Categories
People & Relationships

10 Steps to a Great Support Team

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Four years ago this month, Solo-E hired its first contractors: 3 fabulous VAs. Between them they handled the details of hundreds of items of content for the website, scores of newsletters and uncounted correspondence with subscribers and clients. Two of them still work for me (the third took time off with her third child and is now pursuing a career in financial planning!)

Having a long and successful working relationship with a team of contractors is somewhat of an anomaly among solo entrepreneurs. In many ways I’ve been very fortunate to have such talented and caring people working for me. But I also recognize some critical pieces of making it work that can be planned for – because it’s not just luck!

Part I: Setting up the relationship

1. Hire people that are a good fit for you. Seems obvious, but sometimes our criteria can hinge too much on things like cost and not enough on “can I see myself working well with this person?” Establish upfront what is important to you – consider skills, work habits, communication style, friendliness, etc. – make a list and use it when interviewing and making your hiring decision.

2. Establish written expectations on both sides. Do you expect emails answered in 4 hours or 48? Want a weekly update? Not interested in chit-chat? You may have talked about these things in the interview, but getting them down on paper gives you both something to refer back to. And this should be a two-way street: what are their expectations? Do they need to hear from you when they are doing a good job? Is it ok to contact them on the weekend?

3. Keep the lines of communication open. Talk ahead of time about the best way to let each other know when things aren’t working (even better, put it in writing so you don’t forget). Think about how you best receive feedback – on the phone, via email, scheduled ahead of time or on the spur of the moment, etc.

4. Life happens. If you work with another solo entrepreneur for any length of time, it’s likely that one of you will face at least one personal issue that takes you away from the business at hand for some period of time. These issues can be difficult to talk about.illness, depression, family issues, death. But not telling the other person will leave them frustrated because things aren’t getting done and they don’t know why. Most people are very understanding and willing to accommodate changes in deadlines, leaves of absence, etc., but you have to communicate first. Talking about “what would we do if” ahead of time may help.

5. Show me the money (plan). This is one place to be absolutely crystal-clear. How often are invoices sent, how much detail do you need to see, what are the payment terms, how do they want to be paid. Do they want a minimum monthly commitment? Do you want to set a monthly maximum? What about referral agreements, profit-sharing, etc.

Part II: Building and Strengthening the Relationship Over Time

6. Pay on time! If the terms say pay within 10 days – why not pay in five? Your support team is the lifeblood of your business – what better way to let them know you appreciate and value their contribution?

7. Put away the fine-tooth comb. If you’ve done a good job of hiring a team member, you don’t need to fuss over how many hours for this or that. If you don’t trust them, you shouldn’t have hired them.

8. Always say please and thank you. One of my earliest lessons in business – treat everyone with respect. They may be contractors but they aren’t your minions! I take time to go over every email before I send it to make sure I’ve said please, and I send a quick thank-you when the task is completed.

9. Let them know you appreciate them. Send a note when they’ve completed a big project for you, or a small gift on a special occasion. Celebrate company milestones by thanking them with a card. Be creative! Sometimes it’s fun just to let them know you appreciate them, with no particular occasion attached.

10. Encourage team input. They know your business and clients perhaps better than you do! Ask them for input when you are considering a strategic change. Encourage them to offer unsolicited suggestions to improve processes, etc. – and implement them when they make sense! This also goes two ways – if you share with the team your vision for the business, your strategic goals, etc., they will be better equipped to execute the plan with you.

11. Bonus: Let my people grow! If you are like most solo entrepreneurs you are a life-long learner – and so probably are the members of your team. Give them opportunities to take on new tasks. Encourage them to make decisions and take action without asking your input (set the boundaries for this so they know when you do want to be consulted.) Ask them what they’d like to learn, and teach them new skills. You may be surprised how much better they will be at certain things than you are!

Building a great support team takes time, effort, and caring – but you will be rewarded many times over!

Categories
Planning & Management

Checklist For A Healthy Business

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Business Entrepreneur: Whether you’re thinking it’s Spring Cleaning Time or time for an annual checkup, your business needs to undergo a checkup each year. No matter how large or small your business is, you cannot gauge the effectiveness of any changes you’ve made without analyzing the benefits and bottom line.
Here are 10 questions to get you started:
How do your year-to-date sales compare to the last couple of years? Don’t be satisfied if you managed to match them because if sales stayed the same then you’ve achieved zero growth. With inflation, this flat growth line is a warning sign for more trouble down the road.
What percentage of your business is from repeat customers? This is important to know because if it’s too low, then it needs to be improved. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
How long has it been since you offered a new product or service? Loyal customers like to see you changing and progressing with the times. If you’re stuck for an idea, ask your customers what they need.
Do you consider marketing and advertising expenses or investments? How you look at the money spent in these areas affects your willingness to spend money at all. Would you look at prescriptions as a waste of money? Marketing is really investing in you, your vision, and your company. The old adage that you must spend money to make money is true, but you must spend it wisely. Spend it on ads that are pulling responses and orders, and if they’re not maybe you need to change publications.
Do you know what PR is and how to use it to positively position your business in the media? I’ll bet that at least one of your competitors does. Nearly every mention of a company or business in the newspapers and magazines is a direct result of publicity efforts. Being quoted or featured in an article speaks volumes to your clients and readers who are your potential prospects. A good PR consultant can do that for you and show you ways to extend the shelf life of that article beyond its publication.
Are you listed in the yellow pages? If you only have a line listing, consider including a small ad in the yellow pages. If you can afford it, it will pay dividends throughout the year.
Do you teat your regular customers better than your drop-ins? You should. If your customers don’t feel special when coming to you for products of services, why should they remain loyal to you? Have a customer appreciation day or a special invitation only sale for your regulars. Create a mailing list of your regulars. Send occasional post cards or greeting cards for special events or just to keep in touch. Learn to recognize them on sight and greet them by name when they visit you.
How long has it been since you really talked to one of your customers? Just as you appreciate when your Doctor takes time to talk to you, your customers will appreciate you if you take an interest in their needs. If you have a service business, have lunch or coffee periodically with some regulars – even if they only contact you once or twice a year. The personal touch in an impersonal world will be remembered.
How is your business doing compared to your competition? Every company, no matter what the size, has competition – even home-based businesses. Is their business growing or downsizing? Is their pricing or service better than yours? If so, what can you tell potential customers about the price difference? Think about how you can improve your service to meet or exceed your customer’s expectations.
Are your employees happy? Don’t ask them directly, but observe them throughout the day. Watch, listen and learn. Employees who like their jobs don’t watch the clock for quitting time, aren’t habitually late, don’t have poor body language, don’t spend time on personal phone calls, and don’t look like they never smiled. Observe how they interact with customers. Not everyone is a match for direct contact with the public, so make sure you don’t have an employee who is driving business away.
Business Checkup [Business Entrepreneur]

Categories
Home-Based Business

Turning Your Idea Into A Home-Based Business

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Business Opportunities And Ideas: Having racked your brains for weeks to find the perfect home business idea there can be a sense of elation when you finally decide this is it – I’ve found my big idea. The excitement can soon evaporate however when you’re faced with the next challenge – actually turning the idea into a real live business. This articles guides you through the process, suggesting what you need to be doing and why.
1) Research your market and evaluate your idea
Before you launch any business you need to evaluate you business idea ask yourself these questions:
* Is there a market for your product or service, if so is the market growing, stable or shrinking? Who says the market exists?
* Is the market in your location or accessible to you? If so is it big enough to support the business opportunity, or put another way, can reach a big enough market from your location?
* What are the risks associated with the business?
* Has the business idea been proven by another business elsewhere? Does the business model stand up to scrutiny?
* How prone is the business opportunity to competitors? Are competitors likely to be able to undercut you or offer a better product or service that you can’t match?
* What will you make from the business? Is the Return On Investment (ROI) worth the risks involved? Will you actually make more money than you spend?
Don’t be afraid to ask other businesses that service the same customer for their advice and feedback on your idea.
2) Plan ahead
It’s often said that failing to plan is planning to fail and it’s true. One of the biggest causes of business failure is a lack of cash usually because the owner did not plan for all the expenses that would be incurred. The great thing about a home business however is the low start-up costs – you won’t need a penny for office space or rates.
Create a business plan
To avoid this create a business plan. It doesn’t have to be much, it doesn’t even have to be a formal document (unless you’re raising finance) but document what you are going to sell, whom you are going to sell to, why they are going to buy from you, how you are going to deliver it and what you are going to charge them. Set yourself some goals and deadlines – most of us work hardest when we are working to achieve a deadline.
Find some funding
Create a list of all the expenses you expect to incur and if you’re giving up another income to pursue this business make sure you have at least six months of living costs saved up on top of that. Ideally you want to fund the business from savings, if you can’t then think carefully about delaying starting until you have – alternatively you can use loans and credit cards, but make sure you think carefully about the risk you’re taking on by doing so.
3) Promote yourself
Start talking to people about what you do. Get known in the relevant business community by networking and above all else start telling your target market that you exist. Make sure you do one thing every day that makes at least one more customer aware that you exist and are able to help them.
4) Get organised
Working from home is not the easy option, the husband, wife, kids, parents, cat, dog and anyone else who regularly visits your house will feel they can interrupt you at any time. On top of that there’s the distractions that fill a modern home (TV, Internet, music, the garden, etc.) so you’ll need to set some boundaries – ideally you’ll want somewhere private to work without being disturbed.
5) Just Do It!
Don’t be put off by fear, you’ll almost certainly make mistakes but they are rarely as drastic as they first seem and if you’re doing something to move your business forward every day then sooner or later you’ll arrive at your destination – a successful home business.
How To Turn Your Home Business Idea Into A Home Business [Business Opportunities And Ideas]

Categories
Entrepreneurship Online Business

Online Business Mentoring

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Article contributed by Leah Nevada Page of MicroMentor.org, an organization that helps emerging entrepreneurs grow their businesses through mentoring and advising relationships with experienced peers and business professionals.
Sturdy McKee’s journey to small business success started with a pink slip. The hospital where he had been working as a physical therapist downsized and after a frustrating job search, Sturdy sat down with his wife and had a conversation about what it would take to open his own physical therapy practice.
Once started, Sturdy rapidly built a successful business, and was soon operating at the full capacity of his staff and building space. But when Sturdy began looking for a loan to help him open additional offices, banks were refusing to finance his planned expansion. Then Sturdy found MicroMentor. MicroMentor is a pioneering web-based community and social network that helps aspiring entrepreneurs build successful businesses by matching them with volunteer business mentors from around the country.
After signing up online at www.MicroMentor.org, where he described his business and mentoring goals, Sturdy was matched with a mentor, Jayshree Miller, who had worked as an accountant in the U.K. and was now looking for an opportunity for skills-based volunteering.
As Sturdy’s mentor, Jayshree worked with Sturdy through a series of phone calls and emails to help him make sense of his balance sheets, cash flow statements, and profit & loss statements. She also helped him identify areas in need of expansion. “She reinforced our opinions that we were a healthy company and that we were viable, even though we were unable to secure funding from a bank. [It] gave us the confidence to fund our own growth from our own profits.”
Now, just six years after opening its doors, Study’s physical therapy company has 5 branches and over 20 employees. And just two years after he first sought help on MicroMentor, Sturdy has returned to MicroMentor as a volunteer mentor. “Moving the business to profitability changed a lot of things in my business and my life and I hope to help other people to do that. I want to help people figure out how to plan and make their businesses viable.”

Categories
Customer Service

The Customer is Always Right

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It takes a long time for a self employed business owner to build up a reputation for great customer service. I am a caring person, and putting customer service first is something I hold very dear as an important aspect of how I do business. And recently, I almost blew it. In a fit of irritation over a client’s request for help, I made a very poor assumption — and almost made an idiot of myself in the process.

As I reflected on that experience, I came up with these four elements of providing great customer service as a self employed business owner. I share them as a model of how to think about your own customer service interactions (especially those that occur via email) and as a reminder to myself too. I call it the CARE model of email customer service.

C = already a Customer!

Gaining a new customer is 5-10 times more expensive than keeping an existing customer. So doesn’t it make sense that we should treat them accordingly? It’s easy, when you are in a rush, to forget all the work it took to get them to be a customer in the first place. And never underestimate the wrath of a customer scorned — a disgruntled customer is much more likely to talk to others about that one bad experience they had with you, than all the good experiences that came before it.

Customers are precious — remember to treat them that way!

A = Attitude

Having a bad day? In a rush to get to an appointment? If you respond to a customer under those circumstances, chances are that your annoyance or hurry, even if it is not about them, will creep into your response. The words you choose are very important; doubly so if you are responding via email. It’s hard to choose the best words if you are peeved or if your mind is elsewhere!

So, take time and care to respond. Find a time when you can take a few deep breaths and set aside any distractions. If you can’t find the time, or feel yourself unable to curb your negative energy, get someone else on your team to respond.

R = Relationship

EVERY customer interaction is a link in your relationship with that customer. A good customer interaction, where you solve their problem and make them feel better in the process, makes for a solid, strong relationship. On the other hand, a careless response puts a weak link into the relationship. And a chain is only as strong as its weakest link!

Customer retention is all about how you make your customer feel. Use polite, professional (but not necessarily formal) language, take care to re-read what you’ve written before sending, and thank them, even if they are complaining. And always ask, at the close of your email, if you’ve solved their problem or answered their question adequately. These little things can make a big difference.

E = Extra

How can you go the extra mile when interacting with your customers? Can you deliver more than they are asking for? Or just add an unexpected measure of kindness in your response?

Include additional information or advice related to their request. Or, if you can’t answer their question, do a little research and point them to a helpful resource. Add a P.S. with a personal note about their health, family, a recent trip, etc. Following up with a hand-written card or note can also be a nice touch.

Treat your customers with CARE, every time, and they will come back, time and time again.