Month: November 2012

Categories
How-To Guides

How to Achieve Successful Business Growth

One of the many issues business owners face is ‘bright shiny object’ syndrome, which leads to overwhelm, and then frustration because their business isn’t growing in the way that they hoped it would. A typical scenario I come across (in fact I’ve had several conversations with business owners about this) is that they are juggling getting their newsletter up and running; posting to their blog; creating products to sell via their website; and launch a membership program – all in addition to getting more clients. Do you see how it all becomes too much?

The solution to these problems is to know exactly where you are in your business – i.e. at which stage in the business growth process are you. Because, depending on which business growth stage you’re at, will determine where you need to focus your time. You’ll know exactly what to do first, what to do second, what to do third etc. No more following that bright shiny object!

Having been running my own online solo service business since November 2001, and working with many clients over the years (from start-up businesses to multiple six and seven-figure businesses), I have discovered that there is a very specific 3-step process to running a successful, long-term business.

I refer to these three steps at the 3 “Ms” to Online Business Management Success; and let me share that process with you here today:

Step 1: Manage

This is the foundational piece of your business growth and covers your core office organization systems:

  • Filing Management
  • Contact Management
  • Financial Management

Once you have all these key systems in place you’re then ready for the next step in your business growth.

Step 2: Market

This is where you create visibility so that clients are drawn to you. You need to let your target market know about your business through creating a customized and automated online marketing system – and you’ll also want to include some offline marketing activities in this stage too.

Once your business has got to the stage where you are drawing potential clients into your business daily, and you’ve reached the bursting point in working one-on-one with your clients, then you’re ready to move into increasing profits and leveraging your time.

Step 3: Multiple Streams

The third, and final stage, in your business growth is where you repackage your expertise into various products and programs to leverage your time and increase profits. You’re not ready for this stage until you have the first two steps all in place. It’s no good creating information products if you don’t have anyone to market those products to. So before you rush out and create products ensure that you have a database of potential clients and customer who are ready and willing to buy your products.

To create a successful (read: profitable) long-term business you need to follow a plan. Follow the three steps I’ve shared with you here and you will not be tempted to go after the next ‘big idea’; instead you’ll know exactly what to focus on, when to focus on it, and what to do next.

Categories
Communication Skills

Top 5 Communication Techniques in Business Today

Article Contributed by Kevin Schweizer

There are so many different communication technologies available today. Most of us at one time or another has heard our own parents talk about their amazement at just how different today’s smart phones are from the first mobile phones they remember coming into the market. Staying up to date on the latest communication methods can be especially important in business, and the use of these technologies can greatly improve the quality of your interoffice and client communications. Let’s take a look at a few of the most used methods and how they can help you be more effective in your own business communications.

Face-to-Face

The most tried and true method to date, face-to-face communication is still (and I would argue it forever will be) the most effective way to communicate ideas to coworkers and clients alike. Among all of the improvements in communication technology, don’t neglect strengthening this incredibly important skill. Not only will it make you more approachable as a coworker and manager, it will also transfer into a proficiency in other methods as well.

Email

Though this method seems almost ancient compared to others, it’s also one that has lasted through the ups and downs of so many other fads. Of course, it has been greatly enhanced by accompanying tools such as instant messaging, Google Drive (previously Google Docs), and calendars. Still, effective written communication is still a very important skill to the majority of employers, and one that seems to be dwindling among otherwise tech-savvy applicants.

Phone/Teleconferencing

Telemarketers aren’t the only ones who need to work on their “phone voice”. Phone calls are still a huge part of client communications today, and teleconferencing has become commonplace in any large organization. Phone calls can be very effective when a face-to-face meeting isn’t an option, or for less lengthy client meetings. However, the ever-increasing expense, especially for international calls, as well as disruption issues has pushed many organizations to search for more economic options.

VoIP

Created to combat some of the problems with traditional phone companies, VoIP (Voice over Internet Protocol) is growing in popularity for small businesses. The main benefit of VoIP is that it is generally much less expensive that a traditional phone line. This is especially true for international calls, which previously have been a huge cost for any company involved in global business. Through VoIP, anyone with a reliable internet connection can enjoy a global network for next to nothing compared to traditional land lines. Learn more about VoIP services.

Video Conferencing

Similar to teleconferencing, video conferencing allows for group conferencing. The major difference is that video conferencing services allow you to project video along with regular voice. This method takes conferencing yet one step closer to face-to-face communication when an in-person meeting isn’t available. Some mainstream examples are Skype and FaceTime, though there are specific services available for business conferencing.

While there are plenty of communication technologies on the market, these are the most widespread and accessible for small business. Through the development of further methods, remember that the development of oral and written communication will forever be vital in business and will remain relevant throughout technological changes to come.

About the Author

Kevin Schweizer is the Online Marketing Manager for Phone.com, an internet-based company specializing in home and small business phone, virtual office, and virtual number services. When Kevin isn’t writing, he can be found watching the NFL and researching medieval castles.

Categories
Starting Up

The Most Common Start-Up Mistake

Most serious entrepreneurs do their homework, so it’s not a surprise that many start-ups are aware of issues that they need to look out for. Taking the steps needed to find adequate long-term funding, establishing good hiring practices, and keeping up with evaluative metrics are all concepts that responsible CEOs must attend to regardless of what business they’re starting. Yet there are still common mistakes that get made over and over again. The most serious of these is a lack of flexibility.

When most start-ups begin to make plans, they tend to focus on what will happen once things go right, or, if they’re somewhat prescient, on when things go poorly. However, the honest truth for every start-up is that while some things will go your way, other things will actively go against you. That’s why you need to plan not just for your successes, but also for your failures. Be flexible. Make sure that you can adapt to most any situation that comes your way. Maintain the capacity to pivot on business or personal goals as needed. This will make it simple to adjust to a changing business environment, or if the economy experiences a downturn, you will be prepared, and not lose as much business as your competitors.

Yet it’s not enough to just focus on the big picture; it’s also important to look at how flexibility is important in your day-to-day routine. For example, the flexibility mantra applies most specifically to IT staffing. More than anything else, technology will tend to fail at a higher rate than you expect. It’s imperative that you understand the basics of every technology your business depends upon, and it’s even more important that you have experts available to help in case something goes wrong. There is perhaps no better single boost to overall productivity in the long term than maintaining access to competent IT professionals. The IT department handles some of the most essential aspects of business, and it’s important that you find the right people for the job.

Depending on the size of your business, it might make sense to have professional IT people on staff, or you might be better off having a proper IT department on call through a separate agency. Either way, it’s necessary to have a team ready to troubleshoot through any problem you might have when one of your technologies eventually does fail. This single step will help you to maintain a level of flexibility that the vast majority of start-ups don’t have.

As your business grows, this reliance on a good IT department will only increase. Keep good metrics on how often and how severe technology failures occur, and use this data to judge how best to scale up what IT specialties you hire for over time. You might think it’s too early to think about what you’ll do in the future about scaling up services like this, but remember that good decisions come from good data. Begin keeping good IT metrics on day one. You’ll be glad of it later.

Article contributed by Jenna Smith

Categories
Entrepreneurship

Creating An Entrepreneurial Base

Many believe teaching someone how to become an entrepreneur can’t be done and they are right. Either you have the ability to start and run a company or you don’t. People willing to open the doors to a new business contain a fearless determination not found in everybody. However, they still need the skills to succeed with their business. These come from education, such as Sanford Brown’s Program for allied health diagnostics.

It doesn’t matter which industry you plan to start a business in, you need more than just an entrepreneurial spirit to find the success you desire. Reading about other successful entrepreneurs will open your eyes to some of the struggles you can expect before finding the success you dream about every day. Here are a few things to help you move forward with your entrepreneurial journey.

Three Keys for Successful Entrepreneurs

1.  Education 

The struggle for many young entrepreneurs comes with traditional schooling. Education is very important, but with a creative mind, it can be difficult to understand how the skills one receives through classes at a community, state or private college will transfer into their own business. Many of the things taught in the college setting will apply to the business world.

Taking basic business classes, understanding economics and learning about the industry you plan to open your business in, will serve you well as you move forward. Not only will be able to use the skills developed through a college degree, but it also helps when you need help with financing. Presenting your business plan to investors without any education or experience in the industry usually won’t turn out positive.

2.  Experience 

Experience and education go hand in hand for entrepreneurs. For example, if your dream is to start a business in the health diagnostics field, you need both an education and experience within the industry. Gaining industry experience will help you to understand the challenges you will face. Imagine trying to start a business you don’t know anything about. Do you think it will turn into a success just because of your entrepreneurial spirit?

After gaining a formal education, experience will lead you towards your dream. Depending on the industry you plan to open your business in, you may need just a few years of experience or you may need a decade of experience. This is just another form of education, but its hands on and will help you with the decisions you will face daily in your own business.

Many successful business owners started at the lowest position in the industry and worked their way to a leadership role before going into business on their own. It will serve you well to understand all aspects of the business, from the lowest paid position to the duties of the management. You will better relate to those working for you and they will develop a different type of respect for you knowing you’ve been in their position.

3.  Determination 

One final thing every successful entrepreneur needs is the determination to keep pushing forward even when it’s not easy. Many successful entrepreneurs shut the doors to more than a few businesses before they found success. Famous restaurateur, Gordon Ramsey, closed his first restaurant before he found success. It’s common to fail a few times before finding success and without determination, you might give up right before you succeed.

Entrepreneurs tend to be fearless individuals with a knack for finding success one way or another. It’s not always an easy road when you open your own business, but the rewards can make it worth every hour spent building your business. Start by gaining an education in the field you plan to open your business in and then, gain some experience. This will serve you well moving forward and when education and experience are met with entrepreneurial determination, it’s an unstoppable combination.

Article contributed by Jenna Smith

Categories
Human Resource

9 Things To Do When Going For New Recruits

Hiring the right employees is the key to smooth running of a business. A lot of things can be overlooked when deciding to hire someone, which can lead to a loss later on. Here are some essential tips on how to hire new employees.

1. Give them a run 

You can give a job exercise to potential candidates. This will allow you to see their understanding of the position, and how interested they are in it. This exercise would allow you to focus on strong candidates, who are patient and do what’s assigned whole heartedly.

2. See the real them 

Yes, every candidate will be prepared for the formal screening process. They are going to be polite, and would know the type of questions asked during an interview. Less formal details are important, and you can judge their traits. Here are a few things you can do.

• Ask them about their old employer. See if they’re respectful or not.

• Ask the receptionist to keep an eye on how they behave and interact in the waiting area.

3. Go for someone enthusiastic 

In order for your small business to grow further, you should go for someone who is enthusiastic in your field. For example, if your business is about fashion, and you hire someone whose dream is to land a job in the tech industry, you may have regrets later on. Candidates who are enthusiastic about the field of your business can play a key role in the growth of your business.

4. Look beyond 

During the hiring process, you shouldn’t be narrow minded. While degrees and resumes matter, they can lead to hiring of someone who can’t adapt. Ask the candidates what else they can do. Who knows you may get someone who’s good at social media, and can improve the social media department with their ideas, even if they aren’t related to the field.

5. Give time 

You should give time to the process of hiring new employees. This means you may have to conduct several interviews from a single candidate. Ask them questions, see their background and see if they are seeking a long-term attachment with the business or are motivated by the pay.

6. Test them 

It’s a good idea to test all the potential employees. For example, if a candidate is applying for the position of a social media manager, ask them to write a few blog posts about your company. There’s no use of hiring someone who knows how to use social media, but can’t create engaging content, a necessity for social media success.

7. Go for the right kind 

There might be many candidates with a great resume, but if you aren’t sure about them, don’t go for them. You should hire a ‘real’ person, not the resume. The right kind of employee would be creative, proactive and aware of how the business works, even if he/she doesn’t have any direct experience.

8. Screen their social media 

This is a great weapon available to you. You can screen the social media profiles of the candidates. Their links may be available on a couple or several social media sites. You can check their profile on Facebook, Twitter and LinkedIn. This will allow you to see the companies they have worked with in the past, and the way they interact with others. It will also give you an idea of their personal traits.

9. Go for the final check 

You need to clarify everything mentioned on the resume of the applying candidate. All information on the resume should be verified along with anything that you thought was unusual during the interview. This is important, as due to the economic conditions, candidates would do anything to get the job. This is known as the final check.

These are the things you should consider while hiring new recruits for your new or existing business. Employee hiring is a part of growing a small business. There are a lot of other factors important for growing a business. There is a lot of information available online on how to grow a small business. An example of a website providing such information are income.com. With the right strategy for growing the business, you would be increasing the chance of expansion and more revenue in the future.

Article contributed by Jenna Smith