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Operations

Virtual Phone Line

Considering a virtual phone number for your business? Here’s everything you need to know about using a virtual phone line.

  • You can get a virtual number alone or as part of a virtual phone system package.
  • Many virtual phone providers allow you to port your traditional phone number to a virtual one.
  • Having a virtual phone number can make you accessible by phone anywhere, anytime, while maintaining your personal number’s privacy.
  • This article is for small business owners considering using a virtual phone line as part of their business phone system.

A reliable telephone communication system is one tool every business should have. Traditionally, though, a good business phone system was expensive and difficult to implement in small businesses.

Today, a virtual phone number is a simple, affordable solution that can help expand your business beyond the confines of a traditional phone line. Here is everything you need to know about virtual phone lines.

What is a virtual phone line?

A virtual phone number, or direct inward dialing (DID), is a telephone number that is not tied to a specific phone device or line and allows the user to redirect and route calls from one number to another number, IP address, or device. Virtual phone lines are also known as “online numbers.”

Traditionally, phone numbers were designed to work over a single phone line that was physically connected from the phone company to your home or business, and any calls made to that number could only be sent to that specific physical location. Cell phones, while more mobile than landlines, are still dependent on cell towers to provide coverage. A virtual number gives a business greater control and flexibility in how it receives calls by removing these physical limitations.

How do virtual phone numbers work?

Virtual phone numbers rely on the internet instead of a phone company or cell tower to provide coverage, which allows users to be reached by phone or computer. It also allows you to change the device you use in real time. For example, if you only want to be available on your mobile phone at certain times, you can route all calls you receive during work hours to a virtual phone line.

How to get a virtual phone number

Virtual phone numbers can be purchased several ways. If your business already has a Voice over Internet Protocol (VoIP) system, you can add virtual numbers to your current package through your VoIP provider. This generally costs $5 to $10 a month per number.

If you want to purchase a virtual phone system, you can get a package that includes one virtual number and a certain number of extensions and minutes. Minutes are incurred depending on how long you talk on the “business line.” A virtual phone system plan’s costs start at $10 to $12 a month for one or two virtual numbers with 300 to 500 minutes, going up to $25 to $50 for two virtual numbers with 2,000 to 3,000 minutes.

If you don’t already have a virtual phone system, you can go through a provider that only sells virtual numbers. These are some of the most popular virtual phone line providers:

  • Google Voice provides individual users with a free virtual phone number that can be used for calls, text messages and voicemail. It has an easy-to-use app for smartphones or computers, and you can link the virtual number to a mobile or landline number. Business plans start at $10 a month per user for up to 10 users in 10 domestic locations.
  • MightyCall is a cloud-based virtual phone system that offers phone calls, text messaging, and voicemail as well as smart call forwarding and call recording. Multiple subscription plans are available, starting at $219.99 a month with an available seven-day free trial.
  • Grasshopper supports calls, texts and voicemail. It offers three service plans, starting at $26 per month, allowing you to choose the one that works best for your business.
  • 8×8 is a cloud-based VoIP unified communications system that boasts highly reliable service, three-way calling, online voicemail, call forwarding and ring groups among its many features. It also integrates with office programs like Salesforce and Slack. Plans start at $12 a month per user. Read our review of 8×8 for more details about its VoIP solutions.

What are the benefits of a virtual phone number?

Virtual phone numbers offer a strong list of benefits and features to help small businesses compete with larger organizations. They provide flexibility in hardware, endless options for localization and tons of cost-saving potential. Compared to traditional business landlines, virtual phone numbers make a lot of sense for businesses of all sizes.

1. Ability to receive calls anywhere

Without being tied to a physical location, you can receive calls anywhere, anytime and on your preferred device. For example, if someone in your company is going to be away and needs to be reachable by phone but doesn’t want to give out their cell phone number, you could assign a virtual number to their cell phone.

2. Incoming call distribution

Virtual phone numbers are also beneficial for companies with multiple office locations. Instead of a phone ringing in one office, incoming calls can be sent to phones in each office. You can do this by making your virtual phone line’s destination a call queue or ring group, which will ring the phones of any employee who is designated as part of the queue or group either simultaneously or sequentially, depending on your preferences.

3. Localized phone numbers

If your office is located in a different area than your customer base, you can assign a local area code to your phone line. This helps you establish a presence in a key area and lowers costs on incoming calls. Customers are more likely to call and answer calls from a local number than one with an area code they don’t recognize.

4. Integrations with marketing campaigns

You can also track key customer metrics through your virtual phone line. Many CRM systems let you assign a unique number to a specific campaign, for example, so you’ll know if someone is calling for that campaign based on the number alone. This data can be helpful in evaluating the effectiveness of a campaign.

5. Fewer equipment charges

Virtual phone lines can save your business thousands of dollars in telephony and equipment charges. Because they are 100% digital, virtual phone lines require no hardware, equipment, installation or maintenance.

6. Advanced features

When searching for a virtual phone provider, see if the company you’re considering offers text and voicemail features in addition to phone service. More expensive and complex plans typically offer features like three-way calling, ring groups, caller ID, call waiting and forwarding, call recording, and call transfers. You should also see how reliable the service is in terms of uptime and whether customer support is included in your plan.

What are the drawbacks?

The benefits of virtual phone lines vastly outweigh the cons for most business users, but there are a few potential drawbacks compared with traditional landlines.

1. You’re always “available.”

The foremost concern is the effect on work-life balance, said Matt Schmidt, CEO of Diabetes365. “The downside, in my opinion, is that you are accessible almost anytime you are awake. Most people are workaholics to begin with, and having the ability to make another call from your home or wherever may lead to burnout.”

2. The call quality depends on the internet.

Another drawback is the inconsistent call reliability. Because a virtual phone number is purely internet-based, the call quality will only be as strong as your internet connection.

3. Data limits can be costly.

If you are on a plan that uses minutes, you must be conscious of how you are using those minutes, ensuring you don’t waste them on spam or non-business calls. Otherwise, you run the risk of driving your costs up above your budget.

Frequently asked questions about virtual phone numbers

How can I get a virtual phone number for free?

Several free virtual phone number providers are available online, such as Google Voice for personal use. Simply choose your preferred provider and open an account, choose your desired area code, and begin using your virtual phone number. Many virtual phone providers offer a free phone number for individuals but have paid options for businesses.

Can a traditional phone number become your virtual phone number?

Yes, you can convert your existing traditional phone number to a virtual one. This process is called “porting” and is available through most virtual phone number providers.

What countries can you get a virtual phone number in?

You can get a virtual phone number in most parts of the world, though the specific countries may vary by provider. Most providers’ services are available in 50 or more countries, with some boasting availability in over 100 countries.

How long are phone numbers?

Virtual phone numbers follow the same 10-digit format as a standard U.S. landline with a three-digit area code followed by the phone number. Unlike traditional landlines, virtual phone numbers can be purchased without a physical address that’s tied to the corresponding area code. This allows businesses to create the appearance of a local presence in a geographic region from anywhere in the world. However, instead of utilizing a local area code, many national companies opt for a toll-free prefix such as 800, 888, 877, 866, 855, 844 or 833 for their virtual phone numbers.

What Is a Virtual Phone Line? [Business News Daily]

Categories
Operations

Choosing The Right CRM System

What is a CRM System?

This software for your business guides prospects through the sales pipeline. There are different plans and packages to choose from. Sorting through CRM solutions means choosing between enterprise-level packages and smaller versions with fewer options.

Choosing a CRM means matching up the tools and packages with your business requirements. Choose the type that meets these needs.

Cloud vs On-Premises CRM Systems: What’s the Difference?

One of the biggest decisions you’ll need to make is between cloud versus on-premise CRM systems. As the name suggests, on-premise CRM is housed under your business roof and managed by your employees.

One of the bonuses here is security. On-premises solutions are less likely to be breached. However, you will need to have your own server and IT team.

Small businesses can buy CRM solutions under the software as a service (SaaS) banner too. A central server hosts the software and your company pays for access through a subscription.

These types allow you to access information anywhere through WiFi. The cloud-based applications here are easy to download.

How to Choose a CRM System: 17 Top Tips to Guide Your Decision Making

Choosing the right CRM software is a process. Here are 17 boxes to check to help your business make the right decision.

1. Make Sure You Choose a CRM System with All the Features You Need

There’s lots of different CRM software to choose from. And lots of business features. Small business owners need to have a plan to pick the right product. For many companies contact management is at the top of their wish list. But there are other aspects you should consider. Here’s a path to choosing a CRM that supplies the items you need.

2. Think About Your Overall Business Goals

Brainstorming what you need a CRM solution to do is the first step. You should align your business goals with the features available from different CRM companies. Better customer relationships should be near the top of the list. Streamlining the sales process to foster business growth should be another goal

3. Make Sure the System Saves You Time and Optimizes Business Processes

A good CRM should streamline things for your sales team. CRM tools focusing on sales should have inventory tracking tools Performance tracking tools are important too. Look for an automated sales outreach type that includes phone calls texts and emails in the business model.

4. Consider How Many Users Will Need to Access the System

Scale is important. The right CRM software can allow your service, marketing and sales department to work off one platform. The more teams you include, the more data you’ll have to analyze. CRM software can help your business to grow as you scale up. Business growth in your market is an important step to consider.

5. Find a Program that Can Determine the Right Communication Strategy Fast

Any effective CRM solution focuses on high quality client communication.A good strategy considers your customer’s demographics. For example, seniors react best to personal emails and phone calls. Research shows millennial customers prefer emails. Text messages are an excellent method to tell everyone about meetings. Integrating a CRM system with social media works too.

6. Check the Level of Customer Support provided by the CRM Vendor

Customer service separates a good CRM system from a bad one. A business should be looking for a solution that provides multichannel communication with all of your customers from Crm vendors.

Personalized service is also important. That’s why the smart business is looking for a 360° customer view.

Keeping your customers happy means being quick and efficient. The routine tasks of your service agents should therefore be automated.

Case management is another feature to look for in a good CRM. Efficient deployment methods are essential.

Detailed dashboards and reports should be included in this software for your business. They need to answer any questions sales has on prospects.

7. Invest in a CRM Software that Prioritizes User Experience

A responsive user experience needs to be another priority. That means making sure you have a mobile CRM so the sales team can receive campaigns and alerts on smartphones. Look for a system that also has an email client integration feature. All important things for your market.

That makes it easy to call up previous interactions when a customer calls for support. These types are essential.

8. Make Sure the System is Compatible with your Current Software

The software needs to be compatible. Cloud computing allows you to buy a service. This can make the solution seamless. Compatibility means easy document sharing, email tracking and even a live chat.

How to Choose the Right CRM System [Smallbiztrends]

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Operations

Hiring A Business Consultant

Hiring a consultant can help businesses improve performance and make necessary changes to achieve success.

  • Business consultants help companies overcome challenges, increase revenue or grow.
  • It’s important to ensure business consultants have experience and previous success with companies like yours.
  • Business consultants may charge by the project or the hour, or require daily or monthly retainers.

Business consultants provide management consulting to help organizations improve their performance and efficiency. These professionals analyze businesses and create solutions while also helping companies meet their goals. Business owners should consider hiring business consultants when they need help or perspective on their chosen path or a catalyst for change in their companies.

What does a consultant do?

There are several reasons business owners should consider hiring consultants. Consultants offer a wide range of services, including the following:

  • Providing expertise in a specific market
  • Identifying problems
  • Supplementing existing staff
  • Initiating change
  • Providing objectivity
  • Teaching and training employees
  • Doing the “dirty work,” like eliminating staff
  • Reviving an organization
  • Creating a new business
  • Influencing other people, such as lobbyists

The first step for any business consultant is the discovery phase, where the goal is to learn the client’s business. A good business consultant takes the time to learn as much as possible about the business from the owner and employees. This can include touring the facility, meeting with the board of directors and employees, analyzing the finances and reading all company materials. During this process, the business consultant will uncover the details of a company’s mission and what operations are in place.

Once the business consultant has developed an in-depth understanding of the company, they enter the evaluation phase, where the goal is to identify where change is needed. This phase includes identifying the company’s strengths and weaknesses, as well as current and foreseeable problems. These issues can include problems that ownership and management have already identified, as well as new problems the business consultant discovers as a result of their objectivity. A business consultant should also identify opportunities to grow the business, increase profits and boost efficiency.

In addition to identifying these problems and opportunities, a business consultant should develop solutions to problems and plans for capitalizing on opportunities. Perhaps a company has a particularly strong sales department but a weak marketing department. This is an opportunity for the company to increase marketing resources and capitalize on the sales staff. During this phase, it’s important for the consultant and the company’s employees to maintain open, clear communications.

Constructive criticism

It’s important for a business owner to take the business consultant’s advice at this stage as constructive criticism. The owner should not take this criticism personally, as the business consultant brings objectivity and a fresh viewpoint. The owner may be personally close to the business, which can be an obstacle to positive change and growth. The owner should have feedback and provide opinions to the business consultant, which the business owner should consider and revise plans as necessary.

Once the owner and the consultant agree on a plan, the consultant should enter the third phase of consulting. This is the restructuring phase, or the implementation of the plan. In this phase, the consultant builds on assets and eliminates liabilities. They also monitor the plan’s progress and adjust it as needed.

How to find a business consultant

Finding the right business consultant may be the most difficult part for the owner or management. The consultant should have a passion for their work, a drive for excellence and an eye for organization and detail. It’s important to find a consultant who has expertise in your industry or experience with the kinds of problems your business faces. Also, make sure they have solid referrals.

In addition, ensure the business consultant has any necessary certifications that are relevant to your industry. You should vet the consultant through their website and materials. Look for professional images and well-documented information about their services and thoroughly review contracts and consultancy fees. It’s a good idea to request examples of past successes and to speak to those businesses.

What is the typical background for a consultant?

The right background for the consultant you choose depends on your industry and needs. The U.S. Bureau of Labor Statistics notes that consultants can be management (business), scientific or technical. If you want someone to help your company develop new proprietary software or computer-based workflow, you may want to engage a technical consultant. Outside of specific needs, companies usually work with management consultants when they want to improve their bottom line, customer satisfaction or employee morale.

Regardless of the type of consultant you work with, their background is critical. It helps you understand how likely they are to improve your business. Here’s what to consider when reviewing potential consultants:

  • Do they have hands-on experience? This can be especially important in the business world. If someone came directly out of college labeling themselves as a consultant, do they really know anything more than you do? Consider looking for consultants who have successfully owned or run small businesses, enterprise organizations or specific departments.
  • Is their experience applicable? A former bank CEO may seem impressive, but do they have the knowledge and experience to turn your cupcakery into a profitable small business? They might, but if you’re also considering a former restaurant owner who now makes a living successfully helping small eateries grow, this consultant may be a better match for your business. Look for consultants who have worked in your industry and with businesses that match yours in style, size, needs and goals.
  • What’s their track record with consulting? You don’t just want a consultant who has the right experience; you want a consultant who has demonstrated success with companies like yours. Ask for a portfolio or list of brands the consultant has worked for, and request references. Look for a consultant who has helped businesses overcome the types of challenges you’re facing or who has grown businesses very similar to yours, and reach out to those companies to find out if they were satisfied with the services.

Business consultant FAQS

How much do business consultants charge?

According to the Bureau of Labor Statistics, management consultants make an average of $150,000 per year (or $62.93 per hour). But that’s what the person “takes home” as income, and consulting charges are typically higher to cover business expenses. Consultants don’t always charge by the hour. According to a consultant fee study by Consulting Success, these are some popular fee methods and the percentages of consultants who favor them:

  • Per project – 34.2%
  • Hourly – 27.3%
  • Monthly retainer – 15.1%
  • Daily rate – 14.1%
  • Other – 9.3%

According to the study, 43% of consultants earn up to $5,000 per project, though some make more than $100,000 per project. Obviously, the size, scope and length of the project determine the cost.

Business consultants are a considerable expense, but their feedback and planning can help you increase business and boost profits while eliminating problems and identifying opportunities to ensure future success.

How do you measure the ROI of a business consultant?

You measure ROI by looking at certain key metrics to determine the worth of the consultancy services. Most companies look at their net profits in the quarter before they hired the business consultant, then evaluate their net profits in the next quarter or two after they implement the consultant’s recommendations. You should deduct the cost of the consultancy before calculating the ROI.

Considering return on investment is an important part of hiring a business consultant. If you’re paying a business consultant upward of $5,000, you certainly want to see an established ROI after

the project. Established business consultants should be able to show their former ROI data to prospective clients. According to the Predictive Index, 27% of surveyed businesses chose not to hire a consultant because the consultant could not demonstrate ROI. This is the most frequent reason for companies not using consultancy services, and it falls on the consultant to use big data to demonstrate past ROI.

How do you know when to hire a business consultant?

Business consultants don’t come in one size that fits all. You will need to evaluate your company in these key areas:

  • Human resources
  • Business strategy
  • Operations
  • Compliance and regulations
  • Financial planning

If your business struggles in any of these areas, then it’s a good idea to seek out a business consultant. Keep in mind that business consultants specialize in particular business areas, so you should seek out a verified expert in the field. For example, don’t hire an operations specialist if you need the most help with financial planning.

If you note any declines in profits that you can’t explain, this could be another sign that it’s time to hire a business consultant, who can pinpoint potential reasons for the decrease and ways to remedy them.

What Is a Business Consultant? [BusinessNewsDaily]

 

 

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Operations

4 Technological Solutions for Streamlined Small Business Operations

It’s the goal of every business to conduct its operations efficiently, save time, money, and reduce the probability of making errors. Gone are the days when most aspects of a business were carried out manually due to the lack of technological devices.

Today, ask every successful business owner how they conduct business, and you can almost be sure they will mention technology somewhere. Here are some of the ways you can take advantage of technology to streamline operations and hit your business goals.

The Phone System

The office phone has been useful for decades, but is it time to ditch it? Well, if you find something that works better, ditching the old one is justifiable. Nowadays, you can use phone services that don’t have as many limitations as those with a desk phone.

With the need for working from home increasing each day, your employees can comfortably receive phone calls from customers or suppliers at the comfort of their homes, using their desktops or laptops. They can also make or receive phone calls from anywhere, as long as they have a computer with an internet connection.

small business phone service can run in a web browser or as a downloadable app. These phones also have video and messaging features, which desk phones may not have.

Accounting Software

Using an accounting software can help you keep track of expenses and revenue more efficiently. It also makes the processing of taxes, invoices, trial balances, balance sheets, and other financial-related aspects easier and faster.

Additionally, this software ensures that your business financial data is stored securely and can’t be accessed by unauthorized personnel since you have the option of choosing who to give the password to the system. Most importantly, this software gives reliable and accurate reports, which are key in proper decision-making.

Inventory Control System

An inventory control system keeps track of the items in stock and makes updates whenever something new gets in or is sold out. This helps in maintaining an accurate system to prevent a business from running out of stock or buying excessive stock.

This system also provides crucial insights regarding sales, which you can use to forecast trends and make the right business decisions. Additionally, this system helps prevent cases of fraud since anything that gets into or out of the shelves is recorded.

Customer Relationship Management System

If you’re passionate about organization, you should have a customer relationship management system (CRM). CRM helps in tracking the experience of a customer in a company. This includes collecting their contacts the first time they engage with your business and recording any other interaction that happens afterward.

This helps in keeping track of customer behavior, trends, and patterns. Having this system also means you can create personalized messages for your customers during your marketing campaigns.

For your business to be successful, you have to run operations efficiently. This saves you time, money and provides accurate details. Whether it’s accounting, communication, customer experience, or inventory, technology will sync your operations, giving you a competitive advantage.

Categories
Operations

Flexible Workplace Investment Sets To Grow

A specialist operational partner working with landlords providing flexible workspace has secured £1m investment for its expansion.

Spacemade, which has over 100,000 sq ft of workspace in Leeds, London and Bristol, has secured funding to support its growth as COVID-19 restrictions continue to ease.

Founded by Jonny Rosenblatt and Dan Silverman last year, Spacemade specialises in helping landlords to provide flexible bespoke workspace to businesses.

To date, the firm has delivered seven workspaces across the UK, including a workspace in London Fields, a collection of private offices on The Strand, the repositioning and expansion of a prime building in the heart of Leeds city centre, a coworking space in Fitzrovia and a neighbourhood workspace in Queen’s Park.

Dan Silverman, Spacemade co-founder, commented: “We’re thrilled to have these investors on board and this milestone for Spacemade comes at a watershed moment for the flexible market.

“As we emerge from the pandemic the provision of flexible space is going to increase substantially as businesses demand increased flexibility, however, it will increasingly be building owners providing it directly, enabling a much closer relationship with their customers.

“This round of fundraising is a clear vote of confidence in a new model of operation for the coworking sector and the increasing role agile workspaces will play in occupational strategies and decision making post-Covid.”

Spacemade co-founder, Jonny Rosenblatt, added: “It’s clear that businesses need flexibility and a perfectly operated workspace. Our approach is very different to the existing cookie-cutter model.

“Each one of our spaces that we operate for landlords is unique for its specific target customer, but part of a much larger network of spaces. Operational real estate is all about scale and this fundraise will help us accelerate our plans.”

Flexible workspace specialist secures £1m investment for post-COVID growth [Bizdaily]