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3 Tips to Set Up Your New Business for Long-Term Success

Article Contributed by Noah Y. Rue

It’s no secret that starting a new business is stressful. There’s a lot to plan for, a lot to pay for, and an endless stream of potentially unforeseen circumstances.

It’s also easier than ever to start a small business, and that means more people are doing it. Not without cause, either! 91 percent of startup founders surveyed by First Round Capital agree that now is a great time to start a small business.

More people starting businesses equals more competition among entrepreneurs. The pressure is on to create a profitable business that will outlast the others in the market. In the frenzy of getting your doors open, it can be easy to get caught up in the immediacy of it all and forget to forecast for the future.

If you just focus on the present, though, and don’t have a plan for scaling your business up as you grow, you may make it past opening day and then have no direction. While you’re dotting the i’s and crossing the t’s on your business plan, keep a few things in mind to set you up for success down the road.

Plan for Efficiency

Nothing will curtail your business like spending time and energy when you don’t have to. It may seem simple (and cost effective) to just do everything yourself, but it can lead to major pitfalls down the road.

As a business owner, it will behoove you to automate whatever processes you can afford to, though don’t assume this means you can ignore them. You’ll still need to keep an eye on the processes to make sure everything’s running smoothly. However, with the magic of computerized payroll systems, predetermined monthly supply shipments, and scheduled email blasts, you’ll be able to concentrate on growing the bulk of your business.

While your business is small, take the time to standardize as much as possible. Any intake papers, forms, quotes, etc., should look the same. Having uniform templates will ensure that all the necessary information is gathered for a given task. You’ll minimize the likelihood of something getting overlooked or of key details being missed out on.

Have one of your first employees write everything down. And I do mean everything. As business processes get refined and put into regular practice, document what the steps are and keep an up-to-date version of office processes available. This will help with future training materials as your business grows, cutting down on the time needed to go back and create these documents retroactively.

Cultivate Company Culture

As soon as your company grows, you’ll have to hire. It’s a mixed blessing for new companies — on one hand, you’re growing. On the other hand … who likes sorting through resumes?

Employees are the lifeblood of a company, and the type of people you hire now will have a massive impact on the type of company you become.

Millennials are redefining the workplace, and one of their massive sticking points is culture. The way a job feels and the prevailing attitude of management is a determinant in whether or not they’ll stick with a company. In order to recruit the top talent, you’ll need to create a desirable company culture.

While it may seem daunting, the task of cultivating culture may be easier than you think.

Primarily, hire wisely. This goes back to employees being your company’s lifeblood — hire the type of people you want your company built on. Be picky; don’t feel like you have to settle just because you’re a new business. You may not be able to hire the top in the industry, but look for passionate, dedicated, curious people who align with your company’s goals. And remember, when your company is small, every new hire has an impact — personalities are important.

Second, once you’ve hired people, treat them well. Millennials are looking for management that is transparent, honest, and available. Be available to your employees when they have questions, be transparent about the business and their progress as employees, and generally just treat your employees like people. Never underestimate the power of a thank you.

Finally, make work fun. This doesn’t mean everything has to be a game or that productivity has to suffer. Provide incentives like a monthly learning lunch, company snacks, or seasonal events for employees to enjoy, and don’t make them dependent on merit or competition. Creating events where employees can bond and form friendships will go a long way towards solidifying your company’s culture.

Check Your Legality

No one wants to think about legal trouble — that’s only for shady businesses, right?

Unfortunately, no. An uncomfortably large percentage of new businesses will end up with legal trouble at some point in their tenure, and no amount of company culture can wish that away if it comes for you.

A good place to start is to look up other businesses within your niche and see what they’ve had trouble with. Learn from other people’s’ mistakes (or unfortunate circumstances) so that you can cover your bases and make sure the same thing doesn’t happen to you. Additionally, ask other business owners what kind of insurance they have and what they’d recommend — you may be surprised at what business insurance can cover.

Make sure all of your company practices and documents are up to snuff. This includes hiring practices, employee agreements, workplace conduct, and other regulations. It may be worth consulting a lawyer to make sure you’re covered in the event of a suit.

Finally, when dealing with clients, create airtight invoices and contracts — no company wants to end up in small claims court for balances that a client refuses to pay. It takes time and resources away from other business functions and defers getting paid for longer than some new businesses can handle.

Go Forth and Conquer!

Starting a business is a big endeavor, and it can be hard to see more than a few weeks ahead. Don’t let the pressure overwhelm your judgement. If you plan for your future now, you’ll be leagues ahead of your competitors once you’re more established. Following the tips in this article will makes sure that you’re not playing catch up a year from now.

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Is Gamification A Fad?

1-gamification

For years, business owners have been implementing different methods and incentives to keep employees motivated to work hard and strive for success. While traditional rewards like Employee of the Month plaques, weekend travel opportunities, gift cards and cash certificates still hold weight when it comes to incentive initiatives, many businesses are capitalizing on modern technology for ways to keep employees inspired.

Gamification is one of the most popular technological incentives being used throughout the business world today. Consumer and employee gamification strategies combines gaming mechanics and game design techniques to engage and motivate employees and users to reach their goals, gamification cultivates healthy competition both in and outside of the office setting to ultimately achieve better results.

Benefits of Gamification In The Workplace

Not only has gamification proven to be effective when engaging employees, but it’s also an advantageous tool for motivating changes in behavior, developing skills, problem solving and more. Furthermore, when designed correctly, gamification has the ability to generate buzz about your brand, spread social proof of company improvements, and boost customer loyalty. Gamification isn’t a fad, it’s here to stay.

Prime Examples Of Gamification Success

Today, more than 50% of companies that manage an innovation process use gamification to initiate business breakthroughs like new products and services, cost reductions, efficiency improvements, new business models, new ventures and much more. Below are 5 prime examples businesses that use gamification to better the employee and customer experience.

  1. Verizon Insider uses gamification to improve customer loyalty and engagement. The nationwide cellular and wireless company employed gamification strategies in Verizon Insider, a community base where customers can access exclusive offers, participate first-hand in online and real-world events, and engage with other members of the Verizon community through written reviews, discussion panels and more. Giving customers a personal, interactive connection with the company is rewarding for users and amplifies brand recognition and customer loyalty.
  1. The Mindbloom app Proof is an excellent example of a gamification app that boosts motivation and tracks goals. Used by both small businesses and large enterprises, employee gamification techniques like Proof spark healthy competition amongst employees by prompting users to create week-long challenges and use phone or video proof to track their progress and eventual accomplishments of goals. Brands that use Proof can then offer rewards for completed challenges and even use the app to engage customers, too.
  1. Kaplan University uses gamification for educational achievement. The university uses solutions from Badgeville – a private technology company – to enrich its curriculum giving users an engagement incentive. For Kaplan, their gamification strategy incorporates challenges and badges to reward students for participating in the curriculum. After integrating gamification, the school saw grades improve, fail rates decrease, in better student behavior. Furthermore, Kaplan uses gamification to track and analyze results. This allows them to distinguish successful students from struggling students so they can utilize alternative gamification techniques to foster success across the student population.
  1. Exercise expert Jillian Michaels implements gamification to encourage, motivate, and track the success of clients. This gamification solution offers a variety of different challenges for participants to choose from, all which are designed to help users stay track with their fitness program. Participants can select specific challenges based on their lifestyle needs or personal goals and are rewarded with badges, prizes, contests, and even partner and group challenges.
  1. Thanks to gamification, the U.S. Army has adopted a whole new approach to recruitment. Though the Army is known for using games in training purposes, they’ve recently started using gamification as a strategy for promoting awareness and attracting new recruit. With tools like the “Virtual Army Experience” and others, the Army is using gamification to redefine their recruitment approach.

Author Bio

Annabelle Smyth is a freelance writer who covers everything from HR to technology and leadership skills. She enjoys learning more about how to make leaders & businesses successful.

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3 Ways to Give Positive Customer Service

3 Ways to Give Positive Customer Service

The relationships we have with our customers are the most important assets we possess.

Easy to understand and take care of, right?

I encounter a great deal of customer service and disservice as I travel. I have discovered 3 Ways to Give Positive Customer Service from these experiences.

Listen

As my assistant made reservations for a stay, the Marriott property had obviously listened to previous patrons and anticipated my needs. They asked,

–“May we pick him up at the airport?”

–“Will he want a ride to his meeting?”

–“May we return him to the airport?”

–“What dinner recommendations would be best?”

“We care” was the message.

The airline experience was different. Four out of five flights changed schedule with only two notifications. One was about a delay due to weather, and then was cancelled. Another the flight attendant was late. The reasons for the rest are unknown to me. I heard, “We don’t care. Get over it.”

There are patterns to your customers’ preferences. Listen carefully, and discover them, anticipate them, and ask based on the common ones. What you do with the answers makes the difference in whether or not they return and boost profitability.

If you consume yourself with your needs, your business’ backdoor is larger than the front. Go ahead and install a revolving door. They’re not coming back.

Listen. Anticipate. Ask.

Mutual Benefit

I discovered the cancelled flight at the ticket counter. There were no more flights that night.

Me:  “What can you do to help me?”

Him: “Nothing. It’s weather-related.”

Me:  “Do you have a hotel that gives discounts?”

Him: “No.”

Me:  “Is there anything you can do to help me?”

Him: “Nothing. It’s weather-related.”

Me:  “Do you realize I fly a lot, but will not fly this airline ever again?” (Every flight this year has had a problem.)

Him: “It’s weather-related.”

Contrast that with the Marriott, whom I called from the airport. She recognized my name, and asked if I made it to the airport fine. When I told her my situation, she moved into action and said, “I have a room for you. Let me take care of this, okay? I’ll turn the van around to come back and get you.”

She then discounted my room rate below the previous night’s stay without my asking and said she was sorry for my inconvenience.

When you work with your customers, helping them benefit even when you obviously will, you narrow the backdoor and widen the front door. You prompt them to tell their friends about the stellar experience.

Work for mutual benefit with your customers and grow your business.

Golden Rule

Returning to the Marriott, I was greeted by name, received empathy for my situation, and asked if I’d like the same room I had the night before. It wasn’t available, but she asked what I liked about it and found a similar one on another floor. A complimentary glass of wine helped, also.

The airline booked my flight for the next day at their convenience which meant a 5:00 a.m. alarm. My seat was on the last row—the loudest—and next to the lavatory. Had they simply asked about my flight or seating preferences, even if this was the last available seat, the engines would have seemed quieter and the lavatory smelled better.

The Golden Rule works. Work the Golden Rule.

My assistant avoids booking that airline now, even if it means paying more. She chooses Marriott properties whenever available.

Which business model do you follow—the airline’s or Marriott’s?

Use these three ways to give positive customer service and grow your business’ profitability.

About the Author

Dr. Joey Faucette is the #1 Amazon best-selling author of Work Positive in a Negative World (Entrepreneur Press), coach, and speaker who helps business professionals increase sales with greater productivity so they get out of the office earlier. Discover more at www.ListentoLife.org.

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3 Ways to Give Positive Customer Service in a Negative Election Year

Your customers aren’t sure what to expect from you right now.

Election year uncertainty casts a negative anxiety over doing business that political ads only exacerbate. Customers aren’t sure who cares, who to trust, and who is on their side.

How do you engage this adversity so as to increase sales, and get greater productivity from your team so you can leave the office early to do what you love with your family?

Employ these 3 Ways to Give Positive Customer Service in a Negative Election Year:

Give Care

Your customers are thinking, “Who cares about me?”

Let your customers know they are far more than an account number, or monthly payment, or transaction size. Tell them, “It’s all about you.”

How? Ask yourself, “What are the results our business produces for our customers?” Think from their perspective. Talk about the benefits, not the features of what you do.

When your customers sense your care, they return often and with their friends.

Give Core Values

Your customers are thinking, “I’m not sure I can trust you.”

They’ve been lied to before, and feel lied to right now by all the political ads.

Cast core values like honesty and integrity to your customers. Dr. Norman Vincent Peale used to say, “Promises are like crying babies in a theater. They should be carried out immediately.”

Keep your word by producing promised results. If you fail to deliver on time, own the results and acknowledge them before your customer finds out.

Customers are far more likely to believe that you’ll make it right and repeat their business at your address.

Give Cooperation

Your customers are thinking, “Who’s on my side?”

Politicians cast stones at each other, telling us what the other person can’t do. Statesmanship and bipartanship are virtues lost in the lust for controlling the headlines.

Cooperate with your customers. Be on their side.

“How may I help you?” then listening deeply for a response casts a willingness to work together to solve problems. What they ask for trumps what you have in stock or what gets you a trip.

You succeed when your customers succeed whether it’s a home remodeling project or a million dollar marketing campaign or helping them achieve their financial goals.

Yes, your customers are unsure right now. By employing these 3 Ways to Give Positive Customer Service, you avoid the Negative Election Year effect and Work Positive!

About the Author: 

Dr. Joey Faucette is the #1 Amazon best-selling author of Work Positive in a Negative World (Entrepreneur Press), coach, and speaker who help professionals discover success in the silver lining of their business and achieve their dreams. Discover more at www.ListentoLife.org/speaking.