Categories
Communication Skills

How To Engage Your Clients

For the last 20-plus years, email has become the standard form of communication for reaching out to clients. Ask any marketer for the last 10 years in particular, and they’ll say one of the top things a business should focus on is building their (email) list.

Snail mail is just too slow, and this increasingly-fast paced world makes a classic phone call unrealistic – what, are you going to call each person individually on your list? Or worse, are you going to have an automated bot interrupt their day with a phone call that is devoid of actual communication?

But now, email too is reaching a ceiling. Is your email going to their SPAM folder? Is it going to their “junk” email address that they use to sign up for all the mailing lists? Is it getting lost between an advertisement from their favorite clothing store and a digital copy of their phone bill?

I don’t think it’s time for us to throw away email entirely – especially not when it comes to communicating information to your warm audience – but if you’re really trying to maintain contact with your existing customers, you might want to try one of these increasingly popular options.

Everyone in the B2B world knows about Slack by now – and for a good reason. Slack’s no-nonsense interface is perfect for communicating with all your clients at once, or sending messages to people in specific groups by sorting them into different Channels. If you love the flexibility of list segmentation, you’ll appreciate the functionality of Slack.

I personally like using Slack as my general hub for connecting with my mastermind clients. We have different Channels for asking questions, for sharing wins, and for my team to make announcements that everyone needs to see. I’ve also created private Channels for each member to have direct access to me and my team, for scheduling calls and sharing documents that don’t need to be shared with the whole group.

Even better? Slack can be used three ways: In your browser, in a Desktop app, or with a mobile app.

Facebook Groups

This one has its pros and cons, but it’s definitely a contender worth discussing! While most people choose to use Facebook Groups as a strategy for growing a free community of warm leads – you could just as easily use a Facebook Group as the home of your paid community.

On the plus side, a Facebook Group offers you a lot of different ways to communicate with the people inside your community. Live videos, photos, GIFs, polls, posts – your options are nearly limitless. And with Facebook giving you the ability to create modules and lessons inside Groups, you could easily sell and host an entire group program or online course inside a Facebook Group (saving you hundreds, even thousands, a year in course hosting fees using a system like Teachable or Thinkific).

Of course, the obvious downside of this option is that you have to have a Facebook account in order to join a Group, and your clients may not have a Facebook account. (Give “people leaving Facebook” a quick search – there’s a lot of movement away from the platform right now.)

Telegram and Voxer

These two apps are nearly identical in terms of functionality: They’re both messenger apps that give you the ability to send and receive voice messages in real time, like a walkie-talkie. You can use these like a classic one-to-one personal message, or you can create a group message that includes everyone on one thread.

While Voxer is more basic in its very orange UI, Telegram is going to be the prime choice for creatives and millennials who value personalization and expression.

I personally like using these kinds of apps for communicating with my top-level clients, who get more intimate, personal access to me. They love getting to hear my “off the cuff” thoughts on different things that they’re encountering in their business without having to wait for a formal group call or one-on-one session, and I love getting to share my insights in a quick, efficient way that can also benefit the other clients in this group who may have the same struggles or questions.

Instagram Close Friends

This one might be a surprising choice, but it’s growing in popularity as an alternative to Facebook Groups. You won’t be able to host a course for free on Instagram like you can with a Facebook Group, but you can still create a fun, exclusive place for your customers to stay in the loop.

I’ve seen this strategy work best for digital creators, in particular, such as podcasters or YouTubers. Using something like Patreon to collect membership fees from your audience, you can have each user fill out a quick Google form to get their Instagram handle upon signing up to get access to your exclusive content. After that, you’ll go to your Instagram Settings, tap on “Close Friends,” and from there you can hit the + to add new accounts to your Close Friends list. You don’t even have to follow an account to add them to your list!

This is a fun way to take something you’re already doing (creating content) for an audience who is already there consuming it, and monetizing it!

5 Ways to Engage Your Clients (That Aren’t Boring Emails) [Entrepreneur]

About Our GE Network Expert - Min Tang

Categories
Starting Up

Business Set-up in Switzerland

Are you a business-oriented person and would like to have your own business established in Switzerland? This is possible and very easy to achieve, as long as you follow all the necessary steps and procedures before you do it; this is to avoid going against their laws.

Switzerland is a destination for many foreign investors. There are numerous favorable factors like low taxes, transparency that does not accord for corruption, and many more. If you have no idea how you can achieve that or have Swiss resident director services when you create a Switzerland business, this article will give you a better understanding.

How to start a company/business in Switzerland?

Switzerland allows every person interested in starting a business to do so without too many restrictions. That includes foreign investors, but they have to follow the constitution’s laws.

For foreign investors, they must first have a valid C permit from a third-party Country, a spouse to the C permit holder, or a spouse to a Swiss resident.

The following are necessary steps of the application process to start a business in Switzerland;

It would be best if you had a clear business plan that will pass the evaluation process. You should also have an existing relationship with other similar companies about what you want to put up.

Your application must also have a commercial registration entry and foundation charter. For a successful application, you are guaranteed a short-term permit for the third-party Country persons, also the L permit, or a resident permit also the B permit, which can last for up to a year and is subject to renewal.

Starting a Limited Liability Company (GMbH) (SARL)

If you are a local, the steps are simple before starting your business/company. The LLC is registered by a single owner, whereby they must have a minimum paid-up capital of CHF 20,000. According to the Switzerland constitution of article 718 Swiss Code of Obligation.

The company has the obligation of submitting each year’s financial statement to the Swiss authority. (Annual audit report required-waiver is possible for small companies)

The taxes may differ depending on the province in the business. They may be set up and maybe subjected to audit if the company has over 250 employees, assets exceeding CHF 2 million, and above CHF 40 million as the turnover. Similarly, for foreign investors, you must have the paid-up capital for registration, following the same procedures and steps, and have a local representative residing in Switzerland.

The unlimited number of shareholders allowed but at least one founder (individual or legal entity). The Shareholder’s liability is limited to the amount subscribed.

The Resident Director

The resident director of a Swiss company can be a Swiss or foreign national, but they must be resident in the country. The other directors of the company may come from elsewhere. The board appoints him to act as the shield of the shareholders and other directors. They should be very professional and must be at least 18 years old. They must also meet the legal law set before assuming any fiduciary role entrusted to them.

Duties of the Swiss resident director

The resident director’s role does not mandate to control the company without the board of directors’ and shareholders’ consent. You only act as a representative of the company before third parties like banks or tax authorities.

They also play a role in managing the administrative functions, preparing the general meetings conducted annually, and taking reports and minutes of the attended meeting. He also takes care of the accounting and auditing, and he has the power to meet and negotiate with the business’s creditors. 

In dissolving a company, the resident director ensures all the proper procedures are followed before its dissolution and that every shareholder and board members’ interest were met. Sometimes the business objectives may have been achieved, and you wish to dissolve or expand in other areas. The resident director is primarily involved in the business’s daily activities and not its operational activity.

Switzerland has been a home for many potential business people, and they have always profited from their investment by the laws set to protect them. By now, you know where to start from and what is expected of you before having any business. A financial services company can provide entrepreneurs such services and accomplish the administrative formalities involved in setting up a new company and ensure you get a resident director to push your business to profitability.

Categories
Franchise

Perks of Running a Food Franchise

Consider these perks to see how buying into a food business can enhance your lifestyle as well as your bank balance.

There are lots of advantages to running a food franchise. Low investment costs, buying into an already established brand, being your own boss, and bringing in an extra income are just some of the significant benefits.

Flexibility and a sociable, stable career mean that investing in a food franchise is a holistic approach to earning a living.

When we think of “perks” we might think of things we’ll get for free. And that is true. But when we talk about the perks of investing in food franchises, certainly the best things in life are free, but they are also ones that will enrich your lifestyle and wellbeing.

Beyond being able to tuck into your tasty leftovers, here are just some of the perks to running your own food firm through a franchise.

Pick the trend that suits your tastes

There’s a street food surge underway just now as the Covid-19 pandemic changed the way in which we satisfy our hankering for food on the go.

Ready-to-eat foods are booming. Fast food is one of the world’s fastest-growing industries and will be worth an estimated $931.7 billion by 2027.

And it’s not just picking up a bowl of noodles on the lunch break. Catering trends have also changed enormously during periods of lockdown and social distancing.

Take for example that street food and food vending are predicted to be one of the trends for wedding catering. The big day is moving away from the traditional sitdown meal or buffet. In the post-pandemic world, guests are wary of sharing a bowl of veg or queuing for vol-au-vents that have previously been examined by numerous people. That means interactive food stations and late-night street food vans are ‘in’. Invest now in the foodie trends that are set to soar.

Starting out small is a big way forward

Franchising enables you to start out small. That way you can test out ideas and find out for yourself just what works for the areas in which you plan to operate and target for the future. It also means you can build towards your own dream rather than that of others. This brings increased satisfaction driven in your chosen direction.

As initial investments are low with franchising, that restaurant concept you have in mind, or the gap in the local market you have identified, means you can trial different cuisines and speciality dishes. This comes with a lower risk than other business models and you’ll always be backed by an established support team and brand.

Fit your franchise to your own wellbeing

Many of us simply don’t enjoy the work we do. Being able to do a job you love can sometimes seem an unattainable dream. When you are the boss, you can fit the daily demands of running a business around your own needs and that of your family.

Instead of corporate dictates, investing in a franchise brings flexibility that you can build into your life. Career satisfaction and emotional wellbeing are things that no corporate salary automatically brings.

When you own a franchise, you won’t always need to be present within the business itself. You can work remotely, work from home, or work on the go – just as it suits you. You can buy into a business that is close to home and ditch that long daily commute for good.

If you’re a motivated and talented individual, there’s every likelihood you don’t like being told what to do every minute of the day. By investing in a franchise you will have the freedom to express yourself.

Share the perks

As your business grows you will be employing staff and you can manage them in the way that you would always have wanted to be managed yourself. You can be creative and encourage creativity in others. That’s incredibly rewarding.

Engaged employees are satisfied employees. You can involve your staff in the company and tap into their own ideas for growth. Not only will that bring benefits to the business but it will foster innovation within the workforce and ensure employees feel a part of achieving your goals.

You can opt into an employee reward programme as you see fit and share the perks of working for you with everyone else. There are lots of third party staff engagement and reward schemes out there these days that offer everything from loyalty bonuses to discounts to tangible monetary benefits. That way you can build motivation and recognition into the ethos of your company.

If you’re operating a food business, then one of the great ways to spread the word is to offer staff discounts and widen this to their friends and family. That way, more people get to taste your great offerings and share their experiences with people they know by word of mouth and social media.

Choose the perks that suit you

Investing in, and operating, a franchise is of course hard work. But if you’re already considering buying into a food franchise you will already know that. In fact, it will be a motivation in itself.

Buying into a food franchise or a takeaway franchise allows you to invest yourself in exactly the catering market that means something to you. You will receive all the support, materials and resources you need. Allow that to be the core ingredient upon which you flourish and bring your own flair.

Categories
Online Business

Will The Online Travel Industry Recover?

Technology has made our life easier and more comfortable, and it has revolutionized the travel industry. Nowadays, travellers like to plan and book their trips online via a mobile app or website without human interaction.

It is known that travellers are keen to use social media platforms, mobile application and websites to explore their destinations and technology is an important factor in every sector.

It is estimated the online travel industry reached nearly $755 billion in 2019 at a compounded annual growth rate (CAGR) of 7.9 per cent since 2015. Overall, the online travel booking accounted for 63 per cent of the approximately $1.2 trillion the travel industry generates every year. Around 82 per cent of travellers book online using a website or mobile app, and an appropriate 0.27 per cent of the world’s online spending comes from the travel industry.

The COVID-19 pandemic had a negative impact on the online travel industry with a decline from $744.7 billion in 2019 to $595.8 billion in 2020, or 20 per cent. Due to the pandemic, most countries imposed social distancing in place with severe travel restrictions. This was a main reason that all industries—airlines, railways, hospitality and tourism—lost business. However, the market is expected to grow and reach $902.2 billion in 2023 if the pandemic can be controlled and economy recovers.

The online travel industry can recover from the COVID-19 pandemic but it requires owners and entrepreneurs having good strategy, clear segmentation and technological advances, good products which entrepreneurs will offer to travellers. Entrepreneurs also need to provide unique products and assess these carefully.

The travel industry has a lot of comments and feedback from black and Asian American travellers who have experienced racism during their stay abroad. Now with additional concerns of COVID-19, travellers are more concerned than ever about travelling due to feeling like there is a lack of priority care regarding minority healthcare, especially when traveling.

The latest report conducted by both the big consultancy firm McKinsey & Company and Skift Research, highlighted that the travel industry had faced unprecedented turbulence and suggested ways to respond to the pandemic. The report stated “We see signs of latent demand for travel. Customers are interested in and willing to travel again when they are allowed to do so, even before a vaccine is available at scale”.

The report also suggested that rather than outlearning and outcompeting one another at a benefit to no one, the travel industry needs to identify opportunities for complementary, collaborative ecosystem plays that help get the industry back on track. Instead of doing the minimum and seeing what happens, travel has the choice to declare what must be done systemically versus independently. Getting past the fact that working together is better, travel protocols including rapid testing, safety standards, and health passports need an industry champion to lead the way and for others…True, there are complexities in teaming up—legacy systems, fragmented ownership structure in hospitality, to name two. But now is the time to think in new ways to establish bigger, bolder relationships.

That is very useful advice from the big consultancy firm McKinsey & Company for the travel online industry entrepreneurs during the unprecedented turbulent time caused the Covid 19 pandemic. Given very recent significant developments this is an interesting business to watch and invest in for the years to come.

Will The Online Travel Industry Recover? [Entrepeneur]

About Our GE Network Expert - Min Tang

Categories
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.

A 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.