3 eCommerce Challenges & Solutions for Tough Times

How to Start Selling Online More Effectively
To call these “tough times” may be a bit of an understatement to you, or perhaps you’ve pivoted your marketing strategy nicely and aren’t negatively affected by the COVID-19 crisis.

There’s no arguing this pandemic has led to increased internet traffic as people work, socialize, and entertain themselves online.

Distributel, a company that buys wholesale access to Rogers Communications Inc.’s internet backbone, has seen a traffic increase of about 50%, according to this article.

But an increase in internet usage doesn’t necessarily translate into increased sales for your small business.

Many consumers are hesitant to buy, either because they aren’t sure when they’ll be able to use the service you sell, or because they’ve been laid off or have had their hours reduced.

That’s why I’m sharing 3 eCommerce challenges and solutions to help you maintain and even grow as an entrepreneur during this crisis.

The Challenge: Making Your (eCommerce) Business Essential Many entrepreneurs are panicking because they don’t have a traditional eCommerce business model, or an eCommerce website.

And, many worry they don’t have an “essential” enough product or service to offer online, like grocery stores do. (According to Apptopia, downloads of Instacart, the Walmart Grocery app and Shipt have increased 218%, 160%, and 124% compared with a year ago.)

Okay, so chances are you don’t sell groceries. But you can still be essential to your customers.

Are there certain products or services you can focus on that will better serve your target audience? For example:

? If you have a clothing store: fabric face masks, casual outfits for working from home ? If you offer financial, life, or other counseling services: 30- or 60-minute mental health sessions; many people are feeling lonely and isolated because of COVID-19 ? If you sell entertainment-related items: create short videos highlighting games, crafts, or puzzles that will be fun for bored kids or adults

While it’s not possible for every small business to pivot this way, the reality is that if you don’t adjust to this “new normal” as much as possible, your small business will suffer.

Changing your marketing strategy can be tough, but it’s amazing how a bit of creative thinking can transform your situation and increase your web presence.

The Challenge: More Customer Questions & Complaints While having a phone number on your website and in your Google My Business results may have been enough pre-pandemic, your customers need your support now more than ever.

More people online means an increased number of questions, comments and complaints could be coming your way.

I’m sure you’ve been incredibly frustrated at one point after being put on hold for ages, or not getting an email back when you inquired about something. Don’t let your customers have a similar experience on your website.

If you don’t have the capacity to manage customer service, consider implementing a chatbot to increase your web presence. A chatbot allows business owners to provide responses and solutions—and even generate leads and sales—24/7 through automated customer service live chat.

According to IBM, up to 80% of routine customer service questions could be answered by a chatbot. While not every query can be tackled by a chatbot, it could take on the easier, yet still time-consuming, questions your customers might have. Learn more about chatbots here.

The Challenge: Website Tech Issues Let’s say you already have an eCommerce site for your small business. If you have a broken link, 404 page or slow loading times, your visitors will go elsewhere. (This is true all the time, not just during COVID-19).

Even a clever 404 page can’t save you from losing visitors (and potentially sales).

Also, you’re not going to build trust among your audience with a poor user experience. Nobody is going to enter their contact or credit card info if they don’t trust your website.

Not to mention, an unkempt website is a target for hackers.

Remember: You’re not only responsible for protecting your own data, but also for your visitors’. Security requirements are always changing, and no small or large business is safe.

That’s why it’s essential to monitor for glitches, update your software and back up your site regularly for an optimal user experience.

Now, what if you have to start selling online in response to COVID-19? While there are sites out there that let you start an eCommerce website yourself, remember that your website is your number one marketing tool.

From calls to action to the font type and images on your pages, how you present your small business to the world makes a big difference to how you’re perceived.

Also, you’re not going to have the same customization options if you go the DIY route.

A professional web development company will understand not only the technical aspects of the build, but also the best ways to get your message across to your target audience.

READ: 17 Strategic Business Pivots to Make in the Time of COVID-19, on our website. Just like that we woke up in a different world! The coronavirus epidemic has completely changed our lives and transformed the way we do business.

For many, this can be an incredibly frightening time to be a business owner. You worry about the health of your employees and the business, the bills that keep coming, your income and family obligations.

But rather than let worries overwhelm them, smart small business owners can use this opportunity to plan and prepare for future growth and success. We’ve created a COVID-19 checklist to help you make the most of this uncertain time.

Whether you have to start an eCommerce website from scratch or adjust your existing marketing strategy to increase your web presence, now is not the time to sit back and wait for the pandemic to blow over.

Right now, your target audience is “living” online, so you’re going to have to tackle eCommerce business challenges as quickly and smoothly as possible. Be proactive, pivot your marketing strategy, and learn from this journey!


Article Source: https://www.amazines.com/Business/article_detail.cfm/6258895?articleid=6258895

Six Things Employers Need to Be Mindful of When Applying for the Coronavirus Job Retention Scheme

The highly anticipated HMRC Coronavirus Job Retention Scheme online portal is now open. Some had been sceptical about whether HMRC would be able to stick to its target release date of 20 April 2020, however, it has been achieved. It is now expected that thousands of employers will use the portal to claim back the 80% wages available for employees they have designated as ‘furloughed’.

A Step by Step guide for claiming money via the scheme is also available and points out that employers will need their Government Gateway ID and password to log in. Once logged in, it seems that employers will have to put their details in all in one go because there is no ‘save’ option available within the portal. This means employers must be fully prepared, at the start, with details they will need to input for the claim to be processed. With that in mind, here are six things employers need to be mindful of when applying for the scheme.

1. Do your research on government offerings

Make sure you know what the Government are offering and how long they are offering it for. Currently, the scheme covers the period from 1 March 2020 up until the end of June. Before deciding to rely on the scheme, consider if your company, and your staff, are eligible for it.

2. Check if your employees are eligible 

To be eligible, the individual must be PAYE and must have been on the payroll on 19 March 2020 and have been notified to HMRC through a RTI submission on or before 19 March 2020. Full time, part time, temporary and zero hours and fixed term staff can all be included as long as they are PAYE. Office holders, (including directors), salaried members of LLPs, agency workers and those who fall into the employment status category of ‘worker’ can be included.

Previous guidance had contained a cut-off date of 28 February 2020 meaning that employers could not furlough, and claim the wages of, anyone who started after this date. The guidance was updated on 15 April 2020 to provide a new cut-off date of 19 March 2020.

3. Communicate with employees about changes

You must clearly tell staff that they are being furloughed, why this is, and when this will take place. It should also be confirmed if you are willing to let them work for someone else while they are away and that you will expect them to return when the period of furlough ends.

4. Log all employee communications

Unless there is a term allowing furlough in employees’ contracts, you will need to get agreement from employees to designate them as furloughed and reduce their pay. You will need to agree on the pay reduction with employees as part of the agreement to furlough because normal employment law principles apply.

On 15 April 2020, the Government released a Treasury Direction on the scheme. It stated that employers must have an agreement in writing that the employee will cease to do all work for the duration of furlough.

5. Read the small print

Make sure you are clear on anything that could impact on your use of the scheme. For example, the guidance update on 15 April 2020, extending the scheme to staff who had been with the company on or before 19 March 2020, did not actually permit as many new individuals to benefit from it as previously thought. This was because an RTI submission will need to have been made to the HMRC first, which happens on payday, and staff who started at the beginning of March may not yet have been paid.

6. Play by the rules

Payments may be withheld or need to be repaid if claims were based on misleading or inaccurate information or found to be fraudulent. A hotline has also been set up on which employees can report employers’ abuse of the system.


Article Source: https://www.globalbankingandfinance.com/six-things-employers-need-to-be-mindful-of-when-applying-for-the-coronavirus-job-retention-scheme/

The Way You Manage Affects Your Organization’s Performance

Just don’t manage everybody the same way.

Everyone has a preferred way of managing others.

You may have learnt your particular management method of how to manage others by observing your parents or your first boss or someone you were exposed to for some time, and by now you have your own particular management method or style.

We all have a preferred way that we would like to be managed, and may consequently feel that’s the way we should manage others.

Most of us have experienced a number of managers in action. Some impressed us, some did not.

Let’s look at some of them:

We have all seen the bustling busy boss who rushes in and orders everyone around never asking for advice because he knows it all.

We’ve seen the laid back person who asks for something to be done and never checks back until one day when he does, he suddenly loses his temper.

There is the boss who won’t let anyone do anything, or a boss who never tells you anything, or one who agrees that things will be done, abdicates his responsibility and then blames you when things go wrong.

All formal management techniques that I have been exposed to fall within a scale ranging from tight management to loose management, and the method used to explain a particular management method is usually in quadrants or numbers.

Regarding a preferred management method, I would like to share with you a combination of the logic and especially the wisdom and experience of the really effective leaders I have worked with over several decades.

The question is then, is there a best method to manage, and if there is, which one is it?

Before we come to any conclusions, let’s look at some of the more common ways of managing and I have given them names that the “Wise Ones” have come up with over the years.

The Reactionary

You’ve seen the bustling, busy boss. This boss rushes in, gives a cursory glance to see everyone is around and barks out orders. “Do this, do that!”

This type of boss is the dominant type, and likes to impose his/her will on others. This boss is very concerned about his/her image, has a short attention span, doesn’t really listen, and likes to tell people what to do. Initiative from others is not encouraged and people don’t perform when this boss is away because whatever they do will be deemed to be wrong anyway. People only work for this boss until it no longer suits them.

Although not always the case, I have seen many entrepreneurs and sole proprietors manage this way. It’s just a natural method for some people.

Subordinates of The Reactionary management method are really there to do what they are told and not ask any questions. I find if I am asked to assist a company where the boss has this style, that particular company often, not always, does not have very high level employees in terms of income or experience. Many of these employees have an exit plan waiting to be implemented.

The Persuader

These types of bosses are less frenzied, because they engage in a degree of small talk with the employee, and they do try and explain what it is they need from that employee. They are still in charge, but are not looking over your shoulder all the time. They know what they want but are much more interactive or “human”.

I find this to be a pretty safe management style. You can’t go too far wrong using it.

The Interactionist

These bosses are often regarded by others as being friendlier or warmer because they interact with you, get your opinion, ask questions, listen to you and then either act or allow you to act. Basically, they are more relaxed, they don’t really mind if you take the credit as long as the job gets done. They are not seen by others as being too strict. The problem is that sometimes if decide they are not happy with the way you have been doing things they then suddenly seem to be sitting on top of you.

The Abdicator

This kind of boss is someone that asks you to do something and then moves on, expecting you to get the job done. This boss may decide you know what you are doing, interacting with you occasionally, but pretty much lets you direct the operation by almost leaving you entirely alone. If something goes wrong it’s not the boss’s fault.

The All Rounder

This type of boss varies his/her management style. It’s a mix, so to speak. This boss seems to manage everyone differently. This boss could use a Reactionary style for one person, and an Interactionist method for another person. The All Rounder style is a flexible management method. It means that the same management method is not used on everyone.

So how should you manage, and is one method more effective than another method?

I recommend the All Rounder method, because it is a flexible method and how one uses it is the key to more effective management.

By way of an example, if you as a manager were to tell a room full of highly experienced nuclear scientists exactly what they should do to split the atom (as per the Reactionary method,) your management method is probably inappropriate. These highly skilled experts in atom splitting would reject your style and leave your organization when it suited them, telling all you are dictatorial manager.

Alternatively, if you said to some inexperienced, brand new employees” here’s the job, get on with it”, as per the Abdicator method, and these newbies knew little or nothing about the job, neither you nor your subordinates would achieve success either.

I find that there are a combination of factors that one needs to take into account in deciding what management method should be used.

It’s always been logical to me that you have to use a management method or style that is appropriate to the situation you find yourself in.

If you are giving instruction in handgun shooting you had better manage those newbies super tightly.

You need to observe the situation you are in and then adapt your management method to the skill set of your subordinate.

If you are teaching a child mathematics you should probably use a reasonably tight yet friendly management method like the Persuader because you really need to get the child to focus on and master what is required while not feeling threatened.

If however, you are interacting with a university math professor, you should logically use a looser management method or style like the Interactionist.

I believe you need to ascertain just how much your subordinate knows about a particular subject and then manage him either tightly if he/she knows only a little about that subject, or more loosely if they know a lot about what you want done. The key factor is to determine what the knowledge depth is that the person has of the subject.

The way to find out how much a person really knows about a subject is to ask pretty detailed questions. Probe. Don’t just ask the broad questions. Be specific, and use follow up questions as well. The answers you get will help you determine which management method you should employ to manage your subordinates.

Using the wrong management method is not good for the subordinate and certainly will not produce best results. My experience and the wisdom of others has proved to me that the All Rounder method is the most effective style to improve your organization’s performance.


Article Source: https://articlebliss.com/Article/882078/The-Way-You-Manage-Affects-Your-Organization-s-Performance.html

Online Payment Solutions for Small Businesses

Accepting online payments from your customers is a necessity for most businesses. Here are the most common online payment solutions available to small businesses.

The ability to accept payments online is important for small businesses today. Having an online payment option can increase sales and improve cash flow. You don’t need to have your own merchant account these days to do so, either. There are a number of third-party payment processors that allow small businesses to take payments from customers online and seamlessly incorporate this payment method into their business. Below are some of the most popular payment services used by small businesses. We’ve included information to help you compare the services and choose the best one for your company.

PayPal
PayPal is a widely used service for accepting payments online.The company offers personal accounts as well as business accounts, and allows small businesses to accept payments from other PayPal users, credit cards, Venmo, and bank transfers.

Whether you are a traditional brick-and-mortar business or an online business, PayPal makes it easy to accept payments from all types of customers, but there are limitations. For starters, it's not available in all countries internationally, so cross-border payments can be a problem.

PayPal charges 2.9% of the payment for an online transaction or 2.7% for a brick-and-mortar transaction plus 30 cents per transaction. Outside the U.S., those fees are 4.4% and 4.2%, respectively.

Nevertheless, it's free to transfer from PayPal to your bank. You can also add up to 200 of your employees to have limited access to your account.

• Acceptable payment methods: PayPal standards will accept credit and debit cards, direct payment from other PayPal accounts, and PayPal credit.
• Integration methods: PayPal Checkout allows your customers to pay directly through your website. You can also send invoices from your PayPal account to customers' email addresses. PayPal also has a card reader and a POS solution that allow you to take payments in person via credit card or PayPal card.
• Costs/Fees: PayPal does not have monthly or sign-up fees. Transaction fees are based on in-store transactions or online, as stated above, and geographic region.
• How long it takes to get paid: Receiving money into your PayPal account from another PayPal account is instant. Credit card payments usually take 3-5 business days. To send money to your bank from your PayPal account is free and takes one to three business days, but you can opt for instant delivery for a fee. Due to COVID-19, PayPal has temporarily suspended the instant delivery fee. You can also request a check with one to two week delivery for $1.50.

Square Integrates With Mobile

Square launched in 2009 and allows brick-and-mortar retail stores to integrate Square payments with their point-of-sale terminals and cash registers. Other brick-and-mortar businesses such as bars and restaurants, health and fitness clubs, home repair services, and professional services can also use it. Merchants can accept credit cards, debit cards, contactless and chip cards, magstripe, and more. You can even offer gift cards through Square.

The beauty of Square is that merchants and microbusinesses can accept payments either on the web or through mobile apps and hardware that connect to your established payments systems. The service also includes robust analytics that allows you to learn more about how your customers pay for your products and services. Square has a variety of fees for different merchant needs and almost all of them are lower than PayPal's.

• Acceptable payment methods: Square accepts mobile payments, credit cards, and debit cards.
• Integration methods: Square has a point-of-sale app and a card reader. They also have a card-not-present option for websites, phone orders, and invoicing. You can also use Square Terminal to take orders on your own computer. If you’re building an e-commerce website, you can order a custom integration.
• Costs/Fees: The POS app is free. The card reader is also free for the first reader, $10 for each additional reader. The transaction fee is 2.6 percent + 10 cents. Square offers custom pricing for businesses that process $250,000 in card sales and an average ticket size of $15. Invoice transactions cost 2.9 percent plus 30 cents per transaction. Card-not-present and Virtual Terminal transactions cost 3.5 percent plus 15 cents. E-commerce transactions cost 2.6 percent to 2.9 percent plus 10 to 30 cents.
• How long it takes to get paid: Transfers are next business day.

Stripe Targets Internet Businesses

Stripe, which launched in 2010, provides payment solutions for online businesses. Among other features, it allows online businesses to use the company's API to beef up their own operations. One such innovation is the ability to issue expense cards for employees and other physical and virtual cards.

Stripe is also active in countries where PayPal is absent. Payment methods include bank transfers, popular wallets like Alipay and WeChat, other local payment sources in various parts of the world, local currencies, Apple Pay and Google Pay, and, of course, credit cards.

Like Square, Stripe offers an awesome dashboard with analytics, and it also features a robust development platform for small businesses that want to build a successful online business model. Payment fees start are 2.9% plus 30 cents per transaction. However, larger businesses can work with Stripe to create a customized package that meets their needs. PayPal is easier to use, but Stripe is more flexible for online business and e-commerce.

• Acceptable payment methods: Stripe will receive payments from all major debit and credit cards from every country. Also, customers can pay with the major wallets--Alipay, Apple Pay, Google Pay, Microsoft Pay, WeChat Pay, and more. They also accept local payment methods from around the world including ACH, Bancontact, EPS, Giropay, SEPA, SOFORT, and more. And they accept 135 currencies.
• Integration methods: They can integrate with mobile, websites, POS, Email invoicing, and popular content management solutions such as WordPress, Drupal, Magento, Shopware, and WooCommerce.
• Costs/Fees: No setup or monthly fees. Stripe offers custom pricing for custom integrations with volume discounts, multi-product discounts, country-specific rates, and interchange pricing.
• How long it takes to get paid: Country-dependent. In the U.S., the minimum is two days. High-risk businesses could take up to 14 days. Stripe does support multiple bank accounts for different settlement currencies.

Venmo: The Up-and-Coming Payments Processor

Venmo is the new kid on the block. The service launched in 2009, but for the longest time, it was nothing more than a way for friends to send money back and forth to each other without huge processing fees. Now owned by PayPal, Venmo has issued its own credit card and allows merchants to accept payment through PayPal Checkout or by integrating with Braintree, another PayPal-owned startup, for mobile payments.

• Acceptable payment methods: Venmo is mostly a peer-to-peer payment app that allows friends to split bills at restaurants and send money to each other, but they have a business solution. Venmo has a debit card, but payment is usually within the Venmo app itself, so you need a Venmo account and you can download the app at Google Play and the Apple Store. A good payment method for microbusinesses.
• Integration methods: Mobile, website, and app. It also integrates with Braintree and PayPal Checkout.
• Costs/Fees: No monthly or annual fees. No fees to receive money, but there is a 1 percent fee to transfer funds to a debit card or bank account with .25 fee minimum and $10 fee maximum.
• How long it takes to get paid: Instant.

Amazon Pay

Amazon Pay offers third-party merchants a way to accept payments from customers who are also heavy Amazon users. Anywhere customers can buy from Amazon, Amazon Pay is there to provide payment processing for businesses that need a way to process online payments. Their Global Partner Program allows merchants to integrate Amazon Pay into their business model.

• Acceptable payment methods: Web, mobile, and Alexa Voice. Major credit and debit cards.
• Integration methods: Website shopping cart and mobile. Amazon Pay is compatible with BigCommerc, Magento, WooCommerce, Shopify, and other popular e-commerce solutions.  
• Costs/Fees: Web and mobile cost 2.9 percent plus 30 cents. Alexa Voice costs 4 percent plus 30 cents. Amazon Pay adds a cross-border processing fee of 3.9 percent for web and mobile and 5 percent for Alexa Voice.
• How long it takes to get paid: One to two business days.

FreshBooks

FreshBooks is a web-based small business accounting and invoicing solution. It’s easier to learn than QuickBooks and doesn’t include many of the robust features that small businesses typically don’t use anyway. It’s simple and easy to use.

In the last year, FreshBooks quit supporting PayPal payments. Instead, they now support ACH direct payments. Because they are an accounting and invoicing system for small businesses, particularly service businesses, freelancers, and web-based businesses, their fee structure is not transaction-based. Rather, it is subscription-based.

• Acceptable payment methods: ACH, major credit and debit cards, FreshBooks through WePay, and Stripe.
• Integration methods: FreshBooks integrates with most banks allowing you to receive ACH payments directly to your bank account. It also integrates with Stripe, which allows you to receive payments to your bank account. And FreshBooks integrates with WePay to send payments directly to your bank should customers choose that payment option. All of this is done directly from your customer invoice. FreshBooks also has a Virtual Terminal that allows you to receive payments from your own computer, in person, and over the phone. You can even set up recurring payments.
• Costs/Fees: Self-employed professionals and microbusinesses can bill up to five clients per month for $15 per month. For up to 50 billable clients per month, the fee is $25. It costs $50 per month to bill up to 500 clients. FreshBooks also offers custom pricing. For these prices, you get the ability to send invoices, create estimates and project proposals. You also get accounting reports. You get a discount if you annually. Additionally, you pay 2.9 percent plus 30 cents per transaction for credit card transactions and Stripe transactions, and 1 percent for ACH payments.
• How long it takes to get paid: Usually, two days. ACH is a little faster than credit card transactions.

Payment Processors Popular in Europe

While Stripe and PayPal are both available in Europe, and Square has begun its European tour starting with the United Kingdom, there are other payment processors that focus solely on European markets. Two worth mentioning are SecurionPay and Skrill.

SecurionPay claims to accept every payment processing method. Literally. What sets it apart from PayPal is its targeted focus on software-as-a-service companies, digital content, and pay-per-use scenarios. Its unique features make it an excellent option for micropayments and subscription-based business models.

Skrill is based in the United Kingdom. It's a popular application because Skrill has millions of users with an online wallet that allows them to make payments at merchants and online sites they use. Therefore, businesses have access to a wide user base right off the bat. There are some technical limitations to Skrill, but payment options are not one of them.

Other Payment Processors to Keep an Eye On

The science of processing payments online is ever-evolving. Two up-and-coming services are quickly changing the way merchants online and offline are accepting payments and allowing customers to pay for goods. Affirm and Klarna allow customers to pay for product purchases over time with fast and easy lines of credit approval at the point of sale.

Article Source: https://www.businessknowhow.com/money/online-payment-solutions.htm

Things to Ponder with Your Brand's Customer Experience During These COVID-19 Pandemic Times

It has been over a fortnight that COVID-19 is impacting customer behaviors and businesses worldwide. Now, as we all are adjusting our daily routines during these unprecedented times, CX (Customer Experience) programs are one of the most convenient ways to help measure, address and monitor customers’ changes that are required with support and compassion during these trying times.

However, as it may not be immediately apparent for several small businesses as to what they should do with their existing CX programs and survey to tide over this Pandemic, in this post allow us to look at three important questions that businesses may have about managing their CX programs and some tweaks to consider that can help ensure that they can understand and support their customers, while also offer their consumers a positive digital experience for consistent business growth.

What type of research businesses should use to perceive their visitor’s expectations during these COVID-19 times?

Now, in these exceptional times, businesses need to continuously understand the expectations of their customers and remain ever-ready to mitigate issues quickly. This means knowing what your brand can do to support your customers further or provide additional information that they can provide on their digital channels to the consumers of their offerings.

For this we as one of the award-winning vendors of the best small and medium business CRM software solution in the Salesforce Alternative CRM space, we recommend our readers to use a tactical approach to their research.
For example, engaging those customers who frequently access COVID-19 related content on your blog pages or website with a short survey focused on assimilating targeted feedbacks related to your brand’s efforts during these dark times.

Now the main objective of performing a tactical survey is to aid businesses to identify specific issues that your individual customers are experiencing now, and thereafter help mobilize your application, business website and your front-line teams to address them.

However, in these surveys make sure that you only ask questions that will provide you feedback which will help you to render aid to your customers, and due to this sensitive nature of COVID-19 Pandemic avoid asking questions that will not help you to do this.

The main objective of performing Experience Tracking surveys is to provide businesses a representative view of how all your website visitors are perceiving their digital experience and thereafter gain insights to help drive the CX strategy of your business.
In fact, these Experience Tracking surveys use a ‘Pre and Post’ sampling methodology, whereby you can invite a random sample of website visitors upon entry to your businesses’ websites to share feedback about their experience once the session ends.

Now as per our experience the disrupting effects of the Coronavirus Pandemic will impact the KPIs that you normally track with these surveys, like:

• Purpose of Visit
• Customer satisfaction and Overall satisfaction
• Task Completion
• NPS (Net Promoter Score)
• Customer Effort Score and Ease of Use

Nevertheless, changing the verbiage of these questions or the sampling approach to your Experience Tracking survey can also impact the KPIs in your easy to use CRM once you are using one to measure and evaluate the results of your surveys.

This is because, as the COVID-19 situation develops further in the next few weeks it will undoubtedly impact the customer journey and your customer’s requirements will also likely evolve and so being able to closely observer how well your application or website supports your consumers during this critical times is important for your business.

Therefore, to make sure of consistency in the tracking of your KPIs, we as one of the most popular vendors of the best CRM software for SMB organizations recommend businesses only to review the “Purpose of Visit” question to make sure that it accounts for any potential needs that you may expect to arise as a result of this unforeseen Pandemic.

In other words, the goal for performing this exercise is to limit the percentage of visitors who classify themselves as “Others” for this “Purpose of Visit” question and analyze these needs and your businesses’ abilities to meet these requirements during and after this Pandemic times.

Should businesses update their surveys to include information highlighting content about COVID-19?

Definitely!

As the Coronavirus Pandemic is disrupting how we as consumers complete our daily tasks, and how brands generally used to operate to meet their customer’s needs, many brands have already launched specific web-pages pertaining to COVID-19 and also Coronavirus relevant content to inform their website visitors of how this global crisis is impacting (or not impacting) their abilities to serve their customers.

Now while this is also true that not all website visitors may come with the specific intention of looking at this information, nevertheless a proactive approach to direct users to this content can aid in building trust in your brand during these unpreceded challenging dark times.

This is because we have been observing with several brands these COVID-19 associated web-pages are usually clearly highlighted or marked on the website, and an easy way you can bring more attention to these content is to include details or a link at the end of your survey (on the “Thank You” page) that might help in pointing respondents to where they can access more information based on their current needs.

Takeaway- Moving forward with your customer feedback program

Therefore as we all are adjusting to these new realities, in this COVID-19 Pandemic, your CX program must help you proactively understand your customer’s requirements and provide the insights you need to best support your customers and so using a targeted approach for COVID-19 specific surveys and for the present times keeping your Experience Tracking surveys somewhat untouched, is the need of the hours that will help you gather these insights and act speedily, while upholding a solid view of COVID-19 impact on the complete sentiment about your digital experiences in these dark days.

Article Source: https://www.articlecube.com/things-ponder-your-brands-cx-during-these-covid-19-pandemic-times

5 Business Lessons from Successful Entrepreneurs

Let’s make something clear in the beginning. Being an entrepreneur is, most of the time, a handful. It is more than "challenging" or "demanding". Being a founder is frustrating, it often puts you out of your comfort zone, and forces you to think and act faster than you’d like. Simply putーit is hard to run a company.

By now you might be thinking that we are exaggerating and trying to make you feel better. Guess whatーwe are not. Doubt it? We’ll let the statistics speak for themselves:

- According to Hustle, 30% of entrepreneurs live with depression.
- Small business owners reported that managing their business is four times more stressful than raising children.

Our founder would agree with both of these statements.

It is perfectly normal to feel discouraged, lonely and anxious. And, sometimes, you just need a small push in the right direction. A push from the people who have made a name for themselves or their companies.

That is why we decided to present you with the five business lessons from successful people that will inspire you and give you the strength to continue the neverending battle of running your own business.

Listen to Your Guts

Do you remember your beginnings? Do you remember the days when you came up with your business idea and set your mind to transforming it into reality? How you felt like nothing or no one was able to stop you, and you just knew that it was the right thing to do and decided to pursue that idea.

It’s normal for that initial enthusiasm to wear off after a couple of months (or years) of maintaining your business, but as much as it wanes, you should never stop believing in yourself and your idea. In fact, our first story will cheer you up and remind you why you should always follow your intuition.

Our first story today is one about Konosuke Matsushita, the man whose life consists of small business lessons.

Back in 1917, Matsushita was just an apprentice at the Osaka Electric Light Company. Although he had no formal education and was pretty young (only 23 years old), he had an eye for details and an engineering way of thinking.

What happened was this: Matsushita came up with an improved version of the light socket, but his boss wasn’t interested. Despite this, Konosuke never gave up on his idea! He believed in it so fervently that he decided to make samples in his own basement. Later, he went on to expand the product line.

Now, do you know which company we are talking about? Well, you might know it as Matsushita Electric or Panasonic, to be exact.

As you can see, the founder of Panasonic never gave up on himself and his ideas, especially in the beginning when it was the toughest for him to make it on his own. He listened to his gut and slowly created a multimillion-dollar company.

So, the next time you feel a bit down and are unsure of what you’re supposed to do, just listen to what your stomach has to tell you and you won’t regret any decision you make.

This is the first out of five business lessons. Each of them is equally important, so make sure you remember them!

There Is Always a Way to Achieve Goals

When you feel like the time is running out of your hands, that your employees are not capable of doing enough, and that you are far from achieving your goals and living your vision, remember this story.

Our second story is about business lessons that will, hopefully, put business and management into a new perspective for you. The story is about the founder of ZoomーEric Yuan.

In case you haven’t heard of Zoom, it is a company that offers a software for video conferencing, which also includes mobile cooperations and online meetings. If you Google it, you will see that the company’s headquarters is in San Jose, California while its founder is from China. That’s where the story begins.

In the mid-‘90s, Yuan wanted to come to America and make use of the Internet expansion, which, at the time, wasn’t all that popular in China. He applied for a visa eight times before he finally got itーon the ninth try. He had no idea that one of the biggest business lessons in his life has started. Make no mistake, this is not a story about persistence.

When he finally, after two years of applying, got to America, there was only one problemーhe didn’t know the language. So, what did he do? He started coding. Little did he know that he would soon get a job in WebEx, a company that provides its users with collaboration and communication platforms. And, as it usually happens, Eric saw a room for improvement and decided to make a new communication platform. This platform was born in 2012, under the name Zoom.

Why did we choose to include this story on our list of business lessons? Because just when you think that you’re all out of solutions, there is one waiting for you around the corner. You just have to keep your eyes open and they will lead you to your goals.

You Can’t Do It All by Yourself

We are sure you have heard various stories of business buddies that achieved great success together. We would like to highlight one in particular: a well-known Apple story, about two StevesーSteve Jobs and Steve Wozniak.

Don’t worry, this is not a story about acquiring a lot of money (the duo became millionaires in their twenties). It’s about being a team player. As you will later see, most business lessons have to do with being human, not getting rich.

Over the years, you might have noticed that people have started judging Jobs and his tech knowledge, and that more and more people have actually started glorifying Wozniak as the "brain of the operation". This is no coincidence. In fact, Wozniak was in charge of building the product in the beginning (Apple I and then Apple II), while Jobs took care of the sales part. Although people often refer to Jobs as the man who was a difficult work partner, the truth is that neither of them would have succeeded if they hadn’t stuck together.

Having a right hand to confide in and share your business with might seem like a good idea, but only if you pick the right person to work with. If you feel like you need an equal partner to help you run the company, you have to be careful and make sure that you trust this person enough to play such an important part in the business management.

And remember, one of the most important business lessons is that delegating work is not an acknowledgment of your incapability, but a recognition of your limits. It’s okay to make mistakesーafter all, you’re only human. This leads us to our next lesson.

It's Okay to Make Mistakes

As we mentioned above, it’s okay for you to make mistakes, even if you’re a busy founder. What you want to do, though, is take those mistakes, learn from them, and turn them into valuable business lessons.

In order to get an idea of what kind of mistakes we are thinking about, we are going to talk about Airbnb’s story.

Three years after Airbnb was founded, in 2011, a negative comment on one person’s blog threatened to ruin this entire company’s reputation. To be precise, a woman by the name of EJ left a comment on her blog saying that Airbnb renters had destroyed her home. At the time, it seemed like the situation had been properly handledーnot long after that, one of the founders, Brian Chesky made a public statement, saying that the company was going to do right by her. That’s only the beginning, though.

The women thought that all Airbnb wanted was to make things go away and was not pleased with the answer. The situation only got worse when another renter complained about crystal meth users destroying his apartment.

At this point, Chesky could have done the same thing for the second time and publicly responded to the man. However, he didn’t have the luxury to let the bad word spread, so he admitted that the company had made a mistake with one simple tweet: We screwed up and we are sorry. The tweet also included a link to the company’s blog, with the title Our Commitment to Trust & Safety.

Bad entrepreneurs would consider this mistake as one of the failures in the business management, but it is actually one of the best business lessons from successful people.

As you can see, this story proves that you can take control of how your users/customers perceive your brand. It is completely understandable to make a few mistakes along the way, as long as you own up to them and are open to the public eye. As you can see, nobody’s perfect, not even a multimillion dollar company like Airbnb.

Do Not Settle for Average

We have to admit this statement sounds like a cliché, but it’s the truth. Once you have reached one of your goals, don’t stop thereーalways think bigger and strive to do more. And, if you thought an article that includes business lessons from successful people could go without mentioning Elon Musk, you were definitely wrong.

Elon Musk. An entrepreneur who inspired actor Robert Downey Jr. for his role as the famous Iron Man. Believe it or not, Musk is more than a real-life Iron Man. He is a man that has a couple of companies behind them.

The first company Musk launched was a software company by the name of Zip2, back in 1995. Musk created it with his brother Kimbal, and it served as an online city guide for newspaper companies, which were trying to keep up with this new trend called the Internet. Without getting into too many details, let’s just say that one thing led to another, and four years later the company was sold. Musk received 22 million dollars.

The next one was PayPal, which was eventually sold to eBay, and then Tesla Motors Inc, SolarCity, HyperLoop, and more recently, the Boring Company.

We have to admit that Musk is a walking encyclopedia of business lessons. Alas, not everyone can be and think like Elon Musk, but this man is the living example of always trying to do more and making a change in the world. There is no need to settle for average or think small. Be brave and keep on challenging yourself on a daily basisーonce you start doing so, great things will happen.

Final Word

Entrepreneurs are modern-day supermen. They have an out-of-this-world strength and above-average intelligence which only goes up with the years they spend as founders.

So, next time you start doubting yourself, remember that you are not the only one, that a lot of people before you went through the same situation and came out as winners. Keep your chin up and channel your inner Elon Musk!

Article Source: http://www.articlebiz.com/article/1051644554-1-5-business-lessons-from-successful-entrepreneurs/

Saving Money When You’re Working From Home

I’ve been working from my home office since I went self-employed nearly two years now, and the pros definitely outweigh the cons.

I’ll deal with the latter first – and it’s pretty much just missing having colleagues. There are things I do to mitigate this, such as weekly video chats with other members of my money blogging community, though it’s not quite the same.

However, the freedom I’ve had over my hours and the ability to go off to the cinema or play tennis in the afternoon more than makeup for it.

It can also be a bit of a money saver, as those normal day-to-day expenses like travel and lunches go out of the window. And though there will be some extra costs, there’s plenty you can do to bring those down.

So if you are based at home, here are the things I’d recommend you look into how to make sure you’re getting the most from your money.

Make sure your internet is up to the job

If you get frustrated with internet speeds at the best of times then you are going to find it worse if you’re at home all day too.

I made the decision to move to Virgin Media’s high-speed network when I went fully freelance to make sure I could quickly upload my videos and podcasts, but you’ll probably be fine on a standard fiber line from the likes of BT.

But don’t pay too much for this. If you’re out of contract, this is your chance to shop around and look for the best prices. Always check what extras you can get from cashback sites – it could well be more than £100.

You should also haggle with your existing network to see if they’ll give you a free or cheap upgrade. If they think you’re genuine about leaving they do tend to magically find extra savings.

Get back-up broadband

If your internet goes down it’s likely you won’t be able to work. I’d certainly struggle to run this blog! Fortunately, my mobile network allows me to “tether” by computer to my phone’s personal hotspot and use the included data allowance.

It’s a great back-up, but it’s also been really useful in the past when I’ve not been able to get wifi on trains, hotels or in cafes.

I’m with Three, which lets you do this in the UK, Europe and even some countries across the world. , but most networks also allow you to do this. However, if you use more than your data allowance you could get hit with extra charges – and these can be very expensive.

Personally I’d ask my network to give me a warning when I’m close to my allowance and shut data off when it’s gone rather than get a massive bill.

If you do tether to your phone’s data, make sure you turn off auto-updates on your computer. As I discovered this can wipe out all your data very quickly. Fortunately, Three were good about adding some more data onto my account for free to help me get to the end of the month.

But having your phone as back up doesn’t mean you should suddenly sign up for unlimited data. Remember you’ll be able to connect to your home wifi throughout the day so you won’t need huge data allowances. In normal times most people are fine with less than 5GB or so. Here’s more on how to find out just how much data you need.

Avoid pricey conference call numbers

I’ve always hated having to call into conference lines which required an 0845 or 0870 type number – really expensive. So if this ever comes my way I always take a look at Say No to 0870.

You simply type in the number you have to call and it’ll let you know if there is a normal (01, 02 or 03) or freephone number you can call instead.

Alternatively, there are lots of video conferencing options that won’t cost much money. Facetime, What’s App and Facebook Messenger all allow you to talk to your contacts but can be limited.

I tend to use Zoom and the free option lets you talk for 40 minutes. That should be more than enough for a meeting. If you need longer then you can just start a new meeting.

Use free software

You might be used to Microsoft Word or Excel in the office, but there are free cloud-based alternatives which will be just as good for most people.

I use Google Docs for everything, and I can access them from any computer or device as long as I log in with a Gmail account.

Reduce your energy use

The obvious change for gas and electricity is to switch your supplier to the cheapest fixed deal. Easy, quick and a big money saver. You absolutely should do this.

But there’s more you can do too in terms of making your home more efficient, from easy fixes such as using draft excluders through to longer-term measures like loft insulation. Here’s a good list of quick wins to reduce how much you use via the energy saving trust.

Personally, I make sure I’ve always got a warm hoodie in my office, and for winter I’ve got a pair of fingerless gloves to allow me to keep typing away.

Find out what you can claim

If you are working for a company, check to see if they will fund extra costs you have as a result of being at home. That could be contributing to your phone or broadband bills, supplying an ergonomic chair or even buying a laptop.

If you’re self-employed then talk to your accountant about any allowable expenses you can use to lower your tax bill.

Shelling out now can save more money later

If you have to buy everything yourself you might be tempted to just blag it with what you’ve already got. If that’s a laptop and a sofa then you could be asking for trouble.

Hunching over a laptop and slouching on the sofa all day is likely to cause you all sorts of problems with your back and shoulders, which could eventually lead you to pay for massages and physiotherapy.

To reduce the chances of this I got a stand-up desk from Ikea, but even just a standard desk will help. Make sure your chair has decent back support.

I also use a desktop computer so I’m looking straight at a screen rather than down, but if you can’t afford a new computer you could look at buying a monitor instead and connecting your laptop.

Don’t forget to go via cashback sites for anything you do buy to maximize your savings.

Have some self-control in the kitchen

Ok, so if you don’t have to buy your lunch each day you will save some money. Great. I find that I don’t have the time to make a proper lunch so I tend to make sure I cook more the night before and have the leftovers.

When you know you’ve got a fridge or cupboard with snacks and treats it’s really easy to just pop to the kitchen and grab a bite to eat. This isn’t just bad for your waistline, it’s not great for your bank balance either.

I also try to make sure there’s fruit available so I don’t resort to chocolate and crisps.

Save your savings

Despite the odd extra cost, you’ll ultimately be paying less – particularly as you won’t have commuting costs and there’s less need to buy new clothing that’s office-friendly.

So what do you do with that spare cash? Save it. Don’t make the mistake of just leaving it in your current account. Do that and you’ll just spend it elsewhere.

You need to set up a separate savings account and move any surplus to it. This should be somewhere that pays the best possible interest.

Article Source: https://becleverwithyourcash.com/money-saving-when-youre-working-from-home/

How to Avoid Overpaying for Everyday Business Expenses

Every penny counts to small businesses, so paying too much for the things your business needs just isn't an option. Here are eight ways you can save money on everyday business expenses.

You’re a small business. You probably don’t have the money-is-no-object budget of big businesses when it comes to every day expenses. In fact, you’re probably trying to pinch pennies while providing your employees the tools they need to do their best work. So how do other business owners save money on—well—everything? Here are a few ideas.

Don’t Hire. Contract!

Gone are the days where you have to bring on a part-time “employee.” Employees need an office and/or equipment, you’re on the hook for a portion of their taxes and insurances, and you have to invest a considerable amount into training.

Instead, hire a contractor or freelancer. They’ll require some training but outside of that, all you pay them is the cost of the job. No taxes, no worker’s comp. insurance—just a fair wage for outstanding work.

But be careful. The IRS has very strict rules when hiring a contractor. For the most part, you can’t have any control over their schedule, you can’t act as their manager, and you shouldn’t provide them with any type of company uniform, among others. If you break the rules, they’re an employee. If you’re not sure, use IRS form SS-8 to figure it out.

Cut the Office Supplies

Nobody is saying not to provide paper for the copier but if you’re still following the old playbook of stocking your closets with binder clips, post-it notes, and boxes of pens, there’s probably not a need. Technology has made offices much more paperless. Those to-do lists that were once kept on post-it notes can now be saved on an app. Filing cabinets have been replaced with Dropbox and Google Drive, and there’s no need to print everything out.

You also don’t need swanky, high-end desks. If you have an IKEA close by, head there and buy desks on the cheap.

Teleconference your Meetings

Is it essential that you’re all in the same room to hold a meeting? How about a teleconference? There are plenty of conferencing platforms on the market and some are pretty expensive but if you only have a few people in the meeting, consider Google Hangouts. For meetings of 10 or less, all your people need is an Internet connection. It’s completely free and easy to use.

If you need a more robust platform, platforms like GoToMeeting will cost $50 per month for up to 100 people but that’s still cheaper than flying people to one location.

Speaking of Technology

First, Internet. Depending on your type of business, you may not need business-class service. If you have a lot of employees or they’re doing high-end computing tasks that actually require a robust service, then business-class speed is a necessity. But if you only have a couple of employees and they’re performing basic computing tasks, you can probably get by with a slower speed at a lower price. Don’t buy more than what you need.

Second, no need to upgrade your equipment every time something new comes out. Purchase every other software update instead of each one unless there are large amounts of security updates. No need to buy the newest iGadget either. On the other hand, don’t be cheap. New features and faster, more efficient hardware could be a cost saver. Buy and update, skip an update, buy an update—that makes for a reasonable upgrade cycle.

Don’t be Too Loyal

In business, loyalty to vendors can be a plus but don’t be too loyal. That insurance agent you play golf with might not have the lowest rate. The vendor you’ve done business with for decades may not be the best deal. At least once per year, compare prices and don’t be afraid to do some haggling. Loyalty means giving your current vendors the opportunity to match prices. It doesn’t mean paying more for the same product.

Stop Paying Finance Charges

There’s no way around it—if you’re paying finance charges, late fees, or bank charges, you are throwing away money unnecessarily. If you’re paying annual fees on a credit card, unused gym membership fees, and strange fees from a vendor, it’s time to cut these out. Every business ends up having a bit of money bleed. Audit your books regularly. Ask questions about every charge, regardless of how small it is, and refuse to pay unnecessary fees. You can’t avoid taxes but fees are negotiable.

Advertise Online

Advertising takes a lot of time and research to get right. That doesn’t mean you should pay for a mailing and hope it works. Online advertising gives you more control over the audience that will see your ad and you can spend as little as a few dollars each day if you want to. Carefully measure your advertising efforts and use the platform that converts the most people.

Partner with Other Businesses

Businesses are finding creative ways to cut expenses by sharing. Businesses sometimes rent a large office space and move in together. They can then share Internet service, other utilities, and office equipment. Companies like Uber have made “sharing economy” a household term. There’s no reason your business can’t take advantage of it too.

Bottom Line

Just like at home, a little bit of digging will probably reveal ways to keep more money in your bank accounts. That’s just as important as gaining more customers.


Article Source: https://www.businessknowhow.com/money/bizexpenses.htm

Business solutions during COVID-19 – Talk to your bank

In a very short period of time, COVID-19 has dominated the global and national news agendas. With the majority of the country now instructed to work from home wherever possible, and to avoid going to pubs, clubs and restaurants, a large number of UK business are already feeling the strain.

As the Government moves to – understandably – try and prevent further contagion where possible, businesses of all shapes and sizes will already be feeling the economic effects of the crisis. ‘Business as usual’ has been the overriding message, however in order for this to become a true reality, contingency plans must be put in place. Rather than trying to be too exact about finer details at the moment, a thorough plan should consider a number of possible scenarios, along with accompanying impact analyses, which can flex depending on the changing economic and social landscape.

All organisations, even those with generous cash reserves, would be wise to open lines of communication with their banks sooner rather than later, as funding is going to be critical for the coming months. Particularly when it comes to cash flow, the requirement for unexpected investment in extra stock to prevent supply shortages could come as a surprise. In this situation, it’s essential to speak to lenders about overdraft facilities, especially if suppliers up the chain are also behind on payments due to cash flow pressures.

The nature of the spread of COVID-19 means that an increasing number of workers are going to be self-isolating if they begin demonstrate symptoms, in an attempt to stem the spread of the virus. However, for businesses, the impacts could be severe if a large proportion of the workforce place themselves in quarantine. New regulations which came into force last week state that employees who show COVID-19 symptoms, and self-isolate in accordance with published guidance, are now entitled to claim statutory sick pay from day one. Despite promises that Government will refund these payments, the timeframe remains unclear and the lag before reimbursement could put even more pressure on cash flow, especially if temporary workers need to be recruited to provide cover.

Employee bases moving to work from home, aside from throwing up operational challenges, could require businesses to unexpectedly source capital to provide suitable IT equipment, such as laptops and mobile phones. All of this will be necessary to keep the business wheels turning, but this investment has to come from somewhere and if cash reserves don’t look like they will stretch far enough, talking to banks about potential short-term funding options would be a wise move.

Cash flow for expenditure aside, many businesses will have several funding agreements in place with different banking institutions. Attached to these could be a range of different covenants, which could be breached depending on the evolving consequences of the COVID-19 crisis. For example, some agreements will often contain ‘clean down’ conditions, which require the businesses to keep accounts in credit for a set number of days each month. Other covenants which could cause issues may be around leverage and debt servicing ability. If a business is aware ahead of time that a breach is likely, then proactive action can be taken to mitigate against this, however any business owner who is unsure should ask the advice of their baking adviser sooner rather than later.

The UK’s banks will be doing their bit for the business community. The sector recently came out with a list of emergency measures, including suspending loan repayments and fee-free emergency loans to help businesses already facing challenges caused by the COVID-19 crisis. Its early days still and support amongst the banking community is only likely to increase.

Importantly – no matter how great the support on offer is – banks hate surprises and they won’t know what they don’t get told. Opening a dialogue at an early stage and laying cards on the table is far more likely to result in workable support than burying heads in the sand. Also, it’s important for businesses to realise that they’re not alone when asking for support – this will be a common situation across the whole of the UK.

Crucial at uncertain times like these is having a plan in place which can flex as circumstances change around the country. Business leaders who feel like the pressure of decision making rests solely on their shoulders should aim to involve other employee groups, if possible. Extraordinary times call for extraordinary approaches and faced with uncertainty, no idea is a bad idea.

No one is under the illusion that the coming weeks and months will be easy for the UK’s business community. However, financial support is out there and it is essential that lines of communication between organisations and their funders are kept open, to ensure that wherever possible, UK businesses weather the storm and come back fighting.

Article Source: https://www.globalbankingandfinance.com/business-solutions-during-covid-19-talk-to-your-bank/

Planning for Success - A Positive Approach

Are you a good or bad planner? Do you cringe at the very mention of the word 'plan'? If you do then you are not alone. Thousands of online (and offline) marketers find themselves in the same position.

A good many of these people may well have never considered a plan of action as part of their daily marketing activities. Others may think they are too busy to spare any time for planning. Still others may feel they do need to plan, can see the benefits to be gained from planning, but don't think their skills or personality are suited to this task.

It seems perfectly clear to me that without planning, the long term success of any business,large or small, is unlikely to be realised!

A plan need not be elaborate. It need not be detailed, but you should at least commit something to paper.

Start off by taking a positive view of planning. Don't just look at it as 'another boring chore I've got to do'. Say to yourself 'This is my plan for success.'

Also consider the following benefits to be gained from good planning:

• you can meet deadlines
• you can meet or even exceed your targets
• you can create a feeling of achievement for each step you fulfill
• you can monitor and control your marketing activities to greater effect
• you can initiate improvements
• you can achieve personal growth and success

Once you have accepted that planning for success is a positive thing, it is then time to think about your goals. And just what do you want to achieve? Why are you marketing this or that product in the first place? Do you know what your short term and long term aims are?

Answering these questions accurately will enable you to take a big step forward to achieving whatever goals you ultimately set yourself. So what are your goals? And how do you plan to achieve them?

The great thing about targets is they give you a way to measure your performance and give you a sense of direction - you are going somewhere. It is important also to consider that in order for your goals to have substance and meaning they should satisfy the following criteria:

• they should be achievable
• they should be measurable
• they should be challenging though NOT impossible

Here are THREE achievable, measurable and challenging goals that Bill, an Ezine owner, has set himself:

• to get 200 subscribers within the first three months following launch
• to ensure that AT LEAST 70% of subscribers are still in place after 6 months
• to increase the number of subscribers by 800 in the year following the initial 6 month target

What three goals relating to your business can you think of that meet the above criteria? Write them down.

Now let's look more in depth at each of Bill's goals to see how he can evolve an Action Plan that will enable him to meet each goal in a systematic, cost-effective way.

In order to work out the Action Plan he should consider a set of specific questions he should ask. These questions are:

• When should this happen?
• How is it going to be carried out?
• How much is it going to cost?
• Who is going to do it?

GOAL ONE:

To bring in 30 subscribers

WHEN:

Within the first 30 days

HOW:

By advertising in Ezines, on PPC Search Engines, via opt-in email lists, and via other media such as Classified Ad sites and also offline via magazines and periodicals

WHO:

In the first instance Bill himself and then by others as the subscriber base grows

HOW MUCH:

The budget is under $50 a month

Bill's next step is to start to put together the Action Plan in more detail. This is a very important stage of the overall plan because it focuses on specifics:

• how many hours is he going to devote?
• which specific advertising media is he going to use and how often?
• which advertisements is he going to use?

When getting down to the nitty gritty of executing his plan, Bill will try to keep in mind:

• his daily advertising routine (stick to it)
• whether he is keeping to the budget
• his target

When considering your own marketing campaign always think to yourself that EVERY day you follow your Action Plan is a step closer to the achievement of your goal!

Article Source: http://www.articlegeek.com/business/management_articles/plan_for_success.htm

A Change Will Do You Good

As the last rays of summer's warmth ebb away and the gentle breezes of autumn waft themselves upon us, we recognize once again, that change is inevitable. Nature is constantly changing and yet, so many people have the notion that change is frightening.

People are creatures of habit and some find it difficult to adjust to changes that are certain to come our way. Life is like an old, comfortable pair of shoes. We may realize that we need new ones and we may even find new ones we really like, but, we know that changing will cause us discomfort for a little while until we break them in.

Sometimes we need to realize that life isn't always easy. What may be better for us is not what we are used to, but it is certainly worth the trouble of breaking in new habits and lifestyle changes.

Change does not have to be painful. Just look to nature and it will give you clues to how change can be effortless. The beautifully colored autumn leaves do not hang on to the old tree for dear life. No, they yield to the changes with ease and float gently off the tree.

With the coming of autumn we have been busy in our gardens pulling up the old stuff and getting ready for a time of rest. We know that the ground must rest and next year there will be more wonderful things in our garden to delight us.

Are there things in your life that need to be gently eased out of your life? Maybe there are bad relationships or habits or thoughts that need to be weeded out of your life. Don't be afraid to do a little gardening in your own life.

Every gardener knows that unless we get to the roots, we really are not getting rid of the problem. It may go away for awhile but unless we get to the root, it will sneak back into the garden very quickly.

Although the harvest time is here there is no time to stop weeding the garden of our minds. This garden needs constant attention in order for us to flourish and be all that we can be. The only way to keep this garden in top shape is to make sure that no weeds are there trying to strangle any good we are trying to do. The weeds of our mind, of course are negative thoughts that like to creep in and keep us from achieving that which we are striving for.

William James said, "Human beings, by changing the inner attitudes of their minds, can change the outer aspects of their lives.

How do we change the inner attitudes of our minds? By changing the way we think. We must put fear and negativity behind us. How, you ask? Just as the leaves of autumn gently blow from the tree, don't try and make a change in your thinking over night and expect to get instant results. We cannot rip these thoughts out of our minds, as much as we would like to sometimes. No, we need to be gentle on ourselves and let positive thoughts replace the negative.

Yes it will take some work on your part. You must constantly fill your mind with positive thoughts. Proverbs 27: 3 says, As a man thinketh in his heart, so is he. We are what we think. When the negative thoughts come into your mind, you must be ready and willing to replace those thoughts with positive ones. Just say to yourself, no, I won't let that thought take over my mind, I will think positively. Affirmations are good to have readily available so you can replace the negative thought with the positive one. It won't be easy, it won't be hard either, it will just be different, like that new pair of shoes we were talking about earlier.

The autumn leaves fall to make way for new life. We too must go through changes that will bring new growth to our bodies, souls and spirits.

Change is inevitable, so why fight it? Why be afraid of it? Yes, change will require us to do a bit of readjusting but it is always worth it. Don't be afraid of change, a change will do you good.

Article Source: http://www.articlegeek.com/self-improvement/self_improvement/change_will_do_you_good.htm

You Have to Take Risk to Achieve Greatness - Video

Grant Cardone shares his thoughts on taking risks.

How Much Money Do Business Owners Need to Retire?

How much money do you need to retire as a business owner? You may think the sale of your business will fund your retirement, but will that be enough? Here's what you need to know.

Small business owner? Hoping to retire someday? Just like anybody else, the action steps for reaching that goal have to start as early as possible. Ideally, decades before you reach your 60s or whatever age you hope to say goodbye to the workforce.

Next question: How much will you actually need to retire? Your numbers aren’t any different from a life-long employee of corporate America but your path to the goal might be significantly different. Let’s look at some factors.

Sell Your Business
You have something that many potential retirees don’t have: A business that you can sell to fund your retirement but let’s camp out on this one for a while because selling your business for a significant amount is going to involve some strategy and possibly a rethinking of your business model.

Watching financial media might give you the idea that you build a business and later sell it for millions or billions of dollars, but most small businesses sell for far less. The businesses that do sell for a lot of money first groomed themselves to be acquired.

How do you set yourself up to sell?
Make yourself dispensable- Nobody wants to buy a business built around an individual. If you’re a well-known cake decorator and everybody thinks YOU’RE amazing, you have a problem. Nobody would buy your business because if you leave, there’s no business. How will you make yourself able to walk away?
Look at your numbers- Are you profitable? Are your books complete and easy to understand? Do you have years of stable sales and growth?

Documented Processes- Will the new owner be able to take over without having to learn everything from the beginning?

Diversified Customer Base- You can’t sell a business that survives on 1 or 2 big clients. What happens if they leave during the transition?

You can find plenty of articles about making your business sellable but if you hope to get enough money to fund your retirement, make it as sellable as possible. The truth is that few people get as much for their business as they believe they should. Understand how others will calculate the value of your small business. And, don’t rely on the sale of your business to fund all of your retirement.

Retirement Savings
You need to plan for retirement by putting money aside in an investment that is not tied to the sale of your business.  One way, no matter how big or small your business, is to start a 401(k). If you have employees, there are laws that require you to make the plan available to them as well. An IRA is unlikely to allow you save enough to reach your retirement goal. There are other tax-advantaged accounts you might look at to help you save enough but the 401(k) is the best known.

Build Retirement into Your Pricing
Don’t make the mistake that so many small business owners make. When you purchase from other companies, it’s likely that some fraction of a percentage of the purchase price goes toward funding a portion of the retirement of all employees at the company.

You should do the same thing. Calculate how much you will need once you reach retirement, figure out how much you will contribute monthly to reach that goal, and work that number into the price of your goods or services. It will likely be such a small amount that customers won’t notice a meaningful increase but if you’re not intentionally funding your retirement each month, you won’t reach your goals.

How Much Money Do You Need for Retirement?
The answer may be a lot more than you  expect. It depends on a lot of different variables, especially if you’re a business owner. There are many calculators and formulas you can find online, but the best way to get a meaningful number is to meet with a financial planner and let them calculate the numbers based on your personal circumstances and the data you provide to them.

What we can say for sure is that people are living longer. According to the US Social Security Administration, a man who reaches the age of 65 today will live on the average to the age of 84.3. A 65-year-old woman can expect to live to 86.7.

You will probably need at least 60% to 80% of your current income each month – or more, depending on your lifestyle and where you live. Health insurance alone will be a big and ongoing cost. One retiree and business owner we spoke to recently said that the combined cost for Medicare and Medicare Supplement Health Insurance for her and her husband comes to over $1,000 a month.

If you’re currently living on $60,000 per year, 70% would be $42,000 before factoring inflation into the mix.

Currently, the average monthly Social Security check is $1,294. That helps, but it doesn’t go very far when you add up all your expenses.  Your monthly expenses may include these and other items:

• Health insurance
• Real estate taxes
• Rent or mortgage(if you haven’t paid off your mortgage
• Home insurance
• Utilities (gas, electric, oil, cable, Internet)
• Food and other necessities
• Car payment if/when you need to replace your vehicle
• Car insurance
• Income taxes (Social Security Income is taxable for most folks)

To determine how much you will need to retire, you need to have an accurate summary of what you spend now for your basic needs as well as how much money you might need to travel or do other things you’d like to do in retirement. Take that information to your financial planner and let him or her help you set your retirement savings goals and understand what you’ll need to do to reach them.

Disclaimer: Remember what we said—these are very general numbers but what we know for sure is that you can’t rely on the sale of your business to fund all of your retirement. Betting on your future income to fund retirement is a fool’s game. Anybody who has lived long enough knows that the future is often nothing like we believed it would be.

Bottom Line

Don’t be scared of the future but think about how you can intentionally start saving for retirement. Yes, margins are tight but this is too important to ignore until the business gets more solid and reliable.

Article Source: https://www.businessknowhow.com/money/business-owner-retirement.htm