Author: Scott Asai

Helping people develop their leadership skills to advance in their career

The Advantages of a Positive Relationship With Your Suppliers

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The relationship between a supplier and a business is incredibly important. It’s a mutually beneficial partnership that helps both companies prosper; without a supplier, businesses can’t operate efficiently and without a successful business, suppliers have no demand. It’s a relationship that can define a business’s success, but also one that can be used to your advantage if you’re willing to nurture a positive connection to your suppliers.

In this post, we’re going to take a look at the advantages of a positive relationship with your suppliers and how it can help you run a successful business.

Minimizing drastic price differences and product quality

Depending on what you’re actually purchasing from the supplier, you shouldn’t be surprised to see prices and product quality fluctuating wildly. There are a couple of reasons for this; firstly, the raw materials required to create the products your suppliers provide will always change in price.  Another reason could be the current market conditions or even political issues that are affecting the cost of importing and exporting goods.

Product quality is also a huge concern when it comes to price fluctuations. For instance, if you’re looking for concrete for contracting purposes, then it’s important to pick and stick to a company such as ridgeconcrete.co.uk that can guarantee superior slabs and high-quality products every time. If you constantly shop around for better deals then there’s no company loyalty which means you’re going to receive an average service every time. With a good relationship, you can learn more about a product’s quality, why prices are fluctuating and perhaps even receive fixed prices for being a loyal customer.

Reducing operating costs

Setting up a deal with a supplier usually involves a slight setup cost. This is because the logistics of a large delivery and producing the amount of stock you need can take some time, especially if that stock is also being bought by other similar businesses. By cooperating with your suppliers in a positive and friendly way, you’re creating a mutually beneficial relationship that helps to ensure that the supplier gets a constant stream of demand.

By creating this demand, you make it easier for the supplier to predict their profits and stay afloat. As a token of their appreciation, suppliers will typically offer discounts to businesses that purchase in bulk and have proven to be reliable customers. The fewer issues you encounter, the more likely your supplier will give you future discounts. It will also help to reduce the amount of time it takes to solve logistics issues and they are more likely to reimburse you with a generous refund if something goes wrong.

Improved customer service

As explained in this article at growingforward.net, customer service can be a big problem when it comes to profit issues. Most suppliers enjoy having cooperative relationships with customers because it helps them offer improved customer service. This, in turn, means that your customer experience will be improved.

Issues will be resolved faster, you might have a contact that you can phone for last-minute deliveries and rush orders, and they may even recommend you as a trustworthy business to companies that are seeking your services or products.

 

 

Problems With Profit? Address These Issues!

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When it comes to business, the aim of the game is always to turn a profit. You might have escaped the rat race and set up your own venture for reasons other than money, but unless you’re making more than you spend then it simply won’t be a success. For this reason, when profits start to plummet and making money slows down then it can be incredibly stressful for you as the owner. In some cases, it’s a relatively simple fix to get things moving again, other times it can be more sinister and be a clue that your company is on a downward spiral. Here are a few things to consider if you’re noticing your earnings aren’t as good as they were. 

Unreliable equipment

Most businesses will have equipment that they need to make their company run, it could be anything from industrial printers to ovens to forklift trucks depending on the nature of your business. When these pieces of kit break down, it can mean time and money lost in your company; while occasional breakdowns will happen no matter what you do, if they’re happening all the time then something needs to be done. It can be a struggle for smaller or newer companies, when you don’t have the cash up front to buy new and the most modern equipment then you might feel your only choice is to go second hand. But there are ways around this, for example you could hire equipment from a third party company. While there will be costs each week, month or year, if anything goes wrong and it breaks down then it will be fixed with no expense to you. Providing of course that you weren’t responsible for the breakdown. This gives you peace of mind, and later down the line when you’ve earned more money you can look into investing in high quality equipment yourself. Once you do, make sure your equipment is insured so that if anything goes wrong, a replacement or repair can be organized quickly. Having some form of backup equipment or making sure you’re ahead with work means if you are stuck without an item you need, you’re not losing money or letting down clients or customers with orders.  

Theft

Theft costs companies serious amounts of money. Maybe you’re a shop and thieves are putting smaller items into their pocket, or it perhaps an organized have managed to steal large amounts of stock, money or data. Always ensure that your premises are firmly locked up with proper security measures to try and avoid this, such as lockable shutters and a sturdy safe. Don’t keep excessive amounts of money overnight, even if you feel it’s safely locked away- you’re much better off arranging regular cash collections. 

Unsuitable marketing

When it comes to marketing, you really do  need to spend money to make money. It’s not enough to have a good business selling things that people want, with so much competition out there you need to get the word out there to the right customers. Marketing can be expensive but its something within your control, you can work with a marketing agency who will put you on the right path to success and have the skills and experience to make that happen. It can be annoying as a small new company to have to spend huge amounts of your budget on promoting, but without it you simply won’t succeed. The last thing you want is to have to dissolve your company due to silly mistakes made on your part. If you’re noticing a decline in sales, it might be a case that you need a new strategy or some new marketing materials.

Legal issues

As a business, there are all kinds of legal obligations that you’re responsible for- and if you neglect any of these things there can be serious repercussions. Perhaps an employee or customer slips and falls on a wet floor where no sign was put down. Maybe a customer has an allergic reaction where ingredients weren’t properly listed, or you employ someone without running strict enough background checks and they’re not entitled to work in the country you’re in. In many cases, these can be very easy mistakes to make but put your whole company in serious jeopardy.  For this reason, it’s important to make sure that you have the right insurances. If legal proceedings are ever taken against your business, you won’t end up out of pocket- it covers your back if the worst were to happen. Legal issues can be incredibly expensive, if you’re not insured there’s a huge chance it will end in bankruptcy. 

Poor customer service

Customers expect a good standard of service when they shop with a business, you’ll know this as a customer yourself. If you received a rude or cold response from a company, would you return or would you shop elsewhere? Business is highly competitive, so whatever it is that you do or sell, there will be plenty of others out there doing something similar. Train staff so they’re dealing with matters of customer service correctly, and make sure everything is handled in a polite and timely manner. Many businesses rely on repeat custom to make a profit, so don’t overlook the fact that poor customer service will result in lower profits.

Your brand is your business

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Your brand is your business. Get your name out there, have something memorable and that appeals directly to your target audience, or run the risk of falling short and turning customers off what you’ve got to offer.

Getting your branding just right is a difficult endeavor and is as unique as your company, whether you’re a taxi company or sell Personalized Bricks, Pavers & Tiles. There’s only one of you and you need to rise above the rest in a sea of competition.

In this blog, we take a look at why you might need to shake up your branding and take your business to new levels.

You’re Identity Has Shifted

When you started your business you had a firm idea of what that business was going to offer and designed your branding around those specific goods or services. As your business has grown and become more refined, it’s moved away from those original offerings and taken on a different persona.

Yet, your branding has stayed the same and now it’s time to recognize that misalignment needs to be addressed. It’s time to match up your brand to better reflect who you are and your unique place in the market.

Your Competition Is Too Close

As you’ve grown, so has your competition and what the style they’ve adopted is clearly apeing your own. If you fear it’s affecting your customers’ abilities to tell you apart then it’s time to relaunch your style and get going with a fresh look.

Don’t go it alone, get a branding expert on board to give you some expert advice.

You’re Out of Touch

Quite simply the market and your customers have moved on and your style looks distinctly dated. While some companies thrive on the history of their brand, yours just looks old fashioned. The knock-on effect of this is that you won’t find it easy to launch new lines while your business is still associated with an older style of product. 

Dare to be different as you relaunch with a new look but consider keeping elements of your old design to act as an anchor point for your most loyal of customers.

You’re Planning a Price Hike

One of the most effective ways to persuade customers that your new prices are worth paying, is through a brand redesign. Your new look works to convince customers they are getting the latest, freshest product and are, therefore, more likely to pay your higher rates.

Whatever the reason for your re-brand, you need to spend some time researching what your competitors are up to, how they’re positioning themselves in your market and what you need to do to become a stronger competitor.

Get some professional expertise on board to talk you through your options and come up with a brand that reflects the products your sell, the identity you want to promote and the prices you’re selling at.

A fresh look, a great new brand identity and you’re going to be back on the market looking better than ever.

Don’t Test Your Patient’s Patience When It Comes To Test Results

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Medical tests are always nerve-wracking. Results like these can, after all, often determine our future more than even our exam results. And yet, it’s astounding how many healthcare centers fail to treat results with the care that they deserve. An astounding amount of patients report having to chase up or even go without test results altogether. Many even make the mistake of assuming everything is okay because they haven’t heard anything, which can lead to extreme worsening of unchecked conditions.

If you want to develop the best reputation for your facility, then you need to take care when it comes to how you handle and process samples and results. Admittedly, you will be somewhat limited here by the lab which completes tests for you. Still, taking the following steps can make sure you stand above the healthcare crowd with results your patients can rely on.

Make sure samples are treated right before arriving at the lab

Often, test result issues occur due to improper treatment of samples before arrival at the lab. Perhaps the most common problem here is the incorrect labeling of a sample. In general, you need to make sure that everything from patient name to test type is printed on each vial. It’s also worth noting that many labs will not test a sample if it doesn’t come with a qualified signature. These might seem like small things, but they could sabotage a test and leave a patient lost without any clue. Make sure, then, that you train all staff in proper labeling for every single sample.

Equally, the way that you treat samples before their arrival can have a significant impact on whether results are even produced. Contamination of any kind is a real no-go as a lab will be unable to achieve reliable results. Equally, proper storage in a medical fridge from companies like Ethicheck Ltd is vital for making sure samples arrive in the right state. Make sure, then, that you also train every member of your team in how to properly seal samples, and how to store them.

Be clear on timelines

Doctors tend to be hazy when it comes to timelines about results. Some may advise patients of waiting periods between 2-5 days. That’s pretty broad and can make it difficult for a patient to understand what they can expect. Not to mention that leaving times open like this could make it easy for you to lose track. 

By comparison, setting a clear timeline should help you and your patient to keep on top. If you know a sample should be ready in five days, for instance, you can make a note to chase it up if you haven’t heard anything. Equally, your patient will be able to relax a little during the wait and know precisely when to call up if they haven’t heard anything. In short; this takes a whole load of the guesswork out of the process, and it could work wonders for your reputation.

Admittedly, you may need to put a little groundwork into making this assurance possible. Timing is primarily out of your hands once samples leave your facility, after all. Still, partnering with a lab who are specific about test times can go a long way. Equally, seeking a small-scale lab which can produce results faster might work best for faster turnover.

Securely store informationIt’s not fair to put the entire blame for test results on your lab of choice. The fact is that many medical centers are responsible for losing test results even after they come back. Letters can get lost in the mail, or files can vanish on computers. In some cases, something as simple as overlooking an email can lead to significant issues here. 

To make sure this doesn’t happen, it’s vital that you consider how you store patient information. For one, you need secure and easy-to-manage systems in place to make sure that you never lose track of patient information. It may also be worth considering automation of your systems. This way, letters can go out to patients the second you get their results back, all without any room for human error. Even just implementing a system which can automatically collate details from emails into surgery calendars could do the trick here. 

Either way; you want to be sure that there’s never any risk of overlooking something a patient has waited weeks to hear about. That would be a significant downfall, and it could well see your surgery struggling to stay afloat in the future. 

Prioritize patient contact

As mentioned, an automated letter sending system is perhaps the best and most reliable option for reporting test results. You should certainly find that this helps you keep communications open in the case of test results which show nothing worrying.

That said, most healthcare professionals do prefer to speak one-on-one with patients who don’t have such positive news. No patient wants to receive a letter advising them to book an appointment, after all. You can stop this from happening by making sure to take the time to contact these patients in person.

If you’re pushed for time, it might be worth getting your receptionist to call up with a standard message like, ‘we’ve received your test results and are wondering when you could come in for an appointment.’ This shouldn’t send anyone into an unnecessary panic. 

If at all possible, though, you should prioritize contacting patients yourself or getting their primary carer to do so. Setting aside an hour or so a day for this task can make a massive difference to the patient experience. It also shows everyone on your books that you’re willing to go above and beyond for their needs. That’s sure to work in your favor.

There’s no denying that test results can be tricky beasts. Many healthcare professionals would even refer to them as a bee in their bonnets. But, once you develop systems which work here, it’s incredible how much better your entire patient experience will be.

 

Make Your Office Work For You

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If you work from home, and most people do. Either they are freelancing, running a business, or taking work home regularly from the office. What your office looks like and how it functions matters. You want to make sure that you are your most productive in there. So there are some things that you should pay attention to when it comes to making your office work for you.

Light

You want to have as much natural light in the room as possible. Natural light gives us energy and makes us more productive, and that is something you really need to be aiming for in a home office. The time you spend in, there should be focused. So if you have a window that is usually covered, or you often have the curtains closed – it is time to ditch that habit. Of course, for privacy purposes, you might want something. A light voile will do the trick. 

Light Part 2

If you have space, then think about adding some strip LEDs into the room. And swap your yellow or warm-toned bulbs for something that is closer to natural light. 

Walls

The lighter and brighter you can make the walls the better. You are looking at white realistically. It’s cheap and easy to do. But you could go for a dark, moody space if that is what gives you inspiration. If you have a lot of books in your office, then fit some shelves and see your walls as storage. Add some interesting art on there too. Try and take the time to find things that get you in the mood for being creative, inspired, and focus. 

Desk

Your desk should be clear of clutter at all times. If it is messy, stray papers and pen lids might catch your attention. From a productivity perspective, you really want to minimize the number of distractions. It would be beneficial if you had a draw that could store things like notebooks, pens, and files. 

Computer

Your computer doesn’t make you money, but you make money with your computer. So it makes sense for you to really pay attention to it. Once a week, make sure that you that your run all updates and other things on your computer. Next time you sit in your chair, consider if your screen is too high or too low for you. This will cause you to either crane your neck or slouch. Using a monitor mount arm will be you can move the screen around as you need to. 

Green

Green is used in offices all over the world because it is known for its productive vibes. Plus they are great at cleaning the air in your office. So not only are they great to look at, they provide a useful service too. So consider adding a few easy to take care of plants into your office space. 

 

It is often said that the best way to make sure that you are focused in an office is to ensure there is a door or something to separate it from the rest of the house. So when possible make sure you have that capability.

3 Ways To Raise Capital For Your Startup Business

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Most startup businesses require some form of capital to launch. To a degree the saying that ‘you need to spend money to make money’ is correct depending on the industry and scale of business you are hoping to achieve from the offset. Coupled with considering the marketing and sales resources, you’ll need to drive sales. 

The process of launching and running a successful small business can be costly. But before you decide to put your dream of owning a sports leisure center, an electronics retail store or a nightclub on the back burner for another, better, time. You should know that there will never be a perfect time to launch your business, and your financial situation will never feel truly comfortable enough for you to begin your company. And so it’s worth overriding your fear of how you will gain your business finances to look closely at your options so you can set your business plans in motion. In no particular order, here are three options you might want to consider.

Crowdfunding

Presuming you’ve set up your business plan and are clear on how much capital you need to start your business, consider whether your idea is compelling enough to attract multiple small investments in the form of crowdfunding. Take a look at crowdfunding websites such as IndieGoGo, Kickstarter and Rocket Hub to see if you meet the criteria of startup ideas they are looking for. Sourcing crowdfunding is highly competitive, and so you need to have a clear, attractive pitch to display to your fellow crowd funders to convince them to invest. To help you get started, browse other startup projects on crowdfunding sites to see what kind of concepts and marketing approaches seem to be successful in gaining contributions.

Startup Business Loan

As with applying for crowdfunding online, you may need your professional business plan to hand to show potential lenders your well thought out business idea. This shall demonstrate to lenders whether or not your idea is viable, and whether your business has the scope to make a return so that you may pay back the startup business loan in the future. To get started, research banks and loan companies who tailor their services to startup businesses, to find who offers the sum you are looking for with a competitive interest rate attached. Also, pay particular attention to the terms and conditions of each loan to find one that is best suited to your business. Another tip is to never borrow more than you actually need. 

Bootstrap Your Business

If crowdfunding and loans are not for you, an alternative way to launch your business is by bootstrapping. This term refers to starting up your company on whatever savings you currently can afford to invest. Then, when the business grows and yields a return, you use this and put it back into the company. This makes financial sense for those worried about the prospect of lending money. However, depending on the business you are hoping to create it could also stunt your growth, as you need to continuously wait for a profit before you can invest back into the business. 

Other alternative ways for you to make capital for your startup business are security business capital, to spend some time working and saving the amount you need or seeking financial support from family and friends. Alternatively, you can look at other sources of borrowing, such as your overdraft facility and credit card options.

What Can Your Business Do To Improve Cash Flow?

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One of the biggest problems that small businesses face is cash flow. If you don’t get paid on time by a customer or client, for instance, then it can mean late payments to the people that you have to pay, or it can put you out of pocket if you have staff to pay, and so on. So as a small business, having a focus on cash flow is really important as it can solve a lot of problems. So here are some of the main cash flow issues that a small business may face, and some actions that you as management can take to deal with them. It can help in many ways, and get your business on the path to success.

Cut costs

One of the simplest things that you can do to improve cash flow is looking at what costs you can look to reduce or cut completely. All businesses can spot some areas to save, and stop some of the non-essential spending, especially if you are looking hard enough to do so. You may want to move to a smaller office space, for example, as that can be a large overhead costs that can be reduced. You could also look to hire freelancers, rather than full-time staff, because staff are another massive cost to the business.

Rent rather than buy

If you are in business, then you might naturally think that it is worth buying the things that you need. For instance, if you are in a retail business, it could be considered worth buying a warehouse for your inventory, and all of the equipment that goes along with it, whether that be machine haulage or cherry pickers. And if you have enough cash, then it can be a good investment. But if cash flow is a problem, then you need to think about renting instead. The reason being, if you rent, then you only hire and pay for when the equipment is needed. So that can be a really big help for cash flow. 

Reduce the credit period offered to customers

Of course, this is something that is easier said than done. But if you want to improve cash flow, have you considered asking customers to pay for their purchases with a much quicker process? This can be a simple way to accelerate cash flow. Of course, as with anything, there is never any guarantee that customers are going to agree to what you offer. So you could think about offering discounts for early payment, for instance, as a way to encourage people to pay on time. 

Cut stocks

If you want to improve cash flow, then have you looked at reducing the amount of cash that is tied up by things like buying and holding raw materials or goods that you have for resale? This could be anything from ordering in less stock, or by giving discounts on the stock that you have in order to encourage the sale of them to clear them. If these sales are made in cash, then even better to have the money upfront.

3 Reasons Why Knowledge Is Power in Your Professional Life

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We’ve all grown up hearing phrases like “knowledge is power,” and it’s the kind of line that seems to be clearly true on some level. But, it’s not always exactly evident how it’s true, or how it applies and plays out in the different areas of our personal, and especially professional, lives.

In a professional context, there are all sorts of ways you can accumulate “knowledge,” ranging from helpful systems like Acumatica container tracking, to comprehensive market-research plans.

At the end of the day, though, here are a few reasons why knowledge really is power in your professional life.

What gets measured, gets improved

There’s a very well-known saying in the business world, that “what gets measured, gets improved.”

Note that the saying isn’t “if you measure things it’s a bit easier for you to improve them.” The implied benefit seems to happen automatically – improvement comes as a basic side-effect of measurement, in and of itself.

Why could this be? Well, when you start tracking data and analytics of various sorts, it’s very difficult to escape from the awareness of whether you’re performing well and where you’re performing badly. On a subconscious level, you’ll likely be motivated to tighten things up in order to improve your metrics – even if you’re not laying out an explicit and specific action plan to do so.

On top of this, it may simply be that you didn’t really understand where easily correctable mistakes were being made, when you were forging ahead with insufficient data.

Simply measuring things is likely to improve them. And yes, it’s also easier to actively and consciously improve things when you have some data points to work with.

Data points are necessary for incremental “1% improvements”

Improvement is one thing, and it’s certainly possible to make dramatic improvements in your business – and to get a decent sense of whether those improvements are actually working out and taking hold – without micro-tracking various metrics.

But, when it comes to actively striving to make incremental “1%” improvements to your business or professional performance, you’ll likely never really know if you’re on the right track unless you’re watching the right data points and are paying enough attention.

There are reasons why this really matters. For one thing, as the author James Clear points out, many of the most successful “productivity transformations” out there have taken place specifically because of a commitment to small iterative improvements based on the concept of becoming “1% better” every day.

For another thing, it’s a lot easier to identify ways in which you can make things “1% better” in your professional life, day after day, than it is to hit massive performance targets with any regularity.

And, if you can get 1% better every day, you may be more than three times better within a year.

It’s often the people who are quickest to adopt the latest tools, who take the lead

“Innovation” is one of those big buzzwords in business, and not without reason, either.

The Apple Computer company had been around for years, and always played second fiddle to Microsoft, until Steve Jobs rolled out his revolutionary new aesthetic, and game-changing technologies such as the iPod and later iPhone.

It was innovation that skyrocketed the company’s fortunes.

To be innovative, you need to be knowledgeable. You have to have some understanding of the tools and technologies at your disposal, you have to be timely in adopting the newest tools before your competitors do – so that you can take the lead – and you have to understand the processes involved.

Without sufficient knowledge, you may be deeply creative – in theory – but unable to actually bring your vision to reality.

Your Step By Step Guide to Running a Successful Small Business

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Have you been dreaming of setting up your own business and being your own boss? Making the leap from employed to self-employed can be a daunting prospect, as well as incredibly exciting. 

Launching a new small business isn’t all about becoming an overnight success; it is about building something that will stand the test of time. Taking a long term approach and breaking down the individual elements needed to make your business succeed will ensure you take care of everything you need to.

Make a Plan

Making a plan may be the last thing you want to do when you are passionate about getting started and launching your business. However, if you are in it for the long term, it is better to develop a proper business plan, before diving into the unknown. 

Pulling together a business plan doesn’t need to be boring, think of it as planning your first steps on your brand new journey. Having a business plan means that you have a tangible document to refer back to when you need it. At times, you will probably feel uncertain about your business and the direction it takes. Having a business plan means that you can monitor your progress, and reconnect with your goals to keep you on the right track.

Start it Small and Simple

Even if you are launching a business in an industry you are familiar with; it is useful to start small. Being in charge of every aspect of a company will feel entirely different from being employed, so giving yourself time to adjust is essential.

Don’t get started on the wrong foot by overextending your finances to fund your new venture. Instead, be realistic about what you can achieve while familiarizing yourself with your new role as a business owner. Putting extra stress on yourself with a sizable financial burden is going to bring considerable pressure onto both you and your fledgling business.

Take your time to establish your business, before committing to large monthly bills, and you will create a much stronger foundation to build it on.

A mistake that many business owners make is to quit their day job and take on a lease for expensive business premises, and a costly work vehicle. Both of these may feel like a great idea, but you may regret it when you are paying for lots of extra space that you aren’t using. A better solution is to let your business premises and equipment expand in line with your business. This steadier approach enables you to adapt to your business’ current needs without a substantial financial burden weighing you down.

Call in the Professionals

When you run a business, there are various practical elements to consider, and lots of paperwork to sort out too. Having the right level of insurance cover for your business is vital. No one knows what the future holds, so being prepared for anything that life throws at you, can give you some added peace of mind. Business insurance experts such as https://www.krywolt.com/ can help you to determine the right level, and type of insurance cover your small business needs.

Managing the financial side of your business so that you pay the correct taxes and keep track of your business expenditure is a must. Hiring an accountant can help you to keep your business finances in order, and gives you one less thing to worry about. 

Being busy fulfilling customer orders may mean you don’t have time to stay on top of all the admin that comes with being in charge of a company. Trying to juggle everything yourself can leave you feeling incredibly stressed. The problem many businesses face is needing extra help, but not being able to afford it. Using a virtual assistant service means that you get the benefits of someone helping with your workload, without the need to recruit an employee. Typically, virtual assistants are paid by the hour. As they are not your employee, there is no need to worry about extra costs such as holiday pay, or pension contributions.

There are specialist virtual assistants available that can bring expert knowledge to your business, such as marketing, PR, and specific IT skills. Other virtual assistants are admin whizzes that will sort out your inbox, arrange your business travel, and answer the phone for you. 

Outsourcing some aspects of your work to a virtual assistant can help you to free up some time and focus on other parts of your business.

Build a Brand

One thing to bear in mind when launching your company is that you are building a brand. Your brand may not seem like an important consideration at the moment when your business is only just launching. However, now is the perfect time to start working on your brand. Building up brand recognition to create a strong brand identity takes time, so the earlier you get started, the better.

Creating a brand from scratch may seem like a daunting prospect, but it is not as complicated as it sounds. To get started, think about your brand identity, what do you want your business to stand for, and where will you position yourself in the market? Will your products represent good value, or will you be a luxury brand? Think about your unique selling proposition and how you will differentiate your brand from competing brands.

Once you have decided on your brand values and market position, you can begin thinking about the visual elements of your brand, such as your logo. 

Marketing Your Business

Very few new small businesses have a big advertising budget if any budget at all. Don’t worry if you don’t have the spare money for paid for advertising; there are plenty of other ways to get your business noticed.

Regardless of your marketing budget, having a marketing plan is a good idea. Your marketing plan will help you to establish what you need to achieve from your marketing efforts. Make sure that you set SMART goals for marketing objectives. This will give you the opportunity to measure your marketing goals and see what can be improved for the future. Your marketing priorities are likely to change over time, but for the first year of trading are likely to be focused on raising brand awareness.

Don’t forget to check out how your competitor’s market themselves. This will help you to make sure that you differentiate your brand from theirs, and don’t get lost in the crowd.

Online Presence

Think your business is too small to need a website? Think again! All companies nowadays need an online presence. You don’t need to spend thousands on a website, but it does need to be well-designed and professional. Having a website is essential, but having a bad website is worse than no website at all. Many customers make the internet their first port of call when researching a product or service. This means that your website will form their first impression of your company, so you want to get it right. People that research products online are likely also to check out your competitors too, so you will need to make your business stands out for the right reasons. Make sure that the content on your website is relevant, meaningful, and useful for visitors. Your content should be written in a tone of voice which reflects your brand personality. Doing this will ensure that your website accurately reflects your business and what it represents.

Don’t forget to use social media to heighten your online presence. Whether you love social media or hate it, it is a useful tool to connect with people when used in the right way. Using social media to promote your business can be a time-consuming process, so it is best to plan a strategy as part of your marketing plan. Consider who your target market is and then think about which social media platforms they would use the most. As with your website, make sure that the content you post is relevant and useful, and crucially, is written in a tone of voice in keeping with your brand’s personality.

Assess and Refine

Once your business is up and running, you will probably find yourself rushed off your feet, while you are busy establishing yourself. Amid the busyness of the day to day running of your company, it is useful to stop and assess your progress now and then. 

Assessing your business reasonably regularly means that you can refer back to your business plan to see how you are performing against it. This will enable you to make adjustments to the running of your company as and when needed.

Assessing your progress means examining lots of results. This includes feedback from customers, how much money you are making versus running costs, and how much footfall you are receiving. Examining and comparing this combination of data over time should help you to gain a firm understanding of your business, and how you can steer it to even greater success in the future.

Seven Ways To Make Your Online Business Stand Out

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Collaborative post – may contain affiliate links

Many millennials are stepping away from the traditional world of work and choosing to start their own businesses. The internet has made setting up on your own easier than ever, and many young people are successfully running online businesses, selling everything from their own jewelry to coaching sessions for other business hopefuls.

  1. Set up a professional looking website. There are lots of tools online now to help you create a website that looks slick. If you’re new to setting up websites, look at easy to use platforms like Wix, WordPress or Squarespace, and use a template to create your first sites. Make sure it works properly and is easy to navigate. 
  2. Create a business profile on Google. Many people overlook this, but make sure you fill out the profile in full. Add your location, hours and services. Also add relevant photos of your business and projects, as well as links to any recent blog posts. Encourage customers to leave you reviews on Google too. Verify your business with Google My Business to help boost your search rankings. 
  3. Choose packaging that stands out. If you’re shipping out physical products, using packaging that looks good when it arrives will make your business more memorable. Choose poly mailers in the same colors as your branding or in fun patterns.
  4. Embrace video. Video gets a large amount of web traffic, and can really boost your search rankings. YouTube is still one of the main platforms for video, but Facebook also has great options for video too. Upload directly to Facebook to get your videos to perform better on the timeline and get more views. Video content can be used to showcase your products and services, and show off your business. 
  5. Create How To content. How To content tends to perform well on search engines, as it naturally builds in keywords that your customer base are searching for. Content like this solves problems for your customers, building trust. Guides are really shareable, helping them to perform well on social media too. Use your area of expertise to create this content. For example, if you’re a blogger, create guides on SEO tips for other bloggers. If you sell cakes, create videos of tips for creating decorative icing at home.
  6. Get on social media. If you’re not making the most of social media, your business will quickly fall behind. Most of us spend a lot of time online, particularly on social media sites like Facebook and Instagram. Meet your customers where they are by making sure your business is on social, with properly branded social profiles. Use your campaigns to engage your audience, not just talk at them. Encourage conversation, not just advertising. 
  7. Show off good reviews. Customer reviews are a good way to enhance your online presence. Show testimonials on your website and encourage customers to review your business on social media. If you use an online marketplace, take reviews there too. Reviews build trust with potential customers, and help you gather feedback to improve your company.