Archive for the ‘Work Your Biz Wednesday’ Category


5 Tips To Building a Successful Team for Your Small Business

??????????????????????As a solopreneur, you can only do so much. But as your business grows, you’ll need to expand your staff. Finding and hiring the right people will help your company become more successful faster. Here we look at five tips that will not only help you find quality talent but also nurture them so they feel vested in your company and want to help it thrive.

1. Know What You Need

Pinpoint exactly the skillsets you need to fill to round out your team.  Each person should have a slightly different background and experience so that they complement one another. But really drill down into your needs. Do you need to hire someone who has skills in social media? What specific social sites do you need help with? The more you know about your needs, the better fit your hire will be.

Also consider what types of employees you need. Not every addition to your team needs to be a full-time staff member. You can hire part-time, intern, or freelancer if your needs in one area are less than full-time.

2. Look to Your Network

Before you hit the job boards to find your next employees, ask your network for referrals. They’re cheaper to hire, faster to get on board, and have a retention rate of 46% after being at a company a year. Ask your colleagues, friends, employees, family, and business contacts if they know of talent that would be a good fit for your company.

3. Set Up Your Onboarding Process

The more training materials and processes you have set up, the faster a new hire will feel acclimated to your company and start being a productive member of your team. Have general training materials for your company, as well as those specific to the role you’re hiring for.

If you plan to work with a freelancer or agency, give them access to all the documents, login info, and details they need to be successful at helping you.

4. Foster Team Activities

Hiring one person is a small success. Integrating them into your team is another. Make sure your team is apprised throughout the hiring process so they feel vested and connected to this new addition. Encourage communication among team members, and consider setting up a team-building activity, like attending an event together or even having dinner after work.

Even if you as the business owner aren’t involved in the day-to-day with your team, you want to leave them to be able to build and foster their own relationships with one another.

5. Check Back In Often

A month after you’ve hired a new team member, check back to see how she’s doing. Get open feedback from her, and do your best to remove any obstacles she might be experiencing that keep her from being 100% productive.

Once you’ve done this successfully, make it your road map for future additions to your team.


How to Develop an Email Lead Nurturing Program

??????????????????????????????????????One of the biggest obstacles I’ve seen for small business owners is closing the sale. Now, I understand that we’re not all born salespeople, but even if you despise sales, you can’t get away from them if you run your own business. It’s just a matter of sorting through the leads you take in and nurturing them until they’re ready to buy. Email is a wonderful tool to help you do just that.

First, What Does Your Email Marketing Strategy Look Like?

If your answer to this question is “it’s nonexistent,” go back to square one and get started. You’d be amazed how quickly you can grow your email contact list simply by offering something of value, like a free report, whitepaper, or discount in exchange for web visitors’ email addresses.

But if you do have a way for people to join your list, what do you do with them once they’re there? Do you regularly send out email newsletters or promotions? If not, that’s where we’ll start.

Next, Segment Your Contacts

Understand that not everyone that signs up for your email list is in the same place in the buying cycle. Some people may simply be doing research to see what options are out there to solve their problems. Others may be specifically seeing what your brand offers and considering it against the competition. Still others may be ready to pull the trigger.

The more you can divide your email list into a few categories, the better you can target the content you deliver each group. And people who receive targeted content rather than across-the-board generic drivel are more likely to buy from you!

Once you’ve created a few “buckets” to separate your subscribers, write out a description of each person. It might look like this:

Problem Pete is looking for a solution to his problem: he needs a way to organize his photos online. He’s signed up for our free “10 Ways to Use Your Images Online” whitepaper, and now he’s more educated on the online photo storage space. Our emails to Pete need to address the benefits of using our service over the competition, as well as deliver additional educational content.

Having a buyer persona like this can help you build a strategy in the kinds of emails you send each segment. Knowing that Problem Pete is probably at the beginning of his solution-seeking journey means you can ply him with informative content that will not only educate him on your industry but also nudge him toward choosing your services.

Then, Build Out Your Content Strategy

Using the info you learned in building the buyer personas, you’ll now want to create an email marketing strategy for each segment and then build a content calendar around that strategy. Here’s an example:

  • Initial signup: automatically send the free report
  • Follow-up a week later: send our Top 10 blog post
  • Three days later: offer 20% off
  • If contact doesn’t use that offer, one week later, send personalized note from CEO

Each email, as you can see, delivers a different value, and there are enough of them coming at a steady cadence that your new subscribers can’t help but remember who your brand is.

You can schedule each of these as an autoresponder to automatically go out on the schedule you determine. Most email marketing software programs will do this for you (though if you use a free plan, you may have to upgrade).

Pay Attention to Results

Once you’ve got these autoresponders set up, don’t forget about them. Check in to measure your clickthrough rate (that’s what percent of your subscribers clicked links in the email to get to your site), your bounce rate (how many email addresses were incorrect or otherwise failed to get your emails), and your conversion rate (how many subscribers actually bought from you as a result of each email). Make changes as necessary to ensure your email lead efforts are fruitful.


Are You Getting Everything You Should Be Out of Google Apps?

If you’re like many small businesses, you might be using Gmail for your company email addresses. Or maybe you rely on Google Calendar to alert you about meetings and events from any mobile device. But those are just the tip of the iceberg for Google Apps. There are tons more features that help you collaborate with your team, work away from your desktop, and hold more productive meetings, both in person and virtual.

Build a Smarter Team

The great thing about Google products is they work so well together, as well as individually, especially for teams. While I’ve written about the best apps small business owners need to thrive, I’d be remiss if I didn’t mention Google Drive. When you’re collaborating on documents, sharing them in the cloud makes it easy for multiple people to access the documents and make their changes, without all that crossover of emails with different versions of that doc.You can create word processing documents, spreadsheets, forms, and presentations, and share them with anyone you want to have access to them.

And if your team isn’t in the office with you, Google Hangouts makes meetings easier. Up to 15 people can be on a call, and there are apps for mobile devices, so you’re not tethered to your desktop.

Google Calendar, too, is ideal when trying to schedule meetings for your team. You can share access of your calendar or see availability on others’ calendars, then send invites to your team. You can even include a video call in the invite (on Hangouts, of course!).

Taking it on the Go

There are compelling reasons for Google lovers to choose Android phones over Apple. They’re much more intuitive when it comes to using Google Apps, and many (like the Samsung S5) come standard with all of the apps built in. Sign in once and get access to your Hangouts, email, Drive, and calendar.

It’s the Little Things

Beyond these tools, there are plenty more. Like Google Vault, which helps you archive email and chats, making audits and legal research easy. Or Google Sites, a free tool with simple website templates. Groups let you channel your conversations into one place online, and Translate helps you understand foreign text.

Integrate What You’re Already Using

A little-known feature of Google Apps is its Marketplace (I myself didn’t even know about it until I did some digging). The apps here are from software and programs you’re likely already using, like CRM, workflow, and email marketing. Enabling your accounts to work within Google Apps streamlines the activity between the two.

For example, the Nimble app in the Marketplace gives Nimble users more functionality. It allows you to import contacts from your social stream with one click; link emails, tweets, tasks, and events to a profile; and allow your team to log into Nimble using their Google account.

You might even discover new tools, like the HelloFax app, which lets you fax documents from your Drive. Or QuoteRoller, which helps you build out quotes and proposals.

All This…at What Cost?

If you signed up for Google in 2012 or earlier, you’ve been grandfathered in to free services. But at only $50 a year (or $120 with unlimited storage and Vault), it remains an affordable option for any small business looking for easy productivity tools.

We’ve come to rely heavily on Google, and for good reason: the brand keeps providing useful tools that help us do more with our businesses.

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Understanding When It’s Time to Develop a Board for Your Small Business

?????????????????????????????????????As your business grows, you may seek additional input and support from others outside of your company. If you’ve reached that point, it might be beneficial for you to consider starting a Board. Whether it’s an Advisory Board or a Board of Directors, having the experience and insight of a well-rounded group of individuals can help you take your small business to heights you couldn’t have realized on your own.

The Difference Between the Two

There are two kinds of Boards you can consider developing: an Advisory Board or a Board of Directors. An Advisory Board includes a panel of people that have experience that can help guide you to making decisions for your company. A Board of Directors takes that one step further and has the power to vote on those decisions. If you incorporate your business, you’re required to have a Board of Directors, though you may not hold more than the required number of meetings. If you have shareholders you’ll also need a Board of Directors, as they’re the body that act in the interest of the shareholders.

How to Cultivate a Fabulous Board

Whichever type of Board you want to develop, here are a few ground rules to get started.

Start by determining what you hope to achieve with your Board. We’ve already covered the situations where you’re required to set up a Board of Directors, but if you want an Advisory Board (and you can certainly have both), you need a purpose and direction. Maybe you want to take your private company public, and want the right people on your team to guide you to success. Or maybe you want to enter a new industry that you know little about. Having experts in that field on your Board can help you navigate that transition.

Next, get the right people on board. (Pun. Get it?) Aim to find people with experience different than the rest of your Advisory Board or Board of Directors so you have a balanced panel. For example, you might invite one accountant to help with the financial side, one industry expert, a marketer, and a strategist. If you can find a well-known industry leader willing to participate, that’ll be great PR for your company.

You want to set expectations early so that potential members know what’s expected of them. How often will you meet? Will they be required to participate in email or phone call conversations between in-person meetings?

Then, set compensation. Board members are often shareholders, so they get compensated partially or completely in stock. For Advisory Board members, you might only pay for meals in meetings, or you might offer a stipend for their time. Remember: they are giving you some of their valuable time, so consider a fair and appealing compensation plan.

Developing Relationships Over Time

You may only meet with your Board once a quarter or once a year, so make sure to maintain communications throughout the year so they feel in touch with your business. Send a monthly newsletter updating them on what’s happening at your company. Check in with a phone call or coffee date occasionally. Ask if there’s anything you can do to help them. It’s important to make this a reciprocal relationship so they want to stay on your Board for years to come.


Everything That’s Wrong With Your Company’s Plan (and How to Fix It)

Stocksy_txp9b06d560GD8000_Small_276711Wondering why your business revenue is going in the wrong direction? It all goes back to that foundation you first created for your company — or sometimes didn’t create — and how solid it was front the start. Everything since then should be built on top of that foundation, that plan. Without a strong and clear strategic plan, your business may flounder, and you may make a lot of costly mistakes along the way.

The following are some of the most common problems I’ve seen business owners have with regards to their business plan.

1. It’s Nonexistent

Maybe you never slowed down enough to actually write a business plan for the strategic growth of your company in its early days.  Perhaps that’s because you didn’t think you needed one, were overwhelmed at the idea of writing one, or didn’t know where to begin.

How to Fix It: Better late than never. Start today with a fresh business plan or strategic plan on where your company is and where you want to take it. Start with free software such as www.enloop.com

2. It’s Ginormous (and Therefore Useless)

Back in business school, you were taught that business plans had to be thick tomes, 40 pages plus. They needed to be all-inclusive and leave no stone unturned. Fortunately, that rarely applies to small businesses (unless perhaps you are seeking funding from investors), and what you’ve got is overkill. It’s so overwhelming, you never actually take it out to review it. So what’s the point of having it if you don’t use it?

How to Fix It: Try a simpler plan. You may be the only person who ever reads your strategic plan, and that’s okay. But you want it to be readable and comprehensible, and that starts with simplicity. Stick to the basics, and don’t strive for length. Just get to the point.

3. You Never Look at It

Maybe you developed a fantastic business plan…5 years ago. Likely a few things have changed since then. A plan should be a living, working document that you regularly review (try for 2-4 times a year) and modify as needed.

How to Fix It: Blow the dust off that thing and take a look at what you’ve got. Probably the structure can stay the same, but if you’ve pivoted in your product offerings or otherwise changed company goals, those need to be reflected in the business plan.

4. It’s Not Actionable

Maybe you stuffed your plan with $10 words and filled it with fluff. You read it and don’t have a clue about what to do next.

How to Fix It: Amend that plan with action items. If you established a goal of becoming a $1 million company, set up steps for how you can make that a reality. These need to be achievable and measurable steps so that the next time you review your strategic plan you can actually see how far (or not) you’ve come toward achieving those goals.

Having a manageable and updated business plan or strategic plan is what keeps your business on track toward achieving those goals you’ve set for yourself. So keep it simple, keep it updated, and keep it nearby so you can refer to it regularly.


How You Can Grow Your Small Business to 7 Figures

Stocksy_txp1c8dcf91CD8000_Small_201077So many entrepreneurs I meet think too small. They’re concerned about paying today’s bills, and give little thought to where they’d like to take their business down the road. That’s an obstacle to success, but one that can be overcome with a little planning and strategy. But the most important thing to making more money is to believe that you can. So let’s get started! It’s time to stop struggling and start thriving in your business.

First, Visualize What You Want to Achieve?

Don’t be afraid to unleash your imagination here. Think big! Would you like to run a $5 million company? Sell it in five years and then retire and travel the world? You can’t hope to grow to any level of success if you don’t first establish what your goals are.

Write these goals down and develop a vision board. No matter how pie-in-the-sky they seem at first, if you think it, it can happen. It’s not your job to judge your desires, just to record them. Seeing these goals on paper or a poster will help you get the right mindset to start believing in those goals.

Next, Figure Out How to Get There

You wouldn’t leave for a major road trip without a map. It’s the same as a business owner. You need a plan for how you’ll get to the destination (those goals you set). It may be overwhelming right now to consider becoming a $5 million company, but if you break that goal down into smaller ones, you’ll actually be able to achieve them.

Maybe the first step is to hire a salesperson or expand the area you service. These are small and simple tasks. Continue your list of action items that will help you reach your goal, and assign timeframes to them. You could even list tasks to complete each quarter to lead you to your goal.

Find One Thing You Do Really Well

This might be a superior product. Or your insanely fast delivery time. Whatever that characteristic that makes you different (and better) than the competition, own it. And use it in your marketing material. You want people to know what makes your company unique from the second they discover you.

Hire the Right People

Few solopreneurs are able to reach that 7-figure goal without a little help. And there’s no shame in hiring people who are smarter than you! Find professionals who can complement your skill set with other qualities, and hire help to fill in the gaps with those tasks you simply don’t have the bandwidth to do yourself.

Another note on hiring: it’s important that you create a company culture that makes all your staff — whether they’re full-time or freelance — feel like part of something bigger than themselves. They’re going to be key in helping you hit those 7-figures, so make sure your company is inviting and that they want to work hard for you for years to come.

Refine Your Sales Process

The smoother your sales process is — and any other process in your company, for that matter — the more sales you can make. Automate what you can, from letting people easily make purchases online or sending an email after a purchase, and put personal attention where needed. This is where having sales staff can make a huge difference. You want every single customer to feel like he has the support and access he needs should he have questions or want help.

Lather, Rinse, Repeat

Success doesn’t happen when you keep doing the same thing over and over. It happens when you pay attention to what’s working and do more of it, and cull what’s not working. Be constantly diligent to ensure that you’re firing on all cylinders and moving closer to that 7-figure goal.


4 Tips for Building Your Network Before You Start Your Business

Many would-be entrepreneurs think they’ve got to wait until they start a business to begin building a network of contacts and potential customers. Not so. 90 percent of all small business owners get business from referrals, so the sooner you start — both online and off — the sooner you can forge connections with people that will help you create a sustainable business. You also want to position yourself as a resource so that you can make connections that are meaningful. So don’t wait to start networking! Get started today.

Tip 1: Find Your Industry Peers Locally

?????????????????????????????????Depending on how large a city you live in, there may be networking or support groups for businesses in your industry. If that’s the case, begin your networking efforts there immediately. Join professional organizations or simply attend a few meetings so you can get to know the big (and small) players in the space where you want to do business.

How this will help you: Networking in person helps you assess what types of businesses you’ll be competing against, as well as provide ideas for how you can better serve your target audience. You can look for strategic partnerships. If you plan to only offer Service A, you can find others who offer Services B, C, and D, and by working together, you can reach more customers. And finally, you can find a mentor who can provide you with guidance through your journey into entrepreneurship.

Tip 2: Start Getting Social Online

Social media provides you with the fabulous opportunity to brand yourself and your soon-to-be business. You can create profiles for yourself now and start sharing content that will make you known in your field, before you even have a website for your company. Start by following people that fit the mold for the types of customers you’ll want for your business, and you’ll have an instant audience when you do launch.

How this will help you: Once you start your business, you’ll need an audience for your content. Social media is the ticket to getting more readers for your blog posts — and thereby more customers on your site. And being known as a thought leader will also net you plenty of followers.

Tip 3: Attend Conferences

Another spot rife with networking opportunity is industry conferences or local business events and workshops. Wherever people in your industry — or for that matter, your ideal customers — gather, you want to be there too. Collect business cards. Run your idea by people. Just get your name out there.

How this will help you: Not only do conferences provide great learning opportunities, but you can observe your competition closely. You can also bounce your business idea off of other people to see if it’s even got viability. You may find you need to tweak your strategy before you launch — by getting feedback from others now, you save the time and money of not launching a bad idea.

Tip 4: Join LinkedIn Groups

An even more specific social networking strategy, especially useful if you’re relatively new to an industry or owning a business, is to participate in LinkedIn groups that cater to that niche. Just like with other types of networking, LinkedIn provides access to smart folks who can give you ideas for your business, as well as let you get feedback from them before you start yours.

How this will help you: There’s plenty to learn from others, if you’re open to it. Read the articles and discussions, jump in where appropriate, and take plenty of notes. You’ll need them for your business.

Networking opportunities are abound, if you know where to look. It’s better to start your relationship-building now while you’ve got the time, because once you launch that business, you’re going to be really busy!


Good, Better, Best: How to Be the Best Leader for Your Small Business

Stocksy_txp4741dc94fC8000_Small_17003Like it or not, as a small business owner, one of your primary roles (if you’ve got employees, that is), is that of leader. If you haven’t had a lot of experience in the past in leading people, you might need a few pointers for polishing your skills. Not to worry: even if you’re not a born leader, it’s something you can improve with a bit of effort and education. And don’t be afraid to sign up for a leadership course.

The Qualities of a Great Leader

While everyone’s got their own opinion about what makes for killer leadership skills, most can’t argue that the following are qualities that can help you manage others with grace:

  • Solid listening & communication skills
  • Striving to help employees succeed
  • Empowering employees to make decisions
  • Striving for self-improvement
  • Learning from mistakes

How many of these qualities do you possess? If you need a brush-up, here are tips for expanding your abilities on each point:

  • Listening & Communication: Let your employees speak without you interrupting them. Pause before responding, and really consider what they’ve said.
  • Help Employees Succeed: If an employee comes to you with a problem, don’t just listen; act. Show him that you keep your word by making change to help him overcome his obstacle.
  • Empower Employees: Show your staff that you trust them to make decisions without your constant approval. They’ll blossom if you let them.
  • Self-Improvement: Realize that good leaders never assume they’ve reached the top, and keep striving to better their skills.
  • Learn from Mistakes: Just like anyone, you’re fallible, so rather than try to deny your errors, take them as valuable lessons.

Why You Should Strive to Be a Great Leader

Do you really need to improve your leadership skills? If you care about keeping your staff happy (and at your company), you should care. As Eric Jackson quotes the old saying in this Forbes article, people quit their bosses, not their jobs. Do you really want to be the reason you keep losing good talent?

Your staff looks to you for guidance on how to conduct themselves, as well as how your company is run. A good leader inspires her staff, not makes them cower under their desks.

Owning Your Leadership Style

If you’ve been to business school or any kind of leadership training, you might be familiar with Lewin’s Three Leadership Styles. These date back to 1939, and while others have been identified since then, these styles of leadership still ring true today:

  • Autocratic: You make decisions on your own without the input of your team, and your word is law. You’re not open to suggestions from your staff, which may make them fearful of you, and may cause employees to be difficult to motivate or keep on board.
  • Democratic: You involve staff members in key decisions, though you still have the final word. Employees feel more vested in the company when they are encouraged by you to provide input.
  • Laissez-faire: This style of leadership isn’t always effective. You put the responsibility of decision-making in the hands of your employees, which may cause your team to feel confused and without strong guidance, since that’s not a laissez-faire leader’s strong suit.

Each of these leadership types (as well as others) has its benefits and drawbacks. The key is understanding which comes naturally to you, as well as which your staff responds best to. For example, if you identify with the autocratic style, but your staff seems afraid to come to you with ideas or issues, try on the democratic hat for a week or two and see if results change. It’s better to align yourself with your staff’s needs than stick to what’s easiest for you.

The better the leader you are, the happier your employees will be. And a small business with happy employees makes for a successful company.


5 Ways to Make Money Through Text Messaging for Your Small Business

???????????????????????????????It’s nearly impossible to go anywhere without seeing people using their smartphones to text, talk, use apps, or surf the web. More than 90 percent of the U.S. population has mobile phones, and those individuals spend 19 hours per day with the device at arm’s length (some even more!). If you’re not using text messaging as part of your marketing and business development plan, you’re missing out on serious opportunity to connect with your customers and increase sales.

Text messages are one of the most-read methods of communication, with a 97 percent open rate (that’s much higher than the average email gets). And 85 percent of text messages are read within 15 minutes of receipt. This is a boon if you’re trying to get people’s attention right now. Here’s a look at how you can leverage text messages to make money for your small business.

  1. Get permission first.  You must make sure that your customers want to hear from you via text message, or you’ll risk suffering a huge backlash and potentially losing customers.
  2. Use text messaging as a relationship building tool. Like with any type of business development venture, don’t immediately start using a text messaging strategy to sell products and services. Instead texting should first be a way to build relationships with current customers and prospects. Send out useful information that customers will want, such as appointment reminders or coupons. Just remember not to send text messages too frequently or you’ll risk irritating people.
  3. Use text messaging to support existing marketing and sales efforts. One of the best ways to use text messaging is to present special offers, which lead customers to buy in the store or online. For example, if your business has a sale on a Monday, a text message can be sent Sunday afternoon to remind customers about this opportunity to shop and save.​​Starbucks will often send out text messages to customers reminding them to use their “treat receipt” (morning coffee receipt) to buy an afternoon drink at a discounted price. The “treat receipt” is an existing sales strategy, and adding the text messaging component helps to encourage customers to come back for a second purchase on the same day.
  4. Develop exclusive mobile content. You want customers to pay attention to the text messages you send. As such, don’t simply promote the same discounts and offers you send in email and your website. Create specific offers such as a 20 percent discount using a text message code. This will train the buyer not to ignore your texts.
  5. Find the right service provider. This is an important step in order to deploy a text messaging strategy for your business. There are text messaging platforms available for iPhones and Android devices that allow geo-tracking, which shows the geographic location of the mobile device holder. This is important if you plan to send text offers to customers who are near your business.

A text messaging strategy is a critical part of business development and marketing in today’s multi-channel marketing world. Remember to use texting to form relationships before going straight for the sale, and think about a strategy before sending your first message. 




 
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