One thing I’ve noticed over the years is entrepreneurs looking to improve the way they run their businesses tend to look around within their own industry. So if you’re a restaurateur, you’re visiting other dining establishments and chatting with other restaurant owners about their recipes for success (pardon the pun.) It makes sense, of course, but I’ve learned that it’s foolish to stop looking for solutions once you’ve canvassed other people in your industry.
Most small business owners need a good amount of ego to have the courage and commitment to start a company. Without a lot of positive early reinforcement, they need to have the confidence that comes with a strong ego to succeed. However, as the company grows, this oversized ego can also get in the way and ultimately hurt the company. Here the symptoms and what should be done to remedy the situation:
Business owners face dozens of decisions every day; one of the most important is choosing the right communication tool.
That’s where cloud communications come in. More businesses than ever before are moving to the cloud thanks to ease of use, reliability, agility to accept calls anywhere/on all devices, and cost savings.
The problem? Entrepreneurs often don’t know which provider to choose. To help with the decision-making process, market research firm Frost & Sullivan recently published a whitepaper titled Top 10 Factors to Consider When Selecting a Cloud Communications Provider.
I want to see bucketfuls of cash at the end of running my business…how about you?
You may be so busy with your business not be thinking about its long-term future, but what is your end goal with your business? Do you have an exit strategy? Having an idea for what will happen in your business in the future is just as important as your business plan, marketing campaign, and balance sheet. An exit strategy doesn't mean your business dies or goes away. In fact, you want the exact opposite. You just need a plan to scale your business to get yourself into the best possible scenario to put your business up for sale one day.
How do you set up a profitable exit strategy? Let's walk through it step by step.
For most families, the month of July is filled with days spent at the pool, family vacations, frozen treats, and eventually, every parent’s favorite time of year… back-to-school prep! The end of July is an especially exciting time for most parents as they prepare their children to ditch the “summer break” mentality and head back to seven-hour school days for the next ten months. However, as exciting a time it may be, it is also an extremely expensive time of year. In fact, parents spend about $700 on average for a single child’s back-to-school clothing, supplies, and activities– an expense that unfortunately, many families simply cannot afford.
You can have the most brilliant products with the slickest marketing, but if you’re selling flip flops during a snowstorm, you’re destined for failure. Not only does timing matter because it can make or break your sales, but it also matters when you consider all the effort and money invested in new product or service rollouts. Want to waste your time and money? Launch at the wrong time!
But as important as timing is, it’s also difficult. But don’t lose heart! There are strategies for improving your timing.
No matter what industry you’re in, online reviews are becoming more and more important to business success. The power of customers’ unvarnished opinions means your customer experience has the potential to make or break your business.
A quick scan of the average business’s online reviews will show that it’s not all about—or even mostly about—the product or service your company provides. It’s really about the customer service. The most delicious restaurant meal won’t get a five-star rating if it’s served by an inattentive waiter. Your product won’t get a great review if customers can never get a live person on the phone when they need help setting it up.
