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Small Business Ideas

Small Businesses: Holiday Prep

6/29/2019

 
Here's a quick checklist for small businesses in advance of any holiday: 
  • Decorate your business for the holiday
  • Clearly advertise your holiday operating hours at your store and on your website
  • Stock up on products and supplies
  • Create holiday sales pricing for products that are not moving well
  • Staff up if open on the holidays as more people are off and may come your way
  • Take time to prep for higher traffic volumes - straighten shelves, move inventory to the floor, and find other ways to prepare for busier times ahead
  • Make displays of products that may be used during the holidays - e.g. cooking utensils, decorations, fun things, and consider craft and hobby items as people have more time to indulge

Thinking in advance can help you take advantage of the holidays, increase your sales volume, and have a more enjoyable experience as you help your customers. 

Small Business: What Type of Web Page?

6/23/2019

 
If you are considering starting a small business the type of web page you should consider for your business can be a simple decision. Consider that your small business must have a web page. Why? Can you find your phone book right now? If you are going to try and find a business, more than likely, (over 85%), you are going to your smartphone, tablet or computer to find a business.

Here are some basic web page styles you should consider creating for your business: 
  • Static - Static web pages are just that - they are lacking in movement or changing information. Most often, consulting, service industries with no online purchasing options do best with a static web page. This doesn't mean you can launch a website and forget it. It does need monthly or quarterly maintenance, but the changes will be relatively minor. 
  • Dynamic - Maybe you are a motivational speaker, interior designer, or provide some service to your customers. Dynamic websites not only provide the customer with the information they need to know about how you can help them, they provide examples of your work whether video or photo's. They also "teach" the customer about what it is you do. You provide them with information through a blog or FAQ that will help them. This draws people to your website. By being dynamic, adding and updating content frequently, you can reach more potential customers. 
  • E-Commerce - If you plan to offer products for sale via the Internet, then you need an e-commerce site. You must have product pages, providing information about your products, and then create a sales portal for them to purchase, enter shipping information, etc. E-commerce sites are a great way to expand your customer base as you can reach those beyond your geographic location. With any e-commerce site you need to incorporate all the tools for completing financial transactions and shipping. 

All websites MUST!!!!!! No matter which website style you choose, you should include the following in your website creation: 
  1. Ensure that your website will load properly on tablets, and smartphones. Consider reducing the size of pictures, leave out the flashy intro videos so your pages load quickly on any device. 
  2. Keep the overall design simple. Most people are going to visit your page for only a few minutes. They will look at the web content for a minute or two to see if you have what they need or want. Flashy, or gaudy web page designs often distract from your message. Sites that are "busy" can be confusing for many so they move on to the next business. They are going to look for contact information and you address if you offer services or products at your location. Often a good rule of thumb is to create a basic, simple landing or home page, then you can link to photo galleries, and other video content from that page. Include a few pics of your products or pics of you in action if you are a consultant, but keep them small to ensure quick loading. 
  3. Your web page content must be focused on what you can do for your customer. In other words, "Why would I, as the customer, want to do business with you?" How can you help me, what is it you can do for me. It's all about me, the customer!!!!! Tell me, from my perspective, how you are going to enrich my life, or make it easier for me. 
  4. Don't rely on your website alone for advertising. Today's major search engines use various algorithms that take into account the users location, home address, previous search results. This makes it difficult to increase your search rankings so you need a marketing campaign. Word-of-mouth advertising, putting your web address on printed materials, and even local ads on television or radio depending on your business. Online advertising through the major search engines is another way to focus on your customer base, reaching those that are looking for your services. 

Create a website for your small business that suits your business type. Change it up as your business needs change. Give thought and then care-and-feeding once your website is started to increase your chances to increase sales. 



Small Business: Look to the Future, Prepare Today

6/10/2019

 
Whether you are just starting out or have been in business for a year or two it is important to look to the future, imagine what your business will look like in a few years. Will it have grown, have added products and services? 

There are a lot of opportunities for you to prepare your business today to meet future growth. 

1. Educate yourself - Whether you are a service or product based business, now is the time to begin learning more about how to operate your business, and new innovations in your product or service line. Adding skills to your personal business inventory will prepare you to grow your business. Consider other areas of your business such as accounting practices, supervision/management, marketing, or learning new skills to make you more productive and efficient. 

2. Look for opportunities to upgrade - Do you have a production machine that is nearing it's productive life cycle, or have business technologies that are nearing the time for replacement? Consider an upgrade that will help you improve your business rather than replacing with the same equipment/technology. Having the infrastructure already in place will help you meet business growth with little effort. 

3. Build capital - When you start seeing profits, put some away for a rainy day and for when you are ready to expand your business. We call these funds our "Fall Back, Fall Forward" money. Having the necessary capital without having to borrow is a safer, not to mention a less stressful way to invest in your business. Building capital, business savings, will help you in so many ways. Also, investing in your business before you grow can provide some interesting economics for your business. Consider taking on new product lines without having a large upfront investment because you already prepared for it. 

4. Be mindful of "pop-up" opportunities - Depending on your business, there may be opportunities that just materialize. Maybe a competing consulting service is going out of business, or a local retail competitor. This may the opportunity your business needs to grow. Some call it environmental scanning. Take a few hours to scan your business environment to identify opportunities, and of course risks so you can plan accordingly. You might be able to take on clients from failed or closing businesses, or buy up supplies from a competitor to help you grow your product line. 

Overall, practice, "Think Now for Tomorrow" - As you navigate the business world, thinking about what you are doing today, as compared to what you will need to do tomorrow, will allow you to make strategic planning decisions. 

For example: One of our clients who had been in business for about a year ask us to review their existing technology and business infrastructure to determine what it would look like when their business expanded. We provided a picture of what it would look like. As service contracts expired, they upgraded, they invested more in their marketing, and technology. We assisted in developing company policies, mapping key processes, employee training programs, and procedures that would accommodate growth. Eighteen months later their business did grow exponentially and they were prepared. One employee that had been with the company since the beginning commented, "It's really hard to remember what it was like the first year we started because we always new it would be like it is today."

We think the key to their growth was their vision that they would in fact grow their business even when they were small. They never considered they would not. Keeping your vision on the future while keeping an eye on what you can do today to prepare is a great way to grow. 

Small Business Office Operations

6/9/2019

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It doesn’t matter what type of small business you have, there are office tasks you have to complete to operate successfully. In this article we are going to discuss some key operations that you need to have in place to make your business run effectively, efficiently, and, most importantly, economically. We call this the three “E’s” to successful small businesses.

Financial Tracking
Method for tracking your business expenses and income. Maybe you are starting with only a few customers and keeping handwritten or developing your own spreadsheet seems sufficient. In time, as business grows, and your memory fades, you need to have a method to easily track your finances. Plan for business growth at the start with a method, or program that will meet future growth needs. Accurate financial records are needed for the dreaded tax season and to ensure you are being profitable. Several programs are available that are  free and those you pay for, that will help you track your expenses.

  • Side note: Wave is a great, simple to use platform that you start with free of charge. Later, as your business grows and you feel a need, you can add services, at a cost, to handle payroll, or advanced billing processes, or like us and some of our clients, you can use for several years free of charge to include credit card payment processing services less the normal credit card service fees. (No, we don’t get any promotional considerations or payment from Wave. There are several other similar types services available)

Technology
Again, no matter the business you need the appropriate technology to operate your business. Technology includes devices such as smartphones, tablets, computers, or technology specific to your business offerings. The list goes on and on and greatly expands depending on the business you have. It is critical that you budget for a technology refresh throughout the life of your business. As technology advances occur rapidly, you need to refresh your technology on a regular recurring basis, often every 3-4 years. Refreshing your technology improves efficiency. Reduced time waiting on slow computers, or having to develop work-around's where technology outpaces your existing devices.

Internet Presence & Management
In this category we include email, web pages, and even social media if you are so inclined. Having a business web page and social media presence increases your reach to customers. Those that do business with you on a regular basis, and potential new customers often look online for contact information, to learn more about your business. Forget the idea that having a web page will increase your business overnight. From our experience, word-of-mouth advertising, then being easily found on the web is what builds your business. Chances are you will need business email to send invoices, communicate with customers, and to receive information about your business.

Suppliers
In any small business you will have suppliers that provide services and products to keep your business going. Develop relationships, shop around for suppliers that can provide you with discounts. If you are a consultant that travels, consider using the same motels to get preferred status as well as business travel discounts, and ease of tracking travel expenses. Don’t be afraid to ask for discounts in the beginning or if you have been a long time customer. Reducing your supply costs increases your profit margin.

Filing/Work Systems
Hard copy and electronic files need to be handled in a consistent manner to increase your efficiency, reducing time to locate what you need when you need it. Take time to develop a logical filing system, one that is not overly complicated. Include email filing as well. (See article on Email Organization) Include working methods that improve your effectiveness in accomplishing office tasks. Schedule time each day or a few times a week to focus on the filing and work systems to keep your business operating smoothly.

All of these ideas, or considerations, will help you operate your business effectively, and efficiently, which equals working more economically, saving you time and money. Set a reminder on your calendar every six months, maybe with a link to this article, to review each area presented and see where you can improve.






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Small Business: When do I need a website?

4/1/2019

 
You have decided that you are going to start your own small business. It's an exciting time and there is a lot to do. One of the critical "To-Do's" that should be on your list is your website and office technology needs. Why?

First, understand that your website is only a small part of your company's technology needs. Your email addresses, color schemes, logo and back office functions are interconnected to your company's web page. The minute you decide you are going to launch your own business is the day you need to begin creating and implementing your company technology needs.

​Must haves from day one: 
  • Company email addresses - email addresses that use the company email web address are a must (ex. Jane@mybusiness.com) It looks professional, and will help you keep all of your company communications organized. No switching between email accounts. Also, consider that it is difficult for many people to switch to a new email address. Email programs remember the last used email address and will often revert to the one you used. 
  • Office functions - having your email, document storage, forms, and other functions that use technology need to be in place as you begin your business. This keeps your organized as well as motivated!
  • Branding - critical to any business is branding. Branding let's your customers know they are doing business with you. Pick your color schemes, design your logo as soon as possible in the start-up process and begin using them right away. This starts the process of building brand recognition among your customers and others you will do business with. 

Second, avoid these: 
  • "Under Construction" - Nothing more disappointing than completing a web search only to find an empty web page. Cute graphics saying your business is coming soon are no consolation.  You know what your business is, and going to be, say it through a company website. You can withhold payment and ordering methods while you get your business started. Having your web site in place with as much information as possible also helps the search engines to begin learning about your business, making searching easier for customers in the future. Work with your technology provider to hold specific pages not ready for customer viewing until you launch the business. 
  • "Free websites" - Avoid creating a website using free website construction options that are branded with their logo. These may signal to customers that you are not serious about your business. Start with a clean, professional website. It is the window in to your business and many of your customers will visit your site prior to coming in or giving you a call. 
  • Inconsistency - We always talk about how important consistency is in many areas of operating a small business. It's important as your customers want a positive, and consistent experience. So begin early in the business development phase with your company messaging, branding, and reflect it all in your website, email addresses, and company communications. 

Again, think of your company website as only one small part of your business technology. It should tie in to your email, forms, and other communications related to your business. Starting it early in the business development and launch process will pay you dividends in the long run. Profit in your pocket!!!
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950 Eagles Landing Pkwy, Suite 422
​Stockbridge, GA 30281
Photos used under Creative Commons from MEDION Pressestelle, HDValentin, The Marmot, SteveNakatani
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