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Companies are utilizing call centers for sales and seeing much success with it. To be a successful call center salesperson, you must evaluate the product, target audience and approaches. While scripts can be helpful, they may not always fit the needs or flow of the conversation. With more time and experience, you will become comfortable and will convert more calls to sales. In the meantime, here are some ways to increase your efficiency as a call center salesperson.
Most people do not want to spend time on random calls for enterprise sales. Accept this and remain professional at all times, no matter how rude the other person may get. You also never know who your next customer will be, so always talk professionally, respectfully and know that being harsh back will not move you ahead or help complete more sales. It’s best to keep your cool and to focus on the next call and sale.
Expertise on the product or service you are calling customers about is essential for success in a sales call center. Customers are more likely to purchase from a knowledgeable seller who answers relevant questions and displays expertise. It’s hard to sell a product you don’t know! Take training seriously and use that time to learn everything you can about the item or service you will be selling. Realize that you may need refreshers and know what resources to look for when changes are made to the product.
To increase the likelihood of success, you should know how the product works, any pros and cons of the item and other technical aspects. If a potential client asks a question you do not know the answer to, make sure you write down the solution once you find it to remember it for future instances. A successful caller will also know the target audience and tailor the conversation approach to fit the customer's wants and needs. If you speak with customers repeatedly, keep good notes on each customer to be well prepared for callbacks or check-ins. This can help build rapport, trust and create a relationship with the customer for collaborations.
Time is valuable, so get to the point quickly and efficiently. A call script may be beneficial here to help ensure you state the key facts and selling points within the first minute of the call. By eliminating unnecessary fluff in the conversations, you save your potential clients time and save your own time. Work to minimize wait times for callers and to have as much information readily available as possible so that you do not have to place callers on hold unless absolutely necessary. If a caller seems interested but also rushed, match the pace by quickly giving a brief fact-filled overview.
Consider the product or service from the customer’s point of view. If you were the customer, what would you want to know about this product? Examine and note reasons for why the product is useful, how it could help the customer every day and what makes this product better than others on the market. You should also think about what questions or concerns you would have before making this purchase. Find ways to adapt these findings into your script to come off as thoughtful, knowledgeable and to limit time by hopefully answering any questions a caller might have before being asked.
Call centers are increasing in popularity as a modality to facilitate increased sales for many companies. While cold calls about a product can be an arduous task, those callers who are thoroughly and adequately prepared before picking up the phone will see the most success. Take notes of what seems to work on the calls that convert to sales, and consider implementing this on as many future calls as you deem appropriate. No two calls will be the same, so work on feeling comfortable adapting to the client’s needs throughout the phone call. Above all, remain knowledgeable and professional at all times.
Publish Date: July 20, 2021 5:11 PM |
Whether you own a small business or a large establishment, an established company or a startup, every business owner is laser-focused on increasing their sales. At the end of the day, that's all that matters. All the planning, marketing and budgeting have the hoped-for end product of attracting customers and expanding sales. Here are a few strategies to consider for your next sales meeting.
Master Sales Management
At its core, sales management is all about planning, training, and implementing sales strategies that will drive a business's sales upward. To effectively manage all aspects of your sales plan, you should begin by placing a great deal of focus on hiring. The foundation of successful sales is building a great team. Once you have gathered the best team you can muster, you must then give them the best training possible, especially on product knowledge. Next, you should make sure that your sales goals have been clearly defined and that you have a detailed plan for implementation. Finally, your sales plan isn't complete until you have implemented a robust customer relationship strategy. Sales management can be quite complex and can be aided significantly with sales management software.
Use Social Media Advertising
Even the smallest business can and should engage in social media interactions and advertising. This is a great place to build relationships with potential customers. Make sure that your business has a profile on all of the major social media platforms. If you're on a tight budget and don't know a lot about social media, don't hesitate to hire a consultant from a local college to help you set up your profiles and begin identifying your target audience. College students in the marketing field are eager to build their resumes and will be willing to work with you even if you're not able to pay top dollar. If you sell a niche product, expand your presence to some of the smaller niche platforms in order to locate your prime audience.
Offer Information and Education
A great way to increase foot traffic into your location is to offer training classes or product demonstrations at your place of business. If you've got great products, showcasing them through a class or demonstration gives you the ability to show potential customers just how fantastic it is and clear up any doubts they might have about their ability to use it. Whether you're selling cosmetics, clothing, software or lawn equipment, organizing a demonstration or an educational resource can be invaluable to existing customers, draw in new customers and give you the opportunity to expose clientele to additional products they may not be aware of.
Reward Loyal Customers
If you've been in business for a while, you know that existing customers are a precious commodity. They can be relied on for future sales and they advertise for you through word of mouth. If existing customers are happy with your products and service, they are also likely to increase the dollar amount of their purchases the longer they stay with you. Keeping them happy and coming back to your establishment should be high on your list of priorities.
There are a million ways to show your gratitude to loyal customers, and most of them are surprisingly low in cost. As long as you have a decent CRM program, you can keep track of your customers' birthdays and give them a little gift once a year. That can be as simple as a personal email containing a discount coupon or a product sample. Other simple possibilities are to offer a punch card that rewards the customer once they have made a certain number or amount of purchases or to hold special buy-one-get-one events in your store for loyal customers only.
Increasing your sales requires organized sales management, relationship development through social media and offering your customers education and rewards to keep them coming back for more. All of these ideas can be implemented on a small scale for businesses working with a limited budget, or in flashier ways by established businesses with a bit more to spend. Either way, if you want to increase sales, you'll need to be willing to take action to see results.
Publish Date: July 18, 2021 12:20 AM |
Your home should be the place you feel most comfortable. Where you go at the end of the day to unwind and get some peace. It should clearly show your personality and interests.
Decorating your house should be something fun to look forward to, and not a chore. When you approach the task the right way and set out to make your sanctuary a reflection of who you are, it will be more enjoyable for you, and capture the interest of any guests you invite over! Make your home a truly unique space with these tips.
Go for the Extraordinary
A simple way that you can transform your home is by looking for ways to upgrade the everyday staples that every house needs. You can change out the hardware on your dresser drawers for hand-painted ceramic pulls, or switch out your plain lighting for funky and colorful fixtures.
Highlight certain areas of your space with some spectacular accents. You could install glass barn doors for a special touch for your bedroom or even closet doors. Opt for frosted glass for more privacy. These easy changes will add visual appeal and give your home a complete makeover.
Go With Your Quirky Interests
Do you enjoy antiques or have a deep love for giraffes? Don't fight it or hide it, embrace it! Look for special pieces that capture your eye. You don't need to invest a lot of money here. Go to your local flea markets and garage sales. Look online for rare finds. Just keep your eyes open and buy what speaks to you. Over time you will increase your collection and can adjust your decor to reflect this.
You could build a set of shelves or a display case to show off all the figurines that you have collected. Devote each room of your home to a theme or palette of colors. There are no rules to follow, just be creative and do what feels right to you.
Display Your Treasures
Your home is a very personal space, so embrace that concept. Have you traveled extensively and have the souvenirs to show for it? Use them to decorate your home instead of keeping them in a dusty box. The more bizarre or fanciful, the better.
Each piece tells a story that you can share with curious friends. They may even spark an enjoyable conversation or inspire you to plan your next trip.
Play With Color and Texture
The object that place throughout your home shouldn't be the only expression of creativity and taste that you have. There is so much that you can do with other decorative aspects like color and texture. You can paint your walls a vibrant color or add throw pillows and blankets that contrast with the hue of your furniture.
Try laying some area rugs for a new look, or drape a sheer panel over top of your existing curtains. Frame some needlepoint or hang a tapestry on your wall. Texture can add a lot of depth and personality to a room.
Opt for One-of-a-Kind Pieces
Nothing gets people talking more than a fascinating and unique piece of art. You can make sure that no one else has a similarly furnished and decorated home when you go for rare items. Consider sourcing some different pieces of furniture for a mismatched living room set up. The sofa and chairs don't have to match perfectly as long as they have some kind of common theme. You can use accent pieces to bring everything together in a cohesive manner.
If you have a talent for art and crafts, try your hand at creating some of your own decor. You can try out the woodworking technique you've always wanted to try to build a side table. Or, frame some of your still-life paintings to display.
Go with your instincts and be playful with your decorating. You may even get a few requests to help your friends and family transform their own homes!
Publish Date: July 18, 2021 12:11 AM |
Summertime means spending hours hanging out in the backyard. To make the most out of this experience, you need an open and relaxing space. Just cutting the grass and putting up a few lawn chairs will not suffice. A true backyard paradise also includes a deck, a patio and a pool.
Of course, an extensive remodel can be quite expensive. Depending on your location and the extent of the changes, you could spend $13,000 on landscaping alone. A full patio, meanwhile, could set you back $50,000.
Thankfully, there are ways to finance swimming pools and other backyard additions. This will let you pay for the renovations over time. Here are five financing options available for yard remodels.
Whenever you want or need to make a major purchase, you probably reach for the credit card. If your card offers rewards programs, you can finance your renovation while earning points towards your next flight or hotel.
However, financing your backyard remodel with a credit card comes with some downsides. Cards frequently have high interest rates that could make your project even more expensive.
Some contractors offer financing options for their customers. Of course, the quality of these financing programs can vary. Some builders require an extra surcharge for this service. Others may ask for a cash deposit. You may also have to delay your project while you wait for the contractor to approve your financing plan. Look for contractors who provide multiple financing options with minimal fees and a quick approval process.
If the contractor does not offer financing, talk to a lending company, credit union or bank about a personal loan. The lender will likely check your income and credit score to see if you are eligible. You may also have to secure your loan with some form of collateral.
As with a credit cards, personal loans usually require interest payments that are not tax-deductible. However, if you have decent credit, the interest rates could be fairly low.
Best of all, applying for a personal loan is pretty easy and requires minimal paperwork. If you are approved, you should get your money quickly, as well. This option is best for those with high credit scores and great cash flow. While you can use a personal loan for any purpose, it is ideal for smaller backyard renovation projects. You should definitely consider a personal loan if you just bought your home and have minimal equity in it.
If you are planning a larger backyard project, you can refinance your home mortgage to get additional money. You will likely have to use your home as collateral. However, the refinancing process could lower your monthly mortgage payments. This is a particularly great option if interest rates are lower than they were when you first bought the property.
A home improvement loan, also called a home equity line of credit or HELOC, is a loan where you borrow from the equity in your house. You can typically get a home improvement loan from a credit union or bank. The lender will provide a revolving line of credit that you can borrow from for up to 10 years. You usually have 15 years to pay back the loan along with any interest.
The interest rates are usually tax deductible. They may vary over time, but they are typically lower than credit card interest rates are. You may also have to pay certain fees when you first open the line of credit.
A HELOC makes it easy to track how much you spend on your home improvement project. If you decide to sell your property in the future, a realtor can access this data and use your upgrades as key selling points.
Do not let a lack of funds stop you from getting the backyard of your dreams. By choosing any of the above financing options, you can make your new pool, deck or patio fit within your budget.
Publish Date: July 14, 2021 11:56 PM |
There are few things more intimidating than opening a small business. You've put time, energy and passion into your vision, and you want it to succeed more than anything. You probably know by now that being an entrepreneur is more than a full time job - it's a way of life. You put in long hours and have to make sacrifices to keep your business running smoothly. While there are no guarantees that your company will succeed, there are many things you can do to keep things trending in a positive direction. Here are just a few tips to consider.
Prioritize Your Customers
Your customers are the backbone of your business. If you don't have a loyal customer base, you won't have any income. Making your customers the focus of everything you do is one of the keys to success. One of your goals should be to consistently provide your clients with exceptional customer service every day. Create a company culture that prioritizes the needs of the customer above everything else. This will make your customers feel valued and more likely to return. One great way to do this is to empower your employees to fix customer service issues quickly and efficiently.
Listen to Customer Feedback
Always take customer feedback seriously and implement any changes if you are able to do so. Ask your customers if they would be willing to fill out a survey and seriously consider their comments when reviewing your business practices. If customers know you are listening to them, they are more likely to remain loyal to your brand and spread the word about your business. Testimonials can also go a long way towards building a strong, reputable brand, so don't be afraid to ask customers for review to put on your website or social media pages.
Be Serious About Training Your Employees
Many business owners dread training new employees because they view it as a waste of time and resources. This couldn't be further from the truth. Focus on training your employees thoroughly at the beginning of their employment and it will pay dividends in the future. Feeling that you are able to trust your employees to serve customers and avoid dirty data will allow you to focus on other aspects of your business. Be realistic about how long effective training will take. Approach it as a long-term investment.
Focus on Marketing
Effective marketing is crucial to the success of your business. Whether you handle marketing in-house or outsource it to an experienced firm, you should be prepared to devote serious time and energy to it. Come up with a brand identity and stick with it across all platforms. If you aren't using social media, you should be. Having a variety of social media platforms is a highly effective way to connect with your customers and inform them about your business. View marketing as a way to keep your brand relevant to your customers and engage in an ongoing conversation with them. If you only do one thing to strengthen your business, this should be it.
Be Smart About Finances
Never mingle your business and personal finances. This can get you in trouble with the IRS or, at the very least, cause you some major headaches down the road. Have a business credit card, keep all your receipts and consider opening an entity, such as a limited liability company or a corporation. Don't hesitate to work with an experienced attorney or accountant to help you handle the more complicated financial aspects of your business.
Work With Your Strengths and Weaknesses
Every business owner has strengths and weaknesses. If you are realistic with yourself about your weaknesses, you will be better equipped to delegate the tasks you aren't good at or don't like. Leaning into your strengths allows you to focus on the things that make your business great. Have a brainstorming session about your strong and weak points, then adjust your business accordingly.
Try just a few of these tips to see the positive impact they can have on your business!
Publish Date: July 9, 2021 9:07 PM |
Being the head of a company sounds like a dream. While this can certainly be the case at times, running a small business can just as often be a nightmarish experience. This is because small businesses have less resources with which to effectively manage themselves while also facing harsher penalties for failures. Surviving long enough to make a name for yourself is truly an accomplishment, but these tips can help you even the odds and eventually thrive.
While you may enter into the world of commerce with the purest of intentions, it can still be difficult to operate entirely within the letter of the law. This is because the law tends to be densely worded and hard for the average person to understand, leading to plenty of laws being broken purely because of ignorance or misunderstandings. In many cases, these mistakes offer little in the way of serious punishment, if any at all. For businesses, however, some minor legal mistakes can have major consequences.
The two biggest concerns for business law are the safety of the workplace and financial transparency. Unless you want to add court reporters Seattle to your list of concerns, you need to ensure that your business operates above board at every level and all times. Educating yourself about the federal and industry regulations that surround your business model is an essential first step, because these will not only protect you from legal ramifications, but also make your business more effective. However, compliance with regulations isn’t automatic, and placing your trust and an investment in expertise can help you ensure that your business is up to code.
In order to solve a problem for which you’re not prepared, you’ll need to find help from someone who is prepared. For example, hiring an accountant can help you tackle your business’s finance needs while also securing it against the potential pitfalls associated with filing taxes and declaring earnings. However, you can benefit from this even further by outsourcing that labor to another company. Simply put, outsourcing occurs when a business hires workers from another company to tackle specialized, and sometimes menial, labor. This practice can help businesses account for fewer instances of skilled labor without investing in full-time, skilled employees. This is instrumental in services such as marketing, because these fields require more skill than average and that skill will go toward improving your company. So, while skilled labor is necessary in many cases, you can save money on that labor and potentially get better results by farming out that work to a team of professionals from another company.
While plucking skilled laborers from other companies on a temporary basis can be good for your business where applicable, you’ll also necessarily depend on a roster of full-time employees. Taking care of these employees is an essential part of keeping things running smoothly, because employee morale has a few important effects on the company as a whole. For starters, dissatisfied employees will be less productive and produce worse results on average, and this hurts the overall business. On the other hand, poor morale leads invariably to poor employee retention, and this can cause lower productivity as a result of being down a team member, as well as additional costs for training replacement employees. Improving office morale is a problem that can be approached from multiple angles, however. For starters, medical benefits and monetary incentives are a natural fit when you can afford them. However, more frugal methods may be necessary, so consider motivating your staff by creating performance-based incentives and competition.
Starting your own business can be a dream come true, but only if you get out of your own way. Failing to bring your A game can result in any number of failures big and small, but if you take these tips into account, you’ll be prepared to sidestep pitfalls and avert crises, when and if they happen to arise.
Publish Date: July 8, 2021 9:28 PM |
From expensive gym memberships to busy schedules, there are many barriers to fitness that are challenging to maneuver around. It isn’t always feasible to fit a workout in when you have an important presentation in the morning to prepare for, or you just got an expensive repair bill from the mechanic. Fortunately, getting and staying fit isn’t impossible, even when the obstacles seem too numerous to count.
Exercise and fitness can, and should, be an important part of a balanced life. Here are a few ways to get your heart rate up without making huge sacrifices in all the other realms of your life.
With schedules becoming busier and busier, many find that they haven’t seen their friends in far too long. If a social outing is more than due, take it outside and get your blood pumping while you’re at it. Consider meeting at a rock climbing wall, for a hike, or grab your softball gloves for a fun game at a nearby park with good friends.
The mental load of scheduling a workout throughout the day can get heavy and exhausting, and sometimes workouts get pushed lower and lower on your priority list as the day’s events pile up. To reduce some of the stress of scheduling, carve out a consistent time and day dedicated to physical activity, so you aren’t scrambling to find time in each day’s events to get active.
With today’s technology, there are more opportunities to multitask than ever. Whether you have an important call to make, want to finish a chapter of an audiobook or need to take a casual meeting with a coworker, try taking it on the go. Walking is an underrated form of exercise, and even just a short walk can give you a considerable boost in your health and overall mood.
There is a reason that housework is listed in many health tracking apps. Household chores, when done with vigor or for an extended period of time, burn extra calories and help to tone your muscles while you organize your pantry, vacuum your stairs and fold laundry. Ramp up your efforts by incorporating one of the extra, more labor intensive tasks per week that have been sitting on your to-do list for months.
If you sit at a desk for most of the day, your muscles aren’t getting the activity they need to maintain and build tone and strength. Try swapping out your desk chair for an exercise ball, or consider trading your desk out entirely for a standing version.
After a long day at work, there are few things that sound better than crashing on the couch with a relaxing activity. Once you lay down on the couch, however, it’s harder to get back up to get moving. You don’t have to get home from work only to exert a great deal of physical energy in order to get moving. Before sitting or laying down for the night, take a nice walk around the neighborhood or perform a low-impact, stress-relieving activity like yoga.
Though it may seem insignificant, small changes like giving up good parking spots in favor of getting in extra steps add up in the long run. Skip the elevator and take the stairs, or volunteer to do the heavy lifting at work before a big meeting.
It may feel silly, but short bursts of strength training movement throughout the day can be just as effective as a single dedicated workout. If you’d like to tone your arms, and want to achieve 50 push-ups in a single day, stop to do a few on your way out the door, a set at lunchtime and a few more before getting into your car to go home. Exercise becomes much less a chore when you incorporate it into your typical routine, especially when you typically feel starved for time and energy.
If you only have time for a ten minute walk, take it. If you have a few dumbbells at home, use them. You don’t have to sign up for any intense workout plans or spend money on expensive at-home equipment. The goal is just to be active, and any moments you spend doing so is a reason to pat yourself on the back.
Publish Date: July 2, 2021 12:17 AM |
How would you characterize a powerful leader? Assertiveness, flexibility, intelligence, and conscientiousness were recognized as the most significant leadership attributes in one survey.
Positive, empowering, and inspiring leaders are transformational. They value their followers and motivate them to do better. So, how can you embrace these important leadership attributes and become a more powerful and effective leader?
Leaders who are transformational are often regarded as enthusiastic, passionate, sincere, and dynamic. These leaders are concerned not only with assisting the group in achieving its objectives but also with assisting each individual member in realizing his or her full potential.
Consider some of the following suggestions for being a better leader, and consider how you may put them into practice in your daily life.
Idealized influence is an important component of transformative leadership. The habits and attributes that transformational leaders inspire in their followers are then demonstrated by their followers. They don't just talk the talk; they walk the walk. As a result, members of the organization look up to these leaders and want to replicate their actions.
According to research, leaders can instill a specific belief in their followers and then convey that inspiration to them, whether it be asking "what is Thrive" or leading a company meeting. As a result, followers are upbeat and have great expectations for themselves and others.
Work on modeling the qualities you want to see in your team members if you want to become a great leader.
It's critical to recognize your present leadership style. What are your strengths? What areas do you think could use some work? Take a leadership style survey to gain a rough understanding of how you lead as a starting point for evaluating your abilities.
Read about the primary elements of your dominant style after you've finished the quiz. Are these characteristics assisting or obstructing your leadership? You can start looking for strategies to improve your leadership talents once you've established which areas require improvement.
Would you seek someone for advice and leadership if they were unconcerned about the group's objectives? Certainly not! Great leaders aren't just concerned with getting their team members to complete duties; they care deeply about the projects they work on.
Consider numerous ways to communicate your zeal to help you build this leadership characteristic. Make it clear that you are concerned about their progress. When one of the group members shares something with the rest of the group, make sure to express your gratitude.
Transformational leaders also provide inspirational motivation to motivate their followers to take action. Being inspirational, of course, isn't always simple. Fortunately, motivational speeches aren't required to stir your group members.
Being truly passionate about ideas or goals, assisting followers in feeling included in the process, and delivering acknowledgment, praise, and awards for people's achievement are all examples of leadership inspiration.
One of the qualities that define transformational leadership is intellectual stimulation. It is necessary to inspire followers to show their originality. New challenges should be presented to effective leaders, along with enough resources to help them achieve their objectives.
Offering challenges to group members while ensuring that the goals are within their grasp is one technique to encourage innovation. The goal of this sort of exercise is to encourage people to push themselves to new heights while avoiding becoming disheartened by obstacles to accomplishment.
A focus on one-on-one communication with group members is another crucial characteristic of transformative leadership. When leaders are able to communicate their vision to followers, who are then inspired and driven by it, transformational leadership is effective.
Good leaders should show genuine concern and care for their followers, both verbally and nonverbally. These leaders can guarantee that group members feel able to contribute and receive appreciation for their accomplishments by keeping lines of communication open.
Publish Date: June 30, 2021 11:31 PM |
Having enough energy is a key part of leading a healthy, productive life that you enjoy. When your energy levels are low, you aren't able to devote time to work, play and important relationships. Here are ten tips to help support an energy-filled life.
It seems counterproductive, but exercise can actually help you when you are low on energy. While the last thing you may want to do is exercise when you feel exhausted, you should consider a simple walk. Health experts have found that a brisk ten minute walk will increase energy levels for up to two hours. These same studies have shown that if you choose to extend these walks to ten minutes every day for a week, your overall energy and mood will be increased.
Stress consumes vast amounts of energy. There are various ways you can reduce your stress and anxiety, including meditation, therapy, yoga, joining a support group, exercise, researching Thrive side effects or talking to a loved one.
Strategic use of caffeine can be a great way to combat exhaustion and low energy levels. This does require some planning, however. If you drink caffeine too late in the day, it can interfere with your sleep cycle. Try having one or two cups of coffee in the morning to jump start your day.
Alcohol is a depressant and can lower your energy level. Having a beer or cocktail at lunch can have an impact on your energy for the rest of day. If you want to have more energy at night, avoid having a drink with dinner. This doesn't mean that you can't enjoy an adult beverage, but stay mindful of when you need extra energy and stay clear of alcohol at that time.
Health experts say that eating breakfast can mean having more energy throughout the day. Studies have also shown that missing meals can lead to a feeling of fatigue. Plan ahead and make it a priority to eat breakfast, lunch and dinner.
Eating junk food and unhealthy snacks can sap your energy. A healthy diet includes fruits, vegetables, whole grains, dairy, protein and minimally processed foods. Make water your preferred beverage and stay hydrated throughout the day.
Taking a power nap can be helpful when your energy level is low. Studies by the National Institute of Mental Health have shown that a sixty minute nap can reduce information overload and increase alertness.
Snacking between meals can help with energy levels, but it shouldn't be just anything. Health experts say that snacks should contain protein, like peanut butter or a handful of nuts, which helps increase energy.
Balanced blood sugar helps keep energy levels consistent. Eating sugary foods causes a spike in blood sugar, which then rapidly drops and can leave you feeling drained. If you eat sugary foods throughout the day, your energy levels can be severely impacted. Whole grains are a more consistent source of fuel and won't leave you feeling tired.
If you have been trying to increase your energy levels with little to no success, you may want to consider a trip to the doctor. Low thryoid function causes low energy levels and exhaustion. A simple blood test can determine if this is the case and your doctor will most likely prescribe a medication that can help. Anemia, which is a reduced amount of red blood cells, can also be a culprit when it comes to low energy. This can also be addressed with medication.
Don't settle for a life of low energy and exhaustion. Try to implement just a few of these tips to see if they have an impact on your energy and, when in doubt, visit your doctor.
Publish Date: June 30, 2021 11:30 PM |
Some business owners just seem to effortlessly make money. They know their customer, market their product successfully and have high revenue. Creating a high-profit business is achievable, but takes time, energy and focus. Here are some things that high-profit businesses do to stay so successful.
Knowing the Market
A high-profit business starts with having a great idea for a product or service that customers genuinely need. Certain businesses just make more money than others based upon what they are offering their customer base. Studies done by the U.S. Chamber of Commerce have shown that some profitable small business ideas include home improvement services, tutoring services, accounting, personal training, digital marketing and delivery services.
Focus on the Customer
Whether the company handles ESG reporting or landscaping, customers can make or break a small business. Successful business owners know that keeping the customer at the center of everything they do is key. High-profit businesses do research on the demographics and buying habits of their customer base so they can tailor their marketing efforts to the people who are most likely to purchase their product or service. Successful business owners also take customer feedback very seriously. They conduct surveys and ask their customers about what they can be doing better. Finally, a strong business model includes giving team members the ability to fix customer service issues quickly and efficiently, which makes customers feel respected and keeps them coming back.
Create a Strong Brand
A strong brand increases visibility and credibility within the customer base. The more familiar customers are with a company, the more likely they are to give that company their business. Branding helps businesses stand apart from the competition and tells a story about their values. A strong brand is also important for business owners because it helps them stay focused on their message and goals.
Spend Money on Marketing
Marketing is a key part of creating a successful, high-profit business. This starts with a strong brand and branches out into advertising and public relations. Marketing gets customers interested in a product or service through research, analysis and understanding the customer's needs. While most people think of advertising when they think of marketing, there is much more to it. Marketing also includes product development, sales and distribution methods. High-profit businesses may opt to hire a firm that specializes in marketing, rather than handling marketing in-house.
Build an Effective Team
An effective team helps a business run more smoothly. Owners of high-profit businesses know that being able to trust their employees is critical. Trustworthy employees can be given important tasks so that entrepreneurs can focus on building their business. Successful businesses also have a respectful, vibrant company culture and focus on work-life balance so that their employees don't get burned out.
Analyze Finances
Successful business owners are always aware of how much money they are making. Analyzing any changes in revenue is a good way to know what is working within a business model and what needs to be adjusted. If business isn't going well, owners of high-profit businesses know that it may be time to change their product or service, or pivot to more successful offerings.
Track Time
Business owners who are aware of how much time they and their team spend on tasks are able to more easily eliminate waste. There are many brands of software available on the market that help entrepreneurs track the time and efficiency of their business.
Be Aware of Low Value Versus High Value Activities
There are activities that are essential to any business, such as accounting and scheduling, that don't add much value. These are often the tasks that eat up the most time for business owners and employees. Part of creating a high-profit business is figuring out ways to handle these low value activities in the least amount of time and putting more time towards high value activities like marketing and sales.
Putting just a few of these ideas into practice can help businesses increase their profits and level of success.
Publish Date: June 28, 2021 7:33 PM |
There's always room for improvement. That's a truism that stands the test of time, especially in the world of entrepreneurship. It's probably fair to say that most business owners like a good challenge and are always asking themselves how they can get better at whatever they do. In that spirit, here are five things that your business might need to improve upon, and how you can make those changes.
From the general ledger to predictive modeling, having qualitative knowledge of your business processes is critical to success. Still, many entrepreneurs don't take full advantage of the tools available for collecting and analyzing information. This can result in a lack of critical data or, even worse, dirty data that doesn't reflect reality. Make sure that you have high-quality accounting and analytics programs. It could also be a good idea to invest in customer relationship management (CRM) software and other sales automation tools. Let computers run the numbers, and let human staff stick to the creative side of business planning.
This is another area in which digital technology and automation is helping businesses tremendously. Digital organizational tools have advanced far beyond clocks and calendars. Project management software allows both rapid file sharing and communication between team members who may be working at different sites. These same programs can also keep track of progress towards completion. Digital timesheets can spare managers the headaches of calculating payroll for employees working under differing contracts. All of this adds up to wiser time use and greater efficiency.
The business world is supposed to be all about survival of the fittest, right? Not necessarily. In fact, building connections between your business and others has never been more necessary or more profitable. Obviously an array of B2B services exist just for that purpose, selling everything from digital services to office products. Networking needs to go beyond this, though. Partnerships with charity organizations are a great first step in outreach. Philanthropists get backing, their sponsors get visibility, and the money invested does something objectively good. Everyone wins.
Another kind partnership that's proving to be revolutionary is influencer marketing. When a social media influencer with a wide audience in a specific lifestyle niche partners with a seller in their industry, the results can be powerful. Industry surveys in 2019 showed that around 48% of companies reported ROI from influencer-based marketing being greater than gains garnered through other channels. Consider teaming up with a social media trendsetter in your field and share in the visibility.
If consumers get the idea that your business is only about making money, that can be the proverbial kiss of death. The numbers don't lie: Groundbreaking research from Deloitte revealed that about 60% of millennials base their decision to work for a company on the values of that company. Imagine how customers feel. Making your values and vision a part of your day-to-day operations is crucial, but the visibility of those actions to the public are just as necessary. Whether that takes the form of a 5K run or a sustainability pledge depends on the nature of the company. Even an iron-clad commitment to neutrality on social issues is still a vocal stance, and people will appreciate that the management of your business feels and promotes a sense of purpose beyond profit.
A mistake that business owners often make is competing with other businesses on price. According to tech company First Insight's recent study, 53% of customers base their decision to purchase primarily on the quality of the product, with only 38% viewing price as the number one concern. Quality is about more than just how well the product functions, it's about the impact that it makes on the life of the customer. Always approach product or service development by asking what the offering can do to improve the customer's life. That shows a true commitment to authenticity.
In business, the goal isn't perfection, it's progress. There will always be new challenges to confront, but with a strong foundation of knowledge, you'll be prepared to face them head-on and succeed.
Publish Date: June 28, 2021 3:03 AM |
New entrepreneurs and longtime business veterans have one goal in common: to keep growing their companies. That's easier said than done, especially in uncertain economic times. The good news is that a few ideas stand the test of time when it comes to scaling a business. Here are three practical steps that any business owner or manager can take to keep their business growing.
Information is the lifeblood of any company. It's important to gather data about your business processes at every step. Having inaccurate data (often called dirty data) is bad enough, but missing information you should have collected can be catastrophic. This quest for information should focus on your internal and external numbers. Make sure that the general ledger is accurate by developing solid math skills yourself as well as investing in good accounting software. In fact, business process automation tools are sophisticated enough to make a huge impact on efficiency at all levels of a business.
Getting marketing research right is equally important. A qualitative approach, using customer feedback surveys (especially via text message) and virtual or in-person focus groups, are perennial favorites for getting subjective opinions. Gathering quantitative market data might take the form of a deep dive into local and global cultural demographics, or it could simply involve further questionnaires and surveys, though done in a more scientific manner (such as including control groups).
It's important to focus on well-established revenue sources. That doesn't mean that you can't or shouldn't broaden your offerings or take advantage of new markets. A good example of this is micro-niche marketing, which takes advantage of the rapid proliferation of new subcultures with their own unique commercial demands. For example, if you own a vintage clothing shop, some micro-niches might be 80s nostalgia, or steampunk aesthetics, or even both, with targeted outreach to specific communities. A key component of this strategy is termed resonance marketing, which means engaging your customers in a mutually beneficial relationship by turning your core values into an identity that resonates with your market.
Greater adaptability may also require a change in the structure of your business. A flatter organizational structure, in which employees have less monitoring but more input and responsibility, can speed communication by cutting out redundant levels of middle management and encouraging knowledgeable generalists. On the other hand, a more traditional hierarchical structure has the advantage of strategic clarity and rewards worker specialization. Figure out which style works best for your business.
Customer experience (CX) is about more than just customer service. It's best to take a holistic approach to the customer's journey with your business and see every touchpoint along that road as a chance to do right by consumers. Find out their preferred method of customer service and then make that your policy. Have an e-commerce option for purchases. Whatever you choose, your effort will pay off. According to Dimension Data's 2017 Global Customer Experience Benchmarking Report, 84% of companies that make an effort to improve customer experience reported a revenue increase. More importantly, 92% reported increased customer loyalty. In other words, if you meet customers on their own terms, you'll earn their loyalty. Customer relationship management (CRM) software can also be a major help in automating and systematizing this process.
Remember also that customer experience goes well beyond service. The most effective form of advertising continues to be word of mouth. This degree of social capital comes from personal customer satisfaction, and satisfaction is determined largely by product quality itself. According to tech company First Insight's recent survey, quality beats price as the primary concern of purchasers by 53% to 38%. Make sure that your product improves their quality of life in some objective way and does so to a greater degree than your competitors and then showcase that truth in your advertisements.
There is no surefire path to success in entrepreneurship. Even so, keeping these three foundational strategies in mind will help you make the changes that you need and want to make to drive your business forward.
Publish Date: June 28, 2021 3:01 AM |
Working from home can provide many positive benefits, but the time spent away from the office can be lonely for some, and despite the perceived freedom, it can actually be a little unhealthy since it is tougher to make time to get to the gym. And with the kitchen so close to the desk, many work-from-home employees find snacking all day negatively influences weight. Also, when household chores are readily available, it can be hard to take the time to go for a walk or drive to a gym. So when a company offers an on-site gym, this can be a great enticement to working on-site.
Company gyms were started as a benefit to the employer. The employer values healthy employees to keep absenteeism down, and healthy employees lower health care costs for the employer. Companies began providing on-site gyms to ensure employees have free and convenient access to the equipment needed to keep them healthy. Employees who use the gyms can benefit in several ways.
Health
Working a sedentary job has been compared to the negative health outcomes similar to those who smoke cigarettes. More and more studies are showing that sitting at a desk all day is not healthy. Sit-stand-up workstations do provide some benefit, but not a workout. They don’t increase your heart rate and won’t help you lose weight. Even with a company gym, you won’t be working out each hour, but if you start or end your day at the gym, you will have an increased focus on your health all day long.
Working out is a great way to reduce stress and increase energy. Studies show that those who exercise regularly are more inclined to eat healthier, take vitamins, and have better overall health outcomes. A Thrive Patch, a transdermal patch that offers vitamins and minerals throughout the day, can provide energy to help combat the unhealthy effects of sitting at a desk.
Price
Gym memberships are costly and, depending on the facility, can cost between $58 to $200 a month. Most people who join gyms rarely use them. That’s a steep investment and, if rarely used, is money wasted. Some company gyms offer free classes in yoga and overall fitness or provide trainers. By using the company gym, you’ll not only save the cost of a gym membership, but you can look at it as an increase in your salary.
Convenience
Having a gym at your work means you don’t have to drive to another location that may be out of your line of travel. Once you are on your way home, the enticement of household chores or stopping at the grocery store can persuade you from veering off your course to go to the gym. If you’re already going to work and can schedule a workout session before or after work, you have a better chance of actually attending.
If the weather is bad, you may be able to spend some time walking indoors on a treadmill. The more time you spend on exercise, the more you’ll look for ways to fit exercise into your life. Even if you can’t do a complete workout before or after work, you can usually make time for a short workout before heading home. You’ll feel energized and refreshed.
Accomplishments
At the end of the day, you can feel a sense of accomplishment knowing that you performed your job and completed your workout. The unhealthy effects of the sedentary job will be lessened. If you visit the gym regularly, your health goals of losing weight and getting in shape can become a reality.
Company gyms provide many benefits for the employer and the employee. It is worth it to check out what they have to offer. Besides the benefits mentioned, the peer pressure of co-workers can be a great motivator. When others in your company see you as committed to your health and making improvements in your life, you are seen as more successful.
Publish Date: June 28, 2021 3:00 AM |
Elon Musk is a divisive character, sometimes seen as the epitome of a god complex, sometimes seen as a visionary. No matter what you think of Musk personally, it's clear that Musk and Tesla really are delivering forward-thinking ideas around clean energy. Here are the top four ideas that Musk and his team have developed into working models of clean energy efficiency.
The Solar Roof
One of the reasons people give for avoiding home solar systems is the look of solar panels. While sleek and black, they do stand out on the roof, making the solar system obvious. With Tesla's new solar roof, the entire roof, front to back and side to side is one big solar collector. Each small shingle pops into place, providing the same protection as a traditional roof but also providing solar energy to your home. The price of a solar roof is still very high, but as competition increases and the technology improves, it's likely that your next roof will be a solar roof.
Solar Battery Arrays
For many years, the only way to make solar work in the home was to have a two-way meter and remain locked into the electrical grid. During the day your solar system might make excess electricity which was sold back to the utility company for a credit against the standard electricity your home would use at night. There just wasn't a good way to hold onto the electricity your home was creating; you had to use it or get rid of it. Enter Tesla's Powerpack, Megapack and Powerwall battery storage solutions.
Tesla solar batteries have made it possible for solar homes to store their own electricity for use at night and during emergencies. While other companies are catching up with the technology, the Tesla batteries can automatically switch your home from the electrical system to a battery backup. You don't even know the power has gone out. The batteries can charge even when they are in use, which is a big step forward from other solar batteries. Like solar roofs, this new technology is still expensive, much more expensive than a traditional solar system, but prices will continue to come down and with Tesla's innovation spurring competition, who knows what new features you'll see in a few years?
The Gigafactory
Industrial plants have said that renewable energy won't work for manufacturing. Elon Musk proved them wrong. The Tesla Gigafactories, are giant buildings covered in solar panels, but that isn't their only power source. Besides solar, the factories use geothermal heat and wind power to drive their operations. Originally one location in the Nevada desert outside of Sparks, the giant factory worked so well that Tesla has begun several more and other manufacturers, especially car manufacturers, have seen the results and jumped on board with their own plans. It's estimated that Europe will have 16 Gigafactories, from Tesla and other companies, by the end of the decade.
Cars
There's no discussing Tesla without looking at its core product, the electric cars. Before Tesla electric cars, the technology seemed moribund. Despite BMW introducing an electric car at the 1972 Summer Olympics, sales were stagnant and the offerings few and far between. GM Saturn brought out an electric car in 1996 but it was available in three states and was only available for lease. The car could only go 100 miles; it didn't have a big audience.
The Toyota Prius may have been the first mass-market electric car, but the Tesla Roadster, and its later models, were the first electric cars with wide appeal. It was the design element that made the cars seem like more than the central joke for an episode of Southpark.
The story of Elon Musk and Tesla is a case lesson in how innovation drives market growth and competition into new fields. Without the vision of Musk and his team, it's unlikely that any of these four items would have had a chance of becoming part of everyday life.
Publish Date: June 26, 2021 10:09 PM |
Chances are you have seen the scenes in a movie where cyber attacks occur, and everyone starts to panic. Fast typing, hectic phone calls, and computer screens going black seem pretty scary and creates a “doomsday” feel.
However, when cyber attacks occur in real life, things look slightly different. In fact, it could be days, weeks, or months before you even know your network has been breached. After you figure out this has happened, you may not know what to do next. That’s why it’s so important to prepare now. Along with learning what is a cyber attack, knowing how to handle the situation is a must. Keep reading to learn what to do.
Figure Out What You Lost
After a cyber attack, the first step is the most important. Unfortunately, it’s commonly overlooked. In some cases, this occurs because of laziness, but companies don’t want to face the reality of the situation in other situations. If you are the victim of a cyber attack, you need to figure out what information has been taken. This is because this will determine what the next step is.
Your goal is to make a connection to what happened and what caused it. Figure out what was breached or stolen. The next step is to make connections from the information you gather. If someone stole email addresses, the steps you take next will be much different than if credit card numbers or other sensitive data was stolen.
Replace Outdated Technology
Now may be a good time to replace all your old security technology with newer, more updated technology options. You also need to add tools where necessary to create a more in-depth line of defense. Now is the time to invest in highly integrated solutions that offer a wide range of alerting capabilities and utilize automation when possible. It’s smart to balance preventive tools with defective capabilities rather than just having one or the other.
Keep in mind, though, even if you purchase all the shiny and new technology, it is completely useless if you don’t have the proper controls and processes in place. Cyber attacks and data breaches, no matter if they arise from inside or outside your business, are determined by people’s behavior. Remember, there’s no technology in existence today that can stop a motivated individual who has enough resources and time. While it can prevent most of these issues, it’s not 100% guaranteed.
Secure All Passwords
When it comes to protecting your network and business, you have to take steps to secure your passwords. It’s also wise to set up multi-factor authentication. Creating password policies that are adopted company-wide can be beneficial in protecting your business and minimize the likelihood of a cyber attack.
Take Steps to Keep Things from Getting Worse
Thanks to the advancement in technology, cyber attacks are more common than ever before. You have to take some steps to keep the situation from getting worse after it occurs. This includes disconnecting your network, removing any remote access, and changing your firewall credentials.
You should also keep an eye on any affected systems to ensure it doesn’t keep spreading. If it has impacted the entire network, be sure to notify your customers and staff about the attack to help them take the right steps and avoid further problems from the cyber attack.
Backup Your Network
When it comes to protecting your network and business, you need to make sure you backup your system regularly. This will ensure that if you do experience an attack, you have a point to revert back to. This is going to help prevent any serious and often devastating issues from occurring.
When it comes to a cyber attack, it is important to know what to do to recover your system and network. In the long run, being proactive and preventing this issue is best, but taking action after it occurs is also important. Being informed is the best way to ensure the desired results are achieved.
Publish Date: June 23, 2021 9:24 PM |
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