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5 Technology Trends That Have Improved Employee Culture

Technology is currently what keeps the world going at the pace we have become accustomed to. As technology improves and new things are designed to make life easier, more jobs are both opened up and replaced. This has a huge effect on small businesses and employees.

These new, growing pieces of technology have created whole new roads in business that before were unthinkable. They have also been able to influence trends and helpful pathways through projects. This impacts employee benefits in the workplace more than it impacts anyone else.

Technology trends greatly affect the workplace and the people who spend their days there immensely. These are the trends in technology that improve employee lives and makes their productivity go up. Many of these groundbreaking applications have been able to significantly improve employee culture.

1. Collaboration

Collaboration is not exactly a new concept in the workplace. It is well known that working together as a team and sharing information is the best and quickest way to complete projects. However, technology has made collaboration at work easier than ever.

This begins with things as easy as sharing files and having a company wiki for everyone to check information on. Having a way for employees to ask each other questions and check deadlines or get help from one another. This is easily done by having one or two simple company-wide communication applications.

The collaboration between employees builds investment in your employees’ lives. They become attached to helping one another and being helped. A healthy, communicative company environment is better for employees and employers.

2. Flexibility

One of the hardest parts of any job is finding the work-life balance you need to stay healthy and happy. This is a struggle many employees have faced over the years. Wanting to be a good worker takes away from family life and wanting to be with your family takes away the time you could spend working.

Technology has made this problem much easier to face and solve. The ability to work online has completely changed the need to stay at work all day without seeing your family. It is now possible to work from home when you need to without having to worry about the quality of your work suffering.

New applications are being made all the time to allow bosses and employees to communicate effectively while one or both are not in the office. This opens the ability for employees to find that work-life balance that has always been so elusive. It also makes communication throughout the company much easier and quicker.

3. Security

One of the benefits of technology in the workplace that is not discussed enough is security. Especially for small businesses trying to keep up with what buyers want while not sacrificing safety. The ability to keep information of employees and customers safe online is indispensable.

Internet security companies are all over the world and they were created specifically to keep your information safe. This includes employee information, customer information, and all your money or business information. If everything is online then your business needs to make sure the internet is a safe place for their employees and customers.

Luckily, this has gotten much easier as so many businesses use the internet to buy and sell products. Employees prefer knowing they are working in a place dedicated to keeping them and their earnings safe. Customers will also appreciate the safe space to enter information and know it will not be stolen or sold.

4. Better Experience

Your employees are the most important asset in your business. They keep everything running smoothly and handle the things you don’t have time for. They also deserve to have the best experience working for you as possible.

It does not matter if you are running a tiny boutique or a huge marketing company, technology will make things run more smoothly. Especially in the lives of your employees who work with customers every day. Technology can make the entire transaction go much faster and end in a better experience on both sides.

Making payments digital gives employees the ability to focus on product and customer experience instead of running a cash register or fixing broken machines. This improves employee experience as they deal with less stress and makes for better customer experience.

5. Staying In The Game

Technology is not stopping or even slowing down anytime soon. If anything, it is growing and constantly changing. This means a relevant business has to keep up with these changes and improvements in order to stay in business.

Your employees will be able to get more done and keep your company running at the same pace as your competition as long as they have the technology required to do so. This requires making sure you provide these tools to your employees to help them do their job.

Employees get frustrated just like you do when the company starts falling behind. Giving them the tools to keep your business in the game is the best way to help both your company and employees. This requires keeping up with technology and communicating with your employees to know what they need.

Conclusion

Technology is not going to stop growing. Supporting your employees and helping your business requires keeping your technology up to date. Recognizing how important technology is in the lives of your employees and your business will help you immensely as the internet becomes bigger.

This might require adding new applications for you and your employees to communicate. Putting company resources all in one place so your employees can always know where to look for information makes collaboration better. Even just making sure your technology is all running smoothly is a vital practice.

As long as you keep your employee and company information safe online, you can only benefit from the addition of better technology. This is a great way to improve the lives of your employees and increase employee satisfaction in the workplace.

Guest Post: About the Author

Gabe Nelson is a content specialist of over 7 years of experience, currently working with Everything Benefits. He has a passion and keen understanding when it comes to employee management inside and out. He has written hundreds of content pieces in numerous niches. Currently, he lives in Missouri with his wife and kids.

How to Define and Implement Your Office Culture

These days, if you don’t have an appealing company culture, you can forget about attracting top talent. Office culture is defined as the environment you create for your employees, down to everything from the way your office is decorated to the core values and beliefs of the company at large. And while it may seem insignificant, this stuff matters a whole lot to your most-likely pool of applicants — millennials and Gen Z’ers — who repeatedly say they only want to work for companies that have a positive impact.

In fact, according to the 2019 Deloitte Global Millennial Survey, the vast majority of millennials and Gen Z’ers say they’d leave a company that didn’t align with their values. The study found that they’d ditch an employer that didn’t have a positive impact on local communities (74 percent say they’d leave), didn’t provide a motivating and stimulating work environment (73 percent say they’d leave) or didn’t prioritize diversity and inclusion (75 percent say they’d leave). The study also showed that work-life balance and flexible working practices are non-negotiables for the talent pool.

So, if you want to be at the top of your game and get the best of the best on your team, you’ve got to develop a workplace culture that caters to them. Here’s how.

  1. Brainstorm with Leadership:

    Step one: Figure out what your company believes in. While surveying your workforce will be important, your organization’s core values should start at the top. That’s what being a leader is all about! Once you have a general idea of your cultural foundation, send out a survey to all of your employees to get a general idea of what they believe in and care about.

  2. Create a Mission Statement:

    Once you’ve gathered the data, it’s time to put it into the official rulebook. Look to some game-changing companies to see what their mission statements are all about (remember, Google’s code of conduct famously used to say “don’t be evil”) and to get inspiration. Read good examples of company mission statements from Patagonia, TED and Life is Good.

  3. Brand and Promote with Your Mission Statement:

    Having a mission statement does you no good if you don’t use it to guide your company! Post it around the office and make sure every department references it in their daily decision-making. Remember to feature it in your branding, especially if you’re hoping it will attract a higher caliber of talent to work for you. Lastly, be sure to create a designated page for it on your website (and share it on social media).

  4. Hire with Your Mission Statement in Mind:

    Speaking of talent, your office culture is going to be really important when you’re deciding whom to hire. Now that you’ve got your mission set in stone, you can conduct “cultural fit” interviews, which include culture-focused questions in addition to aptitude-oriented ones. Some examples of culture fit interview questions include:

    1. Outside of work, what are you passionate about?
    2. How do you maintain a good work-life balance, even when you’re especially busy at work?
    3. What’s your view on co-worker relationships?
    4. In what kind of environment do you feel the happiest and productive?
  5. Celebrate Your Culture with New Hires:

    You’ve now got a mission statement as well as branding and employees to support it! Congratulations! Make sure you celebrate your workplace culture with every single new hire by surprising them with unique onboarding gifts and activities. On their first day, give them some company swag coupled with something more lighthearted to demonstrate your culture and break the ice, such as some funny socks or a cute mug.

  6. Designate Culture Captains:

    Perpetuating the culture of your workplace is important to ensure that it keeps its core values at the forefront as it rapidly grows and changes. But leadership can’t always be on the ground ensuring that culture is infused in every factor of business. That’s where your culture captains come in. These workers serve as culture representatives who can keep your mission statement alive through events, games, and awards.

  7. Plan Regular Culture Events:

    Have your culture captains set up a monthly employee activity that involves either the whole company or the whole department, depending on the size of your operation. Getting together periodically for non-work events brings your team closer together and solidifies your workplace culture. Activities like bowling, pro sports games, escape rooms and volunteering make awesome alternatives to the standard happy hour.

  8. Reward Top Performers:

    When you see an employee or department excelling in a certain area that adheres to your company’s core values, reward them! This is the best way to perpetuate workplace culture so it’s something that your entire crew adopts. Consider instituting a monthly culture-focused award and making the prize something everybody really wants, like an extra day of paid vacation or a gift card to the best restaurant in town. Don’t skimp! The better the prize, the more your workforce is likely to take it seriously.

Here’s the thing: All prospective employees want an appealing office culture, which means that modern operations feel the need to manufacture it, and that tends to come off as forced or fake. Plus, the applicants you probably want to hire don’t pay attention to things that they don’t deem authentic. The most important thing to keep in mind while you’re building out your culture is to center it around the things you and your workforce actually care about. Be authentic and reap the rewards!

Guest Post: About the Author

Josette is the Marketing & E-Commerce Associate at The Sock Drawer. She is known as the person you want helping you, who approaches each little detail thoughtfully but also has a strong sense of humor and a whip-smart attitude. Outside of work, she loves to dance, hang out with her cool husband and kids, and inject her upbeat energy everywhere she goes!

Team Building Ideas to Strengthen Your Business

As a business owner, you ultimately must ensure that new recruits mesh well with your established team. Unfamiliarity can breed problems and inefficiencies, and it hampers proper communication. One way to bring new employees into the fold is through team building exercises. These activities help foster interdependence and trust among your employees. New employees learn to work with each other and with old-timers for the good of the team. In the end, the time and money spent on team building should be repaid many times over. What follows are several team building ideas that can strengthen your business.

Charity Run

In a charity run, sponsors donate money based on how many miles are covered by walking, running, or biking. This idea has several strong points. First, it helps a worthy cause, such as medical research or victim support. Secondly, it gets employees out of the office and helps establish interpersonal relationships. Thirdly, it’s a fantastic marketing tool that will raise your social profile. Finally, it helps promote fitness and reduce stress for your staff. Consider creating T-shirts for your staff to wear during the run and see if you can involve other organizations as well. Usual course length is a few miles or kilometers, but any length will do.

Christmas Tree Decorating

Malls, hotels, and other venues often host displays of Christmas trees during the holiday season. You might participate by having a decorating contest for teams of employees, with the winning selection submitted to the sponsor for display. Each team could be given a tree, a budget, and a few hours to acquire and apply decorations. Perhaps you’ll emphasize a theme, such as environment responsibility by allowing only recycled materials for decorations. Reward the winning team with some prize, such as free pizza. Even though there is only one winning team, everyone wins by participating in a competitive and enjoyable activity.

Scavenger Hunt

Teams of employees compete with each other to be the first to collect a list of items. A newer twist is to have each team also perform some tasks as well. A proper scavenger hunt requires a decent amount of preparation, but employees seem to love them, especially when you hand out prizes in the end. You can conduct the hunt at your office, but its more fun to pick an outdoor venue, such as a local campground. With proper preparation, this can be a hugely successful team-building activity.

Karaoke Night

Employees who would never individually go up and sing at a karaoke bar might be willing to sing in a group. You can set up teams of participants and make arrangements with your local karaoke bar to sponsor a contest. Winners should receive a fun gift, and all participants should be acknowledged.

Paintball

What better way for your staff to work off their aggressiveness than with a paintball contest. Your town probably has a nearby paintball course you can hire for the day. Organize teams of employees to compete for prizes and recognition. Paintball rewards strategic thinking, bravery, and common sense — all traits you should cultivate among your staff.

Conclusion

Team-building is well worth the expenses involved in promoting it. You can set up activities that range from modest to challenging, with negligible to substantial budgets. If you plan something elaborate that you’d like to finance with a loan, contact us at IOU Financial for a quick business loan that’s easy to repay.

6 of the Best Sales Negotiation Skills for Business Success

Sales negotiation skills are key to business success. Business owners continually encounter situations, ranging from trivial to complex, that require negotiations.

Expert sales negotiation traininghelps business owners achieve optimal results. In this training, sales course content is infused with negotiation skills development. Six sales skills for business owners to improve their sales outcomes include:

The Courage to Walk Away

Skilled business owners avoid going into discussions without options. A businessperson entering discussions should have a Best Alternative to a Negotiated Agreement (BATNA).

A BATNA is what you walk away with if you can’t reach an agreement. Understanding your BATNA gives you the confidence to reject unprofitable or low-profit deals and only make informed concessions for win-win outcomes. Confidence grows when you have a favorable fallback position and are not desperate for a deal.

In addition to coming prepared by having your BATNA, knowing your buyers’ and suppliers’ BATNAs can inform your negotiation strategy.

Effective Listening Skills

Negotiations can be highly pressured. Business owners might be itching to get their points across. However, holding the floor in discussions can lead to not paying attention to what others are saying. The dominating speaker is too busy thinking of their next point.

Just waiting for your chance to speak instead of truly listening is also considered disrespectful to others at the table. When you don’t listen, you can also miss chances to create and claim value.

When you pay close attention, you are likely to uncover details that could enrich the deal and improve the relationship. Listening is so crucial that top business negotiators write out their best questions before meetings. Questions give you control of the meeting, allowing you to steer discussions.

Documentation Skills

Sales negotiation training teaches students to put discussions and agreements in writing. It’s possible to agree to something and later forget details of the agreement.

Additionally, it’s almost inevitable to come across a dishonest person in business. Documenting terms makes it more difficult for someone to later use deceptive tactics to challenge agreements.

Other times, clients or suppliers may forget committing to an agreement. When you have agreements in writing and all participants retain a copy, the contract acts as a reminder for smooth operations and timely deliveries.

Effective Communication Skills

In business negotiations, there’s little room for miscommunication or communication breakdowns. As Lee Iacocca once said, “You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.” Similarly, if you can’t communicative effectively in business, your negotiation efforts may not amount to much.

Effective communication is key in simplifying complex information, resolving conflicts, and persuasion. Negotiation seminars often train sales professionals to hone their communication skills through role play. Strong communication skills need practice to form positive habits like being engaging and responsive.

Fortunately, communication skills can be honed. To improve your effectiveness in negotiations, you can:

  • Take time to thoroughly research and prepare before the meeting.
  • Consider enrolling in expert negotiation training.
  • Engage in negotiation simulations to rehearse and improve.
  • Conduct debriefing sessions to analyze your performance.

Problem-Solving Skills

Businesses make profits out of solving other people’s problems.

The same steps a businessperson takes to solve problems can be used to reach agreements. Problem-solving steps you can take to reach agreements include:

  • Clearly defining the problem.
  • Pursuing alternative opportunities for solving the problem.
  • Questioning the cause of the problem.
  • Identifying multiple possible solutions to the problem.
  • Prioritizing potential solutions.
  • Deciding on an acceptable solution.
  • Assigning tasks for implementing the solution.
  • Setting measures to track progress on the problem and solution.

Empathy

Empathy helps a businessperson understand others’ problems and create appropriate solutions. When you’re empathetic, you’re positioned to understand the feelings and attitudes of others, even if your own feelings differ.

Empathy forges mutual respect and develops trust. In persuasion, empathy can encourage positive social behavior. This increases the chances of creating win-win solutions. Expert sales negotiation training can:

  • Equip people to identify their own and other people’s emotions.
  • Train people to identify emotion by reading body language, tone, and non-verbal cues.
  • Train business owners to employ skillful probing without sounding interrogative.
  • Practice active listening to understand rather than interrupt.
  • Demonstrate an understanding of others’ concerns without judgment.

Sales Negotiation Skills Summary

By training in and nurturing these six key skills, business owners can create favorable outcomes. After all, business is ultimately about exchanging value for profits. If you fail at negotiations, you are more likely to fail in business. If you employ these six skills to succeed at negotiations, your business is positioned to grow consistently.

Guest Post: About the Author

Specialists in the corporate business negotiation market, The Negotiation Experts offer instructive advice on their site via articles, Q&A’s, book reviews, case studies, and negotiating definitions.

How to Optimize Your Note-Taking Process

Taking notes is a vital part of life. It allows us to focus on and remember important information that we’d otherwise forget. From meetings at the office to attending lectures or training seminars and even talking with family and friends, there are so many different occasions where you might need to take notes.

But there’s more than one way to take notes. You can use writing pens, digital note-taking apps, or try sketching out your notes if you prefer working with visual information. Learn how to optimize your note-taking process with these helpful hints.

Use a Pen and Paper

While digital devices and note-taking apps have become increasingly popular in recent years, studies show taking notes by hand is more effective when it comes to remembering important information over the long-term than taking notes on a laptop. Writing out information by hand helps us spend more time with the information at hand.

Autotype and other smart features can automate the note-taking process, which might help you save time, but you won’t retain as much information as you would if you were practicing your handwriting with a pen and paper. You’ll think about each word and letter as you write down key concepts, so you can easily recall this information down the road without having to go back over your notes.

Map Out Your Information

If you’re trying to absorb information that deals with lots of moving parts, such as a series of events or a timeline of information, try mapping out your notes. Like a diagram or flowchart, mapping out your notes helps you connect different subjects simultaneously. You can draw lines between different concepts to see how they’re related, giving you a sense of how these concepts fit together, so you can keep your eye on the bigger picture instead of getting hung up on individual terms and phrases.

This method of taking notes can be especially effective when studying history, learning new concepts, and weaving together different subjects and individuals. When you go back over your notes, you’ll quickly recognize the most important concepts without having to go through your notes line by line.

Try Sketching Your Notes

If you consider yourself a visual person, writing down hundreds of words might not be the most effective way to master new concepts. While some words may be necessary, you can also try adding drawings and sketches to your notes. This will help break up the page, but it also helps you work with and make sense of this information in new ways. Turning a concept into a drawing forces your brain to interpret this information differently. You can visualize the person, event, method, or process you’re trying to learn, so you’ll be that much more likely to remember this information down the road.

Utilize the Cornell Method

You can also try using the Cornell Method for taking notes, which means separating your notes into three distinct sections. Start by drawing a line down the left-hand side of the page about two and a half inches from the edge. Draw another line across the bottom of the page. The large section on the right-hand side of the page is for taking notes, while the left-hand side is known as the cue column. This is where you’ll add markers and comments to your notes, so you can highlight important information, ask questions, and clarify key concepts. The bottom section is for adding a summary of your notes, giving you a chance to reflect on everything you’ve learned.

The Cornell Method was coined by Cornell University, one of the most prestigious learning institutions in the world. It helps students organize new information, and each section forces these students to interact with this information in different ways. One section is for simply recording the information, the other is for annotating it, and the last is for summarization, so students are more than familiar with these concepts by the end of the lecture.

Highlight Key Terms and Headings

Staring at a long page of notes can be overwhelming for some individuals. Going through this information can be time-consuming, especially when every line looks the same. That’s why it’s helpful to break up the text by highlighting certain phrases, keywords, and concepts. You can use a highlighter, underline, or draw a circle around individual words, so you can quickly find these terms later without having to sort through your notes line by line. These concepts will stand out to you on the page, reinforcing their value in your mind over time.

Add a Summary

Adding a summary to your notes helps you revisit everything you’ve already learned that day. Thinking over these concepts a second time increases the chances that you’ll remember them later, but it also forces you to look at the bigger picture, including how this information is related and what these concepts amount to in the end.

This is also a great way to cap off a long meeting. You can organize your notes chronologically, separating meetings by the date they occurred. As human beings, we often shape events into a narrative to help us make sense of what happened in the past. Adding a summary gives you the chance to put this information to use by turning it into a story.

In Conclusion

Taking notes won’t do you much good if you can’t find the information you’re looking for or you have a hard time remembering what your notes were about in the first place. You can try revisiting this information by sketching or mapping it out, adding a summary, or using the Cornell Method.

Effective note-taking is about prioritizing important concepts and organizing your thoughts in a way that makes sense to you. Use these note-taking strategies to make the most of your time at work or in lectures, so you can master the art of learning and retaining new information.

Guest Post: About the Author

Chris Napa serves as the Global Ecommerce Experience Manager for A.T. Cross Company, LLC. Chris oversees the customer experience on Cross.com from the Providence, RI headquarters. Before joining A.T. Cross Company, LLC., Chris was the User Experience Lead at FootJoy, part of the initial team that launched their Ecommerce site in 2016, and the Ecommerce Project Manager at TaylorMade Golf Company.

4 Traits You Need in an Employee for Top Notch Content Creation

Content creators are extremely valuable because they are the link that connects your business to your target audience. Content is anything that can be used to describe your company, such as text, website content, email marketing, blogs, press releases, videos and images. This helps people understand what your company is all about, learn about your products and services, initiatives, beliefs, etc.

When you have made the decision to bring on a content creator, your first thought should be what type of person would be a good fit for this position. Content is subjective, and, as such, there’s really no “test” you can give to a prospective candidate that you can give to a bookkeeper or a computer engineer, for example. However, there are certain traits that top notch content creators possess; looking for a person with these traits will help you make a smarter hiring decision.

Teamwork

Content is typically a team effort, and the most relevant and engaging content usually involves cross collaboration between different departments. As such, the best content creator will have teamwork abilities so that they can work with marketing, advertising, PR, accounting and sales to get the most comprehensive vision of the company and the goals that the content should set out to achieve. 

This type of individual should be able to ask the right questions and actively listen to the answers. They should respect the fact that various people may have competing ideas or objectives, and work together to come up with a similar direction. Finally, they should be open to making changes to the content based on feedback from others.

Creativity

Content truly relies on creativity and being open-minded and innovative in order to construct a memorable customer experience. It’s advantageous to review the portfolio of any employee you are considering hiring to view their past projects and gauge how creative they are.

Ask about the person’s creative process, and what they use as inspiration for their work. What do they do if they have writer’s block? How do they make sure their work is unique and distinct from the competition?

The answers to these questions will give you more insight about the candidate’s preferred working style and if they would be a good fit for your team.

Communication Skills

Excellent communication skills are a must when it comes to content creation, and include oral, written and interpersonal abilities. Creativity is only one step of the puzzle, but being able to express those ideas to the right audience, formulate thoughts and create a finished product is the most important step.

This is a great topic to ask about when you are checking the employee’s references, as communication skills can easily be judged by former colleagues and employers. Ask about how the person got along with others, how they resolved conflict and how well they were able to evaluate the knowledge and receptiveness of the target audience when creating content.

Drive

There is a lot that goes into creating the best content, such as:

  • Researching the latest trends in the industry
  • Keeping up with the competition
  • Interviewing experts
  • Finding the best images
  • Learning the needs of the customer
  • Understanding audience preferences
  • Experimenting to see what works better

These qualities are truly up to the individual to learn and implement, and, as such, the right candidate should be driven, self-motivated and results-oriented. You want the person who makes it their mission to create top notch content, and will stop at nothing to get there.

The most experienced and qualified content creators do not come cheap, and you will have to make a competitive offer to bring them on your team. However, don’t let this stop you from hiring the right employee, as they will surely bring a great return on your investment. Instead, consider getting a small business loan to offset this cost. Contact IOU Financial today to learn about our easy and safe process to get you funded in as little as 48 hours.

5 Ways You Can Increase Employee Productivity

Are you the type of boss that wants to walk into an office with happy and energetic employees? Do you want to be certain that your staff members are meeting deadlines and contributing their fare share to the workload? Do you want to increase profits and take over the market share in your industry?

All of these objectives are only possible for companies that have truly productive employees. If you feel that your team can use some help in this area, utilize the 5 ways listed below.

Prevent Burnout

Employers highly rely on their highest performing employees with the most tasks as well as leading other team members. However, did you know that one in five of the top employees feel highly burnt out on the job?

Burnout leads even the most invested employees to become extremely stressed out, tired and disengaged. Although you want to make sure your staff members are working at optimal levels, it’s important to review the hours they spend in the office each week and make adjustments for extremely busy schedules.

Productivity Tools

Using technological solutions to promote productivity amongst your employees is extremely advantageous. For example, software such as Slack allows users to streamline communication through video-calling, file-sharing, direct messaging and notifications all in one platform. This saves time because one no longer needs to search in the inbox for lost emails, and all forms of communication are stored on a single channel in a message-forum format.

Performance Reviews

In order for your team members to be motivated to work hard, they need to know that management is aware of their efforts and appreciates it. Even the hardest working employee is likely to slack off if they feel that no one is watching.

Conducting regular performance reviews is an excellent way to work together with each employee to set individual and group goals, monitor performance and give your feedback. This way, the top performers will get positive feedback, encouraging them to persist in their work efforts, while others can get help and mentorship to improve in their weakest areas.

Contests

Healthy competition can do wonders to encourage even the most unproductive individual to improve. There are many ways you can create this in your corporate culture, from an employee of the month program to a simple contest specifically for each department.

Why not offer a $200 gift card to the top selling customer service rep for the month of June? Another great idea is offering a paid day off to a CPA who can file the most tax returns in a quarter.

Room for Growth

If you would like your employees to do their best for you, you must recognize and reward their efforts by helping them. A company that places a lot of value in helping their employees advance in their careers by promoting from within will have the best results in productivity improvement.

When the people that work for you know that when they work hard they will gain more responsibility and a higher paycheck, they will be more invested in their jobs.

There are many more ways that you can promote productivity in your office. The main thing to remember is to be involved in the daily operations of your company and motivate your staff.

 

Make Your Business More Efficient With These Stunning Tips

Running a profitable business is everything but simple. A study shows that more than 540 thousand new companies are launched each month, but a staggering portion (50%) of small businesses fail within two years.

It’s obviously not so easy to start a company and keep it productive in the long-term perspective, but what can you do to prevent failure and make your team more efficient? There are tons of tricks and tactics to use here, but some of them prove to be more fruitful than others.

In this post, we will show you seven ways to make your organization super successful. Let’s take a look!

1.   Determine Business Goals

As an entrepreneur, you must have some goals that you are trying to reach. The ultimate objective is, of course, revenue generation, but this should never be the one and only business goal. On the contrary, you can only achieve it if you previously fulfill all other preconditions.

What you want to achieve depends on the nature of your business, but most companies are trying to hit the following targets:

  • Traffic increase: One of the first objectives is to raise awareness by attracting more people to visit your website.
  • Customer retention: Perhaps your goal is to build a larger base of loyal consumers.
  • Improve customer service: Customer service is an important brand differentiator, which is why you should try to improve the overall level of consumer satisfaction.
  • Lead generation: A lot of companies are trying to generate verified leads.
  • Drive conversions: Finally, you want to convince prospects to convert.

2.   Customer Service

We already mentioned that customer service is a critical part of every organization – and for good reason. According to the research, more than half of consumers have stopped doing business with a company because of a poor customer service experience.

In such circumstances, you cannot afford to neglect this segment of your business. Customer service agents have to be knowledgeable and polite, answering clients’ inquiries in a timely manner. Besides that, chatbot technology made a massive breakthrough in the last few years, so we strongly recommend you to consider adding it to your customer service portfolio.

3.   Choose Marketing Channels Wisely

Small businesses should choose their marketing channels very carefully. You probably don’t have too much money to spend on brand promotion, so you better find the most productive and cost-efficient ways to tell the world about your company.

This is where digital marketing steps in to save your day. Namely, content creation costs 62% less than traditional marketing and generates about three times as many leads. The best thing about it is that you can distribute pretty much the same types of content through different channels, including social media, a website, email newsletters, and so on.

Digital marketing is amazing because it allows you to reach global audiences almost instantly, but you don’t even have to spend the budget on it. If you are able to create outstanding content week after week, you can earn higher search engine ranking organically and enjoy the privilege of forming a wide fan base.

4.   Make Use of Local SEO

Do you know that 46% of all searches on Google look for local information, while 70% of customers visit a store based on information found online? More and more users conduct “near me” searches, so you should exploit this fact to make your physical store visible online. All you have to do is create a business accounton Google and add company-related information such as address, phone number, etc.

5.   Retain the Best Employees

Products, services, software, and devices don’t make a company. On the contrary, employees are what makes your organization so valuable and you must give all you have to retain the best workers. This is not only common sense but rather a proven fact as the cost to replace a highly-trained employee can exceed 200% of their annual salary.

How can you stop your best people from leaving the company? You can try a number of different methods:

  • We all work to make a decent living, so it’s always a good idea to give your finest employees a raise.
  • You should embrace workplace flexibility and help employees to balance between personal and professional duties.
  • Another option is to provide workers with small perks such as free snacks or gym memberships.
  • Of course, building a friendly atmosphere is a great way to improve employee retention.

6.   Leverage Online Tools

No matter what you do or how well you do it, you can always find a digital tool to speed up, automate, or improve the process. This goes for almost all areas of business as you can quickly search and find different types of online assistants. From proofreadingand case study writing service all the way to virtual surveys and collaboration software, tons of incredibly useful tools are only a few clicks away from you.

7.   Analyze Achievements

We begin and end this list with your business goals. While the first part was dedicated to goal-setting, the last one is all about measuring the results of your professional activities. Key performance indicators (KPIs) must follow the goals you set because it’s the only way to determine whether you are doing the right thing or not.

As soon as you notice that something is not functioning the way you planned, you should change it or remove it completely. Of course, business analytics is not a one-time process, which means you have to do it regularly in order to maximize the productivity of your organization.

Conclusion

Small businesses depend on hard work and strategic planning, so you’ll have to invest a lot of time and efforts into making your company profitable. We can name dozens of interesting solutions on how to improve your organization, but there are only a few mechanisms that can guarantee excellent results both short- and long-term.

In this post, we presented you with seven ways to make your business more efficient. Make sure to remember our tips and let us know in comments if you have any other ideas to share with our readers – we would be glad to read it!

Guest Post: About the Author

Jacob Dillon is an editor and journalist at EssaysOnTime. The best way for Jacob to express himself is to write. Being passionate about what he does, Jacob likes to discuss stirring events as well as express his opinion about technological advancements and evolution of society. Find Jacob on Twitter and Facebook.

How to Reward Employees Without Breaking the Bank

Us humans are driven by incentive, and modern leaders understand the importance of rewarding high-performing employees. While typical ways of doing so include bonuses and pay raises, oftentimes small business owners can’t afford to reward their employees monetarily. If you are in the start-up phase of growing your business, you don’t have to forego rewarding your staff members; instead you just need to get creative in rewarding them without breaking the bank.

4 Great Ways to Reward Your Employees Without Money

Simple Recognition

If you want to make your employees feel appreciated, oftentimes all it takes is to voice your  gratitude. If one of the members of your team just turned in a well-researched project, or another one handled a customer service issue in an appropriate manner, simply acknowledging their efforts and saying thank you can be enough of a reward for your employees.

If you want to take your appreciation a step further, you can send out a departmental or company-wide email recognizing the efforts of one of the staff members. Alternatively, you can set up an “Employee of the Month Program” where you choose one employee who has gone above and beyond that month.

Although none of these initiatives will cost your company one penny, they will make your employees feel noticed and appreciated for their efforts, and will encourage others to some friendly competition for recognition.

Time with the Boss

Most bosses are incredibly busy, and don’t have a lot of individual time to dedicate to each of their team members. However, it is extremely important to your employees to spend that time with you, which will help you create a meaningful relationship and a bond that will encourage them to be loyal to your organization.

One way to reward your employees is to dedicate some one-on-one time to a different high achiever on a weekly basis. You can take this person out to lunch; but if this is not within your budget, you can simply take a walk together or even meet in your office.

Dedicating this time to your employee will show them that you care about them, their thoughts and opinions and plans for the future. Make sure to spend that time focusing on the employee; however. This can be a time for mentoring or giving valuable advice that can help them grow in their positions.

Best Parking Spot

Parking is a hot commodity in many metropolitan areas, and many employees need to pay for their own spot, park far away or forgo driving to work altogether. As a reward for a top-performing employee, why not give them the best parking spot your company has? Even if you only have one dedicated spot that you use, that could be a great incentive for your employees that will not cost you a dime.

Ask Them

If you’re not sure what is the best way to reward your employee, why don’t you ask them about what they prefer? Some may choose a paid day off, while another one may want to reassign a project that they’re not interested in on another colleague. Within reason, letting your employees choose their own rewards will make them feel valued and important.

If your employees have truly gone above and beyond and have shown how much they are committed to the team, you may consider investing in giving them financial rewards. After all, that is a way to stay competitive within your industry and keep your employees loyal to your company.

IOU Financial is dedicated to helping you with this goal. Contact us today to find out about our quick and easy small business loans of up to $500,000.

 

Is There Truth to the Morning Routines of the Successful?

Most of us have a similar morning routine— we brush our teeth, have a cup of coffee, get dressed and head out to the office. Or do we? Is there something that the ultra-successful entrepreneurs do in the morning that is vastly different from the rest of us? Do successful people have a specific morning routine that has helped them realize their goals? Read on to find out if a “success morning routine” is valid or is just a hoax.

Earlier Wake Up Times

Benjamin Spall of New York Times interviewed 300 successful people over a span of 5 years to see what they do in the morning that sets them apart from everyone else. He was not able to find a “secret formula” that led to prosperity with absolute certainty, but did did discover certain practices that successful people tended to focus on in the mornings.

The author found that the majority of the people set their alarms every morning depending on where and when they have to be. A common practice for the rest of us is to wake up as late as possible to get to work on time, but the ultra-successful have a different understanding of when they need to start their day.

He found that the average wake up time for those that he interviewed was 6:27AM, but most of the people experimented with the time that would work best for them. Give yourself a month and try waking up an hour and a half, an hour and 30 minutes before your usual time to see if you can give yourself extra time in the morning to start your day better. Perhaps, if you’re not rushing and are more prepared for your day, you will also be more successful.

Start the Day Off with a Preferred Activity

Although you may not be a morning person and hate the rush at the start of the day, successful people reinvented their mornings to better suit their needs, according to Spall. They tend to give themselves enough time to start the day with an activity that they enjoy—this can involve meditation, exercise or simply quietly reading a book.

If you begin the day was something that you enjoy, you will likely be in a better mood and better prepared to tackle the challenges of the rest of the day as well.

Have a Family Breakfast

Forbes magazine reports that the ultra-successful make time to have daily breakfast together with their loved ones. Doing so helps them distress and start the day surrounded by people that they love.

Plus, sitting down for breakfast tends to lead to healthier diet choices rather than grabbing a muffin or a breakfast sandwich on the way to work. And, nobody needs to be told about the importance of a healthy breakfast at the beginning of the day.

Create a To-Do List

It may come as no surprise that successful people know how to set and achieve their goals. A common practice for them is to create a to-do list first thing in the morning when they get to the office. This helps them to prioritize the most important tasks, and dedicate enough time to them to make sure that they are completed by deadline.

Although there’s no blueprint for an AM routine which will help you get ahead, giving yourself more time in the morning to do something that you enjoy with others that you love and setting daily goals will definitely help you become happier and more productive, which is the ultimate definition of success.

Inspired to make more changes toward success? Check out our list of FREE resources. Smart Sheets are Excel based spreadsheets that allow simple data to transform for visualized business analysis. Use these along with our Business Guides to help you run your small business like a pro!