Successful Blog

The Reason My Small Business Needs a Presence at Trade Shows

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Everybody wins when companies have the opportunity to interact directly with buyers, which is exactly why trade shows are so beneficial.

In terms of a buying and selling market, nowhere are business connection opportunities and company publicity as prevalent as with large, industry-wide trade shows.

So, in terms of benefits, why should your business have a presence at trade shows in today’s market?

Product Testing

Trade shows are a testing ground for new products that result in instant consumer feedback.

What this means for your business is, if you’re still trying to get a product line off the ground, trade shows offer a platform to put that product on a small-scale market, see how it performs, and receive reviews in real-time.

Market Access

Whether a seller or a buyer, trade shows offer a unique way for businesses to gain access to a market they otherwise wouldn’t have the ability to tap.

In other words, vendors with limited market access due to distance or company size are able to use trade shows as a one-stop shop for getting their voices heard and products seen.

Publicity Costs

Small businesses simply don’t turn into large companies without large-scale publicity. And, although trade shows aren’t necessarily large-scale events, they’re a launching point for businesses both large and small.

So, for those companies without the means to market, advertise, and publicize on a national scale, trade shows are essentially a marketing shortcut. As long as the products are worthy of attention, trade shows are a great way to create industry-wide buzz.

Attaining Market Knowledge

Because trade shows are a stomping ground for like-minded businesses, simply attending an industry trade show will help your business gain essential knowledge in terms of product trends, sales techniques, and the future of the industry.

Your business should consider trade shows as a marketing crash course and go into the event with an open mind and willingness to learn.

Even if you leave the trade show without selling a single product, the market and industry knowledge gathered is worth its weight in gold.

Time Saving Factor

With trade shows, the time-consuming process of setting individual appointments is almost non-existent.

Because trade shows are a one-stop shop, your business has the ability to meet with potential buyers on a continuous basis throughout the length of the event without the inconvenience of scheduling times and locations.

Lower Costs

When multiple buyers and sellers interact continuously from one location, it saves both parties a lot of money. And, as opposed to approaching buyers one-on-one, your business can market by group, which is a popular trade show mentality.

Not only that, but the main reason buyers attend trade shows in the first place is to buy, so they’re already in the right mindset when they arrive.

So, when your business decides to make an appearance at trade shows, it’s beneficial for everyone involved.

As a business owner, what have your experiences at trade shows been like?

Photo credit: tucsonexpocenter.com

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including personal health, how to be first on Google, and business.

How Do I Keep My Employees Healthy?

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As a business owner, it is your responsibility to keep your employees motivated and productive throughout the day.

Part of this is helping them become healthier, physically and mentally. People who are living healthy lives tend to have more motivation to do a great job.

So by introducing healthier food options or wellness programs in the workplace, you’re not just helping your employees, but you’re helping your company’s success as well.

That said, what are you doing to help keep your employees fit and productive?

Provide Healthy Foods

Start by introducing healthier foods around the office.

If all you have in your office is coffee, donuts and vending machines filled with snacks and sweets, then that is all your employees typically have during the day.

A good majority of people are not going to bring their own lunches and instead go out to eat. So on the days when they don’t feel like going out or are hungry for a late morning snack, they head straight to the break room.

One way to improve their physical health is by offering healthy items instead of things like donuts and bagels. Have fresh fruit set out for employees, and stock the break room with snacks like yogurt, granola bars or even whole grain bagels with fat-free cream cheese. Put more healthy options in your vending machines as well.

Introduce a Wellness Program

Wellness programs have been very successful for companies who choose to utilize them.

A wellness program can include anything you like, such as on-site classes in yoga, Pilates or even CrossFit.

You can have someone offering stress-relief services for the wellness programs as well, such as massage therapy or acupuncture. This can become part of an employee’s signing bonus and benefits program. It helps your company by offering more benefits and being able to retain your employees, as well as getting more productive and motivated workers in return.

Offer Fitness Center Memberships

If you have a gym on-site, great! But even if you don’t have one, you can still encourage the use of fitness centers by offering memberships or discounts to local gyms.

Contact fitness centers in your area and see if they will offer discounts if you send your employees to their gym. Employees get a cheap gym membership and the gym get a good deal more business, so it works great for everyone.

Encourage On-Site Fitness

There are also ways to encourage physical activity in the workplace.

Start having stretches a couple times a day where you have everyone stand from their desks and perform stretches. This is going to help prevent injury from repetitive motion, such as doing stretches for the hands, wrists, arms, shoulders and back.

You can also give an extra 5 or 10-minute break to employees who want to take a walk around the building for some fresh air and exercise.

Your employee’s health should be important because it keeps them working every day and improves their productivity.

Another thing to note is that you should be offering them help for mental and emotional health through their benefits package.

Photo credit: healthline.com

About the Author: Tina Samuels writes on social media, healthcare recruitment, small business, and social media.

How Can Webinars Help My Small Business?

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If webinar is a term that you’re not exactly up to speed on, a webinar is a live seminar or conference that is held over the Internet.

That being said, it is becoming an increasingly preferred marketing tool among small businesses, because it provides many benefits over a traditional seminar.

Here are a number of reasons why you should consider conducting a webinar for your company:

Cost-Effective and Hassle-Free

A webinar is a lot more cost-effective than a traditional seminar, because it does not require you to rent a convention hall and incur traveling expenses.

All you need to do is get web conferencing software and hire speakers, who can choose to speak from their home, office or any other place.

Also, organizing a traditional seminar entails considerable planning and effort. You need to make a lot of practical arrangements, ranging from organizing seating to catering if you are offering refreshments.

A webinar, on the other hand, can be conducted by just setting up a web conferencing system.

Promote Your Products to a Worldwide Audience

A webinar is not only easier to conduct; it is also more convenient to attend.

People from around the world can attend your webinar without having to travel to a specific location. As such, a webinar can potentially reach a much wider audience than a traditional seminar.

You can introduce and demonstrate your products to your viewers via screen sharing and encourage them to ask questions or visit a purchase page at the end of the webinar.

Establish and Maintain a Closer Relationship with Customers

In order to gain the trust of your customers, you need to add a personal touch to the way you communicate with them.

A webinar enables your customers to see and hear you talk about your company and products, giving them the assurance that you are a human being and not just a website.

There are many kinds of webinars that you can hold to build a closer relationship with your customers, including press release updates, online meetings and client training sessions.

Get More Business Contacts

Similar to a traditional seminar, a webinar is a great way to make new business contacts and enhance your brand identity.

The attendees can show their names and headshots, and interact with the speakers and you during or after the webinar. This helps build credibility and establish a more genuine connection between the audience and your company.

Position Your Company as an Authority in Your Niche

Conducting a webinar can also help you stand out from your competitors.

By providing helpful and expert information through a webinar, you will gain a reputation as an authority in your niche. As your reputation spreads, more and more people will come to you when they need information or advice that is related to your field.

A webinar provides an engaging and effective way for you to promote your small business to a large group of people from all over the world.

When it is used correctly, it can be an invaluable tool for ensuring business growth and success.

Photo credit: educationcloset.com

About the author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from online marketing to biographies of entrepreneurs such as Steve Wynn, David Kiger and others.

Can My Business Survive Negative Press?

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A negative news story or bad review — in print or online — is almost inevitably a cause for alarm in a business owner’s life. Bad PR, whether justified or not, can cut into a company’s sales volume and ultimately tip the balance from profit to loss.

Although it’s hard not to panic when confronted with bad press, business owners should guard against that reaction at all costs.

Panic will do nothing to address the matter and could keep the company from taking timely steps to reverse or undo the damage from the negative publicity.

So, what are the steps to undertake when this situation occurs? Among them:

Evaluate Report

The first step must be a careful evaluation of the news story or online posting that is the cause for concern.

Is the report accurate? Does it make valid points about a product’s failings? A restaurant’s service?

Or is it a malicious — and unfounded — attack on the business? No matter what the report’s origins, steps can be taken to undo the damage. It may take time, however.

Although lashing out in anger may very well be the business owner’s knee-jerk reaction to bad press, this is almost certain to appear defensive and may only exacerbate the public relations nightmare that bad press can cause.

Although it’s essential to cool down before responding to bad press, a timely response is essential. It’s unwise to let too much time elapse before making a reasoned response, preferably in the same medium in which the negative report first appeared.

Own Up to It

Hopefully, a careful analysis of the negative report has determined whether it is justified or not.

If the criticism implicit in the report is valid, then the business owner must take responsibility for the product’s flaw and pledge to correct the problem before the product returns to the market. Owning up to a company’s failings and pledging to make things right tends to humanize the business and create a more favorable impression on the public.

In the event, however, the report is inaccurate, the business’s response should contain a calm and rational defense of the product or service in question.

If a news story is the source of the bad press, an attack on the reporter is senseless and, once again, comes off as uncomfortably defensive.

Reporters are human too and sometimes make mistakes, including failing to solicit comments from the subject of a negative story before the article is printed.

Gray Areas Exist

Not every instance of bad press can be subjected to a definitive analysis of right or wrong.

A restaurant review that suggests bad service or under-cooked food on the night the restaurant critic visited is virtually impossible to refute.

In a case such as that, the restaurant owner is probably best served by acknowledging that lapses in service and quality occasionally occur and by promising to do everything possible to avoid them in the future. Getting into a war of words with a restaurant critic only tends to call greater attention to the original negative review.

To help bolster a business’s ability to withstand negative publicity, business owners should work tirelessly to strengthen the power of their brands.

If the brand of a product or service strikes a strong positive vibe in the minds of consumers, it is better able to survive an instance — or prolonged assault — of bad press.

Solid Brands Weather Storms

Toyota, Ford, Tylenol, and countless others have been subjected to long-running struggles with negative publicity, some of it justified and some not, but so powerful were those brands that they emerged pretty much intact, if a bit battered.

It is, of course, unrealistic to expect small business owners that operate locally or regionally to attain a brand recognition comparable to these multinational giants. But consistent product and service excellence can establish a strong brand, if only in a somewhat smaller marketplace.

And a strong brand helps a company to survive negative publicity with little, if any, lasting damage.

Photo credit: zdnet.com

About the Author: Jay Fremont is a freelance author who has written extensively about personal finance, corporate strategy, and Amerisave.

Am I Missing Any Tax Breaks?

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If you run a small business, you know that every dollar really does count.

Whether you’re just getting off the ground or your business has an established track record, it’s still helpful to save money whenever possible.

Tax deductions are one area where a little knowledge can go a long way. The more breaks you’re aware of, the more opportunities you’ll see for your business to save money.

To give you an idea of what types of savings are available, let’s go over some of the most commonly overlooked small business tax deductions:

Bad Debts

One of the biggest surprises many new business owners have is just how hard it can be to collect money from certain clients or customers. This issue is especially prevalent among service businesses.

Even though it’s very frustrating to have clients who simply won’t pay what they owe you, the silver lining is bad debts can generally be deducted when you file for your business.

Mileage

Whether it’s driving to a meeting, attending a networking event or going to see a client, you’re allowed to deduct mileage that’s used for work purposes.

Just be sure that whenever you want to deduct mileage, you log the date and where you’re going, as well as the mileage at the beginning and end of your trip.

Charitable Donations

You may already be aware that eligible donations you make to charity can be deducted.

But what plenty of business owners don’t realize is it’s often more advantageous to make deductible donations through their business than from their personal money.

Cloud-Based Software

More and more software is moving to the Cloud.

The main advantage for customers is it allows them to access their software from any computer with an Internet connection. And one of the primary advantages for software developers is whenever there’s a bug, they can instantly push out a fix.

Because they provide ongoing service, many cloud software developers charge on a monthly basis. If you have one or more cloud software subscriptions, be sure to deduct all your monthly charges.

Business Trip Incidentals

Landline calls, lodging taxes, cleaning and laundry are all examples of acceptable incidentals from business trips that you can deduct.

And as long as you keep a log, you can also deduct train, subway, bus and taxi fares.

Loan Interest

If you borrow money against a personal loan like your mortgage in order to buy equipment for your business, you can deduct the interest on your loan.

The two most important things to remember about this break are that you need to use the money for your business, and you also need to document exactly how you used it.

As you can see, there are plenty of tax deductions available for small businesses. The key is keeping track of all of them.

By making it a priority to keep current and detailed records throughout the entire year, you’ll be able to maximize your deductions when the time comes to actually file your taxes.

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About the Author: Jesse Galt is a freelancer who writes about a wide range of topics, including mobile credit card processing and small business marketing strategies.

Is It Time for a Business Partner?

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If you are a sole proprietor, there may come a time when you begin to wonder if it is a good idea to take on a business partner.

Getting a business partner can bring many changes, and you have to be prepared to adapt to a whole new way of running your business. It is important to make sure that your new business partner will contribute positively to the growth and success of your company.

So, when is the right time to bring on a small business partner?

You are unable to solely manage business growth

 While a growing business can bring more profits, it also requires you to invest more time and effort.

If you are running your business all by yourself, you probably have to oversee every aspect of your business and do all the decision-making yourself. Even if you are a very capable business person, there may come a point when you will not be able to cope with the growth.

Taking on a business partner is a good way to manage growth, because it enables you to share your management responsibilities with someone who truly wants your business to succeed.

A partner who has extensive knowledge and experience in certain aspects of management can be an invaluable addition to your business. He or she can also help ease your decision-making burden and contribute new business ideas.

You need to team up with another business to compete with the big players

If your ambition is to become one of the major players in your industry, joining forces with another company can help you reach your goal.

Partnering with another company can be beneficial in many ways. It enables you to obtain additional expertise and knowledge of your industry, increase specialization, access valuable assets and funds for new development, reduce costs and expand your market share. With a greater market share, you will have a more significant influence on market trends.

Your business is on the verge of closing

Getting a business partner does not only help you manage and stimulate growth; it can also be an effective defensive business strategy. If your business is in serious trouble, it may be better to form a partnership with a strong company than to close it down.

A business partner can provide the necessary expertise and resources to get your business back on its feet. However, one disadvantage of entering into this kind of partnership is that you will have less control over your business.

If you want to gain back full control of your business later on, you can make an agreement with your partner to end the partnership on a certain date.

Taking on a partner can be a great business move if you do it at the right time.

To ensure that the partnership will be harmonious and successful, it is essential that you select an individual or company that has the same vision and values as you.

Photo credit: kclink.com

About the Author: John McMalcolm is a freelance writer who writes on a wide range of business topics, from small business management to biographies of famous entrepreneurs such as Richard Branson, Mark Cuban and Steve Wynn.