Successful Blog

Budget Your Business Better in 2015

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abudgeterBudgeting makes the world go around, especially if you’re a business owner.

With the New Year right off and running, there’s no better time than now to get your budget on the right track.

When it comes to better budgeting for your business, here are just a few ways you can improve your financial plan for 2015:

Make and Follow a Spreadsheet

If you don’t run the numbers as the come, it could spell trouble for your budgeting endeavors. Spreadsheets are a business’s best friend, so if you haven’t already, the New Year is the perfect time to create and follow and budgeting spreadsheet.

You’ll want to make sure your spreadsheet updates are part of your daily routine, so put aside a little time each day for your budget.

If you wait until the end of the week or month to update your spreadsheet, it’ll make finding budgeting errors complicated.

Cut Costs Wherever Possible

Just because your business isn’t over budget doesn’t mean you can’t use the New Year as an opportunity to cut costs. No matter how small your budget is, there’s always room to reduce business costs.

Whether you change suppliers to reduce delivery charges or you simply use less paper in the office, every little bit counts.

If your business has unnecessary costs, chances are they’ll quickly pop up in your budget breakdown.

Assess Regularly

Having a budget is one thing, but following it is something else entirely. Assessing your budget regularly is the best way to stay on top of your business’s finances.

As the following article shows, you can keep track of your finances with a free budget template, which will take the guesswork out of the budgetary process.

Budget templates are great tools for easily tracking your daily, weekly, and monthly spending habits.

The best part is budget templates are available for all of your mobile devices, so you can check your business’s finances on the go.

Leave a Little Wiggle Room

Your business should never live above its means, which is why it’s so important to leave a little wiggle room in your budget.

You never know what’s around the corner for your business. Some extra financial cushion will ensure you don’t have budgeting issues during slow periods or when unexpected costs arise.

In terms of wiggle room, you don’t need a massive amount. A good rule of thumb is to keep 3 to 5 percent of your overall budget open each month.

If you find you don’t need that much cushion or you need to allocate those expenses elsewhere, you can adjust your wiggle room accordingly.

Set Realistic Goals

As your business bid farewell to 2014 and entered 2015, it’s important to set realistic budgetary goals.

Numbers change all the time, so keep this in mind when setting up your budget, be it for employee costs, advertising, marketing, supplies and whatever else you need to efficiently and effectively run your company.

In other words, don’t create a budget that’s so hard to follow that your business struggles just to meet its financial objectives.

If you’re ready to revamp your business’s budget for 2015, keep in mind the financial pointers above.

As a business owner, how do you stay within your budget each year?

Photo credit: Image courtesy of Stuart Miles at FreeDigitalPhotos.net

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including finance and small business.

What The Bill Cosby Scandal Has To With The Viability Of Your Business

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By Lindsey Tolino

Would the allegations against Bill Cosby be less shocking if he were a football player? Or a rich businessman? Or a playboy-type actor? Would it be less shocking if they were against Charlie Sheen or Dustin Diamond?

Yes, it would. The alleged acts wouldn’t be any less deplorable, but the shock would be less. Bill Cosby may not be guilty. However, the allegations alone are enough to incite public outrage.

shattered glass

I watched Bill Cosby as a kid and loved him. His TV show character was inherently trustable. He did Jell-O commercials with children. He wore those sweaters. His public image was a funny family man.

He never branded himself as a bad boy. He created an image of a lovable, trustable man. Though the Cosby show was fictional, Bill’s public image was largely his Mr. Huxtable character. When I read the allegations I was sickened.

I still don’t know what’s true. Regardless, I had to deal with the shattering of a character I loved and enjoyed.

Whether or not the allegations prove true, there will always be some level in which Bill Cosby has become tainted.

In fact, TV Land has already pulled Cosby show reruns and NBC stopped the development of a Bill Cosby comedy show.

Netflix delayed his comedy special.

More recently, one of his upcoming live shows in Canada is to be protested by a women’s group.

Cosby’s image is being utterly crushed under these allegations.

And so, what can we learn from the Bill Cosby scandal?

1. You can single-handedly destroy an entire entity with a counter-character action.
2. Nothing is hidden that will not come to light.

If you do something against your business branding, as a customer, I will end our relationship. There are so many other businesses out there competing for me and I want to make sure my money and loyalty goes an entity that I can trust to be consistent.

We hate even a whiff of inconsistency. We have expectations of businesses based on what they said they are about. If a business fails the expectations they’ve created, people will walk.

If your business is about serving quality food, then serve the best quality food every single day.

If your business is about fast service, then deliver the fastest service every single time.

You don’t have to be perfect at everything. You just have to consistently deliver what you said you’re all about.

There’s something else that’s bothersome about this Bill Cosby scandal – how Mr. Cosby has dealt with it so far. When someone is accused of something they didn’t do, it is expected that they would be outraged and vehemently deny it. That has not occurred, which has created chasms of doubt as to his innocence and has further degraded the perception of his character.

So how do you avoid bringing your business down?

First, know the image you’re presenting of your business.

Second, maintain the image you’ve created.

Third, if you fail at maintaining your image, bring it to light yourself, apologize and get back to who you are.

Alternatively, apologize for the lack of consistency, be honest and redirect about who you are. Don’t make maintaining money streams that are based on a facade more important than your integrity. It will catch up with you and crush your brand when it does.

You create your business entity. You decide what you will portray. However, you must maintain the character of that which you create. If you do not maintain it, you can ensure you will lose customers. There are just too many other businesses out there vying for them.

When you feel the sting of a celebrity, a business or a friend letting you down, let that be a reminder of the responsibility that you carry. You must maintain the brand you create. Consistency is vital. Your viability depends on it.

Author’s Bio: Lindsey Tolino is a young creative who helps make businesses better. She serves business owners with her words at ToBusinessOwners.com. Follow her on Twitter @LindseyTolino or connect with her on Google+.

Image info: Royalty-free image by Brano Hudak from http://www.freeimages.com/photo/1006530.

How to toot your own horn with humility

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By Diana Gomez

It’s okay to take pride in giving back to your community.

Research has suggested that volunteering and donating money to charitable causes not only increases emotional well-being, but physical health as well. And when hungry people get to eat or when a family in need gets a brand new home, why not spread the good word?

dropping a heart into donation can

In today’s online reality, it’s easy to share your rewarding volunteer experiences with your Facebook friends.

However, the lines of humility here are blurry. Does posting that you’ve donated $1,000 to the Make-A-Wish Foundation come off as sweet, or just bragging? Does anyone really want to see a photo of the three new rescued greyhounds you are fostering?

Here are four questions you should ask yourself in order to maintain your humility when sharing what you’ve been up to in the community.

1. Why am I sharing?

This is a pretty good way to initially approach any social media post. Simply ask yourself: “Why am I posting this, really?”

Here are some possible answers to this question:

  • “I want to share my experience.”
  • “I want to inspire people to do the same.”
  • “I want people to know I’m a good person.”
  • “I want people to think I’m accomplished.”

Now here’s a surprise: None of these are a bad reason to write up a post.

Whether you do it purposefully or not, social media paints a picture of you as a pared down “brand” of a person. So it’s important to realize your true motives when publicizing this simplified version of you.

If you realize that your true answer is, “I want people to think I’m a good person” and that makes you feel icky-don’t rush to post. Keep that “goodness” to yourself while you think about it a little longer. If you recognize that is your motive, and you feel okay about it-because chances are, if you donate $1,000 to cancer research, you probably are a good person-then it’s okay to share! Just keep reading.

2. What should I post?

Short text, photos, walls of text, and videos are all relevant methods for sharing your charity experiences.

Take the ALS Ice Bucket Challenge, for example. Over $100 million was raised through this viral video campaign-with much debate over the ice bucket dumpers’ humility. Detractors thought it was over-the-top and self-serving; the supporters thought it was just clever and self-deprecating enough to work. I think you can tell here that I’m trying to get you to be introspective again. What did you think of it?

Feel free to be creative with your post. Something that’s engaging for your readers, like a photo, can seem less like bragging than a straight-to-the-point status update.

3. How will people feel?

The language that you use for a post or photo caption is key.

“Just finished my 100th hour volunteering at the soup kitchen. It feels so good to give back!”

“Met a Vietnam veteran who once sang backup vocals for Elvis tonight. #100hours #soupkitchen”

“Feeling so blessed and humbled to have met so many amazing people. Message me if you want to come with next week!” (Location tag: Baltimore Food Pantry)

Again, no wrong answers! Can you spot the differences between these posts?

As the first puts focus on your own feelings, it is honest and relatable. The second is removed from the charitable aspect of the experience while still publicizing that you participate. The third puts the focus on the people you are
helping while gently inviting others to do the same.

Think critically about how your Internet-using friends will feel upon reading your post. Are you attempting to guilt or inspire?

Finally, It is important to remember that the only true way to help disadvantaged people is to empower and dignify them. How would the recipients of your good deeds feel if they saw your post?

4. Where should I post?

After you give to a cause online, there is usually a button to “Share” a boiler-plate post on your Facebook, Twitter, Tumblr, etc. This is an easy way to maintain humility, as it’s coming from a third party. You can’t help it if someone else says something nice about you!

Otherwise, you can craft your own post. Besides social media, you could blast out a mass e-mail, a private message to just a few people, or as a blog post on your website.

5. When should I share?

The most basic rule of humble charity work is to keep the publicity to a minimum. Although you may be incredibly proud of each fundraising goal you reach, it’s good to keep these tips in mind before posting about it every single day.

Just because you do something altruistic doesn’t mean you have to keep it to yourself. Posting with care can inspire others to give back as well-and that’s the “share” that keeps on sharing.

Author’s Bio: Diana Gomez is the Marketing Coordinator at Lyoness America, where she is instrumental in the implementation of content marketing strategies for USA and Canada. Lyoness is an international shopping community and loyalty rewards program, where businesses and consumers benefit with free membership and money back with every purchase.

How to do 2015

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Happy New Year!

crystal clear beach day

This is not a roundup, best-of, lessons-learned post.

This is not about setting goals, making resolutions, or dieting.

This is just a simple reminder that there’s nothing magic about January 1.

So yes, come out of the gates today full of hope and energy, full of plans and fresh ideas.

And on March 13 or so, or when that starts to flag, remind yourself that any old day can be January 1. Get back up on the horse, go back and re-read your goals, dream board, marketing plan, business strategy, all the things you wrote on January 1.

Heck, it could even be next Wednesday.

The most successful people are the ones who can create their own January 1 whenever they need it.

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for Social Strata — makers of the Hoop.la community platform. Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Tech Products Make for Better Business

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Technology is making the business world a better place, which translates to better business for companies and consumers.

Whether your business needs a little tech boost or some on the go gadgets for traveling employees, there are plenty of options to choose from.

With a tech-fueled business in mind, here are just a few ways tech products make your business better:

Tablets for Employees on the Floor

Most customers who are on a shopping mission like to find what they want, purchase it, and move on with their day. This means your sales team needs to have your business’s entire inventory in the palm of their hands.

The solution: tablets.

That’s right, tablets are becoming increasingly popular for employees who need to look up prices, search in-stock items, and locate specific items within your store.

Even if your business doesn’t deal in retail, tablets are a great way to keep all the employees in your office connected. Whether on lunch break, in a meeting, or across the hall, tablets allow your employees to take their work with them on the go.

Anywhere Payments

Technology is also improving the payment process for many businesses.

Mobile card swipes connected to smartphones and tablets allow your business to accept credit card payments from anywhere. This not only boosts sales, it also makes shopping more convenient for your customers.

Employee Mobility

If your employees take advantage of telecommuting, then technology can help your remote employees stay better connected to your business. The same goes with employees who travel to clients throughout the day.

From employees who make service calls to employees who work from home a few days a week, major retailers like Walmart carry a full line of smartphones like the Samsung Galaxy 5 that will improve your business’s telecommuting atmosphere.

Technology and Customer Service

It’s no surprise that technology is improving the customer service sector for businesses of all kinds.

For example, call-waiting technology is making the calling process more customer-friendly and less frustrating.

Call waiting services used to simply ask callers to wait on the line until a representative could take their call.

With intuitive call waiting, your business’s call waiting service can actually give customers updates on how many minutes they have left to wait for a representative.

In addition, improved call-waiting technology can actually give your customers the option to have a representative call them back in a timely manner. Intuitive call waiting is just one way technology makes life better for your customers and your business.

Business Apps

Computer technology is improving the business world by digital leaps and bounds.

Such is the case with mobile apps that put your business in the spotlight. With a mobile app specifically designed for your business, you can keep your customers informed on your products and services, send shipping and package notifications, and accept payments for online merchandise.

If you’re looking for ways to improve your business in 2015, the technology above is sure to make a positive impact.

Photo credit: Image courtesy of stockimages at FreeDigitalPhotos.net

About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including technology and small business.

How to use online reviews to boost your business

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By Diana Gomez

For small businesses, the world of online reviews can be a scary place – and that’s understandable.

I have friends who cringe as they open their company’s Yelp page, afraid of any negativity they’ll have to face regarding their beloved business. However, what you’ll often find is more compliments than you expected, plus you’ll discover ways to make the reviews help and grow your business.

So you see, reviews can be good for you, no matter how bad they are.

feedback notebook

Here’s what you can take from your online reviews: the good, the bad, and the ugly. Reviews can:

Provide Credibility

People trust reviews. In fact, an online, unbiased review is more trustworthy than a personal recommendation. And believe it or not, readers are often more trusting of a place with both negative and positive reviews rather than one-sided views.

Create Awareness

Building customer awareness is a great advantage of online reviews. At no cost, sites like Yelp and Google Places let customers brag about you to the world. It’s also a platform for current customers to engage with one another with suggestions that could lead to more product purchases.

Give Free Feedback

Occasionally, you’ll have to face the fact that no one, even your business, is perfect. It may be your favorite employee who has caused a customer to take to Yelp and unleash a tirade about their bad experience. But look at it this way: rather than having secret shoppers rate their experience to you, you’ve got regular people doing this – for free. Say two customers in a day complained about a restaurant hostess and her bad attitude. You can make that right. Same goes for any complaint.

Benefit Buying Choices

Knowing what is really working for your business can help navigate you in the market. A negative comment can help tell you what people don’t love as much, just as a positive review can tell you what people want more of.

Improve SEO

If content is king in today’s online world, then reviews should be welcomed by businesses. Google does take reviews into account when ranking, so whether they’re positive or negative, they’re doing you good in the search engines’ eyes. Merely showing that people are actively engaging in your business is proof enough that you’re relevant, and this can only help your ranking.

What should you do if the reviews are negative?

Take care of business – and fast.

Immediately address it online. Ignoring customers’ comments makes it look like you just don’t care. And letting the situation sit and simmer doesn’t help matters either. Address it as quickly as possible for the best possible outcome, and show that you and your company are considerate and well-mannered. Showing that you’re classy will raise people’s opinion of you, which can only be good for the business in the end.

Apologize.

Apologize for their bad experience, and assure them that you’re addressing it appropriately. If it’s super negative with a ton of details, try sending a private message as well. This adds an extra personal touch. Request that they try your product or services again, and once they do, ask if they’ll remove or update the review to reflect their latest, and hopefully positive, experience. If the situation can’t be resolved, be sure to publicly comment on all the steps you followed to address the issue and ensure it won’t happen again.

Fix it.

Don’t just say you’ll remedy it – do it! It’s one thing to get a couple of bad comments on one employee in one day (bad day?), but if a mountain of negativity piles up regarding one person or one particular product, you’ve got some work to do. A large amount of customers can’t be wrong. In this situation, you can actually thank the complainer for helping you maintain a business that satisfies.

Solicit good reviews.

Though a negative review can be beneficial, it can do much harm if it’s your only review. That’s why you have to do your part in gathering good ones by asking your best customers to review you. And yes, that one negative comment will then look far more credible than a business with nothing but rave reviews.

What if the reviews are positive?

Say thanks.

Of course positive reviews can help you out tremendously. Thank the person who’s taken the time to compliment you. Then use their comments to your advantage. Reviews can confirm what you’re doing right and help you look at say, menu items that no one seems to mention at all.

What negative review, in-house or online, helped your business recently? Please share your experiences in the comments!

Author’s Bio: Diana Gomez is the Marketing Coordinator at Lyoness America, where she is instrumental in the implementation of content marketing strategies for USA and Canada. Lyoness is an international shopping community and loyalty rewards program, where businesses and consumers benefit with free membership and money back with every purchase.