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Take Credit for Properly Running Your Business

February 10, 2017 by Thomas Leave a Comment

In today’s business world, it is imperative that business owners have their eyes on the prize when it comes to finances.

That said you may find yourself at times scratching your head as to why your revenue stream is stuck in neutral or even going in reverse.

One of the ways to make sure your finances are not in the red on a regular basis is properly accounting for all of your expenses. In making sure customers pay their bills on time, you need to be a financial wizard.

When it comes to customers paying you in a timely manner, this typically involves two scenarios.

Many customers will pay you at the time of the business transaction, while others will be billed for your services and/or products. Either way; making sure you’re not running a deficit is crucial.

So, can you definitely take credit for properly running your business?

Avoid Piling up Various Expenses

In order to keep your business financially solvent, keep in mind the following pointers:

Timely payments – First and foremost, make sure customers are paying you in a timely manner. While the majority of people doing business with you will be on the up-and-up, some will try and work things to their advantage. If you end up invoicing them for services or products (see more below), some may delay paying you for a variety of reasons. Some of these reasons can include that they never intended to pay you in the first place, they didn’t leave the proper forwarding address for the invoice, and they are behind on other bills and you’ve been dropped to the bottom of the priority list. No matter the reason, you’re now left without a payment, meaning you have less money coming in for your own business and personal expenses;
Disputed payments – Another matter that oftentimes arises for many business owners is the issue of disputed payments. In such cases, the customer will dispute the charges for the products and/or services you charged them for. By doing so, they reach out to their credit card issuer and ask for a stop payment, leaving you once again in a situation where you are a put in a financial hole until the matter is ultimately decided. In order for you to go about preventing chargebacks, there are options available to you. Most notably, you can use a chargeback management program, one where your payments are in fact protected. Not only does this mean that you will get paid for the goods or services you provided, but you can oftentimes avoid costly fees, not to mention wasting your time following up on such problems. Keep in mind that a number of credit card processors will grant you a handful of chargebacks each month without a fee, though you should definitely know ahead of time which ones operate like that. At the end of the day, chargebacks can have quite the negative impact on your business, so don’t brush them off.

Are You Billing Customers on Time?

Invoicing Payments Due – Lastly, another crucial factor to help you take credit for properly running a business is making sure you are invoicing customers who do not pay you immediately for purchases and/or services. For example, if you have a set date each month when it comes to invoicing, don’t skip it. Yes, it can be easy to miss that date when you become overwhelmed with work responsibilities, but stop for a moment and think about the negative repercussions to doing so. Your invoices get sent out late, the customer receives them later than normal, and you end up scurrying to pay business and personal bills. If you find yourself getting too busy to handle the regular invoicing needs, consider hiring a part-time assistant to oversee that need. No matter what it takes, stick with a consistent invoicing schedule. Doing so not only allows you to get paid on time, but it lessens chances customers will forget to pay and/or possibly dispute paying you in the first place.

If you can’t take credit for properly running your business at this time, then you obviously have some work ahead of you.

For your business and personal well-being, never overlook the importance of being a financial wizard.

As a current business owner, how do you go about handling financial disputes with customers?

Photo credit: Pixabay

About the Author: Dave Thomas covers business topics on the web.

Give Customers the Best Mobile Experience Possible

January 6, 2017 by Thomas 1 Comment

How much mobility would you say your business has as the New Year unfolds?

While many businesses are on top of their mobile games, others are woefully dragging behind. For those in the latter group, missed opportunities to connect with consumers and bring in more revenue are but two of the pitfalls of such inaction.

Assuming you do not want to end up in that latter group, it is important that you do all you can to have a sound mobile app presence. When you do, there are many more opportunities to grow your brand and be seen as a leader in your respective niche.

So, are you prepared to give customers the best mobile experience possible?

Being a Frontrunner in Mobile Apps and Marketing

In order for your brand to get as much positive promotions and feedback as possible, being a major player with mobile apps services is important.

With your mobile game in play, you should focus on:

Marketing – Having a mobile app in play for your business gives you the opportunity to expand your marketing promotions like never before. Take into account the fact that millions of consumers use their respective mobile devices on a daily basis. As a result, you can literally reach out to them anytime and anywhere. For example, do you have a new special promotion you’d like them to know about? If so, simply sending the message out via your mobile app is a great start. You may decide to throw in a digital coupon offer that saves them money on their purchases. Whatever your promotion is, make sure your mobile marketing messages spell it out loud and clearly;
Appearance – Even if you have some of the best products and/or services you want the world to know about, how you put that message out there is important. Keep in mind that mobile devices give you less of a screen view than a regular laptop or desktop computer. As such, if your message doesn’t properly fit on the screen of a mobile device, not only can your brand look unprofessional, but you may not get your entire message out there. Be sure that the design is what you want it to be, giving customers the best user experience possible when viewing your message;
Feedback – Finally, expect and accept the consumer feedback you receive regarding your mobile app. Yes, some of it may be critical at times, but take those opportunities as a chance to improve the user experience for consumers. Without ever knowing what they like and do not like, how can you expect to come up with the perfect mobile app? Without duplicating their efforts, also take some time to see how competitors are using their mobile apps to build business. By seeing what kind of feedback they receive from consumers, it will give you a few ideas of what to do and not to do with yours.

Don’t Shortcut Your Brand on Mobility

Lastly, mobile apps are not going anywhere anytime soon, so educate you and your staff on how important they are in growing your brand.

As important as using your mobile app for sales is, don’t forget other options for your app.

For starters, load your app up with relevant content and videos.

When it comes to content, you can provide articles not only talking about your products and services, but what your overall industry is doing.

For example, if you’re a Realtor with a mobile app for business, articles on trends in the real estate market would be quite worthwhile to those individuals and families looking to buy or sell properties. You can (and should) also add videos to the app, something that is usually a sure winner with consumers. By showcasing different properties on your app, potential buyers and sellers can look at different homes and/or condos right in the palm of their hands.

It is safe to say that mobility within your business is important now and will continue so down the road.

When you give customers the best mobile experience possible, they are apt to keep coming back.

Photo credit: Pixabay

About the Author: Dave Thomas covers business topics on the web.

Is Your Business as Productive as It Should Be?

November 25, 2016 by Thomas Leave a Comment

If your business isn’t as productive as it should be, can you put your finger on the reason or reasons why?

For too many business owners, that problem is one that can ultimately cost them more than just money. It can ultimately lead to hanging a closed sign on the front door permanently.

So, how productive would you say your business is these days?

Being productive doesn’t just mean churning out products and/or services.

It also means giving your customers the best service possible, putting your employees in position to succeed, and showing investors (if applicable) why they should continue to support you (not to mention invest in you).

With that being the case, how productive is your business as you take it into 2017?

Business Productivity Comes in All Shapes and Sizes

In order for your business to keep productivity as a main staple, keep these pointers in mind:

Customer service – First and foremost, is your customer service as strong as it should be? Even if your products and/or services are top-notch, you can’t overlook the importance of customer service. When it comes to customer service, you have to always be better than your nearest competition. Keep in mind that customers today typically have numerous options when it comes to shopping; so many times you are not the only game in town. In order for you to stand out from the crowded field, your customer service efforts must resonate with customers. Go above and beyond the simple customer service initiatives, allowing you and your brand to grab and keep their attention;
Employee tools – Unless you are running a one-person show, you rely on your employees’ day in and day out to deliver for you. As such, it is imperative that they have all the resources necessary to be successful. From the latest in technology to educating them on how best to market and network in and out of your business, give them what they need. If that means taking a little extra time to find the best tools and/or spend a little more in money, certainly consider doing it. Whether their needs involve audio dictation for your business or countless other necessities that make time management more effective (see more below), give your workers as much assistance as they require. Remember, the goal when all is said and done is to give your customers more for less. When you allow your employees to get more done in a shorter amount of time, it is a win-win for both you and those doing business with you.

Time Management Can’t Be Overlooked

Time management – When it comes to running a productive business, time management is a huge factor. Stop for a moment to think about you and your customer needs when you play the role of consumer. The last thing you want is to be kept waiting for products and/or services. When left to do so, you might simply walk away, never to come back to that business ever again. The same oftentimes holds true for those consumers doing business with you. Most consumers expect to be waited on in a timely manner, along with that time being used wisely. If your time management efforts are coming up a little short, work on improving them sooner rather than later;
Customer feedback – Finally, do you truly listen to your customers? If the answer is yes, that is definitely something to be proud of. Unfortunately, too many businesses turn a deaf ear to those they are supposed to be taking care of. As a result, they can oftentimes end up losing those customers after a short period of time. Make sure you try and answer your customers’ questions whenever and wherever possible. If this means doing occasional surveys, do just that. In many cases, providing a little incentive (discounts etc. on products and/or services) will prod customers to take a few minutes to answer your questions.

When all is said and done, business productivity is essential to your company’s success.

Stop and see if you’re truly being as productive as possible as a business.

Photo credit: Pixabay

About the Author: Dave Thomas covers business topics on the web.

Have You Truly Secured Your Business?

September 30, 2016 by Thomas Leave a Comment

Whether you run a business out of an office space that you rent or own or direct your business from home, you know (at least you should) how important security is.

While cyber-attacks have gotten many of the headlines in recent years, physical break-ins are still as prevalent as ever. If this happens to you, it could turn your business upside down, leaving you in quite a precarious position moving forward.

With that being the case, what are you doing to make sure your business is as physically secure as possible?

From having it properly alarmed to making sure employees (and you for that matter) don’t leave an open invitation for criminals to break-in, you do have a lot of the say in whether or not you become a crime victim.

So, when you take time at the end of the day to think about it, have you truly secured your business?

Stay a Step Ahead of Criminals

In order to best protect your business (in an office or from home), remember these pointers:

Security packages – Perhaps your best line of defense is looking into protection security packages. With such packages protecting a home office or a building where you work out of, you have a much lesser chance of being broken into. Before buying such a package, be sure to do some searching online, along with asking others you know as to which company they put their trust in. One of the first things you want to know about a security company is how long they’ve been in business. A company with a track record of securing both home and business sites is one that should certainly get your attention. Also look into their customer service dealings, making sure they have the best interests of their customers in mind at all times. Finally, while nothing is essentially free in this day and age (other than advice), be sure that you understand all the costs, avoiding any hidden fees etc.
Not asking for trouble – Criminals have minds all their own, some better than others that is. In protecting your business, don’t leave the door open (literally) for them to come in and steal from you. For instance, if you have an office place in a building or even at home for that matter, you may have customers come to visit to purchase products or services, meet with you for appointments, pay you money for work you did for them etc. As a result, make sure you (or a secretary or other employee) doesn’t let people in to wander around until you get to them. It just takes a minute’s time for someone to steal property (including money) from you and your business;
Don’t announce you’re out of town – Another gaffe that business owners need to avoid is announcing to the world that they are out of town for a period of time. This is especially a problem in today’s world given the millions and millions of people using social media. For instance, if you are operating a company out of your home, one where you would typically have a fair amount of money sitting around for when clients come-and-go to do business with you, don’t then go on social media and tell the world that you are closed and out of town for a week’s vacation. If you work out of an office building and close down for a week or so, be sure all is secure before the lights are turned off and the doors locked until you return for business. Lastly, since there is the possibility you will have a cleaning person and/or crews coming in on occasion to clean your office, make sure their credentials are thoroughly reviewed before hiring them.

No matter what part of the country you are in, your business can prove quite vulnerable, be it in an office building or running it from your home.

Do your best to truly secure your business, keeping criminals on the outside looking in at all times.

In return, you will feel more secure at the end of each and every work day.

Photo credit: BigStockPhoto.com

About the Author: Dave Thomas covers business topics on the web.

Putting the Internet to Work for You

September 21, 2016 by Thomas 1 Comment

In today’s Internet-driven world, it should not come as a major surprise that both businesses and consumers rely on it far more than most people might come to expect.

For instance, businesses use the worldwide web to promote their products and services on a daily basis. While companies still use what might be regarded as “old-fashioned” methods of brand promotions (newspapers, radio and TV ads, business cards etc.), the Internet has become the go-to source for countless businesses.

Flip that over and look at how consumers are using the Internet.

Millions of them turn to the web when they want to do some browsing and shopping, not to mention oftentimes ultimately buying goods and services online.

In the event you need the Internet as a business owner or as a consumer, turn it on and let it go to work for you today.

Consumers Plugged in to Internet

For countless consumers, it is nothing short of a no-brainier that they use the worldwide web to research myriad of items.

Whether that inquiry involves looking for real estate, a new vehicle, a license plate search, healthcare options, home improvements, the list is literally endless.

In doing a search, consumers want to be able to come to company websites that are full of information and low on fluff. Consumers also want websites that are easy to maneuver around, not filled with broken links, pages that load slowly and/or crash regularly, and provide contact information or a FAQ section that is easy to find and understand.

With that information in mind, how can your business best display its website offerings, increasing the odds that consumers will find your brand’s site to be one they trust and come back to time and time again?

Investing in Your Brand

For starters, review your website on a regular basis? Why is that?

First you want to make sure you have all the necessary information required to put your brand in the best possible spot available.

If your site looks like a junkyard, full of broken links and pages that simply have no rhyme or reason to them can you really expect consumers to want to visit them time and time again?

Secondly, what does your brand say about you as a business owner if your website is not up to par with your competition?

For one, it makes many consumers think that you have not invested a lot of time or money for that matter into it. Now, what if they get the same perception (rightly or wrongly) about how you would go about investing time in them too?

Remember that mention a moment ago about making it easy for consumers to contact you?

That should always be a top priority of putting together a first-rate website for your brand.

One of the areas where this can become a major stumbling block is if you also have an online store up and running.

Let’s say a customer is in the process of ordering something, and then the site crashes or freezes at that point. In many cases, customers will not give you a third or fourth try in an attempt to complete a sale. If it doesn’t work the first, perhaps the second time around, most will move on and find the product or service they need through one of your competitors. Now, imagine if you would have just sunk a little more time and effort into your website?

Lastly, do your best to promote your website as often as possible.

One of the ways to go about this is via social media, something far too many businesses simply do not take advantage of.

Be active on a variety of sites, notably those such as Facebook, Twitter, LinkedIn, Instagram, Snapchat, even posting some videos to YouTube.

When all is said and done, your social media activities can go a long way in swaying consumers one way or the other to consider doing business with you now and down the road.

Even though the Internet is not for everyone, it should definitely be a prime focus of your business, something that will ultimately translate into dollar signs.

Photo credit: BigStockPhoto.com

About the Author: Dave Thomas covers financial and business topics on the web.

Show Customers How Secure Doing Business with You Truly is

August 5, 2016 by Thomas Leave a Comment

If you had to worry about one thing driving some of your customers away, what would it be?

In some instances, things are pretty much out of your full control.

When the economy is struggling, consumers tend to pull back on buying items, sticking to mainly those things they truly need. As a result, business owners can see their financial revenue streams start to dry up to a degree.

There are a number of ways that your business can be prepared for such issues, though there are certainly not guarantees that they will always work.

So, will you be ready the next time things appear to be heading south?

Keep Customer Satisfaction at High Levels

First and foremost, you need to make sure that customer satisfaction levels never dip dramatically.

One danger to steer clear of as a business owner is being complacent.

Yes, you may have great products and/or services, not to mention a great rapport between your employees (including you) and your customers.

That said don’t take those customers (current and potential ones) for granted. If you do that, you open the door to possible heartbreak.

So, what are some levels of customer satisfaction that should always remain high?

One of the most important is making sure customers feel secure doing business with you.

In a day and age where identity theft is a constant fear, many customers worry about how much time and money you invest into keeping their data and any transactions they make with you fully secure.

When it comes to secure credit card processing, it is important that customers feel safe and sound doing business with you.

Each and every credit card transaction with your business needs to be one where no glitches (notably identity theft) can rear their ugly heads.

If you’ve been having some doubts about your payment processing provider up to this point, look around to see if there are better options out there for you. Remember, keeping your customers happy and secure should always be a top priority.

Making Sales on the Go

Speaking of that happiness, more and more consumers are looking to make purchases when on the go. As a result, having ability to make mobile sales is also an important feature your business should certainly consider offering if not already.

For example, when is the last time you flew on an airliner?

If it was in recent times (even the last few years); you will notice that airlines no longer accept cash for alcoholic drinks or when purchasing snacks at 30,000 feet etc. It is easier for the airlines to conduct all their sales through credit cards, meaning flight attendants do not have to carry change on them when serving customers. A simple swipe of a credit card through a mobile app reader and the sale is complete.

For your business, make sure you can and do accept credit cards anywhere at any time, with an emphasis again on secure and safe transactions.

Finally, always be quick to respond to customers in the event their personal financial information is in fact compromised.

Yes, you may lose some customers over this for the long haul, but many others are more apt to stay with you if they see you have taken a pro-active and swift response to the problem.

This means identifying the problem as quickly as possible, finding a solution so that customers do not feel a major financial impact, and working to make sure (as best you can) that it does not happen again.

When working with a credit card provider, be sure to discuss with them the importance of coming up with safe and expedient purchases for customers.

Today’s world is predicated on the ability of businesses to serve their customers in a fast, courteous, and safe manner. When one or more of those traits are missing, the customer might ultimately be the one who ends up missing down the road.

Don’t be that business owner who doesn’t understand how important those three characteristics of a successful business truly are.

Be the business owner who is secure enough in what he or she is doing.

Photo credit: BigStockPhoto.com

About the Author: Dave Thomas covers business topics on the web.