Successful Blog

Do Employees Get Credit for Being Honest?

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While it is not a common day occurrence, you also are not entirely surprised when you pick up the newspaper, turn on the television, or go online and hear about an employee who was stealing from their employer. Specifically, using the office credit card for their betterment.

As noted, while the cases may be in the minority, they can still be devastating to a small business, especially one that is having trouble making a go of it or is just getting its feet wet in the business world.

Some examples include:

* The office manager who is in charge of ordering supplies suddenly gets the urge to go on a small shopping spree of her or his own. While ordering stuff for the company, they conveniently order some items for themselves. Before you know it, they have spent hundreds or even thousands of company dollars, leaving a blotch of red ink in the company’s finances;

* The employee who travels often for their company gets a business credit card to book flights, hotels, rental cars, meals and more while conducting business on the road. The next thing you know, they have run up multiple purchases that should have come out of their own wallet.

When such instances occur, employees may be caught immediately by someone else in the company who is keeping an eye on expenses, or they could go for some period of time before their game is discovered. Either way, the potential is there for businesses to not only lose money, but also the trust of customers who view such actions as a lack of overall leadership.

 

Losses to Small Business Add Up

According to a report from the Association of Certified Fraud Examiners (ACFE), it takes on average more than a year for a business owner or co-employee to nab the in-house criminal who is stealing from the company. Meantime, ACFE reports that small businesses (those with less than 100 employees) on average suffer a median setback of $147,000, compared to $100,000 for those businesses with 1,000 or more employees.

Some of the reasons losses at smaller businesses can go unseen for a while include:

* Less oversight because the small business owner is occupied with dozens of other responsibilities to keep his or her business running;
* The person in charge of the office credit card is oftentimes the person who is also doing the office books;
* Fewer employees means less chance of getting caught.

In order to lessen the chances of such crime at your small business, make sure you:

* Check the books yourself or have someone outside the company do it on a regular basis to look for any irregularities in spending;
* Make sure even the smallest of expenditures are accounted for and documented. Whether an employee is buying new ink toner for the office copier or spending a weekend in Las Vegas to meet with new clients, everything needs to be properly recorded;
* Do a thorough check on each employee you hire to make sure they have no criminal past, especially where it involves money (do not just assume that everyone who checks off they have never been convicted of a crime on their application is telling the truth);
* Have a meeting with your employees once or twice a year to inform them of the consequences of such actions, including possible loss of employment and/or jail time (meaning you will press charges).

With all that you potentially have to lose from even one serious incident of credit card abuse in your office, are you willing to take that chance?

Photo credit: insuranceproviders.com

Dave Thomas covers small business topics for various websites, including processing credit cards.

5 Ways to Increase Efficiency in your Company

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Robert Cordray

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5 Ways to Increase Efficiency in your Company

In order to reach their goals, some businesses ask their employees to work longer hours. While this is necessary in some cases, you may consider an alternative approach: finding ways to be more efficient with the time you have. Smart work can increase productivity more than hard work. Regardless of your businesses product or service, there are many ways to increase efficiency. Consider the following 5 points:

1. Facilitate Teamwork

More gets done when people work together. Problems are more easily solved through collaboration. Create means by which people can work together. Don’t deprive your employees of human interaction by isolating them in dungeon-like cubicles. While talking too much amongst employees can be a distraction when they get off topic, discussion can also spark ideas.

2. Reduce Travel Time

More time travelling in the car translates into more time sitting in your office. Some travel is necessary, but make sure it’s productive. Instead of travelling to off site meetings or training sessions, consider using technology to communicate. Programs like Skype or Google+ provide formats for individual interviews or group meetings. Stay on top of new technologies and be willing to experiment with them. You may just find yourself with some extra time as a result.

3. Focus on Goals

In the trenches of daily work, employees can loose track of goals over time. Set goals that everyone is committed to. Then remind your employees of those goals periodically. You may even want to display those goals in a place where everyone can see them. Every time you perform a task, look at those goals and ask yourself if it will bring you closer to those goals.

4. Provide Opportunity for Feedback

Customers of your product or service know better than anyone what works well and what doesn’t. Make sure they have an opportunity to voice their opinion. This can be done through a company blog, where you can engage customers directly. Employees also generally have important concerns. Weekly or monthly interviews, depending on the size of your company is one way to learn from them. Another option is an online forum.

5. Keep Employees Happy

When a worker enjoys what they are doing, they will be more productive. There are many ways to improve company happiness. Consider company outings, lunches, or parties. Provide means by which employees can release stress and relax for a moment. While these things may not seem to contribute directly to a company’s goals, they will lead to better work from employees. Time listed these additional reasons why your employees may not be happy.

I remember as a kid being told a story about a fisherman. He played his flute by the ocean, hoping that fish would be lured by his song. When nothing happened, he put down the flute and cast his net into the water. He was amazed when he caught a net full of fish. Don’t be like this fisherman. Take time to discover ways to improve efficiency in your company.

Author’s Bio:
Robert Cordray writes about business, entrepreneurship, and living better at noomii.com. He has acquired over 20 years of entrepreneurship and business consulting. You can find him on Twitter @RobertCordray

Thank you for adding your insight, Robert!

–ME “Liz” Strauss

Everything Counts When Building a Professional Brand

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Deb Bixler

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Branding As A Professional

There is a lot of talk about branding. Branding online and off needs to be consistent. That goes without saying!

What about your brand as a professional?

A recent experience drove home to me the importance of my brand as a professional.

I had my business brochures reprinted. An order of a thousand brochures lasts about a year.

When I picked them up and took one out of the box it jumped out at me….

They were folded wrong. A small error of alignment left a white line along the edge of the trifold brochure. The office boy giving me the order could not even see the error when I said that they were folded wrong.

He told me to take a few and then the supervisor would call me with some options. I left feeling like I was being too picky. Over the course of a week or so, I showed the poorly folded brochure to dozens of people.

When I asked “Can you see anything wrong with this brochure?” most would study it with intense scrutiny and then point out something stupid like the color of my shirt or the position of my fingers. After I pointed out the white line, they would say, “That’s no big deal.”

Professionalism in BusinessOnly 1:10 even saw the error without me pointing it out.

After a week or so the printing company called with a settlement offer. Take $70 off the order and keep them as is or do a total reprint free. The order was $250. I was really torn as to what to do.

The printing error really bugged me but no one noticed. I decided to change my terminology in getting opinions.

“This brochure has a printing error. Can you see it?”

My hope was that they would look at the bigger picture and not the details. Same thing… only about 1:10 could actually see it! Everyone I told about the money compensation offer said the same thing: “Take the discount and keep them!”

The Artistic Eye Sees More

I realized that anyone who noticed the fold error was either artistic or in a technology-based business that utilizes graphics on a daily basis.

So I took the brochures to school. I teach culinary school. Chefs are artists!

The first half-dozen aspiring young chefs immediately saw the error. Ahhh…. validation, finally!

One young lady said, “If it bothers you, you should definitely get them reprinted!”

An astute student from my menu design class said: “Isn’t this what you tell us about branding? You always brand yourself as a professional, why would you even consider keeping them!?”

Brand As A Home Business Professional

I provide training for home business consultants. I teach them how to treat their business like a profession. That is the trademark that I operate under.

No matter how small your business when you apply the strategies used by professionals in corporate jobs you will get the same results working from home.

At culinary school I stress maintaining professionalism in the restaurant kitchen…. I briefly forgot to treat my own brand as a professional.

Professionalism is a brand that is carried through out your business, whether it be brochures or online graphics. Never sacrifice your professionalism for money!

I got the reprint and put the rejects in the recycling barrel!

Author’s Bio:
Deb Bixler retired from the corporate world using the proven business systems that made her a success working for others by incorporated them into her home business. In only 9 months Deb replaced her full time income with the sales and commissions from her home party plan business. Find her on Twitter at: http://www.Twitter.com/debbixler

Thank you, Deb!
I would have made the same choice you did.

— ME “Liz” Strauss

Ask People What They’re Thinking

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I Can’t Read Your Mind

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When I was younger, maybe ten or eleven, I used to wonder about what other people were thinking. I’d sit in my desk at school and imagine I was another person, sitting in that person’s desk, thinking what that person was thinking. At times, I’d wonder whether that person ever did the same thing — sat in his or her desk wondering what I was thinking.

As I got older, maybe 15 or 16, I began to ask people what they were thinking. Some people answer that they had been thinking the most amazing things.Some people would say they had been thinking absolutely nothing. Seemed a strange thing that a person could think nothing.

I didn’t realize until I was older still that people often answered that question with something they might have decided I was expecting or something that they devised on the spot because what they were thinking didn’t seem worthy or relevant.

What Are You Thinking?

Over a quiet moment at a romantic first-date dinner, a young man asked “What are you thinking?” and my answer was, “I was thinking about the bread.” Not exactly the most charming response to my date. It was a long complicated set of thoughts that had brought from thoughts of meals shared with people I cared about to how it’s called “breaking bread.”

He was affronted that my thoughts seemed less than romantic and not at all about the moment … with him.

I tried to explain how the bread related. The more I said the more irrelevant my words sounded even to me.

My thoughts had been soft yet suddenly I was feeling small and wrong for moment’s mental connection that happened without intention … the way connections between ideas happen for me.

We never became a couple. We showed no signs of an ability to communicate on the simplest things.

He wanted me to be thinking what he was thinking at that moment and I wasn’t. Had he not asked he might have assumed I was … I expect that eventually would have had equally bad results.

Ask People What They’re Thinking

I’m thinking on that story now because I realized this morning, how often I see people take a wrong turn by deciding what someone else is thinking. Misled by their silence or a nondescript comment we invent their world view by putting our thoughts into their mind. You can only imagine what scenarios we’ve been able to conjure out of what people were nowhere near thinking at all.

Eventually I’ve learned it’s easier, faster, and less worrisome to ask people what they are thinking and then leave room for asking them why. And what my friends are thinking is always interesting, valuable, and worth hearing — much more than I might have imagined — and when I’m listening often the source of new thoughts of my own.

Thank you for all of the thinking that you do. The world needs it and I do too. Want a smarter, higher performing team? Want better relationships?
Keep thinking.
Keep asking people what their thinking.
Keep listening when they tell you.
It’s irresistible when you do.

Be irresistible.
–ME “Liz” Strauss

Thanks to Week 373 SOBs

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Successful and Outstanding Bloggers

Let me introduce the bloggers
who have earned this official badge of achievement,

Purple SOB Button Original SOB Button Red SOB Button Purple and Blue SOB Button
and the right to call themselves
Successful Blog SOBs.

I invite them to take a badge home to display on their blogs.

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They take the conversation to their readers,
contribute great ideas, challenge us, make us better, and make our businesses stronger.

I thank all of our SOBs for thinking what we say is worth passing on.
Good conversation shared can only improve the blogging community.

Should anyone question this SOB button’s validity, send him or her to me. Thie award carries a “Liz said so” guarantee, is endorsed by Kings of the Hemispheres, Martin and Michael, and is backed by my brothers, Angelo and Pasquale.

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Want to become an SOB?

If you’re an SO-Wanna-B, you can see the whole list of SOBs and learn how to be one by visiting the SOB Hall of Fame– A-Z Directory . Click the link or visit the What IS an SOB?! page in the sidebar.

–ME “Liz” Strauss

Mobile Payments vs. Credit Card Processing: Which One Will Work You?

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Trip Ochenski

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Accepting and processing credit cards from your customers is much easier today than it was in the past. Having a customer use a credit card within a business often means that a business owner can expect that customer to spend up to twenty percent more in that store than they otherwise would have. Furthermore, many businesses today operate a retail website. Since the vast majority of people prefer to use their credit card when shopping online, being set up for processing credit cards is practically a necessity for any business.

For years, businesses that wanted their customers to use their credit cards inside their business had to purchase a credit card reading terminal. Today, however, businesses have the option to accept credit cards through mobile payment processing. This technology allows a business to accept credit card through a smartphone or tablet computer.

Mobile payment processing offers a way to process customer credit cards no matter where a business sets up its operation. Without mobile payment processing, a business will need to purchase or rent a credit card reading terminal. This terminal will need to be connected to either a landline phone or a high-speed internet connection. Every time a customer uses his or her credit card, it will be swiped through this terminal.

Today, however, there are a number of credit card merchant services that provide small card readers that work over an internet connection. Because they are not required to be tied to a landline phone, these readers can be used anywhere that a staff person can access the internet. Some of these devices plug directly into a smartphone or tablet computer and use the device’s wireless network to transmit credit card data to the service that is processing credit cards.

To get set up to accept mobile payments, a business must first buy one of these card readers. After receiving the reader, the business must then connect it to their mobile device and download the app that goes along with it. This app will store customer data, transmit it to the processing company, and provide both the business and the customer with a receipt of the transaction.

Any business that does work and/or makes sales in multiple locations can benefit from mobile credit card processing. For example, businesses that operate out of traveling craft fairs and farmer’s markets are able to use this technology to accept customer credit cards for the first time.

Other businesses, such as landscapers and plumbers that have a central office but do most of their work away from it are now able to accept customer payment at the time of service. Instead of waiting for a customer to be invoiced before being able to accept payment, then dealing with the possibility of bounced checks, a mobile business can now count on immediate, reliable payments.

Of course, traditional businesses such as restaurants, or brick and mortar retailers may find that they have very little use for this new technology. Businesses that do not work in the field often will probably find that they can continue to rely on their traditional credit card terminals.

The new technology available in the field of credit card processing will open up a lot of possibilities for some businesses. Being able to accept customer payments from practically anywhere will mean that some businesses will be able to rapidly expand their customer base. Other businesses, however, will not see a lot of benefit from using the new technologies.

Author’s Bio:
Trip Ochenski writes about merchant services and mobile payments at Switch Commerce. He is also author of the SwitchTalk Blog. You can find him on Twitter as @SwitchCommerce.

Thank you for adding to the conversation!