No business is an island. Yes, this may be your big idea, and the thing that you’ve put your time, energy, and life savings into, but failing to build a strong team of support could stop you from getting where you want to go. After a business has seen a few healthy years, invariably balls start getting dropped. My friend and former client, Les McKeown calls this "Whitewater". Much like the real rapids of rafting, a business in Whitewater has gotten more complex and it's difficult to navigate on your own.
Who are you going to let onto your business 'boat'? Before (or just as) you’re experiencing those inevitable highs and lows, you're going to need the right people on board. People who will take your business from strength to strength, and who you will hopefully enjoy the journey with most. And it's not just your internal team. Take a look:
You need the team that’s best for your business, not the people who you would have a great time with on a Friday night. Whether you're using temporary, contract help or employing a full-time staff, your crew needs to not only understand your vision, but also be aligned with what you want your company to be doing in the world.
A like-minded team of passionate individuals who share your vision and can help you create the right company culture to get things done. Experience and skill sets count, but think too about how impassioned your interviewees seem, and how well they convey their vision for helping you move into the future. These folks need to augment your existing support team - or you need to NOT employ them.
You may be very adept at your craft, but, if you're like most creative entrepreneurs on the more Chaotic end of the spectrum, you're probably not nearly as experienced in the business side of things. And vice versa: Linears tend to struggle with the experiential side of business building.
To overcome that knowledge gap, you may need to enlist trusted experts from time to time. If you're not great with tech, you may need to hire a professional to get your network up and running. If you're looking to attract investors, you might want to talk with a private equity consultant like those at IT Ally. Experienced experts cut the learning curve and help ensure that you're maximizing your results from the beginning.
While it's true that you have competitors, not everyone is out to get you. In my experience, a focus on collaboration over competition with your industry colleagues can actually be a big benefit. Industry connections provide you with inspiration, potential clients, and collaborators. Whether you achieve this thanks to knowledge from your expert helpers, or get into networking and events, a supportive community within your industry helps you learn best practices, learn from others in your field, and develop stronger bonds with folks who understand the journey you're on.
Choosing the right support team for your company takes time and patience. But you'll be more likely to survive even the extreme challenges of those first years of whitewater when you do.
The path to success demands more than just a vision; it requires a strategic foundation that's as rock-solid as your determination. Whether you're a seasoned entrepreneur or nurturing the seeds of a budding startup, understanding the pivotal elements that will fuel your journey is paramount. From mastering the intricacies of financing to curating the perfect environment and assembling an unwavering support system, the initial steps on the road to sustainable growth require thoughtful consideration. Here's five mostly obvious, but maybe surprising, elements that set the stage for a thriving and prosperous business venture.
Expansions cost money, and while the ultimate aim is to make more profits, you need some financial cushion to make growth possible. You need to be OK with investing money and not seeing a return immediately. So you can't just pull that money out of the business if it's already allocated for something else!
If you haven't been saving up for growth, you'll have to source financing for your expansion externally: from a bank or private investor(s). One of the major downsides of doing this is that the process of getting an investment can be lengthy and complicated. You have to convince an outside body of the validity and profitability of your business, and possibly share the profits, too.
If growth is on your mind, you'll need to think about where the money for expansion is coming from!
Expansion without a plan can be chaotic and often fails. That is why it's crucially important that you have a clear plan for your business expansion. This document should include your goals, financial projections, values, and an assessment of the risks involved.
It's also a smart idea to create a timeline for when you expect each stage of your expansion to occur. That will help you and your team split all the tasks you will need to do down into sections, as well as keep you on task through the expansion process.
You know what they say: location, location, location!
If you're a solopreneur, this may be a home office, but even still, you need enough room to get work done. I've known micro business owners who had to expand into their garage or basement to have enough room for the work they were doing - and the supplies they needed to do that work.
Larger organizations may need room for more employees, larger operations, or even additional stock or manufacturing capability. Moving your business from one location to another, especially if it's a cross-country move, can be a real challenge.
The good news is that working with companies like Allied - that specialize in cross-country moves - can make all the difference. Don't trust a move to local yokels. Been there. Done that. When we moved from Mississippi back to Nashville, we ended up with more broken lamps and furniture than I could count. When we moved from Nashville up to Indiana, we hired pros to do the loading and unloading. Don't leave your livelihood to chance!
In addition to new premises, you’re also going to need to employ more people as you expand your business. It's important to strike a balance here between filling the vacancies that you have and not rushing the recruiting process. Slow to hire and quick to fire is the mantra of the work world. Whether you're working with occasional contractors or building our your full-time team, choose folks who are not only well qualified for their roles, but who are a good match for their teams and the overall values of your business. Hire for culture improvement, not just culture fit.
Last of all, when growing your business you are going to need patience - and lots of it. Yes, even though it can be tempting to seize every opportunity that comes your way, expanding too fast can ultimately destabilize your company, and lead to failure later down the line. With that in mind, it's best to expand at a sustainable rate and ensure that you can properly support any growth at every stage. That's why a plan is important. It helps you see the milestones and keep you on track.
But a lot can go off the rails between milestones. Projects can run overtime, or over budget. In the military, they say, "no plan survives first contact with the enemy" - things happen. You can't plan for every eventuality, but you can have patience and SPACE in your plan to accommodate the things that could go off the rails.
If you're ready to build a growth plan that works for how you're wired to work, book a Star Power Intensive and let's strategize what sustainable growth looks like for you!
Whether your business is online or off, you're going to likely be interacting with people. Gasp! I know! PEOPLE!!
Bluntly, first impressions still matter. They're often awkward, inaccurate, and problematic, but they still matter. As a business owner, your ability to create a favorable initial encounter can impact your company's growth and reputation. Honestly, the number of times I've been pitched a cold email with typos, inaccuracies, and other language issues makes me wonder if that person really wants to do business with me. Recently, I had another business owner call me NICK in his cold email. My name is nowhere CLOSE to Nick! You really have to TRY to misspell Lisa to get Nick... the letters aren't even close together on the keyboard!
Positive first impressions are all about improving your visibility - a good first impression means a positive memory in your collaborator's mind when they walk away. As relationships develop, a person steps back into a conversation from whatever "frame" they left it. So if your first interaction is positive, they come to the second interaction with a positive impression and feeling... setting you up to have another positive interaction and perpetuate that cycle of awesomeness.
If you start off on the wrong foot, it's so challenging to get back on the right one.
Many business owners don't realize how the "little things" can make a big impression. Companies like EverLine Coatings and Services stripe parking lots (among other things), which may not seem like a big deal - until you drive up to a store front that hasn't had the lot painted in decades and you're not even sure if the joint is still open anymore! Having fresh, crisp lines on your lot gives it that "new car smell" so to speak. That clean, fresh look can make a BIG first impression.
Now, there’s a lot more that goes into first impressions than just aesthetics - way more. Here are a few additional ideas to help you make a great first impression with your business.
Yeah, I know it's "aesthetics", but it counts! Your attire speaks volumes about your brand. Dressing appropriately for your industry and the occasion is essential. This doesn’t immediately mean that you have to wear a suit if suits just aren’t your thing. If your business is in the tech industry, it doesn’t immediately mean that you need to wear jeans and a muted jacket. Steve Jobs gave up suits in favor of jeans and a mock turtleneck. That was his wardrobe, his "brand identity" in clothing form.
What it means is to dress as if you (and your business) easily fit into the industry. If you’re into business casual, then just wear that. If there are meetings where people are in suits, then dress for that occasion.
It helps to dress the part, but you don’t always need to dress the part every day, either. If you work from home and you don’t do video calls, why dress like you’re heading for the office? It’s just something to consider when it comes to first impressions.
Have any meetings? Do you have a storefront that opens at a certain time? Does your website promise to deliver something within a certain period of time? All of these things definitely need to be taken into consideration. Being punctual is more than showing up late to a meeting.
Being punctual shows that you respect the other person's time and that you’re reliable. Plus, it shows how committed you are to the engagement. So, always keep this in mind because being late and keeping someone waiting can really leave a sour taste in someone’s mouth (even if it’s justified why you’re late).
So, while this sounds vague, it means improvement in all forms of your business, with yourself included. You should be striving to regulary improve your website, your storefront, your products, how you market on social media, your email marketing, how you pitch, etc. Improvement never ends, so you need to be mindful of your capacity for change and upgrades at any given point in time.
Like I said earlier, first impressions can be wonky when you're new and just learning. But with time, you'll improve your ability to show up as the best version of you and your brand in every company interaction. It makes a big difference - especially when big money is on the line.
Image credit: Pexels
As a business owner, you probably don't want one-time customers. I mean, you probably won't turn them away, either! But, having loyal repeat buyers creates stability in your business. Plus, it helps you build your credibility and establish your reputation in the marketplace.
If you’re feeling a bit stuck when it comes to client retention and customer happiness, here are a few ideas to stimulate customer loyalty.
Visiting your clients in person and have a conversation with them as often as possible. Catch a plane, hop in your vehicle and travel around to meet with them individually and get to know them better. Be sure you're staying safe out there. You don't want to end up calling a lawyer or a tow truck after a fender bender on your road trip.
Another way to keep happy and loyal clients is to reward and thank them often. A thank you will go a long way in helping you to make certain that your customers continue to choose to do business with you over the competition. There are many ways to reward your customers such as by offering special promotions or even sneak peeks of what products or services you may soon be rolling out before they go public. It may also help to acknowledge your customer’s birthdays and to send out a holiday card.
If you’re going to have a profitable and sustainable business then you must be a good problem solver. Make sure you train your customer service team and that they know how to handle a wide variety of matters that may arise. It’s important that you not only address these complaints but that you find suitable solutions in a timely manner too. You should avoid pushing issues aside for another day or hoping that they will just go away. You’ll have happier customers when you tackle matters head-on and can collect more positive online reviews for your business as well.
Of course, if you want your customers to want to return to your business, ensure all keep your equipment (and premises) well-maintained. That means anything your customers might interact with - websites, countertops, door handles... all of it! It's a detail often overlooked, especially when all that equipment is shiny and new. For example, if you're an ophthalmologist, maintenance means timely ophthalmic equipment repairs as well as basic computer updates. Prioritizing equipment maintenance demonstrates your commitment to delivering quality service or products, thus safeguarding your business's long-term success.
Your customers are eager to be heard and want to know they have a voice when it comes to how they’re feeling about your company and your products or services. Therefore, make it a point to be a good listener and give them the platform they need to let their thoughts, opinions, and insights be shared. Ask the tough questions and then lend an open ear so you can gather some tips as to what you can be doing better at your company going forward. Use this information you gather as a learning opportunity to fix what might be broken in your business. These are valuable tips and pointers from your customers that you can’t afford to overlook as a business owner.
Being sued can sometimes be the result of a business model mistake tht keeps your business from growing like it should - or make it collapse all together.
If you are at risk of being sued or simply want to ensure your business is protected for the future, here are some tips to follow.
No matter the size of your business, the right insurance coverage is a hedge of protection around your business. Even small business startup insurance (like E&O for coaches) can help protect you from being sued for a simple mistake by a litigious client or vendor.
A great attorney, it almost goes without saying, is important to have at the ready in case anything happens.
If someone makes a claim against your business, a legal representative can often mean the difference between a lengthy trial or resolving the matter before it ever gets that far.
You might not understand the laws and regulations when it comes to customer disputes on issues. Therefore, hiring an attorney and having them at hand will guarantee that your business can stay afloat and healthy when at risk of being sued.
If you mix business with pleasure and something happens in your marriage, it could hinder the success and health of your business. Your ex-partner could try and sue your company if they are involved in your business. They may even end up owning part or all of it. Contracts matter.
Cyber attacks, failure to use sound contracts and agreements, and assumptions can create other issues in your business that lead to getting sued. If a hacker performs a cyberattack and manages to breach your information, it could leak that information and make your business the star of a class-action lawsuit. Handshake agreements often lead to misunderstandings. Assuming each party is on the same page can cause a lot of consternation when things go off the rails.
Solid contracts, signed agreements, legal support, and the right insurance for your company can go a long way to protecting you and your assets from being the target of a lawsuit. Better to be safe than sorry.
If you're a freelancer, you probably understand the importance of having a strong online presence. Your website is central to being able to market your business and establish yourself as a successful freelancer. Indeed, a well-designed website serves many functions, including:
Here, this article will explore not the reasons why you need a website — we can safely assume that you already know them by heart and have probably discovered some new ones too — but the essential elements you need on your website. First of all, let’s tackle the obvious ones: You want a strong SEO-optimized presence as well as clear and obvious contact data.
We’ll jump straight to the lesser obvious aspects of a freelance business website, and why you need them for growth.
Professional-looking intro video
Video content has become increasingly popular due to its engaging nature and ability to convey information effectively. In fact, a video is more likely to engage your audience than a long text. That being said, you want to keep some crucial facts in mind:
A professional crafted video will help showcase your personality, skills, and passion for your work. It is also a great greeting for new visitors. Believe it or not, but there are plenty of inexpensive and high quality Ai video generators that can do the job for you.
Payment platform
Selling your services or products online has become a logical choice for freelancers. By integrating a payment platform into your website, such as the hosted payment form from PayTrace, you can streamline the process of receiving payments from your clients.
From a freelancing perspective, this not only saves you a lot of time and effort that you don’t spend preparing invoices and chasing payments, but it also offers a seamless and secure payment experience for your customers. This makes it easier for them to hire your services, or purchase your products, and for you to manage the transactional part of your relationship.
Newsletter sign-up button
Building a loyal audience and maintaining a strong connection with clients is vital for every business. The belief that only established companies can have a newsletter is wrong. For freelancers, the newsletter can be a fantastic tool that allows them to send exclusive content, keep the audience in the loop, and share latest offers and activities.
Even though newsletters may sound old-fashioned, they still help build loyalty and keep your customers in the loop. Therefore, adding a sign-up button on your website can help you build a group of potential leads. Regular (but not too regular) newsletters can nurture a loyal following, establish a sense of trust and credibility, and ultimately lead to repeat businesses and referrals.
As a freelancer, your website serves as a powerful marketing tool that can attract clients, establish your brand, and demonstrate your USP. As such, you want to seize the opportunities to make your website work harder for you with the tips shared above.
As I mentioned in a separate post, your team is the backbone of your business. They can make or break your success. While finding the right people is key, don't forget to focus on nurturing your team's collective output too. From innovation to customer experience, their productivity affects everything. Want to inspire your team to greatness? Here's how:
It's not enough for your team to just show up to work. They need to feel connected to the mission and values of your company. Recognizing staff for their hard work can build a sense of pride in the job. Companies like Challenge Coins Ltd can help you celebrate individual achievements or company milestones with custom coins. Supporting causes they care about (outside your company) can also boost morale and reduce staff turnover. Some companies even make it part of their pay structure.
Fear of judgment and failure can hold your team back. And don't get me started on what micro-aggressions or bullying can do to the safety of a work environment! Building a psychologically safe working environment is crucial to unlocking your team's full potential. There are tools to promote psychological safety and to encourage collaboration. When your team feels safe, they're more likely to take calculated risks, and be willing to create "happy accidents" that lead to creative gains for the company. Safety to take risks and learn from mistakes cultivates more innovative and effective problem-solvers.
Healthy and happy employees are more productive. So invest in their wellness by offering gym memberships, incorporating screen breaks into their day, and promoting hydration. First aid and mental health resources in the workplace can also make a big difference. Plus, team-building sessions and away days can create better working relationships, which reduces stress and fosters positivity.
Your team needs the right tools to do their job well. If you're slow to adopt new technologies, your team's productivity will suffer. Automated tools can keep things running smoothly and increase engagement by providing employees with the resources they need to succeed. Recording employee progress and rewarding them for their hard work can also be motivating. Gamification, combined with recognition rewards can be a big motivator for some team members!
Remember, your team's collective output is essential to your success. So invest in them, celebrate their achievements, and watch your business thrive! With these tips, you can build a kickass team that delivers stellar results.
When you're in the early stages of building a stand-out business, there are lots of moving parts and pieces to keep things running smoothly. There are also a lot of things that seem important, but are just distractions.
So where do you need to focus right from the start?
The things that will move the needle the most.
Easier said than done, right? Because those things can look different for each business. But let's look at the most common things you need to be thinking about right from the start to ensure you're on the path to success.
Your brand is the heart and soul of your business, and it's what sets you apart from the crowd. So, take the time to craft a brand that reflects your unique personality and style. Remember, a strong brand will attract the right customers and help you stand out in the marketplace.
A strong brand isn't about flashy websites or spending a lot of dough to "look good". Your brand is your business's identity and how you want to be perceived by the world. It's the story that lives in the hearts of your Raving Fans when you're not actively marketing to them. Take the time to think about how you want your business to come across and create messaging and marketing that reflects that. The stronger your brand is, the better your chances of success.
With a strong brand, your business becomes memorable - even when you're NOT marketing!
Next, seek out good advice. As a creative entrepreneur, you might feel like you can do everything on your own, but the truth is, everyone needs help. Surround yourself with people who have been there and done that, and learn from their experience. Trust me, it'll save you time and energy in the long run.
The right people - including legal experts, consultants, and those who are experts in your specific industry can be invaluable sources of support, encouragement, and insight. And they don't need to be on call 24/7 to be good for you. Expert guidance, that's focused on helping you reach your goals and dreams, will help you have a much higher chance of success and shorten your learning curve..
Building a business can be overwhelming, and you don't have to do it all alone. Seek out mentors, coaches, and experts who can guide you along the way.
When you look at the successes and failures of previous business owners, so much of it comes down to the people they had access to when they started out. In essence, you are in a much better position, with a much higher chance of success, if you are able to get in touch with the right people at the start. Consult legal experts (like Manfred Sternberg & Associates, or other legal consultants) and those who are experts in the needs of your specific industry.
Of course, we can't forget about the moolah! Cash flow is the lifeblood of your business. If you're self-funding everything, that means you carry all the risk and financial burden. That may or may not be a problem for you, but it's important to know what you're really dealing with when it comes to the "money stuff" in your business.
Look for sources of funding that align with your values and goals. Maybe that's crowd sourcing or finding a lender through Kiva. Or maybe it's your own credit card. Been there. Done that! The key is to have a secure source of funding that will give you the financial stability you need to grow and thrive.
Seek funding you can rely on before you think you'll need it. Because often, when you finally need it, you may have a hard time getting it!
Last but certainly not least, you need to build the best damn team ever! If cash flow is the lifeblood, then your team is the backbone of your business. Who you surround yourself with is arguably the most important factor of all. When you have a team you love (that loves you right back), you'll have a much better chance of success.
Take your time to find the right people for your team. Be willing to let people go that don't fit your team culture (and do it FAST!). This includes contractors, part timers, and anyone else supporting you and your business. The people you surround yourself with are crucial to your business's success. That means your advisors AND your team support! Develop a rock-solid recruitment process that helps you find the right people who share your vision and passion. With a strong team, you can tackle anything that comes your way.
So, there you have it - the four things you need at the start of your business: a strong brand, good advice, secure funding, and the best team you can afford. Remember, building a successful business takes time. It can be challenging, requires effort, and dedication, but with these four elements in place, you'll be on your way to creating a thriving business.
When you started your business, it was probably pretty simple to handle everything on your own. You wore all the hats and maybe even wore them most of the time, because it was just you.
As your business expands, things often get more complicated. Now, wearing all the hats means you have no time to have a life! You might find that you're unable to keep up with everything like you once did.
Been there, done that!
Whether you're looking at delegating to other team members or automating a few things to relieve the pressure valve, you're going to need help to advance your company. Here are a few telltale signs that your home business has grown to the point where it needs to be more than just you.
It could be a sign that your home business is growing too big for just you if you find yourself working longer hours than you had planned. This could indicate that you are struggling to meet demand or that you just don't have enough time in the day to do everything that needs to be done. For instance, it can be a hint that you need assistance if you are spending more time handling administrative duties or customer service requests than actively operating the business.
Another sign that your firm is expanding and will need more resources is when you have observed a sustained and significant increase in revenue. Having additional help isn't free. You need to be able to financially sustain the help you're trying to hire. Once the income is there, hiring help can let you focus on other areas of running a successful business while also ensuring that all chores are handled effectively.
If you've already got some help, but still find that you are doing too much work that's outside your zone of genius, it may be a sign that you need more assistance. Although many business owners find this to be a challenging transition, it is crucial for the expansion and success of your home business. Hiring a specialist or a service provider like a VA agency like MyVA.Rocks or a marketing firm like Adtaxi could help with this.
The expectations of your company will rise along with the number of customers. It could be time to consider hiring someone else who can help fulfil demand if you discover that there aren't enough hours in the day to meet all of the demands of your customers. You might require someone to manage customer support or to contribute to further product development, for instance.
Finally, it could be time to make an investment in someone who can help manage this part of your organization if you notice that you are lagging behind on new technology and trends. Hiring a specialist in this area could make the difference between staying ahead or falling behind as staying ahead of the competition is vital for the growth of any firm. Hiring a social media expert, for instance, might help your business stay competitive if you find it difficult to keep up with the most recent developments in online marketing.
It could be a good idea to start thinking about employing extra workers to help operate your home business if any of these symptoms sound familiar. For your company to continue to succeed and keep up with demand, you must ensure that you have enough resources available. The most crucial thing is to choose carefully - but CHOOSE before it's too late. Preventative measures taken now can spare your company a lot of trouble in the future. Find someone with the abilities to support the success of your company by doing your homework!
The customer experience is the name given to the customers' perceptions and feelings when they interact with a business. This is the total effect of the interactions that they have gone through, from using the website to speaking to the sales agent and receiving the parcel through the door. It is a broad range of things that constitute the customer experience. If your aim is to broaden your customer base or continue to get more of the same type of customer, then you need to focus on the customer experience. Here are a few ways you can enhance your customer experience and gain more customers.
Your Customer's Needs
You need to start putting yourself in your customer's shoes. Instead of viewing your products and services through your own business lens, you need to start viewing your brand as if you were your customer. Are you connecting with your customer? Do you solve a need in your customer's life? What is your understanding of the problems in your customer's life that your products and services are aimed at solving? Have you looked at your competitors and looked at how they position themselves in relation to these points? If you know what your customer's needs are, then you can start mapping out a customer journey with that as your focus point.
Think Deeply About Your Content
The customer experience relies on the content you produce. Content, like social media posts, are able to give you valuable data about how your custom behaves. It can show you which images and key messages resonate the most. The more you know about how your customer connects with your content, the better you will be able to use it for your specific aims. By analyzing the marketing metrics on your content, you will develop a great understanding of the ROI (return on investment) for each marketing channel with a view to focusing on the ones that work best. The idea is to develop better content on all the channels you actually need.
What Value Do You Offer
You need to focus on the value you offer your customers. It is important to remember that for the majority of customers, as high as two-thirds, the customer experience is more important than the price. So instead of trying to produce as much as possible, you should slow down and develop a better experience. You need to consider creating content that connects with your customer emotionally utilizing the value you are supplying. In a way to connect with them. A good brand has the power to elicit an emotional response in a customer by tapping into their desires. At every step along the way, you need to add value; even consider music for waiting room and the materials you use for your packaging. Everything needs to add value.
Conclusion
The customer experience is a way of seducing the customer into using you more often. You need a multipronged approach to dealing with this. If you focus on the customer's needs and the value you are offering their lives and produce high-quality content which highlights these points, you will produce a much better customer experience.