Starting a new business venture of any kind is sometimes terrifying, often exciting, and involves a lot of other emotions along the way. It’s not for the faint-hearted and it’s certainly not something that everyone can do successfully.
While starting a business might be the easier part, making it a successful one is a whole different ball game. Drawing attention to your business is key, but increasing your visibility often stumps seasoned business owners, not to mention newbies.
How do you get noticed with so much noise from other competitors?
Here are some tricks and tips that will help draw the right kind of attention to your business.
If you’re someone who has never done event work before, you might consider a vendor event or industry convention. When they're targeted to the right audience, they can help you attract a number of clients quickly. I've done events where I've booked 10-20 new clients in a single afternoon.
If you want more visibility, think vertical. You'll want something eye-catching to dress your booth. You might invest in an 8x8 banner for your next event and other eye-catching decor to dress your stand. Remember, there will be a multitude of businesses all there for the same purpose of getting attention. If your booth doesn't stand out from the crowd (or can't be seen across the convention room floor), it will be difficult to get traffic to stick around at your station.
One of my favorite and inexpensive ways to do this is with some helium balloons. Tie them to the top of your booth so that people can see you from a distance. Then, you can just say "look for the balloons" and direct people to your booth from anywhere in the venue.
The online world may be messy, but social media is also a huge part of making most online businesses successful. For a new business, it's free advertising that will help build your credibility in the marketplace when done right.
A multi-channel approach can help you find more of your right audience in a cost-effective manner. Don't spread yourself too thin, though. It's important to be where your people are, but not at the sake of your health and budget.
Be sure to network with other business owners when it comes to your business venture. There are a lot of companies out there, all starting out and all needing to make their own moves within the industry to garner success.
Some businesses might be able to help you get your foot in the door with certain clients or collaborations that will rocket your business to success.
Networking is something that needs to be done on a regular basis. If you’re not connecting with people that can support you or your business, then it's going to be a long, hard, and lonely road ahead.
Even if it's just a "brochure" site, your website is your brand’s image in a digital capacity. That means when prospective leads or customers head to your site, the website is the first thing that they’ll see. Think about what you want your customers or prospective leads to learn when they come onto the site. If you're in e-commerce, think about how clients use the site. Is it easy for them to navigate? Your digital "front door" should help people feel like they belong and that you're open for business!
The online world remains one of the most powerful tools that you can use for your business venture. If you’re struggling to find ways to help add exposure to your business, then consider listing it on any websites that people will look at actively.
You could also reach out to higher-ranking websites to get some free advertising or link exchanges to help get your business noticed across the internet.
Finally, don’t be afraid to partner with other businesses. There will be plenty of businesses out there that are actively looking for other companies to partner up with. It saves money for both parties and can help reach audiences, whether those be similar audiences for both or completely different.
Drawing attention to your new business venture is a great way to help it get the notice it needs and more importantly, to drive sales and success.
There comes a time in your business when you just have too much work to complete alone. Whether you choose to outsource or hire, working with others means keeping them as happy, and as motivated as possible while still staying true to your vision and goals for your business. Here are a few obvious things that matter - and often get overlooked or ignored when you're a solopreneur.
Make sure your staff get paid on time
Like I said, sometimes it's obvious. Having to chase you down for payment is not only inconvenient and insulting, it can result in missed bills and wastes your workers’ time. If you're not at a point where you can consistently pay your folks in a timely manner, you're not ready for regular help. Instead, consider per-project or per-task help until you have a steady baseline income that will support having regular help.
When you're ready to hire - or pay freelancers - you're going to need an EIN (here in the US) if you don't want your Social Security information on blast. In case you don't know how long it takes to get an EIN, it depends on how you apply. If you don't already have one, now's the time to get that handled
As your company grows automated payroll software can be used to track hours and automatically work out wages for the week, making accurate and on-time payments a breeze.
Consider their work-life balance
Entrepreneurs are well known for their strong work ethic. Indeed, sometimes we are accused of letting business come first in everything we do! But your team isn't as invested in your company as you are. You need to consider their work-life balance. As I write this, my assistant is taking a few weeks off for some vacation and to attend to family matters. Your business needs to be able to support them as much as they support you.
Reward success... and failure!
It may sound obvious but you’d be surprised at how many entrepreneurs forget to reward their team when they do well. After all, when our businesses do well we, as entrepreneurs get the built-in rewards of success, increased profit, and status. However, this rarely impacts either in-house or outsourced workers.
To that end, you must take the time to properly reward your team. Contract team members are typically rewarded differently than employess, but those "thank-you's" still go a long way. The best way to know for sure is to ASK them what motivates and inspires them. Then use that information to deepen your relationships with them.
That doesn't mean you have to give them everything they ask for - remember, this is still YOUR business and it needs to work for how you're wired to work. Reasonable requests that can be accommodated go a long way toward building morale and driving team loyalty.
Every winning company has its own culture. Simply put, your company culture is the way your company (and the work environment you've created) demonstrates what it values, believes, and holds dear. You can SAY that you value something, but does it bear out in the way your team members respond to customers, each other, and you?
Research shows that improving your company culture can be key to finding top-notch talent.
What's the first impression your corporate culture gives? Does it reel potential clients and team members in or have them consider other options?
Corporate culture is a changing, shifting, and evolving thing - based on who is part of your organization. And if you're not keeping tabs on it, you may find attracting the right talent challenging! Here are five things to consider to improve your corporate culture and give your business the boost it needs.
Most team members want to be a part of something bigger than themselves, and research reveals that it’s part of human nature. You can factor this into developing your company culture. When people appreciate what you stand for and where you're headed, they are likelier to jump on your company’s bandwagon. So, it's not just about giving those values a once-over yourself at your annual planning retreat. You've got to spread the word!
Tell your team and let the whole world in. Talk about your core principles, your values and what truly matters to you - as a business owner and a company. This step might seem like a climb, but you can trust that the payoff for your company’s culture is worth it.
One unhappy customer will likely share their bad experience with at least nine others - and considering social media's impact, probably even more. It's like a chain reaction. If anything goes sideways, be proactive and address it quickly. With the internet at everyone’s fingertips, comparing products is a breeze. How would your products and service services hold up in such instances? When you've got quality offers that your team members believe in, you're making a positive contribution to your company culture.
Have you wondered why your teams are much happier when they believe in the management? It's called transparency. Spread the culture of transparency by making it crystal clear that you and your team are in this together. Keep your staff in the loop, and you’ll build a culture of transparency. Meanwhile, compliance is about following the rules and ensuring things run smoothly. Your corporate culture - those values and ethics - are like puzzle pieces. They all fit together, shaping how you do business.
Compliance is about staying on top of all the legal requirements for your business to ensure any external audits go well (IRS, for example). Depending on the size of your company, it may be a wise move to integrate compliance software into your business processes or simply outsource the task entirely. This allows you to focus on building the front end of your business, knowing that all compliance matters is being taken care of. For example, a private fund manager struggling to fulfil filing and reporting obligations might try looking for private equity reporting requirements assistance and SAAS tools to help with compliance.
Show some love for your team’s hustle if you want to boost the corporate culture. According to research, when the top hierarchy celebrates hard work, it works like magic. 71% of staff are more likely to hang around. You create an employee recognition program by rolling out a red carpet for your team. Think weekly MVP or the month’s best employee. It's more than just a prize; it's like a high-five for their effort, which goes a long way and boosts employee morale. And here is the good part, when you give props where they’re due, it's like supercharging your company’s culture. But that's not all. You can kick your corporate culture up a notch by helping your crew connect and getting them the right gear and resources. That leads to better performance, tighter work bonds, and guarantees that your top talent sticks around for the long haul.
Burnout is on the rise. And if you have remote workers, the odds are even higher. Your big dreams and goals can't overshadow your team’s well-being. Give them space to learn and grow and also to care for themselves - physically, mentally, emotionally. Get toxic people out of the workplace before you poison your company culture. Give your best people the best possible chance for success - and let them know THEIR dreams matter, too. When they know you're in their corner, you'll have a team mate that wants to stick around!
Image via Unsplash (CC0 License)
You’re meeting with a potential client in person for the first time, and you want things to go well. This meeting could be a dealbreaker for them - if they’re impressed by what they see, they’re highly likely to become a happy, loyal client.
As a freelancer, you need to do everything in your power to convince them that you are their best choice. Want to make a great first impression? Read on for a few tips!
Should you host the meeting in your house? Probably not. Can it be done in a coffee shop? Yes, but it’s not usually ideal.
Instead, you'll need a professional setting that wows the prospect and gives a positive reflection of your brand. This doesn’t mean you have to rent out a massive office - unless that's what your brand demands. Could you imagine the CEO of a company like Apple holding a meeting with a potential client inside Starbucks?
Consider the brand story of your business and select a location that fits.
Places like Bell Works (in the Chicago area) have coworking facilities - a large office area with multiple desks or rooms you can pay for. You may only need to pay for a few hours worth of use, but it gives you a professional setting for the meeting.
Right away, you look like a freelance that means business. The client feels more confident as you look like you know what you’re doing. Compare this to a meeting in your house and you create a completely different image.
You never ever want to keep a client waiting. Always be the first one to arrive. This is seen as a power move as well as a respectful one. If the client turns up and sees you sitting down waiting for them, it almost puts them on the back foot. Subconsciously, they feel like they owe you something because they made you wait.
It’s also a challenge for your brand image if you turn up late - especially if your clients are from an older generation. A client that has to wait is not going to be a happy one. Before you’ve even uttered a word, they’ve got negative thoughts about the meeting. It’s hard, but not impossible to turn them around after this.
Lastly, no matter what freelance services you provide, you’ll always need to research the potential client before you meet them. This is particularly important if they want you to work on a specific project. They’ll mention what this is before the meeting, so you can do as much research as possible.
Bring your research to the meeting to showcase what you’ve done. It’s a very proactive way of approaching things. You can provide samples of work to show what you’ll do if you take the project. For example, imagine you’re a graphic designer and the client wants you to reinvent their brand image with new logos, etc. Research everything and come to the meeting with a few logo designs and text samples. It shows them that you know what you’re doing and are extremely professional.
Follow these tips and you’ll come across as a professional freelancer who knows their stuff and is prompt and reliable. You’re putting good thoughts into the prospect's head, increasing the chances of sealing the deal and creating a strong start to a lasting client relationship.
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.
Some people are born to take on creative roles and others struggle to fit in with the confines of a traditional job. I've said it before and I'll say it until I die - we are ALL creative. But not all creatives are entrepreneurs.
For people who embrace their creative impulses, it can seem like you were always destined to pursue a different career path from the rest of society. Many people with a natural creative flair find themselves setting their own work agenda. Creative people may find their ideal role as an entrepreneur or freelancer, which allows them to work without the constraints of a traditional nine-to-five setup or to enjoy the flexibility of working to their own schedule. This may sound like the ideal way to work, but it can be challenging to keep your creativity flowing. Others, still, may only choose to pursue their creative endeavors as a hobby.
Many creative people find that they hit a stumbling block from time to time. This may mean that there are periods where they struggle to be productive and find that their creativity seems to have all but disappeared. So, what can be done when this situation strikes? Feeling that your creative juices have stopped flowing can be frustrating and pretty worrying when it is your income source. Take a look at these tips to help you recapture your creativity and regain your productivity:
When you feel stuck in a rut, and your creativity has come to a standstill, it is helpful to remove yourself from the situation. Whether you are a writer, an artist, a designer, or have an entirely different creative role, getting a change of scenery can be a big help.
Moving yourself away from the distractions of your daily life can provide you with the breathing space you need to regain your creativity. This could mean taking a break at a resort near Nashville or taking a trip to the coast. Whether you stay away for one night or a few, you should find that creating this distance is a great help.
When you use your creativity to generate your income, it is only natural that you want to deliver the best work every time. When your business and reputation depend on your creative abilities, it can be even more challenging when your creativity dries up. While this is never an easy situation, it can be helpful to ease the pressure on yourself. Putting yourself under excessive pressure to be perfect will only cause your creativity to dry up. Instead, it can be helpful to let go of this pressure and to be kinder to yourself.
Rather than trying to create your best work, it can be helpful to simply focus on creating some work. This means your work does not need to be perfect; you simply need to create something.
The work you produce may be incomplete, messy, or even nonsensical. However, the important thing is that you got started and produced something. This work then provides you with a foundation to work on, safe in the knowledge that your creativity will soon start to flow again.
(Image licensed under Pexels CC0 License)
CC0 Licensed Image Courtesy of Pexels
It can be hard to find suppliers when starting a new business. Often times, particularly for product-based businesses, you've got to contend with minimum orders, set-up fees, and prototyping costs. That can be a big hurdle. The suppliers you use contribute directly to how well your business grows. Here are a few places to look:
Trade shows are one of the best ways to find what you need. There are usually products on display, so you can get up close with the samples and see if they fit what you need. Check the industry perodicals in your niche to find out when there are exhibitions. You should also check for attendance by industry leaders such as LOC Scientific for specialist products, such as lab design. You can often get a list of attendees far in advance when you book. If the people you think you might want to work with aren't there, it's probably not worth attending.
If you're a local business, you may rely on local support. And it helps to give something back by supporting other local businesses. Business-specific trade directories are a great way to find local suppliers. And the best thing about these is that they are very easy to find compared to using a search engine. A directory is often niche-specific, so you typically don't get convoluted results. Additionally, there is no ranking system or algorithm, so all are listed regardless.
Of course, Google and other search engines can be a great way to find suppliers. And they are also free, unlike some directory services. Any business worth using will have an online presence with at least a website. However, because of the way search engine algorithms work, it can be hard to find what you need. So, you must use keywords correctly when looking for a local supplier. And don't forget to read reviews and testimonials carefully before using a company.
Word of mouth is a very powerful thing in business. Most people will trust what others say about a service. So, much so that a survey of 40,000 consumers found that 80% use a business based on what others say. And today, social media is also a powerful tool for this. Most businesses and suppliers will have a social media account. So look at what others are saying. You can even use specific hashtags such as #LocalSupplier to find a supplier you need.
The web is full of data. And there are some sites that offer a quick snapshot of a specific business. So you can check these when looking for a supplier. Sites such as Clutch also rank local businesses and suppliers according to certain metrics. Or you can use industry-specific ranking sites. For example, Lumanity can help you find solutions for medical and healthcare supplies. These sites often only recommend and support the very best in your chosen industry.
There are a variety of ways to find the suppliers to get your business growing. Attending trade shows is great for networking; Google can give you quick results, and you can also use industry-specific reports. Above all, however, make sure that the people you're doing business with are a good fit for the mission, values, and purpose of your business. There's nothing worse than enlisting the support of a vendor who turns out to be problematic to your business or the world at large. Do your due diligence and build something you're really proud of!
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.
