It can be a huge blow to your ego when your business isn't performing the way it used to (or the way you think it should). Sometimes there's an obvious external reason (pandemic, anyone?). Sometimes it's not so obvious.
That doesn’t mean there isn’t anything that you can do. Take heart! Here are a few suggestions to turn around the performance of your business.
Admit that you don't know everything. There are things you don't know you don't know and things you KNOW you don't know. I don't know much about Facebook ads - and I know I don't know much about them. But there are other issues in business I've still not faced, so I don't even know they are a thing!
Some times you have to give way to others who know more, have more experience, and can guide you to make more confident decisions. You don't hire a plumber to do brain surgery, right? Maybe you need an accountant who knows what book value is to help you as you prepare for an IPO. Or maybe you need a marketing pro who understands how to attract your target audience to your business. There comes a time in every business when you need experienced and dedicated professionals to help.
Here at Creative Freedom HQ, I hold regular meetings with each of my team members to make sure we're all on the same page, and to ensure that the right people are focused on the right things inside our company. While I don't have employees, and don't do employee reviews, per se. I've done them in the past when I did have an employee.
Reviews help everyone know what the expectations are and whether or not folks are meeting those expectations. It gives you a chance to head problems off earlier and recognize your team members for a job well done. Many employees want that kind of feedback and some find recognition as important as compensation. Keep that in mind when you're building out your support team.
If you want to fix the problem, you have got to find the root of the issue. You can’t just go around putting random solutions in place in the hopes that one of them will fix it. While you might get lucky once or twice, you won’t know what the problem is, so if it happens again, you still won’t know what to do. Identify where things are going wrong so that you can take the correct steps, and do this by going through your business with a fine tooth comb. You will find it, we guarantee you, it just might take a while.
This isn't an exhaustive list, but it's a place to start. There are plenty of solutions that can work, you just have to experiment to find your groove. Ultimately, that's part of business: experiment and see what works, iterate, and do it again.
Launching a business is just the beginning of things. Like launching a rocket into space, you can't just take off and trust things will be okay. You need to keep things running smoothly, course correct and keep it on track to reach your destination. In business, that "destination" can be a moving target, so it's even more important to manage it successfully.
Your brand reputation is a key piece of that, as your business grows. It's one of the best ways to build credibility and generate more interest from paying customers. A great brand can set rates higher than the average and people gladly pay it. Don't believe me? Look at Starbucks and Apple. No one was going to pay those prices for what they offer... until someone did!
If you're looking to bolster your brand, then it's important to do what you can to stand out in meaningful ways. It's also important to focus on excellence to become a market leader. Wanting to become a market leader is not the same as actually becoming one, and making confident decisions goes a long way in this. Here are some ideas to help boost your brand right now.
Hiring creative thinkers is a great way of being able to make your company stand out and grow over the year. A recent article from the Harvard Business School highlights the importance of creativity in business. Your team (even if it's just freelancers right now) needs to be thinking differently if you want to be remarkable. That doesn't mean every idea will be a winner, but giving creative thinkers and talented individuals who think outside the box room to experiment often leads to exciting and innovative developments that help you stand out.
You have to try to think about keeping your focus on innovation as a modern company. The best way of being able to stand out and improve your brand is to try to innovate as much as you can. This means you have to make sure you consider some of the best ways of approaching business with a difference. Standing out and thinking about your unique selling point is one of the best ways of achieving success. And you need to try to put innovation front and center when you are trying to bolster your brand and make the key choices moving forward.
Providing a great customer experience is one of the best things that you can do when looking to improve your company. There are a lot of things that you should be looking to improve upon and the best way to do this is to make sure you focus on providing a great customer experience (this agency offers some ideas). People like to feel valued by businesses, and this means that your company should be focused on trying to provide the ultimate experience. Put yourself in the customer's shoes and think about how you can enhance things for them, and make their dealings with your business more enjoyable and exciting.
There are plenty of ways to boost your brand reputation. It's not a nice-to-have; it's an imperative if you want to be memorable and stay on the radar of your Raving Fans.
Streamlining your business processes doesn't happen overnight, and it might take some time to get it right. What is essential is that you understand there are plenty of benefits to be had once these workflows are improved.
There are a couple of important places to improve and streamline your business processes. In the meantime, here are some quick ways to make that happen.
Before you start making any changes, you need to assess all current workflows and processes. This will give you a better idea and understanding of what you need to do and the areas that could be hugely improved by streamlining.
You might be surprised just how many workflow processes you have within your business daily. But what you can do is make a ranked list of which one of the most important and which ones are the least important. This will give you the best idea of where you can start with your streamlining.
Where can you make simple streamlining changes?
Almost all businesses can benefit from outsourcing. You can outsource your entire IT support, marketing, and social media.
When outsourcing is done, you can help your business run more efficiently and grow steadily.
Outsourcing can assist small businesses to have easy to manage finances. It can also aid in containing the rising operational expenditures of specific departments inside larger corporations.
If you think a part of your business could be more efficient, define the need and intended objectives, then look into possible solutions.
Gone are the days but all of your finances for your business should be handled personally. There are many different options for creating invoices dealing with your accounts payable and more. Companies like OnPay Solutions can help you manage many of your financial processes.
We don't often consider paper usage is slow in any process; however, reducing your paper usage is one of the fastest ways to streamline your business. Paperwork can pile up quickly, increasing waiting times for your customers and internal requirements.
Take a look at what information you have on the paperwork and why it's needed. Could that paperwork have been created in a digital file? Is the paperwork important for the current job?
The easiest way to reduce your paper usage is to employ a document management solution. This can help put all of the information at your employees' fingertips at all times.
Document management systems usually have an easy-to-use platform that is simple to train all of your staff. This means that no matter what device they use, they will have access to the documentation they need.
Do you need to travel back and forth between the office on your home? Or do you need to see all of your clients face-to-face? Often it is more convenient and much more efficient to have an online zoom or Microsoft teams meeting. So long as you list all the points you want to cover, this can be the fastest way to have a high-quality meeting.
Your business is growing, and you've outgrown your shared hosting plan. It's time to look for a new hosting service. But, with all of the options available, how do you choose the right one? This blog post will discuss what to look for when selecting a hosting service for your business. We'll cover factors such as price, features, and customer support. By the end of this post, you will know exactly what to look for when making your decision!
One of the most important factors to consider when choosing a hosting service is price. You want to find a plan that fits your budget but doesn't sacrifice quality or features. There are various programs available, so be sure to shop around and compare prices before making your decision.
Another essential factor to consider is features. When choosing a hosting service, be sure to ask about the features included in their plans. Some features that you may want to look for include: Website builders and templates, domain registration or transfer options email accounts included in plans.
This feature allows you to edit, move and create files directly on the server without using an FTP client or any other tool. A file manager will significantly simplify your website maintenance process; therefore, it's a must-have feature if you don't have any technical knowledge.
One of the most critical factors you'll want to consider when choosing a hosting service for your business is their uptime guarantee. You'll want to make sure that your site is always up and running to avoid losing any potential customers. The best providers will offer a 99% or higher uptime guarantee, so be sure to ask about this before signing up. Also, be sure to look for a reliable provider before making your final decision. Check it out here.
Another critical factor to consider is the amount of bandwidth and storage that your hosting service will offer you. This will determine how much traffic your site can handle and how much data you can store. Be sure to ask about these specs before signing up so you don't end up with a package that is not big enough for your website. On the other hand, if you have a large site or expect to have one in the future, it might be worth paying extra for additional bandwidth and storage upfront.
Nobody wants to see their "under construction" page all the time! For this reason, reliability should be an essential factor when considering a hosting service. Look for a company with a good track record and customer reviews to ensure your site is up and running when you need it.
When something goes wrong (which, let's face it, it always does eventually), you'll want to know that you can get help from someone who knows what they're doing. Make sure to ask about the hosting company's customer service policies and procedures. How quickly do they respond to support tickets? What kind of support do they offer (phone, email, chat)? Are there any extra fees for support services?
In conclusion, when choosing a hosting service for your business, be sure to consider the features and options that are important to you. There are various hosting services available, so take your time to research the different providers and find one that fits your needs. By doing so, you can ensure that your website is always up and running, which will help improve your business's online presence.
Some people think starting a business is glamourous. 10 minutes on social and you'll see feeds filled with the bro-marketing “aesthetic”: people in fancy suits, sitting in first class, suave-looking desk setups. Or worse: sitting in rented Lambos flashing a wad of cash on a million-dollar estate in the Hamptons or something. The reality of business for most entrepreneurs couldn't be further from this "truth".
Starting up and running a business is one of the most difficult but rewarding journeys anyone can experience in their life. It’s a road filled with so much stress but there are plenty of other truths when it comes to running a business. So here are some of the harsh realities of being a business owner.
A lot of people want to escape the whole 9 to 5 job in the hopes of making it big and working fewer hours as a business owner. While some business owners will get to that point within their career, it’s not always like that. You will be working longer hours when you’re owning your own business, it’s a job that essentially never stops. You may eventually feel burnout and grow tired but even then, you’ll need to tough it out and just deal with it.
The journey of starting a business is a bumpy road. It can be hard to even determine where to begin and how to begin at that. While a business all starts with an idea, it’s the next steps that can be the challenging part. There needs to be a lot of research such as technology and media businesses for sale, but also trying to determine where the capital will come from for the investment of the business.
Other questions may include where to find suppliers, how to market the business, and how to find good employees. Just be prepared to be overwhelmed at the very beginning, but understand that is completely natural.
Entrepreneurs just starting out often tend to overestimate their own abilities. If you’re wanting to avoid the whole scenario of figuring out how to turn your struggling business around then it’s very important to just be realistic with yourself. While it’s nice to believe that you can do anything that you put your mind to, this mentality can also be what sets you up for failure. So it’s very important to just be realistic with yourself and avoid biting off more than you can chew.
Business owners will go through tough times, such tough times that they will be on the verge of quitting their business. There is a very high chance you’ll have this happen to you as well. While it may sound very grim, it is the reality of being a business owner. There will be times when you’re going to just want to get up and walk away from owning a business but there will be other times where you’ll fall in love with your business all over again. It all comes in waves and they’re usually unexpected.
If you've been thinking about launching your big dream into the world, join us in the Creative Freedom Incubator. With coaching support and hands-on help, you'll have a profitable sustainable business doing what you love without having to sell your soul to do it. A new co-hort is enrolling for next month, but space it limited. Let the Incubator help you build a business that works for the way you're wired to work!
When you're running your small business, it is tempting to take care of every aspect for yourself. After all, the business is your baby. However, taking this approach could be the most harmful thing you could ever do.
You quickly learn that employees are needed to keep productivity levels at the desired standard. If you truly want to unlock the full potential of the company, though, you must also consider outside help in other aspects of the venture. Here’s why:
Outside Help Saves Money
Every business decision is a financial decision. The fact is that outsourcing certain jobs can save money on staffing while also reducing operational costs. You can find everything from graphic designers, virtual support, and fractional managers for contract roles. If you have a smaller budget, there's also plenty of help to find in the gig economy. Meanwhile, outsourced IT services and customer care are often deemed great solutions. Aside from saving money, it means you can dedicate more time to your on-site teams.
For a small business, it can be an ideal solution when you don’t need permanent workers.
External Voices Market Your Business In Style
Nobody knows the business like you. Still, you won’t always be the best person to promote it. You do not view it in the same way that a client does. As such, your vision of the company may not align with theirs. Social media strategies are very important in reaching modern audiences. And creating more touchpoints. Teaming up with social influencers will enable you to unlock its full potential. It gives the company a more exciting vibe.
Moreover, the words of outsiders will carry more weight than self-promotion.
You’re Not An Expert In All Aspects Of Business
To achieve the best results in business, you need the time, resources, and experience. The chances of you displaying all of those features in all aspects of business are slim. A business coach or consultant can advise your company on where upgrades can be made. This will empower your workforce and ensure that the company is efficient with both time and money. This guidance can transform the company forever.
You can also leverage the expertise of outside firms to handle repetitive tasks as you focus on keeping business going. For instance, a commercial real estate brokerage will research new property demands, schedule property visits, and verify local zoning and restrictions. They can also negotiate on your behalf since they have the expertise on elements to be included in your contract based on your type of business.
It Gives You Confidence
When you try to do it all alone, you will inevitably doubt many of your business decisions. Conversely, when you have had workers and business partners have their opinion too, it helps you act with confidence. It is a move that is further supported by market research and data analytics. In today’s market, working on instinct alone simply won’t suffice because the world evolves at speed. Teamwork with experts in their fields will be key.
It will also reduce your stress levels, particularly when taking a vacation from work.
It Opens New Opportunities
Even if the company is performing OK today, you should have aspirations to grow. The fact is that reaching out for help is often the best way to expand. Turning the company into a franchise, for example, can completely transform your future. Better still, it requires very little work from you after the initial development. And once the blueprint is in place, it can be utilized time and time again. The sky is truly the limit.
Conversely, trying to run multiple venues by yourself would probably spell disaster.
We like to think that we push ourselves forward, and we always strive to meet our potential.
But actually, many of us are holding ourselves back. Hiding an incredible business idea, something we have been passionate about it for years - because we can’t make time, or we are afraid to explore our own potential.
It’s time to put all of that aside, though. It’s time for you to stop holding yourself back.
Start making notes and sketches, slowly pull your business plan together - let yourself get excited about your idea. Envision bringing it to life - and what that would feel like.
Talk to the people you will need to get your idea off the ground, from web design companies like WebX360 to social media gurus - who will you need on your team to make your dream work?
Here are just a few ways that we stand in our own way.
When you put everyone else before yourself, it can lead to your feeling resentful - not only of others but of yourself. Not everyone around you needs to be happy at all times, and it is not your job to make it so.
If you are guilty of needing to be liked - you are a people pleaser, and people-pleasing can mean we put what we want on the backburner.
Next time somebody does something you don't like or asks you to get involved in a situation you're uncomfortable with, start to say no. Make sure you protect your own time.
Nobody likes to fail; however, failure isn’t enough to put everyone off. Some go-getters will fail and won’t even break their stride.
But if you are more inclined not to try anything at all just in case you fail, you’re holding yourself back. You are hindering yourself by avoiding risks in a bid to stay ‘safe.’
Often the worst-case scenario in our minds is nowhere near as bad as how the situation plays out, and in the end, we all fail from time to time.
What is important is that you can learn from these failures and move forward. Failing forward can be a positive learning experience when it comes to business.
There is a big difference between telling yourself you can do better and being too hard on yourself. It is often said that we are our own worst critics - if that rings true for you, then it’s time to take it easy.
You can improve on what you are already doing slowly and with care. But if you keep criticizing yourself and putting yourself down, you will expect the same from other people. You are stopping you before you even start.
If you want to reach your goals, you need to work on your self-esteem and confidence.
You should not be afraid to fail, and you should know that if the only thing holding you back is you, it's time to get out of your way.
Do you feel like you are swimming against the grain in a world not built for you? Read more: How To Succeed As A Woman In A Male-Dominated Industry.
Over the past decade or so, the world has gone through a revolution in terms of internet marketing and social media. Nowadays, any business needs social media markets as a primary tenant of its overall marketing strategy. The fact is, social media gives businesses unprecedented access to customer data that was previously unheard of. It allows you to generate insights that can further boost your marketing strategy and develop a better understanding of your key customers. The fact is, by knowing your customer, you can connect with them and show how you add value to their lives. Let’s take a look at how social media can boost your business.
Humanizes your Brand
One of the great things about social media is that it is social. By having an account, customers can engage with you and have real conversations and debates, which gives you the chance to show your human side, build trust and loyalty. Before social media, contact with organizations was limited, but now that has completely changed. Anyone from anywhere can ask you a question or make comments, both good and bad. However, every comment, no matter what the content, is an opportunity for you to show your human side. The best course of action is to comment quickly and appropriately, try not to ignore a bad comment. Use this as an opportunity to showcase your humanity, boost your brand, and your caring side. If anything is particulate personal or related to an individual case, offer to continue the conversation in private.
Alignment with Core Values
Posting on special media goes you a chance to tell the world something about your brand personality and its core values. Your branding, in essence, can act as a foundation for all your marketing material, and there is no better place to show the world what our organization is about than by using social media. Posting gives you a chance to stay in contact with your audience and communicate regularly something of importance. Generally speaking, the best posts are ones that connect with your target audience in a specific way, be it emotive, thought-provoking, designed for engagement. As long as each post’s key message has a background within the core values of the brand itself, it will come across as authentic, and this again helps you build trust and loyalty.
Insights
Social media is a great way to garner insights into your customer and the success of any given post. The engagement you get is valuable as all this can add to your understanding of your key customer. You can create polls if you want to learn about attitudes to certain things too. Moreover, by developing KPIs (key performance indicators) and using technology such as ai corporate solutions, you can better understand the success of certain posts, which will help you create better and more targeting marketing material going forward. Before you post on social media, you can set the right KPIs to monitor its success and see if it achieved what you wanted it to.
Conclusion
Social media is becoming more essential for a business's overall marketing strategy. Without social media, a company will fall behind its competitors and will be unable to connect with its key customers in any meaningful way.
The goal of any business is to make money. The more money your company makes, the more opportunity you have for success in the future. Many people view this concept as a motivator to work hard to increase profits. However, they are often unclear what measures are necessary. This article will offer three practical ways to maximize your profit margins.
Before you can establish high-profit margins, you must take steps to maximize the amount of money you are capable of making. Many businesses mistake selling their goods or services at a low price to generate more profits. They lose money in the long run because their clients will always want their services or products at lower costs.
The solution focuses on the price you plan to charge before making your product or service. That way, you can create a budget that works well for you.
Another common mistake many businesses make is underestimating how much money they will need to run their operation. Many small companies make the mistake of starting their project with only a tiny amount of capital at their disposal.
The result of this practice is higher overhead costs than they had anticipated. They end up spending more money than they are earning, and as a result, their profit margins remain low. Some companies pay more than necessary because they do not know how much capital they need to get their business off the ground.
To avoid this issue, you need to create an accurate budget that accounts for all business expenses before you begin making sales. By doing so, you will produce a profit that exceeds your expectations.
Implementing new equipment and machinery can be essential to increasing the profit margin in your business. If you have been running a small business for some time, it might be time to upgrade your current equipment and get a raise in operational efficiency. There is no reason you cannot start selling more of your products than you are currently doing.
In addition, purchasing new tools is essential for many industries. For example, creating a building that requires shelving for inventory requires more than just making the structure itself. You will also need racks, wire cages, and other supplies that make the process more efficient.
On the other hand, buying new equipment can be a costly decision. Be sure to do as much research as possible to ensure you are getting good value for your money. Compare prices from different suppliers to find the best bargain. You can also search online for new suppliers of equipment. Once you have found a company that offers quality products at reasonable prices, purchase what you need and pay them when the invoice arrives. If you need professional advice, view this page of this site to access some of the best real estate agents.
These steps can help you establish high-profit margins in your business. Be sure to consider each of them before making a product or service for sale. Doing so can help you increase profits and grow your noble empire. The goal of any business is to make money. The more money your company makes, the more opportunity you have for success in the future.
However, you need to develop a solid plan and implement it as soon as possible. Take the time to consider these tried-and-true tips that will help your business grow faster and produce higher profits with less investment.
While things are getting better, there are still some careers and industries that are dominated by men, and it can be hard to fit into these as a woman. Whether you’re starting your own business in an industry like construction, finance, or trucking, or working at a company with mostly men, it can be tough, and people aren’t always welcoming. In a lot of industries, there is still a strong bias towards men and the male way of doing things.
Developing a few traits and habits can be very helpful to make your way in the working world as a woman in a male-dominated industry.
Learn to be assertive at work. It can be hard to make yourself heard as a woman in a male-dominated industry, even when you own the business! To do it, you need to learn not to let other people speak over you or interrupt you. That doesn’t mean that you need to be rude or interrupt yourself, but it does sometimes mean insisting on having your say. It can help to build your own knowledge, so you have confidence in what you’re saying. This might mean taking a training course, spending time on the building site yourself to understand the different jobs, deciding to purchase International Truck service manuals to get familiar with the proper operation and maintenance for your logistics company vehicles, or finding a mentor in your industry.
Nothing can generate goodwill or build morale as successfully among employees as a positive attitude. Think about your past victories, not your defeats, and focus on the milestones that you are set to achieve in the future.
Keep on top of the news in your industry every day. Take advantage of things like relevant seminars and continuing education classes that you can. Stay on your toes and make sure you stay informed. Staying informed will make you more confident and make sure you are a valuable resource to your staff.
If you find yourself always saying sorry at work, try to get rid of it from your vocabulary. You don’t have to be a pleaser in your career. A lot of people find that always saying sorry, especially when you’re not actually at fault, can undermine your ability to communicate with others. Some people think it’s better not to say it at all. If you’re always trying to please others, you’re more likely to be walked over than appreciated. You want people to respect you. Being liked is just a bonus.
This can be a tough line to walk as a boss. Many entrepreneurs struggle to give responsibility to others and often worry more about whether the team they have built up for their business likes them than whether or not they’re a good leader. Try to remember that as a company owner, your job is not to be a friend to your employees. You’re in charge, and they need to trust and respect you. If they like you as well, great, but if they don’t, it’s doesn’t really matter.
This doesn’t mean you need to be combative or always looking to avoid conflict. When a conflict does arise, try to be positive and look forward. How can you move past the conflict? Never attack someone personally, and don’t allow anyone to attack you either. Stay focused on the issue at hand. Be careful not to talk to your staff or send emails when you’re angry, or read emotion or tone into emails where there isn’t any. Let go of any grudges you’ve been carrying around.
There are lots of fantastic opportunities out there to meet other women in your industry. Take advantage of these opportunities to build camaraderie, find mentors, and network with other women in your industry. You can go to more general events, or join specific associations for your industry, such as the Association For Women In Science. Look for these options and take advantage of them. It can be helpful to know people who understand your struggles, can provide advice, and be useful links for you as your business moves forward.
Be ethical. This one might sound obvious, as we’ve all been taught some variation of this rule as children, whether it’s by putting out good vibes into the world or generating good karma, but it’s not uncommon for this rule to be ignored or forgotten. It’s discouraging to learn that women often tend to be harder on other women leaders in their industry than they are on male leaders, perhaps due to a sense of competition. Many women say they prefer a male boss. Remember, it’s not weak to be kind or agreeable. Women who treat others fairly will be happier and more productive employees or leaders.
It takes a certain amount of confidence and communication to be able to speak to investors, shareholders, and other leaders in your industry. It might help your confidence to have relevant qualifications, but it is a great time to be a women entrepreneur. Top companies are still largely owned by men, but more and more women are becoming business owners. Remember why you decided to start a business in the first place, and remember that you already have the tools to succeed.
The last few generations have been able to bring more women into the workforce and into leadership roles across many industries. We’ve come a long way, but there is still a long way to go.
Working to bring other women into leadership positions in your business is an important way to make the changes that we need to open up opportunities for others. Its also true that most critical change starts with shaping ourselves, the area where we have the most control. Cultivating the characteristics in this article should help you.
