Who has time to spend all day on the phone? Chances are good that, as the owner of a brand new business, you’re pretty busy during the day. You may have time for a social or business call here and there, but you probably don’t want to spend any more time on your cell phone or land line than you absolutely have to. There is plenty of work to be done, most of which needs your immediate personal attention. You may not even be the best candidate for the job of customer service representative. Not everyone is cut out for such a position. In any case, you need to make a timely change. 

 

If You Don’t Want to Spend All Day on the Phone, Outsource Your Calls 

If you feel that your time and energy could be spent on other places than the phone, it’s time to outsource your call center services to a trusted professional. This is the move you need to make if you find that your important daily activities are being neglected while you chat on the phone. There are plenty of others who would like nothing more than to handle with grace and aplomb the various questions, comments, and complaints that your loyal customers need to get off their chests. It’s time to offload the burden of communication so you can get on with your real work.

  Read More It’s Time For You to Get Your Customer Calls Under Control

Productivity

If you haven’t noticed, I recently released a new e-book called The Starter Playbook for Entrepreneurs. This e-book is a prequel to 10 Laws of Power for Entrepreneurs.

Even though I initially wrote this e-book as an appetizer for my book release on December 29th, I noticed during the writing process that the information enclosed was desperately needed by aspiring entrepreneurs who were entering the world of entrepreneurship.

Entrepreneurship is a complex world of many different moving pieces that have to connect together for you to succeed as an entrepreneur.

These pieces include: product development, customer service, sales, marketing, continued learning, networking, positioning, and many other different aspects that go into building a successful business.

Most people fail to connect all these different pieces together because they don’t really understand the entrepreneurial process.

But the only way you can understand this process is by possessing the mindset that enables you to implement the successful habits that develop successful behavior.

Because that’s all that failure or success as an entrepreneur really boils down to — your mindset which influences your behavior.

Read More Download Your E-book Now: The Starter Playbook for Entrepreneurs

Entrepreneurship

If you own a business, you’re probably aware that time never stands still. There’s always movement in the market, and you may find that your sales soar and drop. Most people go into business with a view to expanding their initial venture and growing the company, but how do you know when it’s the right time to take that next step? If you’re considering your next move, here are some signs that you may be ready to expand.

 

You’re turning over a profit

Financing a business is no mean feat. If you’ve got a relatively new company, it can take a long time to cover the costs of getting it off the ground, and you may find that you’re surviving rather than flourishing in the first few years. Although it may be tempting to plow more money into the company, especially if sales are booming, it’s wise to be cautious. Just because you’re bringing money in doesn’t mean that you’ll be in the black and it’s best to wait until you are making a profit to invest more. Keep a close eye on the books and get to a stage where you can afford to finance the next step, or you could put forward a good case to an investor or a bank if you’re thinking of borrowing money.

Image credit https://pixabay.com/en/profit-success-graph-3d-rendering-2395780/

Read More The Time Is Now: Are You Ready To Expand Your Business?

Small Business

Businesses are not made to remain the same. They evolve. They encounter market changes and threats. They grow. They shrink. In short, a business is a living entity that needs to be managed accordingly. Consequently, it is the responsibility of the business owner to fuel it with the best resources: Knowledge, Talent and Investments. However, unfortunately, as it can be the case with an evolving entity, things don’t always change for the best. Sometimes, your business needs to be improved to survive and continue to thrive. In some cases, you hit a point where you can’t move your business further. You can face three options: You could sell your business to secure your financial situation. You could try to improve the business with the right decisions and approach. Or you could close down the company. There’s only one thing left to clarify: When is it right to sell, improve or close a business?

Going out of business

Read More When To Sell, Improve Or Close Your Business

Small Business

Entrepreneurs are likely to see most challenges as opportunities. Since most know well the ups and downs of starting a new business, they also know the kinds of financial issues new companies bring. Among them is the feast or famine cycle of income. New enterprises tend to sell in surges, which often leaves the business owner and contractors with no income for extended periods of time.

The answer to this problem, at least for some hard-working business owners, is to start a second business. The theory, at least initially, is that the sales deficits from each business will be canceled out by the surges from the other. It makes perfect sense, and it even works occasionally. Here are some other reasons why a side business is often a good idea for an entrepreneur.

Practical Education

Selling two different kinds of products presents two entirely different markets and two entirely dissimilar categories of customers. Learning how a new market works and navigating its intricacies is of vital importance to anyone interested in running their own business. Whether it is getting new funding from a site like easychoicelenders.com, finding new talent from an Internet job board or seeking new clients, one of the keys to learning your own primary business is to study the experiences of others. The magnitude of this truth can be measured in the number of business books that are published every year.
Read More Why Every Entrepreneur Should Have a Side Hustle

Entrepreneurship

Many of us now run an online business. It’s no longer just larger companies that have an online presence. Small and medium-sized enterprises focus a lot of their time and money on their online strategies, and many new businesses start solely online, with no form of brick and mortar storefront. The growth of online business means that protecting yourself legally, financially and from cyber-crime is more important than ever. While a large company has lawyers and accountants to look after the financial and legal elements and can handle the costs of cyber-crime, smaller businesses can struggle.

Source

 

If a small company failed to get the right protection and found themselves at the mercy of a cyber-attack, or a lawsuit from a disgruntled customer, they could quickly find the associated costs, not to mention the hit to their reputation, too much to bare. In those all-important early years, this could finish your business before it even has a chance to grow.

 

Manage Customer Data

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If your website takes any information from customers, you must protect it. For some information, such as their email addresses, this can just be a case of not passing their details onto any third parties and ensuring your website is protected. If you take bank information and other sensitive details, you may need further protection.

Read More Protecting Your Online Business

Online Business

Small businesses need to cope with a number of challenges in order to survive and grow in a competitive environment. Excessive regulatory procedures make the situation even more difficult. Tax is a tricky area with several complexities that may be beyond the understanding of a small business owner with little to no financial expertise. Here we explain some of the hurdles that small businesses experience when it comes to accounting, recording and paying taxes.

 Maintaining accurate records

Maintaining accurate accounting records is key to calculating the correct amount of tax liability and filling out the tax returns correctly. For small businesses, this can be a very time-consuming process. Small businesses rarely have the luxury of having an employee dedicated to accounting and bookkeeping. Usually, it is the owner who maintains the books and files the tax return. If the owner is not experienced, it can become very difficult especially as the business grows. This can lead to errors in bookkeeping and calculating the tax liability.

  Read More Tax Hurdles Faced by Small Businesses

Finances