Published By Janet Gershen-Siegel at November 22nd, 2019
Our researchers at Credit Suite found these ten great business tips for you! Be fierce and score in business with the best tips around the web. You can use them today and see fast results. Business delegating is going to save you time, money, and mental bandwidth.
Start powering up your business and celebrating as your business fulfills its promise.
And these brilliant business tips are all here for free! So settle in and scoop up these tantalizing goodies before your competition does!
Our first tip is all about boosting sales and revenues. Young Upstarts says there is an actual difference between sales and revenue. The difference is as follows. Sales is the numerical total of the products sold, while revenue is the total amount of cash which was taken in because of the sales.
One tip we really loved was all about prices.
Prices should not be written in stone tablets, never to be changed.
So check out what your competitors are doing. It may be better to lower your prices rather than raise them, by the way. A lower price can keep your products, and thereby your company, competitive. And raising your prices can help your business make more money with fewer sales or at least without having to increase your sales.
Whichever way works, be intentional about it. We are big, big fans of metrics and data here. So don’t change your prices without concrete support from unshakeable numbers.
The next tip is about avoiding buyer churn. LinkedIn notes that technology, unsurprisingly, can come to your rescue.
Churn is when you lose customers for some reason or another. A subscription service might see people cancel. A local shop could see people move out of the area. And an online business might find their customers are surfing elsewhere.
So, why are customers leaving?
Understanding why customers jump ship is key to preventing more defections. And it all comes from – surprise! – data. Many customers leave because they perceive a disorganization in a business, or a lack of service – or both. Better technology can help with both. Make your business decisions with objective data, not subjective anecdotes.
Our following tip concerns customer-centric selling. Help Scout lays it all out for us.
Our favorite tip from this article was the part about leading with curiosity. But what, precisely, does that mean?
Imagine you’re selling television sets. You can just sell the TV and be done with it. Or you can engage the customer in some conversation where you ask curious-style questions:
You get the idea.
Your mission in sales is to put yourself in your prospect’s shoes. This means wanting to know what they know. And it means trying to learn the things they need to know but don’t know yet.
For our next tip, we looked at overcoming the harmful health effects of an office job. Effortless HR says that there are ways to incorporate some exercise into your day – and that will help to preserve your health.
We kind of liked the idea of making office calls. But we want to take it one step further.
So it’s time for a true story.
Back in the day (early in this century), your intrepid blog writer worked for a major publishing company right in the city. This was a job I used to get to via public transportation. I would also add more exercise to my day by getting off at a bus stop before the one I was supposed to get off at.
Then there was mentoring.
I signed up for this (I was the oldest person who did, by far!) because I knew so little about the publishing industry when I was hired. This woman turned out to be within 10 years of my age, and we got along famously. But the best part was suggesting to her that, weather permitting, we walk for our meetings.
And so we did! We saw a lot more of the city than most people do, while still getting done what we needed to do.
Will a walking meeting work for you? Maybe for a short meeting where it’s not expected a lot of notes will be taken. Try it. What have you got to lose?
This tip is so smart, and it works! Indeed tells us all about bringing back work-life balance and getting off the overworking train.
Here’s our favorite tip from the article – although we highly recommend reading the whole thing.
You’re the boss. You set the tone. And if you work late every night, guess what happens? A lot of your employees will feel the need to do the same. And if you call or text them at all hours, then they will feel the need to be available to you, 24/7.
True story – your intrepid blog writer has been friends for years with a woman who had a boss who would do both. And this boss would also call at 2 AM, screaming for my friend to do this or that. It was a marketing job. The vast, vast majority of marketing activities are not emergencies. And this was before the internet, so it wasn’t a social media crisis.
That’s nasty. It’s unfair. And it’s borderline abusive.
Maybe not even borderline.
And my own job several years ago was a place where we were all expected to work late. But I wasn’t getting a lot of work! Rather than sitting around, I took the train home. And that was apparently the 100% wrong thing to do.
I was out of there, fast.
Don’t do that to your employees, or to yourself. Unless you’re curing cancer, working as an air traffic controller, or taking care of the people on the International Space Station, your business is important, yes. But it’s not so vital that you can’t take time off and live life outside of it.
Grab this tip while it’s hot!
You don’t have to go it alone. Business delegating is where it’s at.
The Self-Employed says it’s possible to delegate tasks even if they are tasks requiring a lot of skill. It’s all about maintaining relationships.
It’s possible to delegate tasks even if you’re a sole proprietor. Just keep a list of skilled, competent, reliable professionals.
In fact, your value is far more than nothing! Of course, you know this intellectually. But the bottom line is that adding yet another task onto your plate is probably going to cost you money.
Still, what, precisely, is your time worth?
If you’ve been recently employed, consider that figure. And think about what you pay yourself (you do pay yourself, right?) and the kind of time you put in. But there’s more, particularly if you haven’t recently been employed anywhere but in your own business. Here are the details.
Think about what was the last big sale you made or account you landed? Got that in your mind? Good!
How much was it worth? And how long did it take to get it? This is everything from research to calls to perhaps visits, advertising, you name it.
Divide the amount of that big sale or account by the number of hours and set that figure aside. Do this again for a few more so you have a few numbers. Now average those numbers. More or less, that’s your hourly value.
So if it took you 100 hours to land a $10,000 sale, then your time is worth $100 per hour.
See why doing the filing is an expensive proposition which you should delegate to someone else?
Do you do your business’s taxes? Payroll? Hiring? There comes a time in every successful business’s life when you stop doing that and you do some business delegating. You send the first two tasks to accountants. You send the last one to an HR professional. You get out of doing those things and you go back to what you do best – landing deals to buy widgets or whatever.
And don’t forget this. Your value should rise, commensurate with your experience, your time in business, and the size of the deals and sales you land. That $100 per hour might turn into $500 or even $5,000 per hour.
Engage in business delegating and save money – and your own time.
Check out this tip, all about better focusing your content. Copy Blogger notes that meandering content doesn’t do you any favors.
Their best tip was to let first drafts sit and then edit the hell out of them. But what if you can’t? You might have a certain minimum word count and you just made it, so cutting even one word is too many. Or maybe there’s very little time.
C’mere, and I’ll tell you a secret.
Everyone’s on a deadline.
But here’s how to do the editing dance when there’s very little time or wiggle room with words.
Is there more than one writer in your company? Then have them switch off and edit each other’s work. This will get the editing done, and in less time. It’s a lot easier to spot errors – and forgive them – when they aren’t your errors.
Only got one writer? Then pair the writer with the employee with the second best writing skills. Not a perfect solution, but not a bad one.
It’s just you? Then do yourself a favor and take a day to start as many blog posts as you can. This is basically just the bare bones outline and no more. How to Paint a Wall. Where to Find the Best Sushi. Whatever your topic is, just write outlines. And then when you do blog, stick with them as if they were gospel. Your article on the best sushi shouldn’t include where to find great barbecue. Keep two questions in mind:
Your outline should address both of these points.
Outlines help to focus your writing, especially if you have no other way to edit. And by getting back to these outlines later, you have let them sit, our favorite tip from this article – to let things sit for at least a day.
It’s not your imagination: this tip can improve your marketing in 2020. Buzz Sumo tells us that we can start the year off right with a few changes.
We highly recommend reading the entire article, as there are some great, detailed ideas in there. But we want to showcase one in particular. Stories.
This isn’t necessary a story in the sense of a beginning, middle, and end with a protagonist and a story arc. Rather, it is an ephemeral form of content. On Instagram and Facebook, for example, the content is just plain gone pretty quickly. But on both places, people love it.
There’s something fun and a little mysterious about getting in on a bit of content that others don’t. We might not have backstage passes and maybe we can’t get past the velvet rope at the club. But we can be on Instagram at the right time to experience a story.
Facebook does this to great effect in a thoroughly noncommercial sense. It does it with birthday stories.
And it’s a brilliant piece of advertising.
By getting people used to stories and giving them a reason to check them out, Facebook is showing consumers that they just might want to check out stories from marketers. And the beauty of it is that Facebook has been Birthday Central for years. Sometimes a birthday greeting is the only communication between two connections in a year. By associating this seemingly necessary thing (remembering a birthday) with stories, Facebook has even created a demand.
And that’s the story!
Our second to last tip can give you a new perspective on readying your business for the holidays. Because they are coming faster than you might think… Score reveals all about getting set for the inevitable.
And we so loved the fact that they led with business delegating!
We loved two of their ideas which can both be done by someone else. Talk about your business delegating.
We’re not talking so much about updating the design. It’s more to make sure that you can handle orders and inquiries. If your website goes slow or stops altogether, you’re going to lose sales. And you might even lose future sales.
It’s a great area where you can practice business delegating, too. You can even hire a professional for a look-see to make sure you’re not overlooking anything big.
After all, most people haven’t started holiday shopping yet. There are probably going to be a lot of folks out there who are more than happy to deal with your website for a few hours or days and get a few bucks in anticipation of holiday bills.
Now we’re talking about something more artistic.
How into the holidays are your workers? Do they watch It’s a Wonderful Life once and then call it a season? Or do they have brackets whereby they pit film and TV Santas against each other to see who comes out on top?
I’m partial to Art Carney myself. Fight me.
Either way, a lot of people are into decorating this time of year. This is a great time and place for business delegating, because it’s more fun that way.
Do your customers, prospects, and non-celebrating employees a favor and don’t make the decorations too religious unless you’re a religious book store or the like. Then have at it! But for most other establishments, snowflakes, bows, and boughs can be festive without excluding anyone.
Same with holiday music. And please don’t make it all Xmas music even if it’s fairly secular! There are plenty of winter tunes which don’t mention the specific holiday at all. Here are a bunch – but they don’t have my personal favorite!
And don’t forget to have fun. You work hard all year. You deserve this.
We saved the best for last. For our favorite tip, we focused on succeeding on Small Business Saturday. It’ll be here a week from this Saturday! The SBA says Small Business Saturday is a terrific way to usher in the holiday season and make some profit. But you need to be ready.
We really loved two specific ideas. One was to leverage local events. That is, if your town is having a tree lighting ceremony, and are a salon, why not hand out little cards with basic skin care tips for the cold weather to the people outside watching the ceremony?
The other idea we loved should be no surprise – keeping track of what works, and what doesn’t. Otherwise, how will you know what to do next year?
So which one of our brilliant business tips was your favorite? And which one will you be implementing now?