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Category: Business Tips

Goal Setting

Goal Setting & Achieving for Small Business Owners

As a small business owner you wear many hats. You oversee your business, work with clients, and you are in charge of continually moving your company forward. You can’t allow yourself to live life without a purpose or everything will fall apart. In order to have a balanced life, small business owners must learn how to set goals.

Why we should set goals

As a small business owner, you need to determine where your business is going. Do you want to grow? Stay the same? Without solid goals it’s impossible to determine if you’re heading in the right direction.

Another benefit of goal setting is that it can simplify the tough decisions. Because you know where you and your business are headed you can easily determine which paths will help you reach your destination.

Now, all you need to do is learn how to set goals and achieve them.

How to set SMART goals

In order to achieve your goals, you need to come up with a comprehensive plan. There are many methods to help you set goals, but the SMART method is great for helping you see your goal all the way through.

The SMART model has you analyze your goal so you can set better goals.  When writing your goal make sure it is:

  • Specific: Be exact in what your goal is. If it’s too vague you won’t be able to accomplish it.
  • Measurable: How will you define success? You need to be able to track your goal so that you can see progress towards it.
  • Attainable: It’s great to dream big, but make sure that you aren’t over reaching. If you do feel like your goal is unattainable, set smaller goals that will help you reach your final goal.
  • Realistic: Do you have the time, resources and knowledge to accomplish your goal?
  • Time bound: How long will this take you to accomplish? If you don’t see any progress towards your goal you are more likely to give up. Set deadlines and stick to them to accomplish your goal before you run out of steam.

How to achieve your goals

You will never accomplish your goals without devising an action plan, no matter how great of a goal it is.  Small goals are just as important, maybe even more important than, the big goals.

To achieve your goals you need to break them down into actionable steps. Use the SMART method to make smaller goals that will lead you to your ultimate goal. Set due dates and evaluate where you are at consistently.

If you’re planning goals for the company, then get your entire team on board and involved in setting them. When the whole company is involved they feel more invested and will do their best to help.

It’s meant to lead you to success

Goal setting doesn’t have to be a huge production with flow charts and extensive tracking. It’s meant to lead you to success. When you feel overwhelmed by your goals, take a step back and see what you can accomplish quickly that will help re-motivate you and your team. Then pursue that goal fearlessly.

FAQs on Goal Setting & Achieving for Small Business Owners

Why should small business owners set goals?

Setting goals provides direction for your business growth and simplifies decision-making processes by outlining clear objectives.

What is the SMART method for goal setting?

The SMART method emphasizes setting goals that are Specific, Measurable, Attainable, Realistic, and Time-bound to ensure clarity and effectiveness.

How can I ensure my goals are achievable?

Assess whether your goals are realistically attainable based on available resources, time constraints, and your capabilities to ensure success.

What steps can I take to achieve my goals effectively?

Break down your goals into smaller, actionable steps using the SMART method. Involve your team in goal-setting and maintain consistent evaluation and progress tracking.

Is goal setting a complex process?

Goal setting should be purposeful and motivating, not overwhelming. Break down goals into manageable tasks and involve your team to foster motivation and productivity.

How to Protect Your Small Business From Theft

Theft is a major issue for both online and brick-and-mortar businesses
Theft is a major issue for both online and brick-and-mortar businesses. Some types of theft have been around for ages, while new attacks are always popping up, especially due to the Internet. It’s important to protect your business, yourself and your employees from any type of theft. Shoplifting, employee fraud and online threats are the most common types of theft in businesses. Continue reading to learn what to look for and how to prevent these types of theft.

Shoplifting

Shoplifting is the most common type of theft brick-and-mortar shops face. While it’s virtually impossible to eliminate shoplifting there are ways you can decrease it. Keeping an organized store is a great tool because you can easy to notice when something is missing. It’s also critical to train your employees to be on the lookout for shoplifters. These are some common places shoplifters hide merchandise:

  • Shopping bags from another store
  • Bags or purses
  • Strollers
  • Umbrellas
  • Clothing, especially large coats

Security measures like installing cameras can help you spot shoplifters and stop them before you lose anything. For more inexpensive ideas on preventing shoplifting check out this article.

Employee fraud

When you bring employees into your business you’d like to believe they would have you and your business’ best interests at heart, but that isn’t always the case. The best way to stop employee theft is to have a thorough hiring process that not only gives you an idea of someone’s skills but shows their level of integrity. No matter how well you interview your potential employees, those who are going to commit fraud are usually skilled liars and may trick you into thinking they are trustworthy.

A 2014 study on fraud and abuse by the Association of Certified Fraud Examiners (ACFE) warned employers to look for certain red-flag behaviors. The first tip was to listen for employees who are boasting about living above his or her means because they may be taking home more than what you’re paying them. On the flip side, employees who are constantly talking about their financial hardship may be looking for a way to bring in more money, even if they have to do it through theft.

Shopping bags from another store

Online Threats

Businesses in any sector are liable to online threats. In fact, in 2015 43 percent of all cyber attacks targeted small businesses. Most hackers send an email asking for the user to enter information, click on a link or download a file. When the user does any of these things it gives hackers access to the server and allows them to steal money or even personal information. Data breaches also affect your employees and customers, so it is crucial to keep your information safe.

The best way to combat online attacks is, again, through training. Teaching your employees what to look for and that they shouldn’t open, click through or download any type of suspicious email is the first step. Most hackers will target the employee over finances for the company. Make sure whoever is in that position has special training and is especially careful about what emails they open. You should also create an action plan on how your company deals with any attacks.

There are different laws and regulations on what to do if your business has a data breach. Learn more about what you are required to do and the best practices if you are hacked here.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

Your business is always vulnerable to theft from employees, shoplifters or cyber hackers. Check out these tips to protect you and your business no matter where the threat comes from.,/div>

Create a Succession Plan for Your Small Business

How to Create a Succession Plan for Your Small Business

Your small business is up and running with a bright future. You’ve decided to go full force with it and make long-term plans. But you know as well as any other small business owner that things don’t always go as anticipated. Wise entrepreneurs know that a well-developed succession plan can ease the future changes of an evolving business.

What is a Succession Plan?

A succession plan is a written plan for the future of the business. Specifically, it outlines who and how one leader will replace another within the company. Positions of leadership are often filled internally with people who have the potential to improve upon their current position and assume a leadership role.

While it may seem too far out to worry about right now, how you exit your business in the future reveals the character and effectiveness of your business as a whole. Even if you plan to work until the day you die and hand your business down the family line, you’ll still want a plan in place to make the transitions go as smoothly as possible. It’s especially important to have a succession plan in place in the event of a tragedy or unexpected death. What if you had a heart attack tomorrow? What would the future of your business look like?

How to Create a Succession Plan for Your Small Business

  • Assess internal candidates first. A strong succession planning program identifies future leaders within the company and prepares them through mentoring, training, and assignments that stretch them. A study from Booz Allen Hamilton concluded that “over their entire tenures, CEOs appointed from the inside tend to outperform outsiders” when it comes to returns to shareholders.
  • Develop a written criteria for your ideal candidate.  Which characteristics are the “must haves” and which are the “nice to haves”? Try to view your internal candidates as objectively as possible as you run through your written criteria. Obviously your replacement should have strong leadership and organizational skills, but what else? Dig deep as you develop your list.
  • Consider all stakeholders. As you are creating a succession plan for your small business, consider how a change in the leadership will affect the other employees that work for you, as well as your business partner if you have one. Ponder these questions as you create your succession plan:
    • Is there an emergency candidate who could take the reigns if you were to leave tomorrow?
    • Is the company organized enough to ease the transition of a new leader?
    • Is there a seasoned leader in place who is willing to coach a potential successor?
  • Put your succession plan into practice now. Most business owners make it this far and then stop. Your succession plan should be more than a static list of names in your file cabinet. Start preparing your successors now for the future. There is no such thing as a “ready now” candidate; all will need mentoring and training to assume a leadership role. Assign your potential successors tasks that will stretch them, challenge them, and give them responsibility to make important decisions within the company.
  • Refresh as needed. Your succession plan should be a living document that is changed and modified as market conditions and/or strategy change. It should go beyond the traditional position description and delve deeply into both the competencies and experiences required for the next leader. The succession plan can then be used as a tool in grading succession candidates objectively.

Plan for Your Small Business

When in doubt, consult a professional. An accountant or attorney can provide a fresh, objective viewpoint and can advise you on the potential profitability of certain candidates. You can even screen candidates formally with stress tests, aptitude tests, and specific challenges. Creating a solid succession plan now can help ease the transition of changing roles later on.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Protect Your Small Business from Theft

Hiring Seasonal Employees

Plan for Holiday Success by Hiring Seasonal Employees

If your small business is one that gets especially busy during the holiday season, you can plan for success early by hiring seasonal employees. You might be surprised at how a little extra help can boost sales, increase profits, and make your life as a business owner less hectic during an already busy time of year. Here are a few rules that apply when hiring seasonal employees:

  • All labor laws still apply. Laws that cover harassment, discrimination, and workplace health and safety apply to seasonal workers just as they do to any other employee. If you’re not familiar with these, this Employment and Labor Law Guide for small businesses is a good reference point.
  • Consider hiring seasonal employees as contractors. If you’re running an online business and need some help managing your blog or social media accounts, you can hire an independent contractor without actually making them an employee. A contractor normally works as a less  supervised member of your team. Keep in mind, you hire a contractor to do a job for you, but they are not technically your employee. As such, you aren’t required to provide benefits, withhold tax/Medicare/Social Security, or pay unemployment taxes. You also can’t dictate the hours the contractor works. However, you are required to report compensation of $600 or more to the IRS (more on this here). Be sure to outline the details and length of the contract before work begins.
  • You still have to withhold taxes. Despite popular opinion, seasonal employees should not be paid “under the table,” even if you’re just paying them to hang Christmas lights. Part-time and seasonal employees are subject to the same tax withholding rules as the rest of your employees. For details on your tax reporting responsibilities, refer to IRS regulations on part-time or seasonal help.
  • You may want to use a talent management company. These companies can save you big time and money by screening potential employees, taking care of the HR work, and making sure you hire the right fit for your company, even if it’s only for a season.
  • Use the same HR process as your other employees. Don’t be tempted to hire an employee in haste and throw them out on the sales floor on November 15th. Take some time to onboard the employee by offering early training and opportunities for them when things are slow. Additionally, it’s best to follow the same HR hiring process with a seasonal employee as it is a long-term employee.

Whether you’re running a brick and mortar shop, an online business, or offering services of some sort, the holidays are normally a busy time of year. Start the process of hiring seasonal employees early to ensure a seamless start to the holiday season.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Quick Money Management Tips

Quick Money Management Tips to Build Your Business

 

It’s no surprise that one of the top stressors for a small business owner is money management. You don’t have to be a CPA or virtual bookkeeper to understand the basics of your company finances and use that knowledge to build your business. Here are a few quick money management tips you can use to grow your business (and your profit!):

Money Management Tips

  • Separate personal finances from business finances. Not only does this make tax time easier, it helps you know where you’re at throughout the year as well. More tips on this principle here.
  • Understand your balance and income sheet. Ben described these numbers in detail in this video.
  • Set a strict budget and stick to it. The importance of a business budget cannot be overstated. Learn how to plan one in an afternoon.
  • Create a business savings account. A few benefits of a business savings account include: the ability to earn interest, a stockpile of cash that is useful when tax season comes around, a boost in your credit score, fund protection (Business savings accounts are insured by the federal government up to $250,000), and the simple fact that it’s never a bad idea to have a little money saved for a rainy day.
  • Be religious about tracking expenses. Every purchase you make exclusively for your business is tax deductible, which means it lowers your taxable income at the end of the year. You’d be surprised at how small expenses add up over time, which is why tracking every single expense is critical to money management. A few ways to track expenses can be found here.
  • Don’t borrow more than you need. No matter how much profit you think you can turn your business loan into, don’t be tempted to borrow more than necessary. Even if you’re approved for a higher amount, take only what you need to avoid acquiring more debt.
  • Pay bills early. Rather than waiting until bills are due, pay them as soon as you have the money. You’re less likely to spend money on things you don’t need if you simply don’t have the money in your account.
  • Set your salary and pay yourself. The easiest cut to make when you’re the boss and funds are tight is to your own salary. However, this can easily backfire. Here are a few tips on determining your salary as a business owner.
  • Cut costs where you can. From hiring interns to advertising, the ways to cut business costs are endless. Here are 20 ideas to get you started.
  • Give yourself a financial checkup every year. Schedule an entire day to (or a few hours each quarter) to check the balance on all bank accounts, interest rates on your credit cards, monthly bills, subscription fees, and all other expenses. Write it out and analyze the numbers to determine what you can cut out and how you can maximize your profits.
  • Outsource the things that use up your time. No money management technique can save you more than simply managing your time well. Since you’re the brains behind your business, you need to focus your efforts on what makes your business the most profitable. If it’s not graphic design, then find a graphic designer. If it’s not SEO, hire someone to do it. Accounting is a great service to outsource because an accountant can save you time and money.

What are your tried and true money management techniques?

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

8 Life Hacks to Boost Productivity as an Entrepreneur

The elusive “work-life balance” we hear so much about these days…does it exist? Any entrepreneur who doesn’t clock in or out at a 9-5 job knows that time is money, especially when your productivity determines your profitability. Here are 8 genius life hacks to get things done as an entrepreneur on the go:

  1. Follow the two minute rule. David Allen, a time management consultant and best-selling author, developed this rule: “If you determine an action can be done in two minutes, you actually should do it right then because it’ll take longer to organize it and review it than it would be to actually finish it the first time you notice it.” Allen suggests cleaning up your inbox, purging your files, setting up appointments and sending a quick email when you have little windows of time throughout the day. If it will take longer than two minutes, save it for later.
  2. Turn off notifications. Keeping social media and email distractions to an absolute minimum allows you to focus on the task at hand. Set aside specific  times of day to check your email, or check it while on the go.
  3. Define your MITs. Decide what your Most Important Task (or tasks) are and make time to get them done. It’s an age-old rule that is practically foolproof. Give yourself several minutes in the morning or even at night to identify 3-5 important things you have to get done. Even if you don’t accomplish anything else that day, you can feel at ease knowing that you were still productive.
  4. Knock out the most important things in the morning. Speaking of MITs, research shows that morning people are more productive and proactive. Getting your MITs done early sets you on a productive path for the day.
  5. Set deadlines for yourself. Write important dates on the calendar and set the completion dates for large tasks before you even start them. Start on them early so that when problems arise, you can troubleshoot and still be done by the deadline you had originally set. Become your own boss and hold yourself to the timeline you set.
  6. Reward yourself for completing a task. It could be a quick stroll outside, a piece of candy, or a new item of clothing you’ve had your eye on. Treat yourself as you close the book on large projects, and allow that to motivate and inspire you to complete the next task. Hint: Be even more productive by completing an unpleasant but necessary task, and then rewarding yourself with a more enjoyable task that still pertains to your business. Example: finish your SEO or PPC advertising for the day, reward yourself with a product photography session or a new blog post.
  7. Stop trying to multitask. There is a plethora of research behind multi-tasking, and the latest completely debunks the possibility. Constant task-switching develops bad habits and makes it nearly impossible to accomplish any one thing. While multitasking helps us feel accomplished and capable, it also produces more stress hormones and kills overall productivity.
  8. Know when it’s time to call it a day. You know yourself well enough to know when enough is enough. If you’ve been staring at your computer screen for 14 hours and feel like you can’t do any more, don’t. You’ll boost productivity in the long run by staying rested and refreshed.
What hacks have worked to boost your productivity as an entrepreneur? Let us know in the comments!

 

How to Attract the Right Talent for Your Company

How to Attract the Right Talent for Your Company

Attract the Right Talent for Your Company

The size of your budget isn’t the only factor that determines the quality, talent, and caliber of employees your company attracts. There are other ways to find employees who genuinely want to work for you, even if you’re not designing iPhones or promoting Ferraris. Here are a few quick tips on attracting and hiring the top talent in your industry:

  • Look for people who share your passion. Richard Branson, founder of the Virgin Group, advises: “Stop looking to hire people just because they have extraordinary resumes or impressive academic records. Look for people who share your passion.” A great employee catches your vision and is eager to help you make it come to life.
  • Know your purpose. If you truly know your purpose and can express it in an understandable, engaging way, people will be more likely to react to it and identify with it. More and more people are seeking job opportunities that provide a purpose and make a difference, not just a high salary.
  • Boost the company culture. While a day on the job is not all fun and games for most, it doesn’t have to be torture either. Make your business an enjoyable place to work by treating your employees well. Be generous with compliments, flexible when necessary, patient, and kind. Be the boss you’d like to work for. Encourage healthy competition among employees by offering incentives and bonuses, and show your employees that you value health, education, and professional development.
  • Help potential hires envision their future with you. Most talented and driven individuals realize they have to start somewhere, even if it’s the low man on the totem pole, before they can end up where they want to be. Use the interview to shed light on what the future may look like at your company for the employee, even if the company as a whole isn’t quite there yet.
  • Offer a great work environment. You don’t have to have massage chairs and pedicures in the break room to offer an enjoyable place to work. A few plants, a clean color pallet, and lots of natural light goes along way in creating a pleasing work environment. Even a simple offering such as free sodas in the fridge or assigned parking spots can help employees feel valued and more engaged at work.
  • Don’t shy away from the awkward topics in a job posting. State exactly what the potential employee can expect on the job, even if it seems mundane. However, you can still liven up the add by highlighting the fun, interesting ways your company engages with employees and some of the perks they can expect from the job. You may or may not choose to put the compensation in the job listing, but keep in mind that it will obviously come up at some point and you’re probably better off to be upfront about it in order to attract the right talent to begin with.

If you get a few of the right employees on your team and treat them well, word is sure to spread. Become a great employer and you won’t need to offer a six figure salary to have talented individuals beating down the door to work for you.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

cheap advertising tips

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

Now that summer is in full swing and your marketing events are already mapped out, it’s time to execute the plan. Here are a few quick, easy, and CHEAP advertising tips to make your marketing efforts and events amazingly successful this summer.

Gather referrals from happy clients

  • Gather referrals from happy clients and use them as advertisement on social media and your website. Here are a few ideas on soliciting referrals. Take it a step further by rewarding clients who spread the good news about your business by offering them a future discount or small prize.
  • Use social media to your advantage. It’s FREE! Of course, you’ll reach a larger audience with paid social media posts, but you can still reach a huge number of people with thoughtful, quality content. Hint: post a picture with your most important social media announcements. A great image increases people’s willingness to read a piece of content by 80%.
  • Be a comedian. In reference to the tip listed above, skip the stock photos for now and promote your summer business happenings with funny photos of your team. Wear Hawaiian shirts to the office and make a video of everyone sipping snow cones while they work. Be creative and funny and most of all real. (Which is also free, by the way.) Who knows, maybe you’ll even go viral!
  • Offer a freebie. Freebies don’t even have to cost you money. Have a member of your team design a patriotic printable or summer sign to drive traffic to your website. If you’ve got a little cash to spend on summer marketing, set up a lemonade station in your store or throw in a lei with every order you ship out.
  • Use a consistent template to announce events. Design a template that incorporates your logo, and then add the dates and locations of your summer events. This will keep clients in the know about what’s going on with your business this summer, and a consistent template will help them know what they’re looking for when they visit your page for information.
  • Send email blasts before big events. While your announcements on social media may not reach everyone you intend them to, you can be sure that emails will be delivered to who their rightful owner. Craft thoughtful, engaging emails and send them out before each big event with your business this summer.
  • Good ol’ fashioned flyers. Yep, they still work. Print out a massive amount of flyers with information about your event and send an employee out to hang them up all over town.
  • Advertise with your customers, not to your customers. Like this video here. It’s hilarious and original, and promotes Lyft without feeling sale-sy at all. Come up with creative ways to make your business fun and involve customers to help spread the word.

What cheap advertising ideas do you have to engage your customers? Share with us, we’d love to hear!

See part 1 and part 2 of our Summertime Marketing Tips Series.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

How to Protect Your Small Business from Theft

Grow Your Business Through Referrals

Grow Your Business Through Referrals

The single most powerful selling tool for any small business can be summed up in one simple word: REFERRALS. People would rather do business with people they know (or know of) than strangers. That’s how it’s always been. Think about it from the other perspective. When you’re introduced to a new service or product by someone you know and trust, you’re more open to it than you would be if someone had cold called you and asked you to make a purchase. Referrals are an immensely powerful and underused tool for small business owners that can help their sales explode. Here are a few tips on soliciting referrals tactfully and using them to your advantage.

  1. Just ask. Yep, it’s that easy. Except that you can’t just park your social media links on the sidebar of your website and expect that your clients are going to jump on and share your brilliance. Instead, make it personal. If you’re in an email exchange with a client, write a note of genuine gratitude for their support or purchase. At the end, a simple statement of “I’d really appreciate an honest review about your experience on xyx site” can make all the difference. Make sure the timing is right when you ask though. It should be in the midst of delivering excellent customer service or shortly thereafter. Don’t be shy to ask a second time in a later follow-up email if the client said they would and then didn’t follow through.
  2. Make it easy. Most clients won’t jump through hoops to refer you, regardless of how much they love you. Your referral process should be incredibly painless, as in, the click of a button easy. Rather than saying “I’d appreciate if you would hop over to Facebook and leave me a review,” try hyperlinking the text within the email directly to your page.
  3. Set up a reward system. Rather than putting all of your focus on potential newcomers, reward your loyal clients. Give them access to new products, free trials, coupon codes, discounts, cash, or an entry for a large prize for their efforts in referring your business. They’re more likely to continue referring you to people they know.
  4. Give and Take. Don’t expect to receive hundreds of referrals if you aren’t doing your part, too. Put out a good word for the services and products you buy and recognize the hard work of the entrepreneurs behind those businesses as well.
  5. Make it a Habit. Don’t just ask for referrals on clients who are already expressing their love for your product. Make it a habit to solicit a review from every client. Your pitch doesn’t have to sound sales-y either; just make it a quick “hey, if you have a second, let’s connect over on xyz site!”

At the end of the day, referrals are about relationships and people supporting people. Don’t try to buy referrals and don’t get discouraged if you didn’t get a referral where you’d really like one. Slow and steady wins the race–and gets you a lot of great referrals, too!

best social media platforms for small business

How to Choose the Best Social Media Platforms for Small Business

What do you do when consumers are becoming increasingly focused on social media, while your business is still focusing on the awesome product or service you sell? It’s time to get serious about an online marketing plan. In order to get the most bang for your buck online, you’ll need to utilize social media for your business–no matter what you are selling.

Here are a few things to consider before diving into social media:

The first and most important thing is to decide how you are currently communicating with your audience online and how you would like to communicate with them in the future. Think about these three channels of communication.

  1. Text. The easiest and most informative way to communicate online is through text. Channels such as Twitter, Facebook, LinkedIn, Google+, blogs, and good ol’ emails are a great way to communicate messages–long or short–to your audience about the latest happenings with your business.
  2. Images. Any business can and should be incorporating still images into their online marketing plan. Images should be carefully chosen to convey messages to an audience and should not overpower the main goal of the post. Social media platforms such as Instagram, Facebook, Snapchat, and Pinterest are image-focused and can be great for promoting a business. Still images should also be included in emails, and profile/cover photos should be present on every social media platform your business engages in.
  3. Audio/Video. Periscope, Youtube, and Vimeo are great for sharing messages through audio or video. These can come in the form of tutorials on how to use your product, interviews with people who love your product, funny behind the scenes happenings around the office, or tips and tricks on how your service or product can improve your customer’s life. The possibilities of using videos for marketing are endless, but this method of reaching consumers through social media is a bit more time consuming. You don’t have to invest in fancy equipment to use videos in your marketing plan, but it does take a bit more commitment to create a  video that engages your audience.

A business owner on top of their social media game

A business owner on top of their social media game (which sometimes means hiring an employee whose main job is to manage social media) will aim for doing a little of everything. However, you don’t have to do it all to be recognized and look professional on social media. Here are a few tips from Vyde’s marketing team to make it happen for your small business.

  • Choose a few social media channels and do them well. Don’t feel like you have to manage every single (and old) social media platform out there. Determine how much time you have to spend on social media for business and divide that by 3 or 4 — that’s about how many social media channels most small business owners can manage at first. In fact, many find that 3 or 4 is even too many to handle.
  • Snag your username on all social media platforms, even if you won’t use them right now. Plan to use your 2-4 platforms well, but be sure to claim your space on certain channels you think you might use in the future. There are many people out there who will sign up for a social media account or domain under a business name and then try to sell it back to the business owner for an outrageous amount of money. Avoid this mishap by grabbing your business name on the channels you’re interested in now and then focusing on them later. You don’t have to advertise every social media channel you’re signed up for–just bring the attention to the ones you’re actively using.
  • Sign up for Facebook, LinkedIn, and Google+. Here’s why:
    • Facebook attracts the widest variety of users. All of your customers are on Facebook (with a few exceptions), young and old. With over one billion users, it has an audience too large to ignore. Facebook is easy to use and offers the flexibility of text images, and videos all in one place.
    • LinkedIn is a professional network that is more serious in nature, but one that all small business owners should be on. There are over 230 million LinkedIn users and 2.7 million business pages already on LinkedIn. You don’t necessarily have to maintain a business page on LinkedIn, but as a business owner, you should absolutely have a personal account that is updated regularly.
    • A Google+ page for your business will help Google generate search results for your business that includes: the name of your business, where it is located on a map, reviews, contact and location information, and even photos. Google is the tried and true search engine for anyone and everyone, and if you’re not showing up on Google, you’re missing out.
    • Other social media channels that are great for business include: YouTube, Instagram, Yelp, Reddit, Pinterest, FourSquare, Tumblr, Twitter, Periscope, and Snapchat. Venture onto those social media platforms in the future, when you can create a marketing plan and use them skillfully.

potential customers

Keep in mind that it doesn’t matter what you’re signed up for or how often you post about your business when it comes to social media. What really matters is that you’re generating thoughtful, meaningful, and original content that will engage your current and potential customers.

FAQs for Social Media Marketing Strategies:

Why should my small business prioritize social media marketing?

In today’s digital age, social media is a crucial avenue for engaging with customers and expanding brand visibility, regardless of your business type.

What are the key communication channels to consider for social media marketing?

Text, images, and audio/video content are essential channels for conveying messages online, with platforms like Twitter, Instagram, and YouTube offering diverse options.

How can I effectively manage social media platforms without feeling overwhelmed?

Focus on a select few platforms and prioritize quality over quantity. Allocate time based on your capacity, aiming to excel on 3 to 4 platforms rather than spreading too thin.

Why is it important to secure usernames on social media platforms, even if not actively using them?

Claiming your business name prevents others from exploiting it and ensures consistency across platforms, facilitating brand recognition and trust among customers.

Which social media platforms are essential for small businesses and why?

Facebook, LinkedIn, and Google+ offer diverse user bases and distinct advantages for brand visibility, customer engagement, and search engine optimization (SEO). Other platforms like YouTube, Instagram, and Twitter also hold potential for strategic marketing efforts.

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Vyde is a licensed accounting firm (CPA) based in Provo, Utah, and members of the AICPA. We provide professional accounting services to businesses and individuals, with a focus on small business bookkeeping and taxes.

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