Team Building System in 2023: Landscaping Company

Team Building System

Team Building System in a Landscaping Company

This week I’m writing about using a Team Building System in a Landscaping Company. A Team Building System is a reliable system for placing your team members in roles best suited to their strengths and building them into a powerfully cohesive and committed team that delivers business results.

I’ve been writing about some of my hero clients and how we achieving significant results. We have 36 Business Coaching Modules, which are areas within your business under the categories of growth, profits, and freedom. When we improve your performance, your business will run better.

Wendell’s Large Landscaping Business

One of my contacts referred me to Wendell, the president of a large landscaping company. At that moment, his business had suffered from an economic turndown in the residential construction industry. Most of his revenues were coming from large track home building contractors. Some of these builders had squeezed his business on pricing and were competing with him.

Operational Changes in Wendell’s Landscaping Business

Since Wendell had some differences with an investor he wanted to take control of the business operations. Furthermore, his employees were not engaged and helping to improve the business. We wanted them to be empowered and involved in planning and decision making. In his personal life, Wendell’s life was also about to change. He wanted to spend plenty of time with his family since his children were nearing college age.

Strategic Plan, Team Deployment, Tactical Marketing, and Sales Training

We started by performing a profit analysis of Wendell’s business. We were able to determine that we needed to put in place several Coaching Modules. These included our Strategic Planning, Team Building System, Team Deployment, Tactical Marketing Plan, and Sales Training. Our main focus was on marketing on high-end residential clients. These clients wanted outdoor rooms.  We also held margins on the lower to mid-size home builders. We determined that the warranty department was providing too many free services. This represented a significant loss and we saw some upsell opportunities.

Team Building System for Wendell’s Landscaping Business

Our plan was to focus on the Team Building System. At that point, employees were not engaged. We wanted more buy-in from the employees so that they could be empowered to provide resolutions to customer problems and care about the machinery they were operating.  So we began to involve all employees in meetings and brainstorming sessions. We developed a vision for the business that offered more benefits and profit sharing for the employees. As we deployed these strategies we saw dramatic improvements in many areas.

The Results for Wendell’ s Landscaping Company

Here’s what Wendell said about our Coaching Process:

Our annual sales have grown from $3.6million to $13million and our profits have grown by 400 percent. Alan helped create a stronger team atmosphere and was able to get great team “buy in.” This was after helping us to make some tough decisions necessary to initiate the turn around. Alan helped us to develop and deploy key marketing and branding strategies, grow our design-build division by 700% and turn our warranty department from an expense to a 30% profit.

 

Congratulations Wendell on your dramatic improvements in using among other things a Team Building System in your landscaping company! You are one of my business heroes and an inspiration to other business owners. You can view another case study of using a break-even plan in a school bus company here.

 

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Top 5 Tools to Manage Business Travel In 2023

business-travel

Top Five Tools to Manage Business Travel

Well, the tide is beginning to turn because companies are sending their staff back on the road again. However, because of some travel restrictions still going on, business traveling is a bit difficult to manage because of continuous uncertainties that arise. 

Don’t worry though, modern technology is beginning to do things better than we are doing them. And for that exact reason, we are turning to the best travel management tools that will further assist us in managing our travel bookings. 

Without wasting more time, let’s dive right in and find out the top 5 tools to use for business travel in 2023! 

What makes a great travel management tool? 

An excellent travel management tool makes your travel bookings much easier, ensures faster budget planning, and even has another plan when a specific method isn’t working for you. After careful considerations and research, we came up with five excellent business travel tools you can use in 2023. 

business-travel

The top 5 tools you can use to manage business traveling in 2023 

  1. TravelPerk

TravelPerk is one of the most effective business travel management tools you can use for ensuring a great business trip. The tool itself is designed to make corporate traveling faster and secure, along with a fairly smooth experience. 

TravelPerk has a large inventory, which allows employees and managers to book trips on their own, saving lots of time and energy. Additionally, it helps you ensure you are in line with its travel policies when booking business trips. 

Let’s not also forget that TravelPerk is great in assisting you with budgets and finances regarding traveling. Finance teams are provided with the necessary financial information regarding expenses to be made during business trips, reporting features that make business traveling more effortless than ever to manage. 

Travel Perk is a top-rated tool with a 4.6 out of 5-star rating on G2, with over 1,000 user reviews! Moreover, it even offers a free option when you use their tools, so you can get top-quality without having to pay for anything. However, when you choose to go with their premium plan, you will be paying $15 per trip and $25 per trip with their pro plan. 

Key features include:

  • Automatic travel policies are set
  • Access to a massive inventory of hotels, flights, and even rented cars
  • Reporting metrics
  • Tracking of expenses
  1. Paramount Workplace 

Paramount workplace is a fully integrated business travel tool that simplifies the entire process of corporate traveling altogether and seeks to solve ongoing issues that arise. 

The travel management tool offers an expense and travel solution for all employees with their smart booking engine that sets up traveling based on your policy. The smart booking engine is able to integrate corporate travel policy, authorization requirements before traveling, negotiated airline, the best hotel & car rental offers, and more; all into one booking path that syncs all travel data in your expense report.  

In short, this becomes easy for the traveler because the smart booking engine will sync all digitally captured receipts linked with the expense report. Since there is OCR technology, it can quickly identify the required information associated with receipt processing. 

Let’s not forget that approval requests can be sent by email for instant approval. Also, you get many reliable insights regarding your expenses with assistance from reporting metrics. 

Key features include: 

  • Automatic travel planning
  • Automatic generation of the expense report 
  • A quick insight into KPI’s, budgets, and metrics

Overall, Paramount Workplace offers a demo version to try out its travel management tool, but you will need to contact them on their website regarding prices. 

  1. TravelBank

TravelBank is a centralized tool that allows every team member to book their trips in one place. 

With TravelBank, you can search, track, and book trips; which means you are giving your team members an all-in-one place for booking and paying. This is a massive benefit for them as they don’t have to do this separately. 

Regarding expense reports, users can screenshot their flight receipts or ground transport, where charges will be placed on the company’s card. 

There’s also one more exciting feature associated with TravelBank: travelers’ ability to reward through the platform. For example, a standard reward is usually a discount. In contrast, these discounts may financially benefit the company since it minimizes some of their overall expenses when sending out their team for business traveling. 

Key features include:

  • Booking all trips into one 
  • Flight receipt screenshots that are sent directly to the company’s card
  • Financial discounts

Pricing with TravelBank begins at $8 per month with their basic plan, but you can also choose their custom plan, which will charge you based on usage. Although the custom plan is probably the best one to go with since it offers unlimited travel and expenses, costs are reduced by up to 30% compared to other plans

  1. Flightslogic

Flightslogic provides a customizable hotel and flight booking engine that automates the business traveling procedure. Necessary data is bought together regarding travel expenses and allows travel managers to manage the traveling activities of the company’s employees effectively and quickly. 

Flightslogic helps in flight and hotel reservations, where it manages travel schedules of team members and ensures they have the necessary documents required for business trips. In short, the platform is excellent for setting up a customizable plan and allows small travel agencies to profit in their industry. 

Key features include: 

  • A large inventory of hotels, car rentals, and flights across the globe 
  • An uncomplicated travel schedule management along with hotel and flight reservations 
  • A travel policy that meets requirements 

Pricing with Flightslogic varies, and here, you will need to contact them to find out what kind of price they will offer you. Although, whichever price you will be paying, the benefits will be worth paying for. 

  1. TripActions 

TripActions is the complete business travel management tool you need. Overall, it delivers a personalized experience compared to the many other tools listed and provides you with all the necessary tools you need to manage your corporate traveling. TripActions has even been claimed to be trusted by over 5,000 companies, which they include on their website. 

You are provided with access to data that assists travel managers in finding the best offers in the market in order to control their travel expenses. TripActions uses machine learning to understand all of your booking preferences and recommend the necessary plans you should use to fulfill your choices. 

Moreover, you have both a desktop and mobile version which you can use. The tool is quite advanced in controlling your expenses and maintaining the quality of business trips. 

Key features include: 

  • Machine learning
  • Data-driven expense and travel management 
  • Automatic travel policies are set 

Overall, the tool is easy to use and has enough smart features to simplify travel and expense management for the entire company. If you are thinking about saving lots of time, then TripActions might just be the right choice for you. 

TripActions doesn’t state any pricing on their website, but they do display the plans they offer and what you will get from them. In order to find out how much they charge, you would need to schedule a demo with one of their paid plans and find out on their website. 

business-travel

Wrapping everything up on business travel

Well, that is about it for this article. We hope you have made up your mind about what may work for you and which business traveling tool best fits your needs. A business travel tool is precisely what helps your team members find the best deals for their accommodations and flights. 

Also, they are essential if you want to capture receipts and convert them to your expense reports which will reimburse costs for your team members. The bottom line is that you always have to find a business travel management tool that will be profitable for your business and help you save in the long run. Especially with the start of the pandemic, uncertainty is at its highest level.  

Take your time, go through each of the five travel management tools and see which is the most profitable for your business in the long run. All of them were carefully researched by our team and had great overall reviews by many users. Now, it is all up to you to see what better fits your business! 

 

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4 Tools to Use in 2023 to Grow Your Business Faster

grow-your-business

Finding ways to grow your business requires a lot of resources, both in terms of time, knowledge, and capital. If you’re a business owner, you might feel stressed and overwhelmed by the daily administration tasks, and keeping up with incoming emails.

But, thanks to technological advances, businesses today can streamline their operations and make their work easier. Such tech tools can allow businesses to respond to market trends more efficiently, make strategic decisions, and create products to meet their growth objectives.

Below, we share some recommendations for tools to help you propel your business to the next level.

Social Media Automation Tools

We live in the age of social media and if you still don’t know how to use these channels to your advantage, the road to achieving greater business success might be more difficult for you. Most of the potential customers and clients you want to reach are probably using social media platforms and as a business owner, all you need to do is reach them and inspire engagement.

Social media is a powerful tool to influence customers’ opinions and businesses can use it to promote their products, get close to their target audience, and ultimately increase sales. Try to find your way into people’s lives and focus your efforts on attracting more followers. 

Many companies turn to Instagram automation tools to increase the number of followers. However, you need to be very careful when choosing the right growth tool. You will want to focus on one that prioritizes organic Instagram growth achieved by real and relevant Instagram followers.

Project Management Tools

grow-your-business

Project management in a company can be challenging, especially when you are trying to do several things at once. Thankfully, modern project management tools are available to help teams and work operations run smoothly.

Clock in the app with GPS is a great project management tool that will help your business, especially in the construction sphere. If you are working on a construction project, this feature will allow you to track employee clock-in times and their GPS location. This will help you to see if employees are working their required hours and also ensure that they are on-site when they clock in. In addition, this feature can also be used to track contractor clock in times and locations.

A project management tool can come in handy in every phase of the project. There are a variety of project tools available both online and offline that can meet different types of needs. The main purpose of a project tool, regardless of the size of the project, is to facilitate the work – from planning and management to budgeting and analysis.

The basis for using a project tool is to be able to plan and structure the work. A clear plan is often central for the project result to meet the anticipated expectations. Things like deadlines and budget are good to have in place before the project starts so that expectations can be set at a reasonable level. With a tool that enables planning and follow-up of these two basic limitations, it can be easier to deliver successful projects with satisfied customers.

Email Marketing Helps Grow Your Business

Email is one of the most popular communication tools today, despite the increased use of many other forms of communication.

If you want to grow your business faster, you should consider using email marketing. Top-quality newsletters can increase traffic to your website, improve communication with your target audience and bring you more customers. A very large percentage of marketers say that email is their most important channel to attract customers. Another advantage is that you hold the customer contact rather than it being in the hands of other companies like Google or Facebook.

Using email marketing pays off as it can lead to increased sales, traffic to your website, strengthened customer loyalty, stronger brand, or increased conversions. The best thing about email marketing is that it easily measures how many people have opened the newsletter, which articles they’ve read, which links they click on, etc. This makes email marketing a fast and cost-effective channel to work with.

Customer Relationship Management

A CRM system is an excellent tool when your company wants to improve its customer relationships. A CRM system can save, structure, analyze, present, and share important customer data, allowing your business to gather all customer data in one place. This makes it easier for employees to work efficiently and have the right information at the right time.

When choosing a CRM system, there are many benefits to take advantage of, especially when it comes to sales, marketing, customer service, analytics, and reporting. All companies dealing with customers should therefore use a CRM system as their employees can focus on their main task – regardless of whether it’s customer care or marketing of products.

Final Thoughts On Ways To Grow Your Business

Whatever you do, make sure to choose a tool that matches your business needs. Whether you need to manage projects more efficiently or keep track of customer data, get familiarized with all the features and functionality so you can grow your business faster.

 

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How To Expand Your Business: Best Strategies In 2023

expand-your-business

Small business owners had a difficult year in 2021 for a variety of reasons. It doesn’t matter if you had a successful or unsuccessful year, or if you just started your business in 2023. In order to grow your business, you’ll need to do things like plan events, use the best Windows 10 screen recorder to get on social media, and set goals. These things will become a regular part of your day. Use the following list of seven small business growth methods and suggestions as a guide to achieving your goals. Here are some suggestions on how to expand your business in 2023.

1. Automation

Automation is a crucial factor to keep in mind. Small businesses will have to make do with their valuable resources. There is a lot of automation out there that can help these companies. Consider automating some of these business tasks like Accounting, Social media marketing, Email marketing, Tax prep, etc.

As a result, you’ll be able to spend more time on long-term goals. You’ll be able to open up new markets, increase your product offerings, and better serve your customers if you set this as a goal.

2. Boost Your Online Business Profile To Expand Your Business

expand-your-business

Even if your company is doing well off-line, it is imperative that you establish a web presence for the future. According to some experts, online sales will contribute to 95% of all purchases by 2040, and the eCommerce industry is growing at an annual rate of 23%.

Without a website, your business strategy will be left behind in 2023. A website can help your business establish a name, increase sales capacity, build brand recognition, and enable email marketing, to name just a few of the many benefits.

Social media is another important channel to consider. 45 percent of social media users said they utilized the platform to research companies and products, and 67 percent said they purchased something they saw promoted on social media. Concentrating your efforts on just one or two of the social media platforms where your customers are most active can have a significant impact on your company’s growth.

3. Stop Hard-Selling

Customers today are aware of pushy sales tactics. As a result of the numerous advertisements they see each day. Consider how you can better engage your customers with your products instead of just selling them.

Do your best to educate customers about your offerings. Demonstrate to them why and how they will benefit from your products. The best way to help your coworkers improve their customer service skills is to share your own experiences with them.

Presenting some live previews of your products can pique people’s interest and help you land more customers. With the help of a social media platform, you can produce customer-friendly content. Workshops are an excellent way to increase the level of interest in your products and services.

4. Rewards Loyal Customers

Getting a new customer is three times as expensive as selling to an existing one, as you may have heard. Consider customer loyalty a top priority if you want to grow your business and increase profits in 2023. Creating a customer loyalty program is a great way for small businesses to stand out from the competition.

Consider rewarding customers who do business with you on a regular basis with incentives and benefits. It’s possible for you to skip the line for your VIPs, give them freebies, or allow them early entry to sales and deals for them.

In addition, many businesses reward loyal customers with stamp cards. To give an example, customers purchasing 10 cups of tea may get the 11th for free. You can use these benefits to persuade customers to pick you over your rivals in the market.

5. Educate Your Employees To Expand Your Business

It should come as no surprise to you that the more enthusiastic and engaged each employee is about the goods and services you offer, the more likely they are to persuade potential customers to buy from you.

Therefore it is unrealistic to measure the degree of commitment and effort that your company deserves and needs from your employees if they are not kept up to date on current business news pertaining to both your specific company and current market trends.

Third-party, independent companies that have a wealth of relevant professional data at their fingertips host a slew of excellent courses and elearning meetings. It’s a great way to show your employees that you value them and their input by investing in their future by enrolling them in specific courses that necessarily apply to their job role in your company.

6. Creating A Positive Work Environment Will Help Expand Your Business

One of the best ways to keep top employees and grow the business is to build a strong corporate culture. Try to bring the entire company together to establish trust through transparency. Have an open approach so that employees can express their concerns, and be as responsive with scheduling as possible in order to make an effort. The aim is to improve workplace wellbeing.

7. Value Customer Feedback

expand-your-business

When you’ve been in business for a long time, it’s easy to believe that you know what will sell and how to market your goods and services. In the future, doing similar work you’ve always done may not be in your best interest.

It’s possible that the products or services you offer are nearing the end of their useful lifespan. In some cases, your marketing may not be reaching a large number of potential customers because it’s not being delivered to them or isn’t being delivered on time. They may not have the time to stop by your shop in the city.

If you want to find out about problems like this, ask customers and potential customers for their thoughts. You should find out what your customers like and dislike, as well as any additional requirements they may have. Make contact with previous clients and enquire about their experiences. As you gain more insight into your customers’ needs and preferences, you’ll be able to better serve them.

Conclusion on How to Expand Your Business

Making plans, formulating small business growth strategies, and cultivating relationships with others are all important, but they aren’t always sufficient. Strategically, they’re all fine. But the most important thing is to have faith in yourself.

If you’ve decided to launch a new company, go for it and see what happens. Even if you don’t see immediate success, you have the potential to make a significant impact in your field. Make up your mind and go for it; start a business to accomplish your goals.

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The Main Reasons You Should Start an RIA Firm

RIA-Firm

We are observing a rise in the number of advisors considering starting their own independent registered investment advisor (RIA) firm as the financial services sector continues to expand. And this blog post will discuss the benefits of setting up an RIA firm.

Autonomy with an RIA Firm

In the 2019 Breakaway to Independence Survey by TD Ameritrade, advisors ranked “greater control” as their top reason for switching to the independent RIA model (34%). The truth is that when you launch an RIA, you have total authority over all business-related decisions. So, if you value your independence, establishing an RIA can be the best course for you.

Alignment with Your Client

To put it simply, a better business prioritizes the needs of its clients. A typical broker must propose an appropriate investment for a customer at the time. In contrast, you have a fundamental and continuing obligation to work in your client’s best interests. Being appropriate does not imply that it is the client’s best investment. It is, therefore, not surprising that many customers and financial advisors strongly prefer the RIA model, especially as clients continue to become more informed about the critical distinctions between the fiduciary and regular brokerage models.

Income Possibility

RIA-Firm

The figure below shows that as an RIA, you may decide how much revenue your company can keep up to 100%. With this freedom, you have total control over your costs and fees, allowing you to decide how to run your company to generate the most money. Additionally, suppose you opt to launch your own RIA. In that case, you may increase your business’s equity for a more significant long-term return if you decide to monetize or sell the company in the future.

Although the cost to start an RIA is not small, these costs are decreasing over time due to technological advancements, competition among custodians, and industry backing from groups that prioritize increasing public access to financial advice.

Select Your Technology Team for Your RIA Firm

When you choose your technology for your RIA firm, you get to pick the goods that best meet your company’s needs. You are the best person to understand your company’s requirements as the owner of your RIA firm, and you can deal with items that serve your interests. If you aren’t already knowledgeable about it, technology may also be a complex subject to tackle, so do your homework carefully.

Start with a CRM when making your IT selections. Pick one with a wide range of integrations. Ensure that it integrates with your email and serves as a dependable location to save meeting notes, new client contacts, and task-tracking information. Additionally, you should have a logo, domain name, and website of your own. With information about your staff, culture, goal, and values, your company website may serve as a comprehensive introduction to your company.

Lastly, you need a trustworthy billing system that you and your clients can utilize efficiently. Selecting a billing system that works closely with your primary custodial and performance reporting system will be much simpler.

Individual and Professional Development

Few things are more upsetting than getting to a point in your career where your employer prevents you from growing personally and professionally. You may transition from being an employee to a company owned by starting your own RIA firm. You will be able to recognize your capabilities and make the most of them for your company. Those who launch their own RIA businesses and work for themselves typically earn 40–50% more than they did as employees.

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One Amazing Way to Boost Your Business in 2023

Ways Boost your business

Way to Boost Your Business

When you start your own business, it doesn’t take long to realize that there is a lot to learn – like gaining the skills to form strategies, budgets, processes, and a marketing plan. Business owners have to create a business card, brochures, website, and logo. To boost their business, they have to write a business plan, hire employees, find vendors and connect with their customers through social media and networking. It is a serious learning curve for most entrepreneurs.

Business owners want to know how to tackle these struggles by getting educated and mentored.  Asking for help can be a hard decision for some, though it’s unquestionably the wisest choice. The faster a business owner gets the essential skills and education, the sooner profits rise and the business owner salary grows!

The One Approach to Mastering Business Ownership

I believe there is ONE simple way that a small business owner can attain the necessary skill set to grow their salary and improve their business.

There’s never been a single independent business owner who could expertly perform the multitude of jobs needed to build, launch, and manage a small company – Marketer, Speaker, Graphics Designer, and Website Developer. Each has to be Leader, Interviewer, Project Manager, and Researcher. Each must know Customer Service, Finance, Sales, and Negotiations.

Remember when Hemingway wrote, “No man is an island”? Well, he may have been writing about a small business owner, because there’s no one who can successfully do it solo.

It’s All About Business Coaching

Business coaches can provide the training, mentoring, recommendations, and guidance which help entrepreneurs to learn the skills they need to achieve their desired objectives. They offer a tailored education along with support and accountability.

Coaching can take several forms … and can be over a brief period or a longer-term, depending on needs and budget.

Below are some options available to you in getting expert help. I personally have used the mentoring options below and have seen remarkable results. Since I hired my first business consultant many years ago and achieved amazing results, I have depended upon advisors to help me advance my business ventures. Here are a few options:

  • Boost Your Business With One-on-One Business Coaching

Meet with a professional business coach on a regular basis. Gain insights into performance, setting goals or strategy, or whatever is needed. This can be done in person, on the phone, or through meeting apps like Zoom or Skype.

  • One-on-One Small Business Consulting.

Use a consultant who is focused on a narrow area of a business for a short period of time. Let’s say that a business needs software to streamline processes. Just hire a specialist to complete this single task and you’re done.

  • Business Coaching Program Helps To Boost Your Business

A program is a series of activities with an end goal in mind. In this context, the business coach develops lessons or seminars for the client focusing on a certain area, like marketing. Coaching programs can be a one-time workshop or several teaching modules held over weeks or months. Programs can also be customized or bundled into packages that cover a wide array of topics and skills, regardless of the size, complexity, or age of a company.

  • Attending Group Business Coaching Can Help You Boost Your Business

Many issues and needs that business owners face are common. Group coaching can be an affordable and even fun solution. In this format, entrepreneurs can receive standard training modules while participating in a community (usually 5‑10 people) that shares successes, referrals, and lessons learned. Meet weekly online or monthly face-to-face.

  • Mastermind Business Groups.

A mastermind group (weekly or monthly) focuses on the sharing of knowledge from other business owners along with a coach. Information shared can be general or specific.

In addition to coaching, all business owners (like doctors and other professionals) should continue to develop their knowledge and skills through self-development:  books, magazines, videos, webinars, seminars, etc.

As you can see, there are many growth and learning options available to the small business owner who wants to improve themselves and grow their business owner salary. Any of these options can provide much-needed support while giving you a significant return on investment.

Tell us what coaching would most benefit you or your business right now?

 

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Using Psychometric Profiling to Hire Employees in 2023

Psychometric Profiling

Using Psychometric Profiling to Hire Employees

When you are recruiting new employees to work in your small business, you want to make sure they have the knowledge and skills for the specific job position you are filling. You also want to make sure that your employee will be happy in their position. So while looking at their CV is always something you should do, you should also use psychometric profiling.

But what exactly is psychometric profiling?

Simply put, psychometric profiling is a process that you can use to measure someone’s behaviors as well as mental capabilities. By using this process, you can know if someone is suited for both the job position as well as if he or she will be able to fit in within your small business.

While you may think that psychometric profiling is something incredibly complicated and expensive and that only big companies and corporations can do, this is not right. The fact is that the right employees will help you grow your business. When you take the time to select the right candidate for the job, you will be increasing your odds of success.

How Can You Use Psychometric Profiling To Choose The Ideal Candidate?

When you use a psychometric profiling process, all the candidates will be subjected to one or more assessments that will show their real personality as well as their real abilities. Even though some small business owners believe that psychometric profiling isn’t really measurable, you need to understand that the results are then analyzed statistically. And this will ensure that you get objective and reliable results.

When you are interviewing candidates for a specific job role, it is hard to understand the work skills the candidate has as well as whether she is hard-working or laid back. After all, most candidates show their best side on interviews and when they are hired, they will show how they really are. So psychometric profiling can help you decipher candidates better before you hire any one of them.

Your Job Candidate: Introvert or Extrovert?

Especially in small business, the work environment is extremely important. It is important that all employees get along well, that they are able to communicate and help each other when in need. So, psychometric profiling can help you discover if a candidate is extrovert or introvert, if he or she has the wrong temperament, and even if he or she is an easy-going person who is easy to work with.

Your Job Candidate: Team Player or Maverick?

As you can easily understand, the psychometric profiling criteria need to be carefully selected based on the open position. Let’s say that you are hiring someone for customer support. You want to ensure that a candidate is a calm person but that he is also pro-active. You need him to be patient and that he knows how to listen and take action on his own. On the other hand, if you are looking for a salesperson, you want to ensure that you have an engaging person who is easy going. So, ultimately, the psychometric profile varies depending on the job role.

Benefits of Psychometric Profiling in Your Business

Many companies and organizations are already using psychometric profiling every time they are recruiting. And there are many reasons why they are doing this:

– It helps with career guidance.

– It helps in succession planning as well as it can help in the development of future talent.

– It helps when it is time to have a promotion.

– It helps with training since coaches will have a better perspective of each employee and how they can easily reach them. In addition, the skills of each employee can also be increased according to his own preferences, allowing the employee to be more motivated.

– It helps as a part of the recruitment and selection for a specific job role.

Using Social Media to Know Your Job Candidate

As a business owner, you probably already know that many companies are using social media to recruit new employees. And when you are using psychometric profiling, you can have a better perspective of who you are recruiting for your small business.

Observe Your Job Candidate’s Posts on Social Media

Many people tend to forget about what they say in social media. However, they already left their footprint in there. So, by turning to social media, you can easily discover if your current employees are happy with their work, for example. But you can also notice some patterns in new and current employees. By looking at the social media background of a candidate and using psychometric profiling, you will be able to establish how this person behaves online.

Things You Can Learn About Your Job Candidate on Social Media

Here are some of the things that you will discover with the use of psychometric profiling in social media:

– An inconsistency of facts when the person posts opposite things on different websites.

– Harassment or bullying.

– Posts with harmful images.

– Inappropriate use of language.

– Negative comments about brands and employers.

As you can see, psychometric profiling is an incredible tool that you can use to recruit the ideal candidates for your small business. Besides, you can (and should) also use the data gathered to continue to improve your hiring model.

 

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The Best Way to Grow Your Business in 2023: Getting Referrals

best way to grow your business

The Best Way to Grow Your Business

We all know that word of mouth is the best way to grow a business. When you receive a referral you will have little or no competition, you will be able to command a higher price, and your referral source will have done much of the selling for you.

Getting Referrals for Your Business

The best way to grow your business is, to begin with, people that you already know. People do business with those whom they know, like and trust. This will include people you have worked with in the past, friends, family and your current customers. On average, each one of us knows about 250 people. Among the people that you know are people who will refer business to you if you will only ask!

business people giving referrals to one another

Consider these facts: 20% of the people that you know will give you referrals without you having to ask. 20% of the people that you know will never give you a referral no matter how many times you ask. However, 60% of the people will give you a referral if you ask in the right way.

Here’s the way to ask: “Who do you know who could benefit from my services?”

Below are some keys to getting referrals:

Develop your big list of people who can refer others to your business.

The best way to grow your business is to write down every adult that you know on a list. Use the list of professions below to give you a reminder as you develop your list.

Develop your small list.

Prioritize your big list, and select 20 people that you want to focus on building deeper relationships with. The best sources of referrals are people that know, like and trust you. Select people who are centers of influence in your community. Develop a list and deepen relationships with them. Choose people that you will serve. The question is not “what can I get, but rather what can I give?” You will serve them by giving referrals, remembering important events like birthdays and anniversaries,  sending books, thoughtful articles, etc.

Strategies to Deepen Business Relationships

  • When you identify someone who could be a great referral source, meet with them one-on-one to deepen the relationship.
  • At that point, keep asking questions and listen 2/3 of the time and talk about the benefits of your service or product 1/3 of the time.
  • Ask “feel-good” questions. Be a good interviewer. Stay focused on them rather than talking about yourself.
  • Listen well, affirm them and get their business card.
  • Ask: “If I were to meet an ideal client for you, how would I recognize them?”
  • Connect them with other people that are a good fit for them.
  • Connect with them on LinkedIn. Before you do that, make sure that your LinkedIn profile is updated and features the benefits your service or product provides.
  • Follow up with a thank-you note. Say that you will try to make referrals to them.

Begin speaking to everyone who is within 3 feet of you.

Follow the interviewing tips above to begin to develop the relationship.

Ask for referrals from everyone you meet

Especially from your small list. Educate your small list of your services and deepen your relationships with them.

Know that you will not likely get a referral the first time you ask.

You must be consistent and persistent to get referrals. Also, realize that getting to the first referral is the key with many people. It’s like priming a pump. Once you get the first referral, future referrals are likely to flow.

Educate everyone about what you do.

Don’t simply give a generic “commercial.” Use stories of working with clients to illustrate different aspects of your services.

Be generous in giving referrals.

Give generously and you will likely find other givers.

For business owners, learning the art of getting referrals may be the most important skill you can possess. Develop that skill and you will prosper!

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Tools to Help Customers Find You in 2023

help customers find you

Tools to Help Customers Find You 

The way that the Internet works for small business changes constantly. It’s become more important to have paid social media advertising because getting customers from the “organic” kind of posting has so greatly declined. Let’s get into tools that help customers find you.

It’s nearly impossible to keep up with changes in social platforms like Instagram or Facebook, who regularly add new features, policies, or restrictions.

Your Google ranking can drop into oblivion (that is, on page 2 of search results) without telling you when it happened or why. New tools, sites, and apps pop up daily.

Technology advancements bring more challenges … be mobile-optimized (even for Apple watches), take voice technology into account, use ever higher resolution, limit content to speed up time to load it, and on and on.

Using the Internet to promote your products and services will continue to be not only mandatory but also a struggle. That’s just going to be the price of being in business.

The very first priority for a small business is to help customers find you. Another term for this is marketing. If they can’t locate your store, they won’t come there. If they don’t know your contact info, they won’t call. If they don’t see your store hours, they’ll just move on.

Tools to Help Customers Find You in 2023

If you decide to sign up with a service that helps customers find you, there are plenty of choices. This article will share our high-level research on these providers.

Hubspot

Description and Features:  Marketing, sales, and CRM tool – does have an integration with Yext to help organize the leads you get from it and push data to HubSpot. A broader, fuller tool that does in part what Yext does.

  • CRM. Everything you need to organize, track, and build better relationships with leads and customers.
    • Marketing. Software to grow traffic, convert visitors, run inbound marketing campaigns
    • Sales. Email tracking and automation, meeting scheduling

Bird Eye

Description: Business reputation management company. Tagline: “Be found. Be chosen. Be the best business.”

Features: Their promise is to get more reviews from your customers, dominate search results, beat local competitors. Has 380 employees.

Pricing:  Starts at $3K/year.  Enterprise: $5K per location. To get a quote, must fill out a form with company’s information.

IBM Marketing Cloud

Description: Marketing automation software

Features:

  • Lead management and mobile engagement solutions
  • Email marketing” href=”smallbusinesscoach.org”>marketing
  • Marketing automation
  • Lead acquisition, scoring, and transfer
  • 99% user satisfaction (source: financesonline.com)

Pricing:  Contact vendor

Leadworx

Description: Helps companies generate leads with deeper dives into visitor data, filters, social profiles, and by automating lead data feeds.

Features:

  • Leads by quality or latest visit
  • Integrates seamlessly in your sales and marketing tool stock, i.e. salesforce, Hubspot
  • Visit details by page to see what your prospects are interested in
  • Customizable email alerts to get best leads right in your inbox
  • Unlimited number of users for collaborative lead management
  • Powerful filtering and custom feeds

Pricing: $149 for <5K visitors/mo.; $299 for <10K; $699 for <50K

Moz

Description: SEO & Social Monitoring tool. SEO software and data to help you increase traffic, rankings, and visibility in search results.

Features:

  • Keyword research
    • Rank tracking
    • Site audits
    • Rank tracking
    • Content optimization
    • Metrics, analytics & reporting

Pricing:  $99 to $599/month

Reputation

Description: Tagline:  “Be Found. Get Chosen. Improve Experience.”

Reputation management software that allows businesses with multiple locations to manage their customer engagements. Solutions for reviews, business listings, directory management, surveys, social engagements, and customer issue resolution.

Features:

  • Listing optimization
  • Review management
  • Improve CX with surveys
  • Online reputation management

Pricing:  Contact provider

Uberall

Description: Location marketing solutions make it easy to give consumers a seamless, integrated and consistent experience on every device, search engine and platform they are using to find you.

Features:

Pricing:  $47 per location per month

WhiteSpark

Description: Helps get more customers from Google. 

Tagline: “Improve rankings, drive business, and fast-track your success in local search with WhiteSpark’s tools and managed citation services”

Features:

  • Local search
  • Building citations
  • Earning reviews
  • Tracking your rankings

Pricing:  $4-5 per citation; $279-$679 per location

Yext

Description: Market-leading location software company that lets businesses:

  • Update and sync their location data everywhere
  • Manage the public facts about your brand across the most popular channels consumers search on
  • Manage their brand information in the cloud and sync it to more than 100 maps, apps, and directories

Tagline: “Get found when consumers search for you.”

Features:

  • 900 employees
  • Advertising & Marketing sector
  • Gets you listed on up to 159 sites
  • Monitors online reviews
  • Profile enhancement

Pricing:  $199 to $999 per year

Related Tools

Advaiya

Description and Features:  Making Technology Work is our mantra. Whether it is marketing the technology, or implementing technology for business productivity, our focus is on making technology work. We understand that this would need technology to be built, implemented, communicated and adopted well.

  • Tagline: “Tailored digital transformation solutions with business applications and analytics”
    • Products and services for increased productivity, smoother work management and better decisions.
      • Business analytics. Data reporting, discovery, visualization, and aggregation; scorecards & dashboards
      • Cloud adoption. Cloud migration, applications, & disaster recovery.
      • Project portfolio management. Project planning & resource management; reports; dashboards; budgets
      • Productivity & business automation. Process automation, document management, collaboration, ideation & innovation

Cyfe

Description and Features:  All-in-one business dashboard that will surely help your customers to find you. Monitors a variety of areas:

  • Social media. New sign-ups, followers, demographics; track how your brand or clients are doing across Facebook, Instagram, Twitter, YouTube, Google+, Pinterest, LinkedIn, and Vimeo
    • Marketing. Monitor all your marketing channels like email, SEO, SEM, social media, and analytics from one place.
    • Client. Automate client reporting by bringing together their advertising, SEO, social media, and analytics data.
    • Web analytics. Track multiple websites, top referring domains, search engines, SEO keyword rankings.
    • Finance. Track expenses, revenue, invoices.
    • Sales. View sales goals, sales rep, opportunities, win/loss reports, new customers.
    • Project management. Dashboard of projects, tasks, TO-DO’s, upcoming events.
    • IT. Network monitoring, website uptime, server load, app performance, end user tracking

Tiger Pistol

Description and Features:  The World’s #1 Social Advertising Automation Platform for Local. Unlocking the value and efficiency of social advertising at scale for global brands and resellers.

Technology built to automate the setup, publication and optimization of Facebook and Instagram ads at scale.

Free Tools to Grow Your Business

  • Google My Business. Get a free business profile to more easily connect with customers across Google Search and Maps.
  • Google Trends. “Explore what the world is searching.” See the most popular searches (today, it’s Taylor Swift, Kim Kardashian, World Cup, and Dancing With the Stars). For business owners, you can google your business name, products, categories, or related keywords. The screenshot shows the trend for interest over time on your search term.

Summary

Finding a provider of the right services can be as difficult as a potential customer finding you. Knowing your customer, budget, and goals will lead you to make a perfect choice.

 

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10 Features That Attract Investors to an Investment Destination

Investment-Destination

Why do potential investors favor one country over another? The answer can differ depending on the priorities of individual investors. A service-oriented business process outsourcer, for instance, may have very different requirements and goals from an industrial manufacturer, which is why countries like China and the Philippines attract very diverse types of investments. For all investors, scoping out a proper investment destination is crucial. 

On the whole, however, there are certain elements that all investors consider before they set up shop anywhere, be it at home or overseas. Here are 10 important things that make a certain location an attractive place to invest:

1.) Solid Economic Fundamentals

Investment-Destination

Economic diversity, reasonable fiscal and monetary policies, strong infrastructure development, a responsive government, and a high human development index are all indicators of a country with good economic fundamentals.

Countries with strong economic fundamentals are usually safer bets for investors. These countries’ economies will, in most cases, be resistant to catastrophic external events such as market crashes and pandemics. This means that investors can be reasonably sure that their investments will be safe in the long term.

2.) Stable Politics

While unstable politics can indicate opportunity, few investors are willing to take the risk. Investors who plan on doing business for the long term will generally prefer a location with a stable political climate.

Instability can cause local prices to fluctuate and increase the likelihood of undesirable government interference, presenting serious challenges for investors. Political stability helps maintain predictability, which in turn reduces investors’ exposure to risk.

3.) Levels of Infrastructure Development

Infrastructure quality and comprehensiveness are key drivers for both local and foreign direct investment (FDI). Roads, airports, seaports, bridges, and railways are, after all, essential for transporting goods as well as employees. Likewise, the presence of well-developed power, water, and digital infrastructure helps lower the cost of setting up and running a business. All other things being equal, a location with the highest levels of infrastructure development tends to attract more investors.

That being said, countries with an overall level of infrastructure development that is not yet at par with the best of the developed world are now able to level the playing field by creating economic estates or economic zones that are especially designed to cater to investors. In the Philippines, for example, the Philippine Economic Zone Authority, together with private sector partners like Aboitiz InfraCapital, is able to attract locators by developing full-service, industrial-anchored mixed-use, and sustainable economic centers that offer all the infrastructure and economic incentives necessary for investors to thrive.

4.) Secure Legal Frameworks 

Investors are generally averse to arbitrary government interference and the lack of protection for private assets, including intellectual property (IP). As such, investors prefer locations where they can be assured that their rights are protected so that they can fully benefit from their work and innovations in the long term. Given this, locations with an independent judiciary and strong IP laws tend to be favored over more freewheeling areas.

5.) Investment Incentives

As mentioned, countries that offer incentives that could significantly lower a business’s operating costs —or that could benefit individual investors are more likely to attract investment. Public policy tools like tax breaks, local grants, special visas, legal exemptions, and even citizenships through investment are often leveraged to enable countries or special economic zones to attract foreign direct investments (FDIs).

6.) Reasonable Business Costs for Projected Returns

It’s a persistent myth that investors will always choose the lowest-cost locations. Of the countries that received the most FDIs from 2009 to 2020, countries in the developed world with high living costs consistently topped the list. Even China, the outlier in the list and often considered to be a low-cost investment destination, is significantly more expensive to invest in than many other countries.

Instead of simply choosing the lowest-cost locations, investors tend to choose locations that promise to return much more than they paid. Capital outlay and overhead costs still matter, but most investors are ready to choose a more expensive location if they could promise higher returns, over time.

7.) Access to High-Quality Labor

Investment-Destination

Countries that score highly on the Human Development Index (HDI) tend to attract more investment. People from countries with high HDI figures tend to be capable of more economic output compared to people from countries with a lower HDI. Countries with relatively low living costs and medium to high HDIs such as the Philippines tend to attract a lot of investment, as investors can pay good wages at lower costs while still enjoying high-quality labor inputs.

8.) Geographic and Logistics Advantages

Countries that are located close to major markets or are major markets themselves can enjoy a significant transportation cost advantage—provided that they have the levels of infrastructure development that allow them to harness it. Manufacturers, in particular, will tend to set up operations in geographic locations that are closely linked to their target markets.

9.) Local Availability of Investment Capital

The more businesses there are in a location, the easier it is for financial institutions to justify setting up operations in that area. When businesses have better access to banking services, they have more chances to secure loans and other forms of financing. More access to local funding and banking services tend to create a business environment that attracts even more investors as well as venture capitalists.

Some locations, such as Dubai, Singapore, Shanghai, and Dallas can also attract large numbers of high-net-worth individuals (HNWIs). (HNWIs) may not necessarily live in these cities for the long term but they may visit regularly, often drawn to the businesses and investment destination within these locations. When a location starts to have a large number of (HNWIs), investors may consider locating in these areas to increase networking opportunities and gather investments and pledges from these individuals. 

10.) Favorable Exchange Rates

Setting aside the cost of living and real wages, a country with a lower-valued currency can enable investors who have significant cash reserves of a higher-valued currency to buy more. Investors who are interested in optimizing their business costs may choose locations for your investment destination, where the local currency is projected to maintain favorable exchange rates over the medium to long term. 

While national policymakers and economic planners cannot possibly get every potential investor, they can help increase their country’s chances. By focusing on the areas above, they can maximize the possibility of not only attracting high-quality investments but retaining existing ones as well.

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