Posts Tagged ‘Small Business’

Managing Sales Taxes

Numbers And Finance
If you’re in the business of selling products, it’s likely you must collect a tax on each transaction.  For small business owners, managing sales taxes can be a big headache.

For starters, the debate over online sales taxation is growing.  Last year at least nine states pushed bills that would require online retailers to collect sales taxes in states where they do business, whether or not they have a physical presence.  Discussions are also underway at the national level to have Congress close the tax loophole for online retailers.

In addition, audits are on the rise.  Businesses can open themselves up to potential fines or penalties if they are not transparent and accurate in tracking collections, creating and filing returns and paying the states.

Marketing On A Budget

YMarketing On A Budgetou too can drive sales without furthering your expenses. Consider the following tips to marketing on a budget:

  • Internet sales tools - spread the word. Keep costs down by using Internet sales tools like ClickBank, Facebook or Google.
  • Consider commission only sales staff. If you have a proven product or service, a bold brand and a good sales pitch, a commission only sales person could be a fit.
  • Customers are the best advocates. Your clients know your products and services best. Identify potential customers who can help and create a benefit program to give incentive for referrals.
  • Testimonials will always sell. Create an area on your website or social accounts where clients can shout out about their wonderful experiences with your company.
  • Getting involved can open doors in your community. You are your own best spokesperson. Take time to speak at a local event to build credibility for your company.
  • Hold an event of your own. If you are in a position to hold an open house for your company or host an event in your area, this is a great way to build a good reputation.
  • Press releases spread the word. If your hosting or sponsoring an event, launching a new product or even moving offices, you can publish a press release online to get the word out. With non-profit events, you may even find newspapers that will print your story.

Find the combination that fits your business best.

Photo Credit:  401K

Leverage your website to improve your sales

Front StoreRegardless of your industry or the size of your business, you can leverage you website to find more new customers, serve your existing customers and convert more leads to sales. Here are some answers to some of our customers questions that will help you put the web to work for your business.

I’m a local automobile mechanic. My business has done fine for years based on word-of-mouth, but I keep hearing from everyone, “Why don’t you have a website?” Why do I need a website?
Consumers have adopted the Internet as a daily research tool much faster than many experts even predicted. Sure, some of your new customers will continue to find you via word-of-mouth. However, when a potential customer is trying to find mechanics in your area, many of them will turn to the Internet vs. looking in a phone book. If you don’t have a web site and a presence online, those potential customers will find your competitors that do have websites.

I want to maximize any type of e-commerce opportunities out there. Currently, I sell several locally made products on my website, and I have many repeat customers buying my products. What else could I be selling via my site?
Do you have an eye-catching logo or tag phrase for your web business? If so, there’s an easy way for you to sell more. Currently, there are several online services that give you the power to create T-shirts, coffee mugs, and many other items adorned with your logo or tag phrase and sell them on your site. And the best part of services such as Cafepress (www.cafepress.com) is that you don’t have to buy a bunch of T-shirts upfront and hope that they’ll be successful. They’ll print and ship a T-shirt or coffee mug only after you’ve received an order.

Some of my competitors have started blogs, but all they keep writing about is their business. It seems very self serving to me. What’s the value in creating a blog on my website?

Online Video For Your Small Business

Online video is a great tool for building brand awareness.  It a great tool to reach new customers and increase sales.  You can spend a lot of money on a sophisticated video marketing campaign, or you can pick up your camcorder and do it yourself.  In fact, an unpretentious and honest-looking video  may be more effective than a slickly produced commercial product.

You can place your video on YouTube free or post it on your website.  The latter gives you more control and eliminates the possibility that your competitors’ videos and ads will show up next to yours.

What should your online video be about?  Will it be easy to do?  Businesses can promote themselves via three themes:

Showing what you do. The what-we-do video basically features your company’s elevator pitch – your “about us” page on your website.  Introduce yourself, how long you have been in business and the services or types of products you offer.  Keep it short – two minutes max.  Finally, tell customers how to work with you:  online, at your shop or both.

Testimonials:  short and sweet. The secret to good testimonials is to keep them concise.  Find the three most important reasons a customer loves you and shoot three separate videos.  Then do the same with another customer.  It is more interesting to have separate customers listing different reasons they recommend you than a series of customers all saying the same thing.

You’re the expert. How-to videos are effective for improving your search results on Google and other search engines.  What are the top questions your customers ask?  Those should be the subjects of your how-to videos.  For example, if you sell gloves, discusss how to select the right size.  If you fix washers and dryers, explain how to keep them clean.

Let videos help tell your company’s story.  If a picture is worth a thousand words, imagine how valuable a video could be for your business.

Photo Credit:  Torley

 

 

How To Motivate Employees To Do The Right Thing

As a follow-up to my previous post “How to Motivate Clients To Do The Right Thing,” I thought that it will be beneficial for small business owners to motivate their employees to do the same.  After all, employees are considered your business’ most valuable asset, right?  You want your employees to put in a good day’s work, stick around and help build your business  Even better, you want them to want to.  So, here’s the carrot approach to consider.

Recognition.  Although a raise is always nice, you may be surprised to hear that a little recognition and TLC will go a long way.  People don’t always know what the carrot it.  A lot of companies think they have to give more money.  The real carrot is often announcing at a meeting that this employee has done something special, or a handwritten note from the CEO or owner will do the magic.

Food, glorious food.  Food and drink go a long way toward making people feel taken care of.  Stock up on snacks like microwave popcorn, chocolate, and flavored water.

Time will get them on your side. A lot of businesses close between Christmas and New Year’s.  That works out to three to five bonus days a year.  It’s usually a dead time for most businesses anyway, so consider giving your employees a chance to recharge their batteries at the end of the year.

Fit the perk to the workplace.  Obviously a policy that works great in one workplace can be a disaster in another.  For example if your company is a children clothing manufacturer consider allowing new parents to come to work with their babies; you may find that this practice actually increases productivity of your staff.

And the stick?  if an employee is dishonest or consistently deliver poor performance and you think that you’ve given the proper training/coaching, then it’s time to to let the employee go.  Before the ultimate decision to terminate is made, company management should spend a few minutes discussing the proposed termination with the company’s general counsel, outside labor counsel or the company’s human resources department. These professionals will see potential pitfalls that the management team may have missed and they can provide a reality check on the reason for termination.

Photo Credit:  Bruce Thomson

 

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