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Archive for the ‘What You Need To Know About Small Business’ Category

Fun Team Networking Activities You’ve Probably Not Considered

In What You Need To Know About Small Business on June 15, 2018 at 9:57 am

Sometimes team-building can be a complicated endeavor. You have people from all different walks of life, some old, some young, and some who are anywhere in between. It isn’t easy to get such a wide variety of people to work well together but, believe it or not, you can get them on the right track by using team-building strategies that take them off the job, if only for a day. Get them in the habit of networking with each other to achieve results, but do it in a way that’s fun. Here are a few ideas to get you started.

Scavenger Hunt in Pairs

Here, you’ll need an even number of participants because you are going to pair them off. If you have that odd person out, get a volunteer to hide the treasures the pairs will be hunting the next day. The object is to hide things around the building or grounds and they need to go out in pairs in search of those objects. The pair that finds the most objects has learned to ‘network’ as their ideas will bounce off each other until they come up with a likely hiding spot. It’s fun and you’ll see your team laughing uproariously as some of the objects you have hidden will be a great prank.

Solve the Mystery in Escape Rooms

Even if you don’t live in Dallas, a trip to this amazing city on a team-building weekend is well worth the time, effort, and cost. One thing you MUST do in Dallas if you are teaching your team the value of networking is to spend a day at the Dallas Escape Room. These are mystery events where the team is ‘locked’ in a room until they solve the puzzle – the mystery, whatever that may be. The rooms are themed and with one of the most popular being a prison cell, it’s a place where two, or three, or four, or a dozen heads are so much better than one.

Timed Invention of New Words

Depending on how many participants you have, you can pair them off, group them in threes, fours, or even half a dozen per mini-team. Give them concepts and have each team invent new words to express that concept. You’ll be amazed at some of the creativity that comes to light while your teams invent new words for old concepts. Sometimes those new words might even make it into your marketing strategies. What a great way to have your teams network for ideas and it could very well turn out to be a profitable exercise as well! Your next marketing strategist just might evolve in the process!

These are just some of the ways in which you can bring your team closer together – and isn’t that what networking is all about? No man (or woman) is an island, and together, so much more can be accomplished. While competition is a good thing, working together for the common good is so much better. Give your team a much-needed break and see if they don’t work better together from this point on. You’d be amazed at just how successful team networking events can be.

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Make Thousands From Your Spare Room Using Social Media

In What You Need To Know About Small Business on June 13, 2018 at 9:10 am

In 2017, just 23% of small business owners told Statista that social media was very important in increasing their business revenue. Yet, so many more entrepreneurs could be cashing in by utilizing social media, which is why Facebook has recently unveiled plans to train 1 million U.S business owners in digital skills. If you plan on starting a simple business and happen to have a spare room in your house, you can certainly maximize your social media accounts and start earning even more cash from the comfort of your own home now.

Fill your spare room by releasing equity

The last U.S Census found that there are 33.6 million spare bedrooms in American homes. Therefore, if you’ve got a spare bedroom or could build a new one, you could make $5,000 each year by renting it out to a lodger.  Use your social media accounts to ask your friends and followers whether they know of anyone looking to rent a room. In order to create a tranquil space which will enable you to make the most cash, consider releasing some cash from your property. A reverse mortgage will benefit the older generation, while, a more traditional form of equity release, such as cash-out refinancing will provide younger homeowners with instant cash which can be reinvested in the home. This will allow you to build a spacious room and kit it out with high-quality furniture that will tempt lodgers to choose your property over any other option.

Create a room to tutor in

As a small business owner, you’ll have a niche and area that you specialize in and this is how you can up your income. Whether you’re a master at creating nappy cakes, run a successful e-commerce shop or are a technical writer, others will pay you to show them how you make your business empire work. Turn your spare room into an area to teach in and advertise your tutoring services on all available social media platforms. Global Industry Analysts, Inc predicts that by the end of the year the private tutoring market will be worth $102.8 billion, so it’s a side hustle you should definitely consider. Encourage your followers to share your advert by making it visually appealing and by offering a special discount to new clients. It’s also wise to invest time and money in producing short video clips which your skills and explain how you can help others.

Build & rent an office

Transform your spare room into an office, advertise the space on social media and you’ll soon receive a flock of individuals interested in paying to use your office space. According to the New York Times, 43% of American employees frequently work remotely. However, it’s common for home workers to get distracted by the television, their kids and the household chores when working in their own home. Therefore, being able to rent a small office space in the form of your spare room on an ad hoc basis is the perfect solution.

Social media is an important tool in assisting small business owners to make even more cash from home. By releasing equity from your home, you can transform your spare bedroom and use social media to advertise for a lodger, allowing you to net thousands. Alternatively, rent out your spare room as an office to homeworkers who are keen to avoid distraction. Meanwhile, reach out to others by advertising your tutoring services on social media so you can use your existing business skills to boost your income.

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5 Unexpected Mistakes Small Businesses Make In Social Media Marketing

In What You Need To Know About Small Business on June 11, 2018 at 7:10 am

Social media has emerged as a powerful tool to make or break any business. Much like how word of mouth can bring more customers to a small shop, marketing on social media is an effective strategy for small businesses to rise above big brands and other competitors.

More than merely striking a conversation with online users, your social media plans should always include an organic funnel to turn your followers into buyers and clients. Unfortunately, if you fail to use social media properly, you might end up worse than when you started creating your Facebook page or posting your first product photo on Instagram.

Social Media Marketing Mistakes That Small Business Owners Need To Avoid

If you don’t want all your effort and money down the drain, steer clear of these five unexpected mistakes that you may be committing in terms of social media marketing:

  1. Posting purely for promoting your business

If someone persistently offers you their product in a discount store at the mall, wouldn’t you be annoyed and turn the other way? That’s the same case with social media marketing: publishing promotional posts will turn away potential customers.

An industry-accepted principle is the 80/20 rule. Roughly 80 percent of your social media feed should contain value-adding content that your followers will appreciate, and only 20 percent for promotional content.

  1. Dismissing the website to focus on social media

Even though you’re spending time on social media marketing, you still need to create a stunning look and outstanding user interface for your website. If you run a physical therapy website, for example, look for a web tool and suite to keep your followers returning to your site frequently.

  1. Using every social media platform available

Note that each social networking site has a specific set of followers. As long as you know which user demographic or financial status you’re aiming for, you may choose from only a handful of platforms to maintain for your business.

According to Pew Research Center, YouTube and Facebook are the top social networking platforms in the U.S. Meanwhile, people between the ages of 18 and 24 – which is considered by many business experts to be the golden client base – make use of Instagram and Snapchat.

  1. Jumping in without any plan

Social media may sound like a fun and entertaining place for casual users, small business owners should treat this resource seriously. Don’t expect to gain traction in client base and profit when you’re posting random stuff about your cat.

In other words, you need to create a social media marketing plan or strategy, which should include the following:

  • Content to publish: Make an outline of the topics that you will post on social media. Make sure that everything is related to your business (but not necessarily about it). Remember the 80/20 rule!
  • Posting schedule: Know when to publish your content, keeping in mind the regular frequency as well as some special events (such as your company’s anniversary or any upcoming holidays).
  • Assignments: If you have a team, have each member commit to a particular task, complete with deadlines and expected deliverables.
  1. Hurrying the results

Lastly, don’t expect that your first few posts will make your company an instant online sensation. Most of the time, social media marketing techniques take time to bear fruit. Keep pushing your strategies, because you will eventually see positive results in due time.

Don’t worry too much when you make mistakes in marketing your small business on social media. As long as you don’t commit catastrophic blunders – say, arguing with your past customers online – you can always bounce back and make necessary adjustments to your social media strategies.

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ICOs Roundup – What’s New?

In What You Need To Know About Small Business on June 8, 2018 at 10:05 am

Driven by the need to discover alternative revenue generating ways, initial coin offerings (ICOs) have been in existence since 2013, but only became a recent sensation that is bound to not only cryptocurrency exchanges, but also other industries such as tourism, logistics, and transportation, among others.

ICOs are mostly used by startups to raise funds by bypassing the rigorous and limited capital-raising processes required by financial institutions. By using the ICO campaign, the startup sells a percentage of its larger portion of shares in exchange for legal tender.

In this year’s roundup, the following different industries are set to gain more through the use of ICOs, which will stimulate an increased use of more efficient operating systems for businesses.

ICOs And Transportation

Transportation ICO projects that help with real time tracking and tracing of transportation processes have already been developed. The ICOs smart contracts are set to increase transparency, efficiency, and revenue growth through a decentralized blockchain database. The smart contracts are capable of creating reports and responses that are always available to clients, owners, and other market participants.

Travel And Tourism

ICOs in the tourism industry will completely change how companies will offer their services. The blockchain systems will use applications programming interfaces to connect all tourist businesses, and provide them with travel information and patterns of specific audiences, therefore, facilitating data exchange between hotels, tourist companies, and tourist operators.

A good example is the LifToken wallet which has been speculated to integrate and facilitate data exchange between airlines.

Since last year, the tremendous exponential growth of ICOs has shown that they are the future of investing.

REVOLUTIONARY WAY TO GET FUNDED: ICO ROUNDUPS

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How Small Businesses Can Expand Successfully

In What You Need To Know About Small Business on June 5, 2018 at 8:58 am

When a small business has become a success, your next move should always be to expand. Turning your small business into a franchise is the best way to invest in your future because you won’t be able to always run and manage your company on your own. By expanding, you can create a legacy and an income that will last you and your family years, if not centuries. The potential for expansion is huge, but only if you do it correctly. Follow this guide, and you can better prepare to expand your business with success in mind.

Research Your Demographic

When it comes time to expand, your first thought should be to where. You will want to find your demographic and, ideally, recreate the scenario that led to your success in the first place. This means finding a similar neighborhood with a similar demographic. Where you find this neighborhood doesn’t matter because you can expand within your own country or outside of it. The point of expansion, after all, is that you hire another team to manage it who will then report to you. If you fail in finding your demographic, however, you might find it difficult for your other store to get up off of its feet. Always do your research beforehand, and choose your new location with care.

Expand Production

Your next step will be to expand your business’ capabilities. One of the most significant ways you can do this is to ensure that your business’ data management is under control. Another location (or several) means more data to manage, meaning your business needs to be better organized than it ever has been before. This can pose a challenge, particularly if you did not build your business with scalability in mind. You could benefit from having a professional come in and set up the systems you need, from cloud-based computing to management systems to help you manage your different locations and stay on track of your company’s success.

Collaborate

All businesses must collaborate in order to succeed, and collaborating as you expand can help you open up in more locations and expand your reach. For instance, you can open up a section in a department store first, and then as your brand becomes popular in that area, you can then look into opening up a store of your own.

Take Your Business Internationally

In order to become an international success, however, you will need to take your business internationally. Thankfully, most countries welcome investors, who will provide enterprises that add more jobs to the community. In the United States, for instance, this program is known as the EB 5, though its requirements are changing. Thankfully there has been an EB 5 extension, meaning you should contact Hirson Immigration immediately to see what your options are to expand into the United States as soon as possible.

Expanding is an exciting time because it means that your business has succeeded to the point where you can build a legacy for you and your family. Take things slow and ensure you have all the information you need, however, before you make any expensive investments. You want your expansion efforts to be worthwhile, so you need to know where, when, and how to expand your brand.

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