Whether you are a small business leader, sales manager or sales rep, taking time out to go on a sales training program is difficult to balance against the day-to-day demands of your business. Fortunately, there are many online resources that can help you develop B2B sales skills without the need for time away. In this… The post Sales Training Programs – 28 Online Sales Programs, Blogs & Video Channels appeared first on . from http://fitsmallbusiness.com/sales-training-programs/
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#Smallbizchat is a weekly conversation where small business owners can get answers to their questions. The focus of #Smallbizchat is to end small business failure by helping participants succeed as your own boss. Please join us live on Twitter every Wednesday 8-9 pm ET. Here’s how: follow @SmallBizChat on Twitter and follow the hashtag #Smallbizchat and click here for directions to join the weekly conversation. This month, we’ll be on Twitter talking about launching and growing a product based brand, having a greater impact, creating a brand experience, and getting your business unstuck. Here is a list of who is on #Smallbizchat in September. September 6th – How to Launch and Grow a Product Based Brand, @INDIEbusiness Donna Maria Coles Johnson is an attorney, author, and entrepreneur mentor. She is the founder of the Indie Business Network, which trains the next generation of entrepreneurs who make the products they sell. Visit her site at www.indiebusinessnetwork.com.
September 13th – How to Have a Greater Impact in Your Small Business, @jsonenshine Joanne Sonenshine is Founder + CEO of Connective Impact, a company focused on bringing like-minded organizations together to improve how we utilize resources and address the crises of our time. She is also author of ChangeSeekers: Finding Your Path to Impact. For more information, visit www.connectiveimpact.com.
September 20th – Be Unforgettable: 6 Tips to Creating A Brand Experience, @Kreative_Eye Teanna Ross is the CEO of Kreative Eye. She works with entrepreneurs and small business owners to brand and market their business. Learn more at www.kreativeeyedesign.com.
September 27th – How to Get Your Business Unstuck, @barrymoltz Barry Moltz gets business owners growing again by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures as well as consulting countless other entrepreneurs, Barry has discovered the formula to get stuck business owners unstuck and marching forward. After successfully selling his last operating business, Barry has branched out into a number of entrepreneurship-related activities. He founded an angel investor group, an angel fund, and is a former advisory member of the board of the Angel Capital Education Foundation. Barry’s fifth book “How to Get Unstuck: 25 Ways to Get Your Business Growing Again” is currently available on Amazon. For more information, visit: www.barrymoltz.com Every Thursday morning on Melinda’s blog, a complete Q&A interview from each #Smallbizchat is posted as a recap http://www.succeedasyourownboss.com The post Who’s on #Smallbizchat September 2017 appeared first on Succeed As Your Own Boss. from http://succeedasyourownboss.com/whos-on-smallbizchat-september2017/ Compa Ratio, short for comparison ratio, is a comparison of the salary you are paying your employees versus the market midpoint for similar positions at other companies. Compa ratio is a useful metric to have when setting salary levels or negotiating raises, and it helps you avoid losing talent to other companies. Use Indeed’s salary… The post Compa Ratio: What It Is & How To Use It appeared first on . from http://fitsmallbusiness.com/compa-ratio/ The number one obstacle for short-term real estate investors is fix and flip funding. Investors need capital to purchase and renovate a house before they can flip the house for a profit. Luckily, there are four fix and flip financing options available to flippers. These fix and flip loans will work for both novice and… The post Fix and Flip Loans: The 4 Best Fix-and-Flip Financing Options appeared first on . from http://fitsmallbusiness.com/fix-and-flip-loans-fb/ In this article we review the best three hard money lenders: LendingHome, RealtyShares, and Patch of Land. All three have positive reputations (hard to find in the industry) and together provide a good mix of options for the small business owner. Best Hard Money Lender *Last Updated: August, 2017 Best Hard Money Lender 2017: LendingHome LendingHome… The post Best Hard Money Lenders 2017: LendingHome vs RealtyShares vs Patch of Land appeared first on . from http://fitsmallbusiness.com/best-hard-money-lenders-fb/ A Rollover for Business Startups (ROBS) is a way to invest funds from your retirement account, like a 401k or IRA, into your startup business without paying early withdrawal penalties or taxes. A ROBS isn’t a business loan, or even a 401k loan, so there’s no paying back debt or interest. Guidant is our recommended ROBS… The post Rollover For Business Startups (ROBS) – The Ultimate Guide appeared first on . from http://fitsmallbusiness.com/rollover-business-startups-robs-fb/ Figuring out the true cost of an equipment lease can be tricky. Often, you have to calculate the cost for three different lease options: a fair market value lease, a dollar buyout lease, and a ten percent lease. Our easy to use equipment lease calculator will help you accurately plan for the cost of all… The post Equipment Lease Calculator appeared first on . from http://fitsmallbusiness.com/equipment-lease-calculator/ Job costing software lets you easily evaluate all of the costs associated with a project, including labor and overhead, and compare them against the revenue the project generates to calculate your profits and losses on a per project basis. We looked at the most popular options and rising stars and decided to review WorkflowMax, Mavenlink,… The post Best Job Costing Software: WorkflowMax vs Mavenlink vs BillQuick appeared first on . from http://fitsmallbusiness.com/best-job-costing-software/ Equipment loans can help small businesses finance large pieces of equipment like vehicles or heavy machinery. In this article, we’re going to cover what an equipment loan is, how it works, and where to get one. We’ll also discuss the differences between equipment loans and equipment leases so that you can choose the option that… The post Equipment Loans – How They Work, Where to Find One, and More appeared first on . from http://fitsmallbusiness.com/equipment-loans/ We all dream of it: making $1 million in revenue. This arbitrary number has become a symbol for success for small business owners, and while struggling to reach this major milestone, realize this: once you get there, the way you run your business will change. In fact, it probably will have evolved over time as you crept closer to that revenue goal. I always think it’s important to prepare for the next level in your business. I interviewed several business owners who have made $1 million or more in revenue, so that I could share insights into how things will change. You Let Go of the Micromanaging Rahul Alim, President of Custom Creatives, a digital marketing agency, said that growing his business to $1 million in revenue meant he had to let go of trying to do everything. “I went from doing 100% of everything in my business to letting things go and stopped micromanaging everyone as we grew by headcount. It gave me flexibility to delegate and focus on high priorities rather than cold calling, filing, or other administrative tasks.” You Work Harder Understandably it’s thrilling to reach that point of knowing your little business is secure financially. It validates your hard work and lets you know that anything is possible. Blair Critch, Le-Vel Brand Promoter, started out as an entrepreneur simply wanting to help support her family. But once she hit the million-dollar threshold, she began working even harder, with no obstacles in front of her. “When you see yourself accomplish something of this magnitude you become unstoppable and truly understand what ‘the sky’s the limit’ means.” Your Perception of Money vs. Time Shifts Most small business owners go out of their way to save a buck, and that’s understandable when budgets are tight. But as you grow, Marcio Souza, CEO and Co-Founder of Clutch Prep, said that how much energy you put into saving money will change. “One way in which we have had to adapt continuously, as we grow, has been with regards to calibrating how we value cash vs. time: whereas in the early days it made sense to spend days to save a few hundred dollars, now that we have more revenue, it’s often wise to ‘pay’ more to save staff time to move faster.” You Must Stay Willing to Adapt Lisa Chu, owner of Black N Bianco clothing retailer, said yes, hitting her first million was a huge deal. “I worked very hard and for many years to achieve this success. Things remained the same because I value the importance of staying humble. In business, things can change in an instant, but by staying humble it keeps me sharp and willing to adapt and learn.” Critch agreed. “Absolutely, it is a big deal. My lifestyle stayed the same. But now it just makes traveling with your loved ones and treating yourself easier. We definitely have been taking the kids on more trips so that they can experience what the world has to offer.” How to Grow to $1 Million in Revenue Naturally, the question on your mind is “how in the heck do I grow my business to $1 million?” Here’s how these entrepreneurs did it, so take notes. Focus on Attracting New Customers Alim of Custom Creatives said his team spent a lot of time focusing on how to attract new customers, as well as developing solutions to grow their clients’ businesses. They also expanded their offerings to encourage clients to spend more with them. Build Brand Awareness Chu said she put in many years of hard work trying to build credibility for her brand. She provided excellent products and customer service, which eventually created more brand awareness purely through word of mouth. “Being a small business that had a personal connection with my target audience was the catalyst to my success.” Make Yourself Replicable Critch has more practical tips to grow your business. She said that in addition to making sure you love your business enough to work hard over time, you should also make yourself replicable. “This doesn’t mean you will be replaced; it just means that you’ve trained your people to ‘think as you do’ so they can function independently, leaving you more time to find creative ways to grow the business.” Invest Outside of Your Comfort Zone Changes in how you operate your business don’t just start at the $1 million threshold. Jeff O’Hara, President of AlliedPRA New Orleans, said that it’s easy to find yourself stuck at a certain revenue level unless you invest outside of your comfort zone. “Bring on new sales people and team leadership before the revenues justify the expense, that’s what we did. In other cases, in means investing in new products or inventory, or upgrading technology. It’s scary, and it happens before you get to $1M, happens again before you get to $3M, and on and on as the business grows.” Grow Your Profit Margins It wouldn’t be the SmallBizLady, if I didn’t add my own advice to get to one million in revenue. Dig deeper in your niche. Figure out how to become the #1 resource for what you sell. Stay focused on increasing the profitability of your company. It’s not just about your revenues and build a processes and systems that will allow you to sell your business one day, if you want too. But…Is Hitting $1 Million Even a Big Deal? Yes, for some. But it is an unscientific measure of success. It does signify that a business has a sustainable business model, it can be a false sense of success too. At the end of the day, it’s not what you make, it’s how much you keep. Back in 2007, when I was writing my first book, Become Your Own Boss in 12 Months, I almost didn’t finish the book because I didn’t think I was successful enough. Imagine all the people who would not have been helped to grow their businesses had I bought into that ideal. Grossing $1 million in revenue is a major accomplishment. And when you get there, pat yourself on the back. It’s a milestone that relatively few small businesses ever reach, so be proud of yourself and your company. Then develop a strategic plan to hit $3 million. It never stops…. The post How Does Your Business Change Once You Hit $1M in Revenue? appeared first on Succeed As Your Own Boss. from http://succeedasyourownboss.com/business-change-hit-1m-revenue/ |
AuthorHello I am Teri Crawford 26 years old living in Toronto, Canada. I have recently finished my MBA and planning to start my own business. Archives
November 2018
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