How To Take Risks

How To Take Risks

While playing it safe can occasionally bring some peace of mind, sometimes it’s necessary to take a risk. Don’t let your fear of failure prevent you from venturing out into uncharted territory; as long as you adequately prepare, your risks can pay off. When deciding whether or not to take a risk, this list may help you evaluate whether or not you’re prepared.

Trust yourself. You’ve already taken one of the biggest risks of all, which is starting your own business. Now that you’re up and running, trust that you have the knowledge and skills to pursue your ultimate vision. If you find that you lack the self-confidence, identify your weaknesses and work on improving them through practice, research, and professional development. Others will find it hard to trust you if you don’t first trust yourself.
Think creatively. Creative thinking comes more easily for some than it does for others. No matter where you fall on the creative spectrum, you can always push yourself to think outside the box. Sometimes all you need is a tiny nugget of an idea to inspire a completely original thought. Observe how others operate, take stock of what could be improved about your business, and being to formulate ideas from what you already know. Creative thinking takes practice, so work on it often.
Know your field and product/service. A risky decision can quickly become an unwise one if you aren’t completely in the know about your industry as a whole or about the products/services you are offering. This is where the importance of professional development really comes into play. Attend industry conventions and workshops, conduct research, take a class at the local college, or consider finding a mentor. The more knowledge you have about your business, the more prepared you’ll be to assess your level of risk and decide whether or not to move forward.
Implement a support system and seek expert advice. It’s always wise to bounce your ideas off other people. A fresh perspective may be all you need to consider a possibility you hadn’t previously thought of before. It’s also important to have people that believe in you, and are rooting for your success no matter what. So surround yourself with loyal and successful people in whom you can trust to give you smart advice and encouragement.
Show courage. At the end of the day, it may just come down to whether or not you have the nerve to take a risk. Once you have done all the necessary preparation, tap into your inner hero. Take the calculated risk, knowing that you have done all you can to prepare, and with your eyes wide open. Showing courage in how you conduct business is a good leadership skill as well.
Never give up. Took a risk that didn’t quite work out the way you had planned? Don’t just scrap it and move on. Analyze why it didn’t work out, how you could do it differently, and what is involved in starting over. Who is to say you can’t give it another shot? Persistence is an excellent quality to adopt as an entrepreneur.
Don’t listen to negatives. Negative talk can undermine your self-confidence and ability to think clearly. If those negative comments are coming from others, separate yourself from such people. If this isn’t an option, make a conscious decision not to discuss your ideas with them. Sometimes negative talk comes from inside our own heads. Counteract negative self-talk by reading motivational books or making daily affirmations to build up your self-confidence. A healthy dose of self-esteem will improve your chances of success.

When contemplating taking a risk in your business, do your homework! Use your existing strengths and understand the potential benefits and challenges that come from taking the risk. Prepare yourself for worst-case scenarios and seek help when necessary. You may find that risk taking is the best thing you can do for your business.

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DSEF & BBB: “Bait and Switch” Coupon Scams Promise Savings, Deliver Spam

DSEF & BBB: “Bait and Switch” Coupon Scams Promise Savings, Deliver Spam

By Emily Patterson

Searching for coupons online is an easy way to save money. Unfortunately, it’s also an easy way to give your name and contact info to scammers. Be sure to verify a coupon deal is real before sharing your information.

How the Scam Works:

You need to make a purchase, but you hope to save money by finding a coupon online. A Google search turns up dozens of websites. Most of the online coupons promise a modest 10%-15% discount. But one offers a significantly better deal: 50% off your purchase.

You click the link, and the website looks official. It uses the logo of the business. It asks you to enter your email address and telephone number, promising that your coupon will be sent to you.

When you complete the form, you may be taken to a promotion for an unrelated (and untrustworthy) product. It may be anything from car loans to pharmaceuticals. Other sites do provide fake coupons to print, meaning that consumers don’t know they were scammed until the store clerk rejects their coupon.

This “bait and switch” is a way for unscrupulous businesses to collect names and contact info for resale. If your information is sold, you will start receiving spam calls, text messages and/or emails to the contact information you provided.

How Can I Tell Fake Coupons from Real Ones?

It is easy to copy a business’ logo and make a fake coupon look real. Identify fake coupons by the following warning signs:

It’s the only website with that great deal. If most websites offer a code for 10% off, a 75% off offer is likely a scam.
Be wary of all high value offers. A promo for a $500 gift card is nearly always fake.
Look for legal language and expiration dates. Online coupons need to match manufacturer requirements.
Never pay for coupons. Don’t be tricked into paying for something that’s actually free.
Watch for “bait and switch” tactics. This scam offers you online coupon codes and, once you agree, requires you fill in a form with personal information.
If you suspect that a coupon is fake, check it against this list. The non-profit Coupon Information Center maintains a li st of fraudulent coupons.

For More Information

To find out more about scams, check out the new BBB Scam Stopper.

DSEF and the Council of Better Business Bureaus (CBBB) foster honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visit www.bbb.org/us for more information.

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Ways to Establish Trust

Ways to Establish Trust

In the highly competitive small business world, it is of utmost importance to develop a level of trust between you and your clients. A strong professional relationship built on trust will bring you long term success through repeat business, loyal customers, and referrals. Here are some ways that you can improve your ability to establish trust in your professional relationships.

Be real. Most people will likely be able to sense if you are being insincere. Tap into your true desire to help people find what they need, solve a problem they have, and provide excellent service. It will be clear to others that you are a genuine person, and they will begin to trust you. Nurture that trust over time.
Be truly curious about everything. What are your clients looking for? How can you best serve them? Is there a more efficient way to conduct business that you haven’t thought of before? Become more inquisitive, and observe how other successful people operate. When your clients and colleagues see that you are always striving to improve, they will trust you as a person and as a professional. For example, a potential customer has just moved into the area and comes into your flower shop looking for an affordable option for his daughter’s wedding. He raves about the florist in his hometown and how he wishes he could still use him. Ask the prospect questions about why he loved this other florist so much and express your desire to fulfill that need. He will trust that you have his best interests in mind.
Keep personal conversations private. Separating your personal life from your professional life is a crucial part of owning your own business. Even if you have customers who are also friends, make sure that any personal conversations you have had with them stay between you. An easy way to break someone’s trust in you is to spread their personal life around town. Even if they haven’t specifically mentioned that discretion is needed, it is a good idea to err on the side of caution.
Become an expert. As the owner, you should be an expert in all things involved in your business. This includes products, industry trends, customer demands, marketing strategies, etc. Clients will trust someone they feel is knowledgeable about relevant topics and can educate them accordingly. If you owned a camera shop, and a customer came to you wanting something to get started as a beginning photographer but admits to knowing nothing about cameras, it would be your job to demonstrate your expertise. You would narrow down their choices, help them compare options, and ultimately guide them to making a wise selection. Your specialized knowledge will allow customers to trust your judgment.
Help others and always be respectful. This applies to almost every part of life, not just business. However, it often goes overlooked when people are under pressure and stressed out. Maintain a pleasant demeanor and practice appropriate social skills. Even if you come up short in other areas, it is unlikely that you’ll make a bad impression by being a genuinely nice person. Always treat others the way you would want to be treated; this includes everyone from VIP clients to mail room interns.

Establishing trust is a necessary investment to make in your business. Treat others well and always conduct yourself professionally.

How do you establish trust with your clients and colleagues? Please share your ideas below!

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4 Ways Photos Can Help You Grow Your Business

4 Ways Photos Can Help You Grow Your Business

If you’ve got a smartphone, you’ve got access to a camera, and you may enjoy sharing shots you take with your friends via social networks like Facebook and Instagram. But did you know that you can use that camera on your smartphone to help you grow your business? Here’s how:

Take pictures of yourself and other people using your product. All the words in the world about your product don’t match the power of a single picture. So take pictures of yourself or your family using your products, or ask customers to share photos of themselves using it. Have a contest where people submit photos when they see someone using your product while out and about, and offer a prize your for favorites. Then share these photos through your business presences. It’s a great way to show others that your product is used and enjoyed by many people.
Take pictures of your parties (with permission of course!) If you have meetings or parties where people can experience your products and learn more about them, take pictures! When people see how much fun your gatherings are, and how many folks are participating, it can encourage others to want to attend.
Take pictures of things you get to enjoy as a result of your business. Have you been able to take that long-awaited vacation because of your business? Do your kids get to participate in a special program or sport because of what you do? Share photos of those things, and be sure to let everyone know that your business is the reason you get to participate. It can encourage others to want to learn more.
Share photos of things unrelated to your business. Of course you want to share photos directly related to your business. But by sharing other photos, too, of things like sunsets, great meals, etc, you display your human side. Every time you share, you show up in the feeds of the people you’re connected to on your social networks. And each photo is a little reminder that you’re there, so people remember you. Then, when you share a photo related to your business, people are more likely to see it and respond.

Sharing photos as part of your marketing strategy is a great way to highlight what’s great about your business and products. It can highlight what you have to offer and connect with people when words fall short.

How do you use photos to promote your business? Please share your thoughts in the comments.

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DSEF & BBB: 10 Tips to Help You be a Savvier Shopper in 2013

By Kelsey Owen

A new year is a great time to resolve to be a smarter, safer shopper. BBB has 10 resolutions that can help you fight scammers, prevent identity theft and save money in 2013.

Always check a business out with BBB before you buy. Nearly 400,000 businesses meet BBB standards and are qualified to use an Accredited Business seal on their websites and business locations. Visit www.bbb.org to find BBB Business Reviews for more than 4 million businesses across North America.
Be skeptical of “job offers” that promise easy money. With high unemployment and long job searches common, scammers are targeting people desperate to find jobs. Beware of any job offer, work-at-home scheme or business opportunity that promises big money for little work and no experience.
Always read the fine print—especially with “free” trial offers.Thousands of consumers complained to BBB this year after signing up for a “free” trial offer online that resulted in repeated charges to their credit or debit cards, sometimes amounting to hundreds of dollars every month. Read the terms and conditions of any “free” trial offer before handing over credit or debit card numbers.
Keep your computer safe. If you haven’t already done so, install anti-virus software on your computer and check regularly for software and operating system updates and patches. Don’t open attachments or click on links in emails unless you can confirm the email came from someone you trust.
Never wire money to someone you don’t know. Many scams require that the victim wire money back to the scammers. Scammers know that tracking money sent via MoneyGram or Western Union is extremely difficult. Once you’ve wired the money, it’s almost impossible to get it back. Stay up-to-date on the latest scams via BBB’s Scam Stopper.
Fight identity theft. Shred paper documents that include sensitive financial data and dispose of computers, cell phones and digital data safely. BBB offers tips and checklists on what to shred, and hosts annual Secure Your ID Day events nationwide to help you stay safe.
Ask BBB for help. File a complaint with your BBB if you have a disagreement with a business or have been ripped off by a scammer.
Create a budget and stick to it. Setting a budget can help you stay afloat in 2013. BBB has advice on how to create a budget to help you get out of debt and stay out of debt at www.bbb.org.
Fight fake check fraud. Thanks to advances in printing technology, scammers have the ability to create professional-looking phony checks. Educate yourself on the common types of check fraud and be extremely wary of checks that come with claims that you’ve won the lottery, are eligible for a government grant or have landed a job as a secret shopper. These are almost always scams.
Get everything in writing. Don’t just take a company’s word for it. Get every verbal agreement in writing to limit miscommunication and misunderstandings between what you expect and what the business delivers.

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How Your Business Can Solve Real Problems

In order to maintain a long-term, thriving business, it is important that you offer a solution to real problems that people face. To do this, take the time to find out what these problems are, what solutions have been tried and failed in the past, and how your product or service can fulfill that need. The following is a basic list of suggestions for how to solve real problems with your business.

Look for a need. This is especially important in over-saturated industries where a great deal of competition exists. For example, a metropolitan suburb with a bustling downtown area is home to several different restaurants on every block. The reason each one is successful is because its owners have satisfied a need. Local residents want the convenience of city life while maintaining the quiet, more laid-back, affordable lifestyle of living in the suburbs. Their downtown area is like a prized possession, especially because of the shopping and dining that exists. Each restaurant offers something different, whether it’s a specific type of cuisine or a particular ambiance Without these options, local residents would have to travel into the city to find unique dining options, so these restaurants together fulfill a need for a convenient alternative.
Provide good value. At a time when everyone is watching his or her pennies more than ever, it is crucial to provide a good value. Is your product or service versatile? Is it reliable? Don’t forget to factor in those elements when deciding on price points. People are willing to pay more for something that is of high quality and can be relied upon. Another key aspect of value is the level of customer service you offer. When customers know that you genuinely care and that they can trust you, the value of your product increases.
Make sure your product or service is for long-term use. Have you ever bought something that needed to be replaced shortly thereafter? How likely were you to purchase from the same company again? Only offer products that will last a reasonable amount of time and services that can be used for the long term. That Bluetooth headset you sell should last a customer longer than his or her cell phone contract does. Similarly, those students who pay you for private voice lessons should be taught techniques that can be used in any style of music at all levels. Repeat customers mean long term success.
Seek out client feedback. This should be a top priority. Asking for feedback can be done informally through casual conversation or in writing on a survey card provided at checkout. Whatever strategy you use, listen carefully and adjust accordingly. You may have customers that swear by your products but aren’t being provided quality customer service by your staff. If this is the case, wouldn’t you do everything necessary to change that? Your clients are the backbone of your business, so listen to what they tell you.
Make improvements that benefit clients. Based on feedback you receive and other observations you make about how your business operates, make improvements that benefit the client first. For example, the owner of a small fitness studio wants to make renovations to her outdated space. As much as she looks forward to a lobby with a more efficient layout and an exercise area with new padded flooring and a state of the art sound system, she can’t afford to make all these renovations at once. The improved flooring will benefit her clients the most, as it will be easier on their joints and more pleasant to exercise in general. Make decisions with your customers in mind.

Step outside of your role as a small business owner and take an honest look at how you can solve real problems with your business. Evaluate your products, talk to your customers, and make improvements accordingly.

How do you solve real problems in your business? Please share your answers below!

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Why You Procrastinate

Procrastination is a challenge we all have from time to time. Perhaps there is a fear of failure, being overwhelmed by a complex project, or too many distractions in our daily lives. The good news is that there are several effective ways to combat this problem. If procrastination gets the better of you, ask yourself the following questions.

Are you settling for less? Procrastination may be caused by a lack of passion. If you are settling for less, then whatever it is that needs to be done feels unimportant, and the result is procrastination. So, make sure you understand why you want to achieve your goal and make it meaningful. Realize that action is required to reach what you want, and it is necessary to put forth your greatest effort each time to achieve success.
Do you have a clear goal or plan of action? Lack of direction is a common reason why people procrastinate, especially when tackling a long-term project. Set an objective that includes your desired outcome, and then break it down into smaller, manageable parts. If you need to redesign your company’s website, for instance, decide why it should be done and what will come of it. Your objective might be: Redesign the company website to improve customer navigation, increase internet visibility on search engines, and reach a broader customer base. Now that you have laid out the reasons why you are tackling such a project, you can more easily break it down and focus on just one step at a time.
Do you have a support system, such as a mentor, role model, or advisory group? When you are self-employed, it may seem like the weight of the world is on your shoulders since everything about the business depends on you. Don’t carry this burden alone. Instead, seek out others to guide and support you along the way. Is there a former employer you trust to give you sound advice? Are other local entrepreneurs interested in creating an informal support group for small business owners? You will be much more motivated to act when you surround yourself with like-minded people who truly want to help and support each other.
Have you set your priorities? The list of goals we want to achieve or tasks we want to accomplish can become so long that we don’t know where to begin. Start by prioritizing your goals or tasks in a way that works for you and your business. Some people find that a daily to-do list is the best way to stay focused. Each day contains a list of tasks that either must be completed or canwait until the next day. Implementing such a system will prevent important tasks from being overlooked.

Don’t beat yourself up for procrastinating; it is a common problem, especially in today’s world filled with distractions and personal obligations. Do make the choice, however, to be proactive. Procrastination can prevent you from achieving your goals, so take charge of your business and be passionate in the actions you take.