Time for a Small Business Check-Up

Time for a Small Business Check-Up

When was the last time you performed a check-up on your business? It’s an important practice. Think of it like maintenance on your car: every three months or 3,000 miles, you change the oil, rotate the tires, and possibly top off the fluids and check the engine. Doing so will help you identify and correct small problems, in order to keep your car running smoothly for years to come. The same goes for your business. By regularly scheduling a review of your business activities, you can make sure you focus on the things that are helping your business grow, while correcting things that would hold you back.

When performing your small business check-up, here are some of the elements on which you should focus:

Review your finances, looking for ways to reduce expenses and maximize profits. For example, you’ve been purchasing your office supplies from the same distributor for many years. Do some research to make sure you’re still getting the best price. Furthermore, reduce expenses by eliminating non-essentials. Take note of what you use on an everyday basis for about a week to figure out where you might be able to cut back.
Use a third party to help you objectively assess risks and weaknesses. For any risks you have recently taken or are thinking of taking, seek a third party’s perspective. They may be able to help you catch a detail you have missed. For example, one local children’s boutique owner is thinking about changing locations to gain more space for her expanding product line. She asked the opinion of a friend who lives in the area of the prospective location, who quickly informed her that although the location gets a good amount of foot traffic, most of the clientele is not her target market. This is a valuable piece of information that could have a make or break effect on the business.
Consider each of your business processes from start to end. What happens from the time a customer enters your business for the first time to the moment he or she leaves? Is the person greeted cordially, offered assistance and given it accordingly, served promptly, and treated with respect? Customer service is a major aspect of your business and its process deserves frequent review and improvement. Give the same attention to each of your processes when conducting your business check-up.
Review your overall strategy and make necessary adjustments. Is your strategy to reach the widest customer base possible? Do you strive to carve out a niche market and cater to a specific few? Whatever strategy you have laid out for the success of your business needs careful and frequent review. Create a list of what is working and what isn’t. Make adjustments where they are needed, and don’t be afraid to ask for feedback and help.

The long-term success of your business will only happen if you tend to the details on a regular basis. Some areas may need more attention than others, but reviewing these aspects often will help you avoid potential setbacks, and focus on the growth of your business.

How do you check up on your business? Please share your ideas below!

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DSEF & BBB: Will You Have to Pay a 4% Surcharge for Using a Credit Card?

DSEF & BBB: Will You Have to Pay a 4% Surcharge for Using a Credit Card?

By Caitlin Vancas

Did you know that every time you make a credit card purchase, the store you are buying from pays a fee to the credit card company? Did you also know that as of this week, PA merchants are able to pass along up to 4% of these credit card interchange fees to customers?

All but ten states (CA, CO, CT, FL, KS, ME, MA, NY, OK, TX) are allowing merchants the option to incur these new surcharges. Luckily, if a business does decide to add a check-out fee for credit card users, it must be clearly posted near the door of a physical store location or on the website for web transactions. Customer receipts must also clearly state any additional costs to consumers using a credit card. Purchases made by debit and pre-paid cards will not be impacted.

According to the National Retail Federation, merchants are unlikely to begin surcharging for credit card use. What do you think? Your BBB recommends asking stores you frequent about any additional costs that may be incurred if you pay using a credit card. If a merchant does not follow the rules about alerting consumers to these fees in their store or website, notify BBB and the FTC. Click the links for more information about the surcharge on Visa and MasterCard’s websites.

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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How to Handle Criticism of Your Business

How to Handle Criticism of Your Business

Wouldn’t it be great if everyone was as excited and positive about your business as you are?

Unfortunately, every business owner eventually encounters critics…people who only have negative things to say about you or your business. Sometimes these comments come from complete strangers, but sometimes they come from those who are closest to you. And it can be discouraging! Fortunately, you are not the first (and far from the last!) to deal with critics as an entrepreneur, and there is lots of wisdom to be gained from those who have “been there, done that.”

We asked our community on our Facebook Page to share some of their experiences. Here is some of the great advice they shared:

Find misconceptions, and share the facts. Howard Fidler from Minnesota writes: “Find out what their objection is and then give them facts to overcome it,” and Marcia Flach from Texas suggests: “Ask them questions!” This is always a great strategy. By asking specific questions you can uncover the reason for the criticism. It may be that the person you’re talking to misunderstands some aspect of your business or is making certain incorrect assumptions. By providing facts that counter the misconception, you can overcome the objection and possibly create a new customer or business partner.
Respect differences of opinion. Occasionally, you and the critic may just disagree on certain points. And that’s OK too. Respect their right to disagree with you, and leave things on a friendly note. You never know when, down the line, someone may have a change of heart. If you’ve left the door open and friendly, they may eventually come back to you! As Mark Arsenault from California says, “Be pleasant, then go achieve massive success!”
Know when to move on. Sometimes you need to realize that no matter what you say, someone doesn’t want to hear your side. And that’s OK. There are plenty of other people who will be open to learning more about your business. As both Robyn Mohs from Montana and Christina Ortiz from Texas shared…”Next!”
Refuse to dwell on negativity. Sometimes, even after the critic has stopped talking, we continue to think about what he or she said, running it over and over in our minds. And too much of this can stop you in your tracks. Don’t let it keep you from focusing on your own success. John Taylor advises: “Move on. Life is too short to deal with Negativity!!!!”

Finally, we leave you with these wise words from Kelley Michelle Barnett of Texas: “I was told to accept the word no, put a smile on and deal with it because when you least expect it you will get a yes and straight up positive.” Good advice indeed!

How do you deal with people who criticize your business? We’d love to read your advice in the comments below!

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Being Opportunity Minded

Being Opportunity Minded

A successful entrepreneur has many characteristics: ambition, good work ethic, and strong leadership skills to name just a few. One often overlooked quality, however, is always being on the lookout for opportunity. Whether things are going well or could use improvement, by looking at situations as possible opportunities, you’re paving the way for further learning experiences and long-term success.

Here are some ways to keep yourself open to opportunity:

Focus not just on working harder, but working smarter. If you find yourself putting in endless hours but you’re still not able to stay on top of your responsibilities, it’s a good idea to re-evaluate how you’re spending your time. Maximize efficiency by eliminating distractions, prioritizing responsibilities, staying organized, and being proactive. For more on this, see: Balance Without Sacrificing Business (How to Make Your Business More Efficient)
Consider “no” as “not yet.” The reality is that you are going to hear that dreaded word, “no,” over and over again. The key is to not let it discourage you. Instead of interpreting it as “no,” think of it as, “not yet.” This will keep you from prematurely closing the door on a potential opportunity. Although “no” sometimes really does mean “no,” keeping your mind open to the possibility that a “yes” may happen eventually will ensure you don’t miss out on a future opportunity.
Have a long term outlook for your business. Where do you see your business in five years? Ten? Creating a long term plan for your business gives you direction and allows you to continue moving forward. Competition increases, technology evolves, and customers’ needs change. Always stay on top of current business and industry trends so that you aren’t left behind.
Network and explore new social groups. Networking should be a constant in your business. Look to expand your network not only at formal events like industry conventions, but also within your community among people you meet and people you already know. Consider stepping out of your comfort zone and exploring new social groups. Join a book club or volunteer at the local hospital. You’ll find that you are not only meeting new people, but enjoying yourself at the same time.
Establish and maintain a great reputation. Strive for excellence in all areas to establish a stellar reputation. Once you have done so, make it clear to your staff that maintaining your reputation is a top priority. Unfortunately, all it takes is one incident to cast doubt on your abilities and tarnish your good name. Practice integrity and consideration for others in all you do. Your reputation will speak for itself and open doors to new and exciting opportunities, such as professional partnerships and word-of-mouth referrals.

Adopting a positive attitude and being on the lookout for opportunity will increase your chances of professional success. Seek help when you need it and help others as well.

How do you keep your mind open to opportunities? Please share your thoughts below!

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Establishing Your Online Presence

Establishing Your Online Presence

The internet can provide tremendous exposure for your business, when used correctly. For this reason, establishing an online presence is not a task to be taken lightly. It can be overwhelming to get started, however, especially with all the different online options to choose from. Here are some tips to help you narrow down your goals and present yourself on the internet in the best possible light.

Quickly and clearly let people know how you can help them with your product or service. Your main objective should be solving a problem for your potential customers. State clearly how you can do that right away on both your website and your social networks. For example, on your company website, the home page is the first online impression (and sometimes first overall impression) people will get of you and your business. Use images and very brief text to communicate how you solve that problem, and provide one or two clear calls to action, where people can learn more and sign up for your list. Avoid too much text on your home page, which can cause people to leave your site right away. If presented effectively and visually, that initial impression will keep people on your website and encourage them to explore further.
Provide honest facts. Facts about the types of customers you’ve served, other businesses you’ve worked cooperatively with, awards you’ve won, or community service you’re involved in are all helpful in educating a prospect about the type of business you operate. If you’re a new business with little or no history, state realistic goals. How do you plan on contributing to your community and to your customer base?
Never pretend to be something else. Trying to present yourself as something you are not will only hurt you in the long run because any prospective employees or clients will be set up for disappointment. Be honest and truthful about who you are and what you provide.
Use real photos, not stock. Stock photos are impersonal and lack creativity. Additionally, visitors to your website or social media presence will be put off because they can’t get a realistic look into your business. Use photos of your office or retail space, employees and customers (with their written permission), and products. People want a true impression of what to expect when patronizing your business.
Stay current and update your site. Always keep abreast of current industry trends and product research as they pertain to your particular business. Incorporate this knowledge into your online presence. As for your company website, frequently check for broken hyperlinks, outdated contact information, discontinued products, etc. When doing so, consider asking someone else to explore the site. A fresh set of eyes can help point out something you may have missed.
Make your site customer-focused. Your website should be user-friendly and focused on how the customer can make the best use of it. Your site should be easily navigable, convenient to use, and aesthetically pleasing to the eye. Consider asking current customers to visit your website and tell you what they think of it.
Choose the social networks your customers use. Not sure which ones they use? Ask them! Most likely they are using Facebook, but are they on Pinterest or Instagram? By choosing the social networks where your customers and friends like them are spending time, you can more effectively communicate your message without wasting time on social networks where you’re less likely to get results. Click these links for some tips for setting up a social media presence for your business:

Also be sure to explore the online presences of your competitors to gather ideas and find out which techniques are effective, and which are not. Make sure the message and goals of your business are portrayed accurately online, and adjust when needed.

What tips do you have for establishing an online presence? Please share them below!

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DSEF & BBB: 6 Tips For Safe Mobile Banking

By Jerri Stroud

Banking through your mobile phone is catching on fast, with a third of U.S. cell phone users expected to try mobile banking over the next year.

But how safe is it? What happens if you lose your cell phone or if someone steals it? Can they empty your bank account simply by tapping their smart phone against yours?

The BBB advises consumers to be smart about mobile banking, and these six tips can help:

Install antivirus applications on your mobile device to protect yourself from viruses or malware when you download other applications or content.
Keep your passwords, personal information and bank account numbers private. Don’t share them with anyone unless you initiate the contact and you know you are dealing with your bank or its mobile application.
Don’t save passwords, personal identification number (PIN), answers to secret questions or account numbers on your device. Make sure you use strong passwords, which include numbers or symbols in addition to letters.
Set your phone or other mobile devices to require a password when they are powered up. Never set the device to automatically log in to your bank account.
Don’t respond to text messages asking for your banking information. Assume that any unsolicited text message is fraud. Your bank will not contact you by sending a text message.
Notify your mobile service provider and your bank if your phone is lost or stolen.

For more consumer tips or to check out a company’s BBB Business Review, go to www.bbb.org.

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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.

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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.