8 Steps to Create a More Efficient Business

8 Steps to Create a More Efficient Business

For many of us, maintaining our business is what we focus on every day. We rely on what’s been working and old routines. However, by implementing small changes, you can make your business more efficient and more profitable.

Here are some tips to help make your business more efficient:

Create or review and if necessary revise your business plan to help you focus on your business goals.
Make a chart highlighting your goals and include a calendar that shows daily steps toward obtaining your goals.
Implement schedules and budgets. Create schedules to clarify time management, and carefully track budgets to reduce expenses.
Formalize your processes. To start, walk through processes that your business uses frequently. Then, formalize best practices and methods in that process. This will make things run more smoothly and reduce confusion.
Use practical technology to make communication better, to help yourself stay better organized, and to save money on paper and wasted time.
Provide a forum for feedback from team members and customers. People who do the work every day or use your products/services can help stream line your business processes and generate positive buzz.
Do a formal business assessment. Evaluate your duties, schedules, budgets, processes, technologies and feedback from employees and customers. Ask yourself if these processes can be done more quickly, reduce waste, do double duty, generate more customer satisfaction, and save money. Your assessment could be done quarterly, bi-annually or annually.
Think through new processes. Prepare a plan to roll out new systems/ideas, assess their implementation, and deal with adjustments and complaints.

Businesses that improve will succeed, and efficiency is key! In assessment, we try to reduce errors and build upon successes.

How do you make sure your business is running efficiently? How do you review/adjust? Would love to read your thoughts in the comments below.

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22 Ways to Earn Extra Money

22 Ways to Earn Extra Money

There are many reasons to take on extra side jobs. Sometimes we need to make extra money because we want to save up for something, or simply have extra spending money. Sometimes it’s just for the pure enjoyment of working on a job we love. And for some, it’s to test the waters and see if we have the entrepreneur “chops.” For many it’s most likely a combination of reasons.

Whatever your reasons, here are some ideas to make extra income:

Pet sitting/walker
Pet grooming
Lawn mowing/ Lawn maintenance
House or Business cleaning
Selling homemade goods on a site like Etsy
Kids party organizer
Childcare
Senior care
Personal baker
Personal cook
Personal spa treatments
Substitute teacher
Tutor
Specialized skill services – like teaching a foreign language, sewing, teaching music, etc.
Local delivery service
Personal car washer/detailer
Sell baked goods
Personal chauffeur
Garage sales
Handy fix-it person
Painter
Direct sales opportunities (this can be part time or full time, depending on how much money you want to make)

You might even want to partner with your older kids. It’s a great life lesson, and a great way to teach finances, goal setting and math in a practical application.

Do you have other ideas to generate extra income? Do you use life experiences to teach your children about finances and math concepts? Would love to read your thoughts in the comments

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Feeling Stuck? Tips to Get Yourself Moving

Feeling Stuck? Tips to Get Yourself Moving

Call to action!

There are times when you just don’t want to do something, or you feel it’s too overwhelming to even begin. Here’s a process that can call you to action!

Write down your goal and post it somewhere you will see it. Include how it will make you feel when you achieve your goal.
Create a simple and easy work mantra – for example “One more step to get ahead!” Saying your mantra as you work will help cancel any negative thoughts as you work through your task.
Ask yourself, what would get you moving? It might be turning on some loud music, posting motivating quotes around your work area, turning on all the lights to make your work area brightly lit, using motivation tapes, setting a loud timer, and/or asking a friend to be your accountability partner.
Break it down to smaller tasks, and if it’s an extremely large goal, break it down by time. For example:
• 5 minutes to finish the first step
• 10 minutes to finish the second step
• 15 minutes to finish the third step
Consider how you break down the time. Make sure it’s appropriate to complete the task.
Give yourself small rewards in between completing several steps toward your ultimate goal.
Change location. If you can’t work at home, then go to the library or to the park.
Be positive, use positive words and never beat yourself up.
Keep going. If you get off schedule, just dust yourself off and start where you left off.

Life is like a river. Your action is like a boat and paddle. Use it to get to where you want to go, or you may end up going nowhere.

How do you get yourself motivated? How do you get through difficult tasks? Would love to read your tips and advice in the comments.

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How Can Partnerships Grow Your Business?

How Can Partnerships Grow Your Business?

Have you ever considered forming partnerships to grow your business? They can be powerful!

How does entering a partnership help grow your business? Imagine, your local health food store partnering with your local gym, a make-up artist with a wedding dress store, a caterer with a cookware store and an interior decorator with a real estate agency. Imagine the possibilities for your business! And if you’re a new business, what an effective way to promote and build your new business.

Entering partnerships to grow your business

The benefits of partnering with another business:

Increase your customer base quickly.
Increase word of mouth and exposure in less time.
Share business expenses.
Provide greater value to your customers.
Increase expertise and knowledge.

Here’s your checklist before entering into partnership:

Find someone local to partner with.
Be completely objective in picking the right partner. (Don’t just pick your friends…be sure it’s a good match for your business.)
Find a partner with complementary products or services and not a competitor – for example a shoe store with a clothing store, a vitamin distributor with a health club, or a chocolatier with a wine shop.
Know what you want from the partnership, and set goals that you want as outcomes.
Write everything down. Clearly state expectations and responsibilities, and consider drawing up a contract.
Anticipate and discuss all the challenges and problems before partnering.
Start with a single project before doing more together or becoming long term partners.

So if your business is slowing down or needs an injection of new mojo, a partnership might be in your horizon. Follow these tips and make your new partnership a success!

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The Power of a Plan and 30 Days

The Power of a Plan and 30 Days

There are shelves and shelves of books written to help people succeed. Countless speakers from every persuasion that will show you the “secret to success” and coaches will make sure you get there! Many of them are legitimate. But even with all the help, you will have to do the work yourself to make it happen.

So are you ready to get started? Here are some basic steps, without the bells and whistles, to reaching your goal, along with a plan to help you reach a goal in 30 days.

Step 1 – What do you want or don’t want? Answering this question establishes your goal, either to achieve something or to avoid something. Write it down!

Step 2 – Identify and write down the joy you will feel when you achieve what you want, and identify the pain of not achieving it. This is your why and purpose. Make your why statement part of your business mission.

Step 3 – Take a break and watch this video clip about the possibilities in 30 days!

Matt Cutts: Try something new for 30 days – http://ow.ly/6nRw1

Step 4 – Start today. Break down your goal into 30 days. Write down at least one step necessary to achieving your goal every day. If your plan requires more than 30 days to accomplish it, then start with the first 30 days, and then keep going until you achieve your goal. Give yourself from 5am until midnight (or whatever your schedule is) to accomplish your task(s) every day. This is your plan.

Step 5 – Include time to savor your journey and think about your experiences.

This simple process will create change and help you build momentum! You can do it! Remind yourself why every day.

How do you create the discipline necessary to achieve your goals? What would you add to this list? We’d love to read your thoughts in the comments below!

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Keeping Your Personal and Business Finances Separate

Keeping Your Personal and Business Finances Separate

Are you keeping your personal and business expenditures separate? This is a daily task that can get muddy for small businesses quickly, and can make tax time a real headache.

Here’s a checklist to keep this task simple and clear. Follow these simple steps and you won’t get things confused when it’s time for filing your taxes.

Maintain separate checking accounts. Having all business payments and expenses on one bank statement will give you a clear idea of your business finances, and when it comes time to do your taxes you can use your bank statement to clearly explain your business accounting.
Use a business credit card. A business credit card will help your business build credit history as your business grows. Keep all your business expenses on one statement and avoid using your personal credit card for business.
Maintain two separate places for personal and business receipts. If you have a very small business it may be as simple as two shoe boxes. Use one box for business expenditures and another for personal. As your business grows you should use some type of accounting software.
Keep a log of your business expenses. For example, if you use your personal car for business regularly write your mileage down, or even better, keep track of it on your computer/smart phone.
Your home office is for business, period. If you have a home office for your business and want to claim it on your taxes, you need to keep it for business use only and not anything else like a guest room.
Understand what a business expense is and what it is not. You cannot add personal activities into a business meeting and call it a business expense. It must be for business completely or it’s not a business expense.

Following this simple checklist will help you during tax time because your personal and business finances are separate. Now you can focus on growing your business!

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Tips for Improving Your Communication Skills

Tips for Improving Your Communication Skills

“How’s the weather?”

“Hey, how are you doing?”

Is this how you start a conversation? But then it suddenly ends and it feels a bit uncomfortable. In a split second, your conversation start and ends without any genuine communication. Having great communication skills helps you network, expand your influence and create lasting relationships.

Here are some tips to help you improve your communication, so that each interaction becomes a meaningful exchange that may lead to a future business relationship.

Be relaxed and in a positive mindset. Someone who is relaxed and positive will draw people in.
Smile and say hello. A great smile and hello is warm and inviting.
How are you doing? Reflect a simple and caring greeting.
Be an active listener. This will help you feed the conversation and keep your mind from wandering.
Keep eye contact. This will help you focus on the person and maintain active listening.
Speak naturally, simply and be yourself. People connect better with someone who comes across very comfortable and easy to understand.
Ask another question (How, When, Where, What, Why).
Continue active listening.
If you find a topic that you’re both interested in continue the theme.
End the conversation. Consider making plans to get together soon, or give them your business card with a quick note on the back (like it was nice catching up), and/or offer to connect on a social media network.
Practicing your communication skills is the best way to get better. Think of a conversation like dancing with a partner. The more you do it the more fluid you become.
Put yourself in more social situations to practice your communication skills.
You can also record yourself and start with a basic communication script to improve quickly.

Why are great communication skills so important? For businesses having great communication skills helps build relationships. For the average person it’s about feeling accepted, bonding with others and creating joyful experiences. Successful businesses use communication to weave both concepts in order to maximize growth and loyalty.

What tips would you give to a business owner looking to improve his/her communication skills?

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How to Promote Your Business Through Word of Mouth

How to Promote Your Business Through Word of Mouth

The best and most effective way to promote your business is through word of mouth. Isn’t it good to know that the best way to promote your business is also the least expensive?

Here are some tips for promoting your business by word of mouth

Join a local event, get your business in the local media and get people talking positively about your business.
Use social networks to connect with your customers, engage in conversations, use it to provide better customer service, and build relationships and buzz.
Make each interaction with your business a memorable one, and you’ll make your business memorable. Follow up with a thank you call or card. Offer a free branded gift and other memorable services.
Offer your customers an opportunity to comment, or take a poll and act upon their suggestions to create buzz.
Ask loyal customers and local influencers to refer your business to others and give them a reward for it.
Treat your customers like VIPs and share their testimonials wherever you can.
Offer customized/personalized customer service to create a buzz.
Ask for reviews from loyal customers and local influencers.
Once in a while, surprise your customers with extras and tell them to share it with others. Give them a discount that they can share with another to help bring new customers.
Start a campaign to help others in your community and create an online forum to encourage conversation and positive word of mouth.
Become the town “know it all.” Post and host on your site interesting facts about your town and residents to encourage conversations.
Offer contests, start trends and other promotions to generate buzz and build brand recognition.

Be creative and have fun with this. Word of mouth news will spread if it’s fun and helpful!

How are you generating word of mouth for your business? Start here! In the comments, share with us what makes your business unique and great!

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Tips for Building Your Local Market

Tips for Building Your Local Market

In a down economy your local market becomes critical to your business success. Your local market is where most of your loyal customers come from, and establishing a strong local market foundation allows your business to grow outwards.

Here are some tips to build your local market:

Join your local chambers of commerce and every community group you can to network.
Reach out to your local newspaper and local media outlet and offer story ideas.
Become your town’s know it all and resource person. (One local business person used this idea to create a spreadsheet that got mailed around with everyone’s teacher assignments in town.)
Create referral and loyalty incentive programs.
Use cause related marketing and sponsor local events and causes for exposure.
Offer to be a speaker or teach a class related to your business. For example, if you sell home decorating products, offer to speak about home decorating.
Partner with other local businesses to promote each other’s businesses.
Create a Facebook page and post current events, coupons, and information about other businesses in your town as a free community service site.
Connect and network with people who live locally on social networks.
Get testimonials from locals and use them to become your “celebrity” spokespeople.
Make sure your business comes up on local search engines and directories.
Make each interaction memorable. Turn your car into a moving billboard, give out magnetic business cards with a free branded pen, distribute T-shirts with your business name and logo, and most importantly become known for incredible customer service that generates praise.

Using these tips will help you create a sustainable business relying on a whole town of loyal customers that will weather any economic storm.

So how are you connecting to your local market?

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How to Keep Your Team Motivated

How to Keep Your Team Motivated

While many businesses these days are focused on sales and cutbacks, smart business owners know that without good people, you’re not going to make your sales goals or run efficiently. Attracting and retaining quality team members takes work, and the most successful businesses spend time focusing on this.

So how do you do it? Here are some ways to keep your team focused and motivated, and bring out their best:

Develop relationships with your team. Find out what they care about and what motivates them by spending time talking to each team member individually.
Let your team know that their input, feedback, and suggestions are important to you, and put a system in place for exchanging ideas.
Schedule formal meetings as well as social interactions like in a book club or bowling team, or just have coffee together.
Connect on social networks and have a team group online to improve communication.
Recognize and praise positive actions and excellences publicly. Have your team develop a excellence chart and display it publicly.
Develop team incentives and rewards. Money is not always a motivator, and that’s why it’s important to learn what motivates each team member. Consider team incentives that everyone achieves as a group, as well as individual incentives.
Promote personal and business development. Organize and implement ongoing training, motivational products, and highlight great team members and improvements.
Be a coach, be proactive, be the first to lend a helping hand, praise, give advice and most of all be supportive.
Lead and model what you preach.

Instead of simply focusing on sales numbers, find out what motivates your team. You’ll find that your sales numbers will go up because you’re surrounded by people who are invested in your business success!