All posts tagged home-based business

Three Ways to Close the Deal

Three Ways to Close the Deal

Low angle view of two business executives shaking handsSo you’ve gotten that sales meeting, prepared for each possible scenario, made friendly conversation, and have conveyed your ideas and pitch to the best of your ability. Your job is not finished yet, however, because you still need to close the deal. This, for the majority of people in sales, is the most difficult part of the business. The key to successfully closing a deal is to be proactive about why a person may say no and to eliminate his or her reasons for doing so. Here are three techniques to help you close more sales

  • Understand hesitation and address it by solving the problem. From your point of view, there is no reason to hesitate. You know what a great value you are providing and have no reason to doubt yourself. So put yourself in the other person’s shoes. If you can understand the reason why they may be hesitant, you can deal with it head on, and may be able to overcome the objection altogether by demonstrating how your product or service can solve a problem. For example, a hair stylist and colorist operates her own business doing her clients’ hair in the privacy of their own homes. She is offering new and current customers a package for purchase in which they can have monthly coloring touch-ups, all paid for in advance. While pitching this service, a prospective customer seems hesitant to pay for services that wouldn’t be rendered for months into the future. The stylist validates this concern, and also points out that because customers wait too long in between coloring treatments, the service takes longer and costs more. So by having monthly touch-ups, money would be saved in the long run and hair color would always be properly maintained. She winds up closing the deal because she did not dismiss the client’s concern, but rather confirmed it and then followed up with a solution to the problem.
  • Fine tune your market and focus on a niche. In an effort to cast a wide net and appeal to as many customers as possible, you could be missing out on success within a niche. The hair stylist mentioned above certainly provides services that likely appeal to a broad range of people, but because she makes house calls and provides a monthly touch-up service, she focuses mostly on working mothers over age 35. This population of women have several things in common that make the stylist a valuable asset to their lives: they’ve started coloring their hair to cover up grays, they need to maintain a professional appearance, their work schedule is too demanding to regularly visit the salon,and when they are not working, they need to be home to care for their children, so an in-home appointment is most convenient. Knowing her target market allows the stylist to put the most time, money, and energy into attracting clients in this population for increased success. Think about a niche that might be most interested in what you have to offer, and come up with ways to specifically appeal to the needs of this market.
  • Take the focus off business/sales and make it fun. More and more companies are looking to gamification to attract new clients. Consider simple ways to incorporate more fun into a sales pitch or other type of client meeting. For example, to educate potential clients about your product or service, consider a mini-trivia game in which your prospect guesses the correct answers for a small prize. Use whatever fits the situation and personalities of those involved, such as music, video, gaming, comedy, etc. A sales meeting should not be an unpleasant experience for either party, so by making it fun, you are increasing your chances of closing the deal. However, be sure to balance fun with the professionalism needed for the situation.

Closing the deal requires that you understand the needs of the customer, and then highlight how your products or services meet that need. Remember to always be honest, and let the strengths of what you have to offer and your enthusiasm shine through. When the customer understands how your product or service fits their situation, and trusts that you have their best interests at heart, you are more likely to close the deal.

What tips do you have for closing the deal? Please share them below!

Five Things You Should Do Every Week to Build Momentum

Five Things You Should Do Every Week to Build Momentum

cheerupYour business should be in constant motion, moving forward all the time. If this does not happen, your business becomes static and can eventually fizzle. In order to build momentum consistently, you can do a few simple things that maintain your progress and renew your motivation. Start with this list to continue moving your business forward.

  • Connect and follow up socially. Schedule some time during each week when you review your contacts. Connect with those you haven’t corresponded with lately, and follow up with those you may have been playing phone tag with. When appropriate, arrange a social visit with contacts such as a lunch meeting or play date with your children. Interacting with contacts in a way that isn’t always about business will help you stay in touch and will make it easier to reach out to them professionally when the opportunity arises.
  • Assess and reflect. Don’t let too much time go by in between assessments of your business. Consider taking a look at a different aspect of your business each week. For example, this week will be devoted to assessing the quality of your customer service, while next week’s focus will be your social media presence. Reflect on each element by considering what works and what doesn’t, or what could use improvement.
  • Make adjustments. Using your findings from these weekly assessments, make the necessary adjustments. If you find that your Facebook page has lots of activity, but your blog is getting very few hits because you don’t post often enough, adjust your writing and sharing schedule to fix the problem. There is no need to tackle too much at once; remember that these assessments and adjustments should happen on a weekly or even monthly basis.  If you don’t finish or get too overwhelmed, put it aside and continue the work next week.
  • Network with influencers and mentors, and partner with others. Reach out to the people who have helped make your business possible. Network with them by asking for referrals or initiating a mutually beneficial partnership. One boutique owner was strongly influenced to start up her business by an old college friend who runs a successful weight loss/nutrition center. A good idea would be for the two of them to hold a joint promotional event where current and prospective customers can find services to complement ones they are already using. These opportunities can’t happen without frequent networking.
  • Be sociable. Make it a point to socialize with others whenever the chance occurs. Be friendly, ask questions to learn about others, listen carefully, and show that you truly care. It’s easy to get so caught up in our own work environment that we don’t take the time to venture out socially often enough. Give yourself this time at least once a week.

By working these momentum building activities into your weekly schedule, you are maintaining a successful business and taking steps to move it forward. How do you build momentum for your business? Please share your ideas below!

To get your free copy of the eBook, click here: 15 Days to Greater Success. You can download it from our Facebook Page. And while you’re there, you can download our other free eBooks too: Business Owner’s Road Map to SuccessCreating Your Success Mindset, and Reflections on Success. They’re all designed to give you an edge in your business, and help you focus on the daily practices that lead to your goals.

Please share this link with the business owners you know: http://on.fb.me/VHcVB3

Three Ideas to Maximize Your Marketing

Three Ideas to Maximize Your Marketing

beprepareAs a small business owner, marketing is one of the most important things you do to keep your business growing. Don’t rely on guess work and speculation when putting together a marketing strategy; with thorough preparation, you can spend your marketing dollars wisely and get the best return possible on your investment. Here are three ways to maximize your marketing budget and efforts.

  1. Do research on clients first, and then use targeted ads and personal messaging. You should know exactly who is patronizing your business. Create a detailed profile of your typical client, including economic and social demographics. The more specifics you include, the better able you’ll be to target your efforts toward your intended audience. Once you’ve researched your clientele, create ads targeted to that specific population. Reach out to prospects on social networks with a professional message that peaks their interest in your business. For example, an independent nutritionist and mother of four, “Cheryl,” seeks to attract clients much like herself: busy moms who want to provide healthy and convenient meals for themselves and their families. She finds that most of her clients are working moms who have the extra income to spend on such a service, so she targets her ads to this population. To maximize this strategy, she also reaches out to certain personal contacts on her Facebook page, specifically people who have posted status updates about starting a new diet or workout regimen. By researching her clientele, Cheryl can focus her time and money in places where they will not be wasted.
  2. Promote the value of what you are selling. The best way to promote value is to emphasize the versatility of a product or service and how it is the solution to a problem.  Cheryl the nutritionist knows that her services can be costly, but in her marketing, she stresses the value of modeling a healthy lifestyle and instilling lifelong healthy eating habits in our children. She offers a sample grocery list to show potential clients how they can actually save money at the grocery store by buying fresh produce to make multiple meals that are easy to cook and will last the week. Her goal is for clients to see the value of a good education about what we put in our bodies. When it comes to our children, it’s a safe bet that most people will do whatever they can to establish good nutrition.
  3. Be social, fun, and unexpected. Don’t make the mistake of relying on electronic and print ads to connect with your potential customers. Socialize in person and tap into your fun, spontaneous side. Cheryl threw a party to welcome a new neighbor to her street, and provided snacks and a meal from her personalized menu. Anytime someone complimented her on the food, she had an open introduction to point out how easy it was to prepare and how nutritious it was. Find ways to incorporate some personal flair into your business.

The goal for any marketing campaign is to spend your money wisely so as to increase revenue as much as possible. Research your clientele, focus on value, and have fun with it.

What other ideas would you add to our list? Please share them in the comments section below!

How to Make Your Business More Fun

How to Make Your Business More Fun

How to Make Your Business More Fun from http://dsef.orgLet’s face it…we’re more likely to spend time on things we enjoy. And when you’re your own boss, a fun business is one that’s going to be something you look forward to working at daily.

Do you consider your business fun? Could you add some fun to your business? We turned to our very smart Facebook community of business owners (have you Liked us yet?) and asked them what advice they would give to someone that wanted to add more fun. Here’s what they shared:

  • Aim for excellence, not perfection. Often we stress ourselves out about our business because we’re so focused on trying to make everything perfect. But as Patricia Collette in Ontario advises, “Just relax and you don’t have to remember every detail about the business. Nobody will know if you forgot to tell them something or not .” And as Cimberly Melbye says, “Never take yourself too seriously.” Good advice.
  • Run fun campaigns that make people smile. Lisa Balthaser of Pennsylvania and Michelle Lersch of Florida both run contests that their customers love! And Lisa Hall-Wieser of Pennsylvania suggests, “Have theme parties like girls night in or a pajama party!” What fun!
  • Make sure you love what you have to offer. Tavia Stiegler of Maryland says, “You must be in a business that you personally LOVE the products or services. Otherwise it’ll be hard to be excited about what you’re doing.” If you don’t love what you offer and what it does for people, maybe it’s time to make a change.
  • Integrate your business into other activities you love. Dawn DeSario of Massachusetts advises, “When you love what you do, you will automatically have FUN!! Add more enjoyable activities into your work day..have more “coffee dates,” “lunch dates,” do some fun trainings, shop for some new fashionable business clothes while on the lookout for potential business. Shop for fashion jewelry, or have a “spa-day.” We need to look professional so have fun with it!! There is SO much to do to increase the FUN-Factor!!! Have Fun with that!!

We love these ideas, and they’re sure to make a business more fun! What would you add? How do you add fun to your business? We’d love to read your thoughts in the comments below!

Seven Ways to Energize Your Business

Seven Ways to Energize Your Business

atargetWhen you have been doing something for a long time, it’s easy to become stuck in a rut. Routine is comforting, but it also has its downside. Sticking with the same routine for too long can cause you to become complacent and stop you from seeking continual improvement. In times like these, it is important to energize your business. Review the list below to find ways to refocus your efforts and keep your business on the path to success.

  • Establish priorities. There are likely many projects you’d like to tackle or new policies/products/protocols you’d like to implement. Getting started can be an overwhelming endeavor because it can be difficult to know where to begin. Establish your priorities by making a comprehensive list of everything you would ideally like to accomplish. Once the list is complete, choose one or two things that you can get started on right away. Choose wisely; what can be of most benefit to your business immediately? Prioritizing a list like this takes the stress off and allows you to focus on one thing at a time with the comfort of knowing where you will go from here.
  • Be as efficient as possible. For example, if you are in the midst of a project and have to stop to email a colleague for more information in order to continue, don’t waste the time you have waiting for the response. It’s tempting to take those few minutes to browse your Twitter feed or whittle the time away on Pinterest. Instead of giving into distractions, keep a running list of other tasks that you can work on. Is there a prospect that you could follow up with? A filing cabinet that could use some organizing? Although it is important to work in some down time, it is just as imperative that you maximize your time by working efficiently.
  • Combine your work with different areas of your life. This isn’t always possible, but when it is, build your life around your work. If there is a weekend-long industry convention you’d like to attend, consider making it a long weekend and taking your family with you. This way, you can attend the workshops and get in some networking. Once your work is finished, you have a day or two to enjoy the area with your family. When you can do this, you are less likely to feel pulled away from your home life by work and vice versa.
  • Actively manage your time and stop wasting it. For some, this comes easily. For others, it’s a constant struggle. If necessary, make a daily or weekly agenda for yourself. Expect to not be able to stick to every scheduled minute, but with a basic outline of how you want to spend your time, you’ll be better able to stay on track.
  • Commit to learning new things. Professional development is an investment of both money and time into your business. Without continuing your learning, you are missing out on what could be valuable tools to run your business successfully. It doesn’t always have to be a formal workshop or convention either; commit to listening to an industry expert’s audio book once a month or reading some small business blogs once or twice a week. Always be on the lookout for new learning opportunities. These will keep your ideas fresh and your business moving forward.
  • Don’t sweat the small stuff. There are going to be many bumps in the road, but learn how to cope with minor inconveniences in a different way from how you cope with major setbacks. The more you let the small things roll off your back, the easier it will be for you to handle major decisions and more important stressors.
  • Laugh more. Hopefully, you enjoy what you do. Take the time to be grateful for what you have built, enjoy the people you do business with, and laugh when something is funny! Finding the humor in everyday life makes for a happier person.

How have you gotten yourself out of a rut and energized your business? Please share your ideas below!

Three Networking Mistakes

Three Networking Mistakes

Woman Talking During Job InterviewSuccessful networking is a necessary part of growing your business and taking it to the next level.  Doing so requires a certain amount of social grace, including the ability to engage people in conversation and making them feel comfortable. 

Avoid these three common mistakes when networking and stand out among the crowd in a positive way.

  • Focus on building relationships. This will allow for long-term planning. Even if this contact can’t help you in your endeavor right now, the opportunity may arise in the future for this person to offer something of value to your business. Give something of yourself when establishing professional relationships. For example, a dance studio owner/dance teacher looking to expand her clientele by offering classes for children under 5 years old holds an open house for prospective students and their parents. When speaking with some of the parents individually, she asks each one why they would like to start the child in a dance class and offers a free demo class as well as a discounted private lesson for those interested in joining her studio. The parents recognize that the teacher is giving her time and expertise so they may have a risk-free trial before committing to a year of classes. This also allows the teacher to get to know her future students and show the parents that she truly cares about their early dance education.
  • Don’t play the role of counselor; keep the conversation social and friendly. An initial introduction is not the time to offer unsolicited advice on the topic at hand. Make sure the conversation centers around common interests. The dance teacher shares her own stories about how she got started at a young age, which helps prospects relate to her on a more personal level. This is more effective than preaching her philosophy on why children should start their dance classes as soon as possible. A light-hearted conversational tone is best in networking situations.
  • Digging too deeply into people’s lives makes them uncomfortable. Although you do want to build a relationship and find out a bit more about the person, be careful not to pry into their personal lives. One mother of twins attending a demo gymnastics class with her children finds herself being asked by total strangers if she used fertility treatments to conceive. A seemingly innocent question made in social conversation is actually quite personal. Don’t make the same mistake. Let the other person guide you in how much they are willing to share, but err on the side of caution when asking personal questions.

Just like many other aspects of your business, networking takes practice. The more you do it, the better you become. You can’t avoid making some mistakes; that is to be expected. However, by steering clear of certain downfalls, you can more quickly get on the road to networking success.

What advice would you give for successful networking? Please share your comments below!

DSEF & BBB: Tips for Securing Your Mobile Device

DSEF & BBB: Tips for Securing Your Mobile Device

blue_with_website-225x30022By Amy Fowler

Better Business Bureau is urging consumers to take steps to secure their mobile devices in order to protect themselves from identity theft and malware.

According to a survey released by The Pew Research Center in January, almost half of all American adults now own smartphones. The same survey found that 17 percent of all consumers use their mobile device as their primary means of accessing the internet.

Smartphones can be a treasure trove for hackers. Through apps and mobile browsers, people store personal information like passwords, bank account information and credit card numbers in addition to their contacts and other information.

However, a survey conducted in part by the National Cyber Security Alliance, found that more than one quarter of cell phone users are not aware of common security threats to smartphones and more than half do not know enough about mobile phone security to decide whether or not they need it.

BBB urges consumers to remember that a smart phone is no different than a desktop or laptop computer, in that it is vulnerable to the same hackers, malware, spyware and viruses.

Here are a few practical tips from BBB to secure your mobile devices:

  • Lock your phone. If your phone is lost or stolen, your personal information is at risk. Add a security code to your phone to prevent thieves from accessing your data. Then set your device to lock automatically when not in use for  a specified time.
  • Update your operating system. Those alerts on your smart phone that tell you to update your apps and operating system are more than just a minor annoyance. These updates close security loopholes and other backdoors hackers can use to access your phone without your knowledge.
  • Beware of unknown apps and links. Do not download any apps or click on links in your email or social media pages without first researching their source. They may contain viruses, malware or spyware that can compromise your personal data.
  • Avoid unsecured Wi-Fi. If you choose to connect to an unsecured or public Wi-Fi network, do not enter any passwords or access any personal data. Bad guys can use such networks as an easy means to hack your device.
  • Turn off Bluetooth. Bluetooth creates a wireless connection between your phone and other devices or phones. If you are not actively using an enabled device, such as a headset, make sure your Bluetooth is turned off.
  • Check your permissions. Check all of your apps to see what data they are accessing and revoke permissions for information those apps don’t need to properly operate. Check your phone’s owner’s manual or contact your wireless provider for directions on how to do so.
  • Report missing devices. If your phone is lost or stolen, immediately report it to your wireless carrier and have the device disabled.
  • Back up your data. Make sure you have a backup of all the apps and information — especially important photos or other irreplaceable items — stored on your phone in case it’s lost, stolen, hacked or damaged.
  • Pay close attention to your phone bills. Unanticipated, sudden increases in data usage can indicate a problem. In addition, third-party content providers sometimes add erroneous charges to bills for apps or services the consumer never authorized. In addition, keep an eye out for strange texts and disrupted service. They can be red flags that indicate your phone has been hacked.
  • Erase old phones completely. If you’re selling, donating or recycling your old phone, ensure all your data is completely erased and the phone is returned to factory settings before letting it out of your possession. There are online tutorials to teach you how to do this, or your wireless provider can walk you through the steps.
  • Shop with caution. When shopping online with your mobile device, take the same precautions you would with a desktop or laptop. Look for the “s” in the “https://” in the address bar and research sites at bbb.org before providing any personal information or credit card numbers.
  • Consider mobile security. Many sources offer antivirus or other security apps for your phone. Research them thoroughly before choosing which is right for you.

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.

Tips for Starting a Successful Business

Tips for Starting a Successful Business

Tips for Starting a Successful Business from http://dsef.orgStarting (or re-starting) a business can be challenging. It takes time and persistence to build the momentum that leads to success. Since our Facebook community is full of inspiring business owners, we reached out and asked them to share their best piece of advice for someone starting a business. Here is some of the advice they shared:

  • Just Start: April Gust-Yohanek of Wisconsin says, “Just get started, nothing needs to be perfect, you can perfect it along the way!” This is great advice. Often a new business owner gets so bogged down in the details of starting a new business that the business never gets off the ground. Remember to stay focused on the goal and take steps every day to improve. But start! It’s the most important step you can take.
  • Be Persistent: Jen LaCour of Texas offers sage advice when she says, “The beginning is always the hardest! Be persistent, consistent, and step out of your comfort zone every single day – you’ll grow so much faster!” Some days will be harder than others…it’s all part of growing a business. And sometimes you’ll need to adapt. As Tony Madalone of Ohio suggests, “Implement then adapt. and be persistent.” When you work through the challenges and keep at it, you’ll be much more likely to succeed.
  • Be Passionate: Many of our commenters emphasized the importance of passion when it comes to building a business. Isaac Chubb talks about being “passionate about your why.” Know why it is you want your business to succeed. You should also be passionate about your products. As Dawn Kopac of Wisconsin says, “Be passionate about what you are selling or presenting to people,” and Rose Hernandez of California advises, “love and believe in what you are doing.” Finally, Jacquie McConnell of Texas sums it up well: “Find that…business that captures your passion and it will never be work!”
  • Love Your Products: The importance of loving the products you sell can’t be overemphasized when you’re considering starting a business. As Lynn Brooks of Virginia says, “use, like and believe in your product!” And Melissa Pellerin of Edmonton, Alberta suggests a researched-based approach: “Do your research and know the product your going to be promoting. Choose something you can be passionate about.” Ah, there’s that passion again! Loving your product leads to passion about your business.
  • Learn Constantly: Finally, it’s important to make professional development a priority. Constant learning leads to continual growth. As Carol Petersen Saso of Colorado recommends: “Be a sponge – absorbing all the training available from your company. Be willing to put in the time required to build a business and remember it’s always too soon to quit!” Great advice indeed!

Many thanks to our Facebook community for sharing their great advice! (If you haven’t liked our Page yet, please do!) What tips would you add for a new business owner? We’d love to read your advice in the comments below.

Getting Your Best Customers to Promote Your Business

Getting Your Best Customers to Promote Your Business

Getting Your Best Customers to Promote Your BusinessPromoting your business is a continuous job that often requires a great deal of creative energy, time, and money. However, it is important to keep in mind that you have a wonderful resource in your clientele; your clients can not only promote your business for free, but their stories are often more meaningful and effective than any marketing strategy or sales incentive. The following is a list of ways to get your best customers to promote your business.

  • Create excellent products/services your customers need. Without this basic tenet of sound business practice, any of your efforts to promote your business via customers will be meaningless. You should strive for the utmost quality in your products and services, as well as in your customers’ experience patronizing your business. This will lay the foundation for satisfied clients who want to spread the word about your business to anyone who will listen. Would you recommend to a friend a restaurant whose food and service was not up to par? Of course not! But if you had eaten one of the most delicious meals imaginable and your server was attentive, you’d be telling everyone you know to eat there as soon as possible.
  • Give clients what they want so they get excited about sharing their experiences with others. Once you’ve made sure you have quality products and excellent customer service, the next step is to find out what clients want that you may be lacking. When you can deliver on a customer demand, your chances of customer promotion are even greater. For example, listen carefully and take to heart when a customer asks you a question such as, “Do you carry a cleaning kit made specifically for this camera?” or “Where can I buy the conditioner you used on my hair? I love the way it smells!” When customers can get all their needs met while having a great experience, they will want to share that with others.
  • Seek out a loyal customer with a good story to tell who is eager to share it with his or her network of friends. As happy as many customers may be with your products and how you conduct your business, most of the time, they won’t exactly volunteer to become informal spokespeople. Take the initiative to find a customer you know has a good story to share about his or her experience with your business. Ask the person to share the story with friends and family. If you’ve picked the right person, he or she will be happy to do so.
  • Look for genuine stories that customers want to share; do not pay for testimonials. Paid testimonials are less meaningful to potential clients than authentic ones. Think about how many times you’ve read customer reviews on sites like Amazon or Yelp that have influenced your decision to buy a certain product or use a certain company. If you knew some of these reviews were paid for instead of written genuinely and voluntarily, it would most likely change your decision. Besides, if you are doing all the right things to satisfy your clients’ needs, you won’t need to pay for customer promotion anyway.

Don’t let your customer base remain an untapped resource. Authentic stories from satisfied and eager customers are more valuable than any paid advertisement. Strive for excellence so your customers will want to share these stories.

How do you get your customers to promote your business? Please share your comments below!

Three Ideas to Keep Your Business Growing

Three Ideas to Keep Your Business Growing

Three Ideas to Keep Your Business Growing

When planning for the long term success of your business, your focus should be on moving forward with such things as industry trends and customer demands. You’ll want to make sure you’re planning to grow your business in a realistic way. Without a focus on improvement, your business becomes stagnant and will not grow. The following ideas are simple adjustments you can make for yourself to keep your business growing.

  1. Reward yourself for positive results, not for effort. You may feel as if all the hours and creative energy you put into running your business deserves its own Nobel Prize. While it’s definitely commendable that you devote yourself so fiercely to the business, hold off on rewarding yourself until you actually see positive results. For example, you’ve spent countless hours researching how to design the most efficient online ordering system and even more hours implementing it. Now you’re ready to take that long-awaited holiday weekend trip. But instead of laying out lots of cash, the smarter approach would be to reward yourself with a latte, and then await the results that come from this new system. By doing so, you ensure your physical presence if there are unforeseen problems and you maintain your focus on quality and efficiency. Once you’ve gotten positive feedback and that increase in orders you were hoping for, then you can pack the car and head out of town.
  2. Be flexible; that’s why you have your own business. Being your own boss has allowed you to create your own work schedule and everyday operating protocol, hand-pick your team, and run this business in a way that works for you. Keep this in mind when things don’t go as planned. Your flexibility is crucial to staff morale, customer satisfaction, and the overall success of your business. One recently retired photo lab owner spent most of his career and gathered much of his success by running the lab efficiently and being knowledgeable about each photo processing machine. However, when the industry went digital and photo processing started to become a thing of the past, it was time for him to modify his whole business model to compete with big business processing chains and the at-home photo printing and scrapbooking revolution. By adjusting to these new ideas and thinking creatively, he was able to spend the final years of his career in the business that he loved, instead of shutting down like so many of his counterparts had to do.
  3. Pay yourself fairly, but not too much. You may have a pre-conceived notion about how much you want to make each month or year, but make sure this is a fair amount based on the financial state of your business. There will be times when your profits fall short of those expectations, so it may be necessary to take a pay cut. On the other hand, when business is booming, don’t be tempted to pay yourself too much. Plan for a rainy day by putting some money back into the business and/or by rewarding deserving staff with appropriate bonuses. It’s important to frequently assess your salary and adjust it accordingly.

You can keep your business growing and achieve your goals in low-cost or no-cost ways by being disciplined, flexible, and fair. Always strive for these qualities in yourself and your colleagues.

How do you keep your business growing? Please share your ideas below!