The figures are in during a recent survey and optimism among small business owners is at 52%. This figure is up 21% over 2017’s confidence. The proof in their confidence is they are pouring more capital investment into their businesses. Over 60% have made investing in their small business as their top priority for the coming year.
Millennials are the largest population currently in the workplace. Understanding what they're seeking, keeping them dedicated employees to your small business, and possibly learning a few things from this tech-savvy generation is important to small business owners.
According to entrepreneur.com, during the hiring process with millennials, don't drag out the interviews. They are accustomed to processing information quickly and don't like to drag out their decision-making process. Whenever possible allow them to work in departments and on projects they're passionate about. It will impact the results of your business success and ensure you lasting employees. Be sure to ask them about their career ambitions. Perhaps some are interested in following your lead and starting their own small business.
Most small business owners show their customer appreciation during the holiday season. While that remains a great marketing tool, small business owners need to remember that showing customer appreciation during other times of the year is equally as important to maintaining those relationships that keep customers returning to your small business.
Customer appreciation is a catch 22 for small business owners. While it's necessary, businesses must be cautious about overspending to show their gratitude.
Though over thirty years old, there are not many changes have been made in E-mail technology. Approximately 269 billion emails are sent each day and for small business owners, this can quickly consume their valuable time. Email has been around so long that all ages groups know how to effectively use, which can become a nightmare for small business owners. Recently theguardian.com released new and time-saving approaches to handling your email overload.
Stop email instant gratification – Turn off all new emails alerts and set aside quality time to deal with the inbox. Focus on the task at hand, rather than allowing constant interruptions.
Take control – Move emails out to a folder as you deal with them (from reading to responding). Use your software to filter out all non-essential emails automatically.
Think before hitting send – Is email the best way to communicate? If not, then be bold; use ...
As human beings, we don't all learn the same, process information the same, or base our reasons for purchasing products the same.
People fall into one of three categories; Visual, Auditory, or Kinesthetic. What does this mean for small business owners? Visual people want to see a product and purchase it based on their like of the look. Auditory people want to hear or read about a product to decide on purchasing. Kinesthetic people purchased based on feelings; the purchase feels right to them or they want to physically touch the merchandise.
For small business owners to reach all customers and ensure sales the secret is to key in on all three types of buyers.
For your visual customers, your store’s appearance and photos of items available on your website lure them in. For auditory customers, clear descriptions and video content on your website is their draw. For kinesthetic customers, ...
Engagement, a word often associated with matrimony. But engagement is a year-round
endeavor for small business owners. This engagement should always peak during any holiday
Every aspect of engagement is key for small businesses; social media, local advertising,
encouraging customers to give your business YELP reviews, and radio.
Customer service that is second to none will always ensure repeat customers and word of
Avoid the common complaints of too many customers, not enough employees, and long lines.
It's an uncomfortable topic, succession planning, but one that is highly important. None of us like to think about our lives reaching the end, but as a small business owner it's a must do to keep your business in the right hands and continuing to prosper, especially if you have a family and want to ensure their future as well. It's extremely important that your decision of who will be the successor of your small business is based on logic and not emotion.
If you are choosing a family member as the successor of your small business, having this conversation with all family members and explaining your logic behind it prevents unnecessary conflict upon your retirement or passing.
Be different. While this may sound simple enough, owners of a Mailbox Store and Business Center tend to find themselves following the trend. Standing out is what makes sense. Using a name to fit in means you'll be spending your marketing dollars trying to stand out. Differentiate yourself, as for example Virgin Airlines has and your marketing of your store name only has to be done once.
Make your business name memorable yet never do so in making up words. According to theguardian.com, short and simple isn't the way to go when naming your small business either. Short names are less memorable while longer names give you freedom of expression. The right shorter name, however, can provide punch and allow for larger more impactful signage on your store front than can a longer name.
Theguardian.com also suggests not using your name as a ...
Many major small business news experts are repeating the same message to the younger generation in their online business articles; invest your money in your own small business.
One source, usatoday.com made this their August 17, 2017, main article as others are repeating their advice to young people. After witnessing a generation that came of age after The Great Recession, entered a job market when jobs were scarce, and after years of college left them with more debt than their income could pay; the potential this generation holds to run a successful small business is extremely high.
According to usatoday.com millennials have grown up in a time that makes small business ownership easier for them. They were the first fully-digital generation. Social media is and has been a part of their life. They desire to work to make a difference. Being a ...
What Do the USPS Financial Troubles Mean for Mailbox Franchises and Independent Mailbox Store Owners?
USPS scheduled to close/cut operation hours at 2,000 locations in light of recent defaults in the billions. An industry insider discusses the impact on non-USPS mailing entities, Discount Retail Store Services reports.
In August 2012 USPS defaulted for the first time since 1982, unable to make a required 5.5 billion dollar payment. They defaulted again in September 2012 without paying a required 5.6 billion dollar tab.
Cost Cutting Moves
Meanwhile in order to cut costs USPS has implemented plans to consolidate their network of 461 mail processing centers in phases starting with 140 consolidations through 2013 and an additional 89 through 2014. “We revised our network consolidation timeline to provide a longer planning schedule for our customers, employees and other stakeholders, and to enable a more methodical and measured implementation,” said Patrick R. Donahoe, Postmaster General and Chief Executive Officer of the Postal Service. Also according to Donahoe USPS is ...