StrategyDriven Professional Development Article |Business Skills|4 Business Skills to Improve in 2019

4 Business Skills to Improve in 2019

StrategyDriven Professional Development Article |Business Skills|4 Business Skills to Improve in 2019Most entrepreneurs and business professionals understand that to truly thrive within business, they must have valuable business skills. It’s important to know the importance of investing in yourself when it comes to growing your business. When it’s your own business, you’re the only one who can fully get behind it, bringing in new skills and strengths over time.

Each year, new innovations and trends in business arise. This means that you must be constantly on the ball, sharpening your skills to keep ahead.

Whether it’s learning how to improve your conversion rate on a certain social media platform, or improving your public speaking skills, everyone has their own areas they wish to improve.

Here are 4 key business skills worth mastering in 2019, which will confidently take you and your business into 2020.

1. Technology

It seems that there is no faster moving industry than that of technology. One minute we think we have the most up-to-date smartphone, only to find it quickly replaced by the next big thing.

The same applies for the technology required for businesses. Retail businesses must understand that their point-of-sale (POS) systems will constantly need to be compatible with mobile payment systems, like Apple Pay and Google Pay.

As the world goes mobile heavy, it’s beneficial to have your business accessed via apps. Perhaps to reach wider audiences, you could benefit from understanding how to make short video clips or even podcasts for your business.

All these require a thorough understanding of new and existing technology you may not be familiar with. Assess which aspects of technology could benefit your business and learn how to use them.

2. Social Media

Understanding the evolving social media platforms and how to use them is vital to any business. Whether you run a product-led retail business or service, social media can be used to reach new audiences and potentially increase sake.

Social media evolves rapidly, therefore, any entrepreneur needs to stay on top of the most popular platforms, without falling behind. In 2019, Instagram is constantly updating itself and has become the most widely used social media platform, so sharpening your skills across this platform is vital.

It’s worth studying the effect on social media platforms for both marketing and sales, sharpening your knowledge on how to effectively use them. It may be that only certain platforms would work with your business, but either way, it’s worth finding out.

3. Relationship Building

Communication is the key skill when it comes to relationship building. Without being able to communicate and build mutually beneficial relationships within business, you could be preventing new opportunities arising.

Some of the relationships you build will be more client or supplier based, in which you’ll not only need strong communication skills but that or negotiating and persuasion. These are key for working to anything numbers and financial based, so it could be worth improving your skills within negotiation and sales. You can look at seminars by companies such as Karrass, which teach you tactics and strategies.

4. Failure Management

With all new businesses, you’ll be expected to have highs and lows. No matter how hard you have worked on a plan, an unexpected outcome can happen. Everyone deals with failure differently, but it tends to be those who don’t deal well with mishaps and approach business failure negatively that fail to grow their business.

When you fully understand how failure can come and go, and how to handle it, you can budget for unexpected expenses and mentally prepare. It all comes down with understanding how to respond to a crisis. There are many courses and classes that focus on failure management to help to train you with this.

The above are a hand-picked selection of many business trends which will help you thrive as an entrepreneur in 2019. It’s worth assessing a combination of soft skills and hard skills spreading across technology, processes and personality skills. Both are equally as important, so do analyze your current strengths and weaknesses, and take action accordingly.

StrategyDriven Innovation Article |Innovation|Your Business Needs To Embrace Innovation!

Your Business Needs To Embrace Innovation!

StrategyDriven Innovation Article |Innovation|Your Business Needs To Embrace Innovation!If there’s one thing that sums up the realities of the modern world more than just about anything else, it’s the sheer pace of it. The modern world moves at such a speed that it can actually be somewhat overwhelming a lot of the time. There are few places where this is felt more keenly than it the business world. Keeping up with the world around your business has always been a challenge but it keeps getting harder as the world moves faster and faster every day. This means that there is one thing that your business needs to be willing to embrace in order to succeed: innovation. If you’re not willing to innovate, your business is just going to end up getting left in the dust by your competition. With that in mind, here are just a few areas of your business that could use a little innovation.

Technology

The most obvious place for innovation is most certainly the realm of technology. Technology has been the driving force behind a great deal of innovation both within the business world and in the rest of the world in general. Because of that, you need to be sure that your business is willing to embrace new technologies. Just look at the various businesses that refused to accept the rise of the internet. From cloud storage to specific things like Fusion Narrate speech recognition software, there are so many ways that technology can both make your business more efficient and connect with the world more effectively. Sure, you need to use a degree of discretion about which technology you use in your business, but keeping an eye on the horizon is always a good idea.

Employees

For the longest time, it’s been assumed that the way that employers have treated their employees has been working just fine. However, the truth is that more and more businesses are finding the benefits in innovating the ways that they treat their employees. Thinks like offering more flexible work hours and the potential for things like remote working can make a huge difference not only to the morale of your employees but their overall productivity as well.

Marketing

Marketing is one of those things that is inherently tied to the current moment and generation. If you want to be able to market your business effectively then you’ve got to be able to keep up with the changing times. People in the modern era simply don’t connect with traditional marketing. Instead, they want to content. You need to be able to connect with them on an emotional level.

Of course, one of the most important things that you have to remember is that it’s not enough just to innovate within your business once. If you introduce some innovations into your business and then assume that you can just rest on your laurels then you’re just going to end up in a position where the world keeps moving forward and you’re stuck in one place. You need to be willing to keep pushing your business forward in as many ways as possible if you want to keep up with the rest of the world.

StrategyDriven Managing Your Finances Article |Credit Card Payments|Setting Up Your Small Business for Accepting Credit Card Payments

Setting Up Your Small Business for Accepting Credit Card Payments

StrategyDriven Managing Your Finances Article |Credit Card Payments|Setting Up Your Small Business for Accepting Credit Card PaymentsIf you own a small business, then you should be aware of how important it is to offer your customers the option to pay via credit card. Without this option, you may find yourself actually losing money. This is because, many times, people will walk into a business already expecting there to be a credit card payment option.

If your business doesn’t offer this, then the customer might not have any other choice than to cancel the sale. With today’s technology, not many people still carry cash on them, or at least not a large amount of it. Paying with a card is quick and convenient.
So, how can your small business start accepting credit card payments? Read on to learn more.

Choose a Payment Service Provider

With merchant accounts becoming a thing of the past thanks to their contracts, many hidden fees, and their inability to provide multiple services, payment service providers are on the rise. Payment service providers are an all-in-one payment and processing system. These providers allow for small businesses to accept both credit and debit card payments without the need to open a merchant account.

Any associated fees using a payment service provider are more clear than when opting for a merchant account. And your merchant account is part of the payment service provider system. With a payment service provider like Dynamics GP Credit Card Processing, you can track inventory, manage accounts, deposit funds, and much more!

Choose a Payment Gateway

The payment gateway secures and encrypts customer information when they make a purchase through your website. It then sends the information for approval. It’s then either approved or denied instantly.

If approved, the payment is complete and the funds are deposited into your account. Many payment service providers include a gateway with their system, but others require you to purchase one separately.

Purchase the Needed Equipment

You’ll also need to be sure that you purchase all of the necessary equipment for accepting credit card payments. This differs depending on where you’d like these payments to be made.

Online

For online purchases, you’ll need a merchant account with a payment gateway, or you’ll need a payment service provider that includes both of these. You can also buy a virtual terminal, which is software that’ll turn your computer into a credit card terminal perfect for accepting purchases over the phone.

In the Store

For purchases made in the store, you’ll need a merchant account and a traditional credit card terminal or a point of sale system. Either option allows the customer to swipe, tap, or place their card into the terminal for payment.

Smartphone or Tablet

Mobile card readers attach to your smartphone or tablet and allow purchases made from swipe cards or chip cards. This is a great idea for food trucks, massage therapist, and other on-the-go businesses. Most point of sale providers offer this service.

Accepting Credit Card Payments Is Good for Business

Accepting credit card payments is the best way to ensure that your customers can make a purchase whenever and wherever they may be. Without credit card acceptance, you may find yourself losing business. For more information on the business world, be sure to check out our Insights section today!

StrategyDriven Talent Management Article |Team Management|The Qualities Of A Good Team

The Qualities Of A Good Team

StrategyDriven Talent Management Article |Team Management|The Qualities Of A Good TeamAny business is going to be made up of teams, and the quality of those teams is going to determine to a large degree the success of the business. If you are hoping for the many myriad teams in your business to operate and function as you would hope them to, then there are many things you can focus on to be sure that they are as good as you would hope. One way to begin is to start thinking about what kinds of positive qualities you are likely to want or need in a good team. As long as you are aware of these, you can try to instill them a little more, and you should find that your teams are much more likely to do well and so improve your business performance in no time too. Let’s take a look.

Skilled Individuals

Any team is only as good as the people within it. That is a simple enough thing to realize, but it is something nonetheless which you are going to have to think about if you are to make sure that your teams are going to be as strong as you would hope. The matter of finding the best individuals you can for a team is complex and varied. First of all there is the initial recruitment process, whereby you need to make sure that you are filtering out those who are less than ideal for your team. Professional help from the likes of DSC Personnel could be the way to go here, as could having a clear image of what kind of individuals you are hoping to hire. Then it’s just a matter of ensuring that everyone is in the right team within the business, so that their skills are going to be put to the best possible use.

Shared Values

The more that these individuals have values in common, the easier they will find it to work towards a common goal. For that reason, you need to try and put people together who seem to want the same kind of result or output, as that is going to be a much more successful team on the whole. If you can encourage them to share their values and to discover their similarities here, you will find that it makes a huge difference to how well they work together, and the kind of results they produce as a team.

Delegation

Finally, any good team needs to know who is going to do what and why. As long as there is someone in charge who can divy out the tasks and delegate where necessary, you will find that the teams are going to work out much more successfully on the whole as a result of that. Delegation is an indication that the team is working well, and that everyone is in the right place, which is absolutely something you are going to want to aim towards if you want teams that work well.

StrategyDriven Entrepreneurship Article |Grow Your Business|How To Grow Your Business In A Competitive Industry

How To Grow Your Business In A Competitive Industry

StrategyDriven Entrepreneurship Article |Grow Your Business|How To Grow Your Business In A Competitive IndustryThe business world is one which is highly competitive, which means that a company must always be looking for ways to grown order to stay ahead of the competition. Even if you are the most successful brand in your industry, you can be sure that the competition will be looking for innovative ways to grow and knock you off of your perch. This can be stressful as it means that the work never stops yet it is also exciting and a great way to refine your business, earn more money and dominate the industry. Here are a few different ways that even a big company can grow.

Expand

One of the most obvious ways to grow a business is to expand into new areas. This can be particularly effective if you are scaling into areas with less competition as it can be much easier to dominate the local market. This could involve expanding overseas, which is an exciting process but one with many hurdles to overcome.

Diversify Product Range

It is also worth considering your product range and seeing if there are any gaps in the market that you can fill. Your target customer will come to your business because you can provide a product that they want/need so think about what their other wants and needs are to see if you could be providing other products too.

Attract & Retain Top Talent

It is impossible to grow a company without the right people powering the operation. You need to make sure that you are attracting the top talent with competitive wages, bonuses, and a pleasant working environment and retain these top performers with job satisfaction and career development opportunities. When you can attract and retain the top talent, it allows you to delegate and focus your efforts on the big picture.

Create & Share Content

In today’s internet-drive age, it is important that you are creating and sharing content online. This is a way of promoting your brand, showing your expertise, and providing value to your target customer. There are many different types of content to consider, including:

  • Videos
  • Infographics
  • How to guides
  • Interviews
  • Product demonstration videos
  • Case studies

It is important to share this content on social media and to use this platform to directly engage and communicate with your target customer.

Promote Customer Loyalty

It is easier and cheaper to retain customers than to acquire new ones so this needs to be a key area of focus for businesses. In addition to providing a high-quality product/service at good value for money and with excellent customer service, you can keep hold of your customer with the use of a customer loyalty program.

Attracting New Customers

Although easier and cheaper to retain customers, you will also need to attract new ones if your company is to grow significantly. Fortunately, there are many different ways that you can attract new customers to your business with the most effective strategies being promotions and deals that can entice them away from their current provider. Additionally, if you are able to get recommendations from existing customers then this can be highly effective. This is possible through customer referral programs and by seeking customer reviews, which can then be used on social media and on your company website.

Improve Customer Experience

Ultimately, in order to grow you need to provide a good experience for the customer yet this is an area that is often overlooked by businesses. How you improve the customer experience will depend on your operation but it could involve making changes to the buying process, reducing shipping fees, going the extra mile and being friendlier to customers.

Ramp Up Marketing

One of the most effective strategies for growing a business is to increase your marketing efforts as there is always more that could be done.

Digital marketing is important for increasing your visibility online and is particularly important if you are operating in a highly competitive industry. You should always use reputable digital marketing agencies for the best results.

Traditional marketing remains important, especially if you are targeting customers in the local area. This could include TV/radio adverts, print adverts, attending trade events, sponsorship etc.

Form A Strategic Alliance

A strategic alliance is a smart business move which can help a company to access an entirely new market, increase brand awareness and grow while forming important business relationships. The key to a successful strategic alliance is finding the right business – this should be a company that has the same target customer but is not a direct competitor. A florist, for example, could form a strategic alliance with an event planner or wedding dress shop where they can recommend each other to their customers and offer discounts.

Improve Project Management

Successful project management can drive growth and help a business to achieve their goals, yet it is an area that many companies struggle with especially larger ones where the risks can be higher. There are a few effective strategies for improving project management, including using medicated project managers to oversee the operation and utilizing the latest and best technology. Places like Catalyst for Business highlight the value of technology like ringless voicemail where you can deliver pre-recorded messages into a voicemail inbox which can help you to market your customers more effectively.

Stay Current

There are constantly new trends, technology and other innovations coming to light in the world of business and taking advantage of these early can be critical for growth. It can be challenging to stay current but it is possible by reading respected publications, reading blogs, joining online communities etc.

Growth is crucial in the ever-changing business world as companies are constantly in competition with one another to come out on top. Growth can help your company to earn more money, dominate the industry and find greater success and the above are a few effective strategies to use to help your company to take the next level. There will always be risks attached but it can be incredibly rewarding when changes to the operation deliver powerful results.