Lack of preparedness can drive customers away, be mobile ready!

As much as some are still in denial of the web being the expeditor of business transactions, sometimes one has to suck it up and get with the times.

Personally I do all my banking from my phone, order pizza, pre order my groceries for pick up, christmas and birthday shop on-line and so much more. What I do find interesting is there’s businesses that I do like which I would love to be able to buy from on-line, however, as they’re not mobile ready i look elsewhere and usually pay a bit more. I find as time is easily lost in our day to day life, paying a bit more saves me a lot in the long run.

Furthermore, unfortunately I have to say it, if you have a dated website or a poorly set up site, I like many others will abandon your business and find another which will accommodate our expectations.

The following article from www.mashable.com gives some interesting statistics commissioned by Google which will prove how you can be missing the boat. READ ARTICLE >>>

P.S. Get smart with your on-line presence, get mobile! (there’s many softwares out there that come mobile ready and are easily customizable to suit your needs. You will have to be prepared to spend reasonable money to get something that works really well and be ready to treat it as it’s own identity, not an extension)

Over the years as we develop our entrepreneurial spirt we’re always being told what we should do, but what about what we shouldn’t do, to be happy!?

Do you remember the excitement you had, the anxiety you possessed, the reservation you had to pull the trigger on your idea or making that big step. Reality is, that’s pretty natural. We’re breaking the mold, venturing off on our own while our friends stay steady in their long time rolls (happy and miserable alike) , we’re going to have to work hard and sometimes really late, taking on many hats to get the job done and so much more. However, at the beginning of your day, what about your happiness? What are you NOT doing in order to be happy?

The following article is something I picked up from INC.com which gives us some simple thoughts on how to be happy.

They are so basic, but the question is, are you ready to relinquish what you’ve been told and learnt?

“Sometimes the route to happiness depends more on what you don’t do. “READ MORE>>>

WHEN
Saturday September 29th & Sunday September 30th
11 am to 5 pm

WHERE
Queen Elizabeth Building. Toronto.

EVENT DESCRIPTION
BUSINESS, FRANCHISE & INVESTMENT EXPO & CONFERENCE

Get Inspired to make more money!

Hear the success stories from Alex Rechichi, President & Co-Founder of Extreme Brandz (Extreme Pita & Mucho Burrito), and Nick Veloce, President & CEO of Teriyaki Experience.

Before you buy or invest in any opportunity attend
over 35 free educational seminars in the categories of:

- Expert Advice & Investing
- Sales & Marketing
- Real Estate Investing
- Business Opportunities
- Advice from Industry Professionals
Learn how to:
- Increase your company’s sales
– Optimize your website
– Invest in real estate
– Select the business that is right for you
– Get legal tips before buying a franchise

Meet with exhibitors offering business and franchise opportunities at all investment levels at the Business, Franchise & Investment Expo & Conference on Sat, Sept 29 and Sun, Sept 30 from 11 am to 5 pm at Queen Elizabeth Building, Exhibition Place, 200 Princes’ Blvd, Toronto. The first 50 people each day will receive a 2-night hotel voucher.

Admission is FREE when you register online at http://tiny.cc/7oe9kw
or $20 at the door.

The Power Of The List:

By: Puneet Dutt

No one said running a small business was a piece of cake.  Starting your own business or franchise took you dedication and hard work, no matter what type of service or product you sell. But now that you have achieved your dream, and are running your own business, what’s next?

The favourable outcomes of your business will come through consistent marketing.  Despite a small budget, you can achieve success.

Below are dedicated steps to help you achieve results.  You must commit to these tips with a vision for the future.

These five tips are from the marketing team at The Business Exchange Magazine, a leader in lead generation for franchises and small business.

Network and stick to it.

Create an event calendar every few months outlining the events you and your staff must attend, and those that are optional.  Face-to-face networking is still the most powerful form of getting leads, and is often underrated.  Make it a priority to encourage key team members to attend events as often as possible, on a regular schedule to discuss the services, results, programs, and promotions your company offers to leads. Tip: LeTip is a worldwide organization with members dedicated to providing leads to one another.  Consider sitting in on a meeting at your local chapter to get a get an idea of the services provided.  Every business card you get, ask them if you can add them to your list.

Ask for Referrals.

Customer service and referrals are crucially important to business growth, especially in the beginning when brand awareness may be weak. Listen to customers when they have suggestions and provide incentives for repeat customers to show appreciation toward the most valued customers.  Then ask if they will refer you, and communicate via e-mail to your potential leads which is another addition to your list.

Get involved in the community.

Consider donating time and services to help support local charities, schools, libraries, hospitals, churches, to build local awareness and friendly relations within the community.  Not only will this give you new and repeat business, but it’s great for organic word-of-mouth and great opportunity to get new e-mail addresses for your list.

Use Social Media.

Join groups on LinkedIn and Facebook, and follow lists on Twitter for local chambers of commerce, industry association(s), professional organizations, small business owners, and entrepreneur groups to meet with business leaders, share ideas, and discuss success strategies.  Often, after some time people will want to connect with you through e-mail and want more information.

Giveaway Freebies.

Web downloads of E-books are the fastest form of getting someones e-mail address.  Offer valuable information they need, and they will download it, opting in with no difficulty.  This is a great way to be recognized as a thought leader in your industry.

Run a Contest.

Who doesn’t want to be a winner? Give the crowds something they really want, and they’ll be viaing to sign up on the dotted line.  Ensure that whatever the giveaway, it ties in somehow to relevance in your business, and they include their e-mail address.

Newsletters and Webinars.

Just like e-books newsletters and webinars are an opportunity to provide relevant, timely and necessary information, that people will start to look forward too.  Giving away free information at first can be hard to do at first, but being seen as an industry leader will increase  awareness of your brand or business.  Additionally, to register for newsletters and webinars, leads opt-in with their e-mail addresses.

To grow your business, you must first build a network.  We recommend attending The Business Franchise and Investment Expo.  Then it’s building a list from those networking events and business cards.  The steps noted above are for strategically planting your company’s roots deeper for continued success and business growth through marketing.

About Us

The Business Exchange Magazine is a successful lead-generation magazine that connects buyers and sellers of established businesses for sale, franchises for sale and business opportunities. Visit our website for more information at www.BusinessExchange.ca

Guest Post

Written By:  Ron Guest, Senior Partner, at TwoGreysuits.com
Edited by: Puneet Dutt

Wondering how to save more money and time in your business?  Ever consider re-thinking your HR strategy?  As management consultants and experienced recruiters we are often called in, especially after a company’s recruitment exercise doesn’t work out. Job postings, interviewing, and recruitment firms all cost you a lot of time, and money.  The hiring mistakes company’s make generally fall within five categories.  These are the 5 Most Common Hiring Mistakes You Don’t Want To Make.

1. Too narrow scope in sourcing the market -  Often because of time restraints, companies end up choosing from a small candidate source.  Or the process gets dragged out because of the lack of qualified candidates. Even if you are doing everything else right, selecting from a small candidate pool is very risky. When hiring a candidate choose quality, and with a timeliness perspective in mind.

An effective recruitment campaign should include candidates from:

• Employee referrals

• Job board advertising

• Industry networking

• Trade association advertising

• Local advertising candidates

Another option, is a professional recruitment firm.  Firms always have their own database of pre-qualified candidates which ensure quality. Additionally if you know of a good person in the industry, try directly contacting them, since sourcing “passive” candidates is valuable. (Or this is often easier for a 3rd party to do.)

2. Skill Set of the Hiring Manager – Often, a hiring manager will focus more heavily on the candidates job knowledge, and not enough on the behavioural understanding.   Behaviour goes a long way in determining the best fit.

In our experience we see “behavioural poor fit” as the reason behind 90% of terminations.  Even when the person is actually good at their job! Being skilled in behavioural interviewing is critically important. Learning to do this properly is explained in the recruitment module on the Two Grey Suits website.

3. Poor or no reference checking – It is important to know how to conduct a detailed reference check. A proper reference check verifies job skills, and the behavioural fit in which the person operates in. For several detailed reference checking forms please refer to the recruitment module in the HR Power Center at TwoGreySuits.com.

4. Lack of orientation or on boarding program – Too often new hires are not properly oriented or introduced to the company.  It is important to explain what is going on in the company and what is required of them.  Hiring managers are often so relieved when a new person is onboard, that they let them find their own way.  This is a poor signal to the new hire.

It is said that without proper orientation a candidate usually leaves within 3-6 months of being hired. Have a plan in place for the first 3-4 weeks, and schedule in regular check-ins with the boss. There is no substitute for this.

5. Not understanding the cost/benefit in the recruitment process – Sourcing candidates can be very time consuming and also very expensive. Being cheap in this department will affect your quality of hire. Additionally, getting locked in on a certain compensation or salary number can place you at a disadvantage. Sometimes, by paying a few dollars more, you open up a vastly different candidate pool. However, the market will tell you what to pay in most cases.

Also, compensation is not always the most important thing to candidates. Other factors that may also be important are:

• Benefits

• Hours of work

• Telecommuting options

• Working from home

• Daycare availability

• Public transit availability

• Career progression

• Vacation time

If your benefits plan is outdated, it will affect your ability to hire qualified candidates in the marketplace. The decision to save a few thousand dollars in the recruitment process, can have lasting negative consequences. That can lead to less than average performers working in a business long term. The payback for hiring a high performing individual far outweighs any ‘savings’ realized in a recruitment campaign.

So remember to keep these HR tips in mind, the next time you are hiring a candidate.  It could save you a lot of time and money in the long run.

By: Puneet Dutt

It’s scary when you walk into your office, see that it’s October 31^st, and realize you forgot it was Halloween. Remember Halloween? The holiday you might have looked forward to each year as a child?  (Halloween is scarier this year for the kids who won’t be trick-or-treating or having a Halloween Parade, due to the weather conditions in the Northeast.)  But what’s scary to us as adults in the business world?

The following are a few trick or treats of the business world, because you never know what’s behind the door, a genuine trick, or a genuine treat.

Scary Tricks or Treats in the Business World (Photograph by-Jeff Vinnick, Getty Images)

Trick:

Trick: The schemes
If you’ve been in the business world long enough, you might have come across at least one of these.  The ‘get rich’ seminars where you get a chance to win a car, win friends, and make money. Magic potions, power vitamins, top secret weight loss franchise opportunities – honestly, the only thing missing is someone selling the fountain of youth. Am I right?

Trick: Tirekickers.
Enough said.

Trick: Floaters:
They start out really interested and really curious to learn more about you and your business, but often times, they digress. It turns into an opportunity to listen to other things. Want to know more about their dog? Want to know about how they started the island of Turks and Caicos with seven other people? Wanna know more about how they love going fishing, and sketching animals? And yet you find yourself listening, because you don’t want to be rude, but inside you’re wondering, hello, what’s your name? What is it that you do? Nothing that’s actually supposed to happen, happens.  No introduction and card exchange, ever materializes.  Nor do any discussions about your respective industry or business opportunities. Nothing actually happens.

Trick: Bad breath. You know. And I know.
Enough said.

Or Treats:

Wishhaha:
Recently at a networking event, we were introduced to Wishaha, an app that does giveaways everyday.  It also allows you to wish for a discount on something you really want. Just snap a picture and upload it to their Facebook page, share on Twitter, and Wishaha will try to get it to you. Download the app on your smartphone, or use their myriad of social media to contact with them to get your treat.

Networking event giveaways:
Giveaways of the past, things like: USB keys, cups, pens, and hand sanitizers, were things that languished in office drawers.  Nowadays, however, they’re becoming memorable! Companies are doing that through catchy slogans, and fun demos. It’s the swag bag people actually brag about. At a recent conference, free accounting software extraordinaires Wave, gave away t-shirts to their existing clients titled, “Can I get your numbers?” It was a big hit!

Expo Contests:
These contests are getting more and more interactive and fun. At a recent franchise show in Toronto, Canada, a business set up a carnival wheel.  Prospects stepped up to spin the wheel, to see if they won a discount or a prize from the exhibitors. Our company, DealsForBiz.com, had fans putt for movie passes using a putter on a golf green.

So as an adult, there are some Halloween horror tricks, and treats in the business world. However, we still lag behind on getting dressed up in costume at trade show expos. Any ideas on how to get that rolling for networking events in Canada?

Please share with us any tricks, or treats you’ve encountered in the comments section below. Thanks!

About Us

The Business Exchange Magazine is a successful lead-generation magazine that connects buyers and sellers of established businesses for sale, franchises for sale and business opportunities. Visit our website for more information at www.BusinessExchange.ca

By: Puneet Dutt

Create Curiosity

At every business or networking trade show, there is at least one booth with a large screen TV, a photo or video projector, something essentially that peaks people’s interest. Not everyone coming to your booth will be an ideal prospect, but busy activity is contagious. The more people that come to your booth, the more likely it is, that your prospects will flock to it too.

Make It Fun

There’s a reason why the saying ‘attracting bees to honey’ is so popular. If you’re making things fun at your booth, instead of showcasing the same old franchise banners and business brochures, people will engage with you. Your staff won’t be pulling teeth when discussing your company or product when you’re doing a demo, or explaining your service through a game. On a much more real level, casual connections create a lasting impression.

Giveaways

Have a business or franchise to sell? Free things are like kryptonite. If you have a your brand name or logo on it, even better. But do more than the common USB key, cup or pen. At a recent business franchise and investment expo show in Toronto, Canada, one booth did a t-shirt giveaway for existing clients, the shirts read, ‘Can I Have Your Numbers?’ Which made it all the more funny since it was for an accounting business.

Stand

Sitting down in your chair is the universal sign for ‘keep walking.’ The first impression to a prospect showcases you as tired, disengaged, or even bored. Even if it’s downtime, take a moment to say hello and chat with your neighbouring businesses. Stand in front of your booth and fix your displays, restock, or update your social media feeds. Anything but sit!

Take Turns

When it comes to lunch time, and much needed breaks, there’s nothing worse than talking to prospects with a mouth full of food. If you have to stand there wondering if your breath smells, or if you have something in between your teeth, it’s definitely the quickest way to lose your self confidence. Take a moment to tell your colleague you’re stepping away for a break. And don’t be gone long, a booth needs all the staff it can get!

Rehearse

If you’re in marketing, and someone asks you a sales question, you should be able to answer it. If you don’t know the answer, say, I’ll have someone get back to you as soon as possible, or let me find out for you. Practice your answers if its something that’s not part of your regular job description. Especially if it involves selling a franchise to franchisees. Read as much as you can on the topic before you go too. However, make sure you get their business card to follow up with them as soon as you can.

Listen

Less talking and ask more questions. Pretty self-explanatory.

Collect

Get the contact information you need quickly. So consider pairing this up with a draw or giveaway, which requires everyone to leave their business card. Even if you didn’t have one-on-one with everyone that stopped by your booth, you now have the opportunity to do so.

For the next Business Franchise and Investment Expo in Toronto, Canada stay tuned. The tentative date of The Business Franchise and Investment Expo is the weekend of April 28-29^th. You can find out more information by checking out our franchise show link on our website at http://www.businessexchange.ca/franchiseshows.html

About Us

The Business Exchange is a successful magazine that connects buyers and sellers of established businesses for sale, franchises for sale and business opportunities. Visit our website for more information at www.BusinessExchange.ca

By: Puneet Dutt

Yes, yes, you’ve heard it all. How many articles on social media can you really read before your eyes glaze over?

Well, we’re going old-school in our approach to business, and it really works. Want to stand out above your competition? Yes, even if you’re a small business, or a service provider like a realtor, consider the Top 3 Tips and best practices to create a solid customer loyalty program.

It’s a fact that loyal customers spend more money. They tend to buy more plus they make referrals. So go ahead and read the article on our blog that will have your customers thanking you for thinking of them.

The First Step:

Network

Networking creates an opportunity to meet new people and put forward your best practices. After the event, create a text file of the e-mail addresses from the business cards, and write a quick note about the conversation you had. A one-liner will do, so you don’t forget the unique specifics of your dialogue. Preferably, you have time to write out your thank-yous and follow ups, but if you don’t, save the information right away to get to later. And make it a priority! Those relationships you built during those events, will refer you to others. You will start to notice a small trickle effect.

Eventually then, referrals can become a key way you generate your business.  Relationships will drive your company’s revenue, you just have to believe in it. Rewards start with loyalty, and loyalty starts with your business contacts.

Create an army of die-hard fans

The Second Step:

A Customer Loyalty Program

Don’t let your customers feel like you think of them only when you want money or want to up sell them. Show them you really care, by implementing a customer loyalty program. If you’re struggling for ideas, think back on brands and companies that have provided you with excellent service. Did they have a loyalty rewards program? Points? Gifts? Think back on how they did it, and what you loved about it.

For example, look back on other design marketing materials from other businesses such as loyalty cards, gift card applications, promo storefront stickers, and promotional tent cards that had loyalty programs.

Then if you’re still struggling with implementing this, and lack the time to hire a full-time person to help, consider companies out there that specialize Customized Customer Loyalty Programs. Some companies provide easy to use introductory packages that give you taste of what they do without long-term contracts.

The Third Step:

Communication Tools

There are plenty of free and paid services to help you stay in touch long after the customer transactions have been made. If you’re tech savvy you’re probably already on Linkedin, Twitter, and YouTube, but have you heard of Sendoutcards.com? Talk about making life easier! Send out birthday, anniversary, get well, thank-you and other cards from the comfort of your living room.

Here’s how it works: Pick an existing design, or custom make your own. They will print, handwrite your message, sign, stamp, seal and deliver the card to your business contacts and loved ones. Are you a realtor? Then you know referrals mean everything. This is just another easy way to stay in touch with your current clients. Adding an emotional touch that comes with a written card will differentiate you above the rest of the hyper-socialized world.

And wasn’t it Maya Angelou the famous writer the one who said, it’s not about what you say, or what you do, that makes people remember you, but how you make them feel.

In closing:

So ensure your business contacts, networks, circles, friends and family are feeling good. They are your word-of-mouth marketing tools. And if you’ve already tried SEO, and you’re looking for other ways to draw more traffic to your site. Consider a Customer Loyalty Program. Gain insight into your customers, and increase your communication and drive repeat visits.

You can do all this and establish positive word of mouth simply and easily by taking advantage of today’s DealsforBiz.com daily deal – $418 for a Customized Customer Loyalty Program from LoyaltyGator.com ($863 value). Click Here to purchase. LoyaltyGator.com has created loyalty programs for businesses in all different industries. It’s easy to get started and best of all, your data stays secure and you can control employee access.If you’re like many of us with busy lives and too much to juggle already, LoyaltyGator.com is a great option as a one stop shop for all your customer loyalty program needs.

By: Puneet Dutt

Tweet-Ups are Great Way to Connect

I am often approached by small businesses wanting to know what they can do to get the word out about their product. In the time that I’ve been in this industry, I have learned a few things that I am more than happy to share.

Build relationships.

In a more and more technologically advanced world, there are more opportunities to stay inside, and never have to leave your house. Ultimately, we can recede back to cave men status, if we want it! However, when it comes time to do business, the people who win are those who have built some kind of relationship.

So seek out those industry experts. Listen to what they talk about on Twitter, on their LinkedIn, on forums or on their blogs. Comment. Offer help, share advice, and answer their questions. Build a rapport for being trusted.

Then, eventually, ask to meet up to chat over coffee. Don’t talk about business until much later and even then don’t try to sell them. Just talk about what your service or product offers. Then wait to hear what they say. When the right time comes, they will think of you above the others, because now you have built a relationship.

Face-to-face Meetups.

These are great opportunities to get to know people in an environment we’re they’re open and receptive to being approached with pitches. Come with plenty of business cards, and again, listen to what problems they’re facing. If your service or product can’t solve their issues, pass them off the contact information of someone who can. They will return the favour too. They will remember your help, and they will keep you in mind for the future. Check out BizNetworkNews.com to find the latest networking events happening in your area.

Tweetups.

Websites, Meetup.com, clubs, groups, and associations, all have their Tweetups or online chats. One Facebook group has ‘Tell Us Tuesdays’ where anyone can come and discuss business issues, at 2 p.m. On Tuesdays. Do a Google search to find other relevant Tweetups happening in your industry. Join at least one!

Trade Shows.

Can it get any easier? Get a booth, and visitors approach you. Face-to-face time gives you a better opportunity than cold calling to talk about your product. Visitors come ready with their questions and concerns, and will ask how you can help them. Be ready with giveaways and contests while there to create buzz around your booth. Additionally, this is where you can really go all out. Bring your Ipad, laptop, or TV screens. Decorate with eye-catching banners and displays. Bring your brochures, applications and forms.

Stay in touch.

Meeting up once, and passing off a business card, doesn’t mean that it’s over. Send a thank you note expressing how wonderful it was to meet and get a chance to discuss X,Y, and Z. Don’t pitch them right away. When you follow up after the thank-you, just say, I’d like to send you more information about so and so…

Which brings me to my next point.

It's considered SPAM if you don't ask!

Ask permission!

Spamming is a nuisance, and will almost always get you blocked and sent to the junk mail folder. Always ask in your follow up or initial e-mail if it’s alright to send them materials or a link to something.

For example: ‘I found this article relating to the X,Y, Z conversation we had. I thought you would love to read it, may I send it to you if it’s alright?’

‘I think our product or service would be an excellent fit for you and I would love to send you some more information, and stay in touch if that’s alright.’

The answer almost always will be a resounding yes.

So next time you’re feeling disgruntled or frustrated about your next marketing steps, or have questions how to get out there, remember the saying “A ship is safe in harbor, but that is not what a ship was built for” . You must meet people and build relationships. People will do business with those who are personable, friendly and charming.

Yes you can hide yourself away from the world. Be a cave man if you wish. But to be a successful entrepreneur you need more than the perfect business model and product to succeed. You need to be able to go out there, and be confident in your approach. It may seem risky for those that are shy, but remember, to be the best you have to sail out into the unmapped open ocean from time to time.

By: Puneet Dutt

 

Owning a business can be a lot like marriage. There’s commitment, loyalty, and of course passion. If you’re an existing business owner, or if you’re about to take the plunge, we’ve outlined an advice speech, 6 Best Bookkeeping Practices for Your Business You’ll Want to Have and To Hold, till you part.

 

 



Track your assets and monthly depreciation

1.    Get Organized – This doesn’t refer just to clutter. This means that when things start to get hectic, as it does with any business owner, don’t let things slide, or accumulate. Making sure things are done properly from the start, will save you a lot more time down the line.

2.    Have an Audit Trail – This is a must! This will be your number one suit of armour to protect you against all the “in-cases” that happen to business owners. Things such as disputes, tax audits, and protecting against fraud etc.

3.    Use Software – The benefits of using a software far outweigh not using it. Perhaps you’re a business owner that wants to keep your spending in check? You get full control! You can see how much your earning, your profits, budget, spending, all of which help you to become more careful, and sensible when it comes to purchasing. Software is efficient but not a complete solution. To optimize your bookkeeping, consider utilizing a bookkeeping service firm.

4.    Reconcile your monthly statements – Hate the year end tax time? Well make that time smoother and pain-free by keeping a routine of closing your monthly accounting records. Verify clients have been invoiced, double check deposits posted, make sure bills have been paid, reconcile credit card statements, loan balances and lines of credit, track your assets and monthly depreciation, write off bad debt, verify all checks and invoices have been accounted for, review financial statements, and update your budget. Print, save and back up, back up, back up!’

5.   Document retention for 7 years - Section 230 of the Income Tax Act requires books and records be kept in a format that allows assessment and payment of taxes. The Excise Tax Act, Employment Insurance and Canada Pension Plan legislation also have this requirement.

Records to Keep:

• financial statements

• ledgers and journals – computerized or manual
• log and appointment books
• spreadsheets and working papers
• tax reports and records
• your Business Journal
• other documents that support your claims

Supporting Documents to Keep:

• bank statements, cancelled cheques and deposit slips
• sales invoices and receipts, cash register tapes, purchase orders
• credit card statements and all business purchase receipts
• legal and government correspondence
• any other documents and correspondence including e-mails

6.   File on time - Filing your GST/HST return late could mean penalties and interest charges tacked on to your existing outstanding balance. To avoid these extra charges, ensure your file your returns early. To find out more about due dates, and other tax related information check out the website for the Canada Revenue Agency by clicking here http://www.cra-arc.gc.ca

And grab today’s daily deal from DealsForBiz.com by clicking here http://bit.ly/n5NNZV

50% off Regular Bookkeeping Services for 1 month (Value $500) for $250

Tips have been transcribed from the following video: Bookkeeping Tips and Best Practices – SmallBusinessBC