Build-Business-Connections

Ready to Create Quality Business Connections?

It’s no surprise that networking is a common approach entrepreneurs use to meet new people, expand their network and build relationships that are mutually beneficial. While personal introductions and recommendations can lead to new business opportunities, building connections is not easy and it takes time.

The new year often brings an upswing in events to get you in front of new people. But the bitter cold and snow this February has certainly made it challenging to get out there.  Fortunately, you can still be visible when you are stuck indoors.  By combining social networking with live events, you can build valued contacts in any climate.

So while you wait for the weather to warm up, why not begin building a stronger presence on social networking sites like Linked-In. When done right, it helps you connect with other professionals and build a quality network online.  You’ll have more success if you remember two things:  be helpful and be engaging.   Share your knowledge.  Connect others.  Be a resource.

When you do get back out there and attend business networking events, make your efforts pay off.  Here’s five tips to do it right.

  • Prepare. Many events today have online registration.  Check out the list of attendees and refresh your memory so you can use names when you see people you’ve met previously.  Plan how you will introduce yourself in less than 10 seconds.  And if you need a commercial, have one prepared.  With a little planning, you can make a bigger impact.
  • Focus On Building Not Selling.  Creating strong, long-term connections takes time. People are more willing to engage when you make them feel comfortable. This is not the time to sell.  It’s time to be inquisitive!
  • Ask Questions.  Nothing says you are truly interested better than asking specific questions. Make the conversation about them.  It’s a great way to learn more, find ways to help and demonstrate you care.   Build rapport with questions – and remember to listen too!
  • Stay Memorable.  Most people will forget contacts they met at an event within 3 days – unless you make it a point to stay in their head.  Whether it’s an email, phone call or invitation to connect socially, make sure you follow-up quickly – within 48 hours!  Don’t blow the chance to make an impact, follow up!
  • Connect Others. When you feel someone would benefit from an introduction to someone in your network, take action to connect them.  It shows your willingness to help and both parties will remember! They may even reciprocate – and connect you with someone else!

Like most marketing, integration of online and offline networking works best.  So take advantage of both methods – social and live events, to expand your network.  Be proactive.  Have a system.  Take the necessary steps to start building those relationships today.

Need help building systems for networking and other areas of your business?  Then check out my Ultimate Systems Guide for Small Businesses.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

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Why New Year Resolutions Don’t Work

While new year resolutions are common practice, most people fail to stay on track for more than a week or two.  Whether you want to lose weight, spend more time with family, work less or make more money – it takes more than good intentions to make it happen.

Here’s how to turn your resolutions into results.

# 1 – Think Goals. Most people set resolutions that are vague. So think goals instead.  Make it specific, write it down and keep it visible so it acts as a constant reminder for you.

#2 – Take Action. Nothing will change unless to take action and do something.  This may include specific tasks, new skills or simply changing some old habits or behaviors.  For example, if you want to spend more time with your family, you may need to go into work earlier, delegate non-essential tasks, hire an assistant, improve your time management skills or plan and prioritize you work better.  So now that you set your goal, identify what you need to DO in order to achieve it.

#3 – Share It.  Share your goal with someone who is supportive and passionate about your success.  This can be a spouse, friend, mentor or coach.  Sharing your goals with someone else adds a level of accountability and focus – because it is natural for them to ask you how you are doing.  It’s the best motivation out there!

It’s not too late.  Make this the year you get what you want. Set It.  Do It. Share It.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

Create Business Systems2

Taxes: Common Mistakes Business Owners Should Avoid

Common Tax Mistakes Business Owners Should AvoidEach year tax laws change.  Since most businesses are pass-through entities, profits are passed through to the owner(s) and taxed at individual income tax rates.   It’s why I recommend my clients talk with their accountant before year-end.  It helps them develop options to legally reduce liability and minimize tax payment surprises.

According to Ray Giunta, CPA and partner at Baratz and Associates, here are some common mistakes small businesses want to avoid when it comes to taxes.

Tax Planning in January.  If you wait until the new year to talk to your accountant, you will likely lose the opportunity to make any changes that could potentially reduce your tax liability.   Adjusted gross income thresholds on itemized deductions, exemptions, capital gains and Medicare tax thresholds have all changed this year.  Take the time to talk with your accountant and work up some projections to avoid surprises at tax time.

Poor Record-keeping.  This often represents missed opportunities for deductions.  Some common ones include automobile logs and travel and entertainment substantiation.  Keep receipts and include descriptions, purpose, and people (for entertainment).  Categorize expenses properly in your financial management system.  A bookkeeper or accountant can help with this.

Poor Business Decisions.   Don’t let tax considerations get in the way of sound business decisions. Taking actions that minimize tax liability at the expense of cash flow or long-term growth may put your business in jeopardy.  If you are uncertain, talk to your accountant before you take action.

Ignoring Miscellaneous Tax Obligations.  Federal and state income taxes are obvious, but make sure you know and understand the requirements relating to local taxes, business use taxes, state nexus taxes, sales taxes and personal property taxes.  They all impact your business and personal wealth.

Choosing an Accountant

Selecting a trusted advisor (accountant) for your business is important.  They not only have access to your financial information but can help guide you in making sound business and personal financial decisions.  Reputation, price, services offered, responsiveness and responsibility are all factors to consider.  Here’s a list of questions I find helpful when referring business owners to an accountant or CPA:

  • Do they have experience and knowledge working with others in your industry?
  • Do they have capabilities beyond simple tax preparation such as estate, gift and trust expertise?
  • What is their reputation in the business community – are they a trusted advisor for others you know?
  • Do they have credibility with banking and bonding institutions?  This is helpful when you need business financing and/or personal loans.
  • Do they have the capabilities to service growing businesses? As your business grows and expands, it becomes more complex – so you want an accountant who is ready and able to guide you.
Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

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Time to Re-Purpose Your Life?

This is the time of year that I start working with clients on next year’s goals and plans.  As part of this process, I recommend they revisit their vision or life purpose.  Does it reflect where you want your life to be sometime in the future?

Setting goals for your business and life is a lot easier with the end in mind and that starts with a clear vision.  It’s easier than you think.

  • Block off a few hours on your calendar to work on it.  Pick a time with no distractions – no phone, kids, television, computer – and some quiet ‘me’ time.
  • Pick a time frame.  Depending on where you are in life, pick a time frame sometime in the future – 5, 10 or 20 years.  If 20 seems overwhelming, start with five years out.
  • Let your mind wander – Dream.  Answer the question, ‘Where do I want my life to be in 10 years” and start jotting down whatever comes to mind.  Think about all the areas of your life — your career or business, financial, family, relationships, health, spirituality, and community.  What do you want to be, do, have or accomplish?
  • Clean or type it up.  Whether you choose to list bullets or write it in paragraph form, write it down and view it often.
Dream Big

It’s sometime in the future.  Don’t worry about how you will get there just yet.  Since the how can be a dream killer. Don’t worry about sounding silly or trying to set realistic expectations.  These are dream killers too.   This is not the time to be humble.  Let your imagination run wild.  Now go do it!

How Do You Measure Up?

Curious how you measure up in key areas that impact your business? My free business success checklist can help you figure it out.  Click here to access this free download.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

Create Business Systems2

7 Reasons to Love Systems

7 Reasons to Love SystemsNeed Business Systems? Of course, you do. You already know this. And you probably have systems for business – methods to attract new customers, serve them, bill them and keep them coming back. But…

Are they written down so others consistently do things the same way?

Are they efficient or do they have a lot of duplication and unnecessary work that robs you and your people of precious time – while adding no real value?

Are they effective – do they get you the results or outcomes you want?

I will freely admit that I love systems. Why? Because they are the best way to build additional profit into your business.

Documenting procedures and monitoring results makes everything you do – from marketing and sales to daily operations and billing – more efficient, more effective and more consistent. And isn’t that one of the keys to profitability?

7 Reasons to Love Systems

  1. You’ll make more money! Yes, good systems put more profit on the bottom line and ultimately in your wallet.
  2. You’ll deliver what you promise to customers each and every time – so they keep coming back and tell others!
  3. Training new employees is easier – so they contribute sooner and are more productive!
  4. Taking time off won’t be so stressful – your team can handle it just fine, maybe even better!
  5. Looking to expand or start another location? No problem. Your systems are repeatable for others to use.
  6. Plan to retire and pass your business on to your children? Your systems make it easier to transition and keep the business running well.
  7. And if you ever want to sell your business – proven systems that are documented make your business more valuable and sellable! It is no longer totally dependent on YOU.

Ready to start building systems in your small business?  Check out my Ultimate Systems Guide — a step by step method that makes it easy for small business owners.  Click here to learn more.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

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5 Ways to Improve Your Offerings and Increase Revenue

The needs of customers change and evolve.  Are your products and services keeping pace?  Here are five ways to improve your offers and increase your revenue:

Create a new product or service for your business.  What do your customers need today that you could easily offer or integrate into your services – big or small?  The key to success here is to ensure it’s a natural fit for your other products or services.  They should complement your current offers – and be ‘logical’ to customers based on your company’s reputation, experience, etc.

Offer a simpler or smaller version of an existing product or service.  Can you take something away or simplify it to make it more affordable to your target customers?  This may be a way to create an ‘easy entry’ to your company – and you can up-sell or cross-sell them later.

Offer a bigger or more expensive version of an existing product or service.  What can you add – value or technology – to make the product or service more appealing to your ideal target customers?  Consider what your competition does, or does not provide?  One of the keys is to do a little research by talking to your ideal target customers.  What do they want, what are they willing to pay?

Package existing products or services.  While bundled services may cost more as a package, they typically deliver more value in the long-term and ultimately save you money.  The key with packaging services – do it for a niche.  Do not try to create packages that serve everyone or you will ultimately serve no one.

Update your services.  Most products or services have a shelf life based on changes in the market.  Does the added value you provide still matter to customers? If not, remove them and save the money.  Are there services that are now expected? If so, find a cost-effective way to incorporate them.  Feedback from customers makes this easier to do – so evaluate your services and modify them as needed.

More Ideas to Grow Your Business

Looking for additional ideas to improve your small business? Then subscribe to my monthly eNewsletter for articles, tips and great insights on business and entrepreneurship. Click here to subscribe.

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7 Ways to Make Your Blog Pay Off

7 Ways to Make Your Blog Pay OffWhether you want your blog to create web traffic, grow your online community, build relationships with customers, position yourself or company as an expert or soft-sell your services, a blog offers a lot of possibilities. It’s a great marketing tool!

So how do you make your blog pay dividends? According to Lori Shapiro, owner of By All Writes, think quality and consistency.

How To Get Your Blog Noticed & Shared

  • Make Content Worth Sharing.  Quality content is key. Do a little research. What are people talking about in the news or socially? Can you put a different perspective on it? Can you blend some facts, relevant quotes, emotion or humor, where appropriate, for emphasis?
  • Create Compelling Headlines.  A creative, snappy headline compels your reader to keep going or read more. An intriguing question, challenge or controversy can work well. Brainstorm and experiment.
  • Use Keywords Effectively.  Keywords and tags are important. They help you get found by search engines. Lori’s advice, don’t compromise good writing by adding keywords arbitrarily (keyword stuffing) within your post. Develop and use relevant tags instead.
  • Know Your Audience.  Always stay true to your target. Make your blogs relevant to them. When you do, they will follow (or subscribe) and share your posts with others.
  • Call-to-Action.  If you want your readers to do something, let them know. From simple to sophisticated, a call to action can include answering a question, subscribe to a blog, check out a special offer (landing page) or get more information. Related posts are a good way to keep them engaged. Share buttons make it easy for readers to share with their networks. Most platforms have these capabilities.
  • Be Consistent.  When it comes to frequency, there are no steadfast rules. How often you blog will depend on your type of business, target, purpose, desired length (words) and quality level. Longer, researched posts will take more time. Whatever frequency you determine is best for your business, do it consistently and reap the rewards.
  • Toot Your Own Horn.  Share your blog posts on social platforms that are relevant to your business – and encourage your social network to share it also! Don’t be afraid to ask for help to spread the word!
Blogs: More Than Education

While blogs are often used to share tips and suggestions, you are not limited to educational content.  Why not use some of your posts to share news about your company or employees?  Or maybe some local community buzz that might interest your followers?

Related:  Choosing The Best Marketing Strategies For Your Business

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Why Your Business Needs an Employee Handbook

Federal and state laws mandate businesses communicate some policies in writing to employees. But, there are no laws that require a business to have an employee handbook. So why have one? Because the benefits go far beyond legal compliance. Whether you have a few employees or hundreds, an employee handbook can be a powerful business tool.

So why do many small businesses operate without one? According to labor and employment attorney, Beth Lincow-Cole, the reasons vary. Most often it is due to beliefs that putting things in writing will expose a business to greater liability. Also, some owners believe that  federal and state laws only apply to businesses with more than 50 employees. These are myths.

Employee Handbook:  Set Expectations

An employee handbook is a guide to help you communicate relevant information about your business in a way that is efficient and uniform.  So employees know what you expect and what they can expect from you.

Clear, concise communication within a company can mitigate legal liability and risk. Sharing policies and expectations, in positive terms, can also give employees a sense of comfort and motivation. It helps to create a legally safe environment and also provides clarity and direction for your managers and supervisors.

What Is In An Employee Handbook

While the actual content and wording will vary by type of business, an employee handbook will typically cover the following areas:

  • Company history, vision, mission, culture and goals so employees have a good understanding of your business and can help you achieve the results you desire.
  • Policies relating to discrimination, harassment, disabilities, EEO, drug and alcohol testing and safety so employees understand your policies and how to rectify issues that may arise.
  • Use of email, the internet, and social media so employees know what is and isn’t acceptable.
  • Company benefits from health insurance and paid time off to workman’s compensation and leaves of absence.
  • Performance reviews, compensation, rewards, and termination policies.

If you are ready to put an employee handbook in place, here’s a few things to consider. First, avoid language that implies lifetime employment or an employment contract, specific reasons for termination without a disclaimer for omitted items and wording that defeats the employment-at-will provisions that apply to many states, including New Jersey.

Second, if you begin the handbook process with something you purchase online or borrow from another company, have the handbook reviewed by an attorney to make sure it complies with state and federal laws AND is relevant for your business. It should reflect your operations, culture, and values.

Whether you do it yourself with a legal review or hire an employment law attorney to work with you directly, starting a company employee handbook can be a dreaded task. Beth’s advice, think of it as a marketing piece for your employees and don’t take yourself too seriously. The task becomes easier to swallow when you think of it as one of the most important documents in your business.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

Create Business Systems2

Are You a Serving or Self-Serving Leader?

serving leaderWhat makes for a good leader?  As a business owner, we wear a lot of hats.  But your role as leader is probably the most important one for your company.  After all, a team that works together will always accomplish more than a group of individuals working alone.  And YOU hold the key for creating that team.

There are thousands of books on leadership, but one of my favorites is ‘The Secret:  What Great Leaders Know and Do’, by Ken Blanchard and Mark Miller.  It reinforces one simple reality — great leaders consistently look for ways to SERVE their teams and organizations.  In other words, great leaders are serving, not self-serving.

According to Blanchard and Miller, here are the 5 fundamental ways that leaders SERVE?

S = See the Future

A compelling vision tells everyone who you are, where you are going and what values drive your behavior.

E = Engage and Develop Others

While it starts with choosing the right people, you can accomplish great things when you allow them to fully participate.  Developing others involves creating an expectation for learning and personal growth, providing development opportunities and mentoring your team.

R = Reinvent Continuously

How can we do things better, with fewer errors, faster or for less?  Instill the desire for improvement into the people doing the day-to-day work.

V = Value Results and Relationships

This is not an either or option.  Profit and financial strength is the reward for excellence in entrepreneurship.   How much emphasis do you place on getting results?  How much time do you invest with your team to make a difference in their lives?  What do you do, on a consistent basis, to express appreciation for a job well done?   Great leaders value both – and you should too.

E = Embody the Values

What core values are important to you and your company?  As the leader, you must establish, articulate and enforce them.   Embody the values in what you do – and integrate them into what your team does.

So what are some of the ways you can integrate the SERVE method into your small business – and be the leader you were meant to be?

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com

National Small Business Week

10 Ways to Ramp Up Success

In celebration of National Small Business Week, I  wanted to acknowledge all the small business owners who make a difference in our communities and impact the lives of so many people.  Your persistence, innovation and commitment to serve others have contributed to our past prosperity – and will continue to play a big role in our future economic recovery.

So hats off to all of you.  And while I believe many small businesses have the potential to be better and stronger than they are today, I am certain you have what it takes to achieve success.

10 Ways To Ramp Up Success
  • Have an Actionable Plan
  • Think Long-Term Value
  • Focus on Results
  • Be a Lifetime Learner
  • Speak the Language of Business
  • Leverage Your Business
  • Niche: Think Small to Grow Big
  • Create Profitable Growth
  • Give Your Products a Facelift
  • Create Raving Fans

For more on this topic and some practical suggestions, read my full article, 10 Ways To Create a Successful Business.

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com