Gain The Funding You Need To Grow Your Business

/in /by

StrategyDriven Managing Your Finances Article |Funding|Gain The Funding You Need To Grow Your BusinessAre you thinking about growing your business? Growing your business is important and it’s one of the measures of a company to determine whether it is successful. If your business remains stagnant on the market for too long then the longevity of your model will almost certainly be called into question. However, growth does cost money. So, let’s look at some of the ways that you can fund a change like this in your business model.

Self Fund

First, you might want to think about self funding your business growth plan. This could be possible if you have enough money already in your personal accounts. Even if you don’t you might be able to free up some money. For instance, you could sell structured settlement damages that you claimed in a court case. This will provide you with a massive sum of money that you can then inject into your business. There is absolutely no limit on how you use annuity like this. If you want to fund your business with the cash, then you can.

Head To A Tradeshow

You could consider attending a tradeshow to gain the funding you need for your business. Attending a tradeshow will be useful because it means that you will be able to get the interest of investors. Unfortunately, attending a tradeshow is also massively expensive so it does require you to take on quite a lot of risk. You’ll have to spend about a year planning for this type of event and you need to think about ways to ensure that your business does stand out. However, even with these issues attending the right tradeshow can catapult your company to new heights.

Get A Loan

Next, you could think about using a loan to fund the growth of your business. If you are going to get a loan for a company, then you’ll need to ensure that your books are in order. It’s essential to guarantee that you are not in the red or taking on too much risk. Your credit rating can also impact your ability to get a loan for a private company. As such, you might need to improve your credit before you take this action and move forward with this possibility.

Other loan options include private equity and venture capital funding. However it is important to know what position is right for your business and what you qualify for. Taking on the wrong type of funding can go one of two ways so while both of these are viable options for funding you should research private equity vs venture capital funding to ensure you know exactly what you are getting into.

Crowdfunding

Of course, you could also look at crowdfunding options as well as a way to get the money that you need to grow your business. This could be a useful option if you are planning to sell a new product or service and you know that there’s already an audience interested in buying. Crowdfunding is a smart choice if you know how to build demand, get people excited and use viral media. However, it’s highly competitive these days and it’s difficult to breakout or get attention unless your company has a hook. There needs to be something unique that makes an audience connect.

As you can see, there are numerous paths that you can choose which will allow you to fund your business growth. It’s just about choosing the right one for your particular business model.

Taking On Your First Team Members: Everything That You Need To Know

/in /by

StrategyDriven Talent Management Article |Team Members|Taking On Your First Team Members: Everything That You Need To KnowYou’ve done what seemed impossible – you’ve managed to grow your business to a point where you need to take on additional team members – and you couldn’t be more excited. Your business has started to grow and you know that if you get your approach right, you can ensure that your business has the very best chance of continuing to grow and thrive.

The only issue is that you’re feeling a little overwhelmed by the process of taking on your first team members; it’s a lot to take in, after all. The good news is that just because the concept of taking on your first team members seems like a somewhat daunting one, that doesn’t have to be the case – there are plenty of steps that you can take to make taking on your first team members a less stressful and more enjoyable experience.

Wondering what those steps are? Below is a guide to everything that you need to know about taking on your first team members!

Bolster your knowledge

Before you can even think about hiring your first team members, it’s important that you take the time to boost your knowledge and understanding of how the hiring process works, as well as what it takes to be a good employer. You might find that by choosing to undertake a couple of management courses that you might find learning to be a boss – because it is something that’s learned – becomes easier to manage. If you’re serious about being the best employer that you can be, then it’s definitely something that it’s worth taking the time to master.

Don’t go it alone

Not sure how to cope with taking on your first team members and all of the admin that goes with it? Don’t panic – take the time to think about hiring a specialist to help and support you with the hiring process. You will find that if you have some HR support on hand, either full-time or on an adhoc or freelance basis, you can make the process of hiring team members a far more enjoyable and less stressful one.

Take safety seriously

One of the most important things when it comes to taking on team members is to understand the importance of adequate health and safety at work. When you run a business, you can be held accountable should a team member hurt themselves while they are at work, which is why getting health and safety right is so important. You might find that guides like Carlos Ramirez Safety guide could be useful to help make understanding the ins and outs of workplace safety a little easier.

There you have it, a simple guide to the ins and outs of taking on your first team members. There’s a lot to think about but the process doesn’t have to be as stressful as you might think.

Stop Targeted Security Threats From Hitting Your Business Bullseye

/in /by

StrategyDriven Risk Management Article |Security Threat|Stop Targeted Security Threats From Hitting Your Business BullseyeA lot has changed for businesses this past year, with virtual work changing the way we operate and the threats that we face. Most notably, worrying trends in an increase of targeted phishing attacks (around 73%) have left countless companies open to threats that simply didn’t exist before. This, alongside an almost overnight shift to long-distance network access, has contributed to the 400% increase we’ve seen in cybersecurity breaches since the pandemic began.

Clone phishing is especially coming to the fore, mimicking official sources or even in-office addresses, to increase the risk of damaging downloads. What’s more, rising unemployment rates have seen even non-versed cybercriminals launching DDoS (distributed denial of service) attacks that, unlike traditionally invasive malware, can cause untold damage without an in-point.

Put together, all of this spells significant problems on the cybersecurity front, which, in many instances, can feel entirely above intervention. In truth, though, there are ways to prevent even targeted or out-of-house setbacks, and we’re going to consider them here.

1. Bring experts onboard

In-house IT has been struggling for a while and, as cyberthreats become ever more intelligent, the need to do away with limited in-house expertise has only grown. By instead turning to the IT support offered by companies like Envision IT Partners, you ensure that you’re working with individuals who have seen first-hand how security threats are changing and who have already been working to offset those shifting risks in real-time. Even better, the managed services offered by companies like these ensure ongoing, expert-led monitoring that can prevent even DDoS attacks from doing any real damage.

2. Protect your network

Targeted phishing attacks are increasingly challenging to identify and avoid, with hackers now using personalized tags and mimicking official resources. If they gain access to your information, cybercriminals may now even be able to mimic individuals within your very own enterprise! As such, even the best-trained team (more on that later) can’t be held accountable for mistakes made. Instead, many companies are finding that protection is the best cure, and considering your network is the most reliable way to achieve that. Specifically, you’ll want to ensure end-to-end encryption, preferably with a cloud-based backing, that guarantees hackers can’t gain access even if an employee opens a phishing email on their device.

3. Revamp your training

Even with an encrypted network and monitoring oversight, you’ll want to avoid breaches and the potential risks those bring as much as possible, and training remains the best way to do that. Most importantly, regular training sessions (around every three months) ensure that employees understand the intelligent threats on the table as they arise. This makes them far less likely to fall foul to even convincing phishing downloads, and saves everyone a whole world of hassle and potential downtime.

Change can always be daunting, especially where the activity of cybercriminals is concerned. Luckily, while phishing attacks may be becoming more intelligent, so, too, are the solutions on-hand to offset them. So, stay ahead, and stay safe by putting these pointers into action sooner rather than later.

How To Make Your Small Business Customers Happy

/in /by

StrategyDriven Customer Relationship Management Article |Small Business Customers|How To Make Your Small Business Customers HappyHaving a small business is an incredible achievement. In the beginning, it is all about coming to terms with how to market your business in order to reach new customers and grow your client base. From thereafter, it is crucial to maintain customer happiness in order to generate regular sales. If you are a small business looking for the best ways to keep your customers happy and keep coming back, keep reading.

Maintain positive customer feedback

Positive customer feedback does not only look good for your business, but it will also keep your customers happy and engaged.

For instance, if you are a new restaurant owner, your restaurant customer feedback is super important to maintain. A bad review can hinder your business and put people off of using your service or buying your products. Thus, ensuring you satisfy your customers and maintain happy reviews, it will look good for your business.

Offer good customer service

To keep your customers engaged, good customer service is key. If you lack customer support, your customers will find it difficult to stay in touch with you. They may want a question answered before purchasing a product. Thus, if you do not offer a quick response, they may lose interest and this could hinder your business sales.

It could be as simple as staying on top of your emails. Or, you could engage with your customer via social media messaging systems. This is a little more informal yet customers like to have friendly conversations to keep respected and familiar with the brand.

Regular rewards

As a small business, you cannot always offer deals and discounts. Yet, for those customers who come back regularly, it could go a long way to offer them a reward. It could be as simple as a free gift, or discount on their next order. You could even offer their friends and family a one time discount. This will keep your customer happy and also reach out to new customers, who may turn into regulars, which will benefit your business.

Assess customer needs

It does not hurt to determine your market and spend some of your marketing time getting to know your customers wants and needs. Doing some market research before you start your business can go a long way and save you a lot of time. Without market research, you may spend the first few months trying to reach out to customers that may never want or need your product. Thus, determining the specific market that will enjoy your product will be better for your business, save you time, and also offer the customer something that they have always been looking for. Understanding who your customers are will help you understand what they expect from your business, which you can implement into future products/services.

Ask for feedback

Keeping up regular conversation with your customers is important. It will make sure that they remember you and build a friendly relationship. When you reach this point, asking for feedback can benefit your business as well as your customers needs. Asking for feedback on your product and customer service will help you learn and also offer the customer what they want in the future.

Remember names or needs

Remembering a customers name makes them feel valued and appreciated. Building a close bond with your customer will also help you understand their needs.

For instance, if you own a small eco-friendly store and you know a customers name and that they like a certain product on a certain day of the week, you can have that product ready for them. This will make their shopping experience easier, keep them satisfied, and always coming back as they will feel valued. A little appreciation and notice goes a long way.

Thank them regularly

Just like appreciation, a thank you goes a long way. Thanking your customers regularly for their service, time, and help will help them feel respected. It will show them that you appreciate them and the help they have brought to your small business. Even if they help you by introducing a new customer to your business, don’t forget to personally thank them and maybe reward them with something your business can afford.

As a small business, a little respect, time, and friendliness can go a long way. Ensuring your customers needs are catered for will keep them satisfied and want to use your business again. Show them you respect them by offering small rewards and good customer service to keep them engaged and content with using your business.

Simple Online Money Making Ideas In 2021

/in /by

StrategyDriven Entrepreneurship Article |Make Money Online|Simple Online Money Making Ideas In 2021If you are still stuck largely at home during the pandemic; there are a lot of different ways you can spend your time. From organising your pantry to investing in your own professional development through courses – we all have had to find ways to use our time as productively as we can.

One thing you may not have considered though is how to make money from home using the online world. Working from home is commonplace these days and there are so many amazing methods to make some extra income from your own living room this year.

Today we want to take a look at some of the different ways you can make money online to help you gain some extra income for yourself and your family this year.

Start a blog

It seems that since 2012, every man and his dog has started a blog – and when you realise the opportunities it brings with it you can start to really see why. Blogging is not only a great way to share your thoughts and feelings and the things you love but it is also a simple way to make money. You can earn money through blogging by hosting advertisements on your website, buy posting affiliate links through programmes such as Amazon Partners, and working with brands. It can be a great way to make money doing something creative but you will also be able to go to exclusive events, get access to new products, and meet a lot of people.

Manage a YouTube Channel

YouTube is one of those careers that has taken off incredibly over the last decade and you can create a whole empire at home by sharing your skills and interests on this platform. There are a lot of elements that can go into a YouTube channel such as social media channels and a supporting website – and you can always contact an IT Support Company to help you with the set up and maintenance of these aspects. YouTube allows you to be super creative and you can talk about anything you want.

Create a podcast

Podcasts have become super popular in the last few years and they are on the rise. If you have a story to tell or a passion to share, a podcast is a great way to do this and you can reach a wide audience with your creation. Whether it be cooking tips, wellness, or true crime stories -there are endless ways to make money through a podcast and recording one every week will allow you to start making some passive income in a fun way.

Share your skills

One more way to make money online if you have a professional skill to share is to create online courses on Skillshare. You can create your own course on a subject you are expert in and teach other people about it. It will be a simple way to make some passive income and can really be a useful tool for you this year.