All Entries in the "Volume 3, Issue 9" Category

Top 5 Reasons Your Business Needs to Get Organized

Have you recognized that you are stressed, overwhelmed, and paralyzed due to your disorganization? Are you losing time, money, and clients? Are you the type that “clears” a space once a month, thinking you are being productive? Are you wasting precious time searching for documents or important files?

Here are 5 reasons your business needs to get organized.

1. Save money. Have you been so disorganized that you are paying your bills late or paying them late because you can’t find them? Are they buried under mounds of paper? Your credit score drops when you pay bills late and your interest rates will increase. You are wasting money in late fees. Keep paying your bills late and you will eventually have to deal with collection agencies, which will also cost you money.

Do you store your supplies in one area? If not, you will be wasting money purchasing duplicate items you already own. Keep all office supplies itemized and categorized in one area in your office.

If you have piles of papers on your desk and thrown into drawers, I will guarantee that there are cash, checks, and gift cards mixed in those drawers and piles.

2. Reduce Stress. We all have stressful situations that arise in our workday. When you are organized and have systems in place, it is much easier to handle a stressful situation.

Organized people recover quicker than disorganized people when a stressful situation occurs. The disorganized person will waste time and energy searching for files, phone numbers, or that important email and it will take them longer to recover from the situation. The organized person handles the stress because they know where everything is in their office. They handle the stress and go about their day.

3. Enjoy more free time. Time management and organization go hand in hand. Utilize a calendar and keep a running to-do list every day. On Friday, take a look at the week coming up to get an idea of what you have scheduled and where you have to be and make a to-do list from that. Every night before you leave work be sure you have a to-do list for the next day.

Streamline your workflow. There is always a more efficient and productive way to complete a task. Re-evaluate how you are functioning and streamline your procedures.

4. More energy. When you consume yourself with clutter and disorganization, your mind will be cluttered too, which will weigh on you mentally. Clear the mental clutter and you will feel much lighter.

5. Your clients will have more confidence in you. We all know the saying, “You never get a second chance to make a first impression.” Picture this scenario: You have a potential client visiting your office for the first time. You have paperwork, business cards, files, etc. all over your desk. Your bulletin board is full of clutter. You are working off piles on the floor and even worse, you struggle to search for something when your potential client is in your office. Your clients are going to wonder if you will misplace their important information. They are praying that their information isn’t going to get mixed in another client’s file. They are going to wonder how efficient and productive you are and if you are distracted by your disorganization.
What is holding you back from getting organized? Get out of your comfort zone and be open to change. There are so many great opportunities out there that you may be missing out on. Make that change, get organized and reap the benefits.

The Perils of Being Star-Struck−Your POWER to Communicate

On a beautiful afternoon, she was waiting for a valet driver to bring her car back. Then, her eyes met his.She recognized him almost immediately. Her heart skipped a beat. She had been watching this man hostTV shows on and off for years!

Once that realization enveloped her, she did what most humans do and that was to immediately turn away. “OMG…it’s HIM! And he’s only 15 feet away!” Then another realization came her way. Themoment her eyes diverted from his, he actually said, “Hello.”

So, she caught her breath and decided to return the greeting. As she straightened her posture andturned to say “Hi,” she realized that her window of opportunity to engage this gentleman was gone. Now, he had turned away.

And her car arrived.

In a way, she was relieved. So, she whisked past his 6’4″ frame, hopped into her car and drove home.

5 seconds into the ride, regret had set in. She lost her opportunity to share greetings and a moment intime…with Conan O’Brien.

If she knew then what she knows now, here is what she would have done differently:Before she got into her car, she would have tapped him on the shoulder and said, “You look familiar, didwe go to high school together?” Then she would have smiled, shaken his hand, welcomed him to the Rhode Island shoreline, and told him to enjoy his time at the ocean.

Plus, her story would have been so much richer! Perhaps she could have even asked him if he wanted totake a selfie with her! LOL…HIS camera, of course!

This was a moment that BOTH could have enjoyed and benefitted from. Stars must encounter the star-
struck all the time, but how often do they encounter great communicators−people who can see past thewealth and fame and their own nervousness to understand the value of human connection; the value of someone being vulnerable enough to break through so they could have a breakthrough moment! It was easy for her to blame her inaction on her made up story that Conan wanted his privacy. Thinking back, I bet he would have appreciated her effort. It would have been authentic and refreshing and fun!

So the next time YOU’RE star-struck (by the rich, the famous or THE BOSS, or even A PROSPECT!), remember that they’re just people. If you’d like to make more memories, build stronger relationships (that can often lead to sales!) and have fewer regrets, you might want to consider becoming BOLDER in your communication!

Remember, the most effective communicators place themselves on a level playing field with theiraudiences. They don’t talk down to them, nor do they place them on a pedestal. They understand that:

1. They are subject matter experts.

2. Their most important job is to create conditions where communication can flow.

3. They know that every audience is different; some are more open than others.

4. And they understand that there’s a great benefit to being both well prepared and occasionally vulnerable.

Being confident in your communications is the key! As we know, becoming confident at anything takes attention, time and practice. So if you’re preparing for an important presentation, give it time. I also suggest you prepare for the unexpected—have a few phrases in your back pocket so the next time you encounter a star, you’ll remember they’re just people. People will appreciate your effort and remember you fondly for your stellar communication skills!

Minding Your Own Brand: Why can’t I get that with whipped cream?

A few years ago, some friends and I were on our yearly trip to Nantucket. According to ritual, we stopped by our favorite ice cream shop as soon as we got off the boat. My friend asked for whipped cream on his small cup of chocolate ice cream. The clerk proceeded to tell him that whipped cream only comes with sundaes. Thinking it was a cost issue, he offered to pay the extra twenty-five cents that they charge to put candy on a cup of ice cream, which he felt would surely cover the cost of a squirt of whipped cream. The clerk refused the offer saying that was the only the “candy charge” and there is no way to charge him for just whipped cream. She went on to say, “The shop policy is that whipped cream can only be put on sundaes.” So in order to get whipped cream, he would have to order a sundae with no hot fudge, no nuts and no cherry.

He settled for his chocolate ice cream without the added calories, but for the rest of the weekend weall had to listen as he told the entire island (or at least the half that would listen) how ridiculous this policy was. Needless to say, we did not pay a visit to that shop on our way back to the boat, and it wasn’t our first stop on the island the next year.

Small things can turn a basic interaction into an extraordinary customer experience or a massive disappointment. This story illustrates how a too restrictive policy hurt the clerk’s chance to be extraordinary and ruined any chance of maintaining my friend as an advocate. All too often businesses that claim to be creating better and more standardized customer experiences end up micromanaging their way out of customer loyalty by creating inflexible rules and policies.

Honestly, I don’t know why the “no whipped cream” policy was in effect. Maybe it had something to do with inventory control, maybe the clerk didn’t know how to ring it up because it was not a standard sale, or maybe the manager emphasized during training to only put whipped cream on sundaes. Whatever the reason, the clerk didn’t feel empowered to solve the problem and create an extraordinary customer experience, and, therefore, the policy hurt long-term customer loyalty.

Instead of trying to create specific rules that dictate how employees should act in all situations, small businesses must instead examine all aspects of their business and define broader goals and values that guide the organization. The small business can then put employees in control of living up to these broader guidelines and encourage their staff to be responsible for determining what is adding to or subtracting from the customer experience and act accordingly.

The customer is NOT always right, but if you want to retain a loyal patron, you need to do everything you can to ensure that they have an extraordinary experience each and every time they are with you. By outlining the broader goals and values for the organization to follow, the employees are able to interact with the customer in a way that seems right for the situation, instead of going through a predefined set of motions that does not fit the situation and will never result in a positive outcome.

Seller Beware

No matter what industry you’re in, small business owners always have one thing in common: they like to do things themselves. If you can train yourself to build it, fix it, whatever, you can save money, and saving money is paramount.

So what to do when entering the murky waters of credit card processing? Credit cards have become a necessary evil these days, and most businesses simply cannot afford to not accept them. But who’s going to give you the best deal? Who’s going to be honest with you? Tell you about the fine print? The short answer is: educate yourself. For as much as we like to do on our own, we are woefully ignorant of how this whole credit card thing works. For most of us, it’s as simple as setting up a machine, swiping a card, and waiting until our statement to see how much money we owe our credit card company. It doesn’t have to be this way. Take some time to learn how the industry works, because it has a big effect on your business! Call your contact person at your processing company and get your questions answered.

In the meantime, here are a few pointers for those new to the credit card game, and those who are considering switching processing companies. (Note: This article assumes the most common “Interchange Plus Pricing” model. There are others like tiered and fixed models, which are almost always a bad idea, but depending on your business, they may be worth familiarizing yourself with.)

First Timers

Contract Terms

I cannot stress this enough, this is the most important thing to talk about. Contracts range from a year to infinity, so make sure you know what you’re getting into. What is the contract term and are you comfortable with it? This is especially important if you’re used to constantly changing vendors to ensure the best price. The credit card processing industry is designed to discourage this behavior. Early termination fees (ETFs) range from around $100 to as much as $500. Make sure you know how much your ETF is, and if it’s prorated yearly. If so, sometimes sticking it out for an extra month or two can save a big chunk of money when switching companies. Remember, if you can’t afford to get out of business with someone, you can’t afford to go into business with them, period.

Cost/Value

There are essentially only two or three things you should be paying for with a credit card processing company. They are going to charge you a percentage of your credit card sales, called interchange fees. Now, while this might seem insane, it’s standard practice. All major cards charge a percentage, so the processing companies do as well. Look for the lowest rate you can find. Every sales rep will tell you, “I can save you money.” Super. Find out where it’s coming from, because there’s only so much wiggle room (Visa, MasterCard, etc. set these rates). You’re not really saving a hundred bucks a month if they’ve got a separate line item charge for snake oil.

There is a fee per each swipe of a credit card through your machine. I own a pizza place, and we have a lot of $2-$5 transactions. This is a deal breaker for me. Fees can vary from 10¢ to as high as 25¢ per swipe. If you’re doing a smaller number of transactions and higher ticket totals, this may not be a big deal. However, if you are doing a lot of transactions, this can add up quickly. Be careful you’re not robbing Peter on the monthly percentage, to pay Paul with the swipe fees. And sales reps know what type of place they’re walking into. They know you might be so bedazzled by their low percentages that you won’t even think to ask about the fee per swipe. Trust me; they won’t go out of their way to bring it to your attention.

Lastly, there is going to be a flat monthly fee to use their service. This does include legitimate costs, but this is also how they make money, and at $25-$40 a month, it is usually built into their business model. If it’s at the high end of that or higher, it’s time to start asking some specifics about what those fees are for!

Extras

Lots of companies are offering really neat stuff, from mobile card swiping to gift cards and beyond. Before you sign on, think about services you may want to take advantage of (even if it’s down the road) and find out prices now. Get them in writing and find out how long those prices are valid for. Say you want to do gift cards down the road. If you wait until six months from now to find out the prices and they are astronomical, you will already be knee-deep in your contract with them.

Are they offering you other cool stuff? Additional machines? Mobile machines? Is there a separate company handling the lease? I can’t tell you not to get involved with a 3rd party leasing company… but don’t get involved with a 3rd party leasing company. It’s always cheaper to buy this equipment on your own, if you even need it in the first place. And if you get into an equipment lease, you’re still on the hook for that even if you cancel service with your processing company.

What to look for when switching

Often, companies will pay all or part of your early termination fees if/when you switch to them. Be sure to ask. Find out what you have to do to get that money once you’ve switched and how long it will take, and get it in writing!

You may experience a change in service. Try to think about all the aspects of your current service that affect your day-to-day business. For instance, with one company you may get your money the next day, while another might take 48 hours. Address these concerns with your rep before you sign.

Again, you may end up saving money in one area, but be surprised by additional charges in another. Sit down and go over their fee structure and make sure you’re comfortable with it. Do your due diligence and make sure what they are saying matches what’s on paper, because at the end of the day, the only thing that matters is what’s in black and white.