7 Actionable Tips Every Business Should Try

When the news is constantly negative and the world seems down, are you going to take your business down with it? Of course not!

It’s time to rise up and get your business in gear during these difficult times. Get those gears churning and make your business a success in even the toughest of times.

If you’re looking for some inspiration, it’s time for you to look into some of these actionable business tips. Just keep reading.

1. Save, save, save

One of the biggest problems that businesses have is that they don’t have enough cash in the bank for when bad times come. When there’s a slow down in your business or a slow down in the economy in general, you have to be prepared.

Think about this as a savings account.

It’s highly recommended that everyone keep six months’ worth of living in their savings account. This means that you should have at least $3,000 in your savings account if you spend $1,000 a month. This includes all living expenses like rent, food, utilities, gas, and more.

You should have enough in your business’ savings to cover six months of employee pay, supply pay, and more. If you’re not keeping this amount in your business’ account, you need to reevaluate how your business is operating and allocating its expenses.

2. Take care of your great employees

The best thing you can do to keep your business running on a positive note is to take care of your employees. You need to recognize who your most valuable employees are and take care of them as much as you can.

If you continuously take care of your best employees, they’re more likely to work harder and stay longer. Having faithful employees is great, especially when it makes for a great environment for your customers.

The employees that you’re taking care of will appreciate your friendly and encouraging workplace over others they may have worked at. The point in caring for these employees is to make your workplace stand out. Take advantage of your great employees and show them that you care so that you can stand out for making them stand out. 

3. Say goodbye to bad employees

It is never too early to fire a bad employee. While you should understand that giving second chances is okay, you should know when to fire them.

A bad employee isn’t an isolated issue. These are people who are interacting with your business’ customers and other employees. They could be making a bad experience for everyone else.

If you’re finding that one of your employees is building a poor experience for your customers and employees, it’s time to say goodbye.

Before moving on from this idea, we should explore second chances though. It may be useful to have an unspoken system when it comes to disciplinary actions for poor employees.

You may want to give one or two chances for small, isolated incidents. If an employee has blatantly made a customer have a poor experience, you shouldn’t be shy about hiring someone else for that position.

4. Look at yourself before anyone else

If something in your business is consistently going wrong, your probably the reason why. This is why you should always look at yourself before anyone else when it comes to workplace mistakes.

You have a great influence on your workplace, from your leadership style to your workplace rules to even your mood. It’s important to recognize how you could positively and negatively impact your workplace.

Make sure to evaluate yourself before pointing fingers. Even if an employee made a mistake, you should think about how you could have poorly communicated your expectations.

5. Listen to your customers

The customer is always right, at least the majority of the time. They know what they want, and it’s your job to help them get what those things are.

As your business grows, your customers will tell you what they want. Whether it’s through your social media channels or directly to an employee, it’s important to take down any complaints or suggestions.

Make sure that you tell your employees that they should always make a note of what the customers have been saying.

6. Trust your gut

Your gut is normally right when it comes to split-second decisions. Go with your gut.

In business, you’re going to come across a lot of decisions to make. Sometimes, you’re not going to have the time or the energy to get into a full-scale investigation for every question and problem. That’s the perfect time to depend on your gut.

Focus your time and energy on bigger decisions. Let your gut lead you when it feels strongly about something.

7. Keep your business separate

You need to keep your business life separate from your personal life. Keep them separate when it comes to everything.

Your social life will thank you when you’re keeping your work life at work. You shouldn’t be working on work tasks at home, just like you wouldn’t bring your children to work with you every day.

You should also make sure that your personal and business accounts are different. You never want to tap personal money into your business accounts. It’s going to be a tough call to make if your business is ever on the downturn, but you need to make sure that your business is sufficient outside of your personal savings account.

Getting More Business Tips

Getting business tips like these are great for any business person who’s looking for a little bit of inspiration and encouragement. You should always be looking to take in great information like the seven tips we shared in this post. If you have more specific questions to ask, contact us here. We’d love to hear from you and help you with anything you need.

By: Adam Jacobs / Managing Director Bubblegum Casting & Hunter Talent

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How the Average Person Can Actually Start An Online Business

A 2018 study from Bankrate revealed that only 39% of Americans could have enough savings for a $1,000 emergency fund and 44% couldn’t cover a $400 out-of-pocket emergency expense. 

Starting a business can be a difficult task regardless of your financial status, but the degree of difficulty climbs much higher the lower you are on the economic class scale.

Related: The Complete, 12-Step Guide to Starting a Business

If you happen to be an average person, with an average bank account, a normal job, a family to feed and bills eating up a large percentage of your earnings, then the deck is stacked against you. 

Why?

It takes money to make money. Online sales are all about eyeballs. How many people can get you to see and interact with your offers?

I tell my eBook students — “youcan write the best book in the history of the universe, but if no one ever sees it, you’ll never get a sale. On the other hand, you can publish the worst book ever published and with the right marketing techniques and finances to back it, you’ll get some initial sales, at least until you get a few bad reviews.”

If you start your own website, open a Shopify store, sell on Amazon, social media or any other online marketplace, you will be paying for those eyeballsthrough either advertising or fees. Sometimes both. The only potential exception would be those with a large and active social media following.

Long story short — if you are the average person without a legitimate budget, you’re kind of screwed. 

Learn from my mistakes 

Sometimes we all need a reality check. I wish someone would have sat me down and told me this when I was 23 years old because I wasted tens of thousands of dollars on failed online business over the years and it was money that I didn’t have. 

I’ve been the average guy with the average income, the average job and above-average bills. There was a point in my life that my monthly earnings were negative $1,000. I had to get a $20,000 personal loan to plus up my income to pay my bills for a year. 

Honestly, I don’t know what the bank was thinking by giving me that loan, but I’m glad they did because I had seriously considered filing for bankruptcy and if I’m being honest, I probably should have. 

This was one of the worst and most stressful time-periods of my life and if this article can save one person the heartache I went through, it’ll be worth it. 

Move over success 

A few years later, I was supporting US Special Forces as a military contractor in Syria. While I was sleeping in a tent, eating food out of a can and stealing WIFI from a neighboring country, I started an online jobs website for aviation professionals with security clearances interested in deploying to combat zones. 

Related: Need a Business Idea? Here Are 55.

The website itself did become profitable, but it was only a few hundred dollars of profit per month. While it wasn’t a massive win, there wasn’t much like it within the industry. 

The site’s uniqueness along with the targeted audience I was able to build via Facebook advertising piqued the interest of the right people which lead to a single dinner and ended with me consulting with a multimillion-dollar corporation. 

Since then, it’s been all downhill. Sometimes all we need is a single breakthrough. 

If I can do it from a tent in Syria, you can do it from your couch. It didn’t happen overnight though. Here is the process I had to go through to get to that point. 

Overcoming average people obstacles

The mistakes I made that put me in the worst financial position of my life are the same mistakes that many others make on a daily basis. 

If you are in a position where you don’t have expendable income but want to start an online business, read the following advice carefully…

Be realistic

  1. Realize that until you fix your own financial problems, starting a legitimate business will be out of the question. This was a tough realization for me, but I’ve learned that you can have the best business concept in the history of the universe, but if you can’t fund it and do it right, it’ll never succeed.  
  2. Sell everything you can possibly sell. Especially liabilities that have monthly payments. If it wasn’t nailed down, I sold it. I lost money on most everything, but it was worth it in the long run. 
  3. Consolidate debt and cancel all unnecessary subscriptions. This allowed me to lower my monthly obligations, decrease interest rates on certain debts and pay bigger chunks towards the debt. 

Focus on the money

  1. Search for a higher paying job. Often, we underestimate ourselves and what we are capable of accomplishing. Put yourself out there and see what’s available. What’s the worst a potential employer can say, no? This is actually how I ended up in Syria. I was able to more than double my salary by accepting a position that most people wouldn’t touch with a ten-foot pole. I even grew to love the job, but initially, I was simply making a personal sacrifice to achieve a long-term goal. As an entrepreneur, if you are not willing to make sacrifices, you are in the wrong line of work. 
  2. Use a skill, learn a skill or try something new. Stop worrying about starting a business and focus on actually earning money. I was able to earn an additional $1,500 a month by writing content for people’s blogs, creating social media content and writing small informational eBooks. Here is a solid hint. If you want to make money, be willing to do the grunt work. Do the things that people don’t like to do themselves. 

It wasn’t glamorous, but it accelerated my debt pay off. I was able to get most of my business by joining niche forums and Facebook groups. Here is a solid hint – niche forums and Facebook groups are two of the only places on the internet that you can get those eyeballs for free, but you have to be offering something they are actively seeking. 

I actually hadn’t ever done any of the services that I started offering, but with a little practice and learning from people on YouTube, I was able to surpass customers’ expectations.

Related: 5 Steps on How to Start a Business and Get It to Market Quickly

Starting a business and scaling

Once you are out of debt or close to it and have at least $2,000 to invest, it’s time to start your online business. 

Here’s the process I like to follow:

  1. Don’t think major corporations. Rather, start small and build. Use the new skills you learned to earn extra money during your debt payoff phase and start something you know can be profitable. We all have our dream business, but at this point, it’s more important to start something low risk and stable. Learn to be passionate about the process and business in general rather than a specific idea or concept. 
  2. Once you have a steady flow of business, figure out how to outsource using freelancers. Implement processes to take yourself out of the equation to the point that you are simply managing the businesses and dealing with customers. This will allow you to continue earning from the business, but it’ll free you up to work towards your next business. 
  3. Take the earnings from the first business and invest them into your next business concept. Ideally, you will only be investing the profits from business number one into business number two. This will allow you to continue to build your personal savings from your day job while still allowing you to invest in online businesses. 
  4. Rinse and repeat. 

Don’t rush the process. Enjoy the journey. 

Personally, I like to have three to five businesses running at any given time. Two or three of them will be low-end grunt work type businesses that fund my ideal businesses.

The grunt work businesses are profitable because everyone hates to do their own grunt work. It’s the reason people pay to have their houses cleaned and their lawns mowed. 

You can easily and successfully scale without having to invest money earned from your full-time job. This allows you to continue to save and grow financially while you are building something real.

Takeaways

Starting a business can be difficult and is a process that shouldn’t be rushed. 

In reality, it’s a fairly simple process if you are patient. 

  1. Fix yourself
  2. Focus on the money
  3. Start with something low risk
  4. Outsource
  5. Invest earnings into other business concepts
  6. Repeat

In my opinion, this is the one process that gives the average person the best chance of being able to start a successful online business. 

By: Austin Lawson – Entrepreneur Leadership Network Contributor / The Combat Entrepreneur

7 Franchisees Share Lessons from the Pandemic

Survival wasn’t easy – but for these entrepreneurs, there was no alternative.
Jason Feifer and Stephanie Schomer
Magazine Contributor
9 min read

This story appears in the July 2020 issue of Entrepreneur. Subscribe »

Jennifer Perkins, franchisee, Main Squeeze Juice Co.

Taking care of the team

Jennifer Perkins owns two Main Squeeze Juice Co. locations just outside New Orleans with her brother, Andrew Blackwell. When his wife gave birth to twins mid-March, Andrew joined his family in quarantine — and Jennifer found herself navigating a without her partner.

“It’s been really hard,” she says. “Not to mention I haven’t gotten to meet my nieces! But safety is what’s important, more than anything.”

That’s true of their businesses, too. Their juice and smoothie shops have required a dramatic increase in safety precautions, and while foot traffic has dwindled, drive-through purchases have quadrupled. Inside, Perkins is working overtime to keep her staff healthy and comfortable.

Related: 5 Things to Do to Transition Your Business From Partially Closed to Reopened

“A lot of our younger staff’s parents wanted them to quarantine with them, and that makes sense,” she says. “But it did leave us shorthanded, so for the team members who committed to go through this with us, it’s easy to feel overwhelmed.”

As they’ve taken on extra shifts, longer shifts, and the increased pressure of serving items in a pandemic, Perkins has hustled to hire additional support staff and make sure her team members aren’t stretching themselves too thin.

“Sometimes it’s as simple as sending someone home a little early and letting them know that the store will be OK,” she says. “Sometimes it’s making sure our high school employees have the time to take their classes on Zoom and keep up with their schoolwork. Our team has been the backbone of this business, and we’re finding new ways to support each other.”

It has paid off: Sales for the month of April were stronger in 2020 than in 2019.

“I can’t lie and say that any of this was super easy or super planned,” Perkins says. “I had my moments of doubt and panic: Are we doing the right thing? Is this the right way to handle it? But now that we know we’ve come out on top, it’s a super proud moment for our team.”

Regal Patel, franchisee, Pieology

Taking care of your own Town

Owning a pizza shop is all about serving your community. So when the Pieology in Stamford, Conn., closed its dining room in the wake of COVID-19, its owners only got busier.

“We’re not doctors or nurses, but we needed to do something,” says Regal Patel, who owns the location with friends Nishant Patel and Sahil Patel (pictured, from left). “We have pizza, and we have food — let’s keep our community fed.”

The trio and their team (whom they managed to keep employed and busy with delivery and takeout orders) got to work assembling care packages of food and pizzas to distribute throughout the community and to the frontline workers at local hospitals. They started including a roll of toilet paper to deliver a laugh along with the food — and realized that their stock of supplies could be even more impactful than pie.

Related: Why This Family Is Betting Their Future on Franchising

“It’s always safety first at restaurants,” Regal says. “So we contacted our glove supplier and were able to order and donate 6,000 pairs of gloves to a local hospital, and they were just like, ‘Holy Jesus, that’s a lot of gloves for one business to give!’ ”

With pizza sales down and their charitable efforts up, Patel and his co-owners are stretching their wallets thin. “We’re doing this out of our own pocket, and there’s no profit at the right now,” he says.

But as they waited to reopen their dining room, they even doubled down with the brand and launched takeout at a new, second location that was originally put on pause as the pandemic spread. “We know that it will operate differently than restaurants of the past,” Regal says. “But now is the time to adapt and create a new blueprint to serve.”

Patty Clisham, franchisee, Ductz

Maintaining transparency — for staff and customers

Patty Clisham purchased her Ductz franchise — which conducts HVAC restoration and air duct cleaning—in 2007. “And six months later, the went to crap,” she says.

Looking back, she envies the clarity she had at that difficult time. “We could see where that crisis was coming from and why,” Clisham says. “But now, this, this is an unknown adversary.”

And for her business — one that requires sending employees into people’s homes — COVID-19 is an adversary that has changed everything. Clisham used to be booked out for three weeks; now she’s booking week to week. Two months into the pandemic and she’d already lost $60,000 compared with 2019. And the jobs that are coming through require extra care.

Related: Buying a Franchise Post-Pandemic

“We’re disinfecting tools, taking temperatures before a job, wearing masks, wiping down switch plates and doorknobs or anything that we touched,” she says. “We have to make our customers comfortable and share that process with them.”

Clisham has been transparent with her team, as well. She counts herself as one of the lucky business owners who received a loan (she says a good relationship with her bank helped her file for relief as soon as possible, and quickly) and was up front with employees about what the months ahead may look like.

“I sat my guys down and said, ‘Look, we’re not going to have a lot of work,’ ” she says. “ ‘But you’re going to get paid, and I want you to stick with me through this, because when we come out of it, we’ll be OK.’ ”

She knows a lot of other business owners can’t say the same.

“We’re going to make it through this because of the PPP money, I’ll tell you that,” she says. “I tend to have about three months’ worth of payroll and emergency funds set away, but when you don’t have any money coming in from jobs, that will go fast. I’m so thankful we got that relief.”

Meghana Patel, franchisee, Kumon

Lending support, asking for support

Meghana Patel was scheduled to open her first Kumon learning center on April 15 in Valdosta, Ga. But when statewide shelter-in-place orders made it clear that she would not be able to open the doors to her new after-school destination as scheduled, Patel considered hitting pause on the whole operation — until she heard from her would-be customers.

“Parents we had spoken to were panicking, and had expressed interest in maintaining some kind of schedule for their kids,” she says. “So we decided to open up early, on April 1, to help those families.”

Lessons at Kumon — which focus on math and reading for students ages 3 to 18 — quickly shifted to the digital realm as the crisis spread across the country, and Patel, who’d just completed her initial training with the company, found herself seeking support once again.

Related: Why Every Franchise Should Pivot Right Now

“I was nervous; you know, I had never used Zoom before,” Patel says with a laugh. “So to have the company there, ready to walk me through it every single day and have them lay out a plan to conduct lessons that way, really made me comfortable and confident.”

She is still participating in weekly digital training sessions hosted by the company, but as shelter-at-home orders have been lifted in Georgia, Patel is also starting to figure out what in-person classes may look like. “Kumon has sent us all the PPE and hand sanitizers we’ll need. We have a daily sanitation plan in place, and I’m limiting all in-person lessons to just two to five kids, no more,” she says.
But it won’t be business as usual for some time: “Some parents are comfortable coming in for lessons, others are not. But we’re in a position now to accommodate whatever way they and their kids want to learn.”

Mike Ziegenbalg, franchisee, Dream Vacations

Crafting your pitch for the moment

Dream Vacations franchisee Mike Ziegenbalg sells travel — especially cruise bookings — for a living. That seems like a tall order now, when planes look scary and virus-filled ships were the subject of horror-show news stories. Despite all that, Ziegenbalg booked 32 people on a cruise while his customers were locked away at home…and he plans to book a lot more.

His secret: It starts with a foundation he laid seven years ago, when he started a “travel club” in his community. It’s a regular gathering of people with wanderlust, who talk about travel and learn about new destinations. The club has 500 members — and when his home state of Georgia went into lockdown, he decided to keep the club going virtually. “My belief is people want to travel again and are ready,” he says. They need something to look forward to.

The missing piece, therefore, was trust: They needed the confidence that cruising was safe. So he focused on a small cruise in Egypt set for late 2021, and said he’d be going, too. (Translation: The size felt safe, the timing felt right, and his presence means he stands behind his sales pitch.) It worked, and he learned an important lesson: “Don’t just wait for them to call or come to you,” he says. “Clear your mind and come up with new ideas and solutions.”

By: Jason Feifer and Stephanie Schomer Magazine Contributor

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Tracking The Recovery: What Manufacturers Can Learn From One Another

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The recovery from COVID-19 in manufacturing will not be one uniform push. Rather, just as the virus worked its way across the globe, the recovery will be uneven as disparate regions and sectors move toward the next normal.

This won’t make things easy for manufacturers. But the one advantage of a staggered recovery is that it allows you to draw on the insights of regions and sectors that are ahead of you in the cycle. And based on several podcasts I recently recorded with colleagues who advise on manufacturing across the globe, everyone seems to be facing the same key challenges.

Supply and demand

No doubt the biggest disruption that manufacturers have experienced in this crisis are interruptions to their supply chain. When China closed down early on in the pandemic, there was a short spell where manufacturing around the world continued as usual. But then the last container ship left China—and that was that. Manufacturers knew just when supplies would run out. And if you are manufacturing a car, even just one missing part means no car.

So what’s the lesson manufacturers can learn here? That supply chains going forward must be more agile and resilient. Manufacturers now and in the future must have the flexibility to adjust their supply chains in terms of geography, sourcing, and complexity when a crisis hits. This means cost may no longer be the most critical factor when it comes to supply chains. Keeping costs down has its advantages—but not when it means closing a factory down due to a lack of parts.

Being flexible also means having the ability to retrofit production to accommodate changing market demands. The ability to simplify and reduce their product range and cut down on the complexity around the production process was what allowed many manufacturers to keep operating in this crisis. This is especially important given that demand for certain products practically dried up during the early stages of the pandemic while demand for others soared. No one knows when demand as we knew it will bounce back—especially with many economies now in recession.

Health & safety

The well-being of workers is top of mind for all manufacturers right now. While the shift to remote work was highly challenging, figuring out how to keep workers safe who could not work remotely was even more so.

Manufacturers have worked hard to provide PPE for employees who remained on the factory floor. But some manufacturers are being more creative about worker health, coming together to privately fund consortiums that provide a range of health needs, including regular testing. Others have reworked their floor layouts to increase distance between workers. And as more workers return, temperature checks and other personal health safeguards are being deployed.

Digital

Digital will be connected to every aspect of the recovery from COVID-19, from worker safety to reorganizing supply chains. As such, any digital plans and investments in the works pre-pandemic will undoubtedly need to be sped up. And manufacturers who haven’t embarked on the smart factory journey or invested in the connectivity to make it happen will need to start playing catch up.

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But digital is playing an important role in the here and now. Digital has not only enabled remote work, but also the work that has had to stay within a factory. Using technologies such as apps and wearables, employees can be warned if they are straying too close to other workers. Advanced tools for taking temperatures are also helping employers monitor health and keep their staff safe.

Digital technologies—AI, IoT, analytics—are also critical in the near term. With the trajectory of the virus still unknown, businesses will need to rely heavily on forecasting and scenario planning to inform their business strategies. The more data they can gather and analyze, the more complete the picture will be. These technologies can also help manufacturers illuminate supply chains and address complexity.

Workplace

It’s becoming abundantly clear that the workplace will be a much different place post-pandemic. Even as the virus comes under control, it won’t be business as usual. With virtual work now an accepted—or at least expected—mode of working, leaders will need to rethink their workplace strategies. And the changing and uncertain environment will require new skills and roles—especially as the need for forecasting and scenario planning increases.

As operations begin to ramp up, manufacturers need to think about some key questions sooner rather than later. How do you get virtual teams to work together effectively and productively? How does remote work impact your talent and HR policies? How will manufacturers need to reimagine and redesign roles to accommodate changing needs and markets post-crisis? Flexibility will be key in order to optimize productivity and thrive in the new normal.

Recovery

 Recovery is about more than bringing workers back and ramping up production. For many manufacturers, it’s also about finding opportunities. Opportunities to scale innovative processes that worked well at the start of the crisis. Opportunities to leverage digital tools to greater effect—such as the use of scenario planning and remote work. And even opportunities to merge or acquire new entities.

It’s not insensitive to understand the opportunities a crisis presents. As seen in the past, all crises will have their winners and losers. Manufacturers that see how this is an opportunity to assess the future of customer value, their business models, and their capabilities and assets are more likely to be the winners.

Manufacturing post-pandemic

No one, of course, knows when COVID-19 will abate and how markets will react. For right now, uncertainty is the only certainty. That means scenario planning is the mantra of most manufacturers as they prepare for the current and future business cycles.

But overall, there’s consensus that resiliency is more important than anyone realized. Resiliency in this context means the ability to reconfigure your processes and operations and strategies to meet whatever comes next. Because if there’s one thing manufacturers definitely agree on, it’s that this crisis is far from over.

Vincent Rutgers is the Global Industrial Products & Construction (IP&C) Sector leader with Deloitte Touche Tohmatsu Limited (Deloitte Global) and a Consulting partner with Deloitte Northwest Europe based in The Netherlands. The IP&C sector is among the largest in Deloitte’s global portfolio in terms of revenues and covers six segments, including: Aerospace and Defense, Construction companies, Industrial Conglomerates, Industry Products, Heavy Machinery and Equipment, and (Japanese) Trading House clients. Vincent directs a global network of partners and professionals to grow Deloitte’s relationship with strategic clients, delivering the full suite of business solutions and capabilities that Deloitte has to offer.

Prior to joining Deloitte, Vincent worked in various consulting roles for other professional services firms. His distinguished 30+ years of experience includes roles within industry focused on production process optimization for global manufacturing and telecommunications companies including Texas Instruments, Philips and AT&T Network Systems.

Vincent holds an MBA in Marketing from TiasNimbas Business School and a Bachelor in Commerical Engineering from Twente university, both in The Netherlands. He also completed post-graduate courses in marketing management and strategic thinking from Wharton Business School in the United States.

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