If you are thinking about selling your business in the short term, there are some areas you can improve now that will increase the value of your company to potential buyers. Here are three of the most common things a business owner can do right away.
What’s Included in Business Employee Documentation, and Why?
The most important way to set your business up for success is to create a plan and document it. This theory also applies for your employee population. The most important thing to do prior to bringing employees onboard to your business is to document how the business will hire and policies for the employees to follow. Depending on the number of employee the business will have, there are also policies that the business is required to have. Even if you’re a solopreneur or operate a business with yourself and an office administrator, a clear job description, policies and procedures will streamline the business making every action you take more effective
Learn how to set up and run your payroll.
Running payroll for the first time can be a bit scary, and keeping up with Federal and State regulations changes can be overwhelming. First step is to learn what information is needed to set up Payroll and what to collect from employees and tax department. This article will assist with the proper steps on how to set up your payroll and how to run your payroll.
Additional Human Resources Items to Have On Your Radar
You will need to register and gather some information in order successfully set up your payroll. It’s always important to also have your HR in place, employee application, employee hand book, job description and responsibilities to mention a few. Today we will focus on the basics of what you need to set up your company’s payroll.
Why Is It Important to Have a Great Business Website?
Your business website:
- Is the first impression many people get of your business.
- Gives the best, most visible presentation of your business, the way YOU want people to understand it.
- Helps you articulate your mission, message, intention and strategy – keeps you organized and focused.
- Educates your
- Prepares all of the above to take action favorable to your business health and growth
- Is your voice and presence where you are not physically present.
If you don’t have a great business website, you’re not doing all of the above as effectively as you would if you had a great, currently updated, professional business website.
Sales and marketing drive business success, and having a strong marketing message when key sales opportunities arise translates into accelerated business growth. The problem: Not knowing what to say in the moment that a key sales opportunity arises.
Top 10 Key Marketing Opportunities Lost or Underutilized
- Business mission statement.
- Description of business services.
- Elevator speech opportunity.
- Elevator speech follow-up
- Networking opportunity.
- Opportunity to acquire the first client interview.
- Low risk introductory offer.
- Conducting the first client interview.
- Client upsell opportunities
- Client de-briefing (review value, get testimonial, get referrals)
Knowing What to Say Helps You Seize the Moment
Imagine, if you knew what to say in these instances, how this would help you maximize these opportunities and increase your business. Create and master template messages for each of the above marketing opportunities.
Regularly review your key marketing messages:
Many things change over time:
- The market
- Your business
- Your own interests
- The relevance of your products and services
A new business should review these key messages every 6 months. An established business should review these key messages at least once each year.
Don’t Begin the Journey with a False Start
When one becomes of age to find a place to participate within the culture and society you find the overwhelming obstacle of choice. It’s a jungle out there, where do I fit in? What do I do? But jungles have great treasures and hidden secrets. There are lost riches, resources and discoveries. So, the first stage is not to be an employee. The first stage is not to Work for someone else, learning from that employer so one day you can be an employer. That’s Stage 2.
Poor Phone Skills Can Seriously Damage Business Profitability
Did you ever experience a phone call go bad, and you didn’t know why? You couldn’t recall anything negative you said, but you received a negative result? Perhaps the person on the other end of the line decided not to schedule a meeting with you, or not to buy a product or service, or they didn’t seem to trust your opinion, or they asked to speak to someone else. You ended up feeling rejected or incompetent, or just decided you were having a bad day. It was all made worse when someone else spoke to the same person and got a positive result, even though they used the same argument, even the same words!
Put the Odds in Your Favor
Many business owners are surprised at the level of activity and demand required to start a new business. Without some basic elements in your favor, you’ll be running a hard up-hill race with many obstacles. The good news is that with a little preliminary thought your can arrange the odds in your favor. How to do this?
Why Is It Important to Define Your Corporate Culture?
Have you had an employee quit, and when asked why they are leaving their answer is “better opportunity”, “more money”, or “I found something better”. I am here to tell you that 90% of those employees left because of you and your company’s culture (or lack of culture). As we discussed in our previous article, turnover is a company’s largest hidden expense. Not defining, and living your culture daily, is killing your bottom line.