Do you use CRM (Customer Relationship Management) software? If not, you could be fighting an uphill battle. There are so many things a good CRM can do for your business that it’s almost detrimental to pass it up.
Many small businesses will admit to having “that spreadsheet with some of their clients’ contact info or order history,” but this is not a scalable, reliable, or useful system compared to what’s available. A good CRM software will be customizable to your sales process (or focused on your niche, like auto sales or medical office) and help facilitate the organization and flow of your business processes.
Here are some of the things a good CRM software will do for you:
The type of financing you need depends on what type of legal structure your new business will have, as well as the capital requirements at different stages of your venture. The most common sources are outlined below. Remember that no matter what entity you choose or where you get your start-up capital, maintain separate and thorough records for your business transactions and keep a separate bank account in the business name.
Personal Savings
Hands-down, the easiest way to finance a business is to use your own money. Make sure to complete appropriate paperwork that recognizes your investment in your company – a separate entity, to protect the Read more…
This topic usually breaks entrepreneurs into two categories: those who had a name picked out from the start, and those who have no idea. If you’re one of the creative ones with a name already chosen, there are a few things to check before going forward with it. Most importantly, has anyone registered a trademark to conduct similar business in the U.S.?
There are two ways to unofficially check: 1) search the Internet for the company name to see if anyone is using it, and 2) search the trademark database online: click here, click on “New User Form Search” and type in your idea for a name. If anyone has registered that name (not counting pending applications), you can see this information in the Read more…
While sole proprietorships and general partnerships are the easiest legal structures to set up, they don’t provide any personal asset protection like C-Corps, S-Corps, LLCs, and Limited Partnerships. The idea of starting a business that can put 100% of your personal assets at risk is not a smart one.
There are volumes of books about choosing the right entity, but from my experience, LLC’s and S-Corps are the most multi-purpose for the startup. S-Corps have the advantage of easily morphing into C-Corps if you’re thinking about eventually going that route. They require more Read more…
Since it’s the new year, I know a lot of you are thinking about finally getting that dream business on its feet. Many people I’ve talked to about their business are astounded when I tell them how easy it is to set up their own Limited Liability Company here in Oregon. There are many advantages to registering as an LLC compared to a simple sole proprietorship or general partnership, including liability protection and tax benefits. I am not a lawyer, and this cannot be considered legal advice, but here is how to set up your Oregon LLC:
1) Google your business name – just check out what comes up if you type your desired business name into a search engine. If someone is already using the same name, not only would it Read more…
People are inherently lazy. Especially internet users. They’d much rather put off until tomorrow (or next decade) what they could easily do today. Your website’s job is to motivate them to overcome their lazy programming and actually DO SOMETHING today.
Creating an effective call to action is necessary to get your visitors to take the next step – contacting you, signing up for your newsletter, buying your product, etc. There are a few main techniques to achieve this, and I will detail them below:
Make your offer timely.
By putting a time limit on your offer, it encourages your audience to take action or they could miss out. By saying ‘This Weekend Only!’ or another relevant time constraint, you’ll receive a much better Read more…
Having a website for your business is not an option – it is a necessity.Everyone knows that having a sharp website is good for business, but most people don’t really know why. In this article I’ll offer several reasons why they are vital to reaching your potential.
1) Credibility. Today, everything is online, and to even keep up in your industry, you need a website. When a customer types your name into their favorite search engine, they expect your professional website to come up. If that’s not the case, they second guess doing business with you. Read more…
Promoting your business during tough times is easier than you think. In my last post, I addressed a few case studies and principles of businesses that came out of tough times ahead of their competition by continuing and even increasing their advertising exposure. Today, I’m going to give you some specific examples of how you can apply this to your own business.
A recession is a perfect time to consolidate, refocus and become more efficient across all aspects of your business. Running leaner is a necessity for survival, but that doesn’t specifically mean budget cuts, it means finding out what’s working and what isn’t, dropping what isn’t working and pursuing what is.
1. Survey your customers.
Find out how your customers Read more…
Recession hits your business. Now what?
Since it’s the topic on everyone’s mind right now, I’d like to spend a little time debunking rumors, stating truths, and, true to the mission of this blog, helping businesses grow efficiently, even in tough times.
Picture this scenario (it might be easy because it might be happening to you right now) – you’re running a business during an economic recession (or even depression). Sales slows, so you are forced to make some budget cuts. You’d rather not fire employees if you don’t have to, but a few of the new guys get a pink slip, bonuses disappear, the new arm of the business, currently netting a loss gets put on hold indefinitely, and, since customers aren’t coming in anyway, you Read more…