There are so many things running through your mind: goals, strategy, how to organize your processes and increase revenue, how to cut potential losses. Although there is no one universal “right” way to own a small business, there are definitely some great examples out there that will inspire you. Let’s look at a few success stories in the world of small companies.

• What are the types of small businesses?
• 15 examples of small businesses
• How to choose a small enterprise to run?
• How to start a small business?
• Small company, great expectations

What are the types of small businesses?

A small business is a pretty general term – there are so many structures, colors, and flavors to them. The most popular kinds, however, are the following:

• Sole proprietorships are an example of ordinary small businesses. They are owned by single individuals who are liable for all business transactions, debts, and lawsuits, unlike LLCs, which protect owners from some legal complications;
• Partnerships, also one of the most popular types of small businesses, are run by two or more individuals who are liable for the financial and legal aspects of all their business operations;
• Incorporated companies: this example is registered with a state to become separate legal entities, independent from its owners and shareholders. This is a significant legal distinction since, in the eyes of the law, an incorporated corporation practically becomes a different “person”. Limited liability is provided to the owners of corporations, and in the event of an owner’s passing, the corporation continues to exist.

15 examples of small businesses

After a thorough analysis of the popular fields in small business, we have come up with a few examples of small businesses for you:

Professional, scientific, and technical services

What is it? This sector includes a great variety of services. Scientists, lawyers, engineers, and a good number of people with STEM degrees reside within this industry. It also includes advertising, specialized design services, tax preparation, and more.
Why is this field popular? The popularity of this sector is directly related to the number of essential industries and niches it encompasses. Scientists and labs are greatly sponsored by the government and private organizations, ensuring that there are workspaces within several scientific fields. The crimes always get committed, and tax forms always get issued, hence the constant need for lawyers and tax advisers. Industries keep growing and require engineers to optimize processes and increase gains, and everything that has been made needs a design, hence the need for specialized design services.
How do you start? Once you have a specialization within one of the niches in this sector, you need to find a good location, one of the larger cities, preferably. If you are currently working for a university, research how much time your contract allows you to spend on your personal business, and whether this branching out will cause a conflict of interest in this small firm example.

Construction

What is it? New construction, additions, alterations, maintenance, and repairs are all included in the construction sector. The companies in this field are typically hired to perform work on a contract: buildings, bridges, or new highways—all these fields are potential niches for your small firm.
Why is this field popular? The constant growth of the human population, as well as the natural decay of existing structures, ensures the need for more workers. This is one of the most common small businesses that requires a large number of people to complete the job, so it has a large number of workplaces.
How do you start? Decide on your specialty: are you better at transporting construction materials, doing the facades, or industrials? Residential, commercial, or both? Research the areas that are most in need of your services. Get familiar with the local establishments, and check whether there are any professional communities that are helping beginners. Based on the location and state, obtain the required licenses and permits you need, gather the funds, and make sure you are prepared to handle the contracts as a local small business.

Real estate & rental and leasing

What is it? This field is all about renting and leasing assets, both tangible and intangible. That means not only property rent and leasing are included, but also patents and trademarks (but not copyrights). This field also includes handling other people’s rent, such as real estate agencies that represent both property owners and buyers. This means: equity real estate investment trusts, rental and leasing of motor vehicles, computers, and consumer goods.
Why is this field popular? Leasing and renting property is always in high demand. You may only want a jetski for the weekend by the lake; a lot of things are only needed for a short period of time, especially in tourist areas. And trademarks are included in almost every major brand out there, coming and going as the companies are passed on or sold.
How do you start? Identify your area of expertise, perform the research, and acquire something you believe will sell well. You will spend a lot of time communicating with your customers; this business is all about being good with people. Estimate the budgets: how big will your sales team be, how much will you need to invest in your project, and how much will a professional phone system cost?

Administrative, support, and waste management

What is it? This industry sector includes large and small companies that support other establishments. This could be anything from security to HR services. Waste disposal, solicitation, office administration, paperwork, cleaning, and surveillance are all included in the Administrative, Support, and Waste Management sector.
Why is this field popular? What franchise doesn’t have paperwork? How quickly will an office become a health hazard without cleaning? Where will the waste from your community go if no one collects it? How does a store function without surveillance? These are just a few rhetorical questions that emphasize the important role administrative, support, and waste management companies play in our society.
How do you start? Choose the specialty you feel comfortable with for this common type of small business and decide whether you can handle it on your own or whether you need a team. Solopreneurship is easier to manage, but multiple people will bring in more profit. Figure out the state and city/town where you would like to become a small business entrepreneur. Larger cities will always have more need for cleaning services than small towns. Take into consideration the licenses and their costs, as well as equipment and tax.

Transportation and warehousing

What is it? The transportation and warehousing sector is all about equipment and support activities related to the modes of transportation by air, rail, water, road, and pipelines. Warehouses are included, as they are considered to be transportation-related facilities.
Why is this field popular? The travel industry is booming once again due to both internal and external tourism. And not just travel—the moving and storage services for all the families and college students, cargo, cruises—they make up so much of American society that it would be impossible to imagine life without them. Regardless of the economic situation, there will always be a need to transport materials or people across the country.
How do you start? Uber was a small transportation startup at some point. It was so successful because it identified a need and managed to successfully fulfill it. Maersk started out as a small family business, and now it is one of the largest and most successful cargo companies in the world. Although your goals may not be as ambitious, looking at how they found their niches may be good inspiration for a local business.

Retail trade

What is it? Store and nonstore retailers make up the most popular small businesses in the retail trade sector. The store retailers operate at fixed locations, like the bike shop down the block, while the nonstore retailers sell their goods via online or portable methods, such as door-to-door solicitation or e-commerce. Nonstore retail also includes vending machine distribution.
Why is this field popular? This is one of the oldest business types if you are interested in being a small business entrepreneur. Selling and reselling goods is highly valued in today’s consumer society, and while many trends come and go, this segment is not going away anytime soon.
How do you start? Identifying the needs of your community is a good start to launching a small business. Take a few days for observation: do you see people who jog at the park looking around in search of where they can buy a water bottle? Is the nearest bike shop miles and miles away? Are there always hungry college students in your town who struggle to get food after everything is closed? After that, all you need to do is make a strategy and launch.

Health care and social assistance

What is it? The health care and social assistance industry includes a diverse range of options for popular small businesses from test centers to private clinics. If you have a medical degree, this small business fits you perfectly. This field is people-intensive and high-risk, but it also holds one of the most important roles in society.
Why is this field popular? People will always need health care, and now there is a virtual niche in the field. Accessibility, low costs, and high demand all make virtual medicine a steady income and a prospective field in the industry. Social assistance is a slightly different example of a business in the field, focusing on the caretaking part of healthcare. Whatever your choice is, chances are there will be demand.
How do you start? You would usually be starting with a medical degree, or at least with getting familiar with the medical field if you have medical professionals on your team. If the market location you are about to enter is saturated already, it’s possible that you’ll have to work significantly harder to gain a foothold. Once you do, however, you will have a chance to build a loyal customer base.

Arts, entertainment, and recreation

What is it? A diverse variety of enterprises that manage facilities or provide services to cater to their consumers’ diverse cultural, entertainment, and recreational interests. Performing arts, education, gambling, museums, and spectator sports are all mixed within this sector. Anything that people enjoy for entertainment is a good description: musicians, actors, fitness trainers, amusement attendants, etc.
Why is this field popular? Watching a movie after work, going to a concert with your friends, taking your family to a museum. It is tough to find an American who does not occasionally enjoy at least one of these things. The expression “bread and circuses” may have originated in the Roman Empire, but the concept is as old as humanity, and it is not going anywhere.
How do you start? Netflix was started by an idea to rent DVDs by mail, which turned out to be a success that shaped the movie industry we know today. A unique sample, sure, but there are smaller businesses in the entertainment industry that are also doing well. The key to becoming this small business owner is doing what you love and finding a way to market it to the right audience via research.

Accommodation and food services

What is it? Anything that includes lodging and/or food for immediate consumption is part of this small business example. Fast food, restaurants, hotels, motels, and all their personnel. Food and lodging are often together, thus they are often discussed as one segment.
Why is this field popular? Without accommodation and food services, tourism would cease to exist, and leaving your house would become far less enjoyable. No Starbucks, no Wendy’s, Waffle House gone. Visiting new locations and small business enterprises while eating new foods is one of the most joyous activities humans take part in.
How do you start? Bed and breakfast, a cute cafe, catering, or hostel business owner: you will need to make your choice. The good thing is that research will be especially fun within this segment: you can go and scout your competitors’ locations. Try their food, look at their places, and meet new people. Then take account of all the things you like about these small businesses in the USA and come up with a plan of your own. Gather resources, set deadlines, and start working towards your dream.

Finance and insurance

What is it? Financial intermediation via asset sales and acquisitions, fee collection, insurance premiums, or annuity considerations and their investment. Financial managers, chief executives, personal finance advisers, analysts—all those people and many others make up the foundation of the financial segment.
Why is this field popular? Finance is involved in everything today, and insurance is just another financial tool. The financial system is crucial to the economy. It facilitates the flow of funds between savers and borrowers, ensuring that financial resources are allocated properly to promote economic growth and development. Medical, construction, transportation: it does not matter which industry you name, finances and insurance are a part of it.
How do you start? This is a popular small business that requires a university degree at the higher levels, especially if you are planning to go into banking. Bachelor’s degrees should be enough for most positions, though. If you want to start a small firm in this field, you will absolutely need experience and legal assistance. Working with money implies great responsibilities, and you will need to make sure you are thoroughly prepared prior to offering your services.

Educational services

What is it? Profit and nonprofit schools, courses, training centers, and universities —all of these are included in the examples of a small company for this segment. Organizations that have teaching and education as their goal could be online, in person, pre-recorded, on TV, etc.
Why is this field popular? Education shapes society, allows you to switch fields and obtain higher qualifications, and improves a country’s quality of life. We start learning from the day we are born, and many continue until their dying day. Just the global EdTech market is projected to grow annually by 19.9% from 2021 to 2028, showing the increasing interest and investment in the segment.
How do you start? This is a lucrative small business field. Would you like to work on upgrading a school’s technology, do you want to start online courses, or are you after the ambitious goal of creating an education center? Narrowing it down will provide you with a clearer business plan. Some fields will demand a license; others, like some online courses, will not. Online courses are the easier way to start, and they require fewer financial investments.

Wholesale trade

What is it? Wholesale trade, as one of the examples of a local business or a larger enterprise, is all about selling and reselling raw and unprocessed products in bulk, such as in agriculture, mining, manufacturing, and some information companies, like publishing. This field also includes transportation, buying, scientific input, moving, and more.
Why is this field popular? Raw materials are in demand, be it recycled plastic that can be used to create new items or clay. The wholesale trade is the link between manufacturers and retailers. Wholesale traders have a lot of influence on market pricing and planning.
How do you start? You will need to know what you are buying and selling to grow your small business. Ideally, it will have to be something that is not yet on the market but will be in high demand. Check if you have any special connections or if there is something only you can deliver to your community. Or do you simply want to be on the scientific side of it, probing the materials? Once you’ve got your place in the wholesale trade chain, focus on the equipment you will need so you can start offering your services in this small enterprise example.

Manufacturing

What is it? This is the next step after the wholesale trade segment. The manufacturing sector is just that: materials, substances, or components are mechanically, physically, or chemically transformed into new products. The scale of the facility varies: a home, a factory, a mill.
Why is this field popular? Quality products are a must for a functional society. Even if it is not about creating original products, taking and fulfilling orders from other companies is also a popular option. Manufacturing is a crucial component of the American economy since almost all the items in use have been manufactured by someone.
How do you start? This is typically something that you have already done if you are planning to start a common small business in this segment. You could also get a loan and purchase a local business from someone else. If you are looking for a way to have everything ready in a shorter period of time, it might be an exciting journey. But before you go all out and buy a mill in New Zealand, make sure you have all the information you can about it to avoid problems.

Information

What is it? Small companies in this field are made up of information processing services, producing and sharing information and cultural elements, as well as providing the means to transmit or distribute these products. This field includes customer service representatives, telecommunications equipment installers, and repairers (with the exception of line installation). This segment is mostly dominated by private industries, but local, state, and federal governments are also involved.
Why is this field popular? There is just so much data. Information keeps flowing as the internet grows, and there is a constant need for more people to manage it. There is also a need for operators who can take care of the equipment.
How do you start? You will require a solid background in this popular business industry. There are many online courses available; some are free, but it is critical that they are up-to-date and taught by professionals, as competence will be essential. Finding clientele should be rather simple due to the demand, but retaining it and keeping everything in check will be a more challenging task that will demand time and stress management.

Agriculture, forestry, fishing, and hunting

What is it? Hunting and gathering, in essence. This small business sector focuses on cultivating crops, rearing animals, harvesting timber, and capturing fish and other lifeforms from a farm, ranch, or their natural environments. If you own a greenhouse, a hatchery, an orchard, or a nursery, you are a part of this segment. Truck and tractor drivers, farmworkers, and logging equipment workers would also be included.
Why is this field popular? This is one of humanity’s most important fields, as well as one of its oldest. Producing food is not an option, it is an absolute necessity. That is why, for as long as this country exists, there will always be jobs in the agriculture, forestry, fishing, and hunting segment.
How do you start? This is a high-risk and high-responsibility field; going into it will take a lot of effort and will definitely pay off once everything works out. Assessing potential risks and necessary investments is a good place to start, and you can certainly start small. You will need to get a variety of licenses and pass a few checks before you are allowed to grow beyond the level of an ordinary small business.

How to choose a small enterprise to run?

Now that we have looked at a few potential small business examples, we should talk about your own. Only something that comes from your heart and is truly unique to you will provide you and the world with a product that will last. Creating a small business enterprise is not just about monetary gain or ambitions; it is about giving birth to something new that will have the power to impact the lives and society it interacts with.

There are a few questions you should ask yourself if you are set on becoming a business owner:

1. Have you assessed your skills and resources?
2. Do you have a clear vision of your product, do you absolutely love it?
3. Does your vision match the practical reality given your resources?
4. Do you have a financial plan and entrepreneurial funding?
5. Have you analyzed the market, is there a demand for your services?
6. Do you have a clear marketing strategy?
7. Will your business structure be able to handle a large volume of clients and orders?
8. Do you have a few backup plans to keep going and growing?

How to start a small business?

The algorithm of action will be different depending on the small business idea you go with, but some steps will be universal:

1. Ensure that your organization falls within your area of expertise. That way, you will not have to frantically search for answers when it comes to running the firm;
2. Get the support you need. Having the people who support you and the finances to rely on can make or break your small organization. It is always better to have a backup;
3. Set the expectations. You will not reach your goal if you do not know what it is. Define the desired outcome, preferably with clear and precise KPIs;
4. Do the SWOT analysis. While making your business plan, write out and define the Strengths, Opportunities, Weaknesses, and Threats for your SMB;
5. Software. Choose the software. Will your team work in the Google ecosystem, or do you have a different cloud service in mind? How will you keep track of tasks, budgets, and KPIs? How will you handle professional communication, so you can have proper work hours, voicemail, an auto attendant, etc?
6. Workspace. Set up a workspace where you will not be disturbed while you are taking care of your small business startup. It can be a room, an office space, or a coffee table in your garden—as long as you get things done with minimal interruption;
7. Legal aspects. One of the most important things to do for any company is to ensure that you are operating within the legal frame, that all fees and taxes are paid, and that in no way you are violating the law.

Small company, great expectations

There’s a common theme in each small company example: you are selling something you have expertise in. It does not matter what the field is as much as the passion, planning, and execution. The top smb’s in all fields are making excellent revenues, so do not choose based on the numbers, start with what you love.
It will take hard work and long nights. You might have to wait a year or two before you reach stability with any of the examples of small business, but that is completely natural. The secret behind most success stories is motivation and persistence. You have what it takes, now it’s time to start your journey and make a difference with your entrepreneurship.

The post 15 Small Business Examples: Most Popular Ways to be a Successful Entrepreneur first appeared on MightyCall.

According to a HubSpot report, 35% of sales leaders track the use of tools for sales as a productivity metric. For them, the best sales tools to have in their arsenal are those that automate the sales pipeline and increase the odds of success without costing a lot of money or time.

If you’re wondering how not to get lost in all the market has to offer and choose the right option for your company, we’ll walk you through the seven types of tools for sales you must know in 2024, so you can determine which ones would be the most beneficial to your company’s long-term goals and growth.

Navigate:

• What are sales tools?
• Importance of sales tools
• How to choose sales tools
• Sales tools you should know 
• Integration strategies: a simplified guide
• Get the best sales tools for your business now 

What are sales tools?

Sales tools are applications and digital tools built for and used by sales professionals to optimize their work and help them succeed with their goals.

It’s an umbrella term for different categories of tools in sales, such as sales acceleration, CRM (customer relationship management), sales intelligence, lead handling and prospecting, sales automation, and more.

Importance of sales tools

Sales is a fast-paced and high-pressure industry.

Salespeople are constantly pushed for more leads, more conversions and more revenues.

But with the right tools, this process could be streamlined. That’s why they are so beneficial for businesses.

• Understand which prospects are most likely to convert. Focus on prospects who you’re more likely to be successful with rather than chasing prospects that are unlikely to purchase from you. This way, you won’t be wasting the time and effort that you could allot on the right prospects. Plus, you can ensure to engage in a relevant manner./li>
• Determine when to reach out to prospects. Timing is key. You should know the right frequency and time when to reach out to prospects. You don’t want to keep touching base again and again to be annoying, but you also don’t want to barely keep in touch so that you’d be forgotten. Also, analyze which times or days your messages are likely to be opened or engaged with.
• Save time on tedious and time-consuming admin tasks. Opening emails, keeping records, preparing reports and documents, and data entry are only some of the most time-consuming admin tasks. These non-essential tasks are important, but they don’t directly relate to or impact your business’s core functions. Still, they have to be done. Sales tools can save time and automate some of these admin tasks, so you can focus more on what’s important.
• Automate the sales process. The sales process is a multi-step procedure of brining a lead to the status of a customer and supporting the customer throughout the sales journey.  Tools for sales automate this procedure by pre-qualifying leads, automating email marketing, invoices, sales orders, and overall making the sales pipeline more efficient.
• Demand for modern tools from employees. In a modern world, employees are also demanding for modern solutions. Using traditional methods could push your employees away because of processes that aren’t optimized, which wastes time and resources. Hence, implementing modern sales tools not only helps with your sales goals, but also in employee satisfaction.

How to choose sales tools

When you get a sales tool, you’re getting an entire system. But—it’s not as intimidating as it sounds.

Still, you should know what each tool does—what it’s for, which problems it solves, and whatnot. Then, all your tools should work seamlessly together.

There’s no one-size-fits all solution. Company needs can vary from business to business. The set of sales tools that work for one company doesn’t mean the same set of tools would work for you.

With that, here are some tips on choosing your sales tools to consider:

• Make a list of your core business needs.
• Check if your core business needs align with your customers’ needs.
• Figure out what the process looks like from the customer’s perspective.
• Double-check integrations between tools.
• Evaluate your potential solutions.

Sales tools you should know

1. Communication

While there’s a lot of wonderful sales software you can use, no sale is ever made without communication. A study from SHRM showed that at least a third of sales go down because of poor communication. So, it’s essential to master your craft and avoid making mistakes along the way.

To improve business communication, you should first look at ways to enhance your writing skills and hone your conversational style. From there, you can take a look at some sales tools that will help simplify processes while also keeping track of all communications between you and your potential client.

2. Information

Marketing is no longer about beating your chest and making outrageous claims. Nowadays, it’s more about being useful, relevant, and specific than any other time in history. That’s why tools that focus on information are so critical in sales.

These sales tools not only help you identify pain points for your prospects. They also help you figure out how your product or service can address those pain points and then make it incredibly easy for your prospects to buy from you.

For example, sales automation tools help salespeople remain organized with opportunities and manage leads with email outreach templates and notifications on deals that are about to close. B2B sales tools that focus on information also help you get answers about your connections, networking strategies, and competition in your industry.

3. Data

To effectively tackle sales challenges in 2024, you must first have a solid understanding of your target audience and what they need. This means having an abundance of accurate data. With big data being so readily available these days, it can be tempting to use as much as possible when crafting strategies for individuals and small businesses alike.

However, just because you can doesn’t mean you should. It’s essential that sales teams remain conscious about how personal data is used and how public data might still be potentially useful for B2B purposes.

So when compiling a list of best sales tools in 2024, make sure to consider only those that are legally permitted in your country. Ensure also that the tool you purchase allows users to limit specific datasets and view their information privately before deciding which ones are most suitable for your needs.

4. Customer feedback

The internet is your biggest tool when it comes to sales. With social media, blogging, and email marketing all at your fingertips, you can easily find out exactly what kind of sales tools are working and what aren’t.

To succeed, you must be able to take an honest look at your strengths and weaknesses. By connecting with customers via different sales tools, you’ll learn valuable information about who they are and how they interact with your brand. This information can also help you reach more potential clients while providing them with better service than before.

When implemented correctly, sales tools software allows you to gather important data about customer so you can make improvements based on real numbers and information rather than gut feelings or opinions.

5. Coaching

Sales tools that focus on coaching and productivity (like HubSpot’s CRM) will be a top consideration for B2B sales teams. Companies like these need tools that give their employees all they need to close deals, manage leads, and understand their customers’ needs.

These are all things that require specific knowledge and practice. So, it makes sense that one of your top considerations when choosing a sales tool is its ability to coach you in sales tactics and strategy. Good coaching creates engaged workers who can execute at high levels—and that’s exactly what you want from your team members on your sales team.

For example, a specific sales tool combines data analytics with an AI-powered sales assistant that coaches users through each stage of sales. It also leverages machine learning to identify patterns in customer interactions and coach reps accordingly. A platform as such will ensure every member of your team has access to information, helping them do their job more effectively.

6. Objectives

If you want to achieve your sales objectives, you’ll need tools that focus on them. In other words, sales tools that are specifically designed for your current and future sales tactics will give you a competitive advantage and ensure that you stay top-of-mind with prospects.

For example, lead qualification software helps businesses close more deals by identifying high-quality leads. Meanwhile, other sales tools allow marketers and salespeople to send personalized emails (that increase conversion) without actually having to write them.

Both functionalities are essential B2B sales tools because they were built around specific objectives—lead generation and lead qualification—and therefore deliver results by focusing on them.

7. Tracking

Lead tracking is a critical part of creating a successful sales funnel. In fact, a survey by CMO Council revealed that poorly managed leads cost businesses at least $1 trillion per year. By collecting leads with opt-in forms on your website, you can start tracking which content attracts which prospects—and then feed those preferences into future email marketing campaigns.

This kind of customer data management is essential for modern sales reps who want to be able to close deals by using tailored pitches that cater directly to their buyers’ interests. Fortunately, lead management systems will give you one important weapon for reaching out and closing deals with some clarity about what prospects need from you at every step in their journey.

Integration strategies: a simplified guide

Integrating sales tools into your business systems can significantly improve operations. Here’s a brief guide for effective integration:

1. Evaluate current systems: Assess the functions and limitations of your existing software. This is essential for understanding how new sales tools can fit into and improve your operations.
2. Define objectives for integration: Clearly outline your goals for this integration, focusing on areas such as data management improvements, process automation, or communication enhancements.
3. Select compatible tools: Opt for sales tools that work well with your existing systems, focusing on those with flexible integration options.
4. Plan the integration: Develop a clear plan with a timeline and the resources needed, aiming to minimize disruption during implementation.
5. Conduct data migration: Carefully move relevant data to the new tools, ensuring accuracy. IT support may be required for a smooth transition.
6. Test the system: Before fully implementing, test the integrated system for any issues, particularly focusing on data accuracy and workflow processes.
7. Train team members: Ensure your team is well-equipped with the knowledge to use the new system.
8. Monitor and refine: Continually assess the system’s performance, making refinements based on feedback and performance metrics.

Get the best sales tools for your business now

Successful entrepreneurs understand that their success depends on more than just their hard work. They’re also aware that tools play a huge role in their business’ success. As shown in the statistics by SugarCRM, 80% of businesses spend at least $1000 on technology every year to acquire the right tools to do their regular operations effectively.

A lot has changed over time and an updated list of sales tools and techniques should be one of your priorities. If you’re a sales professional looking to grow your business in 2024 and the coming years, you need to keep up with the trends by learning about and implementing new sales tools as they become available.

The post 7 Types of Sales Tools You Must Know first appeared on MightyCall.

Although one of the main differences between small and big business when it comes to tech is the budgets, it’s not merely affordability that makes a piece of software just perfect for small businesses. It should also have great scalability, offer options for doing business on-the-go (so a good mobile app is a must,) have responsive customer service and perfectly address your business needs. In this article we’ve included the “must haves” in a small business software kit.

• Accounting
• Communication
• Human Resources
• Marketing
• Collaboration
• Key considerations for selecting small business software
• Choosing the best software for small business

Accounting

Accounting is one of the most time-consuming aspects to running a business which can really give you, not just a headache, but a solid amount of stress. That’s why it’s essential for small business to have a system that has the features that will alleviate the burden as much as possible.

Zoho books

Zoho books is double-entry accounting software that is perfectly suitable for really small businesses. Double-entry means that it takes care of your income and expense accounts, or debits and credits. With Zoho books you can create financial reports, reconcile bank and credit accounts with ease, skipping data entry, manage your clients’ data, calculate taxes and more. Zoho books small business accounting software has three plans ranging from $9-$29. It’s cloud-based, so it works across platforms and devices. Another great thing: Zoho books mobile app is not limited in functionality compared to the desktop version which makes it perfect for doing business on the go. 24/5 support is also a huge plus.

Pros:

• Double-entry accounting business software
• Financial report creation
• Bank and credit account reconciliation

Cons:

• No payroll capabilities
• May have a steeper learning curve for beginners
• Limited integrations with third-party apps

Quick books online

Quick books is one of the most recognizable names in the industry and has been named the best accounting software for small businesses by many reputable sources like Business News Daily. It offers more features than Zoho books, which can be quite useful if you are way past the startup stage. It also easily integrates with many third-party apps. One of the advantages is that it is currently used by many accountants, which can be a bonus if you decide to hire an accountant in the future. Although the plans start from $10 you will need to pay $40 a month to unlock all the features.

Pros:

• Industry-recognized accounting software
• Integrates with third-party apps
• Widely used by accountants

Cons:

• Limited mobile app functionality
• Costlier for full-feature access
• Interface can be overwhelming for some users

Communication

Communication is essential for business, whether it’s communication within the team or your team with customers. Any small small company will benefit from a simple software for small business that combines all the communication channels such as e-mail, SMS, phone, voicemail, social media or website.

MightyCall

This is a cloud-based virtual phone system designed for small business. It enables small business employees never miss any customer-business interaction by gathering phone, SMS, email and other most popular communication means in a single easy-to-use console. The basic plan costs $19.99 will give you 2 users, 500 talk minutes and 1 toll-free or local business number. Additional numbers can be purchased just for additional $5 a month. It also offers some beneficial features like call recording, click to call website widget, social media connector, etc. which enables you to achieve more than same plans of some market giants like Grasshopper.

The main purpose of small business software is to save you time to focus on what’s really important to any small business owner which is to do what you are really passionate about — your business. The software above will help you bring any small business ideas you have to life.

Pros:

• Lots of additional features like call recording
• Consolidates multiple communication channels
• Affordable plans

Cons:

• Does not offer a fax option
• Although there is an enterprise option, the main focus of the provider are small and mid-sized businesses
• The live support is only active during work hours rather than 24/7

Human Resources

Managing you company’s human resources is also a challenging task. Thankfully, there are bunch of apps with great free features for you to use. Zenefits is one of them.

Zenefits

Solely aimed at small businesses, Zenefits is definitely in for the best small business software title. The program allows you to manage payroll, benefits, 401K and more without paperwork. It integrates all essential HR functions into a single easily manageable platform. What’s more, many of the services come without pay. Extra services include Time & Attendance, FSA, HSA, Commuter. Zenefits payroll feature has not been released yet.

Pros:

• Designed for small businesses
• Paperless HR management
• Many free services

Cons:

• Payroll feature not yet released
• Some advanced features may require additional costs
• Limited customization options

Marketing

Although marketing software can be pricy with an average monthly fee is just under $1000, there are still great solutions for small business to promote products or services for a much smaller price.

Ontraport

This small business marketing software company positions itself as “all-in-one business platform for entrepreneurs.” One great thing about Ontraport is that it is not just a CRM, but a complex solution providing great online marketing opportunities to small business for a reasonable cost. Features include: CRM, website and landing page builder, email and SMS marketing automation tool, online payment processing and more. If you plan to do business online, it may be well worth the outlay. The Basic $79 monthly plan provides access to email templates, CRM, SMS and marketing automation and landing and web page builder, Facebook lead capture and more. It also has 90days money back guarantee feature for you to see how well it works for your business.

Pros:

• All-in-one business platform
• Comprehensive marketing solution
• Affordable basic plan with a 90-day money-back guarantee

Cons:

• Steeper learning curve for new users
• Some features may be too complex for very small businesses
• Limited customer support on weekends

Collaboration

If your company delivers services on a project basis, you can greatly benefit from proper project management software that will help you keep all employees up-to-date and make sure deadlines are met.

Projecturf

Projecturf is a bit more than just project planning software. Apart from project management, it offers many great resources like built-in collaboration tools, tasks and to-do lists, calendars and events, file sharing and time tracking. The plans are well-balanced, so no matter if you are a freelancer or small business owner you can be sure that you are not buying more features than you actually need. It is quite easy to use, but if you get lost in the many features offered, you can benefit from the great customer support which includes phone support, online support, knowledge base and video tutorials.

Pros:

• Comprehensive project management tools
• Built-in collaboration features
• Flexible plans for various needs

Cons:

• Limited integrations with third-party apps
• No free plan available for users to try
• No built-in chat functionality

Key considerations for selecting small business software

• Identify Specific Needs: Understand the unique requirements of your business. This could include specific functionalities like accounting, customer relationship management, or project tracking.
• Budget Allocation: Set a realistic budget for software investments. While affordability is key, ensure that the software offers the necessary features without compromising quality.
• Scalability: Look for software that can grow and adapt with your business. Scalability is essential to avoid the need for frequent software changes as your business evolves.
• Ease of Use: Choose software with a user-friendly interface. This is particularly important to facilitate quick adoption among your team members, including those with limited technical expertise.
• Mobile Accessibility: In today’s mobile-centric world, ensure that the software has a functional mobile app. This feature is crucial for business operations on the go.
• Customer Support: Evaluate the level and quality of customer support provided. Responsive and helpful support is invaluable, especially for more complex software solutions.
• Integration Capabilities: The software should integrate smoothly with your existing tools and systems, enhancing overall workflow efficiency.
• Security Features: Prioritize software with robust security measures to safeguard your business data against potential threats and breaches.

By carefully considering these aspects, you can make an informed decision on the software that best fits your small business needs, contributing to smoother operations and long-term growth.

Choosing the best software for small business

While each tool has its unique strengths and weaknesses, it’s crucial to consider your specific needs and budget when choosing the best software for small business. By investing in the right software, you can improve your business processes, save time, and focus on your core passion: growing and nurturing your small business.

The post Best Small Business Software first appeared on MightyCall.

In this post, learn how to hire customer service representatives to improve the consumer experience and foster long-term loyalty.

• When to hire customer service representatives;
• How to hire customer service?;
• Hire customer service representatives to boost satisfaction.

When to hire customer service representatives

• When your team is overwhelmed: If you’re seeing a backlog of support tickets and calls going unanswered, it indicates that your team can’t keep up with the workload.
• When you’re growing fast: Business growth is great news, but it also means an increase in product lines and orders—and a surge in customers calling with queries about them.
• When staff turnover is high: If too many of your customer support agents are quitting, it’s probably because they’re frustrated at not having enough time for each customer, or being yelled at for keeping callers waiting.
• When your metrics are heading in the wrong direction: If the figures for KPIs like average time to answer and time to resolution have snowballed, you definitely need more staff.
• When customers are unhappy: If you’re experiencing negative feedback, poor CSAT scores, and bad reviews online, it’s time to hire extra agents to turn things around.

How to hire customer service?

1. Identify your needs

First, you need to pinpoint what your existing customer service team needs. Only then can you determine your recruitment goals and identify your ideal candidates.

It’s good practice to get feedback from your customer service team about their workload and stress levels. Also, keep an eye on your forecasts and metrics.

For example, if you use attendance management software, it’s easy to track employee hours. You can see immediately if there are gaps in shifts or if customer service reps are working longer hours than they should. This software also comes with the added benefits of increased accuracy and less work for HR staff.

Once you’ve decided you need extra staff, you must determine the specifics, including the:

• Number of posts that need filling
• Skills your current team lacks
• Duties your new reps will perform

2. Clearly define the job requirements

Your next task is to write a job description. You can find templates online, but—broadly speaking—you should include the following:

• Job title and location
• An “About Us” section detailing your values, what you offer, etc.
• Duties and responsibilities
• Qualifications and experience
• Skills (required and nice- to- have)
• Compensation (salary, benefits, perks, etc.)
• Training and advancement opportunities
• A diversity and inclusion (D&I) statement
• Next steps (application deadline, how to apply, how you’ll contact them, etc.)

Duties will vary according to your company and the industry you’re operating in, but they’re likely to include customer care tasks such as answering incoming calls and handling customer complaints.

You’ll also need to consider the hard and soft skills required for the job. For a customer service rep, you’re likely to need:

Use gender-neutral language in your listing and don’t include too many “must-haves,” as this may put some potential candidates off.

3. Determine the financial considerations

There are a few financial considerations to determine when hiring customer service reps too. These include:

• Cost of training
• Target salary
• Return on investment (ROI)

Cost of training

Even if you hire qualified candidates, you’ll need to train them on your company’s products and methods. You must thus determine how much this training will cost so you can set an accurate budget. Depending on your approach, costs may include:

• Hiring an instructor (online or in -person)
• Purchasing call center coaching tools
• Training materials, like booklets and videos

Think about what your new hires need to know to do the job effectively. The longer the training period, and the more employees you include, the more it will cost.

Target salary

According to Indeed, the average salary for a customer service representative in the US is $16.98 per hour. In the UK, it’s £7.66. That said, salaries can and do vary widely due to factors like:

• The industry. Industries like healthcare, IT, and finance usually pay more than retail.
• Location. Wages vary by country and state, and reps usually earn more in cities than in rural areas.
• Company size. Large companies can usually afford to pay more than small companies.
• Skills and qualifications. The more qualified the candidate, the more they’re likely to earn.
• Experience. Experienced reps typically earn more than reps who are new to the job.
• Type of work. Reps whot work face-to-face with customers may earn more than those who work in a call center.

Return on investment (ROI)

It’s helpful to calculate the ROI of your recruitment efforts so you know if they’re cost-effective. To do this, you can use the following formula:

You need to begin by identifying the cost of hiring and onboarding new customer service reps. Costs may include:

• Salaries of your HR staff
• Advertising and marketing costs
• Admin expenses and recruitment overheads
• Training costs

Also, identify the money you gain from your customer service team, such as upgrades, retention, and referrals. It’s worth bearing in mind that nearly 60% of customers will pay more for better customer service.

One way to get the data you need is through an ERP solution. ERP solutions unify your business data in a single place, giving you a complete picture of your costs. Plus, you can track KPIs in real-time, helping identify where your customer service reps are having an impact.

In fact, an ERP solution can help you make better decisions in every area of your business, from HR and customer service to accounting and inventory control.

4. Develop a competency framework

To narrow down your candidate pool, develop a competency framework for your customer service reps. This should define the skills, knowledge, and attributes you’d like your reps to have.

To create an effective framework, you first need to collect data from your current employees to identify the competencies needed to do their jobs. You can collect this via interviews, surveys, and observation of their day-to-day activities.

Next, break down these competencies into different categories, such as interpersonal, leadership, and functional competencies. For example:

Functional competencies

• Technically proficient
• Detailed job knowledge
• Strong analytical and problem-solving skills
• High attention to detail

Leadership competencies

• Good judgment
• Strong decision-making skills
• Credible and informative
• Stress tolerance

Interpersonal competencies

• Excellent communication skills (written and verbal)
• High degree of empathy
• Good listening skills
• Conflict resolution

Finally, review your framework to ensure you only include competencies that are essential for a customer service rep.

5. Utilize behavioral interview questions

Use behavioral questions during the interview process to assess how well candidates handle real-world scenarios. Behavioral interview questions usually start with a phrase like “Describe a time when…” or “Tell me about a situation where…”

Include a range of scenarios to assess a candidate’s experience, personality, strengths, and skills. This is a chance for candidates to reflect on their past performance.

Here are some examples of behavioral interview questions you could use:

• Describe a time when a customer raised their voice at you. How did you respond?
• Think about a time you had to give a customer bad news. What did you do?
• Tell me about a situation where you had to bring in your manager.
• Tell me what you would do if a customer wanted a refund but you weren’t sure they were eligible.
• Describe a time when you successfully resolved a customer’s issue. What was the outcome?

6. Assess candidates’ communication abilities

Effective client communication is an essential skill for customer service reps. So, you must assess their capabilities in all forms of communication 一 written, verbal, and body language. Candidates should be able to interact with customers on the phone, in person, and via email, live chat, and social media.

You could include a screening test in your job application to assess the candidates’ written communication skills. You can then have a short phone conversation with them to test their verbal communication abilities. You want candidates who are clear, calm, and friendly. They should also be good listeners.

You can record examples of calls with your business phone’s call recording feature and ask candidates to rate these interactions too. Then, ask them what they’d do differently and why.

Finally, when you interview your most promising candidates, pay attention to their body language. If they seem nervous or fidgety, they may not be a good fit for your team.

7. Consider the cultural fit of candidates

It’s also important to consider the cultural fit of job candidates. You want someone who will complement your company’s culture and values. A good cultural fit makes it more likely that potential employees will stay with your company. It also aids collaboration and team building.

In contrast, a poor cultural fit can lead to disruption and friction, which harms productivity and morale.

To ensure a good cultural fit, follow these steps:

1. Define your company’s culture. List your company’s core beliefs, values, and practices. Also, think about the type of person you’re looking for (such as one with empathy who’s hardworking and a great communicator).
2. Publicize your culture. Include your culture in your job description and other hiring materials, such as social media posts, to attract the right candidates.
3. Look for clues in their job application. Candidates often list their skills and notable qualities here, so pay attention to these. Also, look at their cover letter. How does the person come across? What are their career goals?
4. Discuss culture in the job interview. Talk about what makes your company’s culture different and ask what the candidate is looking for. If your company emphasizes teamwork but the candidate prefers autonomy, it won’t be a good fit.

You can also assess cultural fit by arranging for candidates to spend time with your customer service team.

8. Incorporate simulations during the interview process

The final step in your assessment of candidates should be to use simulations to assess how well they can perform the job. These can take a variety of forms, such as:

• Roleplay. You and the candidate act out a scene, such as a customer asking for help in a store or an angry customer on the phone.
• Written simulations. You could send anonymized real-world complaints to a candidate to see how they respond (for instance, via email).
• Virtual simulations. There are also software platforms that let you assess all aspects of the job, from answering customer tickets to updating customer accounts and logging information.

Simulations allow you to test candidates in a range of scenarios. For instance, dealing with upset customers, fielding phone calls, and using call center IVR.

If candidates do well in simulations, chances are they’ll do well with real customers too.

9. Make the final selection and offer

This step is the final part of the hiring process. Once you’ve found the most qualified people, make a shortlist of three to five applicants. Then, your selection committee can compare them and choose their preferred candidate.

Once you’ve checked your preferred candidate’s references, you can make the job offer. This may be over the phone, but it’s usually best to write a formal offer letter. This letter should include:

• Job title and description
• Candidate’s name and contact details
• Terms and conditions
• Start date, time, and location
• Dress code
• Reporting structure (including their supervisor or manager)
• Salary, benefits, bonuses, etc.
• Termination and resignation conditions

Also, include instructions on what to do next, like how to reply and the sign-by date for the contract. Remember to email unsuccessful applicants so they’re not left wondering if they got the job or not.

Hire customer service representatives to boost satisfaction

Customer service plays a vital role in your business, so you need to ensure you hire the best people. By following the steps in this post, you can select customer service representatives that fulfill your needs and boost customer satisfaction and loyalty.

Once you’ve honed your recruitment process, your next step should be to evaluate it. You can do this by tracking KPIs and requesting feedback from candidates, employees, and staff. This way, you can improve the applicant experience. You may even find ways to make the process more cost-effective一and that’s great for your bottom line.

The post How to Hire Customer Service Representatives first appeared on MightyCall.

Psychologically, all small businesses approach online networking in various ways. But the benefits are non-disputable. As of 2020, 80% of hires are made through networking; LinkedIn messages have opened up new career opportunities for 35% of networkers, and people who spent about 6 hours/week networking say it played a critical role in their success. And that’s just the tip of the iceberg (in a good way!)

While we’re all waiting for normal business and social life to spring back, right now is a special time to lay that foundation for online connections or update it as needed. When else will you get a chance to connect with so many people and businesses who’re also in need of fast help and looking for someone like you to meet their needs?

To walk you through online networking at this super important time, we’ve asked nearly three dozen entrepreneurs to break down their wisdom into bite-sized insights. Without further comments and interruptions, here is everything you need to know about online networking  — from first steps to smart tips and new platforms to explore!

1. Start off right

Favorite networking platform: LinkedIn

Biron Clark is the founder of CareerSidekick.com, a job search advice website read by more than one million people per month and mentioned in Forbes, Business Insider, CNBC, and more.

“The biggest challenge to overcome when networking online is getting a response to the first message you send each person. I recommend keeping the message short and well-spaced to avoid overwhelming them at first glance [and] asking for something small to start. For example, if you’re looking for a new job…you could say, ‘I was thinking of applying to… How have you enjoyed the work environment since joining? I read some positive reviews online but I always like to ask about this type of thing first-hand.’ That will get you more replies and open the door to a longer conversation where you can build a relationship, which is what networking is really about.”

2. Target industry experts

Favorite networking platform: Clarity

In November 2019 Diana Ross launched her second tech startup, GetEmails. Just four months later it hit $100K in monthly revenue. Diana says this success was due partly to networking, which she used to get expert advice, industry insights, and sales contacts.

“My favourite platform for online networking is Clarity. You can browse the expert community to find industry leaders who are willing to help, and then schedule a call with them. It’s a great way to find other entrepreneurs who have done it before and can offer valuable advice and insights based on personal experiences. Don’t be afraid to use it as a sales tool. Don’t look only for experts who can guide you, look for people who could be potential buyers. In our experience, we found many entrepreneurs with big networks who were often happy to make intros or join our affiliate program.”

3. Sow well to harvest richly

Favorite networking platform: Linkedin

Kent Lewis, President & Founder, Anvil, is one of Linkedin’s first million users. When he first moved to Portland, OR in 1995, he knew 1 person, his cousin. Now he knows hundreds of area professionals, founded his own networking group in 1999 (pdxMindShare) with over 11,000 LinkedIn Group members, and has over 18,900 connections on LinkedIn.

“There is no personal and professional growth without a supporting network, regardless of your age, experience or industry. Treat your network like a garden. It requires constant care in order to grow and harvest. Regularly reach out to your network with updates …phone calls for tier 2 and web/video conference meetings for tier 1 contacts. Don’t assume people DON’T want to hear from you. Reach out, ask a question, provide valuable insights, etc. and your response rate will be much higher.”

4. Polish up your brand image

Favorite networking platform:  LinkedIn

Shelley Grieshop is an award-winning AP journalist who switched careers in 2016 to become a creative writer for a private company, Totally Promotional. Her tasks include blogging, public relations and communications, and website page content.

“Networking is all about getting and keeping your company name in front of your target audience [and] it’s best to give them something they can physically hold. We suggest customizing affordable and usable items with your business logo and mailing them to those important clients and loyal customers. Even something as small as a magnetic chip clip or bottle opener will make an impression. Another way to network remotely is to wear logo apparel or have personalized items on your desk when video conferencing clients. It can be a big boost to your business and give you an overall professional appearance.”

5. Go where your audience is

Favorite networking platform: Instagram

Brian Robben is the CEO of the international digital marketing agency Robben Media, who helps businesses scale via SEO, paid ads, and website conversions.

“There’s a fine line between being assertive and overly aggressive in pitching your services when online networking… Before you send a message, do some quick research on their bio, pictures, and captions. Find an interesting post, then mention that in your introduction message. Networking, especially online, is a numbers game. Keep at it until you have a thriving base of people you can go to for advice and new business. Instagram is my favorite platform to network because many entrepreneurs are on the platform and my marketing services are for them specifically.”

6. Be a resource to the community

Favorite networking platform: Twitter Chats

Deborah Sweeney is CEO of MyCorporation.com, a document filing service that helps entrepreneurs start and run a small business.

“I have a slightly unusual approach to online networking — I enjoy networking via Twitter chats. I participate in Twitter chats that are relevant to my industry and get to meet a lot of like-minded users through these chats while answering questions and sharing expertise on business topics. [To get started] find the chat that is relevant to you and your industry. Attend it regularly and join in the conversation. You don’t have to respond to every question, but you should be able to reply to a few questions that are asked and engage with responses made by other users.”

7. Show up on a daily basis

Favorite networking platform: LinkedIn

Malte Scholz is a passionate product manager and technology enthusiast with deep knowledge in launching cross-platform SaaS and e-commerce products who co-founded Airfocus  – a software solution that enables smarter roadmap prioritization for teams and solopreneurs.

“The biggest challenge is setting your foot through the door. You should start making your first connections, posting some content and building your presence, one post at a time. Also, it can be challenging to do cold outreach but it’s necessary to send a message or a connection request to strangers sometimes to create new opportunities. My biggest tip for first-timers on LinkedIn is to be present for at least 15 minutes per day. Even if you don’t create any new posts, you can like and comment on others’ content, which will show up in your connections’ news feeds and you will get new profile views and connection requests.”

8. Engage directly with brands

Favorite networking platform: Twitter

Elna Cain is a freelance writer and freelance writing coach.

“As a freelance writer, I rely on networking to help me land content projects. For example, I do Pinterest marketing for my blog writing and an editor found one of my pins in a parenting group board and reached out to me for a writing project. Twitter is the best platform for networking online because you can share content easily, tag leads, and engage in Twitter chats. To get started with online networking, start following brands you want to collaborate with, feature them in your blog content or client pieces, and engage with them on Twitter.”

9. Avoid automation

Favorite networking platform: LinkedIn, Instagram, Twitter, TikTok

Sri Gaddam is the founder of Bansuri Media, a global digital advertising and marketing agency that helps grow some of the biggest brands from Fortune 500s to well-funded startups.

“People get bombarded by automated tools that send messages that aren’t personalized, so your goal is to stand out by being authentic and personal. Everyone’s competing for time, so being genuine really needs to come through if you’re going to get a positive reaction. It helps to follow up immediately and set up a phone/video call immediately so you aren’t just another virtual connection. That’s a proactive approach that helped me get to know other people in my industry.”

10. Be interesting and direct

Favorite networking platform: LinkedIn

Sean Nguyen runs Internet Advisor because he believes everyone should be aware of every service provider option in their area. He is an avid gamer and takes internet speed a little too seriously.

“You have to understand that 90% of the mail people receive is spam and people trying to scam them, so getting people to answer and take you seriously can be difficult. No matter if you’re emailing or sending a message on LinkedIn, you have to get their attention from the first couple of lines, but without spammy subject lines and cheap tricks like that. Be confident, be persuasive, and be concise. Never apologize for contacting [someone], and don’t ‘ask’ for things. Instead of saying ‘Would it be ok if we had a Zoom call so we can discuss this opportunity?’, say ‘I would like to have a Zoom call to discuss this opportunity’.”

11. Pioneer new platforms

Favorite networking platform: Shapr

Stacy Caprio is Founder at Her.CEO, a hub of resources for women entrepreneurs.

“One online networking app that has helped me gain more connections and brand awareness in the form of online swipe networking is the professional networking app Shapr. It’s a great app that uses your location and professional interests to match you with other professionals in your area. It’s also great to get visibility for a specific product, service or launch you have, since people will be able to view your profile and details when swiping by you.”

12. Build trust through video networking

Favorite Networking platform: LinkedIn

Tal Paperin has over 15 years of diverse professional experience in International Sales and Marketing. As CEO for KSW Solutions, Tal works to help other companies succeed in strategic planning, reaching new markets, and sales worldwide.

“The biggest challenge to overcome is building trust with someone you’ve never met. I do this by posting videos. At first, I would do them almost every day. I didn’t think anyone was really paying attention, but if I skipped a few days [of posting videos] I’d get DMs saying they missed seeing me! [Soon] I started engaging with everyone who liked my videos on LinkedIn. I’d send relevant people invitations to connect, and when they did I would send a short note thanking them for their connection. One of our most lucrative contracts came from someone liking one of my videos.”

13. Research your network

Favorite networking platform: Business Network International

Scot J. Chrisman — founder and CEO at THE MEDIA HOUSE, is a professional skier turned influencer and entrepreneur who is building a media, and marketing empire.

“My experience with online networking comes from Business Network International or BNI, which used to
be an in-person marketing group that shifted to online networking when the pandemic hit. […] My tip for first-time online networkers is to have an idea of who you’d like to talk to and build a prior connection through private messages before the meeting. With BNI [Business network Intenrational] this is possible because you’re gonna have an idea of who’s gonna be there, so you can actually reach out to them prior to meeting them for the first time.”

14. Don’t be afraid to ask

Favorite networking platform: Zoom

Nettie Owens is a nationally recognized and award-winning expert and speaker in the field of organizing, accountability, and productivity. She has been included in such media outlets as TLC, ABC, Parents, Fox, CNN, eHow and Entrepreneur, and the Pittsburgh Gazette for her expertise. She is a member of the National Association of Professional Organizers (NAPO) and the Institute for Challenging Disorganization.

“It’s not uncommon during networking to have an ‘ask’ that you can share [like] feedback on a blog, podcast, video post [or] connections, especially very specific ones, that could help you in what you are trying to accomplish. I once asked for a connection to Robert Downey, Jr. because I wanted to collaborate on his Footprint Collation Project. Although I didn’t reach RDJ, I did find a connection within one degree of separation and that was extremely helpful!”

15. Help, don’t sell

Favorite networking platform: Facebook Groups

Steve Morgan is a Freelance SEO Consultant based in the UK. He’s also written a book – Anti-Sell – the award-winning sales guide for freelancers who struggle with sales and networking.

“It’s unlikely that you’ll get a great client with little effort and straight away (unless you’re incredibly lucky). Give it time and appreciate that you’ll have to sow some seeds first… If the very first thing you do is to jump in with an ad for your services, it’s going to be a massive turn-off and people are going to struggle to trust you. Instead, just help people. If people have a query or need a recommendation for something and you’re able to help, then get onto their radar that way. Facebook groups…have a strict ‘no self-promotion’ policy but even so, I’ve built up such a rapport with the community that people will often refer me if they know someone who needs SEO help.”

16. Don’t ghost established contacts

Favorite networking platform: Facebook Groups

Meg Marrs is Founder and Marketing Manager at K9 of Mine, dedicated to helping owners take the very best care of their four-legged friends.

“Make sure to maintain your connections! While digital networking makes it easy to make new connections, maintaining them requires a bit more effort. When you meet folks you like and want to keep working with, make sure to shoot them an email periodically, reply to their tweets, etc. There are tons of unique ways you can give a little nod or wave to people online – commenting on an article, sharing one of their Facebook posts, tagging them on Instagram, etc. Use social media to stay in the peripheral and slowly build your connection!”

17. Use networking to learn

Favorite networking platform: LinkedIn

Murad Musakaev works for Full HP Ltd as a developer of mobile games. He’s a Project and Business Development Manager in charge of external connections.

“When I’ve started the self-education process in order to improve my skills, I’ve decided to reach out to many professionals in the industry just to know how they became who they are. What they studied, how they feel about their job. If you are only getting started with online networking, be sincere and open-minded – that’s all it takes! Reach out to anyone without hesitation… If you are trying to reach some big and busy person, let them know your point and the exact time you are going to borrow from the start. Introduce yourself and ask your questions.”

18. Grow your roots

Favorite networking platform: LinkedIn

Aly Brine is a Career Alignment Coach and Consultant at Aly Brine Coaching, LLC with a background in Human Resources and recruiting. She’s been networking both virtually and in-person since undergrad and throughout her career.

“Networking is still driven by human connection, no matter the platform. So while we may be moving to a virtual platform, connection through relationship building is still going to be driving the force in successful networking. If you attended a college or university, one of my go-to recommendations … is to start with the alumni tool found on the college’s LinkedIn page. Depending on your networking goals, you can utilize filters to connect with alumni that are in the same geographical area, are in the same professional field as you or that work for a company you’d love to be a part of in the future. Be sure to check out their profile and when you send them a connection request include that you’re a fellow alumni.

19. Join niche groups

Favorite networking platform: LinkedIn Groups

Jacob Edwards-Bytom is the Director of E-commerce at Made4Fighters, an online retailer that sells training gear and equipment for martial artists.

“I’m using LinkedIn now to connect with vendors or potential business partners… LinkedIn has groups where you can connect with professionals who work in the same industry. I like to use LinkedIn groups to share content from our website, ask questions, and network with other executives. I’ve found the key is to not use it as an opportunity to promote your company’s products or services, but instead as a chance to engage with other professionals.”

20. Prepare for video networking in advance

Favorite networking platform: icebreaker.video

Stephanie Thoma is a networking strategy coach, event host, and founder of Confident Introvert. She has facilitated over 1,000 events and established a fulfilling career helping people generate meaningful connections at online and in-person events.

“I have enjoyed hosting and attending events on icebreaker.video. I host at least monthly, and love the 1:1 connections that are made! Unique challenges [of video networking] include the time it takes to set up tech. I like to think of tech set up as the commute. Aim to get into a virtual space at least 15-minutes early in case an unforeseeable tech glitch occurs. Another is background noise. A great rule of thumb is to enter virtual spaces on mute, and consider getting a dynamic (not a condensed) usb mic which helps block out additional noise that would otherwise be picked up from your keyboard.”

21. Look the part

Favorite networking platform: LinkedIn

Angelo Sorbello, MSc, is the Founder of Astrogrowth, a fast-growing business software reviews site that helps every day thousands of entrepreneurs to select the best software for their needs. He has been a consultant for Techstars-backed and Appsumo featured companies, and the first company that he started at just 13 years old was acquired in 2013.

“Networking online can start from one single post and can lead to just about anything in the online world. Maybe you find a new business partner; maybe you find a new job; and maybe you get yourself a new client. [In order for this to happen] portray yourself as professional as you would in person. This may be obvious, but many people fail to use proper photos, don’t take the time to build their profile, and are too impersonal when chatting. This can turn someone off from collaborating even if it is far from the truth in real life. Make sure you appear as you should: professional and organized.”

22. Get your tech straight

Favorite networking platform: Slack Groups

Cynthia Orduña is a Career Coach with a background in HR and recruiting.

“Because it requires less effort..more people are open to hopping on a call or scheduling a video chat. However, it definitely comes with its own set of challenges. When I worked in recruiting, a potential client couldn’t hop on Zoom, and there ended up being so much miscommunication we missed our entire meeting time. My tips for first-timers would be to always prepare for the worst and make sure to fix the situation as quickly as possible! No matter how safe you think you are or how fast your wifi is, your sound, video, or connection can cut off any time. You may only have 20 minutes scheduled and you can’t waste 5-10 of them trying to fix the tech.”

23. Choose quality over quantity

Favorite networking platform: Remo

Michelle Symonds is a technical SEO specialist who devises and implements digital marketing campaigns for businesses in the UK and USA. She established Ditto Digital in 2010 to grow the organic search presence of SMEs by providing tailored digital marketing expertise.

“Online networking for me during the COVID-19 crisis has been more about the mutual support from other people running small businesses. By far my favourite platform is Remo. The reason is that you can choose to “sit at a table” of no more than 6 people and you can see which people are at which virtual table before joining a group. […] It’s better to get to know a few people than speak briefly with everyone. Also, when asking a question specifically direct it to one person by name – online it’s less easy for people to realise the question is directed at them, and asking an open question means either everyone tries to answer or no-one does!”

24. Focus on giving back

Favorite networking platform: Twitter

Nikola Roza blogs about SEO and affiliate marketing, and how to combine the two to become successful online.

“For every tweet I send out promoting my blog posts, I send 20 tweets promoting my friends and other bloggers in the same space. That way I get to promote myself while being generous with others. And then I get to experience the awesome effect of other people generously sharing my work with their audiences. It’s a give-and-get system and it works because other people can promote me on their own much more than I can promote myself.”

25. Keep it simple

Favorite networking platform: Facebook Groups

Katie Ziskind, is a licensed marriage and family therapist and the owner of Wisdom Within Counseling. Based in Niantic, Connecticut, it’s a Holistic Marriage and Family Therapy with Child and Teen Speciality.

“Online networking doesn’t have to be scary and you can do it from your pajamas! If someone posts something that you enjoy, comment and see if you can message them if you have further questions. [For example] if someone posts about working with a counseling client with an eating disorder (a speciality of mine) and has a question, I’ll comment and say ‘I’m happy to help you, feel free to personal message me,’ and connection becomes a personal message conversation that eventually turns into a phone call and a referral work.”

26. Draw up a networking schedule

Favorite networking platform: Zoom, Facebook Groups

Tobe Brockner is the founder of Re:purpose Initiative, an online peer-to-peer training, coaching, and accountability platform. He has a deep, first-hand experience of the benefits of online networking.

“Build networking and relationship development into your daily schedule. Whether that is more formal, such as scheduling weekly Zoom meetings, or simply hopping into your favorite Facebook Group and making a contribution, it needs to be a habit you cultivate. [For] people who pay, pay attention. Seek out paid networking groups such as accountability or mastermind groups. When we have skin in the game, we are much likely to show up and participate fully.”

27. Find your tribe

Favorite networking platform: Facebook

Cynthia Harder has been an online entrepreneur for over two years and has effectively sold out her Virtual Assistant and Consulting services by networking on social media.

“The main challenge to overcome is feeling like you have to be everywhere, all of the time. This will lead to burn out or just losing interest altogether in your online networking efforts. For this reason, I recommend choosing one main social media platform to focus your energy and time on. Along with that, don’t go too Join-happy and join dozens of networking groups. Once you find 2-5 groups that are valuable to you, stick with those. Set a daily alarm to pop into your groups for 15-30 minutes each day and make posts (many groups have theme days to guide you in posting), read new posts from other people, and of course, respond or engage with anything you find interesting.”

Key Networking Tips: Next Steps

Now that you have gained valuable insights into effective networking strategies for small business owners and entrepreneurs, it’s time to take action. Start by implementing the small business networking tips shared by successful entrepreneurs, such as attending virtual events, leveraging social media, and reaching out to potential partners and collaborators.

Networking tips for entrepreneurs, such as being authentic and genuine, taking the time to research potential contacts, and following up with contacts after networking events, can help you establish long-lasting relationships with other professionals in your industry.

As a small business owner or entrepreneur, networking is a crucial component of success. By taking action, you can expand your business network, gain new clients or customers, and stay ahead of the competition.

The post 27 Online Networking Tips for Small Business Owners first appeared on MightyCall.

What is Mobile Marketing?

Mobile marketing is a multi-channel, digital marketing strategy aimed at reaching targeted audiences through their smartphones, tablets, and other mobile devices. This approach encompasses a range of techniques, such as mobile-optimized websites, mobile advertising, SMS marketing, and app-based marketing. By leveraging these strategies, businesses can engage with customers effectively, providing personalized content and promoting their products or services. As more people rely on mobile devices, mobile marketing has become an indispensable tool for businesses seeking to establish a strong online presence and connect with consumers on-the-go.

Mobile Marketing Tips

Have a Mobile App

Just having a mobile-optimized site is no longer enough, mobile apps are the present and future of mobile use. Having an app has many benefits, and as well as just increasing revenue, you are able to include a range of features that would not be available on a mobile site, such as push notifications and touch ID login or payment.

Localized Content

This is one of the most important aspects of mobile marketing if you want people to be able to find you. You should ensure that your site includes information on how to find you and that you are registered with search engines such as Google. This way, if someone looks for a business with your niche in your area, you are likely to come up in their search results.

Paid Search

This is a good way to get your business’s name out there, by putting your brand’s name in front of potential customers without having to spend a fortune.
You’ll be able to stick to the budget that you set and easily track the number of conversions that your advertising is bringing in.

Text Marketing

SMS marketing can be really effective, especially as people are much more likely to open a text message than they are an email. Sending unsolicited texts can get you into trouble, so you have to make sure that your customers really want them. You can do this by keeping a record of who has opted in and who has opted out. Although you may think this will be an expensive way to market, companies like MightyCall have unlimited texts included in every plan they offer, so it doesn’t have to be as expensive as you think.

Media Strategy

Small businesses need to get their name out there, and developing a strategy to drive awareness can be a good way of achieving this.
One of the best methods is to build a connection with those around you, such as other businesses. You should try to reach out to potential partners such as bloggers and writers and establish a relationship with them. This will give you instant access to an even larger audience.

Utilize Social Media Platforms

Social media platforms play a vital role in mobile marketing. Create engaging and shareable content, optimize your posts for mobile users, and make it easy for customers to interact with your brand. Engaging with your audience through social media not only increases brand awareness but also fosters customer loyalty and trust, ultimately driving conversions.

Implement In-App Marketing

In-app marketing enables you to communicate directly with customers using your mobile app. Utilize personalized and targeted in-app messages, offers, or promotions to boost customer retention and increase sales. By incorporating in-app marketing strategies, you can enhance the user experience and encourage customers to remain active within your app, leading to higher conversion rates and customer satisfaction.

Being an early adopter of this marketing trend could help to put you one step ahead of your competitors, especially as mobile marketing is already a very crowded industry.

Mobile Marketing Plan

An effective mobile marketing plan must encompass a diverse range of strategies, incorporating various mobile marketing tactics to cater to your specific business needs. By leveraging a well-rounded and customized mobile advertising strategy, you can ensure that your brand stays ahead of the competition, reaching and engaging customers through different mobile platforms. As mobile devices continue to play an increasingly dominant role in our lives, implementing a comprehensive mobile marketing plan that utilizes a variety of mobile marketing techniques becomes an essential component for business success and growth.

The post Tips fo Effective Mobile Marketing Strategy for Your Small Business first appeared on MightyCall.

In reality, all you need is to know the strengths and priorities of your business. Depending on your needs, we’ve selected the 5 best website builders for small business and 1 great customer service to make sure you’re always a phone call away from the clients who need you most.

Highlights for Your Small Business Website

A question that every small business owner should ask themselves before setting out to build their perfect site is:

“What does my business need most, today?”

Here are the 7 main options to consider:

1. An SEO-oriented, all-in-one platform that will grow with me;
2. An out-of-the-box, no-fuss solution to get the business up and running;
3. Sophisticated design and creative carte blanche;
4. A professional online store;
5. An impressive but easy way to present multimedia and visual content;
6. Seamless integration with third-party tools and applications;
7. Mobile optimization for an exceptional user experience on all devices.

Now, once you’ve set your priorities, let’s take a look at some of the best platforms for different business needs. Doing things the right way from the start is your simplest path to peace of mind in the future.

1.  WordPress.org – an SEO-oriented, all-in-one platform that grows with the business

Keep in mind that WordPress has two platforms: the full-featured WordPress.org and its sibling WordPress.com. It’s the former that you’ll want as your website builder for small business. Did you know WordPress.org is the platform global giants such as The New Yorker, Sony, Bloomberg, and Facebook Newsroom use to host their sites? You’ll be in good company with WordPress.

Main Features:

SEO-oriented

With all your competition, you can’t underrate the importance of Search Engine Optimization (SEO). If you still have trouble figuring out how to apply SEO in practice, we suggest WordPress do it for you.  Highly optimized for search engines, WordPress also supports great plugins like Yoast SEO which ensures that your content never stays shut off from the wider world.

Total flexibility

WordPress offers countless e-commerce opportunities for beginners and advanced users alike. The number of plugins alone–over 50k – is amazing. What’s more – a great deal of them are free.

WordPress gives you total control over your site. You can switch templates as well as download and export your content anytime. If you plan on expanding your business and are looking for a platform that you won’t outgrow with time– look no further.

Pros & Cons

Take into consideration: manual updates required

Being an open-source, free software (you only pay for domain +hosting), WordPress.org doesn’t give you control over its latest developments and functionality.  That means you’ll have to update your site regularly to have all the latest security features and backup your data manually.

2. Wix – an out-of-the-box, no-fuss solution to get your site up and running

Main Features:

Intuitive Web Builder

It doesn’t get easier than this. Wix has made creating a website as simple as having a short chat about your business with its Artificial Intelligence assistant. For those more in the know and prepared to do the job themselves, Wix Editor (for intermediate users) and Wix Code (for developers) provide all the necessary tools to build a site. If you need an e-commerce option, you will have to buy a special Store Plan.

Automatic updates

With Wix, you can relax and forget about manual updates. Both security issues and updates are handled by the site.

Pros & Cons

Take into consideration: data inflexibility

Once you’ve chosen a template on Wix, you’re pretty much stuck with it. Wix doesn’t allow you to export content to a different template, or, for that matter, a different platform. This means that if you decide to download and move your site to a different web builder later on, or even switch templates, you’ll have to manually rebuild all your content.

3. Squarespace –sophisticated design and creative carte blanche

Main Features:

Design-oriented

For everyone who’s strong with design skills and has lots of impressive, high-resolution images of their business to showcase, Squarespace is definitely a great pick. It may take longer to adapt to all the possibilities and customize the templates to your wishes, but if your priorities are to stun clients with incredible, professional images that are going to magnetically attract them to your business, Squarespace may be the match for you.

Speed and security

Providing its own hosting, Squarespace takes care of issues such as data export, security and speed.  With all those high-resolution images interfering with load time on many platforms, you’ll be extra thankful for the speed boost.

Pros & Cons

Take into consideration: no support for 3rd party apps

Squarespace only supports its own apps (which come as part of the package). If you plan on using special extensions and apps for your business, it will not be a convenient choice. Effective SEO will also require additional knowledge and work.

4. Shopify – a professional online store

Main Features:

Everything for e-commerce

Shopify is about giving online stores all the convenience they need. As a website builder for small business that’s 100% e-commerce oriented, it’s the best tool of its kind. Choose from Shopify’s 100+ online store themes and then supplement your site with the right client apps (over 1,200 available). Plus, keep in mind that Shopify’s 24/7 support is always ready to save your (and your customers’) day.

Mobile online store + global opportunities

Shopify will make it easy for your customers to shop right from their mobile phones with their free, built-in mobile shopping cart features. Also, as Shopify lets you accept payments from 70 different payment processors in different currencies, it will easily take your business to the next level as soon as you’re ready to.

Pros & Cons

Take into consideration: transaction fees

Unless you use Shopify Payment, Shopify will charge a small percentage (0.5 – 2%) for transactions. These fees are additional to the monthly costs, but with all the features available to empower your sales, it may not be a lot to ask in return.

5. Tilda–an impressive but easy way to present multimedia and visual content

Main Features:

Simple but powerful blocks

An innovative new platform which made waves in the website building industry after its launch in 2014, Tilda is the perfect web builder in a literal sense: it makes breathtaking design as easy as stacking blocks. That’s because the Tilda Editor includes over 400+ text, image, multimedia, infographic, interactive, and other content “blocks” for you to drag and drop, stack, and fill with content. Take some time to play around with these blocks on your page and you might never return to ordinary site builders again.

Hidden treasures

One of Tilda’s greatest features is called Zero Block. This awesome, one of a kind custom tool will let you manage typography, draw shapes, and even design animations. Tilda also offers good SEO, data management, and analytics possibilities, and as your site is stored in the cloud, there’s no need to pay for hosting. Plus, e-commerce is very well supported on this platform.

Pros & Cons

Take into consideration: fewer possibilities for text-rich blogs

Tilda uses the same “block-building” approach throughout. While this makes putting up visual and multimedia content super easy, it’s not so great for pages that are heavy on text. So if words are your greatest strength and you need a website or business blog with lots of written information, you should stick to more conservative options.

How Much Does Website Builder for Small Business Cost?

When choosing the best website builder for your small business, pricing options should somewhat factor into your choice. However, there is no single right plan for everyone. It all depends on what stage your business is at now and where you plan to go.

• If price is your priority, we recommend going with WordPress or Wix. With WordPress.org you can pay as little as a few dollars a month for hosting, plus a small annual fee for a domain name.
• On Tilda, which is more of a middle ground in terms of user ability, you’ll get a custom domain and full access to its library of blocks for as little as $10/month (with an annual payment).
• Squarespace and Shopify are geared toward more advanced users. Following free 14-day trial periods, Squarespace Business plans start at $26/month while Shopify will let you open an online store starting at $29/month + transaction fees.

VoIP to Enhance Your Business Website

When selecting that one perfect platform and loading it with amazing content, your goal is to make customers interact with your business. But to do that, you need more than a great site. You must give clients a fast, modern communication tool to connect with you directly.

At MightyCall, we love powerful simplicity. Unlike Virtual Phone System apps, which integrate with certain website builders but not others, our widgets are incredibly simple to use across all platforms. Just copy and paste the html code on your website and voila! – new customers will be just a phone call away.

What we offer:

• Click-to-call widget –
  Watch your client list grow as customers contact you for free, directly from your site, with a single click.

In a world where time is our greatest value and a few seconds may be the difference between gaining and losing a client, taking an extra step always pays back. By creating an attractive, convenient website with just the right features needed for your business, you spark interest. To hold that interest and transform site visitors into returning clients, you must show exactly how customer-friendly and trustworthy your business is. And there’s no better tool for that than live communication.

So What is the Best Small Business Website Builder?

The five website builders featured in this article—Wix, Weebly, Squarespace, SiteBuilder, and WordPress—offer unique benefits, features, and pricing structures that cater to a diverse range of business needs.

While there isn’t a one-size-fits-all solution, by taking the time to understand your business goals and evaluating the offerings of these top website builders, you can make an informed decision that leads to a visually appealing, functional, and user-friendly website. This, in turn, will not only effectively showcase your products or services but also enhance brand visibility and foster customer engagement, ultimately driving your small business towards growth and success.

The post 5 Best Website Builders for Small Business that Put You First first appeared on MightyCall.

There comes a moment in the life of every entrepreneur, when we wonder – can I become something more? How can I expand, reach new audiences and grow using the resources I have and without draining my budget? And if so, what can I grow into?

If you’re also wondering how to change the world through your business vision, a scalable business model provides actionable means of answering those questions. Here’s your guide to taking that vision beyond the familiar horizon – complete with expert thoughts and practical insights on making it happen.

What Is a Scalable Business Model?

A scalable business model is often explained as “agile” or “flexible”. It’s a business operations approach that increases output and profits without largely increasing input. For example, when a business is able to grow sales volume and acquire new customers without expanding staff or investing into development and operations, the business model is scalable by definition.This approach is particularly suitable for online products and services.

Carlos Barros, Director of Marketing at EposNow comments on the capacities of a scalable business:

“With a good scalability model in place, businesses can easily and efficiently increase the number of transactions they process without having to hire extra employees. This saves the business time and money, and allows them to focus on expanding their operations.”

The Difference Between Growing and Scaling

Many an entrepreneur dreams about “growing” their business without draining the budget… and that’s exactly where “scaling” comes in. The difference between the two is in applying more resources into making more revenue versus making more revenue with the resources you already have. Looks like the latter is a great place to start, right?

As JOBM research notes, “For a business model to be truly scalable, it ought to hold the promise of exponential increasing returns to scale.” In other words, it’s not about investing 10% more to get 10% bigger ROI, but about investing 10% more to get at least double the ROI.

Think of it this way: you have 5 lb of apples. You can sell them for $12 total. Alternatively, with the same key ingredients and just a few extra ones you can make 5 apple pies and sell them for $10 each, making a total of $50. The extra investment is minimal but a smarter strategy generates more revenue.

Scaling Drivers

What are the main aspects of a business scalability model? Let’s take a look at something all growth-centric companies have in common:

• Flexibility – an online book store is easier to expand than a physical shop. A local repair shop is easier to take to another level than a large manufacturing facility. See the trend here? The bigger the operations and the more spread out – involving people, physical spaces, and organizational issues, the less flexible the environment and the more effort you must put into expansion.
• Automated workflows – when manual processes are automated on a day-to-day basis, entrepreneurs and teams can put more effort into key business tasks. More applied effort means faster growth, which means more ROI.
• Remote and hybrid work environments – For each employee that works remotely just 2-3 days a week, a company saves around $11,000 annually. Now think of it as the same money that you will invest into growth.
• Easy to replicate – Franchising models are simple to replicate since they don’t depend on unique factors or regulations. This makes them easy to set up and profitable.Your business doesn’t have to be a franchise, but you can build it around a model of simple replication. This is also the way many multipreneurs build their companies.

Scalability Dangers

What is a scalable business gone wrong? Companies that took the plunge without being prepared for fast expansion may notice the following issues:

• Decrease in quality – This may happen when companies fall head over heels for a new opportunity at the price of their current product or service. Always avoid loss of quality by balancing the input directed towards growth with upkeeping your product’s current strategy.
• Coordination issues – With business model scalability in action, your workflow coordination, including team communication, will shift as well. Think ahead of the dangers of poor coordination and address how you will adapt to change, including what team communication and delegation tools you’ll be using at this new level.
• Competitive risks – While it’s natural for entrepreneurs to think ahead, it’s impossible to predict the exact market outcome of how your business will react to scaling. After all, any venture implies a certain risk of failure, and entrepreneurs should research the competition before going into a new market or niche.
• Extra expenses – Scalability is primarily about the ROI you get out of the investments. While it does seek to minimize costs, it would be wrong to think that no expenses at all are involved. Entrepreneurs should be prepared that certain costs will be applicable in the initial stages of scaling, and project how they handle these costs.

Tips to Make Your Business Model Scalable

• Have a clear vision – Where exactly do you want to go? What do you want to achieve? How will expansion influence your current operations? Before you start, learn why you need it and the goal you’re trying to achieve.
• Make the model easy to manage – The simpler your business “ingredients” are to manage, the simpler they are to scale. For example, digital businesses have the most scalable aspects of business models. Conversely, the less your business depends on external resources, the less effort it demands to expand into something more. If you’re exploring business options, here are small business examples to look into.
• Focus on technology and automation – Time is our greatest asset, and automation turns lost time into profitable time. Automation can encompass all areas of business, including: communication (client, partner, and team), sales, development, production, and marketing. Cloud-based tools are doubtless preferable to software or hardware as they adapt to various business sizes and needs.
• Prepare a remote work environment – For each employee working remotely just part-time, a company saves about $11,000 per year. For full-time remote workers, that’s $22,000 in savings per employee. Moreover, when you can hire remote employees and contractors from all over the country or even world without losing productivity, you can keep your business running 24/7 while drastically cutting costs compared to in-house workers.
• Rethink marketing – How can you improve marketing outreach without large investments? Reanalyze your marketing strategy, preferably with expert help and build a roadmap that would include PR outreach, digital marketing, and social media marketing.
• Make the model easy to replicate – One of the staples of a scalable model is how easy it is to replicate, for example, in a different geographical environment or a different market. To take up the pie analogy again – how versatile are your business ingredients? How can you mix and match them to provide more value?
• Be prepared for change – Growing pains are a real thing, in business included. The first few months of incorporating a scalable business model, your team will face new responsibilities, learning processes, and workflow shifts. Plan ahead into how you will address challenges.

How MightyCall can help?

Effective communication, simple management, and workflow automation tools are key aspects of a scalable business model. They are also key aspects of MightyCall’s business phone system that offers a myriad of growth options for business communication.

• Grow with you – Our 30+ communications features for business make it possible for companies of any size to make their business model scalable without feeling like they’ve outgrown their business phone system. Connect as many local, toll-free, and vanity business numbers as you need, add extensions, users, and the features you need as you go.
• Automates routine work – Settings like IVR, auto-attendant, voicemail-to-text transcriptions, and automatic call recording automate communication with customers and partners, saving time on more important tasks.
• Organizes teamwork – When your business grows but your team stays the same in number, workflows need to be more organized than ever. Our system will help you delegate communications tasks, keep track of team activities, and diligently manage the influx of new customers.
• Integrate with other products – Sync your favorite digital tools with MightyCall and perform two actions in the time it took to carry out one. MightyCall integrates with the world’s top CRM platforms, allowing you to combine contact management with communications tasks. It also integrates with countless digital tools through Zapier.

Internal vs External Scalability of Business Model: What’s the Difference?

The difference between internal and external scalability is that of generating growth through the company’s internal resources and growth through expanding external resources. Pankaj Srivastava, Co-Founder & CEO of ClinicSpots, comments in more detail:

“Internal scaling refers to changes made within the company, such as expanding the business model, adding new resources or personnel, or increasing digitalization. The external [method] encompasses changes in the company’s values, business environment, or markets.

“Both have their own set of pros and cons. The internal [method] is often seen as less risky because it doesn’t require as much investment or change. However, it can also be more difficult to execute and may not lead to the same level of growth as external scaling. [The latter], while riskier, has the potential to lead to greater growth and expansion.”

Strategies to Scale Your Business Model

There are two main options when it comes to expanding business, called external and internal scalability. External scalability is taking your company to new markets, audiences, and investors. This process may involve more risk and investment, but, when carried out correctly, unleashes maximum growth potential. The internal method leverages existing company and team resources to do more. This is the easier and less risky method.

Internal Business Model Scalability

1. Form a strong team – it’s not how large your team is but how well responsibilities are delegated and carried out. Make sure that communication is streamlined and all activities coordinated between team members, allowing you as an entrepreneur to focus on key tasks.
2. Work with feedback – building an MVP business model (more on that below) and perfecting it through customer feedback is the fastest way to achieve internal scalability. Starting with a simple product/service version, you use the feedback loop to discover customer wants and make your brand more scalable.
3. Automate routine tasks with digital tools – We’ve already talked about automation, and rethinking how you use technology is another great asset base. On the other hand, you may also consider the digital tools you currently use – how well do they integrate with each other, how comfortable is your team using them, what can you improve?

External Business Model Scalability

1. Target new customers – When was the last time you updated your buyer persona? If it’s been a while, you should do so now. Research your current audience and think what yet non targeted groups can benefit from your product. Then a/b test your hypothesis with a new audience.
2. Expand into new markets – To exponentially scale the business model, a company may enter a national or even international market, extend a branch of the product, cooperate with new partners, change manufacturing, development facilities, or form new business ties. Or it may be just as simple as giving your local shop an online presence.
3. Build new bonds – Network and communicate in the area where you want to expand into. Are you exploring a new niche? Talk with entrepreneurs in that field. Looking to automate certain processes? Find out firsthand what digital tools helped businesses of your size and budget.

Patterns of a Scalable Business Model

“We started with one website, and now we have six. We cross-utilize resources, mainly
people, for all the sites, so our revenue has grown at a much faster pace than our expenses. That is essentially the definition of scaling and its benefit in a nutshell. We can grow our revenue and drastically improve our margins at the same time.” – Carolyn Young, Business Specialist, Step by Step Business

All scalability business models have key aspects in common. These patterns help them preserve funding for growth and vital operational aspects.

• Wide-scope distribution – think of new sales and marketing channels to target your product through, and how to attract new audiences. This can mean growing digitally, nationally, or even taking your company to an international level.
• Outsourced minor operations –give yourself the space to perform key operations that only you and trusted team members can perform. Other tasks can be transferred to a reliable outsourcing partner.
• Teaming up with partners and customers – turn partners and customers into enthusiastic promoters of your product. Create a loyalty program and rewards for active promoters.
• Merging efforts with B2B – create referral and affiliate programs for B2B. Think of the businesses that can complement yours, helping both of you double the revenue through partnership, not competition.

Components of Scaling Your Business Model

“Think about how decisions made as part of your business growth plan might impact you if you were a customer. They can become your strongest ambassadors and help in generating revenue if you anticipate their demands at every level of the process.” – Peter King, Co-Founder, Authority Builders

• Effective management – Organized workflows, clear communication, and automated teamwork ensure that your business is scalable and runs smoothly. If the company operates in more than one location or in both online and offline environments, building a consistent management model will streamline operations and enable effective growth.
• Cross-utilizing resources – Think back to the apples example: how can you create more “recipes” with the ingredients you’ve already got? By cross-utilizing resources and people, how can you offer new or better services? How can you update your product or service without rebuilding it from scratch? And what about approaching existing clients to help bring in new ones?
• Standardization protocols – A scalable business product or service should be built around a set of standards and metrics that act as its market shield. This doesn’t mean that your product should be “standard” as opposed to “unique”. What this means is that your organization applies and follows a smart, unified set of guidelines in its product/service development, sales, marketing, advertising, investing, commerce, and other business aspects.

Roadmap for Building a Scalable Business Model

To take your business to new places, grab a piece of paper and take time to consider the following aspects. Later, you may complement them with examples for developing a scalable business model in the section below.

1. Think in fixed costs vs. variable costs

Building scalable business models is about striking the balance between two types of costs that a business meets with and seeing how they impact or stall growth. Jessica Martin of Rockholder explains this method.

“The key to a scalable business idea is to have a small number of fixed costs and a large number of variable costs. Fixed costs are costs that don’t change as the business grows, such as office rent, employee salaries, and insurance. Variable costs are costs that scale with the business, such as materials, shipping, and customer service… This allows the business to [grow] quickly and efficiently, without sacrificing profitability.”

She remarks that subscription-based software-as-a-service (SaaS) businesses, such as Salesforce, Zoom, and Slack all have low fixed costs and high variable costs. That’s why they can quickly add new customers and scale their businesses without sacrificing profitability. This is the model that works best for digital businesses. On the other hand, franchise model companies like McDonald’s, 7-Eleven, and Ace Hardware have high fixed costs, but due to low variable costs they are able to keep the balance and profits.

2. Understand what works for you and answer the following questions

1. How scalable is the business model I currently have? What can I change about it to foster growth?
2. Who’s my role model/success story in the market/niche I want to expand into? Why do they excel at this niche? (List all the reasons you can think of. Ask your friends/relatives/colleagues for their opinions as well)
3. How digitally optimized is my business currently? What automation aspects can I work on?
4. Am I focusing just on increasing sales, or on beating the competition or expanding into new niches and markets?
5. What steps can I take to leverage existing resources through affiliate marketing, partnership programs, and other cooperation with partners and customers?
6. How competitive is the niche or market we’re expanding into? What is the value of entering it?
7. What aspects of our business mindset do we need to change in order to attain scalability and facilitate entry into new markets and exponential growth?
8. What aspects of business operations/workflows/organization need improvement?
9. What’s our budget and how will we prioritize it?
10. Are we staying focused on quality or just quantity? Is our customer service ready to handle an influx of new customers? How can we ensure that our service stays top notch?

3. Perform a reality check and map out implementation

When you’ve considered the questions above, organize them based on priority. For example, put your main focus and weakest spots at the top, and feel free to disregard issues that don’t apply. A great idea is to answer these questions with your team or a key group of employees. Brainstorming will open up new ideas, help you perform a collective reality check, and map out the fastest implementation route.

Scalable Business Model Examples

Let’s take a look at the three most popular scalability models in practice. These are particularly well suited for the online business industry, but with certain modifications can be applied to any company.

MVP model

A Minimum Viable Product (MVP) is the bare bones model of a product or service that’s preparing for rollout. This may not sound as exciting as a fully customized model, but if you’re preparing for expansion, an MVP model provides the least investment with the prospect of utilizing the feedback loop for each further upgrade.

The philosophy behind MVP models is simple: offer more when people ask you for more. Not earlier.

Example of a scalable MVP model: Amazon

You may know that Jeff Bezos, one of the world’s richest people, started Amazon as a simple … online bookstore. He bought the books from distributors and shipped them to customers via his online store. When he saw the store becoming more popular, he gradually stocked up on other goods, in addition to the books (see the scalability model in action already?). Over time, more and more merchants started adding their products. What started as a very simple enterprise ended up as the world’s leading marketplace – all via feedback and demand. There you have it: a classic MVP example.

Freemium model

Another inherently scalable business model example is the freemium product model. This is a model where a product or service has several pricing tiers, one of which is a free product version. Usually, the free option is a basic trial of the product – it provides limited functionality. Some of today’s most popular digital products including Skype, Dropbox, WordPress, Trello, etc. either started out as freemium or offer it to this day.

The philosophy behind a freemium model is a hook: knowing they’ve got no money to lose, people willingly try the free option and then upgrade.

Example of a freemium model: HubSpot

One of the most popular CRM systems, HubSpot still offers a free plan. Standing in wide contrast to the much more expensive options, it acts as an introduction to HubSpot or as free onboarding. Then, once businesses see how easy it is and need CRM features not included in the free plan, voila! HubSpot is here with their exceptional paid plans. Offering a free basic product version is a simple way to make a business model scalable since it doesn’t cost much investment, time, or effort – you just downgrade your “standard” version and offer it as a separate option, leading to an influx of new customers and greater market visibility.

The sharing economy model

The sharing economy model scales effectively because it leverages human to human interactions to increase revenue. Whether it’s building your partnership network or finding new, experiential ways to engage customers, it’s built around connection. This model can also be combined with others, for example with the marketplace model. It can include commissions, membership/subscription fees, fee-based loyalty programs, listing fees, fees for advertisements/publishing/reviews.

The philosophy behind the sharing economy model is to generate revenue through building a wide partnership network with customers and partners and earn commissions from providing services.

Example of the sharing economy model: Airbnb

What was to become the world’s hospitality industry disruptor, Airbnb, started as a hustle to help roommates Joe Gebbia and Brian Chesky pay for their San Francisco rent. Ahead of a large design conference that had most hotels booked, the guys decided to advertise their loft with air mattresses, a working desk, and breakfast included. From there, the business turned into a marketplace model, with the website earning commissions from the sealed deals. However, the scaling didn’t stop at that – in recent years the company added “Airbnb Experiences” in addition to lodging– a new way of looking at travel by connecting locals with tourists in tours, masterclasses, and other cultural experiences. It didn’t take a lot of money to create “Airbnb Experiences” – the people did all the work themselves and the website just earned more commissions. A great example of the sharing economy at work.

A Scalable Business Model Is a Long-Haul Investment

Scalability isn’t a quick fix – it’s a daily investment into variable aspects of your business, it’s frequent a/b testing to know the difference between your projected audience and your factual audience, it’s staying agile to new market opportunities.

Most importantly, scaling your business model is about forming a clear vision of who you want to become, drawing a plan of how you will get there, and taking a fresh look at the human resources and digital resources to make it happen. See a new opportunity, niche, or market? Be curious enough to experience it and you never know where that experience will take you.

The post Scalable Business Model: What Is It & Is It Right for You? first appeared on MightyCall.

It seems like the market’s massive pool of products offers endless options. But in fact, this overwhelms our ability to know where the best-fitting product is. Meanwhile, a product that’s not scalable to your needs will both drain your time and your wallet.

Below, we’ll offer a comprehensive phone system features checklist for an SMB-centric business phone system. Simply underline the most important aspects for your business and grab this list with you when comparing and contrasting several providers. Let’s go!

What to Ask Before Getting a Business Phone System

Before reading the list below, get a pen and paper and note down the answers to the following questions.

• How big is my team?
• Is your team distributed?
• What communication tasks do you need a hand with?
• Are you a growing business?

We’ll answer all of these questions in the course of the post, so be sure to check our specific recommendations below each feature!

12 Essential Business Phone System Features

1. High-quality business calls from any place and any device

For anyone working out of office, out of state, or even out of country, Voice over IP (VoIP) technology has made business communications as smooth and simple as ever. Thanks to a VoIP business phone system, you can take your business calls from anywhere in the world with WI-FI or Internet connection, without being stuck to a landline or mobile service provider.

When your business communications aren’t tied to a specific device, your hands are untied and you can effectively multi-task. A business phone system unties your hands by routing your business calls to as many (or as few) devices as you wish. For example, you can route it to your IP desk phone, laptop, PC, mobile phone, iPad or tablet — or just one or two devices. This means that you are in charge of when and where to receive important calls — and this goes for your whole team! Each employee will be able to choose which devices to route their calls to.

Not being tied to locations and devices means not only mobility and versatility but safety as well. Small business owners can move to anywhere in the country or the world,  while their business communications continue to sail as smoothly as if you lived next door to the office.

This feature is ideal for:

Solopreneurs and teams of all sizes

All communication tasks

Distributed teams

2. Call recording

Call recording is an essential business phone system feature for companies that do a lot of sales and get a fair amount of customer feedback via the phone. Instead of writing notes during the conversation, you can now just write down essentials, and always go back to a conversation to listen to anything you’ve missed. Call recording is also a great way to safeguard yourself against any possible legal disputes. Learn more about how to benefit from call recording as a small business.

This feature is ideal for:

Sales teams and specific industries

Managers and supervisors

Growing businesses

3. Voicemail to text

Listening to voicemail may seem like a small thing, but a small business spends 2-3 hours per week on average listening to voicemails. Don’t you have better use for that time? Exactly! This is why voicemail to text is such an important business phone system feature. It lets you save precious time by transcribing your voicemails into text format and sending them to you as emails. As a result, you can run over a text voicemail in a few seconds and react to it appropriately instead of listening for several minutes.

This feature is ideal for:

Busy solopreneurs and teams of all sizes

Businesses with medium to heavy voicemail loads

Growing businesses

4. Modern voice menu

A voice menu, or speaking technically, IVR (Interactive voice response) is what people hear when they call any professional business. But unlike in past times, when it cost a business solid money and only big companies could afford it, even a solopreneur can have a professional voice menu today. If you’re not a fan of auto-attendants and prerecorded messages (press 1 for x …press 10 for y), don’t worry. A small business’s voice menu should be simple, informative, and quickly allow transfer to the right person on your team.

A business phone system has all of those features on the voice menu: call routing to any team member, appropriate extensions, and an auto-attendant that can answer during after-hours, or to provide important information such as hours/location of your business. Need more advice? Check out our 5 steps to a perfect voice menu.

This feature is ideal for:

Solopreneurs and teams of all sizes

All communication tasks

A professional touch for solopreneurs and very small business

5. After-hours call routing

We all know the adage: to work well, one needs to rest well. But if a regular person can afford to not pick up the phone after a certain time (or just when you’re not feeling into it), a business person can’t. Each time you miss a call, you miss a lead, and a potential customer. So how does one ensure privacy in a small business setting, where you’re more often than not short not only on time but on hands as well?

That’s where after-hours call routing comes in. This business phone feature lets you decide when to take business calls, when to route them to another team member’s device, and when to direct a call to voicemail. You can also set up different settings for different folks. For example, if you have several VIP callers that you want to be available for 24/7, you can adjust settings so those numbers always get routed to your phone. Meanwhile, calls from other numbers will be routed to a different team member or voicemail.

This feature is ideal for:

Solopreneurs and teams of all sizes

All communication tasks

6. Text to voice greetings

Many of us wish we could have professional voicemail greetings but just don’t have the extra money to pay a professional voice artist, or the skills to do it ourselves. Some people downright hate the sound of their voice when recorded, so this may not be an option you’re exploring for business.

Nevertheless, for a small business, it’s nice to have greetings that sound professional. This is where a service like Amazon Polly comes in handy. Even though it’s an auto-generated text-to-voice transcription service, Amazon Polly is a stable alternative for those businesses that need custom voice and auto-attendant greetings, but have no opportunity to pay a professional voice artist to record them.

When you get a business phone system like MightyCall, you don’t need to spend time setting up Amazon Polly by yourself.  Just drop us the text for your voice greetings, and we’ll send you the transcribed audio files from Amazon Polly — for free.

This feature is ideal for:

Solopreneurs and teams of all sizes

Businesses with an economy-sized budget

7. Team availability

One of the questions we often hear with entrepreneurs who have 3-5 team members is: why can’t we use a free second phone number, or a second SIM card, and just use that as our business number?

If you’re just a freelancer or solopreneur with a handful of clients, that might work for you, as long as you’re willing to forego all of the above professional features. But if you’re a team of 2 or more people, you also need a business phone solution that keeps you on the same page.

A virtual phone system for business has many amazing team features that automatically sync to all of your employees’ devices. Your team can work from a beach chair in Hawaii, and still answer business calls as “Jack’s landscaping from Montana”!

This feature is ideal for:

Teams of all sizes

Distributed teams

All communication tasks

8. Built-in CRM

A small or very small business doesn’t have the same needs as a large business. That’s why it needs technology that scales to its size while offering the same kind of powerful reliability as large business demands.

A super useful feature of MightyCall’s VoIP is its very own Contact Book Plus with Built-in CRM. This CRM functionality allows you to save leads and share comments and details with all your team members. This contact book is nowhere near the one on your phone.

It automatically syncs on all of your team’s devices, and a new lead and comment added by one team member is instantly visible to your whole team — be it 2 or 200 people! And if you need more help on choosing CRM for your business phone system, check out this post on how to choose a CRM solution for small business.

This feature is ideal for:

Solopreneurs and teams of all sizes

Growing businesses with an increasing client base

9. CRM integrations

The hallmark of great technology today isn’t just being a standalone product. It’s the ability to integrate with other apps for an ultimate user experience. While it’s possible to have a dozen different apps open on your computer, constant multitasking will either make you forget an important task when it comes or constantly overthink.

The best small business phone systems go this extra step and build integrations with other apps. For example, MightyCall natively integrates with top CRM platforms like Salesforce and HubSpot, allowing you to manage your business contacts and make calls from one place.

This feature is ideal for:

Solopreneurs and teams of all sizes

Managers and supervisors

All communication tasks

Growing businesses

10. Multi-level IVR

In addition to our regular IVR (described above in the section “Voice menu”, MightyCall now supports the multi-level version of this feature. Multi-level IVR is a voice menu with additional “levels” or sub-menus. This phone system feature for business is useful for companies that have several offices operating under one business number — for example, you can prompt the caller to “Press 1 for the Manhattan office”, “Press 2 for the Long Island office”, and then, following the caller’s input have a second sub-menu like “Press 1 for Support, Press 2 for Sales”, etc. The max number of sub-menus you can have is 10, but for customer usability reasons we don’t recommend overdoing it.

This feature is ideal for:

Bilingual companies

Companies with two or more office locations under one number

National/ international companies

Call centers

11. Texting and MMS

MightyCall’s texting feature allows to send and receive business SMS from your local or toll-free business number. This business phone feature is very convenient since you don’t have to get a special short-code number for business texting. You may also send MMS or multimedia messages with MightyCall. The multimedia format is used for sending images, GIFs, audio, video, and document attachments, and supports a variety of formats.

This feature is ideal for:

Companies of all sizes

SMS and MMS marketing

Quick information delivery and follow-up

12. Privacy and security

In recent years, we’ve seen how with its fast-paced development, technology is often ahead of the curve, and sometimes, (hello, Facebook) privacy and security lag behind the service itself.

This is why modern phone systems for small business focus a lot of their efforts on user privacy. Features such as anti-spam, robocall protection, and encryption, guarantee that the users’ privacy is important for the VoIP company and it constantly works on improving privacy and security.

A virtual phone system like MightyCall also has special privacy features with caller ID. For example, you can instantly know whether an incoming call is someone dialing your MightyCall business number, or it’s a friend calling your private mobile number. This way, you can choose to respond to the call accordingly, and know if it’s OK to skip or call back.

This feature is ideal for:

Solopreneurs and teams of all sizes

All communication tasks

Distributed teams

Get the Phone System Features for Business That Keep on Growing

Above, we’ve covered the key business phone features that any business needs. Each of these features will give you a professional, competitive, and engaging presence in the market and are essential to cover business communication needs.

Meanwhile,  if you’re in the process of looking for a reliable, award-winning business phone system at an attractive price, MightyCall can help you set up business communications from scratch or take over your existing solution. You’ll have all of the above functionality, plus 30+ communication features that we designed for small and medium-sized businesses. We also have a free trial on all plans — check it out today!

The post 12 Essential Business Phone Features first appeared on MightyCall.

Here’s all you need to know to make NPS part of your business strategy – in fact, you’ll be surprised at how simple but powerful this metric is. All you need is the answer to one question!

Navigate:

• What is NPS?
• Transactional and relational NPS programs: What to use?
• Why is NPS important?
• How to calculate your Net Promoter Score?
• NPS survey questions
• How to collect NPS feedback
• How to read NPS survey results
• How to interpret Net Promoter Score
• How we put NPS data to use at MightyCall

What is Net Promoter Score (NPS)?

Net Promoter Score (or NPS) is a potent metric showing customer satisfaction and customer loyalty in one simple number. Business strategist Fred Reichheld first described the concept of NPS in 2003 and coined the term “Net Promoter Score”.

Reichheld’s discovery of the NPS metric was based on the observation of successful companies and added to years of customer research. Reichheld found that the essence of customer relationships – both happy and poor ones – boils down to how consumers answer one question: how likely they are to recommend a product or service to someone else.

Once Reichheld realized this, he figured that, instead of posing this question in the (usually ignored) customer experience survey, it can be isolated into an exclusive metric. To calculate this metric, you don’t need any complicated formulas.

Transactional and Relational NPS programs: What to use?

Businesses have two ways of evaluating their Net Promoter Score, called “Transactional NPS” and “Relational NPS”. The two can be used interchangeably or individually.

A Transactional NPS survey measures customer satisfaction after a certain transaction or special interaction with a customer takes place. It works best for medium to large businesses that have many transactions going on and need to evaluate their weak/strong points based on those transactions.

Send Transactional NPS surveys:

• After registration
• After a new order
• Following communication with a customer (customer tickets, calls, messages, etc.)
• After product/service installation or download
• After making changes to the product or service (upgrades/updates/subscription changes, etc.)

A Relational NPS survey measures standard, day-to-day interaction with a customer. It shows your relationship on a daily basis. No matter how big or small your business is, you’ll benefit from regular data gathered by such surveys.

Send Relational NPS surveys:

• To define customer satisfaction on a regular basis
• To evaluate company performance without reference to a specific product/service
• At set intervals of time. Quarterly or twice a year is an optimal choice.

Why is NPS important?

When Reichheld revealed NPS to the world in Harvard Business Review, he titled that article “The one number you need to grow”. In fact, NPS is quite an amazing metric because it focuses on the number of clients who aren’t just “users” of a product or service, but its active promoters (read: cheerleaders).

Knowing the NPS score of a product or service will help:

• Evaluate customer experience
• Demonstrate customer loyalty
• Show market competitiveness
• Provide important data for sales, marketing, and product development
• Help adapt the business/product strategy

NPS is a highly effective tool for companies with various subscription plans, product/service lines, buying options, etc. This simple but powerful metric clearly demonstrates which product line, subscription plan, etc. secures the most loyal customers, is most competitive and has the most potential for growth.

For example, at MightyCall, we segment our NPS survey based on different subscription plans and user categories. However, we exclude those clients who’re just completing their trial. Remember that you want to understand your most enthusiastic audience, so if you have a free trial plan, those users shouldn’t be included in the NPS survey.

How to calculate your Net Promoter Score?

NPS scores are based on a one-question survey that customers answer using a rating of 0-10. To calculate NPS, you take the percentage of customers who gave you a grade of 6 or lower (“Detractors”) and subtract it from the percentage of customers who gave you a 9-10 (“Promoters”). Those who replied with a 7-8 rating (“Passives”) aren’t counted.

For example, let’s say 40% of your customers are “Promoters”, 45% “Passives” and 15% “Detractors”. You’ll need to subtract: 40-15 = 25. This means your NPS score is 25.

NPS scale

The Net Promoter Scale is a unique metric that segments customers into 3 groups: Promoters, Detractors, and Passives.

Promoters – Promoters are your happiest customers. They’re the ones who replied to your NPS survey question with a solid 9 or 10.
Passives – This group neither likes nor hates your product or can’t make up their mind. They are the ones who give a 7-8 rating on the NPS survey.
Detractors – Detractors are your least satisfied customers, the ones who have problems with the product or service. They replied to the survey questions with a 0-6 rating.

?Important: Although NPS takes all three customer groups into account, the NPS score itself is calculated only from the grades given by Promoters vs. Detractors. The particular thing about an NPS score is that it bypasses the percentage of lukewarm (or “Passive”) customers altogether.

NPS survey questions

NPS surveys are generally based on one simple question:

“Based on a scale of 0-10, how likely are you to recommend us to your friends or colleagues?”

Sample Relational NPS survey questions:

• “Based on a scale of 0-10, how likely are you to recommend our company to someone you know?”
• “Based on a scale of 0-10, how likely are you to recommend our product to your friends or colleagues?”
• “Based on a scale of 0-10, how likely are you to recommend our service to your friends or colleagues?”

Sample Transactional NPS survey questions:

• “Thanks for registering with us! Based on your registration experience, how likely are you to recommend us to your friends or colleagues?”
• “Thanks for the purchase! Based on your buying experience, how likely are you to recommend us to your friends or colleagues?”
• “Glad to help you! Based on your experience of contacting our support team, how likely are you to recommend us to your friends or colleagues?”
• “Thanks for installing [product X]! How likely are you to recommend it to your friends or colleagues based on this experience?
• “Welcome to our updated product version! Based on your experience, how likely are you to recommend us to your friends or colleagues?”

How to collect NPS feedback

When you’ve decided on the kind of NPS survey(s) you’ll be gathering, there are several ways to collect feedback from your customers. Below, we’ll take a look at the most popular

Website survey

A website NPS survey is a customer feedback form that pops up on your website or in-product. It can also be a pop-up in the mobile version of your product or service (or a mobile app, if you have one).

Email survey

If setting up a pop-up takes too much time or you aren’t that tech-savvy, send a simple NPS survey by email. This survey must include the questions with the scale for rating customer experience and may include a follow-up question where the customer can in their own words express their experience of the product or service.

Phone survey

For businesses that don’t have large online audiences, including local businesses and services, it’s optimal to carry out a phone survey. Be prepared for dropped calls, but the upside here is that you can get a lot more feedback from live interaction compared to a pop-up or email survey.

? Important: Regardless of the chosen method of collecting feedback, it’s highly useful to include a direct follow-up question to gain insight into why your customers view your product in such a way. If using a pop-up survey or email survey, you can set an automatic follow-up question based on the given score. If doing phone surveys, instruct your customer service agents to ask this question.

Sample follow-up question for Promoters: “We’re grateful for your feedback! If there’s anything you specifically enjoyed about our product, please share below!”

Sample follow-up question for Passives: “Thank you for the response. Please let us know how we can improve our service to serve you better.”

Sample follow-up question for Detractors: “We’re sorry your experience with us didn’t go well. Please take a moment to share your problem so we can improve our service.”

How to read NPS survey results

Now that you’ve received your NPS surveys back, let’s see what we can do with the results. Although NPS is based on a genuinely simple concept, it can also provide in-depth knowledge about where your company is going. The amazing thing about NPS surveys is that you can make them as simple or advanced as you want.

• Segment your data – If you’re just starting out with NPS, knowing your company’s general NPS score is a great starting point. However, if you’re an experienced user, we suggest segmenting NPS data by criteria such as gender, age, location, new customer/returning customer, the type of subscription or service bought/provided, etc.
• Keep tracking results – The more data you have, the more ROI you’ll get out of it. Establish set intervals for sending out NPS surveys, such as quarterly. After just 18 months, you’ll have 6 different data sets to compare, contrast, and segment.
• Present the information companywide – NPS data shouldn’t stay locked up in your Business Analyst’s desk. Share it with the Product, Marketing, Sales, Customer Service, and other departments that have relation to your product/service and customers.

How to interpret Net Promoter Score

You know the saying, “One man’s love boat is another’s Titanic”? The same holds true for NPS scores. One and the same number could mean a great achievement for one industry and a total fiasco for another. Let’s take a closer look at how to interpret NPS scores.

What is a good NPS score?

A good NPS score is one that’s aligned with the average metrics for its industry. The numbers widely vary and range from 30 in telecommunications to nearly 60 in healthcare. Generally speaking, an NPS over 0 shows that you have more happy customers than grumpy ones, which is good news. However, a score of 0 may only be acceptable for very new businesses that are just figuring out their customer strategy.

What is a bad NPS score?

Since NPS scores vary widely by industry, a bad NPS score is one that falls out of the acceptable industry range. However, regardless of industry, if your score is -X, that’s a big red flag. A negative score signifies that a company has more Detractors than Promoters and that a product or service is losing customers.

Median NPS scores by industry

As we mentioned above, you should always check your Net Promoter Score against the average for your specific industry. Here’s a list of the most popular industries and their median NPS scores.

How we put NPS data to use at MightyCall

The IT and telecommunications sector is notorious for some of the lowest NPS scores in the industry. For example, AT&T has an NPS score of 15 while the NPS of Verizon descends all the way down to 7. The reasons behind such poor ratings are usually connectivity issues, billing problems, hidden fees/charges, and poor customer service.

At MightyCall, we started measuring NPS in 2019 and immediately made it a priority to focus on the aspects that give the most pain to telecom clients: connectivity, customer service, and product usability. The NPS survey feedback we gathered and analyzed has been an immense shortcut in growing both customer satisfaction and ROI.

What we do with NPS data at MightyCall:

1. Segment NPS data based on user plans – this allows us to see which plans have the most loyal customers, are more competitive, etc. based on the NPS score
2. Segment the data based on user roles in our product – this gives a glimpse into the user satisfaction based on their product usage (e.g. admins vs. regular users)
3. Follow up with direct feedback (comments) – for an in-depth overview

It’s important to note that getting detailed feedback from both Promoters and Detractors is highly valuable for a company, especially in the ultra-competitive SaaS industry.

Getting detailed feedback from Promoters helps:

• Understand the strong points of the product
• See positive trends from gathering comments several years in a row
• Understand the language of our loyal customers – the words they use most often to describe what they love about the product

Getting detailed feedback from Detractors helps:

• Understand the challenges needed to solve in order to gain more loyal customers
• Identify negative aspects before they have a chance to become trends
• See what language customers use to describe their pain points since language is often the most emotionally telling way of communicating a problem

Remember how Reichheld titled his article “The one number you need to grow” (not just “know”)? To understand if your NPS score is growing, by what percentage, and in what directions, you should be analyzing those numbers back to back over a few years. For MightyCall, consecutive NPS analysis added to other customer research has been a major factor in forming a prioritized product roadmap.

Coincidentally, since starting to analyze our NPS in 2019, we’ve received some very special awards, like making the Inc.5000 list as one of the “fastest-growing private companies in the U.S.”. Moreover, reviewers constantly mention our “excellent customer service”. So today, whenever we talk about NPS, we gather the whole team for the meeting. Colleagues from departments like Programming, BA, Marketing, and Sales all have a lot to learn from NPS data and a lot to brainstorm later.

NPS is the fastest way to grow your business

At MightyCall, our team discovered that our growing, consistently above-average NPS score is a lot more than a number. Growing our NPS score directly correlates to growing our product and vice-versa. And every day, that reflects in increased customer loyalty, high-quality reviews, and top industry awards.

To make NPS work for you just like it does for us, keep these tips in mind:

• An NPS score is calculated from a single-question survey sent out to customers, excluding trial customers
• A good NPS score varies widely by industry but is generally 30 and above
• Segment NPS results based on your product/service categories, plans, and users
• Supplement NPS scores with feedback from both Promoters and Detractors
• Present NPS data and feedback to your extended team and brainstorm it together.

The post What is NPS and How We Use It to Improve MightyCall first appeared on MightyCall.

Unlike last year, when taxpayers got a break until July 15th to file their taxes due to the storm of COVID, this year the IRS has been a lot less compliant. The tax season has been pushed to May 17th only for individuals (not sole proprietors), in what seems like an inappropriately early effort to get “back to normal” as the country balances on the brink of a fourth wave of the pandemic.

Precisely because it’s 2021, the last thing small business owners want to do this April 15th is to wreak more havoc in their business lives through grey areas in small business tax affairs. And for many, those grey areas are tricky deductions on small business expenses. In this delicate matter, the difference between what’s on the menu (on the IRS website) and what’s on the plate (on your tax return) can be a big — and sometimes unpleasant — difference.

Which brings us to a tricky question: If you can prove it, can you deduct it?

To set the matter straight — and hopefully get some sweetness back into April, I’ve talked to Mike Schlect, Tax Partner at Deloitte — the global consulting, tax, and advisory services firm, and Tom Wheelwright, CPA, and author of ‘Tax-Free Wealth’. Here’s their list of small business tax deductions you’ll definitely want expert help with this year, and some you may choose to pass on altogether.

1. Home office

With remote work at a record high and many entrepreneurs having moved business into their homes, the “home office deduction” is the most anticipated one of the 2020–21 tax season.

The IRS guidelines for the home office deduction seem simple enough. They constitute just two points that you have to meet. However, this is where things get tricky, explains Tax Partner at Deloitte Mike Schlect.

You may be allowed to deduct certain home office expenses for tax purposes calculated on a pro-rata basis. A room or “part” of your home or dwelling will be considered to be occupied for the purposes of trade if both of the following requirements are met:

• Such part is specifically equipped for the purposes of your trade, namely your employment, profession, etc.;
• Such part is regularly and exclusively used for the purposes of your trade.

Sounds simple enough, but beware of the wording, Schlect points out.

The concern is “exclusive” use and how one proves to the satisfaction of the government that the home office was not used for any personal purposes.

Basically, if you plan on getting a home office deduction, you will have to calculate the ratio of your house used for your home office and prove that this space isn’t used for any other purpose than business.

Now, here is the catch — in case of an audit (and the IRS plans on increasing SMB audits by up to 50% this year), every clue as to your office space being anything but immaculately business-driven will disqualify you from a home office deduction. Case in point? Personal financial records stored in a remote corner of your office cabinet.

Small business owners claiming this deduction must be prepared to show photographic proof of their home office, move all personal items (such as non-business books, personal files, and any personal memorabilia) out of the space designated for a home office, and be prepared for an audit.

2. Business gifts

Occasion often demands business partners and clients to exchange gifts and memorabilia. The good news here seems that these expenses seem pretty easy to prove by just storing the receipts, whether paper or electronic. However, the catch lies elsewhere, Schlect says.

Business gifts are deductible but only to the extent of $25 per person during each year. If you have a spouse, the limit remains $25. Concern is also for gifts that could be construed as entertainment — those cannot be deducted generally.

Moreover, according to HR Block, tax-deductible business gifts must be:

• Ordinary and necessary to your business
• Given to current or prospective clients

For most business owners, $25 is an awfully minimal amount to spend on business gifts. Even a gift as simple as branded merchandise will usually cost you more to print and produce. Considering the fact that you can deduct no more than $25 of business gift costs, and proving these as necessary may be tricky, it may be worthwhile to skip this deduction altogether.

Photo by Inesa Cebanu on  Unsplash

3. Meals and entertainment

Business meals generally fall into two tax categories: 100% deductible and 50% deductible. Basically, meals for essential business events, charity, and food industry businesses providing meals to employees, are up to 100% deductible. However, coffee, soft drinks, bottled water, donuts, cookies, fruit and similar office snacks provided to employees are 50% deductible.

The harder meals deduction to get is business meals with clients and partners. Lacking meticulous documentation, expenses like these can be brushed off as entertainment, Schlect says.

For tax year 2020, meals can be deducted at a flat 50% of the expense, but no entertainment expenses are allowed generally. Proper substantiation remains an important factor in documenting the costs of meals.

To get the deduction for business meals with clients/partners, you must document not only receipts, but the date of meetings, names of meal partners, the reason for the business lunch/dinner (must be beneficial for your business), and even a summary of the conversation. Moreover, the business owner must be present at the meal themselves.

Unless you have records in order for each business lunch, passing on this deduction may be the way to go. While you may not get those $100 dinner bucks back, you’ll at least keep yourself from the nightmare of remembering every business lunch you’ve had and why. Especially since 2020 hasn’t been keen on socializing.

4. Excess business losses / passive loss limitation

As per IRS rules, “an excess business loss is the amount by which the total deductions attributable to all of your trades or businesses exceed your total gross income”. In other words, if your business expenses are higher than your earnings, you’re eligible for a deduction. However, note several changes coming this year, Schlect says.

For 2020, taxpayers are generally allowed to deduct all losses from their business against non-business (portfolio income). This is a change from prior law under the CARES Act. For 2021, for taxpayers with large non-business income, business losses will be limited to only $500,000 (married filing joint) or $250,000 (single filers).

According to Schlect, while many businesses are eligible for the excess business losses deduction, be prepared for a thorough IRS inspection and a flat refusal if any documentation is missing.

To be subject to these rules, the activity carried on by the owner needs to be non-passive (i.e., active). In addition, if the owner does not run/manage the business a significant amount of time each year, the loss will be passive in nature, which will require that loss to offset only other passive income. Proper tracking of hours and substantiation of positions is needed to withstand IRS scrutiny.

An important yet tricky deduction for eligible small businesses, especially in an economically straining year, if you plan to file for the excess business losses deduction, it’s advisable to consult a tax professional.

5. Car miles and business travel

For small business owners that frequently travel, including by personal vehicle, another anticipated deduction is business travel. Another beacon of light from the IRS, in practice it turns out to be another challenge from the IRS.

As Tom Wheelwright, CPA, and author of Tax-Free Wealth says,

Travel is difficult because you must prove that the primary purpose of your travel was business.. This means showing that more than half of each day was focused on business that could not have been done had you not traveled to the location.

Once again, the IRS prohibits business travel expenses that fall under the category of “lavish or extravagant, or that are for personal purposes”.

While travel by air, train, bus, or car, and hotel stays are all eligible for a return, most often, small business owners will travel by car and attempt to deduct miles. If that’s you, Wheelwright suggests turning to technology for help, unless you want to do things by hand which may not be as effective.

Automobile expense requires contemporary mileage logs. While there are many apps to do this, a lot of business owners don’t want the app developers to have the data regarding their travel, so they are left with mileage logs they create by hand.

While the decision is yours, car miles, unless minutely recorded, are a highly tricky expense that will most probably not show up on your income tax return. However, if applicable to your business, be sure to file for deductions on expenses like airplane travel and hotels as long as they can be proven exclusive to your business needs.

Summary

Hands down, what you’ll want to do in a fiscal year as economically strangling as 2020–21 is to get the most deductions out of your small business.

That said, bear in mind that just because it’s on the IRS website doesn’t mean it will show up on your income tax return. The IRS does have many loopholes to avoid pulling out those extra funds, and as tax experts note, even if you can prove it, it doesn’t always mean you’ll be able to deduct it.

To keep your sanity in this already sour year — especially in case you haven’t got these tricky deductions on the record — don’t fret. This April 15th, focus on small business deductions with the most important returns, consider building a financial model of your business to project and cut back on costs, and analyze this year’s returns with a tax professional to know what works for you and which deductions just aren’t worth your time.

This story is also published in Data Driven Investor

The post 5 Trickiest Tax Deductions for Small Business, According to Experts first appeared on MightyCall.

]]> https://www.mightycall.com/blog/internet-phone-service-features-for-small-business/ Tue, 30 Mar 2021 15:32:04 +0000 https://www.mightycall.com/?p=92244 MightyCall’s basket of internet service provider features can give your small business the sugar-rush that it needs to be able to get off the ground, start running, and keep on going.

The post Filling Up Your Easter Basket with Goodies: How MightyCall’s Basket of Internet Phone Service Features Can Be a Treat for Your Small Business first appeared on MightyCall.

]]> Have you ever hidden baskets of candies and chocolate on Easter morning? Or eggs maybe around your yard or your neighborhood? It’s always such a fun time, trying to look through the cupboards or the bushes to collect everything and reap the benefits! Now imagine you were looking for your specific basket, but you knew there were others. Yours has exactly what you want in it- exactly what’s right for you. But they all look so similar- how do you know which one to pick?

Truth be told, picking an online internet phone service company is a lot like trying to find your basket in this scenario. A lot of them promise to deliver, but when you “pick the basket” you might find that there’s a lot less chocolate in there than you had hoped.

One of the baskets you might want to look into is MightyCall, an internet phone service feature which has been in the business for years. “But what’s in the basket,” you ask? Fair question. Let’s find out!

Wait – can I get phone service through the internet?

Indeed you can! If you’re looking for an alternative to the behemoth regular phone service providers, companies like MightyCall can provide you with a digital number online (or you can port you own number over) which you can use to make calls on your computer, cellphone, iPad- really, any internet-connected and audio-capable device!

What else can you do with MightyCall?

Internet Phone Service Features for Customer Service

So, in any basket you have a bunch of different kinds of candy- eggs, chocolate figures, hard candies, you know them all. But almost always, the big one is usually the big chocolate Easter Bunny. It’s the go-to, the one everyone looks forward to. And what’s the equivalent for a small business when it comes to helpful features? Customer service and customer communication. Clients and customers are the lifeblood of small businesses- without them, the business couldn’t stay afloat.

All of MightyCall’s plans come with a customizable, professional auto attendant. With MightyCall’s auto attendant you can set up a menu which can probably help answer 99% of your customers. And again, it’s fully customizable- so your customers can actually be hearing your voice instead of some robotic thing. MightyCall also allows for office hours and after hours call routing- so if that key client is going to be calling you after your closed, it won’t just send them to an automatic voicemail.

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Going with the customizable theme, MightyCall allows for you to customize your call flows to suit your business. Decide which of your employees is available when, along with every other detail you might want to mess around with. Set holidays, set business hours, set your business on the path you need it to be.

Some key call flow features include call screening and block and VIP lists. Call screening allows you to send callers to voicemail and automatically set your status to Do Not Disturb. The blocklist allows you to do exactly what you think (block callers) and the VIP list allows you to put certain callers on a special pedestal where they’ll have a special status on the call flow. Now at first you may think this doesn’t help callers as much- that it helps you instead. And that’s true! It undeniably helps small businessowners. But it also helps callers, because if you’re in the middle of a serious call with a client, or you want to speak with certain clients, it helps to keep your phone lines clear of any unwanted callers, ensuring that your genuine clients get the one-on-one time they need.

Internet Phone Service Features for Organization

And how about organizing your small business too? MightyCall doesn’t just do phones- it can also help you run your life and the life of your business. MightyCall is built to be flexible- just like a small business needs to be. For one, it can be used with, as we said above, most internet-connected and sound-capable devices: your cellphone (on both Android and iOS), your laptop, desktop, tablet- you name it. It’s a cinch to get talking in no time. Plus, MightyCall numbers can be used for deskphones as well if you are a more traditional type.

Best of all, with MightyCall you can lead and manage your team 100% remotely, and communicate with team members from any place in the world with an internet connection or WI-FI.

MightyCall also has an app from which you can do everything you need to do in terms of organization- it’s not just for making calls. From the app you can change your call status, get notifications, have access to your call recordings and voicemails (including voicemail transcriptions), read/send texts, and edit your contacts, among other things. And, naturally, it makes and receives calls. From the app (or from the web panel online) you can also check company statistics, such as who is making how many calls, and how long those calls are.

From the web panel you can do all that and more. One of the key aspects of organization is being able to add to it or subtract from it- and with MightyCall, it’s a piece of cake (or should we say, a piece of chocolate rabbit?). MightyCall offers limitless free phone extensions (effectively giving you limitless users), and they can be set up in minutes. If you need to hire a few hands or someone decided to leave, adding or subtracting new users at will is…well, a lot easier than finding hidden eggs, to be honest.

MightyCall also is available on softphones. While you can make calls through your web browser, you can also make calls (and receive them, naturally) through softphone apps for Mac or Windows, which are programs you can download like any other. You just need Wi-Fi to use it. It’s so simple. Open the computer, boot up the program, and go.

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Internet Phone Service Features for Employee Communication

Naturally, you need to work with your employees- like having your friends help you when they happened to see your basket somewhere. Employee communication is key for getting stuff done, and MightyCall helps facilitate that with plenty of features in this department. The best part is that many times changes or alterations you make will be available instantly for all of your employees to view whenever they need to, which lessens the need to go through outside channels and keeps everything clear and orderly.

For one, you can use the Business Contact Book, which works as a mini-CRM and allows you to save any information you need about a customer- and to leave comments behind letting fellow employees know anything they need to about the customers: what they like, what they don’t like, and how recent talks have gone.

This is hugely beneficial as it keeps you from having to use outside apps or texts or even papers, all of which can get mixed up with other things and forgotten. MightyCall gives you a one-stop-shop from which you can make sure everyone is always in the know.

Call recording, which we mentioned previously, is also a big one, and is just as important for employee cohesion. If an employee needs more details on what was being discussed, call recordings are saved in a simple to access place where they can be played back at will. They won’t have to go in blind to calls with important clients; because they can hear the entire call, it’ll basically be like they’ve already talked with the client themselves. And as mentioned, voicemails and voicemail transcripts are features as well. Giving a voicemail transcript a quick once-over goes a long way to helping have solid conversations with callers instead of just a “Hey I saw you called, what’s up?” It doesn’t just help with internal cohesion- it presents external professionality.

Of course, it all comes together in MightyCall’s central web panel and the MightyCall Mobile App for Android/iOS. It’s where you can digitally work together with your employees and colleagues to produce an experience for your customers like none other.

Want more chocolate?

These aren’t all of MightyCall’s features- not nearly. Take a look here for yourself to discover a lot more! There are a litany of internet phone service features, all designed with small businesses in mind: toll-free numbers, vanity numbers, Caller ID and CNAM, Dial-By-Name, and loads more- including tons of sub-features relating to all of the ways you can organize your call flows. Use whichever ones you want in whichever combinations you want; MightyCall knows that the person who can best organize your small business is you, so it doesn’t get in your way- it just gives you the tools to build what you want to.

So…have fun with your goodies!

MightyCall’s basket of internet service provider features can give your small business the sugar-rush that it needs to be able to get off the ground, start running, and keep on going. And if your small business has been around for a while? Well, you’ve probably eaten sweets before- everyone can use a boost now and then!

So who waits to eat their candy? Try MightyCall for free today!

The post Filling Up Your Easter Basket with Goodies: How MightyCall’s Basket of Internet Phone Service Features Can Be a Treat for Your Small Business first appeared on MightyCall.

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