Michael Levitt's Blog, page 89

Help Your Small Business to Become Resilient in a Post-Pandemic World

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The past year has shown just how much businesses need to adapt and to change, and as many more places open, there are some still uncertainties that come from living in a pandemic. There are challenges with vaccine roll-outs and different emerging virus variants, which can all spillover and impact businesses again.

Businesses have had to deal with an economic crisis, as well as a health crisis, which drives new employee protocols, as well as customer engagement protocols. The introduction of remote working was sudden and unprecedented, as well as businesses needing to consider their supply chains and new ways of working. These changes and developments have left many people wondering about how they can best prepare for what lies ahead, as there are still some levels of uncertainty. Businesses need to have a focus on resilience and survival, and it will be different from business to business. 

A lot of businesses have changed and innovated what they do, and if they don’t, will not be able to benefit from any economic recovery. As a result, businesses need to focus on and be ready for this uncertain period, and be ready to strengthen what they do and review their strategies, in order to make a more resilient business for the future. Here are some of the things that businesses should focus on, in order to build their resilience and survival.

Creating an online presence

If you want to stay competitive, then creating an online presence is important. Many businesses have gone online when the pandemic first started, but there are some that are still hesitant to do so. Your target audience may prefer face-to-face interactions, but it is important to think about what you can do online so that your business can still take orders or work with clients. 

Safe physical presence

There are a number of guidelines and procedures that those businesses with physical stores need to think about. When you have gone through the guidance, you need to see how it will fit best with your business to help your customers to keep coming back to you. Will wearing face coverings be enough, or will you limit numbers and have distancing in place? You should also think about the outside of your premises, looking at the design of it and potentially new sign installation, to let customers know that you are open and that you do have safety procedures in place to protect everyone. When customers feel safe with you and it is all clear to them, it can really help them to keep coming back and to recommend to friends.

Collaboration with others

Many small businesses are feeling the impact of the situation, and as a result, would benefit from working together in some form. It could be that you work with an online business to offer a discount to that store when they buy from you, or perhaps it could be working with a local business to give money off a meal in a local restaurant when they shop in-store with you. Working together can give you both a boost.

Why Might Somebody Sue Your Business?

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As a business owner, there is much you need to deal with on a daily basis. From managing the needs of your employees to supporting the best interests of your customers, your to-do list will be never-ending. The last thing you need on your hands then is a lawsuit. This is one business hurdle you don't want to face as both your reputation and financial position will be put at risk. 

To avoid such a possibility, it's important to understand why somebody might decide to sue your business. We will take a look at some common reasons why in this article. Have a read and then do all you can to sidestep the possibility of a lawsuit.

#1: Copyright/patent infringement

As a business owner, you don't want to copy, steal, or claim the invention of another business's intellectual property. This could be something you purposefully do although, without sufficient research, you could also do it accidentally. Think about this when coming up with a name for your business and product and think about this when you're planning on bringing a certain product to market. If another business thinks you are stealing ideas from them, you could be made subject to a copyright or patent infringement suit. Consider the legal action taken out against Moon Pod for a real-world example. 

#2: Wage disputes

Are you paying your employees what you promised? Are you paying them to work overtime? Are you paying them the minimum wage (or over)? If your employees are being underpaid, for any reason, you could be made subject to a lawsuit when they try to recover what is owed to them. You need to adhere to all employment and labor laws in your state, so never be tempted to cut costs by not giving your employees the money that they are legally entitled to. 

#3: Workplace injuries

Health and safety need to be your focus within your workplace as you can be made subject to an injury claim if an employee or a customer is hurt on your premises. You could be forced to pay legal and medical fees if somebody takes action against you and that could derail your business finances. Of course, not every accident will be your fault so with the aid of an attorney you might be able to avoid the legal ramifications of a claim. But where you haven't kept up with the upkeep of your premises and when you haven't provided employees with the necessary safety gear for their roles, you could be held liable for any injuries that take place. 

#4: Discrimination

If any of your employees feel discriminated against, you could be made the subject of a discrimination claim. Follow the guidance given by the U.S. Equal Employment Opportunity Commission to avoid such a lawsuit being made against you. Your employees deserve to be given equal opportunities within the workplace, and the same applies to those people who are applying for jobs within your organization. Be a fair employer to avoid any legal charges. 

For more advice, commit to research online and/or speak to a business attorney. The better educated you are on legal matters the safer your business will be. So, take all necessary precautions to safeguard yourself from a lawsuit. 

4 Tips to Improve Collaboration in Your Business

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If there is one thing that you are going to need in any business in order for it to be successful, it is collaboration. Without collaboration and teamwork, you can never reach those shared goals and achieve great things.  

The trouble with collaboration is that it can be hard to get right. Naturally, we want to come together, but there can be so many obstacles in our way that it can be hard to know what is the right approach to take.  

Thankfully, the good news is that there are lots of ways that you can improve collaboration in your business; you just might know them yet.  

To help you to learn more, we have put together our guide on the things to do to improve collaboration in your business.  

Have the right intranet 

One of the main tools that you will need to collaborate in your business is the intranet. The intranet will ensure that you can all access the same documents and work together on set projects. You share information and best practice and just come together. To have the right intranet, the best thing to do is check out Enterprise Intranet Solutions to ensure that you have the right tools going forward.  

Work on team building 

Another great way to make sure that you can encourage collaboration is one approach that you may think is a little on the cheesy side. Team building may sound like something that you don't want to have to organize or that your staff will engage with, but it can be hugely beneficial. Team building's very nature is to bring your staff members together and show them what can be achieved when they work together, which means that it is something that you need to do as much as you can.  

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Be open with your vision 

If you don't let your employees know your business's end goal, how can you ever expect them to work together to reach it? It is vitally important to be open and honest about what you want to achieve for your brand. If you do this, you are allowing your staff to think about how they can make the necessary changes to get you there. Not only this, but you are letting them know that you see them as a part of your team together, which means that they will want to work as hard as they can for you.  

Ensure that departments come together 

Whilst teamwork is essential within one department, especially since they will have a goal in mind, it is also necessary to make sure that your business can work together. This means that you need to find ways to ensure that your key departments come together. It can be hard to work collaboratively if you are in different teams or don't work in the same building parts. However, this doesn't mean that it is impossible, and it is worthwhile doing.  

As you can see, there are so many ways that you can try to encourage collaboration in your business. So, if you want to come together as a team, try out some of these top tips for yourself and your business's future.  

How To Lead Your Business To Success

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As a business owner and leader, it’s your job to ensure you find success and that your company performs well over the years. There are steps you can take that will help you take your business to the next level and thrive in your career.

The following tips and advice will help you know where to focus your time and energy and how to transform yourself and your business for the better. Set a good example so others follow your lead and together with your team you’ll be unstoppable.

Learn from Other Leaders

You can more easily lead your business to success when you take cues and notes from others. Take the time to check out some of the most respected and relevant leaders out there such as Chip Packard and figure out what they did to make a name for themselves in the business world. Pinpoint mentors and role models so you can understand their strategy better and get to the top just as they have done. Reach out and network and build new relationships and connections with people who can help you get and stay on the right track.

Focus on Client Service

Your clients should matter a great deal to you when you’re in business and their needs should always come first. Lead your company to success by focusing on client service and ensuring your customers are satisfied. Gather feedback from past and current customers and get a better idea of what you can be doing to improve and then make modifications based on these remarks. Get to know your customers on a deeper level so you can not only meet their expectations but exceed them and build loyalty and trust with them.

Embrace Change

Change is the name of the game when you’re a business owner. Lead your business to success by embracing change instead of fearing it. Reach out to the unknown with open arms and get excited about all the opportunities that exist for you that you haven’t even touched on yet. Remain flexible and willing to adapt to your surroundings, business landscape, and your customer’s needs and wants. Let change be a chance to perform better the next time around and as a way to get your company to deliver improved products and services over time.

Stay Open-Minded

It’s also very important to remain open-minded when you work in business. Lead your company to success by getting excited about exploring new doors that open and opportunities that come your way. Be a good listener and avoid always doing all the talking so you can learn and grow. Admit to what you don’t know and be eager to take in new information that’s going to help you develop into a better business leader and owner. Be responsive to others and let new ideas in and consider them before you make a snap judgment and disregard what’s being presented to you. Your goal is to strengthen your staff bond and maintain a positive environment where others feel motivated to share and succeed together.

How to Develop a Successful Marketing Strategy for 2021

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No matter whether you are an accomplished small business or a small start-up, you will always need to depend on a marketing strategy to engage and widen your audience. Ideally, you should aim to choose a marketing strategy that works for your business entirely and builds upon the foundations you have already created for your customers. You will need a solid and dependable marketing strategy that gives back what you put in. So, if you are ready to succeed, keep reading to find out how you can develop a successful marketing strategy for 2021 and beyond. 

Create a plan

One of the first things you can do when aiming to develop a successful marketing strategy is to develop a plan and set some goals. Figuring out what you want to gain out of your strategy is the key. For example, do you want to widen your audience or engage your current customers? Are you looking to develop your customer retention rates or advertise new products? 

Either way, a successful marketing strategy needs some goals and a plan to work towards in time. We also recommend that you set some targets for your marketing strategy. For example, what level of engagement do you expect to retain by what date? As well as this, it is useful to consistently examine your goals to decide if your strategy is doing the right things for your company. 

Conduct market research

After you have created a plan, it is useful to conduct some market research. This will help you understand the current state of your market and get to grips with your target audience. Understanding where your customers are coming from will help you shape a marketing strategy that will work for them and allow you to reach your target audience. Moreover, market research will also help you identify your competition and work out where you slot within the industry. This is useful when considering where you fit both locally and online against other businesses within your follower reach and locality. 

Put your customers first 

Thirdly, experts recommend that a marketing strategy will always be as successful as how much effort you put into ensuring your customers come first. When it comes to email marketing – for example – there is so much you can do to engage customers and influence them to click on the links you share via the emails. However, it is also useful to use email marketing as a tool to help personalize the customer process. For example, you can send account emails and alerts, welcome emails, and onboarding messages. Investing in a high-quality transactional email provider will be very useful for your business. 

Choose a campaign method 

Stemming from our market research point, you should develop your marketing strategy via a method that suits your target audience and current customers. For example, there is no point in developing a strong social media marketing service if very few customers are finding you through social media! 

Follow these quick tips when looking to develop a successful marketing strategy in 2021!

The differences between print and digital marketing

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In recent years, many businesses have focused on the importance of digital marketing and making themselves known online. However, that hasn’t always been the case. In fact, the internet has only been around for a few decades, which means print marketing was once the most important form of marketing. 

This puts forward a critical question. Which one is better? Some may say digital is the way forward; others may say that traditional methods hold the most value. Actually, using a combination of both marketing tactics is best as it means a business can reach audiences far and wide. As well as the benefits of using both forms of marketing, there are some downfalls too. Let’s take a closer look. 

What is digital marketing?

Digital marketing simply refers to marketing online. It encompasses all electronic marketing efforts that use digital channels to reach audiences. This includes search engine marketing, social media marketing, email marketing, and so much more. Within these segments of marketing, there are then many other, smaller branches of digital marketing. For example, SEO, social marketing, content marketing, and marketing analytics are digital marketing tactics. There are a lot of elements of digital marketing, but professionals like those at Itonic are always there to help businesses manage. 

Digital marketing is an excellent method to use when wanting to reach a wider audience. As most people now have a smartphone, tablet or laptop, there is always an opportunity to market to them. Marketing campaigns can be tailored to specific niches, but they can also be designed to target as many people as possible. Social media adverts, search engine ads, and on-page ads are just some of the ways brands can put forward their marketing materials. 

What is print marketing?

Print marketing is what we often refer to as traditional marketing. It’s essentially anything offline. This can include newspaper articles, magazine covers, billboard signs, leaflets, posters, etc. It’s often referred to as traditional marketing because it was the first way to advertise and market different products and services. 

Print marketing is still essential nowadays and should not be neglected. Yes, most people do use a smartphone, but many people prefer to pick up a newspaper to read what’s going on in the world. There are a great deal of consumers who like to take a break from their devices and find many forms of print marketing refreshing. This break from digital channels provides many great opportunities to revert to print marketing and spread the word differently. 

Digital marketing vs print marketing

There are advantages and disadvantages to both print and digital marketing tactics. With digital marketing, a business can often reach a wider audience, especially if a digital marketing tactic can go viral. This means millions of consumers will see what a business is publishing, which quickly boosts brand recognition. Most digital marketing campaigns are also incredibly cost-effective too. This is ideal for companies who don’t have a huge marketing budget or want to focus on improving their online presence. Finally, with the help of various analytics tools, businesses can easily track the success of campaigns. Analytics tools can tell a company who is engaging with their digital content, how old they are, where they live, and so much more. 

A downfall of digital marketing is that everyone is doing it. Consumers are hounded with content regularly, and nothing is stopping a consumer from scrolling right past an ad. Plus, because most businesses are implementing some sort of digital tactics, consumers can become immune and not even recognize the marketing efforts. Not to mention, search engines and social media pages are constantly changing their algorithms, so what may have worked last year might not work now. 

Print marketing is often far more eye-catching than many digital tactics. Giant billboards, leaflets, and magazines are likely to impact consumers more than a picture on social media. Additionally, with print marketing, consumers can usually hold the marketing material and examine it. There’s no possibility of them scrolling right past it. Plus, consumers can often think a business is going the extra mile by crafting print marketing as they know it’s costly and time-consuming. 

However, print marketing is expensive. Nowadays, a TV ad can set any business back by a pretty penny, and it can be off-putting. Companies with small marketing budgets may not be able to roll out a huge print marketing campaign because everything is so costly. Another downfall is that leaflets and flyers often end up in the bin, especially when they’re sent via mail. Some people prefer to pick and choose when they see marketing content, and print marketing doesn’t allow that. Print marketing campaigns are also hard to measure. Businesses don’t know who likes what and if the marketing campaign is going to change their purchasing habits.

By using a combination of both marketing types, companies can roll out marketing campaigns that can appeal to as many consumers as possible.

Things To Consider Before Choosing Your Suppliers In Business

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Suppliers play an important role in your business and so it’s good to be careful about who you pick and choose to help grow your company. There are lots of different suppliers out there for various elements of your business, so picking one can be a bit of a challenge to navigate. However, finding the best one for your company can end up being great for your growth in the future. Here are some things to consider before choosing your suppliers in your business.

The Costs

First and foremost, cost is an essential factor to focus your attention on when it comes to choosing a supplier. A supplier is going to vary depending on their own reputation within their industry as well as what they provide in terms of services to you. The more bespoke, the pricer things become and so it’s good to establish the budgets you have for the supplier. As much as they can be great for business, you don’t want to put yourself out of pocket, especially if you’ve only just started up your company.

Think about what you require and then start shopping around. It’s good to look around at different suppliers because you may want to try and get a better deal by having multiple quotes to challenge the one you’ve picked. The amount you spend is going to play an influence on how rewarding that partnership will be so again, it’s good to see how much you can willingly spend to make it the best it can be.

Can They Provide Everything You Need?

From energy services to provide the distribution of your product, can the supplier provide you everything you need when it comes to what you’re after? Some suppliers will be able to adapt as you grow, whereas others are going to be limited in what they provide and that’s something you need to properly assess before agreeing to work with them. Think about what it is you’re after and make a list of requirements to check them against when you’re enquiring with different suppliers.

If they can’t continue to supply what you’re after, then it’s time to look elsewhere. There may be suppliers in which you sign a fixed contract for a set amount of time, so be wary of what you’re signing into when it comes to commitments. You don’t want to end up with a supplier who can’t provide and then you’re tied in with them for longer than necessary.

Their Reputation

Reputation is an important factor when working with any business because even though they’re not part of your company, they’re linked to you. If they have a bad reputation for any reason, then this could end up rubbing off on you and by being associated with them, it could damage your own business success and reputation as well. It’s always good to align yourself with the right people in business and to avoid those who welcome bad press and a bad reputation at that.

It’s worth reading the reviews and any testimonials that they have from other businesses they work with or have worked with to see what they’re like. The best way to work out whether they’re good enough or not is through these client testimonials.

Is The Communication There?

Communication is key to a working relationship and when there’s a lack of communication, things have a habit of falling apart if you’re not careful. So with that being said, you want to establish whether or not the company you work with is going to be active and responsive. You can usually gather whether this is the case with your first few meetings or correspondence with a company. If you have access to an account manager then that’s already a good start as you know you’ll be given at least some level of priority when you need it.

Make sure you communicate just as much as they initiate communications with you too. It’s a two-way straight and it’s good that both of you are active in keeping up with one another as and when it’s required.

Quality & Reliability

Quality is great because it ensures everything you’re paying for is worth the money and they also need to be reliable. Showing up on time or delivering what needs to be done in a timely manner is going to help everything run as it should do without too many issues.

Choosing your suppliers is important so use these tips before moving forward with the ones you’ve picked.

What Does It Take To Start a B2B Business in Challenging Times?

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For anybody, starting a business is about a combination of following your passion with sheer business finesse. A B2B business is about applying laser-like focus with the abilities to upscale your company during tough times. While we are seeing unprecedented difficulties, that's not to say that starting your own business is impossible. Let's show you how you can start a B2B business in challenging times.

Finding the Right Client

To make your business a success, you will need to find the right clients. If you are thinking about running your business through a B2B ecommerce platform you will need to focus on providing quality products with perfect customer service. But in order to do this effectively, you need to acquire loyalty and respect. Many businesses believe that marketing is the best way to grow a company, but the reality is that it is about customer satisfaction. 

Identifying Your Immediate Competition 

Business growth is dependent on really knowing your competitors. You need to be aware of their weak spots, but this means that you need to be aware of your own weak spots too. Identifying how your competitors are different, or better or worse than yourself gives you a perspective on how you can operate better. This will link in with how you promote and message yourself.

The Importance of Refining Your Message 

Establishing a marketing strategy is vital, but once you've established your messaging, you will have to refine it to make sure it aligns with the overall strategies. Everything you say reinforces the brand and the business. 

The Importance of Thought Leadership 

Within a B2B business, thought leadership equates to a more profitable company. During difficult times, you need to determine where your knowledge lies, and utilize this to create a competitive product or service. We see this more commonly through social media in the form of influencers. It is a way for you to tap into the zeitgeist, and from the perspective of a B2B business, thought leadership could be a valuable marketing tool. Establishing authority on your topic is about producing research on a certain subject, such as white papers.

Getting Everything Right from the Start 

This is one of the most important steps to starting any business. Clients come to you because they want to make life easier for them. When you are working with clients that are struggling to make ends meet, and you have a service that suits them properly you are providing what they need. Whatever industry you operate in, the importance of making your business work for them helps to build a solid and stable foundation. 

Fine-Tuning and Optimizing

Whether it's optimizing your website or streamlining processes, the importance of fine-tuning and optimizing can never be underestimated. There is always something we can do to improve our business during challenging times. For people starting out, there is a lot of pressure at stake. And this is why you need to learn how to get into a growth mindset. Starting a business in challenging times is about making sure that you have addressed that need within the market.

Starting Your Online Store In 2021 Using Magento

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Most companies will agree that their e-store is one of the most important components to their business’s success nowadays. Get it right, and you are opening yourself up to a whole host of new customers and increased revenue. Get it wrong, and you are missing out on a massive opportunity and falling further and further behind your competition. It all begins with choosing the right e-commerce platform for your requirements. You have many different options at your disposal, yet most companies nowadays are turning to Magento. Read on to discover the reasons why this is the case…

There is only one place to begin and this is with the fact that Magento is an open-source platform. What does this mean? Well, basically it means that anyone can use it and they can use it for FREE. This is extremely beneficial as it means there are no barriers to entry, plus we all know how crucial it is to keep your cost as low as possible. There are also four different editions based on your company’s needs. These are as follows…

Magento Go: This is recommended for entrepreneurs and small merchants. It is a hosted solution and thus you need not worry about software and servers. 

Magento Enterprise Premium: This is ideal for big companies.

Magento Enterprise: The perfect option for small to big businesses.

Magento Community: This is advisable for hobbyists and developers.

This just scratches the surface of how Magento has an array of different options available so you can customise your e-store to suit your needs. Use the predictions from Dee Agarwal to understand what resonates at present. One of the best things about Magento is the vast assortment of different features that are available. This includes everything from marketing features, to analysis and reporting, to product catalog options, and so on and so forth. You name it, you can do it with Magento. It supports SEO, which is of extreme importance, ensuring you can climb up those search engine result pages. You also have a whole host of payment options at your disposal – including Standard and Website Payments Pro and PayPal. The platform also has up to date currency rates, which is ideal for those planning to sell their products internationally. 

Magento is constantly updated as well. This ensures you never get left behind when it comes to new features and the changes in the ever-altering online world. Their availability of deep customization is constantly growing. A great example of this is how they already have a vast selection of social shopping features, which allows you to gain the loyalty and trust of your consumers through an effective and modern form of indirect marketing. 

When you take all of the points that have been touched upon into account, it is really not tough to see why Magento is so popular today. Not only is it an open-source platform, but there are a whole host of features to take advantage of and thus the customization options are vast. You can really make your business’s e-store stand out. 

Nonetheless, the best thing to do is hire Magento Developers. Why? Well, Magento has so much going on, and it can be extremely difficult to get your head around this if you have not used it before or been trained in it. If you want to ensure you really make the most of what this solution has to offer, you should definitely consider taking advantage of the professional assistance that is available to you. This is especially the case as Magento Developers will be trained in marketing as well, which is, of course, imperative to your online presence and the effectiveness of your e-store. 

4 Tips to Turn Your Passion Into a Career

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For most people, it is a dream to have a job they love. A career that is fulfilling, enjoyable, and makes a difference to the world. But for the vast majority, this can seem like an unattainable dream. Only 65% of employees claim to be satisfied with their work, and millions spend their lives in a state of drudgery, toiling through monotonous tasks in an industry that doesn’t bring them any joy.

But what if it didn’t have to be this way?

Every single person on the planet has a passion. Something they care deeply about and spend all their spare time thinking about and acting on. It might be sports, reading, charity work, travel, or music. Whatever it is, with hard work and the right strategies, it is possible to turn it into your career. This way you no longer have to spend a third of your adult life breaking your back to earn enough money to pay the bills. You can actually get paid to do what you love. You will experience far greater fulfillment and happiness in your life, and your mental health and self-esteem will skyrocket as a result. 

But how can you achieve this? All you need to do is identify your passion and find opportunities for working in this area. You could find a job in a relevant industry, write a best-selling book about it, or even start your own business. The opportunities are endless. To help you along the path to your dreams, here are four tips for turning your passion into your career. 

Do your research

The first step to landing your dream job is to find out what opportunities are available to you. Do some research online to discover which jobs are available, any niches in the market for starting your own business, and the qualifications you’ll need to succeed. Once you know what the professional landscape is like, you will be able to make a comprehensive plan to get you where you need to be.

Educate yourself

What qualifications and knowledge do you need to start your new career? Although it will set you back financially, taking an online course or going back to college will give you an excellent head start. 

Live the life

If you really want to get ahead in your chosen field, it needs to become your life. For example, if you want to be an astronaut you should not only gain qualifications and apply for jobs. You should also read books on space, visit museums, watch documentaries, and even take up stargazing. 

Gain work experience

Once you have the academic background required, you may also wish to gain some practical experience before you jump straight in. Apply for internships or volunteer with companies in the relevant industry. This will help you decide whether this life is really for you, and may lead to job opportunities in the future. 

It doesn't matter whether you want to be a world-class footballer, a hotshot lawyer, or the owner of a mortuary supplies business, following these steps will propel you along the right path. With enough hard work and commitment, you will build your new career from the ground up and enjoy a much higher quality of life.