Kenneth Boyd's Blog, page 18

Need To Hire a Lawyer? Here’s How You Can Save Money Doing It

It’s not uncommon for people to need a lawyer at some point in their life. Whether you’ve been injured at work or have been accused of something in the workplace, there’s a good chance that you might be looking to hire a lawyer to help you out. They can help you navigate the law and show you all of the options that you have to leave with a positive outcome.

 

Always consult a lawyer regarding legal issues.

 

Unfortunately, hiring a lawyer isn’t free. In fact, it can be fairly expensive even if many lawyers don’t charge a fee until they’ve confirmed your victory. However, there are ways to reduce the cost of hiring a lawyer, thus making it more accessible no matter what kind of situation you’re going through. So whether you’re currently recovering after an accident or want to be prepared for a possible lawsuit in the future, here are some tips to help you reduce the associated costs.

 

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Always look for reputable lawyers with positive reviews

 

Reviews are extremely important when it comes to looking for a lawyer. In fact, we’d suggest that you contact friends and family members for recommendations if possible. If you know somebody that has worked with a lawyer before, it’s usually a good idea to speak to them first and get a referral. This is a lot better than just finding a random lawyer. However, if you have no choice but to search for one, then you should rely on reviews to get a good idea of the type of service they offer and their attitude towards clients.

 

For example, you could check reviews for reputable companies like Villarreal Law Firm to give you peace of mind before you decide to hire them. This can help you get a better understanding of the law firm and their motives, but it also helps you get in touch with them to see what their attitude is like and also what kind of cases they specialize in.

 

Reach out for a free consultation if offered

 

Many lawyers offer a completely free consultation to help you get a better understanding of your case and your chances of winning. This can help improve your confidence when working with a specific lawyer or a law firm and it can give you an idea of what your money will be going towards. This is also the perfect time to discuss fees and how much you’re going to be paying. Some law firms can charge per hour, while others will only charge you once the case has concluded in your favor.

 

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With so many different kinds of legal fees to keep in mind, it really helps to have a specialist at your side. And thankfully, many of these law firms can offer a free consultation to help you get started. So if you notice that the option is there, we highly recommend taking it to learn a bit more about all of the law firms that you could potentially work with to help you with your case.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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The Best Way to Set up a Website for Your Business

There are many reasons why people start their own businesses. Some want to be their own boss and have the flexibility to work when they want. Others may be looking for a more fulfilling career path. Whatever your reason, starting your own business can be an exciting and worthwhile endeavor.

If you’ve been considering starting a business, or you already have one but are still unsure about how to get started, this guide will help you understand what it takes to set up a website for your business and get it online so that potential customers can find you easily.

Why Should You Even Consider Creating a Website for Your Business?

Websites are a crucial component of any business. They create an online presence for your company, which is essential for marketing, branding, and attracting customers. A website can be used to build trust with potential customers by providing them with detailed information about your business.

It can also be used to showcase the products or services that you offer. Furthermore, websites are an excellent way to generate leads and convert them into actual customers.

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Website Planning & Design Process

In order to be successful, a website needs to be both functional and aesthetically pleasing. A website should also be easy to navigate and provide the information that is needed. A website good plan will help you figure out what type of site you want and what features it should have.

It will also help you decide how much time, money, and resources are needed for the project. You should then also ensure that you can find a web design that you like too.

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Choosing the Right Web Hosting & Domain

Choosing the right domain name and web hosting services is essential for any business. Without these two, a company cannot be successful on the internet. Choosing a good domain name is important because it will be the first impression that your customers will see when they visit your website.

It should be short, memorable, and easy to spell or pronounce. In order to choose a good web hosting service, such as AWS marketplace hosting, you must consider factors like customer support, uptime guarantees, price, speed and bandwidth limits. Then you can choose the right one to go with.

Logo Design Principles for a Successful Brand Identity

A logo is an important part of any company’s branding. It’s important to understand the principles of a successful logo design and how to design a logo that will be memorable, recognizable and appropriate for the company’s brand identity. The first principle is that logos should be simple and easy to read at a glance. The second principle is that logos should be memorable.

The third principle is that logos should reflect the company’s values and personality. The fourth principle is that logos should not be cluttered with too many words or images, as this can make them difficult to read or understand. Then you can look at creating a logo design that will set the tone of your site’s brand identity.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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I Used To Be Cool: A Personal Assessment

“I Used To Be Cool.”

 

The sticker was on the back window of a minivan, not very old, but the van had a dent in the rear bumper- driving with kids can be a distraction. The sticker was next to a KSHE-95 Real Rock radio sticker.

 

I laughed as I sat at the stoplight.

 

So I asked myself: was I ever cool? Here’s my personal assessment.

 

Seth Godin tells a story on this Tim Ferriss podcast about being popular in school and yo-yos. You know where this is headed: popular kid brings a yo-yo to school, and suddenly every kid is playing with yo-yos. To prevent anarchy, the principal outlaws yo-yos.

 

Then, a few years later, it happens all over again.

 

In the 70s, Duncan yo-yos starting showing up at my grade school. Two brothers- one in my class, one a year older- was pros at yo-yos. So, of course I got one, too.

 

Middle School Years

 

No person in history was cool in middle school- everyone (including me) is simply too awkward.

 

But some people got close. Middle school for me was the mid-70s, and a ton of music that I love came out during that era. The Eagle’s Hotel California came out in late ’76 (I was 14).

 

Album art (now a lost art) was one of the benefits of buying and listening to music, and some kids owned cool albums. If you had older siblings who went to concerts, you might have a great concert t-shirt. One friend had a shirt with the Average White Band logo, which I thought was cool.

 

I was not one of those semi-cool middle school kids, however. I had my hair parted in the middle and somewhat long. Throw in hormones and the picture isn’t pretty. One fond memory is mispronouncing the name of a female body part while reading aloud in 7th grade science class.

 

What about high school?

 

 

You can find humorous short stories here.

 

Considering High School

 

I started high school in the fall of ’77, and graduated in spring of ’81. I was a very average athlete on the football team, which added points to the cool factor (at least a few points). Those points were offset by taking advanced classes in some subjects, with advanced math never working out.

 

So, sort of even on cool points.

 

One classmate who I thought was particularly cool: punk rock peaked during the late 70s, and he had every great album. I didn’t know him well, but I remember listening to some great music for the first time at his house.

 

Some people think rebels are cool, but I couldn’t pull that off. My mother had taught in the school district, and all of the teachers knew my Mom. As a result, I felt an obligation to stay out of trouble- which is not cool.

 

There were frequent scams to buy liquor, including drives from St. Louis over to Illinois to a drive-thru liquor store. I had access to a car, which helped, and did have girlfriends in high school.

 

The coolness was offset by embarrassing events. We had a football game around Halloween senior year, and my girlfriend at the time asked the coaches to get me out of the locker room, so she could give me a gift. While she looked great, the coaches gave me trouble for weeks.

 

I think I ended high school with a few cool points- at least in positive territory.

 

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The Anti-Cool Years

 

I pledged a college fraternity that was proudly anti-cool. Not quite Delta Tau Chi from Animal House, but definitely not the pretty boys in Beta or Sigma Chi. Not a surprise that we attracted people (male and female) who liked the rebel image.

 

We were frankly more fun and less hung up on status than other houses, and that was attractive to some. At the same time, the cool fraternities and sororities shunned us, which was funny to all of us.

 

One great memory was a friend who figured out how to break into the kitchen of a neighboring fraternity and steal food on the way home from the bars. They never caught on…

 

Avoiding the Social Climb

 

I got one of those anti-cool girls to marry me, and the two of us avoided social climbing in the decades after college. It feels unrewarding, and hanging on to the top of the ladder may not last forever.

 

So, I never was cool- at least not for very long. I’m comfortable wearing socks and sandals in public, getting my haircut at Great Clips, and limiting my wardrobe to hiking pants and jeans.

 

I got the cute girl- so I have that going for me.

 

 

Ken

 

Image: Sunglasses, George Kelly, (CC By ND 2.0)

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Why Professionals in All Industries Must Adhere to the Law: The Importance of Ethics

If you are a professional, it is important to adhere to the law. This may seem like an obvious statement, but it is something that many people fail to remember. There are many reasons why obeying the law is so important. However, a lot of it has to do with the image of professionals.

 

Always consult with an attorney regarding any legal issue.

 

When you are a professional, people look up to you. They expect you to behave in a certain way and follow the law. This is especially important in industries like medicine and law. If professionals start breaking the law, it can ruin the reputation of that industry. People will no longer trust these professionals, which can lead to disaster.

 

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Adhering to the Law Matters

 

In addition to adhering to the law for ethical reasons, there are also practical reasons why it is crucial. Following the law makes sure that you don’t get into trouble with the authorities. It also helps keep your business running smoothly and prevents any legal issues from arising.

 

When you are a professional, adhering to the law is one of the most important things you can do to protect your reputation and your business. Even if it’s just a small infraction, breaking the law can have serious consequences. So always make sure that you adhere to the law in everything you do.

 

For example, if you are a personal trainer, you must get certifications that prove you are qualified to do the job. These certifications show that you have adhered to the law by completing the required training. Exercise for older adults certification is one example of a certificate you may need to get.

 

If you are a real estate agent, adhering to the law is important to avoid getting sued. Real estate agents must follow Fair Housing Laws, which protect people from discrimination when they are buying or renting a home.

Adhering to the law is important for professionals in all industries, not just personal trainers and real estate agents. Lawyers, doctors, and even teachers need to follow the rules and regulations to keep their licenses and avoid getting sued.

 

So if you are a professional, always make sure that you are adhering to the law. It’s the best way to protect yourself and your business.

 

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Why Professionals Must Adhere to the Law

 

Adhering to the law is important for professionals for many reasons. Let us explore these reasons in more detail below:

 

Following the law is the right thing to do

Laws were put in place for a reason-to protect citizens and ensure that everyone is treated fairly. When professionals break the law, they are not only hurting themselves, but they are also harming society as a whole.

 

It’s important to set a good example

As role models, professionals must always adhere to the law. If they break the law, it sets a bad example for others who look up to them. Young people especially need good role models to show them that adhering to the law is the right thing to do.

 

Breaking the law can lead to serious consequences

Many serious consequences can come from breaking the law-professionals can lose their licenses, be fined, or even go to jail. These consequences can have a negative impact on their careers and lives.

 

Following the law protects entrepreneurs’ reputations and businesses

Reputation is everything for entrepreneurs. If they break the law, it can ruin their reputations and businesses. Adhering to the law protects their reputations and helps them succeed in the long run.

 

A good reputation can open doors to new opportunities. It can help entrepreneurs get funding, partnerships, and customers. A bad reputation can close doors and make it difficult to succeed. Therefore, professionals must always adhere to the law to protect their reputations.

 

Adhering to the law shows that you’re a professional

When you comply with the law, it shows that you’re a professional. It shows that you’re responsible and that you care about your career. Adhering to the law is the right thing to do for your career and your life.

 

Following the law helps ensure that entrepreneurs don’t get into trouble with the authorities

Getting in trouble with the authorities can be a major setback for entrepreneurs. It can damage their reputation, cost them money, and even land them in jail. By adhering to the law, professionals can avoid these problems and stay out of trouble.

 

The bottom line is that adhering to the law is important for all professionals. It’s the right thing to do for your career and your life. So always make sure you’re following the law to protect yourself and your business.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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5 Tips to Protect Your Business From Internet Defamation

 

A business owner is only as successful as their reputation online. Online reviews can make or break your company, and it’s essential to make sure your reputation remains untarnished. It can be stressful to know how to handle false accusations being made about your business on the internet.

 

On the one hand, you need to stay informed and informed about what’s being said about your company and respond accordingly if you feel that it isn’t entirely accurate or fair. On the other hand, you don’t want to give the bad review poster any more attention than they deserve because that could potentially bring you more negative attention in the long run.

 

Always consult with an attorney regarding any legal issue.

 

If an individual or business has posted something online about you that isn’t true, there are several steps you can take to protect yourself against internet defamation. Here are six tips to help your business defend itself against false accusations online.

 

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What Is Internet Defamation?

Defamation is a general term that refers to false statements that are damaging or prejudicial, made about an individual or entity. The person making these statements can be anyone-an employee, competitor, or someone with an ax to grind. Defamation on Internet forums can be particularly damaging because they’re easily accessible by millions of people in just minutes. It’s hard for a company to defend itself against accusations when there’s no way of contacting its accuser.

 

Be Prepared for Social Media Interaction

Social media provides a way for customers and prospective clients to interact with businesses. While these platforms offer you a great opportunity to get instant feedback and connect with potential clients, they also open up a direct line of communication that you need to be prepared for. To help manage interactions on social media, make sure your representatives respond quickly and positively-responding negatively can cause all sorts of issues online.

 

Don’t Be Quick to React

It’s tempting to turn an online barb into a public display of outrage, but it’s not always wise. It’s best for all parties involved (you, your company, and anyone who may be reading) if you take a moment or two to process what happened before responding. The same is true for social media posts: You want to respond with smart, professional energy-not with knee-jerk reactions that make matters worse.

 

So, instead of yelling back at everyone in 140 characters, try taking some time to think things through first. That will help you craft a response you can be proud of instead of regretting later.

 

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Check With Sources

When people spread rumors online, they don’t always cite a credible source. If you find yourself on the receiving end of damaging rumors, ask yourself: Does it make sense? Is there evidence behind it? Can I debunk it with some research?

 

Before making any public statements in response to a rumor, run through these questions and try to use reputable sources. If you can’t-or if rumors won’t stop-consider taking legal action. In many cases, including those that aren’t defamatory but hurt your company image or sales somehow, you may be able to recover damages. Always consult a lawyer before pursuing litigation, however. The risks associated with lawsuits are serious and could be expensive for businesses.

 

Preserve Evidence

Once you have an inkling of a problem, make sure you save copies of any emails or text messages where people threaten or defame your business. It’s a good idea to create backups and printouts of everything. If somebody accuses you of something false on social media and you have no proof, it can be extremely difficult to get them to back down.

 

For example, if someone posted on Twitter that your company is going out of business without providing any evidence, they might just face a quick rebuttal by customers who know better. But if you’ve saved evidence showing how well your company is doing and what projects are in store for the future, you’ll have much more leverage when dealing with unfair accusations.

 

Hire a Lawyer When Things Escalate

No matter how righteous you are in a situation, hiring a lawyer can help you defend yourself against false accusations. The best part about hiring a lawyer for online defamation is that it’s completely passive-you can rest easy knowing they’re out there protecting your reputation while you go about running your business.

 

There’s a lawyer email database that you can use right now to find one or more lawyers who specialize in cyber-harassment or Internet law. While not every case involves a lawsuit, if something gets too intense and personal, having someone on hand who knows how to handle a cease and desist letter properly will put your mind at ease when things get bad.

 

Final Thoughts

There are many ways that someone can take down your business. Unfortunately, there is a lot of false information out there on how to deal with it. We’ve discussed six tips for defending yourself against false accusations. Hopefully, you find these helpful.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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How Discipline Helps in Achieving Goals

How much progress do you want to make on any given day? One step, or a thousand? It all comes down to discipline. Without discipline, it’s difficult for anyone to stay on track and make progress. But with discipline, we can overcome any obstacle and reach our goals – even if they’re big ones. So be sure not only to exercise self-discipline in the big things but also in the small things. In your diet, your exercise routine, your work ethic, and your personal relationships. Discipline is key to achieving goals – both short-term and long-term.

 

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How to Develop Discipline?

There’s no one-size-fits-all answer to this question, as the best way to develop discipline will vary from person to person. However, here are a few tips that might help:

 

1. Start Small

If you’re struggling with developing discipline in one area of your life, start small. Tackle one task at a time, and focus on completing it to the best of your ability. Over time, you’ll gradually develop the discipline needed to take on bigger challenges.

 

2. Set Goals

When you have a specific goal in mind, it’s easier to stay disciplined. Knowing what you want to achieve makes it easier to make the necessary sacrifices and stay on track. So be sure to set goals for yourself – both short-term and long-term.

 

3. Create a Routine

Having a routine makes it easier to stay disciplined, as you’ll know what to expect from each day. This can help reduce stress and make it easier to stick to your goals. So try creating a routine that works for you and stick to it as closely as possible.

 

4. Find a Role Model

It can be helpful to find someone who has achieved the things you want to achieve and look up to them as a role model. Seeing someone else do what you want to do can help give you the motivation and discipline you need to succeed.

 

5. Reward Yourself

When you achieve a goal, be sure to reward yourself accordingly. This will help keep you motivated and disciplined as you work towards future goals. It’s important to find a balance between rewarding yourself and pushing yourself, as too much of either can be counterproductive.

 

6. Keep Learning

The best way to develop discipline is to never stop learning. Continue educating yourself on the things you’re interested in, and learn from your failures. The more you know, the easier it will be to stay disciplined and achieve your goals. For instance, the Government of Singapore funded various programs like SkillsFuture Series to help Singaporeans upgrade their skillsets and create a lifelong learning culture. This is a great example of how learning is essential for discipline and success.

 

Discipline is an essential ingredient in the recipe for success. Without it, we’ll find it difficult to achieve anything of significance. But with discipline, we can overcome any obstacle and reach our goals – no matter how big they may be.

 

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The Benefits of Developing Self-Discipline

There are many benefits to developing self-discipline, including:

 

1. Improved Mental Health

When we’re able to stick to our goals and overcome obstacles, it can lead to a sense of accomplishment and improved mental health. This is because self-discipline allows us to take control of our lives and do what’s best for ourselves – even when things get tough.

 

2. Improved Physical Health

Discipline also plays a role in our physical health, as it allows us to maintain healthy habits and stay on track with our diet and exercise routine. When we’re able to stick to our goals, it can lead to improved physical health and a better quality of life.

 

3. Improved Relationships

Discipline is also essential for healthy relationships. When we’re able to stick to our commitments and behave in a respectful manner, it can lead to improved relationships with friends, family, and romantic partners.

 

4. Improved Career Opportunities

Discipline can also help improve our career opportunities. When we’re able to stay on top of our work schedule and meet deadlines, it can lead to a better reputation and more opportunities for advancement.

 

5. Improved Self-Esteem

Finally, discipline can also lead to improved self-esteem. When we’re able to accomplish our goals and stick to our commitments, it can lead to a sense of accomplishment and increased confidence in ourselves.

Discipline is key when it comes to achieving goals. Without discipline, you’ll find it difficult to stay on track and make progress. But with discipline, you can overcome any obstacle and reach your goals. By following these tips, you’ll be well on your way to achieving success.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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A $4.5 Billion Bitcoin Theft and Customer Research

How far are you willing to go to understand and fix a problem?

 

Let’s start with the tenacity required to uncover $4.5 billion in stolen bitcoin.

 

This Wall Street Journal article explains how investigators uncovered $4.5 Billion in stolen bitcoin. If you want a great overview of bitcoin, W3, and other topics, try this Tim Ferriss podcast episode.

 

Why Steal Bitcoin- and Why Succeeding Is Difficult

 

“Cryptocurrency has long been a preferred option for criminals big and small, including ransomware operators, drug traffickers and street gangs due to its perceived anonymity and capacity for frictionless international transfers.

 

Despite its reputation as hard to trace, analysts say it is sometimes easier to track than hard currencies. Every transaction is public, leaving a permanent trail. The trick is tying that money to real people.”

 

So, you’re anonymous, but every transaction leaves a trail. Generally speaking, any type of theft has become more difficult, because technology allows us to store information (financial transactions, DNA, phone locations).

 

How The Theft Occurred

 

“The theft came in August 2016, when hackers used malware to infiltrate the Hong Kong-based Bitfinex exchange’s network and moved the bitcoin—then worth about $71 million—through more than 2,000 unauthorized transfers to an outside account. The money lay dormant for several months. In January 2017, small amounts began moving in a series of complex transactions, according to a criminal complaint”

 

The tough part is moving the money- particularly large sums of money- electronically without someone learning your identity. So, how did the thieves attempt to move funds?

 

“The stolen bitcoin was channeled through AlphaBay, an online marketplace operating on the dark web—a section of the Internet only accessible by special software where people can interact anonymously. AlphaBay also advertised itself as a cryptocurrency ‘tumbler’, a service that could exchange deposited bitcoin for others to help prevent tracing.”

 

My son showed me the dark web years ago- I didn’t go back.

 

You can find humorous short stories here.

The First Mistake

 

Once the money had been tumbled through AlphaBay, some of the money was deposited into new accounts at several exchanges. The exchanges were registered to foreign email addresses (created around the time that the hack occurred).

 

First mistake: the deposits were red flagged by the crypto exchange compliance departments- regulators that want to detect money laundering.

 

Hard Work Pays Off

 

Law enforcement had to analyze a ton of data to solve this crime.

 

“Every transaction of bitcoin is recorded in a public ledger for anyone to see—resulting in huge volumes of data. Analyzing their patterns can reveal groups that seem to share a common source or connection. Court documents show federal agents used software tools to sift through the data in search of connections and patterns, a process called cluster analysis.”

Here’s the pattern that federal agents detected:

 

A fraction of bitcoin moved from the cluster to an exchange that sells prepaid cardsA $500 Walmart gift card was sent to a Russian-registered email addressThe transaction was conducted through an IP address linked to a cloud service provided in New York that was linked to one of the thievesA portion of the gift card was redeemed through Walmart’s phone app, using one of the thieves’ email addresses- and the delivery went to the thieves’ address

 

Deliveries: my family gets so many Amazon packages, I think we have our own delivery truck.

 

Investigators found $40,000 in cash, and 50 electronic devices when they raided the apartment. They also found a file listing all of the addresses within the digital wallet where the bitcoin was kept.

 

They seized $3.6 billion in bitcoin (more was uncovered later).

 

Now, the investigation required a ton of work. The thieves’ idea was to make the electronic path so complicated that they would not be caught.

 

Many successful companies use this level of tenacity to understand what customers really want.

 

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How Netflix Learns What Viewers Want

 

Ever notice how the home page on Netflix is always changing- in small ways? The latest feature is displaying the top-viewed shows in ranked order, which gets my attention.

 

How do they make these decisions?

 

Netflix is relentless about using A/B testing (split testing), which is “a way to compare two versions of something to figure out which performs better.”

 

“Netflix’s A/B testing philosophy is about building incrementally, using data to drive decisions, and failing fast.”

 

Here are some examples:

 

They know that they need to capture your attention in less than 90 seconds, or you’ll move onto something else

 

Netflix knows that you look at the images first- then read the details about a show

 

Images with facial expressions draw more clicks, and villains (surprisingly) drive more viewer engagement

 

Viewers prefer images with three of fewer characters

 

So, how much effort are you making to find out what customers want?

 

Tell Me What You Want- What You Really, Really Want

 

If you’re like me, you always avoid answering survey questions online, and after I finish a customer support call. No offense- I’m just busy. But some people are willing to provide answers, particularly if they had a really good (or sadly, a really bad) experience.

 

So ask your customers and prospects. If will take time, but you can eventually gather data to provide more effective products and services to your clients. The best part? Most of your competitors won’t do it- which is why Netflix has thrived.

 

All food for thought.

 

Ken

 

Image: Masked Robbery

Sasastro (CC By 2.0)

 

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How to Keep Your Profits Intact After a Surge of Negative Feedback

Online reviews are always important. This is true, especially in the age of the internet and e-commerce. Online reviews give other consumers a peek at what to expect when purchasing something online. In fact, almost 80% of consumers say they trust online reviews as much as personal recommendations. That’s according to a survey for a study. Now you see how significant online reviews are in maintaining a business’s reputation.

 

If you’re a business owner, there’s one thing that always worries you. It’s getting tons of negative reviews for your products or services. It’s a nightmare for most entrepreneurs. That’s when you would need to dig deep and see what happened. It’s going to be a laborious task determining the error. Not to mention you still have your business to run while dealing with the circumstance.

 

A surge of negative reviews can turn away potential and existing clients. This also means that you may lose revenue. That’s why you have to minimize its negative impact on your business. Here are some tips to help you with that.

 

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Find the Root Cause

There’s nothing more efficient than finding out what’s really causing the problem. Say people have been receiving less than the number of items they ordered. This usually happens when your products are packed manually. You have to check with the people who pack the products. Let them know about the problem and tell them to do their jobs properly. Inspect their operations if they’re doing the right thing.

 

Or you can have someone you trust inspect while you’re not around. See if they’re still doing the right thing even in your absence. Micromanagement is important, especially in times like these. You can only see the root cause of the problem if you look at even the littlest details.

 

Monitor the Reviews

It’s important to see all the negative reviews you’re getting. It’s a way to determine the most common types of complaints you’re receiving. Let’s say that you’re reselling essential oils for scars. It takes time for these types of products to show their effectiveness. If you’re receiving reviews more about the delivery delay, then there’s nothing wrong with the product itself.

 

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Collect all similar reviews and see how quickly you can resolve them. This is one way to ensure that you’re in control of the negative reviews. That’s needed so you can minimize their negative impact on your income.

 

Take Immediate Actions If Necessary

Getting a lot of negative reviews isn’t the time to be complacent. You have to take action immediately. Check all available resources that can help with the resolution of the problem. Make sure that you’re able to get back to the complainants as soon as possible. Acknowledge their complaints. You can then plan on how you can resolve their issues with your products or service.

 

This should give you enough time to think how long it’ll take before resolving the customers’ issues. It’s important because you would want to provide the complainants with a realistic time frame. Doing this can also lessen the risk of the same problems happening again. Thus, saving your business from revenue loss.

 

Damage Control on Social Media

 

As a business that runs today, you may have social media channels that people can see. A survey even shows that 79% of people say that user-generated social media content affects their purchasing decisions. What if your social media presence is tarnished with negative reviews you’ve been receiving? That’s going to hit your income.

 

You may want to do damage control on social media platforms first. It’s an excellent way to address your customers’ complaints collectively. You can then follow it up with a promise that you’re doing anything to resolve the issues immediately. That’s going to somehow prevent you from losing customers. It can stabilize the momentum while you’re still fixing the problems in the background.

 

Customer Retention

You may have to compensate the complainants for the inconvenience that your business caused. This is one way to make sure that customer retention is applied. You should retain as many complainants as you can. It’s easier if they know that you can provide excellent services. You can use their favorable experiences with your business as leverage to make them stay with you.

 

Or just like what was mentioned earlier, you can compensate them with something. You can give them freebies on their next orders or apply big discounts, too. These compensations are only possible if the budget permits. Remember, you’re trying to prevent revenue loss, not cause one.

 

It’s disheartening to see that the damage has already affected your loyal customers. But if you know how to turn things around, you’re in good hands. You can prevent revenue loss and retain your customers.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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How To Avoid Employee Lawsuits

Employee lawsuits can happen for all sorts of reasons, such as unwarranted termination, workplace harassment, or other issues. They can be time-consuming, expensive, and disruptive to your business as well as stressful to deal with.

A lawsuit can also have a negative impact on your reputation and on employee morale. Avoiding employee lawsuits should be the main aim for any business, and by taking some sensible steps, being careful to initiate uniform hiring and management policies, and creating an employee evaluation system, it is possible to help to lower the risk of being sued by an employee.

Always consult an attorney regarding all legal issues.

 

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Know The Laws, Rules, And Regulations

Before you hire any employees, you need to take some time to learn about all the regulations that you will need to comply with. It’s also a good idea to seek some legal counsel to make sure you are starting off on the right foot with your hiring practices.

There are lots of laws regarding hiring practices, rules and regulations about workplace safety, anti-discrimination laws, and more that you need to. Do your research so you can avoid a phone call from a discrimination lawyer or personal injury law firm services because an employee feels they have been treated unfairly or unsafely at work.

 

 

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Be Prepared With Insurance

Identify your company’s risk exposure, and think about taking out a comprehensive commercial liability insurance policy, just in case. A potential insurer will conduct a risk analysis to design to exact coverage that your business needs to help you defend yourself against any possible employee lawsuits that may come up in the future.

 

Create Job Descriptions For Every Position

A detailed job description provides your employees with a list of responsibilities, a management hierarchy, a list of best practices and acceptable practices, and any other information that is needed to clearly define what is expected of the employee every day when working for your company.

A job description that is comprehensive and well-written will make sure that both the employer and the employee are on the same page about what is expected before the candidate is even hired.

 

Define Job Success

In order for your employees to be successful in their jobs, they need to know how your management team defines success and gives that information to employees. Otherwise, how will employees know they are meeting expectations?

Are they expected to meet weekly quotas or monthly sales? Will they have quarterly performance reviews? As they reach objectives and new goals are set, your employees should be informed of any changes to the definition of employee success.

 

Avoid Surprises

When an employee is terminated, it should not come as a surprise to anyone. An employee who is failing to deliver what is expected of them should be put through a review process, receive warnings that they are under-performing, and if needed, be given some additional training to improve their performance.

Only after employees have been told about unacceptable performance, often several times, should you begin the termination process.

 

Provide On The Job Safety Training

You should offer safety training for all employees, both online and on site. Train your team in safe work practices and document the training that everyone has received. Encourage your managers to attend employee safety conferences to learn more about the best in safety practices.

The better-trained everyone is, the safer they are. This can lower the risk of a lawsuit due to an injury at work.

 

Document Everything

Keep detailed employee records, files of performance reviews, remediation training, your company’s safety audits, and everything else important. Get everything in writing. Make sure your employee manual includes an explanation of the company’s termination policy.

Your managers need to file a report when an employee is reprimanded or rewarded. Keep all your job descriptions up to date. Keep everything in writing.

 

Treat your employees with respect, make sure they’re informed, and make sure they understand their job requirements, company policies, and safety procedures. Offer all the training and tools that your employees need in order to keep safe.

 

Be consistent in your hiring and termination policies, establish your company as one that cares, focus on improving employee performance, and be clear about your expectations of every member of your team.

 

Your company and your staff don’t need to have done something wrong in order to find yourself faced with a potential employee lawsuit. However, you can reduce the likelihood of this happening and be better able to properly defend your business, with well-documented, compliant business practices.

 

 

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

 

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Guilt, Shame, Envy, Jealousy… and Marketing

It’s hard for young people to realize that the life presented on social media posts isn’t real.

 

My youngest daughter, born in early 2000 (shares a birthday with Elvis) was particularly impacted by this topic. Gen Z is defined as those born between ’97 and 2012, and social media hit this group like a fire hose.

 

How bad is it? “Instagammers Are Faking the Luxury of a Private Jet for Just $64 an Hour”- you’ll see pictures here.

 

Adults can fall into the same trap, and Brene Brown provides some guidance on combating those feelings. Her interview on the Armchair Expert podcast is great- she’s funny, and talks about her own shortcomings. (Including racing an old woman while swimming laps, because she’s too competitive).

 

Let’s talk about guilt, shame, envy, jealousy- sound fun? Well, I think we can learn something about ourselves, how these feelings are used in marketing, and how ethical business people can market with honesty.

 

You can find humorous short stories here.

Understanding guilt vs. shame

 

“Guilt tells people they did something bad while shame tells people they are something bad.”

 

This statement was powerful for me, because many people have difficulty separating a mistake from their personal identity. You feel guilty about losing your temper, sure, but that doesn’t define you as a bad person. Anthony De Mello makes this point repeatedly in a great book: Awareness, and he does it with humor.

 

So, I do feel guilty for stealing beer mugs (called Schooners) from the Jayhawk Cafe in Lawrence, KS, but I don’t feel shame. Hey- it was 40 years ago in college…

 

Think about required maintenance on your car: you need to change the oil and rotate the tires to keep the vehicle running. Personal reflection and self-talk gets me past the guilt and back on the road- without running myself into a ditch with shame.

 

Differences between envy and jealousy

 

“The difference between envy and jealousy is that envy materializes when one wants something somebody else has—looks, status and wealth are the big trio—while jealousy is the feeling that a relationship is being threatened.”

 

As I look back, I had a great deal of envy in my 20s and 30s, but it declined over time. I remember reading Forbes magazine in the late 1990s and wondering: Am I the only person who’s not getting rich in tech stocks? The dotcom bubble changed that outcome.

 

I was envious of people with wealth, because I thought that wealth translated into security. Well, true to some extent- but having more money does not insulate you from life’s challenges.

 

What got me past envy was getting to know people that I envied- and realizing that they had challenges that were unrelated to money: health problems, issues with children, broken marriages. In many cases, I’d rather have my set of problems than someone else’s, thanks very much.

 

That got rid of envy.

 

I guess jealousy was less of an issue for me, since I was comfortable with most relationships: spouse, kids, close friends. I certainly felt badly if a relationship soured, but it didn’t rise to jealousy.

 

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So, how does this impact marketing?

 

Emotions and marketing techniques

 

“In 2007, the market research firm Yankelovich estimated that the average person saw up to 5,000 ads per day, and after surveying 4,110 people, half of them said that advertising was ‘out of control’.”

 

That was 15 years ago, and the estimate today is 6,000 to 10,000 per day. Makes sense, given the number of devices and apps that deliver ads to us.

 

Since we’re now exposed to so many ads, I think we can spot BS faster. We pick up on marketing approaches, and how they are attempting to manipulate us. Here are two examples:

 

Same price, less product

 

Have you noticed that your favorite food or consumer product seems to come in a smaller package? It’s called shrinkflation, and it’s a real thing. “General Mills shrunk its ‘family size’ boxes from 19.3 ounces to 18.1 ounces.”

 

And sold them at the same price.

 

Gym passes sold in January

 

I’m writing this in early March. My gym is still more crowded than normal, but it won’t last.

 

As Shortform explains: “… aspiration gets people to buy gym passes, but it takes inspiration to get a person to use them. That’s why gym memberships rise by 12 percent in January, but only a fraction of those people ever use them.”

 

Regulars at a gym know about his trend, which happens every year. Developing a new habit is really difficult, and it’s hard to stay on track.

 

If you’re like me, you feel manipulated when certain ads come over the wall. Remember “Don’t Get Mad, Get E*Trade”? The clear message was: other people are getting rich, I envy their wealth, so I’ll use E*Trade to get wealthy, too.

The ads are clever, but I feel queasy…

There’s a better way to market.

Find a urgent problem and solve it

 

If your product solves an urgent problem, and sells for a reasonable price, you don’t need to manipulate prospects. Just tell them what the product does, and how they’ll be better off after buying it.

 

Pretty simple.

 

Here’s an example: I love my Merrell hiking boots. They’re durable, and keep my feet dry in any type of weather. I’ve walked my dog all winter using my Merrell boots, and I’ll always buy the same brand.

 

This is the home page. It’s all about getting outside and self-care. When you go outside, our boots will hold up under heavy use, and keep your feet dry.

 

Problem solved.

 

Now, it will take many exposures to the marketing message before a prospect may be interested in buying.

 

“The Rule of 7 states that a prospect needs to “hear” the advertiser’s message at least 7 times before they’ll take action to buy that product or service.

The Marketing Rule of 7 is a marketing maxim developed by the movie industry in the 1930s. Studio bosses discovered that a certain amount of advertising and promotion was required to compel someone to see one of their movies.”

It’s tougher to get attention today, but the strategy is the same: if you’re solving an urgent problem, you can eventually get a prospect’s attention with effective advertising.

You can do it without manipulation- and buyers will appreciate that approach.

 

All food for thought.

 

Ken

 

Image: Greed, Sam Rodgers, (CC By SA-2.0)

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