Mohit Tater's Blog, page 706

Working with Your Debtors to Get Your Money Back

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With late payments, the key is to strike a balance between being polite and civil without being ineffective, and being assertive without being too threatening.

If you follow the steps laid out here you should be able to work very well with any debtor to get your money back, while maintaining a good relationship and the possibility of continuing business with them in future.

Your Debt Collection Mindset

Collecting money from people is similar to salesmanship and marketing. Understand their situation, and what pushes their buttons (through fear or promise) to dramatically increase the probability of them taking action and paying you.

Many business owners new to the game find it daunting to pursue debt, and almost feel like they’re being too threatening or mean. They hesitate to take strong measures. You must get rid of this mindset before you begin or you’re likely to spend a lot of stressful time spinning your wheels.

It’s your money, you have every right to go after it. They signed a contract with you agreeing to a certain date. So pursue without hesitation, and use whatever tactics work.

Decide Your Steps

First, decide your action steps, and when you will begin. And stick to this. So the moment you realize their payment is late send a gentle reminder, and then determine how long you will wait until the next step.

This way you’ll stop yourself worrying every day if you should do something more or not. And of course, your existing relationship with the client will make a difference in how much leeway you give them and how easily you can talk to them about it.

Become More Assertive

So your first step is a gentle reminder by phone or email. When their time is up, the next step is to make a clear demand for payment.

Here you want to make it clear that you no longer think they’re just confused and getting their accounts in order. Make it firmly clear that you either want the payment now, or a firm commitment as to when and how the payment will be made.

Include the date they should pay by, unless you talk and come to a solid agreement. Remind them exactly how to pay you. And clearly express what will happen if they do not pay by that date, which may be a debt collection agency (DCA) like PJCDS.

Talk, Listen, Understand, but be Firm

Depending on how large the contract is, contact your client and discuss it with them. Listen, and understand their situation. The more carefully you listen, the more they will like you and will find it harder to ignore your requests for payment.

Try to come to some sort of agreement that suits you both, such as part payment over time. And make it clear this payment schedule must be met. Often such leniency will be appreciated by the client, and may even help your relationship down the line.

But while you’re civil, also explain your situation so they understand the steps you must take. If you have already stated your procedure, involving a DCA, they will more likely accept this and not feel resentment towards you.

He who shouts loudest gets paid first” – Duncan Bannatyne

Put yourself in your client’s shoes.

Most often in these cases, the company is just going through cash flow problems, as we all have at some time or other. And they have to make a decision for every bit of revenue that comes in – do they put it into the business, pay their employees, or pay one of their creditors.

And which creditor to pay? This is how most people think about it:

“Well, the quiet one who never even mentioned the debt – they don’t seem to even mind the late payment, do they? But the other one who’s sending us emails, calling us, writing letters every day, who even came to visit the office and who appears to be very serious about setting a DCA on us – perhaps we should pay them first.”

Persistence Pays

If you persist, and keep at them, you’ll massively increase your likelihood of getting paid. And then you will also be less likely to have problems with that company in future.

And Finally, Withhold Service

One of the best ways to get payments, if your business relationship allows it, is to just withhold your service from them until they pay. Often the disruption to their business of just the threat of this will be enough to get them paying fast.

Always combine the calm, friendly approach with the gentle threat of a big stick – namely a Debt Collection Agency (DCA), and then even the Small Claims Court if it’s going that far.

But hopefully if you use this procedure, you won’t need either.

The best way to introduce a DCA is if you partner up with one, and all your clients know they deal with your payments automatically right from the start. Funnily enough, this makes it a lot easier to work with any debtor.

 

Scott Bryan is a financial blogger who enjoys explaining the arcane world of finance in everyday terms. Formerly a high street bank manager for over thirty years, he knows that everyone has unique requirements and so is dedicated to helping you find the right solution for you. He now works as an freelance financial writer when not consulting.

Choosing and Developing your Website: The Key Considerations

For any new or established business, the deployment of an engaging and functional website is absolutely pivotal. With an estimated 15% of the UK workforce now self-employed this need is even more pressing, as business ventures of all scopes and sizes must develop a purposeful website that sits at the heart of their model.

There are a number of different facets associated with developing a successful website and online presence. While entrepreneurs and business leaders are able to take care independently, however, there are technical aspects of development that must be handled by viable industry experts.

What are the key considerations when developing a website?

With this in mind, what are the fundamental considerations when designing and developing a website? Consider the following:

Determine Clear Goals and Actionable Objectives for your Website

Initially, you should focus on creating one or a number of actionable goals for your website. More specifically, you should determine exactly what you want it to achieve, whether it is designed to be profitable or simply to serve as a medium through which to interact with and engage customers. This is an important starting point, as the intended purpose of your site will have a huge influence on its design, layout and the amount that you are willing to invest in its development. While monetised sites will often feature advertising space and deliver higher returns, for example, blogs and informational websites will feature richer content and place a greater emphasis on quality.

The Design of your Website, Branding and Layout

While website developers and designers will help you to create a viable, finished product, it is important they are able to execute a clear and concise vision. This would ideally come from you, as your website is the online representation of your brand and must, therefore share consistent messaging. By creating a visual layout of your site and presenting this to developers, you can gain feedback before arriving at a design that is both achievable and desirable. Remember, it is your responsibility to ensure that the layout of your site and its incorporated branding adequately represent its purpose, as otherwise your investment will be wasted. 

The Employment of Professional Services

There are a wide number of expert service providers in the website design and development sector, in addition to those that deliver professional hosting services. It is important to select your service provider carefully, however, as not only will you be forced to work with them closely but this will also represent a serious business cost. Your main challenge will be to save money without compromising on the quality of service, although there are a number of firms that deliver comprehensive design and hosting packages. Take 1and1.co.uk for example, which offers an array of free and paid website design templates and styles while also providing reliable private and powerful hosting. 

Is your Website Optimised for Mobile Usage?

Whether you operate a product or service driven business, you cannot ignore the power and influence of e-commerce in 2014. A growing number of people are using their mobile devices to reference, source and purchase products, with smartphones expected to account for more than 30% of global retail e-commerce spending by the year 2018. This will represent a 15% rise in just five years, so it is absolutely imperative that your website is optimised for mobile usage and devices. This will require you to create the ideal balance of text and imagery on your website, while it is also important to use large and actionable icons to provide a seamless connection with your social media accounts. Your hosting team should also ensure that each landing page can load within 3-7 seconds on a mobile device, as otherwise it may struggle in a competitive marketplace.

How to Build Your Personal Brand on the Social Web

Personal branding is something that each of us should do on a consistent basis, in both our professional and personal lives. It is not difficult, but rather a consistent process that requires considerable time and effort.

Tell Your Unique Story

Before starting to write your mission statement, ask yourself: What feelings do you want to evoke in your audience? What do you want people to think – and feel – about your business? What do you want to hear them talk about you? When you build a strong enough brand, you basically have no competition.

Your story – your mission statement – communicates what is important to you. Write down your own statement before going public. This will help you find the right words and easily connect with like-minded people and businesses.

What to consider:

Goals – Ambition in life (short-term and long-term)
Key values – Who you are and what your beliefs are
Accomplishments – Professional and personal
Contribution – How can you make a difference in the world, including your family, friends and workplace?

Since people are driven by emotion, your story – and the emotions it evokes – plays a critical part in the success of your personal branding. The core essence of your brand isn’t so much what you do, but WHY you do it. Communicating your purpose, your reasons for doing what you’re doing will give people a strong reason to connect with you and your brand.

Leverage Social Media

Here is how you can use social media channels to augment your identity and allow people to easily see what you stand for:

LinkedIn- Use it to make your own personal ad agency, to search for jobs, connect and share your experience in a professional setting. 


Twitter– Use the same photo or avatar from your Facebook and LinkedIn profiles. Update your profile and include a link to your website / blog or LinkedIn profile.


Facebook– From over one billion users, very few people actually brand themselves professionally on Facebook. De-clutter your profile from unnecessary personal photos and input your work experience, while disabling the ability for others to tag you in pictures and videos.


YouTube– Create a brief video of you talking about your unique talents and why you are the best at what you do. Also, take quick videos of you and share an interesting topic – it allows others to see the Real you in action.


Blogging – This is yet another channel for you to convey your interests and expertise. Blogs are also powerful assets because they rank high in the search engines and refer more to your interests and expertise over time.

I’m definitely not introducing new tools to anyone, but rather trying to tell you how to best utilize each of these channels to further build and expand your personal brand.

Personal branding isn’t easy, but assessing your unique strengths, your life and business goals and how you want to be perceived, can have amazingly positive results. It is about sharing who you are, putting yourself out there in an imperfect, exciting and unique way that resonates with lots of other like-minded individuals.

Additional Reading

Here are 4 of my favorite books on personal branding that are very much worth reading:

Crush It!: Why NOW Is the Time to Cash In on Your Passion by Gary Vaynerchuk

Me 2.0: Build a Powerful Brand to Achieve Career Success by Dan Schawbel

Trust Agents: Using the Web to Build Influence, Improve Reputation, and Earn Trust by Chris Brogan & Julien Smith

The Start-up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career by Reid Hoffman & Ben Casnocha

A Wonderful Tool For a Job Search

Credit: slightlyeverything

Browsing job sites for the employment, you may notice that some of them are posted directly by the employers and some by recruitment agencies. In the first case, it is clear that the company is looking for someone to fill the vacant positions, in the second case it is not. It happens that on the same site the same position is put by the employer and his representative from the recruitment agency. So, if you have noticed that the description of the two vacancies in the ads are the same at JobTonic in Houston jobs, it is better to check in advance whether we are talking about one post, otherwise you can go to the “extra” interview.

What is the role of recruitment agencies?

Recruitment agency, acts as a filter to put away the unsuitable candidates, and the company-employer receives a list of selected applicants that are the most suitable for the vacant position as a result.

Are recruitment agencies worth applying to?

It is not necessary to be afraid of vacancies published by recruitment agencies, the same as to apply to them directly through the website of the agency. Employment agencies are interesting due to the fact that sometimes they hold the selection of the candidates for the “exclusive” job that companies are not willing to advertise (it is mostly about the managerial positions of middle and senior managers), or when people are looking for small offices of western vendors at good wages. In addition, the agency can help to “promote” your candidacy in a large corporation, which it is almost impossible to reach: in these companies the flow of incoming e-mail with resumes is so large (and it is together with spam) that your email may get lost easily.

Employment agencies represent the interests of employers who pay for agency services (usually 15-20% of the annual income found through an agency employee). Therefore, if an agency asks you to pay for its services and / or access to some “top-secret base jobs” – this is most likely a fraud, and you’d better find another agency.

What are the guarantees of a successful search?

The guarantee that you will get found on the Internet does not mean you will get the job – everything will depend on how you show yourself at the interview.

For jobs search, the Internet is a wonderful tool in all aspects. There is no need to buy a ton of newspapers, search for interesting ads, phone the companies trying to invite yourself for an interview. It is enough to sit at the computer, compose a resume, upload it to a couple of dozen websites – and wait for the “fish”. Don’t miss your chance to find your position with the help of Jobtonic.com, as it is your helpful assistant in the job hunting. To answer the questions of employers you can by e-mail or even through ICQ, as it is a blessing that an IM communication is not considered only for young people, and it is fully used by serious managers. Before the interview, the recruiter may be asked to perform a test task – for example, to write a small note in the genre of reportage or make a color correction of the photos. The results of work can be sent by e-mail, so as not to waste time on a trip to the office and back.

Keep trying!

But there’s no guarantee that you will get the found on the Internet job, as the work worldwide network does not give such guarantees. Everything will depend on how you show yourself at the interview. Here every detail plays its role – how you are dressed, and the way you answer the interviewer’s questions, and how you behave. The main thing is to not be afraid and not to be nervous, and then on the stupid question of the Director of Human Resources, “How do you put a giraffe into a refrigerator?” You can confidently and with a smile reply: “Very simple: open the refrigerator, put in the giraffe and close the door”.

Five Things to Look for when Buying Web Hosting

 

Credit: infocux

When you are building your website for your business, it can be so easy to get caught up in the design that you do not give much thought to the actual hosting of your website. However, this is an essential part of getting your site up and running and there are several important factors that you need to consider before purchasing web hosting.

Amount of storage

It is important that you have enough storage capacity for all the data that you need on your site. As a minimum, you will want to ensure that you have several gigabytes as this should allow you to add to the site when needed. Even if a company offers unlimited storage they may charge you for exceeding a set limit that they consider to be normal use, so you should make sure you know what this limit is.

Amount of bandwidth

The amount of bandwidth that you need is closely linked with the amount of storage. It is important to remember that any data that you upload to your site will count towards the amount of bandwidth that has been used. It can be very easy to reach the bandwidth limit quickly if it is not set high enough and if this happens visitors may not be able to access your site or, again, you may face extra charges.

Tech support

Sometimes things can go wrong with your site and you will need to access tech support. If this does occur then you want to be able to get in touch with them as soon as possible and receive a reply quickly. You should find out how the company can be contacted in the event that they are needed and whether any support is available out of business hours.

Back up of the site

As much consideration needs to be given to how your site will be backed up as is given to the backup of the rest of your data. It is important to find out what policies the hosting company has for the backup of your site and whether this meets your requirements. It is also worth finding out whether they can also offer backup protection for your databases as well. If no backup services are offered, then you will have to make your own arrangements.

Uptime and reliability

For your website to be truly effective, customers need to be able to access it whenever they want to. If they find that they cannot access your site too many times they may give up and go elsewhere. Any hosting company that you are considering using should be able to provide you with statistics regarding the uptime of other sites that they host.

Finding the right web hosting company is crucial to the success of your website and, therefore, for your business. You should give yourself enough time to find a company that you are happy with and offer all the services that you require. If you wait until your website is ready to go live then you may rush into a decision which may not be the best choice for your company. It is a good idea to begin to consider which web hosting provider you will use as soon as you start designing the website.