Business Management News

We are living in a world of abundant data and all that data is collectible for marketing purposes. A lack of data can hinder a company in a big way. Not knowing who your customers are, what they want, or how they react to marketing will negatively impact your company. That is why collecting proper data is crucial for business, no matter if you’re self-employed or a large corporation.

Increasing customer engagement is a goal for every business. Most business owners understand that the more engaged their customers are, the more profitable their business is. Gallup research shows that a fully-engaged customer represents 23% more revenue than average. Another study conducted showed that 80% of consumers are more likely to make a purchase when brands offer personalized experiences. Based on this information, it is pretty clear that customer engagement plays a huge role in a business's success. Although many business owners understand the importance of customer engagement, most of them do not know how to effectively increase it. In this article, I will be discussing four things you can do as a business owner to increase customer engagement.

As a small-business owner, you have to wear many hats and bear heavy responsibilities. Ultimately, the success or failure of your venture comes down to how well you manage, delegate, attract new business, and handle finances. Finances are a huge stress for any business, big or small, and it’s important that you manage your stress levels and quality of life through it all. That’s difficult when there’s an endless array of tasks and details to tend to every day, and important matters like diet, exercise, sleep, and stress management are apt to fall by the wayside. It’s important to provide for your own care despite the chaotic nature of your role and the responsibilities that are on your shoulders.

Starting a business from scratch can be both a liberating and exhilarating experience for the aspiring entrepreneur. However, it is not a decision to take lightly as it requires the person to willingly make significant changes to their lifestyle, mindset, and level of commitment that is required for building a business. After all, it is significantly different being a small business owner rather than being an employee that works for someone else. For instance, a person that is someone else’s employee enjoys the reliability of receiving wages and benefits for their daily efforts in helping the business stay functional. It also means the employee has vast amounts of company resources at their disposal, whereas the small business owner has to develop it themselves.

I hope 2018 was a great year for you and your business and that your expectations for 2019 are even better. Most of you haven’t even begun to think about taxes for 2018, but I wanted to start the year asking you to think about taxes for 2019. I know, I know, who cares about a tax return that isn’t due until April of 2020 but I will put my money where my mouth is. You may have heard me say that almost all tax savings ideas, the really good ones, end as the New Year comes in. Most great ideas have to be considered and implemented before the end of the year and before you actually start filling out any of those silly IRS tax forms. I want to help you save up to $5,000 in taxes for 2019 just by reading this idea and then saying, “Yes”!

No matter how experienced or skilled a salesperson may be, closing the deal is always the most challenging (and critical) part of the process. It doesn’t matter if you can reel a potential client in if you can never actually hook them.

When you are operating a business there is nothing as bad as a missed opportunity. Any unexpected event whether manmade or natural can greatly disrupt your business. To avoid such problems it’s very important to create a business continuity plan. A good business continuity plan will help you reduce the loss and downtime in case there is a disruption. It will also help boost your employee and customer confidence and ensure that your business is back on track. Read through to learn some of the tips that can help you.