business growth Archives - Page 12 of 17

Will Outsourcing Help You Grow?

When many of us hear the word “outsourcing,” we think of huge corporations firing their domestic employees and hiring overseas contractors to do the same job for less money. While that is one (extreme) example of outsourcing, choosing to outsource simply means hiring an outside contractor instead of a full-time employee to do a job, or to contract out a task that you’ve been doing yourself.

a black clock on top of money bills. — *Outsourcing can help save you time and money.*

Why outsource, or to put it another way, hire independent contractors? How can paying for someone to do work for you actually save you money? Well, if your small business has full-time employees, then you know how expensive it is to hire them; it’s also very costly to lose an employee, so the last thing you want to do is overburden them with tasks they weren’t hired to do. And, if you don’t have employees, or if you have minimal staff, maybe you think it’s cheaper and faster to do everything yourself. But unless you’re highly trained in multiple disciplines (IT, admin, bookkeeping, etc, etc), then bringing a professional onboard can mean getting things done in a way that saves you time and money. After all, your time is money!

So the question becomes: to outsource or not to outsource? Let’s look at what jobs you should consider outsourcing, whether it might be the right time for you to do so, and the pros and cons of hiring independent contractors.

Commonly Outsourced Services

You probably already know what tasks are becoming burdensome to you or your employees, and most likely these tasks fall under three categories. When it comes to outsourcing, there are three main areas that most small businesses outsource: operations, marketing, and finance. Many tasks can even be outsourced to apps!

Operations:

- Admin – Most administrative tasks can either be done by a remote independent contractor, or even a virtual assistant app.

- Hiring – Stop getting your postings lost in a sea of other job openings! There are tons of reputable recruiting firms out there that you can use.

- Cleaning services – If you have a physical workspace that clients or customers enter, the cost of having it clean, presentable and client-friendly is well worth it.
- Time management – This one is a no-brainer. There are so many timesheet and time tracking apps out there that there’s no excuse to have any employees manually filling out forms.
Marketing:

- Design and development – A good logo is a must, so don’t hesitate to consult with a pro!

- Social media marketing and SEO – SEO can be a very complicated thing, so if it’s not your jam, then you should consider looking into a specialist, who can offer valuable expertise that will get your business noticed.
- Customer service and support – This is one area that can really have a big impact on your growth, so if you’re finding that customer requests and questions are reaching an unmanageable level, you should consider outsourcing customer support. Bonus: you can hire independent professionals in different time zones and offer 24/7 support!
Outsourcing a bookkeeper can help find ways to save more money.

Finance:

- Bookkeeping – Having a bookkeeper consolidate all of your info can make it easier to spot where you’re losing money and where you could be spending less.

- Tax preparation – Similarly, tax professionals can spot deductions you may have missed.

- Payroll

When to Outsource

There was a very important point made above that we don’t want you to miss: as the business owner, your time is very valuable. Every hour you spend on things that could be outsourced, such as the tasks outlined above, is time that could be spent growing your business. So, to determine whether it might be time to think about outsourcing, start by looking at the “lower” priority tasks that are taking up your time, track the amount of time you’re spending on each task, and calculate how much it’s costing your business.

To help you, ask yourself these questions, starting with the question of time versus money:

Are the costs of the service lower than what it would take in time and manpower to get it done yourself or by an in-house team?
Are some responsibilities pulling you or your employees away from higher priorities?
Are the tasks that you’re considering outsourcing services offered by your business? If not, don’t waste your time on it; stick to the more important stuff!
Is there a competitive advantage to doing it in-house? For example, unless you’re a tech company, is there a reason to deal with IT yourself or have an in-house IT team?
Is the service something you need help with on an ongoing basis, or could you contract someone to do it only when needed? A once-a-year marketing campaign, for example, doesn’t require an in-house staff, and it will be more cost-effective to have a pro take care of it than trying to do it yourself.
Similarly to the point about using outside marketing, is the task something someone else (or software) could do better and more efficiently?

The Pros

It might be time for your business to use independent contractors, or put some money toward some excellent software to help you in your day-to-day operations. But before you decide, take a look at the pros and cons of outsourcing. First, the advantages:

Reduces and controls costs – Outsourcing is usually cheaper than hiring an employee, and having a fixed contract means you’ll always know exactly what will get done for what price.

Improves focus – By outsourcing less important tasks, you increase you and your employee’s focus on tasks that are more important to your growth.

Expands talent pool – You can draw from a potentially endless pool of talent!

Saves time (and money) – You’ll have more time, plus professionals can get things done in less time (and remember, time is money!)

The Cons

Contractors are not as involved/invested – An independent contractor may not be as invested in your business as a full-time employee, and will also not have the same knowledge of the day-to-day workings and goals of your business.

Communication issues could arise – When you outsource, checking in on people doing work for you becomes more difficult. This is especially true if you outsource to another country, where language barriers and time zone issues may come into play.

Increased security threats – The more people who have access to a company’s networks, data, and resources, the more security threats exist.

While there is definitely some serious consideration that needs to go into choosing to outsource, don’t think of it as a bad word! Hiring independent contractors, or purchasing software to take some of the burden off of you, can actually be a cost-effective way to keep your small business growing. Ask yourself the questions above, consider the pros and cons, think about what tasks you might need help with, and decide whether freeing up your time is exactly what you need to reach your goals.

Is Social Responsibility the Path to Growth?

The economy may not be at its strongest, but there are still customers out there willing to spend money. The key to connecting with them is knowing what they’re looking for, and that doesn’t mean simply targeting your product or services to the right demographic. What many customers are looking for now is something more than quality and value, although those things are important. They are looking for a business whose ideals align with their own, and that they see as socially responsible. You can grow your small business by identifying what your company stands for beyond its bottom line and thinking about what you’re offering your customers besides products and services. If you can find a way to connect with them through shared values, then you’re likely to find yourself with a loyal following.

Should You Make Social Responsibility Part of Your Brand’s Identity?

illustration of hands in the color black positioned around the earth — *Companies that do business with other companies can help make a difference in the world and grow their business.*

Being socially responsible might already be important to you in your daily life, but what about your business? Consider the following: in a recent study, more than half of consumers said that if price and quality were equal, a brand’s social purpose would be the most important factor when they’re purchasing something. In another survey, 63% of those surveyed agreed with this statement: “By choosing to do business with companies that are more socially responsible, I can make a difference in this world.”

Customers are sending a clear message to businesses, and employees might be just as eager to see that your business is socially responsible. Socially conscious companies often create positive work environments and have dynamic ideologies that attract top talent. If you’re looking to recruit the best, know that many top hires are looking for companies that they think are giving back to their communities.

Can small businesses grow through being more socially conscious? Yes! Consider brands like Tom’s of Maine or Burt’s Bees. Both started off small, with clear social missions, and both have ended up becoming so successful that they were acquired for millions of dollars by multinational corporations. So by following your conscience, you’ll be sticking to your own values, as well as pleasing customers and employees, and growing your business. What’s not to like?

Steps to Take

You may be wondering how, as a small business owner, you can go about incorporating social responsibility into the workings of your company. It’s all well and good for behemoths like Starbucks with nearly $17 billion behind them to do things like pay for health insurance and give back to developing countries, but what about your small business?

You don’t have to be running a giant corporation to make social consciousness part of your brand’s identity. In fact, according to Susan Salgado, a co-founder and co-chair of the New York City chapter of the nonprofit Conscious Capitalism, it might actually be easier for small businesses to be socially responsible. “Small companies are more nimble, so it’s easy to stay more closely attached to your purpose and values,” Salgado said.

It’s something you want to do, it’s something you can do, even as a small business owner…the question is how to incorporate your sense of social consciousness into your business. We’ve identified the steps you should take to help you make social responsibility part of your brand’s identity.

1. Establish Your Social Mission

Step number one? Know what your social mission is! You probably already have a mission statement for your business; a social mission statement will emphasize how your company will actively seek to help your community. Avoid being too vague here – you should be able to articulate what your mission is, and be able identify how you can accomplish it. If you can’t identify a specific mission, you won’t be able to translate your ideas to your employees, or give customers a reason to choose you over competitors.

2. Set Goals, But Be Realistic

Having a specific mission statement is one thing, but you also need to think about what exactly you are going to do and how you can realistically set about doing it. First, consider what resources you have that you can allocate to doing good in your community. Then create a list of goals to try and reach in the next 6 months or so that won’t disrupt your day-to-day operations too much.

When it comes to your goals, follow the SMART method and make sure that they are realistic, measurable, and attainable. Think about the following:

What needs are there in your community that you could help address?
How much money – and time – can you realistically set aside to do good in your community?
Is there a way to help educate or create awareness of an issue in your community?

3. Get Employees In On It

As we have already said, you should be able to clearly articulate your social mission; this includes being able to educate your employees on exactly what you’re trying to do. Get them on board and keep them informed every step of the way so they can get involved, and they can pass your vision on to customers.

You should also be clear what their role in your business’ social mission is. While it’s ok for some employees to remain on the sidelines and simply be advocates for your brand’s social consciousness, you might want to create a team of other employees who can help you figure out ways to positively impact your community.

4. Find Other Ways to Give Back

a man and woman with white shirts that say volunteer on them with a wodden box on a table that has a white sign with donation on it — *You can donate, volunteer, and encourage your employees to help.*

Having your brand attached to certain ideals via your social mission statement and putting resources towards your socially responsible goals are great first steps. So what are some other concrete ways to become a more visibly socially responsible business? Consider donating money or resources to local charities. If your small business has limited money to put aside for philanthropy, it would be just as beneficial to charities – and your business – for you to organize small fundraisers or drives, or set up donation boxes.

If money is an issue, you can also consider volunteering your time, and encouraging employees to do the same. You can organize team volunteer days, during which you and your employees spend a day working for a charitable organization. Consider also finding ways to reward employees who volunteer their time, perhaps by offering paid days off to spend their time engaged in philanthropic work.

5. Look at Your Own Labor Practices

There are so many ways to become known for your socially responsible activities, but remember that social consciousness starts within your business. Being an ethical employer is so important not only for your employees’ quality of life and job satisfaction, but also for your brand identity and growth potential. Treat your employees with respect, value their work, compensate them fairly, create a safe and healthy work environment, and allow them opportunities for growth in your company. Word will spread that your business lives up to your ideals.

6. Think About Sustainability

Finally, being a valuable member of your community includes being environmentally conscious. You can create a more sustainable workplace by:

Going paperless whenever possible
Participating in recycling programs
Using eco-friendly lighting, supplies, and packing material
Encouraging carpooling
Switching to renewable energy sources

Remember, being a socially responsible business does not mean making a one-time donation or pulling marketing stunts. It’s a way of life, and it takes commitment. But if you’re willing to go the extra mile and stick to your ideals, you can make a profit and make a difference. Pay attention to both sides of the equation and you’re sure to grow.

What’s Your Management Style?

It takes a lot of work to keep your small business growing, so having a strong team of employees behind you might be one way that you get it all done. But have you ever really stopped to think about how you manage that team? We’re not just talking about day-to-day, practical things, like hours, time off, salaries, etc. We’re talking about your management style. Are you an authoritarian? A visionary? A democratic leader? And does it matter? It does, because having the wrong style for your business and team can spell disaster. Let’s look at five management styles, to see which one might suit you and your business best.

Why Your Management Style Matters

Your management style is the way that you choose to lead and work with your team. This includes everything from how you communicate with your employees and manage their projects to how you discipline them. How you manage your employees can have a huge effect on your business and its growth. Consider this one stat alone: a recent study has shown that only 30% of employees are actually “engaged” at work, and approximately 70% of that disengagement was attributed to how they were managed.

Different teams, businesses, projects, and tasks might require different management styles. Choosing the wrong one can result in employees who aren’t engaged, further leading to low productivity, high turnover, poor quality work, absenteeism, and lower profits. In short, it’s hard to grow if you’re not paying attention to your management style.

1. Authoritarian

Also known as an autocratic or directive management style, this style involves taking full control in almost all situations. You make all the decisions, you expect total obedience, and you create a strict hierarchy and reporting structure for your team.

Pros:

Your employees will never need to wonder who is responsible for what
It’s efficient: decisions are made quickly and seamlessly

Cons:

This style can easily create a negative work environment, where employees feel that they are being micromanaged, and that their creativity is being stifled
It takes A LOT of time and effort on your part!

Conclusion:

The disadvantages of the authoritarian management style usually outweigh the benefits, but it can be useful when you are first starting out with a new team, who may need more direction at first.

2. Democratic

This style, also known as a consultative, consensus, participative, collaborative, or affiliative style, works in theory the way a democratic government works. Although you have the final say, everyone on the team gets a voice. You encourage employees to share ideas, thoughts, suggestions, and solutions AND you take them all into account before you make your decision.

Pros:

Every member of your team will feel like they have skin in the game, which can lead to higher morale and increased engagement and productivity
It encourages innovation and enhanced problem-solving skills
Two heads – or three or five or ten heads – can be better than one!

Cons:

It can be the exact opposite of the authoritarian style when it comes to efficiency: listening to everyone’s ideas and having them hash it all out can take a long time
Some employees could become resentful if they feel like their ideas are never being taken up

Conclusion:

If you’re good at moderating what can become heated discussions, and you value candor and constructive criticism, as well as employee innovation, and you’re not in a crunch for time, this can be a good style to utilize. One thing to remember, though, is that it will really only make sense if everyone on your team has similar roles or is working towards the same goal.

3. Visionary

Also known as the inspirational style of leadership, utilizing the visionary style means that you are focused almost exclusively on the big picture. You are there to offer motivation and convey an overall vision, but you mostly stay out of the day-to-day operations.

Pros:

It can help motivate your team to work towards a specific goal, or get them back on the same page if they’re divided over something
If your business needs a change of direction, putting on your visionary manager’s hat can help them to see what you want the future to hold

Cons:

If you’re not focusing on details, someone else has to be! That can become a problem in certain work environments.

Conclusion:

While this style is great for cheerleading your employees towards a goal, it’s not for everyone or every team. You need to be confident in your charisma and ability to motivate; this style is certainly not for introverts. In addition, your team should be experienced and very knowledgeable about the day-to-day workings of your operation, since they’ll be responsible for it all.

4. Servant

This style is also known as the coaching style, and its main focus is on supporting your employees. You spend your time coaching, mentoring, and advising, as opposed to dictating and enforcing rules.

Pros:

This type of style requires employees to learn from their own mistakes rather than from being disciplined, so it can be effective in helping your team members improve their performance, develop their skills, and advance professionally.
Taking on the role of mentor can mean building strong bonds between you and your employees

Cons:

This style also requires a lot of time and effort on your part.
While focusing on learning opportunities and improvement can be positive, it can also tell your employees that the fact that they tried is more important than the final outcome of their efforts
It can be ineffective for some employees, especially ones who are not particularly self-motivated

Conclusion:

If you’re willing to put in the time and effort AND you are very confident that you know your employees’ jobs in and out and can effectively coach them, being a mentor to them can be a very positive experience. However, if you’re crunched for time, or your team is focused on producing a product or on customer service, you may want to steer clear of this style, since it tends to be less focused on the quality of their output and more on their professional development.

5. Laissez-Faire

If you’re looking for a style that’s the exact opposite of micromanaging, the laissez-faire style is it. From the French for “let do,” this style emphasizes complete employee freedom. You show up to get your employees going, giving them guidelines, information, and answers to any questions. Then you fade into the background to let them do their thing, only stepping in if problems are brought to your attention. You then review the outcomes and provide advice or recommendations.

Pros:

You’ll have more time for your own work
Your employees will be empowered to take risks, and you might find increased creativity and innovation in your business.

Cons:

If your team is not self-motivated or skilled enough, or not great with time management, you could run into real problems. Your employees might miss deadlines, or produce unsatisfactory work that you’re only aware of once it’s finished.
It can be risky for large or critical projects, because you might not know about problems until it’s too late.
Some employees may feel like they’re lacking a leader or a mentor, and could even feel neglected or that they’re floating around with any real direction.

Conclusion:

This style will really only work for your team if you know them VERY well: you know that they have the knowledge, the drive, and the time-management and problem-solving skills to get the job done right. If that’s the case, then you could use this style to give a burst of creativity and innovation to certain projects.

When you started your business, exactly how you would manage your employees might not have been top of your list of things to think about. But now that you’re in the thick of things, you should stop and look at whether you’re using the right style for your team and the work they’re doing. It could make the difference in morale, productivity, and, ultimately, your bottom line.

So do you recognize yourself in any of the above management styles? Do you see any ideas that you can incorporate into the way you direct your team?

You’re Growing Fast! Now What?

You probably had a lot of dreams for your small business when you started it. Was one of those dreams rapid growth? We can’t blame you: who doesn’t want to see their revenues soar as their vision comes to life? Hopefully that dream is coming true for you! If it is, though, you need to be careful not to fall into certain traps, and see your growth begin to plateau. Rapid growth can be just as much a curse as a blessing for small businesses, so use the following tips to keep yourself on the right track.

person in a suit pressing a button with the words "grow, learn, explore" next to it — *In order to keep up with your rapid success of your business, you will have to examine exactly why it is growing.*

1. Examine Why You’re Growing

Ok, you’re excited. Business is booming! But you can’t assume that this influx of customers – and revenue – is going to last forever. You need to take a step back and really examine the reason for your growth. If you don’t, you risk collapsing after the rush.

Why is the risk of failure higher after a period of rapid growth? Because that growth not only means more revenue, but it also means more expenditure. The growth slows down, and you’re stuck with more expenses than you can support. Understanding why you’re suddenly getting so much more business is critical. Knowing this will help you to plan for how much of your product you should have on hand at any one period in time, what your staffing needs will be, as well as the most important thing: when the growth is likely to slow down.

2. Make Sure Your Customers Are Still Number One

Don’t be blinded by the dollar signs in front of your eyes! What’s the one, most indispensable thing that has gotten you to this point of rapid growth? Your customers! And that means the one thing you absolutely shouldn’t skimp on is customer service. After all, nobody likes being put on hold, shuffled around, or generally being put on the back burner, especially if your customers are used to a high level of service.

To keep on top of what your customers are thinking, ask for their feedback with surveys, as well as on social media. Believe us, they won’t hold back in cyberspace! It’s best to be proactive when it comes to what you’re customers are saying on social media: remember, according to studies, 47% of people have used social media to complain about a business, 50% of customers will boycott a brand if they get a poor response to a complaint, and a whopping 92% of customers will call you out on your poor customer service. If you start to slack in the customer service department because of your rapid growth, you will most certainly pay the price.

You might also need to put more resources into your customer support team, which brings us to the following tip.

3. Figure Out What Your Staffing Needs Really Are

Has your rapid growth left you feeling short staffed and scrambling to stay on top of everything? It’s time to reassess your staffing needs and figure out what you really need. That can be tricky, since you don’t want to make the mistake of hiring too many people, because you could end up in trouble if your growth does level off. But not having enough staff could stall your growth or lead you into the trap of not being able to provide enough customer service.

What to do? First, critically assess your current staff and make sure that their responsibilities are being assigned in a way to meet the increasing workload. Next, consider hiring temps. Not only will this help to keep the cost of hiring down, but it will also give you a good feel for how big of a staff you’ll actually need as you settle into a more leveled off period of growth. Another option is to go with freelancers: they can do tedious work that can be done remotely, like data entry, while you and your permanent staff focus on the bigger picture.

4. Adaptability Is Key!

They say, you can’t grow if you don’t change. We would add to that, you can’t handle that growth if you don’t change. Even if you feel like your way of doing business has brought you to this stage of rapid growth, it would still be a mistake to keep doing things the same way you were before this rush hit. After all, that growth is changing your business, so you need to change with it!

It’s your job to make the big decisions, so step up and test out different strategies, accept new expenditures if need be, and inspire your team to innovate.

5. Look Outside of Your Business

Nobody does anything completely on their own. It’s ok to ask for help; after all, this is the first time you’re going through this! While we fully advocate for learning from your mistakes, you might not want to take the chance this time and at this critical juncture. Find a mentor who is an experienced entrepreneur, or look for a community of your peers to join. Getting advice from a wiser head or bouncing ideas off of people who have been there and done that can make all the difference.

It’s great that you’re growing so fast, and you should take pride in having brought your small business to this exciting stage. But this period of rapid growth can be full of pitfalls, so watch your step, and don’t lose your head. Be ready to make the big decisions, and we know you’ll come through this volatile period with a stronger business and a bright future.

Want to Grow? You Need an App – and an App Developer!

What is the one thing we’ve always got with us? That’s an easy answer: our smartphones. These devices have been our once-in-a-generation technological advancement, like the computer before them, the TV before that, and the radio before that. It didn’t take long for smartphones to blow away the rest of those. For example, in 2019, people actually spent more time on their phones than they did watching TV. And what are they doing on their phones? Using apps!

In the last few years, studies have shown that users spend 3.1 hours per day using mobile apps (up from just over 2 hours in 2017), but just 26 minutes browsing the web on a mobile device. App time made up nearly 20% of total media time for most people. So what does all of this mean for your business? That it might be time to build your brand, increase visibility, and boost your bottom line with an app. If you think that the benefits outweigh the costs of creating an app, then you’ll need to hire at least one app developer. Here’s how to do it!

Why an App?

Before we get into the search for an app developer, let’s take a look at why the sometimes costly decision of creating an app for your business might be the right way to go. Having a mobile app can:

Using an app will engage customers and boost sales because more people are inclined to use it.

Help you build a stronger brand – 3.5 billion people in the world have smartphones, and what business wouldn’t want to be visible to even a small fraction of that customer base? Having an easy way to connect with mobile users is a great way to increase visibility for your brand, but it’s also a way to increase the trustworthiness of your brand. Your business will be seen as more established and legitimate if you’ve got a well-designed and engaging app.

Increase customer engagement – Having an app will not only help your brand get noticed, but it will also allow your customers to fully engage with your business. They can get customer service 24/7, leave feedback and comments quickly and easily, collect loyalty points or rewards for being returning customers, and even play games that keep them coming back for more. Think about it: your business will literally always be in their pocket, and your logo will be right there on their screens. And think about this: 35% of customers return more frequently to businesses that they have interacted with through an app.
Boost sales – Building your brand, increasing visibility, offering amazing customer service – what is it all for? To increase profits. If consumers can find you easily, they will become potential customers. If they get answers quickly, they will most likely change from potential customers to paying customers. In fact, 33% of customers that use apps buy more frequently, 34% buy more, and 37% spend more compared to those who don’t. To give a real-world example, when Domino’s Pizza launched their app for mobile ordering, they saw an ecommerce rise of 28% in half-year pre-tax profits.

While creating an app for your business will most likely mean spending a good chunk of money, the benefits are clear. So if you’ve decided to go in this direction, you’ll need to hire at least one, and maybe more, app developers. So what should you be looking for, and what are the steps you should take in starting your search?

What Makes a Great App Developer?

App developers share some of the same skill sets with web developers and software developers, but they definitely also have a unique set of skills. They also don’t usually work alone: they typically work with graphic designers, product and project managers, and data scientists. They might specialize by operating system (e.g. iOs or Android), or by niche (e.g. project management apps, food delivery apps, lifestyle apps). A good app developer:

A good add developer understands the logistics of making a good app that is easy to use and enjoyable.

Has great knowledge of user interface – they need to have a good eye for color, spacing, usability, user navigation, and more. There are a lot of apps out there, so yours need to stand out, or at the very least, provide a smooth, simple, intuitive, and enjoyable experience.

Knows a variety of programming languages – this is where it gets technical. If you’re looking for an app developer, make sure they know the following programming languages: Java, C+, CSS, and HTML5. They also need a great knowledge of application programming interfaces (APIs).

Is an excellent communicator – as we already mentioned, app developers need to be able to work very effectively in a team. They need to be able to communicate very clearly, and to accept and process feedback.
Can build for more than one platform – they may not be experts in all platforms (iOS, Android, Windows Mobile) but they should have at least a working knowledge of the 2 that they are not experts in. Another tip: check to see if they know Flutter, which lets developers build apps for more than one platform at once.

How to Hire App Developers

The above are the basics of what it takes to be a great app developer. Now you need to know how to go about finding these great developers. Before you start your search, think about:

What you want to develop – before setting out to hire someone, decide what you’re looking for. Will your app be for multiple platforms or just one? Do you already have an app, even a rudimentary one, or are you starting from scratch? Do you want a developer who specializes in certain types of apps? Take the time to do your research, so you’ll know the basics, like the fact that it costs more to build an Android app than it does to build an iOS app. Look at your competitors’ apps and talk to businesses who have been through the process, so you can get a better idea of what you’re looking for.
The scope of your project – if you’re starting from scratch and want a great app in a reasonable amount of time, you might find that one app developer is not enough. You might also need to work with a quality assurance engineer or a UX/UI (user experience/user interface) designer. Again, do your research and talk to experts or those who have been through the process.

To get your search started, you’ll need to write a stand-out job posting. App developers are in high demand, and therefore often in short supply. They usually have their pick of jobs, so you’ll have to write a killer ad to get their attention. You need to:

Post your job in the right places – stick to social media, not job boards

Be transparent about salary and benefits

Make them an offer they can’t refuse – be prepared to offer something extra, whether it’s more pay than your competitors, better benefits, a chance to expand their skills, etc.
Link to a skills test – let interested developers jump in immediately and show that they can do the job – they’ll know that you’re ready to hire quickly!

Once you’ve got a pool of applicants:

Put their skills to the test – as suggested above, it’s a good idea to ask applicants to do a skills test before you decide to meet anyone. In addition to sending a good message to serious applicants, this will help you weed out the unqualified applicants and narrow down your search. When you get to the actual interview process, you’ll have more time to speak with the smaller pool that you’ve chosen.
Check out their portfolios – the great thing about experienced app developers is that their work is easy to check out! Ask them for a list of apps they have worked on, making sure to also ask how much input they had on each one and what their role was in developing it. Then download those apps, and get to work doing your research!

If you feel intimidated by even the thought of developing an app for your business, don’t worry! Hiring someone to do it for you is not so different from hiring any other employee – and you’re an expert at that! Just follow our simple tips and remember, sometimes taking your business to the next level of growth requires taking a leap on your part. You might need to lay out a little extra cash for something like an app developer, but in the end, the results could mean a big payoff.

5 Ways to Keep Your Business Growing in a Slow Economy

It’s no secret that the economy is not at its strongest right now, and that many small businesses are struggling. The approximately 30 million small firms in this country are the backbone of our economy and it’s worrying to think that we have lost at least 2% of them in the last half year alone. As a small business owner, how are you feeling about the state of your business? Are you confidently weathering the storm, or are you feeling like you’re struggling to keep your head above water? We know times are tough, and we want to see you stay afloat – and keep growing – so check out the following tips for boosting your business in a slow economy.

1. Focus on Your Existing Customers…

Isn’t having a core group of loyal customers great? They know you, they trust you…they pay you! And they’re more important to you than ever when the economy slows down, for more reasons than one:

graph of the percentage of selling to new and existing customers. — *It not only costs you more to acquire a new customer, but you have a better chance selling to an existing customer than a new one.*

They’re cost-effective: It costs 5 times more to acquire a new customer than it does to retain an existing one. In addition, the success rate of selling to an existing customer is 60-70%, while the success rate of selling to a new customer is only 5-20%.
They are already willing to buy from you: This means that you can offer them related products or services to gain additional revenue during a downturn. You might want to expand the services you offer (and give your existing customers a chance to try your new service for free!) or partner with another, complementary business. For example, a dog grooming service could consider expanding their services to include flea and tick treatment, or might consider partnering with a local vet or pet food shop. Or, a company that sells nutritional products might start offering meal planning services, or partner with a gym and get commissions on sending personal training clients their way.
They can help bring in new customers: Now is not the time to be shy about asking for referrals! And this can be a mutually beneficial situation: offer your existing customers rewards, such as discounts or a bonus item, if they refer someone who becomes a customer. Use low-cost ways to alert your existing customers about your referral program: maintain an email subscription list, send fun postcards, or even make personal phone calls.

2. …But Don’t Forget to Diversify!

Again, one of your biggest strengths in tough times is going to be your existing customers. But that doesn’t mean you shouldn’t try to diversify your customer base. Don’t put all your eggs in one basket! Remember that no single customer should account for more than 10-15% of your sales, and no small group of customers should account for more than 40-50% of your sales.

To expand your customer base, look to some of the strategies above, such as employing a referral program or expanding into new markets or partnering with other businesses. You should also step up your marketing efforts, which we will look at next.

3. Examine Your Marketing Strategy

Keeping your name out there is extremely important – and sometimes difficult – in a slow economy, so now is not the time to stop marketing your business. It may be tempting to completely cut marketing out of your budget, but that is not advisable, or even necessary. You just need to be a little more creative about how you use your marketing dollars. Some strategies to consider include:

Negotiate with advertisers – Advertisers are probably struggling along with you in tough times, so don’t be afraid to initiate negotiations with them. They might agree to give you a discount just to keep your business.

Trim your ads – If you pay for print advertising, then reduce the size of your ads – a well-worded, punchy, short ad can be just as effective, if not more so, than a long ad. Similarly, if you pay for video advertising, try to make your videos shorter, or consider posting them only to social media for the time being.
Use free marketing techniques – These days, there is no shortage of ways to market your business for free. Expanding your presence on social media can do wonders for name recognition. Look into using a viral loop strategy in which you entice existing customers into referring more and more of their network to your business, or examine the idea of a content marketing funnel, in which you create content that “funnels” potential customers towards making a purchase. Find any way you can to create a buzz around your business!

4. Stay Positive!

During tough times, it’s easy to get lost in the weeds of day-to-day operations, and lose a little of your enthusiasm. But don’t forget to take a step back and remind yourself of your business’ mission, values, strengths, and goals. Be sure to remind your employees of all of this, as well, and keep them focused on what you’re all working towards. Make sure they understand your company’s strategy and that they feel good about proactively promoting the business whenever they can. Try to foster the right attitude in your workplace, so that productivity doesn’t take a dive.

5. Reduce Costs, Improve Your Cashflow

When it comes down to it, you can’t gain new customers, satisfy existing ones, or grow your business if you don’t maintain or improve your cashflow. It’s all a big cycle: you need to pay your bills and operating expenses if you want to keep the customers coming in, and you need customers to continue paying your expenses and so on. Make sure you have a solid plan to keep your cashflow strong, so you’ll be ready if and when the economy slows down. When tough times do hit, you should find ways to reduce costs so that your cashflow doesn’t take a hit, as well. Try examining your:

Utilities – You could be able to reduce your electric and water bills by switching to renewable sources.

Internet and phone plans – Companies that provide these services are always in competition and are often willing to give you a great rate if you play them against each other.

Use of office supplies – Do you really need to print everything? Consider going as paperless as possible.
“Luxuries” – Now might be the time to cut down on, or eliminate completely, extras like expensed meals or trips.

Just because the economy isn’t growing, doesn’t mean that you can’t keep your business growing! You just need to stay on course and keep working at what you’re best at: winning and satisfying your customers, marketing yourself, sticking to your goals, and always managing your cashflow. Don’t forget to keep a positive attitude and know that you have it in you to weather the storm.

Tag: business growth

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