The Etiquette of Asking for Referrals
- Written by Intuit Small Business
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Word of mouth remains the strongest form of advertising. In a recent Experian study, 54 percent of consumers said their purchase decisions are influenced by recommendations from someone they know. So, how do you encourage your customers to make referrals?
Try these strategies:
- Take advantage of LinkedIn. Connect with customers on LinkedIn and you can see who else they’re connected to. If a customer has a contact you’d love to work with, send a polite email requesting an introduction and stating your rationale. For example, you could mention that you’d like to talk with a university PR contact because you’ve done significant marketing work for other colleges. Be polite and give your contact an easy out — chances are, he’ll say “yes.”
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Good Entrepreneurs Practice Communication Secrets
- Written by Startup Professionals
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Effective communication is an absolute requirement for successfully starting a business, but it doesn’t come naturally to many entrepreneurs. Communication is considered a social skill, and inventors and engineers, for example, are not known to be social butterflies.
Founders have to communicate their ideas and products to investors, business partners, and the rest of the team. Then, hopefully, come customers, distribution channels, and going public or merging with an attractive buy-out candidate. Communication is not just talking, but also writing, body language, and “actions speak louder than words.”
John Spence, in his book “Awesomely Simple” says that the single biggest problem he has to deal with in client companies worldwide is the lack of open, honest, robust, and courageous communication. He narrows down the problem to the following aspects of communication, and I agree: ... Read more from Startup Professionals
3 Tips to Boost Your Small Business Sales
- Written by Intuit Small Business
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Amid the economy’s stop-and-start recovery, many small businesses are struggling to reach or exceed their pre-recession sales levels. This means effective sales techniques and strategies are as important as ever. However, it can be easy to lose sight of best practices when you’re occupied with all the other aspects of running your business.
Here are three tips to boost your sales:
1. Know your customers.
Some customers require more attention, some less, but you should always know who you’re dealing with.
Customers who just go with the flow and rarely speak up may fool you into thinking that all is well when it’s not — and then, suddenly, your sales pipeline runs dry. Check in with quiet customers every few weeks via email or telephone to make sure you’re meeting their expectations and anticipating their needs. ... Read more from Intuit Small Business
Ten Tips to Prepare Your Business in Case of Emergency
- Written by Business Review Canada
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Written by: Nancy Harris, vice president and general manager at Sage Simply Accounting
Flooding, forest fires and even mudslides – like those that recently happened in eastern British Columbia – can unfortunately be a frequent occurrence in various Canadian regions leading up to and during the summer months. These situations take both an emotional and financial toll on those who live and do business in those areas. However, such events are proof of the strength of those who are able to overcome such chaos and serve as a reminder that it’s important to be as prepared as possible for adversity.
A recent study of Canadian small businesses owners conducted by Sage North America showed that Canadian businesses may not be sufficiently prepared for a crisis. While 98 per cent of respondents said they back up their financial data, 71 per cent of surveyed owners said they do not have a formal emergency or disaster preparedness plan in place. Respondents cited that they haven’t had any issues in the past that influenced the decision to develop a plan (41%), they hadn’t thought about it (33%) or they don’t think it’s important for their business as reasons for not having a plan. ... Read more from Business Review Canada
Is Your Small Business in Need of Reinvention? [INFOGRAPHIC]
- Written by Intuit Small Business
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In 1998, Steve Jobs triumphantly returned to the company he’d co-founded two decades earlier. At the time, Apple was at a crossroads: Success was anything but certain.
“The cure for Apple is not cost-cutting,” Jobs said at the time. “The cure for Apple is to innovate its way out of its current predicament.”
In 2012, countless small businesses are looking to exit their current predicaments. Amid increased competition and uncertain economic conditions, these entrepreneurs — like Jobs — aim to reinvent their way to growth and profits.
Innovation Nation
Although many small-business owners have recovered from the psychological impact of the economic implosion that began in 2008, self-esteem still isn’t a commodity that’s easy to find. In fact, the latest data from the National Federation of Independent Business shows that small-business confidence today remains at or below recessionary levels. ... Read more from Intuit Small Business