Improving Employee Recognition Efforts – Overcoming The Challenges

by Steve Sims, CDO of Badgeville 

A recent Gartner report clearly illustrated the need for recognition of quality performance for employees. The report states, “Recognizing a job well done is a proven method of increasing employee morale and engagement. This is especially important in organizations with an increasing proportion of Generation Xers and “millennials”… and in highly people-centric businesses and industries where working as part of a team is needed to meet organization goals.”

Despite the benefits of recognition initiatives, there remain several challenges with the current recognition models:

1. Short term traction. People simply stop engaging shortly after the program is implemented.
2. Narrow focus on a particular role or use case.
3. Inability to address cheating or “gaming” of the system, which undermines the entire philosophy behind the program.
4. Encouragement of wrong behaviors such as too much focus on visibility attainment versus core job requirements due to poorly-designed program relies heavily on tangible rewards.

To combat these challenges, employees must be motivated intrinsically, not only through physical, extrinsic rewards that may have short term or minimal impact. To do this, companies should embrace the following capabilities to help them overcome the challenges:

Building intrinsic motivators.

To achieve long-term employee engagement, you should use intrinsic motivators that validate the employee’s story of personal growth and purpose. Tools such as validation and reputation can be more effective than purely external motivators such as monetary rewards, and also rewards based on activity and user details (such as how much was closed per opportunity, user role, location, and level of expertise). Long-term engagement is generally the result of a well-designed plan which is then monitored and upgraded over time. As a result, companies create rewards that are personalized and fresh, resulting in a much stickier user experience. To ensure your recognition program lasts, you should leverage any available big data analytics to regulate program performance.

Make recognition relevant to individual staff people.

Successful recognition programs will be relevant for any number of people who are all motivated by different things and have different objectives. Unlike narrowly-focused recognition programs, it’s important to select a solution that addresses the needs of people that are in any role. By tracking specific behaviors and personalizing rewards by role or user, an advanced solution can motivate multiple audiences, targeting the needs of each while covering the needs of all. Some solutions also can accelerate implementations by offering connections to services such as Jive, Salesforce, Sharepoint and Yammer.

Avoid and discourage “Gaming” of the system.

To address cheating or “gaming” the system, you can (and should) take several steps to ensure every person is on an even playing field. Recognition plans can become a source of frustration and discontent if certain staff members are allowed to take advantage of the solution unfairly. What can you do to prevent cheating? You can limit the amount of times a player can earn an award or set how much time should elapse before they can earn points for performing it again. Ideally, you can create and change these anti-gaming mechanics and other aspects of the solution without the need for coding. Some solutions also offer libraries of anti-gaming best practices content that can help you tailor your program for optimal fairness.

Use rules and tracking to encourage desired behaviors.

Modern gamification solutions will pair sophisticated engagement mechanics coupled with a powerful rules engine. For example, employees could be recognized as top performers based on their activity level, their contributions to the bottom line, and by the levels of recognition coming from peers. You should differentiate expertise by segment, for example all of the employees within a department. And you should be able to view which system each segment is using, for example a community expert will show the number of points and levels they have within a specific knowledge track. Ideally a user’s reputation can be visualized anywhere their username is visible, so they enjoy their accomplishments, or see they need adjust their habits to catch up with peers. At the core of digital motivation is universal reputation and achievement and recognition. Through universal reputation visualizations, employees are recognized for their achievements across the entire enterprise.

Some measurements that are common within these advanced recognition programs include the number of messages or posts, retention rates, activities per user, active users, classes taken, and certification completion rate (e.g. for compliance).

Organizations that want to overcome the challenges of employee recognition should choose a full-featured gamified platform that creates relevant goals for employees and can grade them on several complex actions.

 

CDO of Badgeville Steve Sims is a well-known gamification expert with broad experience in game design, development and production across all major platforms – web, mobile, console and PC. He started his career at Electronics Arts and EA Online where he was an Executive Producer responsible for Madden NFL Football – the #1 selling sports video game franchise in North America. He also led EA’s earliest forays into the online market, including Fantasy Sports and Casual Games.

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Business Funds: How To Make Sure Your Money Is Safe At All Times

With regards to the business industry, money makes the world go around. It is the lifeblood that ensures success and prevents failure. So, when it comes to your business’ cash, you need to know it is safe at all times. Problems can occur that will put the security of your money at risk. When and if they do happen, you need a backup plan or several backup plans.

Here are the ways that you can make sure you money is safe no matter the situation:

#1: Don’t Deal With Dodgy Clients.

Every time you make a transaction with someone you don’t trust, you are putting your money at risk. Okay, the might not be able to access your accounts and steal money directly from your bank, but they can refuse payment.

And, there are people out there in the business sector that will try and take advantage wherever possible. Obviously, the more you work and don’t get paid, the more debt you will incur. Any time that a client doesn’t pay up, never hesitate. Refuse to provide them with your services unless they pay you the money they owe.

#2: Split Bank Accounts.

Any business with more than £85,000 should consider splitting the amount of bank accounts they use. You are probably asking why, and here’s your answer. In the United Kingdom, one bank will only pay out £85,000 even if they lose your money, and it isn’t your fault. That means that anything more than £85,000 is at risk. By splitting bank accounts, you can secure a lot more of your business’ finance. Who knows, you might even be able to secure every single penny!

#3: Buy Insurance.

For all you lucky devils that cannot secure all of their money with the above method, you need something more substantial. The only method that will secure a lot of cash is insurance. When you take out insurance, you can secure all of your business’ funds and not have to worry about it even if there is a disaster. As long as you adhere to the rules of the agreement and pay the policy, your money will be as safe as houses.

#4: Use Affiliates.

There are professionals that will help you take care of your money. They are usually known as affiliates because they are partners who offer secure services and advice. Baydonhill is a prime example and one you may want to consider for the future. They offer online account services and international payment services, which covers every base. When you are in partnership with a team of professionals, you are a lot more secure.

#5: Pay With PayPal.

Paying clients the money you owe them over the Internet is not always a safe way of making a transaction. There are hackers who can intercept the transaction and steal sensitive data and a lot of money. Thankfully, PayPal is a great solution because it is incredibly secure.

Your money counts, so it is vital that you always keep it safe.

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7 Easy Ways To Find Quality Tenants

Finding the right tenants for your property is essential to your success as a property owner.

Protect your investment and search out the best candidates for your tenancy with these simple steps:

1. Avoid Renting to Family.

It might seem like a good idea to rent to good ol’ Uncle Ned, but renting out to family and friends can backfire in the worst of ways. Family and friends may expect a leniency that you are unwilling or unable to give in terms of late payment or other non-negotiables.

Owning a rental property is like running a business, and mixing relationships with money is never a fun road to travel.

2. Always Screen Your Candidates.

Whether you’re planning on renting to younger adults or hoping to rent your home to an established family, you really never know what you’re going to get from a tenant without the proper vetting process. Use tenant screening at MySmartMove.com to ensure your tenants are who they say they are and get all the necessary qualifications in one fell swoop. These services will let you know whether they’ve ever been convicted of a crime, indicate whether or not they’ve been evicted before, and give you access to their credit score. Do this process for every candidate, and you’ll reap the rewards when you find the perfect fit.

3. Use a Good Advertising Site.

Online advertising in today’s day and age is your best bet to find the right selection of tenant candidates. You might be tempted to use free posting websites like Craigslist, but scammers have increasingly been reported as changing contact information, meeting with tenants, and taking their “deposit” money. Stick with reputable sites that require a small fee for your listing. The access these sites provide to a cache of rental hunters is well worth the investment. Websites like hotpads.com, padmapper.com, and apartments.com are all popular listing websites to use. If you’d like to expand your search beyond the Internet, distribute fliers, and place a sign in the front yard — sometimes the old way is the best way.

4. Clean Up Your Place.

Quality tenants won’t want to rent from you if the property isn’t in pristine condition when they go for a drive-by to check it out. Even if you’re not ready to show the inside, if you’re advertising in any way, shape, or form, then the outside of your property better look as picture perfect as possible. Make sure you perform any necessary repairs, give the home a fresh coat of paint, and landscape the yard to the best of your ability (or to the ability of your wallet).

5. Use the References Provided.

Most rental applications require entries of references, whether those be from former landlords or current employers. While it might see inconvenient and time-consuming to give all of these references a call, it’s worth your time and effort. First impressions aren’t always correct, and getting a stamp of approval from those who have already experienced the tenant candidate’s behavior in the past are going to be your best bet for an accurate estimate of your future landlord/tenant relationship.

6. Don’t Fall for More Money.

While it might seem like a no brainer to accept an offer over your asking price, don’t skimp on the vetting process simply because a potential renter is dangling more money over your head. That’s a surefire way to find yourself with a horror tenant story. Take the time to check their references, look into their past, and cement your lease agreement. Money can be a powerful temptress, but sticking to your standards throughout the process will see you happier with the outcome.

7. Go Through the Lease Agreement.

Hopefully you’ve spent a good chunk of time crafting an airtight lease agreement outlining all of your expectations and regulations. From pet to personal conduct policies, damages deposits to eviction regulations, make sure any and every specification you have for those living in your property is covered. Sit down with your chosen tenant candidate during the signing of the lease, and go over every facet in full. This gives you a further wall of protection, and your tenant will understand that you are rigid with your regulations.

If you’ve decided to try your hand at landlord-ing, one of the biggest mistakes you can make is not finding the right tenants. Use these guidelines and make sure you find the appropriate fit for your investment.

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Getting Ready For Your Yearly Performance Appraisal

Unless you’re a business owner, you will very likely have to pass a performance review no matter the type of career and sector, private or public. Nowadays, even GPs  have to get revalidated regularly through a doctors appraisal process just like most workers in the public sector. This is often a rigorous process, which repeatedly led to criticism over the years.

However you shouldn’t worry excessively: assessing a worker’s performance is one of the most common practices in almost every organisation, and it’s also a necessary step to ensure progression.

While appraisals might differ one industry from the other, you can still actively prepare for them by following a few steps:

1. Do your homework.

The worst possible thing to do would be to try and wing a performance appraisal. You should be warned a fair amount of time in advance of the date of the meeting and get the chance to prepare adequately, aiming to be as precise as possible on D-Day. Most often, you will be asked to provide your employer with a self-assessment form that will typically contain the following elements:

• a general review on this year’s performance
• your main successes and difficulties
• skills and personal development
• areas that can be improved upon
• any potential training
• a summary of your short and long-term professional goals.

This form allows you and your employer to find out which areas need to be developed to help you achieve your goals so don’t hesitate to spend as much time as your need on it.

2. Positive attitude.

It might sound obvious but during the meeting, you should try and remain as positive and diplomatic as possible. Remain open to criticism and be ready to analyse your performance sincerely. If you manage to express yourself clearly and calmly, you will have much better chances to be heard and understood.

3. Problems equals solutions.

Don’t just blame others or a lack of means at a particular time if you have to find reasons for a task that didn’t go as planned. If you can take responsibility and offer alternative paths and solutions to the problems, you will be regarded in a much more positive manner. If you can show that you’re able to find solutions to any problem you might encounter, you will also be more likely to get promoted to a managerial position.

4. Following-up.

In most companies with well-structured appraisal processes, employers have to set up a follow-up meeting to provide guidance and make sure all the measures that were agreed upon are met during the chosen time scale. Depending on your industry and company, there might be a few extra steps to take before reaching your goal, but make sure to get involved in the follow-up process: if you’ve signed up for a few more responsibilities throughout the year, you will have to be be able to demonstrate your improvements during all follow-up and intermediary meetings.

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Tips On Negotiating A Licensing Agreement For Your Patent

by Andrew Armstrong

Once you have your product patented, you may be disconcerted at the thought of manufacturing it yourself. For many entrepreneurs and inventors, mass producing and distributing products simply doesn’t play to their strengths.

Consider Licensing.

Most inventers and many entrepreneurs are not prepared for the ongoing struggles with getting a product to market. These involve finding funding and getting up to speed quickly on the highly complex manufacturing and distribution processes. They also aren’t prepared for the exploitation that is common and how to protect themselves.

The alternative is to license a newly patented product. This is a common step but little understood by most new to the business world. When an inventor is told that he can make money by licensing their “brain child,” the first reaction is often fear that the ideas will be stolen. Entrepreneurs often worry that the lawyers are going to get all the money.

It’s probable that your skills lie with innovation and invention, not with the more tedious process of producing, marketing and distributing it. Letting an experienced businessperson introduce your product to the marketplace often results in a far higher return on your investment of time and energy. Going it alone often results in losing everything you’ve put your heart and money into.

Once you accept the idea of licensing your product, you need to negotiate an agreement, which is complicated and often a war of nerves. To get the best deal, here are four tips to help you and your licensee hash out the fairest terms possible.

#1. Start from a strong position.

This means getting your idea protected with as many legal constraints as possible, which might include filing an application for a patent, copyright and trademark. You need further protections if someone else will create additional processes that involve your product.

You need to be protected on all levels in order to negotiate from a position of strength. Safeguarding intellectual property is complicated and it requires the work of a professional attorney who is familiar with the process.

#2. Know your objectives.

What do you want to accomplish by licensing your product? The clearer you are about this, the easier it will be to protect yourself and negotiate a satisfactory agreement.

Consider these questions:

• Do you want no more to do with the product, simply collect money?
• Do you want to keep some say in the marketing and the production?

Sort out how involved you want to be after your product is licensed. Then make sure your agreement reflects your needs.

#3. Protect yourself with professionals.

Make sure you put together a team of experienced people who understand the entire licensing process first hand. Typically these subject matter experts might include:

• Business development executive: This is often a CEO or a technology transfer professional from a university who puts the deal together.
• Scientific/Technical expert: This person provides a range of expertise that makes him the go-to person for due diligence research.
• Decision maker: This is the person you trust to commit your team to the deal.
• Licensing attorney: He is both a participant in the negotiations and the person who draws up the legal paperwork.

Every role must be covered, but there can doubling up. For example, a single individual might qualify as both the executive and the scientific or technical expert. Just be sure that each role is thoroughly and competently handled.

#4. Figure out what the licensee will bring to the table.

Most likely you want to license your product because you don’t have the resources and the expertise to bring it to market yourself. That means you want to choose a licensee who is strong where you are weak.

In order to choose the right person to license it, you need to conduct due diligence. Know what their assets are, both in knowledge and resources, their demonstrable strengths in the marketplace and their capabilities based on past performance. Make sure they have what you are missing and will add value to your patent.

An often-cited article from Bioentrepreneur suggests that one should draft a thorough inventory of their position and that of their prospective licensee. Understand your proprietary position, as well as your knowledge of marketing, sales, technical expertise and customer service strengths. Take the same inventory of your licensee. All of this will affect the licensing fee and royalties you negotiate.

Most negotiations include a term sheet listing major points of discussion that both sides refer to before starting the talks. This might include:

• Preliminary ideas about fees and royalties
• Territories in the licensing agreement
• An exact description of the product to be licensed
• Technical data and training needed for development, manufacturing and distribution
• What type of support for sales and service will be set up
• How exclusive the licensing is
• How long the license will last

Successful negotiations depend on being prepared. Do your research ahead of time, especially when it comes to setting up your team. Be clear with yourself how involved you want to be with your product after the license is granted. Choose your licensee carefully and critically. Follow these tips and you will end up with money in hand for your patented product.

 

Andrew Armstrong is an independent business and market strategies consultant in the San Francisco Bay Area working primarily with technology and start-up phase clients. He founded and ran his own digital marketing agency, KickStart Search, for 6 years prior to being acquired by Los Angeles-based Wpromote in April of 2015. Follow him on Twitter @kickstartseach.

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What Is Leadership?

by John Vrionis, partner at Lightspeed Venture Partners

As part of the Lightspeed Venture Partner Summer Fellowship program, I ask guest speakers to come in each week and talk to the Fellows about key topics related to building a successful startup.

This past year I asked Don Faul to come and speak about Leadership and what he has learned in his career as a Special Forces marine, and senior executive at Google, Facebook, Pinterest and Athos. Don is one of the most highly respected business executives in Silicon Valley and deservedly so. He has demonstrated repeatedly an ability to inspire, motivate and lead others in high stress, time sensitive situations. He is also one of the most humble and trustworthy people I have ever met. I would follow him in a heartbeat.

The following seeks to capture the essence of his conversation with this year’s Fellows:

What is Leadership?

Leadership is about how to lead and inspire people, how to bring together a group of incredibly talented individuals to achieve great things. Faul pointed to John Wooden, former head coach for the UCLA basketball team, as an example of a highly successful leader. “He was able to bring together a group of people, understand their unique talents, and build a team that capitalized on those talents for collective success.”

The type of leadership technology companies need changes as they grow. The first phase, before they get to product market fit, is all about technology leadership; startups focus on their technical vision, building their products or services, getting customer feedback. But as a company starts to see growth and needs to hire sales, marketing, support and other functions, scaling to hundreds or thousands of people, technology vision needs to be augmented with leaders who can build high-functioning teams. These leaders keep everyone on the same page, keep them motivated, let them know what success means, and make sure the entire company has a clear vision of success.

Leadership is about building a world class team, bringing out the individual and collective capabilities of each team member, articulating a common vision and common objectives, and inspiring people to do their best possible work.

Becoming a Great Leader.

Faul talked about the power of servant leadership. Servant leaders recognize that leadership is not about other people working to make the leader successful…it’s about understanding what their team needs to be successful and putting the needs of their team members first. Often it means leaders need to roll up their sleeves and tackle work that their teams do every single day. Recognizing that their role often lies in removing obstacles that their team members first, servant leaders must invest the time with their people to get to know them, understand what motivates them and what challenges they face. These may seem like little things, but they can engender great trust and respect.

Strong leaders try to achieve something great and incredibly challenging, and they inspire others. “As a leader, you’re a storyteller,” Faul said. “Leaders paint a picture of the future that taps into employees’ intrinsic motivation and helps them understand how their work ties back to the company’s vision. You want to make a lasting impact, and you should hire people who aspire to that.”

Humility is also important to leadership as it builds trust and helps create an environment where each member of the team feels empowered to challenge ideas in open and honest debate. Managers must hire people to get the startup where it wants to go, and they need to create an environment that allows employees to challenge them with different perspectives and opinions and to get all the best ideas, the best data, and the best information on the table. Leaders must work hard to create this dialog, to create an environment where each member of their team feels comfortable challenging their ideas when they think they’re wrong.

Being humble may be difficult, but Faul noted, “You can actually build trust and credibility by being open and transparent about your mistakes, because guess what, your people know when you’ve screwed up.” And as Colin Powell said, “If people are no longer coming to you telling you about problems in your organization, you have failed as a leader.”

Growing the Organization.

One of the hardest things a CEO must do is scale his or her organization while preserving its culture and making sure it remains a place where people love to come to work every day. To maintain a sense of trust and loyalty as a company grows, leaders need to focus on finding, training, and developing other great leaders who embrace the organization’s principles and values. “Early on, you make almost every decision,” said Faul. “At the end of the day, as your company scales, you’ll make very few, which means that the people you hire, specifically the leaders, are absolutely mission critical. Hire people who share the same principles and values, and make sure they have the support they need to be successful.”

As companies scale, they can use employee engagement tools to track how people feel about their work environment and their leaders. A five-minute monthly survey, for example, might uncover that a team in Dublin feels disconnected, or that employees do not feel empowered to make decisions. Managers can set aside time to communicate with their teams, in person or via videoconference, not only to remediate such issues but also to keep them up to date and give them a sense of what is going on.

People who know what is happening in the organization, and have the courage to tell their managers when things are going wrong, are an invaluable asset. Managers must use this information to understand how they can more effectively lead their organization, where changes can help their teams execute more effectively. Listening and responding to feedback will have a huge impact in building trust; it reinforces to your people that you listen, care about their concerns, and are willing to change.

Inevitably, founders must someday hire senior leaders who have years more experience than they do. Getting the right fit can be difficult; it is important to figure out what you really want and be transparent about it, because you are partnering with them in a sense. Most important are alignment in your vision, your principles and the type of company you want to build. You can’t spend too much time with these potential hires. Get to know how they think, what they care about and who they are as people. This time spent ahead of time, ensuring the fit is right, is essential.

Dealing with Uncertainty.

Startups are rife with uncertainty. Managers need to be honest about that with their teams while leading them through it; employees find it disconcerting when managers do not acknowledge real challenges. Managers also need to create structure; here is our vision, here is our strategy for getting there, here is what we are working for as a team, and we will report back on what we have learned and accomplished as we work towards our goal. Essentially, managers need to create structure around uncertainty and create a culture of problem solving. “Probably the single most important thing you need to establish within your organization is ‘how can we learn as fast as we can?'” said Faul.

Communicating Transparently.

Faul also stressed the importance of explicitly setting expectations of direct, honest, constructive and respectful communications. “Few things are as poisonous to an organization as when people feel they can talk behind each other’s backs,” he said. “We are in this journey together, and we owe it to each other to be direct.”

Transparent communication creates a powerful bond between managers and employees; without transparency, corrosive doubts that affect morale can begin to creep in.

Creating a Great Team.

As startups grow, they need to scale recruiting. It is easy to use a cookie-cutter job description; we need software engineers, here’s what a great software engineer looks like. This approach helps startups scale with consistency; the downside is that teams may become too consistent.

A great team is a reflection of different perspectives and backgrounds, and the perfect hire for a team depends upon the team’s existing nature. Before managers start hiring, they should think about what they really need. What does the existing team look like? What technical skills are needed? What kind of experience are we looking for? What are the cultural things we need? A team that is non-confrontational or passive-aggressive may benefit from having people who tell it like it is. Another team may benefit by hiring someone who brings a fresh perspective to the task.

“Managing and leading teams is a huge challenge and a huge learning experience,” said Faul. But creating a great leadership team is crucial to a startup’s success.

 

John Vrionis (@jvrionis) is a partner at Lightspeed Venture Partners who focuses primarily on early stage enterprise and consumer technology investments. In addition, John is the founder of Lightspeed’s Summer Fellowship Program. John holds an MBA from Stanford University Graduate School of Business, an MS in Computer Science from the University of Chicago and a BA from Harvard University.

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5 Tips For Gen Ys Managing Older Employees

By Nicole Laurrari, President, The EGC Group

One of the biggest challenges facing young leaders today is managing members of their teams who are literally old enough to be their parents. The age difference becomes a gauntlet that Gen Y managers aren’t comfortable taking on and instead they tend to handle the situating in a limited number of ways.

From what I’ve seen of the youthful managers I’ve worked with in the NY ad agency scene, they generally fall into two groups. The first group is a bit intimidated at the prospect of ordering a veteran worker around, and so tends to either avoid the confrontation involved with criticizing that employee’s weak performance or excludes that worker from the “mission critical” stuff. The second group marginalizes the older workers, generally sees them as a roadblock towards getting things done, and waits for the opportunity to downsize them and replace with someone younger. Both management techniques are closed minded and sophmorish.

Here are some strategies I’ve learned in my experience of managing more seasoned workplace veterans which have allowed me to get the most out of abilities and talents.

Accept and Embrace the Age Difference.

Gen Y’s may have the edge when it comes to being tech savvy and up on the latest business trends, but Boomers can bring the value of experience and perspective, through multiple market conditions. For instance, Boomers have experience in a non-digital world and have basic communication skills that Millennials may be lacking, while Millennials have the web on their side. By embracing each other’s differences and learning from each other, you can actually create the perfect work balance.

Focus on Results not the Methodology.

It’s no secret that each generation approaches work differently. As managers, we sometimes focus too much on process, and become critical when someone tackles problem solving a different way than we would. It’s important that older employees are given a chance to deliver results and are put in charge of projects. Although their methods may be different, they can bring viable solutions to the table that other members of the team may not have thought of. Micro-managing these seasoned employees may slow down the process and halt creativity. Pair them with younger employees and watch the magic happen. They are likely to deliver significant results in a timely fashion.

Create an Age-Blind, Level Playing Field.

Respect each person’s contributions, from entry-level to management. Having members from different generations means more viewpoints and creativity – which gives your business an advantage –so use it. You can never over-communicate your position that everyone’s opinion and ideas count. And foster a cross-generation sentiment that no idea is a bad one and let the ideas flow. It’s important that you and your team respect and consider all ideas and together come to a successful conclusion.

Earn Their Respect to Reap Dividends.

When it comes to your more experienced team members, it’s important that they respect you and trust the decisions you make for the company. They will respect you for doing your work and doing it well. Don’t set out to “prove yourself” – it’s unnecessary as you earned your role. Keep in mind that you have to give respect to earn respect. Make sure that you remain approachable and open to your team’s ideas but ultimately you make the final decision.  They don’t necessarily have to love you, but it’s important they respect the way you conduct business.

Assert Your Authority Fairly.

As a younger boss, it may be difficult to confront older employees which stems from a traditional values system that stressed a unquestioning respect of your elders.  But in the business world, you need to be the boss and address performance issues in staff – young or old.  It’s important not to make special allowances for older employees because you feel uncomfortable confronting them. As a leader, it’s important to tackle issues head on in an academic and respectful way.

 

As President of NY digital marketing agency, The EGC Group, Nicole Larrauri spearheads the business’s marketing activities and strategic direction. She is a featured contributor to Agency Post, was named a “40 Under 40” honoree in the Long Island Business News (LIBN), and was listed among the “Five People to Watch in Advertising” by Newsday and LIBN.

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Smaller-Sized Service Businesses: What They Bring To the Table For Big Brands

By Lindsey Groepper, president of BLASTmedia

Smaller to mid-sized service businesses are unmatched when it comes to agility and work ethic, and there is a growing trend of larger companies choosing smaller shops (marketing agencies, rep groups, financial firms, etc.) over their larger counterparts. While large businesses are still booming, the need for small to mid-size businesses that fit niche roles, is growing.

At BLASTmedia, we’re a mid-size PR agency that’s been fortunate to work with some of the nation’s most recognizable brands – and it took persistence and knowing how to get a seat at the table in the first place. So how exactly do smaller businesses garner attention from larger brands? How do they retain such large companies? In essence, what is it about smaller businesses that makes everyone want a piece of one?

What can smaller businesses offer?

Passion for their brand. Typically, there are three or four dedicated employees who are living, breathing and working on an account. Each person on the account – from the President to the account rep- plays a role and is truly involved in the relationship. Smaller businesses can become a great partner, not just a vendor.

A high level of communication. As invested partners who know they must deliver each month, smaller companies are constantly pushing their customers/clients to provide feedback. Frequent touch points are important and large brands typically find they have easy access to the executive team for high-level strategy discussions.

How do smaller businesses get in front of larger brands in the first place?

There are a number of different ways large companies take notice of a smaller business, but it’s predominately relationship-driven. The seven degrees of separation applies in business as it does in personal life, so creating, maintaining and leveraging relationships is key when your businesses is not widely recognized by name. By maintaining and fostering relationships with past customers and employees as their roles change, it’s likely that you will be able to work together again, or that they are willing to make an introduction on your behalf.

Okay, so the business is working with a large, big-name company. What are some tips for retaining that relationship?      

Be a chameleon and consistently show results. Even the best laid plans tend to fall apart. Smaller businesses must have employees willing to change on a dime, with the ability to take on another strategy, or to really dive in and figure out why something isn’t working.

Be transparent and communicate with the client. Smaller businesses should be OK saying something didn’t work, and be prepared to show their clients and/or customers a new strategy for success. It’s crucial that a small business conveys its willingness to be a partner who will be there through the good, bad and ugly.

Small is mighty. Passion and a high level of communication are just a few things that smaller businesses bring to the table. A small or mid-size business can offer enthusiasm and dedication for a bigger brand and that can sometimes make a smaller business more powerful.

Businesses need to be very realistic in what they can and can’t do with large companies. What we have found is that you come in offering something very specific in a very defined role, and if you do a good job, that can lead to more in the relationship.

 

As president of BLASTmedia, a national PR and content marketing agency, Lindsey Groepper is responsible for new business development and helping oversee the strategic direction of the agency.

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Emoji As Oxford’s “Word” Of The Year? 4 Business Takeaways.

by Fabiola Stein, Sage’s Global Head of Marketing for Sage One

Last week, Oxford Dictionaries named their annual “Word of the Year.” While this announcement tends to create some noise on social media every year, this year’s word is even more buzzworthy because it’s not actually a word — it’s a pictograph. That’s right, an emoji — specifically, the “face with tears of joy emoji”. The reveal resulted in many very real tears of joy, laughter, and eventually confusion after folks realized it wasn’t a joke.

What does this mean for businesses who are constantly trying to stay up-to-date with new ways to communicate with their target audience? Should they throw out the dictionary and try to get their message across in a stream of emojis? Not exactly, but they can revisit the ways they are currently communicating with customers, and reassess how their messages come across. Below are four messaging takeaways businesses can glean from the new “word” of the year.

1. Be relatable.

In today’s competitive business landscape, consumers looking for a particular product or service have multiple options and access to product reviews that might sway their purchase decision. With so many choices out there, brands need to stand out and make an impact, and what better way to achieve flair than by being a brand customers can relate to and support.

Relating to customers and building loyalty can be as simple as speaking their language. Because, let’s be honest — no one enjoys feeling sold to, and the language you use when speaking to a friend is often different than how you might speak to a customer. Changing up your messaging is a way to express how your brand values a customer’s relationship rather than their money. In some cases, that language can look like a GIF, meme, hashtag, or — you got it — even an emoji.

2. Keep it simple.

Research has shown us that the average number of brands or advertisements a person sees per day is over 5,000! That’s a lot — in fact, more than a lot. With so much brand clutter out there, businesses need to keep messaging simple, short, and to the point. This goes across the board of external messaging from marketing, sales and social, all the way to PR. The tears of joy emoji uses one image to display a whole range of emotions. It doesn’t get more straight the point than that. Businesses who use too many words to get their message across struggle to make an impression. It’s not easy to convey every message with an emoji, but if it can be done in one word or image, go for it.

3. Have a little fun!

Life’s too short for boring, “corporate” customer transactions and stale engagement. Throw out the stiff, cold e-newsletters and have a little fun with photos, videos, and fun phrases. If a business doesn’t have the resources to create authentic video or graphic content, the Internet is crawling with usable content. Which leads us to…

4. Maintain professionalism.

With the well-respected Oxford Dictionaries choosing an image for their “word” of the year, it can leave some businesses wondering how to walk the fine line between casual messaging and professionalism. Companies have been facing this issue for years as they assess how to position their social media pages. But while messaging may be getting less “sales-y” or “corporate” and more casual, it’s imperative for businesses to not lose sight of professionalism. They must ensure messaging is still on brand and in line with their product and service. Add a little flair, simplicity, and relatability into your message, but don’t get too caught up in being trendy and lose sight of your brand.

Adjusting messaging to make a lasting impression may mean a shift in brand guidelines and focus — and maybe a few tears of joy. However, through messaging that is relatable, simple, fun and professional, businesses can continue to drive ahead towards growth, success, and exceptional customer experiences.

 

Fabiola Stein is Sage’s Global Head of Marketing for Sage One, a cloud accounting and invoicing app for small businesses. Based at Sage in England, she handles the global digital marketing requirements for Sage business units in 14 countries. As a key player in marketing the Sage One brand, her dynamic, creative, and innovative initiatives have resulted in sustainable, profitable growth for the business. While Stein is a marketing strategist, innovator, and tactical leader from a global perspective, she has a strong passion for helping small businesses succeed.

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How To Keep Costs Low For A Startup Business

Keeping costs low is important for any business, no matter how large or small. However, for startup companies, the need to keep costs down is even greater, especially if your business is not yet turning over a profit. Increasing costs spiraling out of control have become the death of many a small business, and if like most new business owners you want to prevent your startup from succumbing to this fate, you’ll need to work hard on keeping your costs to a minimum.

Thankfully, there are a number of great ways to do this. We’ve put together some great tips for keeping your costs as low as possible:

Energy Costs.

Energy is an essential cost for any business, even if you’re working from home. If your business is based in an office or shop building, you will need to consider the costs of heating and cooling the building, as well as lighting it and working any other electrical appliances. Energy costs can take up a large chunk of your monthly bills, which is why it’s important to have some good energy saving strategies in place from the minute you begin. Simple things such as making sure that windows and doors are properly sealed so that hot and cold air does not escape, closing doors behind you and switching lights off in rooms that aren’t in use can make a massive difference. Check out the best business energy rates here.

Employees.

If you want to expand your business, you’re likely going to have to also expand your staff base. However, depending on the nature of your business, this doesn’t always mean that you’ll need to employ staff on an hourly or salaried basis. There are a lot of freelancers working in different industries, who you can pay simply on a job by job basis in order to save money. Hiring telecommute and work from home staff can also save you a lot when it comes to employee costs, as you won’t usually need to provide them with any equipment to do the job, and it saves on energy costs.

Funding and Investment.

Many startup companies take on some kind of funding in order to give them the financial backing that they need to get ahead. However, if you are looking for a business loan or other kind of funding to get your business off the ground, you’ll need to take into serious consideration the monthly repayment costs. If possible, try to find an investor or lender who will allow you to begin making repayments after your business has started turning over a profit – this way, you’ll have less costs to worry about when you’re trying to establish your business.

You should also be careful when considering buying equipment, paying marketing costs, and setting up a website for your business. A bit of shopping around is usually all that it takes to make sure that you’re getting the best price, and the time spent doing so will definitely pay off in the long run.

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How To Find A Great Keynote Speaker For Your Event

By Sarah Lang, Ticketleap

Events are a valuable opportunity for businesses to expand awareness of their brand, position themselves in the market, and cultivate community around their product. However, it often feels like not a week goes by without an industry event of some sort. There is a lot of noise out there, and the fact is that today’s professional has a myriad of options for picking up tips, learning best practices, and networking in ways that are free and do not detract from their workday (i.e. online eBooks, happy hours).

As a result, attracting attendees can be a challenge. The key to making your event stand out is a great keynote speaker. A speaker with compelling expertise and experiences to share, who will deliver a presentation that can’t be found elsewhere, is the single-greatest draw to an event.

Here are five tips for finding a great keynote speaker.

1. Don’t book speakers solely on name recognition.

The most interesting speakers usually end up being those that people are not familiar with. These “hidden gems” can offer a unique perspective, and one that has not been heard before. By booking a speaker who is a little more off-the-radar, but has interesting things to say, you can surprise-and-delight your audience. They will feel the thrill of discovering someone or something new, and of being among the first exposed to a new idea or way of thinking. Plus, speakers with major name recognition tend to be exorbitantly expensive.

2. Think about how many conferences and events your audience attends.

Is the keynote speaker you have in mind a professional speaker? Do they give the same talk on a pretty regular basis? There’s nothing worse than hearing the exact same talk more than once. If your keynote speaker is well known in your industry and your audience is mostly made up of people that regularly attend events, you might want to reconsider. As mentioned above, the promise of something new and exciting is powerful way to get people in the door.

3. ALWAYS vet your speakers.

As the event planner, you are accountable for every part of your event. If the keynote sucks, it’s on you, not the speaker. Don’t just assume someone is a good speaker because of their internet presence, name, or even experience. Before committing a speaker to the keynote spot, go for coffee, hop on a call and/or watch previous videos of them speaking. Do your due diligence.

4. Don’t drive a hard bargain on speaker fees.

You want your keynote to be motivated and excited to speak at your event. Nothing kills excitement more than haggling. Too much hard bargaining can even cause resentment, and you want your speaker to feel valued.

The only exception to this is if the speaker is trying to sell copies of their book. They might be willing to waive fees if you buy a certain number of books.  If you aren’t interested in buying a copy of their book for each attendee, ask yourself if you are really interested in hearing them talk.

5. Be flexible and accommodating.

As an event planner, your goal is for the speaker to give their best possible performance. This means giving them a fair amount of control over how they’d like their talk to go. This might mean they do not want to adhere to a specific format or presentation template, and that’s OK. Certainly, event organizers want to be apprised of what to expect and make sure the content is relevant to the audience, but resist the urge to micromanage or impose restrictions. You should only select speakers you trust, and this means investing them with confidence and letting them be themselves.

Finding great keynote speakers can require thinking outside-of-the-box and taking full advantage of your professional network. This can take a lot of work, but ultimately it will be worth it when every seat is filled and the event attracts rave reviews.

 

Sarah Lang works in marketing for Ticketleap, an online event and ticketing platform that helps brands build better relationships with people the old fashioned way, face-to-face.

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Website Building Checklist: Supporting Your Brand

By JR Reichl, Senior Director, Marketing Communications at Hostway Services, Inc.

Right now, there are more than 858 million registered websites for users to visit, according to Tech Made Easy. This means you have a lot of competition to deal with when creating and building out your brand’s online presence.

A website is an essential piece of the business puzzle, helping a brand connect with its customers and offer potential for the organization.

However, building a website that supports its brand is not as easy as one might think. Some important components and strategies are often overlooked when designers and decision-makers begin their website-building journey.

This checklist will help ensure that nothing falls through the cracks:

1. Overall purpose and driving goals.

Before thinking about theme or design, determine the overall purpose and goals of the website. Small Business Trends contributor Amanda Stillwagon noted that these include defining the type of site and what it will be used for – will the platform be used for e-commerce? Is it educational? Or will it offer some other type of service? Answering these questions will serve as the starting point for the entire process – these details will guide the decision-making processes for the entire initiative.

2. Top priorities, in order of importance.

Once the website’s purpose and goals have been determined, it’s time to prioritize. For example, if the website needs to be launched and accessible quickly, it might be best to begin with a basic site and add to it later. If the website’s purpose is to provide data or educational information, what assets should be made available first? Stillwagon advised making a list of priorities to better drive the creation and launch process.

3. Register a domain name.

The domain name will serve as the web address for the site. PressCoders pointed out that the company may want to include the business’s name or certain keywords in the domain name to make it easier for clients to find. Overall, it’s important to maintain a short and simple name that won’t be difficult for users to remember.

“It doesn’t matter what SEO value you get from the keywords, you need to think of people first, and search engines second,” PressCoders recommended.

The name must be registered with a leading hosting provider like Hostway in order to ensure that it remains the property of the business. Many generic domain names can be quite popular and are therefore some of the first to be used. Registering a domain name can establish credibility for the brand as well as increase its visibility online.

4. Features and capabilities.

It’s also essential to think about the features and capabilities the website will need. These will largely be governed by the site’s purpose and goals. For example, an e-commerce site will need a product catalog and shopping cart. An educational resource site may need considerable storage, a robust database and a blog. Selecting these features will help with the next step.

5. Platform software.

There are more than a few solutions on the market that serve as the foundation of a website. These differ in their features and capabilities. For example, Magento is a leading e-commerce platform and offers just about everything a brand needs to open its own online store. WordPress, on the other hand, is more suited for blog-based sites. There are free tools as well as paid solutions, each providing different levels of design, support and user capabilities. It’s important to do research in order to select a platform that will be able to address all of your needs.

6. Hosting.

Another key component of website building is attaining the proper support. Often, it makes more sense for a business to select a hosting provider that can handle the equipment, expense and upkeep to host the site. When registering a domain name, it can be helpful to also examine that provider’s hosting capabilities.

Hosting also comes in different levels. Dedicated hosting, for example, differs from shared hosting, although both strategies come with their share of benefits. Working with an industry-leading hosting provider like Hostway can help decision-makers understand the difference and select the best environment for the company’s needs.

7. Content.

With the domain name, platform and hosting resources in place, it’s time to consider what content will live on the site. Again, this is primarily determined by the type of website and the industry the business operates within. Stillwagon noted that a website should include company branding and contact information. The website can also provide in-depth details about available products or services, and informative content such as that found on a blog. The possibilities here are nearly endless.

8. Continual improvements.

It’s critical to keep in mind that websites do not exist in a vacuum – they must be continually updated and improved to capture users’ attention and provide true value for the brand.

 

JR Reichl is the Senior Director, Marketing Communications for Hostway Services, Inc. Hostway is a leader in Cloud Hosting, Managed Hosting, and Email and Applications, which delivers reliable, secure, and scalable application-aligned solutions to a half-million customers. Providing SMB’s and enterprises with cost-effective business solutions needed in today’s environment.

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How To Be A Truly Ludicrous Startup Leader

by Paresh Shah, founder and CEO of Glimpulse

A creative leader can mean the difference between success and failure, a firework and a flop, rags and riches. A startup team is an untapped reservoir of world-changing ideas and powerful entrepreneurial energy, but only with great leadership will this collective ingenuity come to light.

Too often, upper management proclaims the importance of creativity and innovation, but then it does nothing when the demands of bolstering next quarter’s earnings trump making time for innovation, ideation and creation. Real creativity is not a checkbox quality; it’s a way of life, a state of mind and a constant, joyful process.

An entrepreneur who leads with the four I’s – inspiration, innovation, insulation and integration – can unleash his or her organization’s creativity and reap the rewards.

1. Inspiration.

Inspiration is a great word. It brings together the acts of motivating and breathing in; this is a meaningful way to think about leadership because inspiring a team should be a constant filling and refilling motion, just like a deep breath. Great leaders use the power of inspiration constantly to uplift and guide team members and to fill their organizations with ideas, a sense of freedom and an awareness of the possibilities ahead.

Inspiration seems to come as easily to Elon Musk as breathing. He regularly drives his team to push boundaries and to try harder by coming up with new motivators. He recently unveiled a new upgrade for Tesla’s Model S, for example, which he aptly named “Ludicrous Mode.” It’s an insane level of power that takes the car from 0 to 60 mph in 2.8 seconds, well over and above what other companies would even dream of in the realm of sports cars worth more than a $1 million — and for only a fraction of the cost. However, Musk’s “Ludicrous Mode” is not only an astonishing product, but it’s also a mindset. It’s what he expects of himself and his team, and it vividly illustrates that they’re part of something extraordinary, even ludicrous.

2. Innovation.

Innovation puts a company ahead of its competition and serves as the lifeblood of a successful startup. To cultivate an innovative organization, a leader needs to not only provide the structure and strategy for innovation to thrive, but he or she also needs to develop an atmosphere and an expectation of innovation among team members. It’s not just about being able to do something “better, faster and cheaper”; it’s about fostering a culture that values innovation and creativity so much that the company ends up doing everything better, faster and cheaper by default.

Consider Four Seasons hotels, which for years had been risk-averse and organized around general managers. But the company realized that the employees who dealt daily with guests would be more passionate about their jobs if they felt involved. Enter its Blue Water initiative, which encourages idea generation throughout the company.

3. Insulation.

Encouraging creativity doesn’t mean throwing caution to the wind. In fact, when a team’s drive to innovate is nurtured, more time is required to protect employees and insulate them from negativity, distractions and detractors.

Role definition can help. My company’s CTO could get involved in financial decisions, but I don’t let him; he has his own to-do list to work on. Let our CFO worry about the money.

Being a creative leader isn’t about letting teams loose; it’s about creating the space and time they need to think big and experiment, make mistakes, and stay focused on their strengths. Consider Google: Its policy allows employees to spend 20 percent of their workweeks on personal projects; this concept led to widely popular tools like Gmail and AdSense.

4. Integration.

The I’s only work by combining them in a cohesive business strategy.

Take a risk or break a rule – people will think it’s “outrageous.” But if innovation is integrated with inspiration and insulation, outrageous can become the next ludicrous.

It starts with inspiration – showing a team they’re part of something extraordinary. Leaders then propel them to innovate by providing a sound structure to fortify the ideation process and its execution. They insulate their teammates’ creative minds and protect them from distractions and detractors.

Finally, they integrate these qualities into one smooth-running, lightning-fast, low-cost racing machine: their company. It’s no pipe dream; companies make this a reality every day, and they’re recognized throughout the world. One of those companies, Southwest Airlines, has operated successfully for more than 40 years. How? It created a culture where its employees are involved in a larger common goal, and that motivates them. The motivation – and ultimately the common goal – stems from a foundation of the four I’s.

Put them into practice, and the results will be ludicrous.

 

Paresh Shah is an experienced entrepreneur, executive, yogi, life coach, and dad of four kids. He’s the founder and CEO of Glimpulse, the Human Expression Company that creates products to challenge, inspire, and equip people to be happier, healthier, and more giving through authentic self-expression.

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Small Business Loan Lingo: Terms You Need To Know

by Jocelyn Baird, NextAdvisor

It can be daunting for young or new small business owners to consider taking out a loan, especially if they haven’t had much experience with this type of financial transaction. You probably wouldn’t try and open up a new credit card or take on a mortgage without learning the terminology specific to those financial products are. The same goes for taking out a loan – the more research you do on what the various words and phrases mean, the better you can navigate the loan process.

When it’s all boiled down, there are four basic concepts every potential borrower should understand before applying for a loan:

Origination fee.

An origination fee is essentially a processing cost charged by lenders to cover the expenses of processing your application and disbursing your loan. While some small business loan services charge all customers the same flat-rate fee, others will give borrowers a rate based on their qualifications or approved APR. That said, on average you can expect to pay an origination fee between 1% and 5% of the total amount you are receiving – so if you’re borrowing $100,000 with an origination fee of 3%, your lender will take $3,000, leaving you with $97,000. It’s important to factor the origination fee in when you request a loan, because the last thing you want is to come up short when it’s time to put the money to use.

Secured vs. unsecured.

You might often hear loans described as either secured or unsecured. The difference between these two terms is quite simple; a secured loan requires collateral, such as a vehicle or property, as security to ensure repayment of the loan. As you might have guessed, an unsecured loan does not require collateral — although that generally means the APRs are going to be higher to account for the added risk taken by the lender.

Personal guarantee.

Often a small business lender will require borrowers to sign a personal guarantee, which is an agreement that makes you personally responsible for the loan in the event that it goes into default. Not only will the lender be able to go after your business assets, but it would also be able to recoup your personal assets in order to cover the debt. Personal guarantees are most often required for businesses that are just getting started or aren’t well-known, since it’s more likely that the business may fail and therefore be unable to pay back the loan. Small business owners should consider the potential impact on their personal finances if a personal guarantee is required to take out a loan. And since personal guarantees don’t need to be signed by the business owner, if you are considering co-signing for a loan with a business it’s important to make sure you are fully aware of its entire financial situation before signing any kind of personal guarantee.

UCC lien.

This is another document you may be asked to sign when a lender requires collateral. In the U.S., the Uniform Commercial Code is a collection of laws on the contracting and trade of goods that has been adopted by most states (keep in mind, some states, like California, have adopted their own UCC laws). Also known as a UCC-1 financing statement, a UCC lien is essentially a document that lays claim on the tangible assets owned by a business. It is used in the event the loan can’t be paid back to help recover some or all of the costs.

When you’ve signed a UCC lien against your business assets, you can’t sell or get rid of them without having paid off your loan in full – which is intended to guarantee that you will honor your debt. The good news is, UCC liens only cover your business assets; they don’t apply to your personal property or assets. However, if you sign a personal guarantee as well, then your non-business assets will be at risk from that if your business should go under before your debt is paid off.

While the lingo of small business loans and other similar business finance products can be daunting at first approach, the better you understand, the better your chance of making the smartest decisions for your business. You can learn more about small business loans and many other topics small business owners need to know by visiting www.nextadvisor.com.

 

Jocelyn Baird writes for NextAdvisor on topics such as identity theft, credit monitoring, Internet security software, small business and personal loans, payday loans and photo card services. Her writing has been featured in publications including The Huffington Post, and she has been a guest on several radio shows nationwide. She is a graduate of Syracuse University with a dual degree in Writing and Rhetorical Studies and Anthropology. 

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“Joinership” Is The New Leadership

By Nick Goode, Commercial Director at Sage One

It’s no secret that most companies value leadership over just about anything else. It’s an attitude reflected in our culture and on the surface, it appears to be the key to success. However, in my experience, there’s another component more important than strong leadership — an element that rarely gets the spotlight, because it’s all about not stepping into the spotlight. I’m talking about “joinership.”

A recent survey of over four thousand Ph.D. candidates found that only 11 percent of respondents expressed a desire to be a “founder,” while a massive 46 percent expressed interest in becoming a “joiner.” That’s a difference of over 4 to 1, but is it really that surprising that most people would rather join a passionate team than try to build something themselves from the ground up? Strong leaders may inspire people to join their cause, but it’s those early hires and early adopters — the fledgling community who believes in a company’s ideals — that will make or break a young business.

Part of the reason everyone tends to focus on leadership is that so many programs gear us towards it in the first place. I can’t think of a single MBA program that prides itself on teaching students to “become the followers of tomorrow.” Whereas leaders are seen as the pinnacle of an organization, there’s a bit of a stigma to following, even though they can have a much bigger impact on an organization over the long run. That’s not to say leadership isn’t important. It is of course, but a leader can’t do much without followers.

So let’s break apart the false dichotomy into three parts: leaders, joiners and followers. What makes joiners different from followers? It’s easiest to see the difference on social media. If you have a lot of followers on Instagram or Twitter, it looks very impressive. However, what are those followers doing? Are they engaging with you? If they’re liking posts, commenting, reposting content, and suggesting friends every #FollowFriday, rather than passive followship, it suggests a true spirit of joinership, rather than merely following.

It’s the chemistry between these types of joiners and their strong leaders that creates a synergy for success—a point often brought up by the greatest leaders. Attracting passionate joiners is fundamental to a company’s short- and long-term success — they are the advantage that sets you and your business ahead of the competition. Again, I want to make a clear distinction here. There is a massive difference between hiring from a pool of job candidates and hiring from a pool of passionate joiners. Joiners work with leaders towards a unified vision — they happily stay long hours to reap better rewards and the culture they help build and become a part of is a natural fit. In fact, aside from enthusiasm and commitment, there’s a huge financial incentive as well: a bad hire can cost up to 15 times their base salary.

Of course avoiding expensive mistakes is important, but by attracting excited joiners exponential value will be added to your company. Once you hire them, something interesting happens: joiners beget a culture of more joiners. In fact, Google has found that hiring one well-performing joiner can create up to 300 times more productivity.

From the research mentioned here, and what I have witnessed working for a big corporation and with entrepreneurs, it is so important to have a mix of both leaders and joiners, and both are of equal importance. Just imagine: a whole team of people passionate about the same vision, working towards the same goals without any dead weight dragging them down. Sounds pretty good to me.

So focus on leadership by all means, but don’t forget the importance of joinership. It’s the new success alchemy.

 

Nick Goode is the Global Commercial Director of Sage One, Sage’s cloud accounting and payroll solution for start-ups and small businesses. Goode is accountable for the commercial, channel, product and marketing strategy for Sage One worldwide. Goode is previously Head of Sage One for Sage UK, and prior to that, Head of Marketing for the Accountants Division at Sage.

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5 Tips For Marketing Your Store For Small Business Saturday

By Nicole Larrauri, President, The EGC Group

Now in its sixth year, Small Business Saturday, the holiday shopping day that falls between seasonal icons Black Friday and Cyber-Monday, is finally coming into its own.  This November 28^th, an estimated 88 million consumers will shop locally – and inject some 14.3 billion dollars into their community economies. It’s a perfect time to introduce new customers to your store while re-establishing ties with existing customers. Is your small business ready to take advantage of the day?

Here are 5 tips for making the most of the Small Business Saturday, the day consumers are focused on supporting Main Street outlets like yours: 

1. Signage, Signage, Signage.

Make a special effort to let first time shoppers and window browsers know that they are welcome to come in and check out your store. This is the time to let everyone know, through signage, what specials you’re running, what other services you might provide – like repairs, product demos or classes. Many SBD shoppers will be new to your store.  Make that good first impressions and educate them about your product offerings and services that they might not have been aware of.

Make your store stand out with balloons and signage that will draw casual window shoppers into your business.

For help with this, whether you’re an American Express merchant or not, (Am Ex founded Small Business Saturday), you can download print outs and other promotional materials at their site: http://ift.tt/1wvfQ87.com/us/small-business/shop-small/.

2. Host a Special Store Event.

Promote the festive mood and comradery that comes with the holiday shopping experience by engaging your potential customers with an exciting store-wide event.  Make your store irresistible to first timers! This could be mean holding an in-store sweepstakes, offering free coffee or seasonal treats, hosting a special appearance by Santa Claus, a local celebrity or community organization, or sponsoring a toys-for-tots or similar type charity collection.  Anything to infect customers with that special holiday mood – and show you’re a vibrant, giving member of the community.

3. Partner With Your Neighboring Stores.

There’s no need to go it alone.  Check with your local Chamber of Commerce or your adjacent store owners to see what plans they have for Small Business Saturday. Then look for ways to tie-in or mutually support one another on the day. Perhaps you provide a coupon to your patrons that’s good for a discount at your neighbor’s shop and vice versa.  Find out if your local paper is running any kind of Small Business Saturday advertising spread that you might be able to get a discounted ad rate for – or split the costs with a group ad with your neighboring stores.

4. Leverage Franchise or Dealer Promotions.

If you’re part of a national franchise or represent a large brand as an exclusive dealer, be sure to take advantage of any promotions they may be running. Brother sewing dealers, for example, can take advantage of marketing and advertising tie-ins that the company runs that will results in getting more foot traffic into the shop. If your franchise or dealership company is promoting a specific product or service, be sure your store incorporates the promotion, to assure customers that, even though you are independent, you (and they) have the backing and support of an established, well-known entity.

5. Don’t Forget Social Media.

Part of your job as a small business is to promote Small Business Saturday to those who are not yet familiar with the concept.  One great way to do this is through posts on your store’s social media channels and web site. Be sure to let people know you are taking part in Small Business Saturday, explain how supporting you supports the larger community, and detail any special promotions you’re running in association with the day. And don’t wait ‘til November 28^th to launch your campaign. Post early and often about the event – and generate some buzz leading up to the event.

 

As President of NY digital marketing agency, The EGC Group, Nicole Larrauri spearheads the business’s marketing activities and strategic direction. She is a featured contributor to Agency Post, was named a “40 Under 40” honoree in the Long Island Business News (LIBN), and was listed among the “Five People to Watch in Advertising” by Newsday and LIBN.

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How IE’s Market Readiness Grant Helps Singapore Businesses Expand Overseas

by Azhar Katib, founder of WebSell Solutions Ptd Ltd.

Expanding a business be it a young start-up or a well-established one, outside its parent location can be an arduous and expensive foray. For Singapore businesses wanting to grow, overseas expansion may even be a necessity considering the small size, population of this country. Luckily, the government recognizes this and provides funding to businesses big and small to set up their overseas presence through International Enterprise (IE).

The Market Readiness Grant (MRA) administered by IE helps Singapore businesses grow and expand their presence worldwide by giving them the required financial help, opportunities and information to learn more. Here are some details on how you can leverage this Grant to pay for your online marketing costs for overseas expansion.

First, let’s look at the qualifying criteria involved, which are quite favourable for SMEs –

Qualifying criteria and funding support.

• Any small and medium level enterprise that has its headquarters in Singapore is eligible for this Grant
• The company should have an annual turnover of less than 100 million Singapore Dollars
• The support is given to a maximum of two applications in a fiscal year that starts from April of one year to March month of the next year
• 70% of the total cost for all the eligible activities is provided to the business owner to a maximum level of SGD 20,000 in a fiscal year for a single company

What’s covered and not covered under this grant.

Besides funding for activities such as overseas exhibition booth costs and fees for E-commerce portal listings; under this grant, companies can also claim costs incurred for online advertising using search engines and social media. Through this grant, a company can claim 70 % of their cost spent on internet marketing. These activities include search engine optimization, display ads and other forms. Do note that MRA Grant is only applicable for worldwide or global promotion and NOT for local promotion of the business.

So for example, an online business that wants to get clients beyond its native boundaries by promoting and exporting its products to the nearby countries is eligible to get this Grant.

Similarly, an IT firm that wishes to publicize its Web based Application software throughout the world can also claim this Grant.

However, a business that serves a local clientele or say a local restaurant that wants to market to incoming tourists to Singapore by advertising overseas will not be able claim the MRA Grant.

How to claim the MRA Grant.

If you read this far and eagerly await on how to proceed, then here’s the rundown of steps that need to be followed –

1. Fill the downloaded form of the grant form from the IE website.
2. Request the Online Marketing firm for a quotation by sending the supported documents.
3. Mail the completed documents and the form along with the quotation to the official mailing address of IE.
4. Wait for a Letter of Offer from IE which may take 2 or more weeks
5. Upon receipt of the Offer Letter, you need to confirm it with your signature
6. Thereafter, complete the project within 6 month and send your claims to IE for disbursement

For a summarized one page guide on the steps and criteria involved, refer to this Infographic on MRA Grant for easy reference.

So, companies who cannot cope with foreign business development costs now have an option to seek funding and lessen the financial burden that comes along with expansion plans. With funding support and mentoring from government agencies like IE, help is just round the corner.

 

Azhar Katib is the founder of WebSell Solutions Ptd Ltd., a companyspecializing in online presence management – offering Internet marketing, web design & development services to small- and medium-sized businesses. He’s passionate about content based marketing using search & social media channels that empowers businesses with visibility on the internet. He has a background in IT with over 18 years in architecting systems, project management and application development.

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[ADV] How Can Translation Services Help Business?

Today, the world is smaller than it ever was before. The developments in technology now allow us to communicate with other people based anywhere across the globe within seconds. Similarly to our personal lives, globalisation can also have a positive effect on businesses. The idea of international expansion becomes more and more popular within the UK SMEs. In order to reach new consumers, business owners decide to take a full advantage of globalisation and approach new, foreign markets.     

As rewarding as it is, international expansion also brings along a number of challenges. Indeed, even some of the largest and well-known companies in the world failed miserably, simply due to the lack of knowledge about their target market. A recent research suggests that over 90% of the people who purchase goods from a foreign shop, are more likely to do so if the information provided is in their native language.

As you can see, the importance of a localised approach and translations simply cannot be underestimated. The true potential of a foreign market, similarly to your home market, can only be seen if all steps are taken to ensure that consumers receive the best possible service from the very beginning of their journey with you, through the purchase and then the aftercare.

A great way to localise your business methodology is to approach your potential customers not only in their native language but also intact with their social, cultural and behavioural values. This most definitely isn’t a straightforward task, and frankly, it can take a lot of time, research and money to successfully complete.

Translate your business material.

One of the most important steps a business owner must undertake in order to increase their chances for success in a foreign environment is to translate company’s business and marketing material. Not only will this allow the new customers to understand more about the product or service business is offering, but it will also be a sign of respect and professionalism to them. Anything from the company’s website and brochures to business cards and email campaigns should be professionally translated by an agency specialising in business translation services. Such company will not only translate your material word for word, but will also ensure that your message is appropriately localised for the target market.         

An example of a region where localisation is very significant is Asia. China, one of the fastest growing markets in the world has a rather specific audience. Here, a great attention is paid to symbolism and culture. It could simply be disastrous for business to enter the Chinese market with, for instance, colours and messages which although in Europe are absolutely fine, to a Chinese consumer represent something unpleasant.     

Translate legal documents.

Although translating marketing material is extremely important, it sometimes simply isn’t enough. Another important factor which business owners must consider and which can directly influence their expansion is translating their legal documents. Contracts, warranties, user manuals or licences can be extremely informative and significant to the smooth running of business and full customer satisfaction.  As some of these are legal documents, the accuracy and use of correct terminology is simply essential. 

Blog.

Translating and localising your website is great, but what about blog, news and social media? Your customers might want to stay up-to-date with the news about your company and a great way of connecting with them without being too intrusive is through blog and social media. Think about translating some of your posts/news into the target language. On top of looking professional, your customers will definitely appreciate the effort.

As you can see, translation services can indeed be extremely beneficial for anyone who indents to enter and penetrate foreign markets. If enough planning and preparation is done, this can be an important part of your expansion and help your business in successfully acquiring new customers and what’s perhaps even more important – keeping them happy.

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Launching A Successful One-Man Business Made Easy

There’s no greater feeling in business than building a successful company from scratch, especially when you do it by yourself. In today’s climate, the opportunities for creative entrepreneurs are greater than ever.

We’ve all had a fantastic business idea at one stage or another. Once upon a time, there were far too many stumbling blocks for most people to turn those dreams into a reality. Nowadays, though, it is very possible. All you need to do is follow a trusted blueprint while also sprinkling a little creative flair on proceedings.

If you’ve dreamed about building a successful business, now is the time. And here’s how:

Funding.

Before doing anything, be honest with yourself re: money. Establishing a company can be done on far smaller (considering inflation) budgets than previous years. But you still need some capital.

Lending money through business loans isn’t as easy as it once was. However, writing a thorough business plan will give you the best chance. Failure shouldn’t signal the end, though, as there is always the option of financial investors or crowdfunding.

If you still fail to raise the desired funds, you’ll just have to be tighter with your budgets.

Secure A Working Space.

When first starting out, there are many different ideas swirling around your head. But one of the first things you need to get tied down is the work premises. The type of business that you run will dictate whether you need a shop, an industrial unit or an office. Finding a location to suit your business is crucial.

For many, a coworking office space is an ideal solution. This helps keep costs low while you can also gain valuable tips from more experienced peers. The fact this also covers other items such as internet charges makes life a lot easier too. Meanwhile, the versatility of being able to book other locations can be very valuable when it comes to meeting clients.

Another option is to work from home. There is a real danger of becoming distracted, though. If you don’t have the ability to separate leisure and career aspects, this is not the choice for you.

Recruit Well.

At first, you might only need to hire one or two members of staff. Nevertheless, you cannot afford to underestimate the importance of getting this step right. After all, the input of your employees will directly impact the output of the company operation.

Hiring the best candidates will stand your business in far greater health. If the process seems a little daunting in those early stages, you can always outsource a number of tasks to reduce some of the financial stress.

Either way, this is far too important to ignore.

Learn From Previous Success Stories.

Your staff aren’t the only people that can help you achieve your goals. There are many success stories involving startups that began life with very humble beginnings. Use these entrepreneurs as inspiration.

As well as conducting research, you could try contacting them for specific pointers. The worst they can do is say no.

Build An Online Presence.

If you are looking to generate online sales, this point is clearly one of the most important factors of the entire venture. Even if you plan to stay offline, though, the benefits of gaining a strong foothold on the internet are vast.

It’s important to accept that our interactions with the internet have changed drastically in recent years. Nowadays, people are just as likely to open up their smartphone browser as they are their computer browser.

 

How many times have you been out looking for a specific product and turned to Google for help? Capitalise on this feeling from a business perspective by increasing your Google visibility. And if you are an online retailer, then those rewards will clearly extend to your web sales too.

Meanwhile, social media and blogging platforms are a great way to showcase the personality of your business. If your content resonates well with the audience, there is a far greater chance that their interest will convert into profits.

Be Organised.

With all the resources at your disposal, you can run a successful business all by yourself. But good organisation is a must.

Running a business isn’t easy. It will become a lot harder if you can’t keep things under control. There are plenty of smartphone Apps and computer packages to assist you. Not accepting this help would be extremely foolish.

You already have a clear vision in your mind. Good organisation is the key to staying on course. Whatever you do, make sure you have this item perfected. In truth, it’s one of the most important skills that anyone can learn.

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