NebulaBiz Cash Advance Melbourne Fl: August 2019

Saturday, August 31, 2019

Kits for Kids’ Sleepovers. Parents’ Ambien Not Included.

The commodification of a homemade ritual.

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Friday, August 30, 2019

What to Do If Hurricane Dorian Hits Your Home, Mortgage

Conventional Loan Requirements and Guidelines for 2019

American Airlines Bag Fees: How They Work, How to Avoid Them

How to Make the Most of American’s Basic Economy

Delta Air Lines Bag Fees: How They Work, How to Avoid Them

Apple Card: Shiny Package, but Still ‘Simply a Credit Card’

Drink Up Savings at Starbucks

Is Micromanaging Your Employees Hurting Your Business?

Many small business owners are guilty of micromanaging. It’s no secret that delegating tasks is often very hard for small business owners to do. After all, how many of you started your business thinking, “I can do it better than my boss can!” or something similar?

When you’re the best at something, it’s tough to let anyone else take the reins. But micromanaging can hurt you, your employees, and your business.

The dangers of micromanaging your employees

Micromanaging might not seem that bad to you. If you know the best way to do something, why not have everyone else do it the same way? Unfortunately, micromanaging can have serious downsides for you and your business. Here are a few:

You may burn out. I haven’t yet met the small business owner who has time to do everything on their to-do list—much less keep an eye on everything their employees have to do. Trying to oversee every task in your business yourself will leave you burned out and less effective.

Your employees won’t be happy. Being able to have control over their own work is a huge factor in employee satisfaction. When employees feel like robots—or that they’re being watched—they’ll disengage from their work, becoming less enthusiastic and less effective.

Your business will suffer from high turnover. Dissatisfied employees are likely to start searching for new jobs that offer more autonomy.

You might be a micromanager if . . .

Watch for these warning signs that you might have a problem with micromanaging:

You ask your employee for daily updates or progress reports (even on non-urgent projects).
You never think your employees are doing a good job. It could always be better (if you did it, that is).
Instead of teaching employees how to take over low-value tasks, you do them yourself (“It’s faster!”).
Work backs up because everything has to wait for your approval. Deadlines get missed and customers aren’t happy.

Still not sure if you’re a micromanager? Try these ideas to find out:

Perform a self-assessment. Write down every single thing you do all day, every day, for one week. At week’s end, assess what you did. Was most of your time spent on tasks that only you can do? Or did you spend a lot of time doing things someone else could have done or checking up on your team’s work? If you’re taking responsibility for tasks that your assistant could do, you’ve got a problem?

Ask for staff feedback. Do a 360-degree performance review of yourself. Ask your team to provide honest feedback on your management style. One of my business partners got a rude awakening years ago when an employee finally blurted out that she was sick of being micromanaged. My partner finally understood that not everyone would do the job the way she did—and that was okay.

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How to kick the micromanaging habit

Ready to break the habit of micromanaging your employees? Take these baby steps:

Look for low-value work you can delegate without feeling you have to oversee it. Start small and gradually build up to trusting your employees with more important work.

Explain what you want employees to achieve but let them figure out the details of how to get there. They may think of a better way to tackle a problem than you would have.

Authorize employees to make certain decisions without your okay.

Tell employees they don’t need to CC you on emails that don’t directly affect you.

Yes, giving up your micromanaging ways takes hard work. But ultimately, letting go will pay off in big ways—more time to focus on important work, more satisfied employees, and a more successful business.

The post Is Micromanaging Your Employees Hurting Your Business? appeared first on AllBusiness.com

The post Is Micromanaging Your Employees Hurting Your Business? appeared first on AllBusiness.com. Click for more information about Rieva Lesonsky.

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14 Ways to Improve Your Product Pitch to Clients and Investors

Confidence and technique are two key elements of an effective investor or client pitch. If you don’t have confidence, you may come across as unsure about what you’re offering; if your technique is bad, you may come across as someone people won’t want to work with, or the message about what you’re offering and its benefit to investors will be unclear.

To improve your pitching technique—which, in turn, will give you more confidence—we asked successful entrepreneurs from Young Entrepreneur Council (YEC) the following question:

Q. What is the best approach for practicing your pitch for investors or potential clients, particularly if you’re not feeling confident?

1. Do your homework

If you’re feeling unsure about yourself or lack confidence in your pitch, take a step back and try to identify the weaknesses you are feeling. I’ve always found that when I do as much due diligence as possible on who I’m pitching to, I feel more confident. Knowing the business experience of the person I’m pitching allows me to make my pitch more personalized and compelling. —Brian David Crane, Caller Smart Inc.

2. Practice the pitch 100-plus times

Practice makes perfect, as they say. You’ll be infinitely more confident doing your pitch if you know the material and it becomes second nature. The biggest reason for freezing on stage is that people forget the material or aren’t confident they know it. Practice your pitch 100-plus times on your own, or preferably in front of others, to get comfortable with the material. —Andy Karuza, Relm Wellness

3. Talk in front of a mirror, then friends

Practice your pitch in front of a mirror first, then perform it in front of friends and/or family members. Using a two-pronged approach will allow you to see things that others might notice about you (like smiling for example), and letting others in will give you outside feedback that you probably wouldn’t catch on to. It’s the best approach because you have at least two more sets of eyes on your pitch. —Andrew Schrage, Money Crashers Personal Finance

4. Build rapport

Investors and clients have heard hundreds, or even thousands, of pitches. By building rapport, for example, through small talk, you can differentiate yourself from your many competitors while also increasing your confidence by making the interaction more empathetic. —Frederik Bussler, bitgrit Inc.

5. Prepare for unexpected questions

One big fear during a pitch for investors or potential clients is being stumped or stumbling over unexpected questions. So, instead of just practicing your pitch, come up with some questions that could be asked and practice your answers for them, too. You could even ask coworkers or friends to submit questions so that you can come up with answers to a wide range of potential inquiries. —Stephanie Wells, Formidable Forms

6. Time yourself

A great way to objectively evaluate your pitch before presenting it is to time how long it takes for you to say it. This forces you to think about your pitch in a different way, which can help you decide what does and doesn’t need to be said. After doing this a few times, you’ll feel a lot more confident about the quality of both your presentation and the pitch itself. —Bryce Welker, Beat The CPA

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7. Record yourself

It may feel awkward at first to watch yourself on video, but you will get used to it, and doing this will help you to see facial expressions and delivery. Share these recordings with others to get their tips.—Peter Daisyme, Hostt

8. Practice positive self-talk

You can practice your pitch all you want, but the truth is if you’re not feeling confident, it’s not going to go as well as you want it to. So spend some time practicing positive self-talk. Tell yourself that you’re confident, that you’re going to do amazing, and that everyone will be impressed with your presentation. Feeling confident will make all the difference heading into your pitch. —John Turner, SeedProd LLC

9. Know your pitch by heart

The best way to feel ready for a pitch is to know your pitch forward and backward. I accomplish this by weaning myself off the page. Even if I will have the pages in front of me when I do the real thing, I want to know I can talk through it without being reliant on what I have written down. This will give you the confidence to be yourself in the room and connect more with your listeners. —Zach Binder, Bell + Ivy

10. Make sure it’s engaging

As someone who has given dozens of client pitches, I’ve learned the most important thing to do is to engage your audience, and I have found the best way to do this is by being relatable, and in turn, likeable. I try to listen to every point and answer every question. —Kristin Kimberly Marquet, Fem Founder

11. Hire a speaking coach

Practicing by actually talking to investors is great, but it actually makes learning harder because you’ll be focused on the outcome, not the process. Hire a public speaking coach and practice your pitch with them. They’ll be able to properly analyze what you’re doing and give you practical advice, ranging from your pitch to tempo. Changes will be rapid and your confidence will skyrocket. —Karl Kangur, Above House

12. Hire an editor

It’s common for business owners to feel nervous about pitching to clients and investors because they are not confident in their writing skills. They often feel like their script and talking points are subpar. An editor can help you refine your pitch to help you feel more confident when pitching to investors or clients. —Syed Balkhi, WPBeginner

13. Involve storytelling

Perhaps you have trouble demonstrating your pitch to potential clients and investors, but what if you were to add the art of storytelling into the mix? This could be a great way to not only incorporate fun, but if there’s a story to back up your pitch, it also will help your investors see the situation from a different point of view. People love hearing about others’ experiences, so give it a shot. —Jared Atchison, WPForms

14. Build a list of 100 investors

The best way to practice your pitch to investors is to actually talk to investors. Another founder can talk about your delivery and your message, but they won’t have the insights into how investable the idea is. Build a huge list of target investors, and consider starting at the “bottom.” Practice on those investors that are good, but not your top selections. Then move up to your target funds. —Aaron Schwartz, Passport

The post 14 Ways to Improve Your Product Pitch to Clients and Investors appeared first on AllBusiness.com

The post 14 Ways to Improve Your Product Pitch to Clients and Investors appeared first on AllBusiness.com. Click for more information about YEC.

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A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready?

In our data-fueled world, we’re seeing a record-breaking number of breaches. Take, for example, Facebook’s 2018 breach of 50 million accounts. In 2019, the social media company made the news again, when 540 million user records were exposed on Amazon cloud servers.

Unfortunately, data exploitation is not isolated to specific industries. For example, hackers gained access to sensitive information of 106 million Capital One customers across the United States and Canada. And Equifax encountered a breach, where the personal information of 147 million Americans was compromised. The effect these breaches have on consumers is mounting. In fact, a recent Pew Research Center study found that nearly half (49%) of Americans believe that their personal information is less secure than it was a mere five years ago.

With consumers becoming increasingly disillusioned that companies are taking adequate measures, many states are taking a look at their privacy laws. Considered to be the most comprehensive in the country, the California Consumer Privacy Act (CCPA) is set to take effect January 1, 2020, with enforcement beginning July 1, 2020. This expansive act is designed to give consumers more control over their personal information and will reach beyond California’s borders.

Law affects non-California businesses, too

Even if your for-profit SMB isn’t located in the Golden State, you may still be on the hook to comply. Do you do business or have customers (or potential customers) in California? If you answered yes to this question, and you meet one of the following criteria, your company must conform to CCPA regulations:

Your annual gross revenue is more than $25 million.
Your organization receives, shares, or sells personal information of more than 50,000 individuals.
Your company earns 50% or more of its annual revenue from selling personal information of consumers.

Don’t meet the criteria? Many states are using the CCPA as a template to draw up their own acts. It’s just a matter of time before privacy regulations affect your business.

Giving consumers power over their data

The CCPA will enable individuals to take a more active role in monitoring and protecting their personal information. Although the regulation consists of complex data safeguards, consumer rights can be grouped into five high-level categories:

Businesses must inform consumers of their intent to collect personal information.
Consumers have the right to know what personal information a company has collected, where the data came from, how it will be used, and with whom it’s shared.
Consumers have the right to prevent businesses from selling their personal information to third parties.
Consumers can request businesses to remove the personal information that the business has on them.
Businesses are prohibited from charging consumers different prices or refusing service, even if the consumer exercised their privacy rights.

With its comprehensive information privacy requirements and extensive reach, businesses need to take a hard look at their personal data-governance capabilities and processes. And for many, CCPA compliance will require them to make sweeping changes.

Other Articles From AllBusiness.com:

Don’t wait—prepare now

According to a 2018 PwC survey, 64% of businesses had not yet started to prepare for CCPA regulations. Have you put off starting your compliance journey? Have you begun the process, but find yourself challenged by the fast-approaching deadline? The following can help ease the burden and make the changes you need to implement less overwhelming:

Evaluate your current capabilities by identifying and classifying personal data.
Take a look at your data-governance capabilities.
Create a strategy to monetize data in a way that meets CCPA privacy regulations.
Take stock of your privacy controls, keeping an eye out for gaps in meeting CCPA requirements. Then prioritize the processes and technologies that need to be updated.
Be proactive and set up a CCPA program management office to handle regulations accountability, remediation, and implementation.
Implement regulation monitoring procedures to ensure your business continues to be in compliance over the long run.

Businesses will benefit too

Consumers want to do business with companies that protect their data privacy. As a compliant organization, you’ll be able to market your adherence, which in turn can help boost sales and customer loyalty.

Not to be discounted is the personal information you collect. You’ll know exactly where the information came from and have better control of its accuracy, enabling you to really know your customers and improve your marketing strategies.

The post A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready? appeared first on AllBusiness.com

The post A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready? appeared first on AllBusiness.com. Click for more information about Brenda Stoltz.

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Thursday, August 29, 2019

3 Keys to a Healthy Sales Pipeline: A Small Business Guide to Better Selling

By Valerie Schlitt

My Uncle Jack was a salesman. When our family got together, he would talk about the fancy restaurants he’d go to, the traveling he’d do to meet his clients, and the golf courses where he’d play.

I also remember how he’d describe his approach to door knocking and cold calling. He had dozens of phone books stacked in his office, along with other hard-copy directories and piles of business cards.

These were the sources of his next sales opportunity. Uncle Jack had devised an elaborate follow-up system to keep the wheels rolling. He would make an index card for each prospect, order the cards by date, and keep them in a box so he’d remember to call on the right day. I was mesmerized by this.

My uncle’s success depended on his ability to find the next opportunity, gain his clients’ trust, and close sales. He loved every minute of it, and seemed to do well at his job.

But if Uncle Jack were to come out of retirement today, he’d notice dramatic changes in how the most successful B2B companies handle sales. Digital-age technology has completely upended the sales world from both the seller and buyer perspective.

On the buyer side, a wealth of easily accessible information allows decision makers to be more selective about the products they want. Before even speaking with a sales representative, 68% of B2B buyers prefer to research online, according to Forrester Research.

Moreover, they’re involving more people in the buying process. Harvard Business Review reveals the average number of decision makers at a company is 6.8; in Uncle Jack’s day, it was 1 or 2.

Vendors have responded by using technology to identify companies that best match their offerings—sometimes before those companies even know they have a need. Next, they implement multistep, integrated online campaigns to keep their brand front and center as companies move through the “buyer journey.” They even use sophisticated methods to track companies’ online behavior throughout that journey to review every click, email open, or visit to a website or landing page.

Finally, many of the savviest companies rely on “inside sales” teams to either close sales or set qualified appointments. This is one of the biggest changes my Uncle Jack would notice; inside sales teams are cheaper and can focus on a single task, unlike higher-paid field sales representatives like Uncle Jack who have broader responsibilities.

Clearly, a new way is taking over. The sun is setting on the age of the generalist.

As the owner of a company that offers lead generation and appointment setting services, I’ve been following the changes in the sales process for close to 20 years. Each step has become vastly more complex, with the largest companies utilizing a slew of cutting-edge technology tools at each phase.

And as the founder of a once-small (and still not very large) business, I’ve watched in awe as the process has become increasingly sophisticated, automated, and specialized. It can seem impossible to keep up with what the biggest players are doing.

Generally speaking, there are four main challenges that hinder small businesses that are trying to modernize their sales operations:

Technology skill sets are hard to find
The sales landscape is constantly changing
A generalist can’t keep up with specialized sales teams
Everything’s expensive

So how can you overcome these challenges at each step of the way? Which phases of the sales process should you focus on to gain the most bang for your buck?

Each step is important, but I’ve identified three areas where small businesses can really excel—and may, in fact, have an advantage.

1. Lead generation

Lead generation should be your single biggest focus. Spend about 50% of your sales energy on generating leads, and I’ll tell you why. Every sales process starts with leads, and it’s crucial to have a trusted, reliable, and robust source of them in order to eventually convert a sufficient number into sales.

Broadly speaking, a lead is any company that might match your ideal client profile. Of course, there are dozens of vendors, paid directories, and software tools out there that will help create a perfect list of those companies—(or provide them up front, customized to the client’s specifications).

The costs of buying a list ranges from very inexpensive to a very large investment; likewise, the quality of those lists varies from almost unusable to excellent. Unless you’re a list expert, it’s difficult to know whom to trust.

Here, small businesses have a big advantage: we’re agile, and typically our team members are accustomed to being assigned multiple tasks. Most small businesses find that creating lists in-house is usually simpler, more predictable, and far more cost effective than purchasing a list.

Start off by doing some research. Googling terms like “top 100 manufacturing companies” or “all bakeries near me” can help you understand exactly what you’re looking for and keep you from pursuing any service or process that doesn’t provide exactly that.

Another option is to take full advantage of the “personal touch” of your small business. For instance, while you may not be able to sponsor a show or purchase an exhibitor booth at a trade show, you can still learn a lot by simply walking the floor. Stop by as many booths as you can; you could return home with the names and numbers of hundreds of qualified leads.

In addition to trade shows, networking groups remain a fundamental source of leads. Technology has made it easier to find these events than ever before. For instance, websites like meetup.com can help you quickly identify events that will attract companies in your target market.

Pay special attention to companies that aren’t direct competitors but also do business with your ideal client profile. You can leverage relationships with such companies into formal referral partnerships, which can really jump-start lead development.

There are some more passive lead generation techniques you should implement, too. You need a web presence that is consistent, professional, and compelling. Make sure your phone number is at the top of your website’s home page and that you include a form for people to respond to you.

A shrewd approach to blogging or posting on social media can significantly bolster the number of inquiries you receive through your website. Develop meaningful posts for Facebook, LinkedIn, Instagram, and Twitter that will drive interested prospects to your page. You can use the same or similar postings across many platforms to save time.

In particular, it’s crucial to use web analytics to monitor site visits so you can continually improve both the quality and quantity of leads that you capture organically.

Finally, CRMs (customer relationship manager systems) have evolved to the point where they can track everything—lead source, phone calls, emails, social media posts, and calls to action—that might inform you about a potential customer. Many CRM platforms offer tremendous functionality and include scaled-pricing models designed to fit most budgets. The best-known of these include Salesforce, VanillaSoft, and Microsoft Dynamics. If you’re on a tighter budget, you might consider looking into alternatives such as Pipedrive or Zoho.

Because it is both tremendously important and an area where small businesses can have a significant advantage, lead generation should be your single biggest focus. Working your sales funnel should be your second biggest.

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2. Moving prospects through your sales funnel

Once you’ve built a list of qualified leads, it’s time to start cultivating the relationships that will move them further along in your sales funnel. Spend about 25% of your sales efforts on this.

In the days of generalists, this is how Uncle Jack would spend most of his time. Today, though, he would probably work only the largest or most qualified leads. To save costs, many companies assign inside sales reps to work the phones, doing virtually anything Uncle Jack could do without ever meeting the client face-to-face. Leads are handed off to field sales reps only when and if needed.

There are all sorts of options for outsourcing your inside sales, but for a small business, it might be best to develop skills in-house. There’s a good chance that there’s already someone on your team who, with the right tools and training, could develop the expertise of an excellent salesperson. Maybe it’s even you! In fact, for most small businesses, the CEO is the primary salesperson.

Again, start by doing research. From books to blogs to interactive presentations, there’s a lot of material designed to help sales professionals hone their skills. The right sources will help you understand both the fundamental practices and underlying concepts of effective selling.

If it all starts to feel overwhelming, don’t be afraid to ask for help! There are lots of sales coaches out there. Find one who you can connect with emotionally. Even just two or three individual consultations could make a huge difference.

In a complex sales environment, the key to working your pipeline is attention to detail. From practicing your pitch and knowing how to respond to questions or objections to understanding how the inflections of your voice or your facial expressions affect the impression you leave on your prospects, every detail is important in sales.

But as the buyer decision-making processes change, it’s increasingly important to supplement your “soft skills” with subject-matter expertise and all-around knowledge of your offering. If you are the CEO and salesperson, you probably already have this knowledge. If you delegate selling, make sure to provide this knowledge to the person closing your sales. From CFOs to IT or HR directors, every persona involved in a prospect’s purchasing process is likely to approach you with concerns related to how your product affects them. You need to be ready to respond to a myriad of questions.

Finally, it’s worth looking into a videoconferencing platform such as Zoom or GoToMeeting. Videoconferencing makes it easier than ever to have face-to-face sales conversations—and share your screen—without even leaving your office. Once you find a product that you’re comfortable with, it will be well worth the small subscription fee.

But even after you’ve closed a sale, your relationship with the client isn’t over! Another crucial phase is the one that comes after closing: onboarding and retention.

3. Onboarding and retention

The old saying still applies: It’s easier and less expensive to retain an existing client than it is to sell a new one.

In reality, retention efforts begin during the sales process. We’ve learned that customer loyalty is greatly shaped by a buyer’s experience well before a deal is signed. Still, at the moment a new client makes a purchase or signs a contract, you need to be focused on retaining that client. Allocate 25% of your sales efforts—yes, this is part of the sales process—to retention.

Especially if your offering requires extra time or staff training to implement, it’s important to communicate regularly with clients during the onboarding phase. Your ability to be available, knowledgeable, and transparent will result in satisfied clients.

And satisfied clients don’t just enable you to upsell or cross-sell to your customer base. They also give referrals, a valuable source of high-quality leads for any small business.

Meanwhile, dissatisfied clients can be disastrous. Like you, your competitors are using increasingly advanced tools and techniques to target customers. Moreover, with most potential customers doing online research, a few bad reviews can tarnish your reputation, significantly stalling or reversing growth. It’s important to check in on your customers periodically to make sure you can address any issues before they get too frustrated.

This is another area where the right CRM can be hugely helpful—staying in touch with everyone requires a sophisticated system of organization and many CRM systems can automatically set reminders and help you track the progress and user experience of all your customers.

But of course, these tools should be used to enhance—not replace—personal, one-on-one interactions. Keep your focus on interacting with as many customers as you can, whether through personal phone calls, personalized note cards, or onsite visits. The human touch goes a long way!

Conclusion

No longer the responsibility of “generalists” like my Uncle Jack, the business of sales has become big business. On the surface, this shift also seems to benefit big businesses disproportionately. After all, large companies have lots of options when it comes to building—or buying—the required expertise; indeed, entire industries have evolved to support each specialized step.

But the reality is smaller companies still have some advantages. Though we, as small businesses, may lack the resources of larger competitors, we often have more tight-knit, malleable teams and are generally more aware of the strengths and weaknesses of individual team members.

As a small business owner, you can take advantage of those strengths to determine exactly what you can handle in-house, what needs to be outsourced, and what processes may not even be necessary.

Remember, focus 50% of your efforts on ensuring you have a steady, reliable flow of new leads. Work your leads through the sales funnel, nurturing those that are not yet ready to purchase. Then, extend your selling process well after your clients have purchased throughout the lifetime of each client.

In a world without salesmen like my Uncle Jack, that’s how you can get the most bang for your buck!

About the Author

Post by: Valerie Schlitt

Valerie Schlitt holds an MBA from The Wharton School; she started her business career at American Express and also has worked at Travelers, CIGNA, PricewaterhouseCoopers, and KPMG Consulting. After a successful corporate career in marketing and consulting, she created VSA in 2001, a high-end B2B lead generation and appointment setting firm with more than 100 employees. VSA is thrilled to have been named a“Best Places to Work 2018” by the Philadelphia Business Journal.

Company: VSA, Inc.
Website: www.vsaprospecting.com
Connect with me on Facebook, Twitter, and LinkedIn.

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14 Ways to Improve Your Product Pitch to Clients and Investors

To improve your pitching technique—which, in turn, will give you more confidence—we asked successful entrepreneurs from Young Entrepreneur Council (YEC) the following question:

Q. What is the best approach for practicing your pitch for investors or potential clients, particularly if you’re not feeling confident?

1. Do your homework

2. Practice the pitch 100-plus times

3. Talk in front of a mirror, then friends

4. Build rapport

5. Prepare for unexpected questions

6. Time yourself

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7. Record yourself

8. Practice positive self-talk

9. Know your pitch by heart

10. Make sure it’s engaging

11. Hire a speaking coach

12. Hire an editor

13. Involve storytelling

14. Build a list of 100 investors

The post 14 Ways to Improve Your Product Pitch to Clients and Investors appeared first on AllBusiness.com

The post 14 Ways to Improve Your Product Pitch to Clients and Investors appeared first on AllBusiness.com. Click for more information about YEC.

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A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready?

Law affects non-California businesses, too

Your annual gross revenue is more than $25 million.
Your organization receives, shares, or sells personal information of more than 50,000 individuals.
Your company earns 50% or more of its annual revenue from selling personal information of consumers.

Don’t meet the criteria? Many states are using the CCPA as a template to draw up their own acts. It’s just a matter of time before privacy regulations affect your business.

Giving consumers power over their data

Businesses must inform consumers of their intent to collect personal information.
Consumers have the right to know what personal information a company has collected, where the data came from, how it will be used, and with whom it’s shared.
Consumers have the right to prevent businesses from selling their personal information to third parties.
Consumers can request businesses to remove the personal information that the business has on them.
Businesses are prohibited from charging consumers different prices or refusing service, even if the consumer exercised their privacy rights.

Other Articles From AllBusiness.com:

Don’t wait—prepare now

Evaluate your current capabilities by identifying and classifying personal data.
Take a look at your data-governance capabilities.
Create a strategy to monetize data in a way that meets CCPA privacy regulations.
Take stock of your privacy controls, keeping an eye out for gaps in meeting CCPA requirements. Then prioritize the processes and technologies that need to be updated.
Be proactive and set up a CCPA program management office to handle regulations accountability, remediation, and implementation.
Implement regulation monitoring procedures to ensure your business continues to be in compliance over the long run.

Businesses will benefit too

The post A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready? appeared first on AllBusiness.com

The post A New California Privacy Law Could Affect Every U.S. Business—Will You Be Ready? appeared first on AllBusiness.com. Click for more information about Brenda Stoltz.

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Fall in Love With Your Car Again Without Breaking the Bank

Should You Use Credit Card Rewards to Fund a 529 College Savings Account?

The Best Days to Book a Flight and When to Fly

Earn Double Points on Southwest Flights Within California

United Airlines Bag Fees: How They Work, How to Avoid Them

How to Make the Most of United’s Basic Economy

How to Bypass ATM Fees While You’re on the Road

4 Smart Ways to Split Bills With Friends While Traveling Abroad

5 Things to Know About the PenFed Power Cash Rewards Card

Sin City on a Budget: How to Save on Your Next Trip to Vegas

Who Gets Your Digital Assets: Heirs or Hackers?

Wednesday, August 28, 2019

United Miles No Longer Expire: What This Means for You

How to Earn the Sign-Up Bonus on the Southwest Rapid Rewards Premier Card

AmEx Cardholders Get Access to Exclusive Lounges at US Open

5 Award Sweet Spots in Alaska Airlines’ Mileage Plan Program

Streamline Your Skin Care to 3 Proven Products and Save

How Student Loan Fees Work and What They Cost

Are You Paying for Someone Else’s Mistakes? This Company’s Mix-Ups Could Be Scrambling Your Finances

This Company’s Errors Can Derail Finances. Here’s How to Protect Yourself.

Tuesday, August 27, 2019

Do Your Credit Moves Send the Wrong Signal About You?

5 Award Sweet Spots in the Flying Blue Program

Mutual Fund Calculator: Find What Fees Will Cost You

Can You Refinance Sallie Mae Student Loans?

How to Make the Most of Delta’s Basic Economy

Chase Unveils Special Bonus Offers for Freedom, Freedom Unlimited

Mapfre Insurance Review 2019: Complaints, Ratings and Coverage

British Airways Visa Adds Award Surcharge Credit, Other Benefits

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The Secret to Effective Business Networking

I’ve been attending local networking events as long as I’ve run my content marketing agency (so, 13 years). I’m aware that trying to sell yourself isn’t the general concept behind networking, that it’s better to build relationships over time rather than “machine gunning” your business card to everyone in the room. And believe me: I’ve seen people do that, and it never goes well.

But it surprised the heck out of me to get advice about networking from none other than my mother recently. I was complaining to her that work had been slow this summer, and she suggested I try out her “Mamma Networking Theory.”

Asking her to elaborate, she told a story about how my brother, recently graduated from high school and without contacts in the Arkansas town we had just moved to, was struggling to find a job. Our mother told him he needed to know someone to get a job. She encouraged him to ask any and everyone he could for leads, and she did the same. Apparently, the parents of a friend of mine owned a cleaning service, and when my mother told them that her son was looking for a job, they ended up hiring him.

Her point was: If you don’t ask, you can’t get what you want. And you never know who might have what you’re looking for unless you ask.

Applying the “Mamma Networking Theory”

I grumbled after reading her email because I felt like if I told people business was slow, I’d look like a failure. There’s this weird patina that entrepreneurs wear sometimes to seem like they’re more successful than they are so potential clients flock to them. Tell people you’re having a fire sale on marketing and they’ll flee, or at least that’s what I thought.

I decided to reframe my thinking. Rather than, “Hey, I’m broke. Got any work for me?” I decided to change my wording to, “I’m taking on new clients. Do you know someone I can help?”

I did this with several clients I’m close to, and some said they had more work they could pass on to me. Score.

Armed with this new attitude, I headed to my community business association mixer. I’ve been attending these events for years, so I know most of the people there. Relationship building? Check!

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I chatted with the office manager of the association and mentioned that years ago I’d pitched his boss about helping with social media management. My assumption was that they were doing it in-house and didn’t need help.

“You should talk to him,” he told me.

Fueled by that encouragement, I sauntered over to the director of the program. “Hi, Scott. Several years ago, I wanted to help you with your social media. I’d like to extend that offer again if you’re interested.”

Within seconds, we’d agreed to meet to discuss it. Bam. A few days later, I’d signed on the company as a new client. Had I not asked, I wouldn’t have received.

How to get what you want in business

Of course, there is a fine line between doing networking right by being a valuable member of a business community and asking for business. You need to know your audience and genuinely want to help them, not just rake in more revenue. I knew a few of the pain points of this business with regards to social media, so I was able to quickly offer free advice on how they could improve. That usually works one of two ways: They take your advice and “DIY” it, or they’re so impressed with your vast knowledge that they hire you. My free advice got me the latter.

So what do YOU want in your business? Are you asking for it? If you want more sales, talk to people at networking events about the area you specialize in. If you’re an accountant, ask if they manage their own accounting software and invoices or have a professional they work with. Ask what pain points they have. Even if they’re not in the market for an accountant, you may still be able to provide useful tips they’ll be glad to have, and you never know who they know they can refer you to.

When you leave the conversation, if it’s not turning into a meeting or a sale, you can ask, “Do you know anyone I might be able to help with XYZ?” This gets them thinking about their own circle, and they may have someone who is looking for exactly what you offer! By the way, I’m trying this approach in dating, asking friends if they know any amazing men that are good enough for me! Stay tuned on that.

And in general, people do business with the people they know. A lot of the events I go to center around having a beer and nibbling on appetizers while we talk about what’s happening in the community. Even if we don’t discuss business, these are the people I turn to for web design, massage, and dining out because I have relationships with them and want to support them. If you’re an active and helpful member of your community, people will do the same for you.

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Sunday, August 25, 2019

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How to Succeed With a Motel Business

By Bruce Hakutizwi

How is your motel business performing? Industry statistics suggest that you should be, on average, close to 70% occupied throughout the year. Whether you’re achieving these rates or not, there are many ways you can further boost your motel’s success.

The hospitality industry is doing well in the United States with total revenue at $206 billion. And as the industry continues to grow, so are the number of hotels, motels, and inns opening for business. With over 100,000 lodging properties currently operating, how can you make your motel stand out from the crowd?

To compete in this industry and surpass consumer expectations, motel owners need to ensure they stay on top of the latest hospitality trends. Here, we identify six ways to make your motel business stand out and how to cater to today’s guests.

1. Build an experience

A study conducted by the School of Hotel Administration at Cornell University wanted to uncover what guests truly care about when staying at a hotel or motel. According to the study’s findings, guests value comfort, cleanliness, and service above everything else—even over location and amenities.

To run a successful, modern motel, you need to focus on what your customers prioritize the most: the experience. Invest money in areas that can enhance their experience, like purchasing higher quality linens and mattresses, or qualified employees who can deliver excellent customer service.

2. Advertise both online and offline

Don’t underestimate the power of Google My Business. This tool expands your business’s visibility where it matters most: in search results. Typically, your target consumers will look online using location-based queries when browsing for a place to stay. Having your business’s information readily available for potential visitors to find in local search results is crucial. Plus, a Google account has a variety of other beneficial functions, such as providing geo-markers on Google maps to pinpoint your location, a library of images, and guest reviews.

At the same time, you should be investing in traditional marketing tactics, such as out-of-home (OOH) advertising. Speak to your customers at their exact moment of interest by advertising alongside popular highways on road signs, billboards, and exit signs that are close in proximity to your establishment.

3. Create a fully functional website

Businesses earn trust and credit through their online presence, especially their website. Design your website with your guests in mind, and focus on the user experience. This means ensuring that your site offers relevant and valuable content, is easy to navigate, quick to load, and compatible with a variety of devices,

Recent research shows that 48% of consumers research, book and plan for trips with their smartphone, so having a site that is mobile-friendly is a must. Keep in mind that being mobile-friendly implies more than just fitting-to-screen, but actually being optimized specifically for mobile use. In addition, approximately one-third of consumers admit to forming a negative opinion on a brand if their mobile experience is slow.

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4. Offer direct online booking

Can you easily transform lookers into bookers? Offering direct online booking options can significantly increase your occupancy rates. Everything from your Google account, website, and even social channels should include a booking functionality, which has a clear call-to-action button that leads to a seamless and simple reservation process.

Finally, you want to broaden your reach by partnering with popular travel sites such as Trivago, Booking.com, and Expedia. This allows you to advertise your business on a trusted platform and gain additional views and potential reservations.

5. Leverage user-generated content

In a society where the majority of consumers trust the opinion of strangers behind a screen as much as a personal friend, it’s important to consider your business’s online reviews. Encourage your guests to leave comments and share their experience. With the average consumer reading 10 reviews before being able to trust a business, it’s better to have more feedback than none at all.

In addition to supporting feedback, you should be acknowledging responses as well. Nearly 90% of consumers admitted to reading business’s responses to reviews. It is crucial that you address and respond to all comments, both good and, more importantly, bad.

6. Modernize the look and feel

Motels sometimes have a reputation of being old fashioned and of poor quality. Modernizing your motel can help breathe new life into your business and attract new and returning visitors. For instance, investing in a fresh coat of paint or updating furniture can go a long way in rejuvenating your motel.

In additional to revamping the look, you should also update the technologies. Consider getting faster-speed internet and a better Wi-Fi network. Free Wi-Fi is one of the primary deciding factors for consumers choosing a motel or hotel, so it is critical to offer this pivotal service.

Running a motel can be an attractive business opportunity for entrepreneurs; however, to be successful, your motel has to be brought up to speed with current consumer behaviors and preferences.

About the Author

Post by: Bruce Hakutizwi

Bruce Hakutizwi is the Manager of Dynamis, Ltd., parent company of BusinessesForSale.com, a global online marketplace for buying and selling small- and medium-sized businesses. With more than 60,000 business listings, it attracts 1.4 million buyers every month. Bruce manages business development, content building, client acquisition, and customer retention in the United States, Canada, South Africa, and Europe. Bruce frequently writes on topics that promote entrepreneurship and small business ownership. If you are interested in learning more about the hospitality industry, visit BusinessesForSale.com for insights on how to buy, sell, or run a prosperous motel business.

Company: Dynamis, Ltd.
Website: us.businessesforsale.com
Connect with me on Facebook, Twitter, and LinkedIn.

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How to Get Into the Delta Sky Club Before Your Flight

The Secret to Effective Business Networking

Her point was: If you don’t ask, you can’t get what you want. And you never know who might have what you’re looking for unless you ask.

Applying the “Mamma Networking Theory”

I decided to reframe my thinking. Rather than, “Hey, I’m broke. Got any work for me?” I decided to change my wording to, “I’m taking on new clients. Do you know someone I can help?”

I did this with several clients I’m close to, and some said they had more work they could pass on to me. Score.

Armed with this new attitude, I headed to my community business association mixer. I’ve been attending these events for years, so I know most of the people there. Relationship building? Check!

Other Articles From AllBusiness.com:

“You should talk to him,” he told me.

Within seconds, we’d agreed to meet to discuss it. Bam. A few days later, I’d signed on the company as a new client. Had I not asked, I wouldn’t have received.

How to get what you want in business

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2 Shortcuts to Starting Your Own Business

Are you dying to start a business–now? Entrepreneurs are impatient by nature, so going through all the steps required to start a business—from writing a business plan to finding a location and applying licenses and permits—can be sheer agony for many.

There are two shortcuts to starting a business that can put you in the driver’s seat fast. Buying an existing business or buying a franchise are easy ways to start a business compared to starting up from scratch. Here’s what you need to know about both of these options.

Startup shortcut #1: Buying an existing business

When you start a business from scratch, you have to do everything from finding a location and identifying suppliers to developing a brand and hiring employees. When you buy an existing business, many of these steps are already handled for you. Another plus: Since an existing business has a track record and assets, it’s often easier to get a loan to buy an existing business than it is to get a loan to start a business from scratch.

Before you start looking for businesses to buy, identify your skills and interests and what industry you’d like to go into. You can get an idea of the types of businesses for sale by searching on BizBuySell: With 45,000+ listings of businesses for sale at any given time, it will give you plenty of options. Is there a specific business in your community that you’re interested in? Reach out to the owners and see if they are open to the idea of selling—you never know!

What to ask before you buy a business

Once you’ve identified some potential businesses to buy, do your due diligence to dig up any problems with the business and make sure it’s worth the asking price.

Find out why the owner is selling. Are they retiring or moving? Or is there a problem with the business (such as a declining customer base or a “cursed” location) that makes them want to unload it?

What business assets will you be purchasing (such as equipment, real estate or inventory)?

Who are the key employees? If they are essential to the business, you’ll want to make sure that they will stay with your business after the purchase.

What type of brand recognition does the business have? Investigate the business’s online reputation, including online reviews, social media and the Better Business Bureau, to see if the business has a positive image.

Review all the business’s financial information, including bank account statements, receivables/payables, and at least three years’ worth of financial statements and tax returns. Find out if there any outstanding loans, liens or lawsuits.

Look at existing licenses, permits, contracts, trademarks, and other legal documentation to make sure everything is in order. If there’s intellectual property involved, make sure it is part of the sale.

Is seller financing available? Making payments to the seller over time can be a more affordable way to pay for a business than taking out a loan.

A business broker can help you find businesses for sale and negotiate a price. This is a complex purchase with several risk factors, so you should also have your accountant review the business’s financials once you get serious, and have an attorney review the contract before you sign.

Startup shortcut #2: Buying a franchise

In a franchise system, a parent company, the franchisor, creates a method for operating a business and sells licenses to franchisees allowing them to start their own location of that business. Franchisees pay a fee to buy into the franchise and use its name, trademarks and systems; they also pay ongoing fees and royalties during the life of their business.

As a franchisee, you’ll be responsible for opening your own business, but you will have the guidance and support of the franchisor to help you both during and after launch. This makes buying a franchise one of the best shortcuts to starting a business.

McDonald’s is probably the most famous franchise—and also one of the most expensive. However, you can find franchises for under $10,000 if you are on a low budget. The International Franchise Association (IFA) website, Franchise Gator and Franchise Direct are good places to look for franchise opportunities. These sites also have information about franchise trade shows, where franchisors promote their opportunities to attendees. Attending a trade show is a great way to learn about lots of franchises fast.

Once you express interest in buying a franchise, the franchisor is legally required to give you a Franchise Disclosure Document (FDD), and at least 10 days must elapse between getting this document and signing any purchase agreements. The FDD is a massive document that includes the background of the key players in the franchise, any bankruptcies or lawsuits of the system, initial and ongoing costs, financing options, territory and intellectual property information, what assistance the franchisor provides to franchisees (such as marketing, training, discounts on inventory or supplies, etc.), and the franchisor’s audited financial statements.

There are also names, addresses and phone numbers for both current and former franchisees. Make it a point to contact some of these and find out what they like and dislike about the franchise and, for former franchisees, or why they left the system.

What to ask before you buy a franchise

When reviewing a potential franchise, ask yourself:

Are the financials solid? What is the background and experience of the people in charge? Does this franchise seem like it will be around the long haul?

What type of assistance is provided? Is that assistance worth the initial and ongoing costs?

Does the franchise have a recognizable brand? A big part of what you’re paying for is being able to open a business that people are already familiar with.

How well does the franchisor restrict competition? You want to make sure that another location of the same franchise won’t open down the block from you the month after you open for business.

Well-established franchises are often expensive because they have time-tested systems and strong name recognition. New franchises can be more affordable, but may lack the brand recognition and systems of an older franchise.

You can learn more about how to buy a franchise at the Federal Trade Commission (FTC) and IFA websites. As with buying any business, an accountant and an attorney can be invaluable in helping you review the financial aspects and fine print of the franchise agreement.

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Don’t shortchange your startup

I know you’re impatient to start a business—but even buying an existing business or franchise takes some time. There’s no “quick fix” for business ownership, so don’t expect to snap your fingers and have a ready-made business at hand.

Starting a business requires research, planning and hard work, no matter which route you take. Sure, you can take a few shortcuts to starting a business—but don’t shortchange your startup by trying to take too many.

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