Mistakes are a natural part of being human. After all, we have to make mistakes in order to learn from them. Yet, learning from others mistakes can help us avoid having to suffer the consequences instead of having to make them oursleves.

The most successful businesses are the ones that observe and take notes from their predecessors. To help increase your chances of success, here are some of the most important things that you should lookout for as an entrepreneur.

Expanding Too Soon

A lot of business owners have dreams of being an overnight success. And while this may seem exciting, the truth is that growing too quickly can be incredibly dangerous. It’s easy to lose track of your finances, and find yourself with too much incoming work without the manpower to handle it.

Many business owners choose a sale leaseback with the intentions of opening up new locations, only to find that they’re in way over their head and their business implodes.

Before you make any big moves, make sure that you know your numbers inside and out and have the data to prove that you’re capable of taking your business to the next level, otherwise it could be disastrous.

Setting Prices Too Low

It’s natural to want to set competitive prices that set you apart from other businesses. When you offer low prices, it’s almost impossible to make a profit. It’s important that you conduct enough market research so that you price in a sweet spot rather than too high or too low.

Believ it or not, people are willing to pay a higher price assuming what you offer is high quality. Focus on being the best at your industry and people will pay the price you ask for it.

Not Anticipating Taxes

A lot of new business owners aren’t prepared for the tax liability that comes along with their business. As such, they find themselves hit hard when April comes and they realize they owe much more then they thought. The best way to stay on top of tax time is to pay quarterly rather then yearly. Stay familiar with how much you owe as the year goes on, from state taxes to industry specific ones, so that you aren’t hit with any expensive surprises.

Not Hiring The Right Staff

Many new business owners are so concerned with staffing as quickly as possible that they skim over the hiring process. However, even though it may be time consuming to find the perfect fit, you’ll end up saving more money in the long run. By choosing employees that you can rely on, who are highly qualified, your have a much higher employee retainment rate, and ultimately create a better image for your business.

 

Running an online business can be surprisingly easy. You can manage everything from the comfort of your home, and costs like rent are not necessary. Yet, there are still mistakes that can cause the business to fail. One of the most common issues is a lack of good customer service. Your customers are the lifeblood of your business, so it’s important to keep them happy. Here are four customer service tips for your online business.

Deliver Goods Undamaged

It’s very easy to focus on fast delivery and neglect the condition of the product. A huge part of customer service is delivering what your customers pay for and your customers will not be happy if they receive a damaged product.

Luckily, this can easily be ensured. The best way to ensure safe deliveries is to hire a professional freight unloading service to handle things. This way your products will arrive at their destination in one piece and without any damage.

Alternatively, you can also take some preventative measures yourself, such as packing the items securely and using a tracked shipping service.

Respond Quickly to Customer Inquiries

When a customer contacts you, they expect a quick response. If you take too long to get back to them, they may go to your competitor.

You can guarantee quick responses by:

• Using a chat robot. A chat robot can answer common questions quickly and efficiently.
• Hiring customer service representatives. This is a more expensive option, but it will ensure that someone is always available to answer customer inquiries.
• Automating responses. Similar to a chat robot, you can use an autoresponder to send a pre-written response to customer inquiries.

Keep Customers Informed

One underrated way to provide good customer service is by keeping your customers informed.

If you have a website or blog, make sure to post updates regularly so your customers know what’s going on with your business. You can also use social media to keep them updated, and to answer any questions they might have.

Or, you can send weekly or monthly newsletters to update them on new products, services, or deals you are offering.

Here are some communication tips:

• Make the writing personal, as if you are speaking to a close friend.
• Be clear and concise.
• Use a friendly, yet professional, tone.
• Avoid using jargon or technical terms.
• Make sure to proofread before sending.

Offer Discounts and Coupons

There are few things customers like more than a bargain, so offer discounts and coupons to sweeten the deal. You can promote these offers on your website and social media channels, or send them out via email to your subscribers.

Just be sure to make the terms and conditions clear, so there are no surprises down the line.

Some ideas include:

• First purchase discounts.
• Bulk purchase discounts.
• Loyalty program coupons.
• Seasonal promotions.
• Random giveaways.

Running an online business is no easy feat. There are a lot of moving parts, and you have to be able to wear many hats. But by following these four customer service tips, you can set yourself up for success by having customer service at least figured out.

Business owners know as well as anyone that saving money is always a priority. Running a business isn’t cheap, and you need a healthy flow of dough to keep everything operating without issue.

Finding solid ways to cut back on costs will give you a financial advantage over the battle you’ll face in the first few years of starting a new business. Take a few moments now to check out a brief compilation of some helpful ways to save your business some money.

Utilize digital marketing to the max

Traditional marketing can be a bit more pricey than digital marketing methods. Some digital marketing outlets are even free if you do the content work yourself. Either way, digital marketing is much more affordable and more effective than traditional marketing methods.

Use your website to boost your visibility online, and consider adding a blog to your pages as well. A good blog can do a lot to draw interest from web users. Check out how this unloading service blog does a great job at relevance and education regarding the industry.

Consider remote work for your employees

Remote employees don’t cost your business nearly as much as it does to maintain an office space. Remote employees use their own hardware, and they don’t have to rely on your business to provide a safe and comfortable space for them to operate.

Even if you can’t take your business completely remote, you may benefit from offering remote opportunities. Consider the various ways in which your business could work in remote operations, and create a way for your business to save some money along the way.

Outsource jobs whenever it’s efficient

Outsourcing various elements of your operation to other capable businesses or individuals could also help you save some money on operations. Setting up a digital marketing campaign is a good example of where you can use outsourcing to cut costs.

You can outsource your digital efforts to a professional agency that specializes in that particular field of business, so you don’t have to worry about the issue or use any of the valuable time of your employees to get the job done.

Negotiate with your vendors

If your business works with various vendors to operate effectively, you do have the ability to haggle a bit with those resources. Vendors are not strangers to negotiations, and you can probably work something out to make the connection more beneficial for you both. You never know until you try.

Always work with a detailed budget

Overall, it’s a lot easier to save money for your business when you work on a budget. Make budgeting a priority in your business, and take the necessary steps to make sure your spending sits within the boundaries set by your budget.

 

Few could ignore the protests that surrounded UK’s finance day on November 2nd, which threatened to overshadow COP26. Green activist groups were protesting against ‘greenwashing,’ frustrated that the public has been misled about the success of green initiatives. 

Rishi Sunak made a speech in which he promised multi-trillion-dollar commitments. He said all the right things and even suggested that he would put the required pressure on the private sector. Surprisingly, he even said that the government would financially contribute more readily to green initiatives in developing countries. He then went on to avail that the United Kingdom would become the first Net Zero Aligned Financial Centre. What does this mean? In a nutshell, all financial institutions in Britain will soon be required to achieve net-zero emissions. Ambitious? Yes. Achievable? Perhaps.

His speech wasn’t warmly received by everyone, with a Net Zero Asset Managers report essentially suggesting that the gestures made by Sunak weren’t as they seemed. Specifically, the report highlighted that a bit of digging is enough to show that the numbers are misleading. As the UK continues its recovery from the pandemic, it’s not evident where the money will come from to fund climate change initiatives.

A commitment to net-zero 

Bringing our carbon emissions to net-zero won’t be cheap. However, it’s definitely cheaper than dealing with issues arising from climate change. For context:

• The UK has suffered to the tune of £300 billion due to the pandemic.
• Estimates indicate that the cost of getting the UK to net-zero would cost £1 trillion over 20 years.
• If the government doesn’t take any action, the cost is likely to be nearer £2 trillion to deal with climate change.

Officials at COP26 made it clear that preventative measures must be taken as soon as possible. But what does the UK government think? Rishi Sunak highlighted the following:

• 80% of the planet’s economy is committed to carbon neutrality or net-zero.
• The UK has promised $100 billion to support developing countries with reaching net-zero.
• An additional £100 million has been pledged to the Taskforce on Access to Climate Finance.
• Mandatory sustainability disclosures will be created to hold the private sector to account.

What the chancellor omitted from his speech 

Despite his grandiose pledges, Rishi Sunak omitted one essential aspect from his speech: how on earth will the UK government achieve these targets? The financial sector is hardly squeaky clean when it comes to pledges and ignoring loopholes, so there’s a lot still up in the air about how things will play out. Given that so many governments are failing on targets laid out by the Paris Agreement – due primarily to Covid-19 – it begs the question, how will this be any different?

Activist investing brings hope to the table 

While the government’s announcement that they will pressure the financial sector is welcome, it’s not enough. For real, lasting change, investors must pressure their companies from within and develop metrics that can be tracked and evaluated. This is where activist investing has such an important role to play. It forces companies into action and necessitates compliance with key ESG initiatives.

Activist investing platforms like Tulipshare are already doing what they can to drive change from within. This collective approach to investing is undoubtedly a step in the right direction, at least where holding the government and private sector to account is concerned.

For many companies, having a business card seems essential. It makes paying for materials, office supplies, and other operational expenses much easier. But if you have poor credit, you may wonder if you can even get access to a business card. The short answer is yes!

There are plenty of top business credit cards for business owners with no or poor credit. You just need to know where to look and how to find them.

How to Find the Right Business Card With Bad Credit

If you want to find a business card that accepts you with bad credit or no credit, it is as simple as knowing where to look.

Some Great Suggestions

We have two great suggestions for top business credit cards for those with poor credit or no credit. These are Capital One Spark Classic for Business and the Wells Fargo Business Secured Credit Card.

Capital One Spark Classic for Business has a 26.99% variable APR interest rate and no fees. Just keep in mind that it requires a credit score of at least 580. If your credit score is lower than this, consider the second option, the Wells Fargo Business Secured Credit Card. There is also no annual fee, and because it is secured, you can get it with nearly any credit score. However, you will have to deposit into the account to use the card.

Be Prepared for Higher Fees or Interest Rates

There is one important caveat. As with personal credit cards, business credit cards are more likely to have higher interest rates or annual fees if you have poor credit. So, don’t be surprised.

Alternatively, you can look for a secured credit card for your business. These function like any other secured credit card, requiring you to pay a deposit upfront. As a bonus, a secured card is an excellent way to build your business credit.

How to Build Your Credit

As mentioned, a secured credit card can help you build your business credit, but there are also other things you can do. Just establishing your EIN will help boost your business credit score. This is also important as it separates your business and personal finances.

You can also try applying for a credit line with your vendor if you can’t find a credit card yet. This is an alternative with a similar result, and it helps you build your credit. You could also try getting a small loan for working capital.

Finally, be sure to regularly check your business credit report, just like you would your personal one. This lets you ensure there are no errors that could be bringing the score down lower than it should be.

Conclusion

Just because you have bad credit or no credit, that doesn’t mean that you won’t have access to any top business credit cards. While your options will be limited, there are still some great choices. The only caveat is that you’ll have a higher interest rate or need to use a secured card. You also don’t want to rule out alternatives, such as a line of credit with your vendor or a working capital loan.

Whether your blog is your entire business or just a facet of your business, if you want to experience any kind of growth in this area, you’ve got to learn how to market your blog and use your blog as a marketing tool for the rest of your business.

To help you see how this can be done, here are three ways you can make your blogs more of a marketing tool.

Blog With A Plan

The very first thing you’ll need to have in order for your blogs to be beneficial for your business is to blog with a plan. Without a plan, both from a creation standpoint and a marketing standpoint, you can’t hope to have your blogs work to accomplish any of your goals.

To help you in blogging with a plan, you’ll need to consider what type of content you want to include in your blog. Then, you can plan out when you’ll write what content and how you’ll incorporate things like products, sales, holidays, and more into your content marketing ideas. Additionally, you’ll also need to plan how often you’ll be blogging and what you plan to do as far as promoting your blog posts. Without having all of these things planned and prepared for, things are bound to fall through the cracks.

Spend More Time On Your Headline And Images

It’s not only the written body content of your blogs that you need to be worried about. In fact, it’s been suggested that people spend about 80 percent on their time working on the headline and the last 20 percent on the actual body content.

While this might seem like a lot to you, the idea behind it is that no one is going to want to click through to your blog if your headline doesn’t entice them onwards. And along the same line of this, you’re also going to need to spend time finding or creating beautiful images to accompany your content, since the visual aspect of blogs can have a big impact on your readers and visitors.

Write Content With SEO In Mind

As you craft the actual content for your blogs, one thing you’ll want to keep in mind is that you should be writing with SEO in mind. When you’re able to do this, your content will automatically become more of a marketing tool, as it will cast your blog in a positive light online and help people more easily find you. So make sure you’re doing things like using the right keywords, doing solid internal linking, compressing your images, and posting with a mobile-friendly theme.

If you’re wanting your blog to work a little harder for you, consider using the tips mentioned above to help you make some changes that will have your blog being more of a marketing tool.