Posts

People working in modern agency relaxing during lunch break
In 2018, the universe is a very different place than it was just a year ago. Variation swept across the world, majority movements augmented, and trade settlements were annulled. And commodity, currency and asset prices oscillated unpredictably and the probability for major policy shifts flustered markets. At the same time, technology continues to disrupt whole businesses, raising future apprehensions about employment, productivity, and global growth. A vigorous economy demands a balance of small as well as large firms. In innovative economies, Small and Medium sized Enterprises (SMEs) typically generate more than half of GDP. They regularly produce fresh ideas and innovation by consistent bookkeeping and fresh approaches to old ideas. Start-ups, though, represent just a small proportion of SMEs. In fact, numerous SMEs are long-established family businesses or are managed by the founder and owners to attain personal objectives beyond stockholder return. Small companies—not big businesses—are the largest employers in most countries and their prominence is expected to increase as automation remains to threaten routine occupations and countries fight to accomplish full employment.

The World According to SMEs

Because of their smaller size, SMEs are naturally more susceptible to improbability than larger, more recognized firms. So it’s no astonishment that financial uncertainty (37%) and political uncertainty (15%) signify the top apprehensions for SMEs worldwide.

SME Strategies for Success

SMEs are reacting to insecurity by emerging effective strategies that build their economical strengths. They are also evolving policies and bookkeeping techniques to build from this strength and expand into new local and export advertises.

Strategies to Form Economical Strength

SMEs are prioritizing four parts critical for future achievement:

 ■ Applying technology

 ■ Agility

 ■ Augmented innovation

 ■ Appealing and retentive talent

While large businesses also focus on these stratagems, SMEs hold distinctive advantages in each of these areas which they can exploit to toughen their market position. SMEs are already assured in their competences in these four areas and plan further improvement in the coming years.

Planning

Research your opponents and your marketplace but try to think about the market as physical people. Develop a detailed understanding of the people you want to trade with and the problems they face. E-Consultancy is a fantastic source for advertising data, such as reports on how different customers act online, meaning you can direct your publicizing efforts in the accurate areas.

Set Aims

This isn’t a limited-edition job. Set purposes for every bit of advertising you do and give very specific timings and measurements of success. For example, your website’s success may be measured by how it produces inquiries or sales. Give your published work specific goals, too, such as driving traffic to your website through a specific “search for” call to action. Don’t be shy about speedily evaluating through bookkeeping and adjusting things in order to keep on track for your aims.

Get to know some local suppliers

Local industries might be able to service you much better. And they’ll always know other people who can help you, too. Don’t be scared of inquiring penetrating questions about their facilities either. You need to know that you’re spending money with trustworthy companies that can verify their outcomes, quality and delivery times. Consider your expenses cautiously and map each bit of money spent to a specific consequence.

 Become a professional

Social interacting is perfect for launching yourself as an expert in your arena. Give high value content and instruction away to help your ascension to “expert” status. Generate a policy for releasing content and set up a blog as a medium for this release.

Conclusion

Overall, remember that advertising is one of the more fun features of running a business – eventually it’s about telling individuals how great your business is – but don’t try to do everything at once. The best methods to recover return on strategy are to start where you are and gain assurance in the procedure. If the method needs modification, then add as needed.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Entrepreneur with group of celebrating business partners in office with bright windows in background
The following are a few strategies to increase the sales of a small business.

Spend time carefully

A common concept is that money is the asset for small business owners but, in fact, time is the real asset. If you lose money due to any reason, it will come to you one day if you work hard. What cannot come back is the time you have once wasted. So, spend your valuable time carefully on activities that really make a difference for your business.

Many small business owners spend a lot of time at trade shows and exhibitions to increase exposure and, ultimately, sales. They collect hundreds of cards from people who seem to be interested in your product. After the trade show, you contact them in hopes of getting a purchase order from them, but they are in no way interested in your products. Your goal is not to waste time on such dead ends.

Identify potential customers and spend time with them. Answer their queries about quality, price, return policies, and customer service in detail and make them your happy and satisfied clients. These customers will not only purchase your product but refer others to you. This referral will increase the sales of your small business like no other.

Listen to the customer’s problem

In today’s world, everyone is interested in their own problems. The same rule is applicable to your customers. They are interested in their problems and seeking help to resolve them. Being a small business owner, it is your foremost strategy to ask customers about problems they are facing. Ask them what their needs are and what types of products they are in search of.

When you ask customers about their problem, they feel heard and important. They happily tell their problem in detail. After listening to them completely, start discussing the solution that your product will provide them. It may be possible that the seventh feature of your product is the solution, but, while describing your product to this particular customer, tell them that seventh characteristic first. After finding a solution, the customer feels relaxed and will listen to the rest of your sales pitch discussion happily and attentively.

The customer who finds a solution in your product will likely buy it and this small business strategy will increase sales.

Contact prospective customers yourself

When a customer does not respond to your email, instead of sending a new email, reply to your own email. Replying to your own email serves two purposes. One is that the client will see the original email. Secondly, you come to know whether the first email was received or not. If after the second email, the client says that they are not interested in your product, that’s why they didn’t respond to the first. Stop wasting your valuable time and end contact them.

Often the customer says that they are interested but could not respond to the first email due to some reason. Accept them. However, if no response to the second email was received, send a third email after a few days. Ask the client directly whether you should stop contacting them or not. This email has a positive effect. A client who is interested will send correspondence email as early as possible and the other one will send a refusal. After knowing the exact status, proceed accordingly.

Personal communication

Personal communication can increase the sales of a small business. This strategy proves extremely useful because, after personal contact, the customer doesn’t consider your email just an automated response. In a personal message, discuss the customer’s experience with your product. Ask them if they have any questions or concerns. In personal correspondence, the client should know that you are making an effort to write them a personal message despite your busy schedule. By valuing your prospective customers, sales can be increased tenfold.

Build an energetic team

Build a positive attitude of teamwork within your sales workforce. Don’t do things to divide them. The best sales team is the one that works together. By building positive dynamics within a team, they can communicate frequently and freely. Sales are increased by utilizing information shared within the team. Teamwork increases sales in the long run, independent of the size of the sales.

Conclusion

An increase in sales can be achieved by following a few simple strategies. These strategies basically revolve around the customer always.  As they say, the customer is always right.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Focused - Complete Controller

In business, focus improvement means that your systems are improved by gradually removing restraints and improving the system as a whole. To focus on the growth of a business, it is important not to waste time dealing with the constraints of the system. By doing so, the focus of the people associated with the business will be on the business functions.

Focus Improvement

Doing business is not an easy task, no matter how experienced you are. A business needs your investment, your time, your energy, and your total focus. If you are distracted, you will not be able to pay attention to business operations wholeheartedly. No matter how efficient the tools and software you are using in managing business functions are or how high-qualified the staff you hired for running your entrepreneurship may be, the business still demands your focus wholeheartedly.

Business bookkeeping and accounting is a difficult task. As an entrepreneur, you also must know the value of making the right decisions at the right time, along with the consultation of accountants. Reading financial statements, matching accounting statements, and discussions with your accountants, all need your focus and attention. Keeping a check and balance on your bookkeeping is not an easy task and, if your mind is already not focused on the work, you cannot interpret whether the expenses are going in the right direction or not, much less anything else. A small mistake in business or a small delay in the business-related decisions can slow the growth of a business. It may lead to a period of recession if you are not entirely focused.

Suppose you are dealing with clients in a service business, or you are having a meeting with other entrepreneurs. If your mind is not focused or you are not adequately prepared for the meeting, it will leave a bad impression with your clients and/or investors. You must be alert to your environment. What is going in the market? When can you reach other markets? What strategies can you adapt to increase business financing? How do you increase the market share of your products?

How to become more Focused

  • Divide your day into daily tasks.
  • Select one task at a time.
  • Plan out the way you will precisely accomplish your task.
  • Try to finish your task in the time you aimed for.
  • When finished with a task, allow yourself to feel accomplished.
  • Then, focus on another task.
  • Follow the same procedure to accomplish the task.
  • Try taking small breaks in between the tasks.
  • These breaks can be from 5 to 15 minutes.
  • Tea breaks are also a good way to relax.
  • Keep your mind away from other interruptions and thoughts.
  • Try improving your focusing skills by practicing yoga and meditation.
  • Office work should be kept in the office, if possible.
  • Proper sleep, hygiene, and eating are a part of staying focused and alert at the office.
  • When busy, avoid unnecessary things such as checking your inbox or social media frequently.
  • Close unnecessary browser windows on your computer.
  • Manage your time effectively.
  • Make deadlines for your tasks.
  • Try completing tasks in those deadlines.
  • Make a daily to-do list. Paste it on your wall or computer table so that you will be reminded and stay focused on the tasks you have to accomplish in a day.

 

Conclusion

Becoming more focused is important for everyone in today’s fast-paced world. Entrepreneurs, essentially, need to be more focused as it affects their day to day tasks and meetings. This, in the long run, results in successful business growth.