Every business has their competitors and often times, the competitor may reach levels of fierceness and intensity. Sometimes though, it may be beneficial to work with businesses that you may consider your competitors. Understand that this is not always applicable for every business, and it is up to the business owner to make the personal choice as to whether to affiliate with a competitor or not.
#1: A Competitor Can Help Direct Prospective Customers To You If Their Demand Is Too Great
Competition usually involves the business’s attempt to get as many customers on board as possible. However, small businesses tend to carry a different approach as they can only handle so many customers. Often times, small businesses may refer these customers to similar businesses. It might be in your best interest to align your business with a competitor as your business may end up with the leftover customers. Of course, you have to invest the time to interact with the competitor and work in collaboration with each other. You will also have to suck up your pride and accept that your business may not win over your competitor.
An important note here is that this point will not apply if your business goal is to be the best or among the best in your business type as aligning with your competitor will not be of any help here. Similarly, a competitor who wants his or her business to be the best will likely not align with your business.
#2: Aligning With Your Competitor Will Give You An Opportunity To Learn And Help Improve Your Business
There will always be competitors in your business type who are outperforming you. This does not have to be a bad thing for your business. If you can align your business with a really good competitor, it will present an opportunity for you to learn about the business and improve your own business.
For example, if you own a web design company and you can align yourself with a really good web design company in your area, you have a wonderful opportunity to learn about different programming codes and styles you might not have considered before. You can also learn about marketing techniques that you never tried before and target markets that you never considered.
As stated before, aligning your business with your competitor may or may not apply. This is a decision you need to research carefully and make sure you weigh the pros and cons before partaking in this decision.
As the owner of a new and developing business, you probably have your hands full dealing with marketing campaigns, web outreach and general, and ongoing company operations. There are, however, three things that you should always have in action throughout the start-up phase and beyond. These are measures that will protect the financial health of your organisation by supporting growth and promoting consistency in your profits.
Qualified And Industry-Specific Legal Services
All companies are guaranteed to find themselves in need of qualified commercial solicitors at some point in time. Even if you have transactions that do not legally require the presence of a license solicitor, it is still important to have one on hand. These professionals can assist you in finding, reviewing and signing rental agreements for tenancy in commercial buildings. They can also review all other contracts, contract templates and documents pertaining to important financial transactions, while ensuring that all aspects of your business are being conducted in an entirely legal fashion. With the help that these professionals provide, company owners can:
– Avoid preventable fines and fees for non-compliance
– Ensure that contract terms reflect their best-interests before finalising commitments
– Create feasible expectations for employees, clients and stakeholders concerning business practices and policies
Moreover, when legal issues do crop up, these professionals can help resolve them. Establishing these relationships early on is important. Solicitors can also give their clients ongoing advice so that the common stumbling blocks within their respective industries can be avoided.
Funding Solutions And Support
Company owners should always be working to improve their purchasing power and their spending abilities. This is best done by maintaining manageable overhead costs, remaining on time with all bill payments and creating a climate for profit consistency through ongoing marketing campaigns and promotional events. Business owners should additionally align themselves with reputable lenders, invoice factoring companies, equipment leasing companies and others. Having a diverse array of funding options is essential at each stage of your company’s development. Companies with easy access to funding tend to have the highest rates of growth, given their ability to financially manage the inevitable costs of expansion.
Flawless Strategies For Recovery
Getting customers to pay down their accounts in a timely and acceptable fashion is a key and very common challenge among new business owners. If your customers are not paying for the services or products that you’ve rendered in a timely fashion, you won’t have the ability to manage your own bills. In fact, this can sometimes lead to pressing cash flow issues that bring growing companies to an absolute standstill. Thus, it definitely pays to have an actionable plan for ensuring that these monies are coming in regularly.
One way to simplify these efforts is by using a reputable debt recovery service. This is a team of professionals who can speak with your clients on your behalf so that manageable payment plans and improved payment habits are established. The goal of these efforts goes beyond merely retrieving the funds that are due to your organisation. In these arrangements, your provider will also prioritise the maintenance of strong and positive customer relationships and the preservation of your commercial reputation.
Daily Work Plan is a document which explains what an individual intends to do at specific times of the day. All persons must have a work plan that outlines specific times and activities they would like to embark on every day. This document should be put in writing to prevent any essential thing being forgotten or prevent afterthoughts. The daily work plan is very important in many ways.
1. Make you stay focused
This written plan helps the artist to know where to go, what to do and at what time. It serves as a guide for the artist on his activities. He will not wander to waste time and resources.
2. Leads to achievable goals
A focused person makes optimum use of his time and resources and tends to achieve his set goals more fully. It is due to this that the artist should always and daily, plan his time, resources and activities carefully.
3. Eliminates unnecessary time wasting
The worker who has a written daily work plan is like a traveler who has a handy map that gives detailed direction to his destination. The traveler knows exactly where he is heading to without unnecessary stops making judicious use of his time. The same scenario applies to an individual who has a written daily work plan. He eliminates unnecessary time wasting since he knows when and what to do at specific periods of the day.
4. Facilitates the meeting of deadlines
It helps workers to meet their deadlines. Usually, workers set deadlines for the completion of productions and services for their clients or customers. The daily work plan breaks down the heinous task of producing the artistic products to simple daily activities that would culminate to the buildup of the finished work. If the worker endeavours to work in the confines of his time frame set for every day, he would be able to meet the deadlines for delivering his products and services to clients without queries.
5. Builds trust in clients
Clients build trust in artists who plans ahead and delivers on time. It gives a visual assurance to clients that the completion of their works is really feasible. Studies have shown that producers who systematically plan for their work are able to honour and meet their deadlines. This helps customers to build confidence and trust in them.
6. Makes you meet personal, family community, demands and have time for leisure, entertainment etc.
Workers who carefully plan their work activities are able to realistically meet deadlines for their works and still buy out time for recreational activities that improves on their health. They do not work under unnecessary pressure due to the fact that they fail to plan or use their resources judiciously. It affords them the time to engage in leisure, entertainment and other recreational activities.
Planning daily for activities one wants to undertake on a daily basis has tremendous benefits indeed. If it is one’s prime goal to plan ahead prior to the day’s events, it will aid him save time, resources and constant procrastination.
It has been quite a while since we last discussed social media etiquette for business. However, there is a lot to be said on the subject. In this article, we will give you new insight into an extremely important aspect of professional behavior.
The rules to follow
At this point, social media is certainly not new or mysterious although it evolves at an extremely rapid pace. New aspects of the various social media channels are being introduced frequently. Of course, there are the basics of proper etiquette and then there is another layer that is certainly worth consideration. Just to think about the history of social media etiquette for a moment, it all started in the 1990s and just evolved from there to what it is today. In the beginning, nobody really had a clear sense of how to behave exactly. There was a bit of a trial and error situation initially but, at this point, the proper etiquette is pretty well established.
Undoubtedly, there are certain behaviors that are obviously wrong to everyone who experiences them. In those cases, it is easy to understand right from wrong. Then there are those behaviors that are more subtle and those are less obvious and more difficult to determine whether they are right or wrong or just a personal preference. One thing that makes it easier at times is that some of the social media channels will provide you with their rules of etiquette. That leaves no wiggle room on your part. Whether you agree with those rules or not, you have an obligation to follow them if you wish to be a part of that particular social media channel. It is the rules that have a subjective element to them that need to be determined. The sad fact is that if you can’t figure those out, you may get into uncomfortable situations that you are not entirely sure how to get out of. In addition to following the etiquette rules of other people’s choosing, you should also come up with your own rules as well. That will help to guide you and it will make things a lot easier on a day-to-day basis.
One thing that makes it easier at times is that some of the social media channels will provide you with their rules of etiquette. That leaves no wiggle room on your part. Whether you agree with those rules or not, you have an obligation to follow them if you wish to be a part of that particular social media channel. It is the rules that have a subjective element to them that need to be determined. The sad fact is that if you can’t figure those out, you may get into uncomfortable situations that you are not entirely sure how to get out of. In addition to following the etiquette rules of other people’s choosing, you should also come up with your own rules as well. That will help to guide you and it will make things a lot easier on a day-to-day basis.
Contribute something of value to others
When it comes to the content that you are sharing, you want it to be educational, valuable, compelling, and you want it to make your readers want to share it with other people whom they know and trust. In fact, your ultimate goal is to get your content to go viral through the actions of the people who are reading it. If you are going to achieve that, your content must not only be well-written but also exciting to read. You may think that having to meet all of those criteria is quite a burden. However, once you start to write and to share valuable content that other people have written, it will start to go much smoother. You will see! It is a really good idea to sit down and think about what you want to write before you actually do any writing at all. You want to write content that resonates with a large number of people, that the person reading your content can use to improve his or her business, is in the friendliest format, that fulfills the needs and wants of the people who read it, and that is available to your readers at a time when they will be inclined to read it. If you accomplish all of that with your content, you will succeed.
Write personal messages
Automating certain things is really valuable and convenient. However, when it comes to responding to other people online after they have made an effort to reach out to you, that must be done personally. After all, you are trying to build a human relationship with the other person. There is no way that offering a canned message will suffice. If you do that, the human/emotional element will definitely be missing. Without it, you will not get anywhere. People don’t appreciate being treated like they don’t matter and that is exactly how an automated message will make them feel. How would you feel about it?
Not only should you respond to other people personally but you should also respond to them quickly. You probably would not want to wait a long time for the other person’s response so why would you think that the other person would feel any differently about that? Again, it all goes back to building a relationship together. In order to do that, you need to interact as humans. If you are overwhelmed with work, you should ask someone else (who is connected to your business) to respond on your behalf. No matter what, the response needs to be the human kind. The fact is that the comments that you receive online will not all be positive. The negative comments are the ones that are even more urgent and critical to answer. That is all part of your relationship-building. If you address concerns quickly and manage to rectify them, you will be earning trust and credibility, which are two of the building blogs of a solid relationship.
Show some class
As a parallel, think about the divorced couple with children. The shared custody and each one speaks bitterly about the other to the children. We all know that to behave in that manner is inappropriate, destructive, and just plain wrong. Okay, now you can apply that concept to whether you choose to be respectful when you are speaking about your competitors. The fact is that your competitors are not doing anything wrong by giving you a run for your money. They are in exactly the same position as you. They have a brand and products and/or services that they believe in. Their wish is to improve someone else’s experience based on that brand and those products and/or services. Don’t you feel exactly the same way? Chances are that you do. Don’t say negative, disrespectful things about them. It makes you seem insecure and petty. If you have confidence in what you are doing and what you are offering to other people, there is no need for that. It all starts from within you.
Make your content as shareable as possible
The format of your content is very important when it comes to making it easy for other people to share it. If you follow the rules of the particular social media channel to which you are posting, it will be a lot easier to share your content. As you are probably aware, some of the social media channels have length restrictions. As difficult as that is, you need to do your best to respect those. Otherwise, your content will be truncated. That certainly will do you (or your content) any good.
Always put your professional foot forward
You are probably well aware of the fact that you have social media for personal reasons as well as for business. Of course, what we are discussing here is a business. You need to ensure that you keep any personal element out of your interactions on social media for business. It is just not appropriate. You should make sure to have separate accounts for personal and for business. Trust me when I say that if you don’t do that, your professional connections will not take you seriously. If that happens, you will not succeed in business.
Social media etiquette for business is critical to your success. The chances are great that you are already doing most of what would be considered proper etiquette. You may have to adjust some minor things that didn’t occur to you before but it really is no big deal. What should drive your behavior at all times is respect and admiration for your other people. Of course, you need to make sure that your content is in no way offensive to anyone and that it helps other people in some way. That should be another (and very important) motivator for you.