Akron Today Magazine

Akron Lifestyle and Entertainment

Business

10 Point Small Business Marketing Checklist

Small businesses often do their own marketing and have some minimal outside help.  This can mean small details get overlooked and even minor things you do not see can be costing you a lot of opportunities.  So we have assembled this list of 10 things to review and improve if needed to save you time and improve your chances of getting more leads and sales.

  1. Dormant Social Media & Blogs – Social Media accounts and blogs that never get updated tend to also never get traffic because the various services take freshness into consideration.
  2. Mobile Website – More than half the traffic to your website is probably on a mobile phone. Websites can be made to display optimally for mobile devices and this will improve your traffic and the inquiries you get from these kinds of visitors.
  3. Online Reviews – It only takes one bad online review to really hurt your traffic and lead generation. The reason is that people do research on many kinds of companies and if they find a bad review first, they will most likely stop researching you.  There are ways to address online reputation and even having reviews taken down.  One good defense is a good offence though.  Ask happy customers to review your business and build up a lot of positive reviews.
  4. Functioning Website Forms – The kiss of death is when you find out for the last year your website contact us form has not been working. Test this regularly.  Software updates or changes in your spam filter might have stopped these contacts from reaching you.
  5. Effective Advertising – If you are running your own Facebook or Google ads you need to know your numbers and pay attention to the results. Just letting these kinds of campaigns run without knowing if they are profitable or now is a huge money waste.  Try using a magazine like this one to run native advertising which is then pushed through these channels and is more effective than just sending traffic to your main website.
  6. Spam Filter – Your spam filter on your email is always getting updated. This could mean you may not be seeing legitimate leads and prospects who are trying to contact you.  This could be especially true if you offer something free, like a “free estimate” on your website.  Visitors would send an email asking for the free estimate and your spam filter picks that up as spam and does not deliver it to you.  Another lead lost.
  7. Old Emails – Do you have older emails no one monitors in your company? Maybe ex employees?  Leads might be coming into these emails and just sitting there unanswered.  Make sure all these kinds of email situations are forwarded to your active email.
  8. Phone Forwarding or Voicemail Full – Do you have old phone numbers out there not being forwarded properly? Maybe tied to some older marketing?  This needs to be fixed because the cost of forwarding an old phone number is much lower than a lost customer.  Also, if your voicemail is always full people probably are just giving up and calling your competitor.
  9. Business Registrations – Especially if you have a physical storefront, you need to register your business in Google local and other places so you show up in apps that use GPS, on maps and in more searches. Basic common sense but some people may not know how important this has become.
  10. Local Media Exposure – Magazines like this one offer great ways to reach a local audience. For example, we offer the opportunity to submit a free article to us for consideration or sponsored articles which are seen by many thousands of local readers.  Not taking advantage of local media when you are a local business is money down the drain.  Local media outlets specialize in connecting with the exact same people you are most likely trying to reach.  And you can just reach out to them – they all want to talk to local business owners.  Find out what they have to offer.

Bonus Tip: If you have a business relationship, like Daniel Moneypenny, then do not let the relationship be forgotten.  Follow up regularly.

If you verify you are not losing leads and also improve these areas where needed, you should see a significant spike in leads and new customers.  At least once a year I run into someone who has not known about one of these things causing leads to be lost for many months.  It is painful to think about “what-ifs” when you see your website form not working or lots of old leads you did not see in your spam folder.  Save this article and review it occasionally to make sure you are not having problems that are costing you money.

Hoarding Can Be a Business Problem

Shows on hoarding are one of the constants of reality TV. Through these shows hoarding, which is a mental health disorder, has become a part of the general public’s lexicon. On the shows people hoard a variety of items in their homes and on their property. However, hoarding behavior isn’t limited to personal spaces. There’s a group of people, much larger than the average person would imagine, who hoard at work too.

Hoarders have an on-going difficulty discarding tangible and intangible possessions. This is because of a perceived need to save things since they made be needed, be of use or have value in the future. A person with the disorder experiences distress at the thought of getting rid of or sharing the items. This results in the excessive accumulation of “stuff”, regardless of its actual value or usefulness.

Hoarding isn’t limited by geography. It isn’t specific to a person’s home environment. It’s behavior which also can be observed in a work setting. Almost everyone has worked with or heard stories about someone who shows signs of hoarding behavior in the work place. There are 4 main ways it manifests.

Equipment/tools – Small businesses have been bankrupted due to the hoarding of the owner. This is particularly true when it comes to machinery, vehicles and tools. They’re unable to get rid of old or unusable equipment. Some have been known to leave obsolete machinery on the shop floor, taking up space needed for income producing machines.

Tool hoarding has lead to spending too much money (profit) on unneeded and unused tools. Or it may cause the owner to be unable to throw away broken, outdated or miscalibrated tools, resulting in lost time, poor quality control and noncompetitive manufacturing practices.

Supplies – Almost everyone knows or has heard of “the supply lady”. This is the person who’s in charge of the supplies. She has more Post-Its, pens and coffee creamer than the company will ever need, behaves as if they’re her personal property, and doles them out grudgingly.

Inventory – Some business owners become emotionally invested in their inventory, both raw materials and finished goods. This is one of the hallmarks of hoarding – objects create feelings of well being and security. They carry too much product in the misguided belief that they may need it someday. The business becomes insolvent when it’s unable to turn or support the expense of its inventory.

Information – Household paper items (i.e. mail, newspapers, and magazines) are commonly hoarded. This is, also, true in the work place. The depiction of an office worker unable to find anything among his over flowing stacks of paper is a cliché.   However, the stacks of paper are being replaced by information hoarding via electronics.

Electronic devices allow a hoarder to accumulate information faster and from more places. In addition, they make it easier to hide the behavior for longer periods of time. It’s an emerging business problem that’ll continue to grow. Some companies are dealing with information being inaccessible or lost when an employee has too much irrelevant and extraneous information on their business devices to find it.

The symptoms and consequences of hoarding range from mild to severe. In some cases it may not have much impact on a person’s personal life and job, while in other cases it seriously affects their thoughts, emotions and behaviors on a daily basis. It’s just a matter of time before there’s a workplace segment of Hoarders.

 

Accounting Checklist for Business Startups in Akron

There are a few steps that you should take to ensure that your small business is successful. Organizing your accounting practices early will assist you to concentrate on the important work of growing your company. You will realize that there are a number of finance software applications that you can use for your accounting practices.

Bookkeeping is an essential part of any company because it helps in controlling the operations of your company and avoids an audit by offering the IRS what they require. Therefore, in order to attain your long-term objectives, increase your sales and organize your company’s accounting practices, ensure that you consider the following factors;

  • Make sure that your small business is legally registered and thereafter open a bank account for your company. The bank account for your business should be separate from your personal account including checking and credit card. Separating your company and personal expenses will give you peace of mind in the future.
  • It is critical for you to keep a record of all your expenses so that you can be certain that your business will be successful. This activity will assist you to track the development of the organization, organize your financial statements and also the deductible expenses. Therefore, keep all the important receipts of your business.
  • Develop a bookkeeping system through the different kinds of software that are available or simply an Excel worksheet if you have a very small number of monthly transactions. Additionally, you can hire a temporary bookkeeper that is based near your business.
  • The next step is to create a payroll system that will assist you to assign different roles in your small business and then compensate them for their input. Create a payroll system for all employees including permanent staff members and independent contractors. There are many companies that offer payroll solutions and your accountant can recommend one.
  • You should produce accurate and detailed invoicing so that you can easily answer questions from your clients in case of a misunderstanding. In addition, you should consider online payments so that you can automate your bookkeeping process.
  • You need to be ready to receive large expenses such as computer upgrades and equipment repair. These kinds of major expenses can come up in a slow month and therefore, you should be ready to avoid a cash crisis.
  • Devote some time to update your books. Dedicate a few hours per week to clear out your paperwork so that you can avoid a long pile up. It is important that you stick to the days that you have set aside so that your books can be updated at all times.  If you have hired a bookkeeper this is easier for you as you just need to be organized and get information to them, and keep an eye on their work.
  • Re-evaluate your accounting practices regularly. At the start, you will only use an Excel worksheet; however, as your company grows you will need to use more improved methods. Therefore, when you realize that an Excel worksheet is not adequate for you and needs a lot of effort; you should begin to look at the Internet-based bookkeeping platforms. Continue to reassess the effort and time that you use for your company’s bookkeeping so that you can save time for other more relevant activities.

Not taking accounting seriously is a huge risk for businesses.  It can lead to lost money, paying too much in taxes, poor business performance and even large penalties and fees simply by not paying things on time. If you are not able to conduct the bookkeeping process on your own then you should seek the assistance of an expert. That way, you will have a chance to concentrate on running your small Akron, Stow or Fairlawn business and try to get ahead of your competitors.

 

 

 

Akron Business Networking

Akron is full of things to do.  But if you are starting a new business or if you want to get out and meet more people because you are in sales, you have to know where to go.

What many people do not realize is that not only is there an Akron Chamber of Commerce that provides business networking opportunities in Akron, but there are many other chambers as well in all the surrounding communities.  I have been to Fairlawn, Kent, Stow, Ravenna, Streetsboro and more different chambers.

Beyond that, Rotary is in many of these same communities.

Then you have professional networking organizations that provide specific networking opportunities.  One I was in was B to B Connect which generated a lot of referrals for our business to business marketing agency at the time.  They had groups in Kent, Stow, Akron, Streetsboro,  Aurora and more locations.  Because the same group meets every two weeks, you get to know people better and even if you do not get business, you will probably develop some good business friendships.

Network After Work puts on events in Akron and Cleveland as well and you do not have to be a member to attend and meet some new people.  The combination of events to meet new people and other events where you get to know people better is very powerful over time.

Then you can check Facebook Groups, LinkedIn and MeetUp to find even more things going on in Akron for business networking.  If you want to go to something new every few days you should be able to find something.

Some tips to networking better:

  1. Follow up the next day – nothing is more frustrating when people do not follow up after meeting.
  2. Do not expect sales – look to grow your network of connections and keep them fresh (reaching out regularly) and the sales will come over time.

Sure you can go to Cleveland which has come great events as well.  But chances are you can find all the new customers you want in the greater Akron area if you just know where to look.

Kid Proof Your Home Office

Here are a few tips to kid proof your home office if you are a work from home mom:

1. Keep as few wires as possible reachable to little hands. That means position your furniture to cover outlets so wires are not exposed and inviting little hands to pull at them. Also, you can get cable covers and wire clips to hold several wires together.

2. Keep as much away from the edge of surfaces where little hands can reach. For instance, keep your computer monitor far back and when you are not using your keyboard put it above your monitor if possible. Also, unplug your printer and fax machine when not in use so that even if little hands get on them they can’t do much damage.

3. Your file cabinet will be hard to keep organized if your little one keeps getting into all the papers. The easiest solution is to get locks for the drawers. However, be careful that they cannot lock themselves in the drawers.

These are a few inexpensive tips to help you if you are trying to earn extra money at home. Of course the ideal would be to lock your office door when you are not working and only work when your little one is not around. However, this is not always practical and therefore I hope these simple tips are helpful as you set up your home office.

Jobless But Earning – Three Ways To Earn Money Online Without Actually Being Employed

Intriguing title, isn’t it? After all, a lot of us would want to earn money without having to work, but hold up. Don’t get me wrong here. This is not one of those posts that say you can earn money just by lying in your bed all day. Don’t confuse the phrase “not being employed” to being lazy because I’m pretty sure those two are not the same. And just to be clear, I do not know of any way that you can earn money just by doing nothing.

This post, however, will provide you three ideas where you can possibly make money online without actually being employed. By employed, I mean that you have your own employer with definite working hours throughout the day. I would also like to clarify that this is not for everyone and not every person who will read this post and try out these ideas will be successful at it. This will still take some effort on your part and perhaps, a little bit of luck. Are you ready to hear out these ideas? Let’s begin then.

  1. Set-up an online business. I know, very original, but seriously, consider the perks of this. You are your own boss. The success of your business, however, will depend on how much you work for it, but if it’s something that you love doing, it’s not work at all. If you love baking, you can set up a small cupcake business. Cupcakes are so in these days, so you may have a lot of competition, but if your products taste absolutely amazing, word will spread. Don’t be shy. Ask your friends for help, they can recommend prospective clients to you. You don’t even have to own a bakery to do this. In fact, I would suggest starting a homebased business. It will cut your initial costs while you’re still starting up. Another great online business would be selling knick-knacks, especially if you love visiting thrift stores for collectibles. You can set it up in an online marketplace like eBay and start earning.
  2. Sell gigs. What are gigs, you ask? Gigs are simply things you offer to people who need to outsource work online. There are many websites where you can sell gigs, like Fiverr and Gigbucks. Are you a writer? Offer to write a 1000-word story for a gig then. Do you like making crafts? Great, you can offer to make a scented candle for a fixed price. You don’t have any talent except that you look cute and quirky on cam? Not a problem! Gigs can be serious or wacky, it doesn’t matter. If you’re good at something (wholesome, please), offer your services in the site. Who knows? Someone might find the video of you singing Happy Birthday adorable and will hire you to make one for him.
  3. Sell items at an online consignment shop. Are you one of those people who like to buy designer bags or shoes, but get bored after wearing them twice? Well, there are a number of online consignment shops that offer to sell your gently-used clothing or bags. The shop will have to take a percentage off the sale, but that’s normal. Besides, you can get rid of you stuff to make room for more and earn money to pay for your next designer item.

So, there you have it. While these ideas will work, success will not be possible without some effort on your part. These may not be actual jobs, but it requires hard work and ability to make it possible for you to earn some money from it.

Do you have other ideas on how to earn money online? Share them with the other readers by commenting below.

Becoming a Work at Home Parent

Are you a full time working parent working the 40 hour week? Would you like more time with your kids and a more flexible schedule? Have you ever thought about a work from home company? It is possible as more and more moms are turning to working from home. It might be time for you to find that work from home business income opportunity that will fit you.
All you have to do is type in work at home and a whole list of opportunities pops up on the screen. You have a choice in almost any field of your choice. There are many companies and businesses out there that are looking for people who want to own their own work from home company. There is much to be researched before jumping into the first one that grabs your attention.

You need to first start out by getting information on each and every company that you are interested in. If possible start a business in something that you find interesting. You will have more success if you enjoy what you are doing. Wanting to start your own? Write some ideas out and just as you prepared for your baby, you need to prepare for your business. Get some money saved or at least get used to dining in more often than out. It takes money to make money.

Being a work at home parent can be very rewarding. You can have the freedom to work when you want and still be with your children. Many moms and even fathers are choosing to stay at home and work from home as the economy is tight. There are many different things you should look into before starting and be sure to do your research thoroughly. As with many businesses, you will have to invest some money but as far as how much, that all depends on what type you decided to do. They can all range from less than $100 to several hundred to start.

One option if you enjoy it is writing.  Maybe even publishing your own local magazine.  Many companies need writers to help with websites and social media.

Make sure you stay organized, find some good marketing and advertising that will get your name out there, and be sure you have a home office set up so that you can concentrate on the task at hand. Lastly, be patient. Rome wasn’t built in a day and your business will take some time to become established and to get going. It will all be worth it in the end.

Tax Advantages with Home Based Businesses

Tax advantages with home based businesses are plenty that there is no reason not to take the income opportunity home based business provides. Tax advantages include equipment deduction, deductions on office supplies and furniture, and travel needed to provide service.

Employing yourself to the income opportunity home based business basically means that you may have a certain area in the house dedicated to the business. The IRS regards this as the work space and allows deductions for any needs that will support that area of the house.Equipment including computers and service equipment needed to start the business can be deducted from taxes and allow ample opportunity to purchase what is needed. Thinking big in your business can be an excellent way to kick start the career from home but it is generally recommended to start small and then work up to more expensive equipment depending upon the area of expertise.

Deductions include furniture and office supplies for your income opportunity home based business and can provide the office space with enough to feel comfortable. Working from home should be a comfortable experience in order to provide enough space and arrangement for furniture to work within the area. Creating a theme in the workspace is highly recommended for the career from home minded individuals for a pleasant working environment.

Traveling, entertaining, and fuel expenses can also be deducted from the taxes of a home based business. These are plausible opportunities to gain further clients and provide service or products for the growth of the business.

Applying for Growth Capital? Leave Emotion Out of It

It’s a given in the financial industry that small business owners are unrealistic when valuing their companies.  The owner who knows the true value of his business is the exception rather than the rule.  Unfortunately, not knowing how much the business is really worth eventually creates problems – big, hard to ignore ones.

One of the biggest problems occurs when owners want to grow and need outside capital to do it.  Owners who want debt/venture capital to generate growth have to know and be able to prove 2 things.  One is the actual, not perceived, value of the business (tech not withstanding) and the other is the company’s ability to pay the money back. 

Whether raising money through investors, creditors or both they’re going to want to see hard, reasonable numbers based on revenue, profit, physical assets, receivables, contracts (current customers) and letters of intent (future customers).  It is naïve and unrealistic to expect the process to be different. 

And yet, owners do it all the time, because most of them don’t recognize they’re acting on emotion rather than logic.  They believe they’re being rational, but they aren’t, which is where the problem starts. 

Although they don’t see it this way most owners are emotionally attached to their businesses, as they should be.  Many financed their own start-ups through personal money/credit, family and friends.  They worked hard and sacrificed to achieve success, eventually providing a better future for themselves and their families. 

Their initial hopes and dreams were realized and they feel good about it.  They want to take the next step and get outside capital to continue that success – seeing the application process as a continuation of their needs, desires, hopes and dreams (emotions), rather than a business transaction (logic).

Overwhelmingly, small businesses owners expect to get growth capital based on future speculation, rather than the current worth of the company and its ability to repay the money.  They want to continue to take chances and bet on their ability to make their dreams come true, not understanding when the bank doesn’t.  However, for every level a business grows the old cliché – it’s not personal, it’s just business – becomes more and more applicable.

Developing Leaders in Akron

It’s an old debate — can great leaders be made or are they just born that way?  While there are some people who’re born with natural leadership talent, the majority aren’t.  But, being born with the talent doesn’t mean it’ll be used effectively or guarantee success.  We all know a charismatic slacker, who “wasted his potential”.

A natural aptitude is not enough to become an effective leader; even those who have it must learn how to use it. They sharpen their skills through trial and error, just like the people who don’t have an innate ability.  Successful leadership is achieved through intentional focus and the willingness to learn.  Here are 3 things to focus on and practice.

Build a base of supporters

Good leaders commit to a long-term strategy which builds support and connections before they need them.  They create allies both within and outside the organization.  We’ve all had the experience of feeling used and resentful when someone suddenly notices us because they want something.  At best they get begrudging help and at worst can be sabotaged.

Build credibility

Do the work, there are no shortcuts.  On-going, long lasting successful leadership is built on the firm foundation of good execution and taking responsibility, which earns other’s trust and respect.  The capital you accrue is what you spend when (not if) you make mistakes.  It’s the difference between “He messed up, we need to get rid of that guy” and “Well at least he was trying to do his best, he’ll do better next time”.

Build others interest in your success

People respond to winners — they want to help, be around and work with them.  They respond to them for the most human of reasons, “What’s in it for me?”.  If you learn to listen to and act on what’s important to others, they’ll become invested in your success.  They’ll actively promote your ideas and support your power when they see how it’ll benefit them.

There’s this belief that leadership should be organic, people either got it or they don’t.  This simply isn’t so.  Successful leadership is achieved through intentional focus, a lifelong willingness to learn and practice, practice, practice.  Being born with the gift of natural leadership is the least of the skills you’ll need.