5 Key Areas That You Should Always Look To Outsource

In business, everyone will always have their own way of doing things. Some prefer to micromanage, others want to take a step back, and some will prefer to only keep their toes in what’s going on. And whatever works out for each business the best, is often the greatest solution for them. However, from here, there’s also the great debate of working out where you sit when it comes to the idea of hiring in-house or outsourcing. Both options come with their ups and downs, but when you look at outsourcing, it’s hard not to be impressed by the benefits. Because when you outsource a certain function or area of the business, you’re going to save yourself time and money. And the best part is that you’ve got experts working on it, so you know that it’s going to be done properly. So let’s take a look at the five key areas you should consider outsourcing.

Customer Service

First of all, you have your customer service. And this is always the first thing to think about outsourcing. But we’re not just talking about sending it off to some company that can just take it off of your hands. Instead, you need a dedicated company that is going to be able to do a much better job than you can. Because keeping your customers happy should be at the core of everything that you do. So you need a service that will be able to talk to your customers from all angles and really ensure that their needs are met and queries are taken care of.

HR

When it comes to HR, there’s often a lot that you need to cover off. And it can be overwhelming. There are a lot of rules and regulations that you need to, and making mistakes is not something that any of us wants to do. But when you outsource to a specialist company, you don’t have to worry about it. You know that the team will be taking care of everything, keeping you legal, and ensure that your staff are looked after.

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IT

When you’re busy, you do not want to be dealing with computer issues. So this is where IT support comes in. By hiring the right support company, you don’t have to worry about downtime or having to deal with issues yourself. It will all be taken care of for you.

Finance

Next, you’ve got finance. And this one can be debatable, but unless you want to bring a full team in to take care of things, outsourcing your finance department could be what you need. After all, you need to keep your eye on the prize, so things need to be taken care of expertly.

Sales

And finally, you’ve also got your sales department too. If you know that you’re not great at making sales, and you really don’t have the time to take this on, then bringing in a specialist sales or business development company will not only save you time, but it will be in the best interest of your business.

SME’s Can Bolster Profits By Following This Simple Advice

Let me guess; I bet that someone in your firm has asked you recently what needs to be done to boost profits in the next quarter? Well, this comes as no surprise because it is a question that is asked over and over again throughout the world. After all, profit is the bottom line for SMEs and any business worth its salt will be looking at ways to maximize this, something that you can find out more about in the post below.

Cut costs not quality

The first method that can be used to bolster profits in an SME is to look at where costs can be cut. Although, this can sometimes be seen as a controversial project. The reason for this is that many people worry that reduced cost means a more inferior service or product will be shipped to the customer, something that can negatively affect profits.

However, there are ways in which costs can be cut that do not affect quality. In particular, negotiating a better deal with your supplier can help you cut production costs, but still, supply the same quality you customers have become used to.

Also, monitoring productivity and efficiency can help cost be cut because less time and effort are my being frittered away on unnecessary tasks. Something that means the more can be done in the same amount of time, which ultimately reduces the cost of each item that is created and increasing the profit you can make on each unit.

Sort efficiency issues to save time and money.

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Generate more leads

Next, a popular way of bolstering profits in SME’s is by generating more leads. Leads are potential customers with a real possibility of converting into a sales, and the more you have of them, the better. This is because the more leads you have on your books, the more sales you can close and the more profits you will make.

Digital marketing tactics are often used to create more leads for SMEs. In particular, the notion of the sales and marketing funnel is used to demonstrate the different stages of interesting, engaging, and selling to a customer.

Of course, there are simple digital marketing strategies that can be completed by non-specialists, like opening social media accounts. However, the most effective ones are usually completed by people like Mike Khorev that are professional within the sector. This reason for this is because they have the knowledge and expertise to know exactly which areas in your business need boosting to generate those valuable additional leads.

Repeat sales are still sales

Lastly, while a lot of effort can go into generating new leads, it is also crucial for SMEs to remember that the previous customers are a good source of sales as well.

In fact, with customers that have already bought from you, there is an already have established link, as well as a positive expensive to build on. With this in mind, don’t forget to send out new product details to those already on your books and to tempt them with special offers and discounts, as it can be a fantastic way in which you can boost your SMEs’ profits.

3 Signs You Desperately Need Help With Your Business

Regardless of what kind of experience you have in the world of business, there will be times when you need a little outside assistance. There is no shame in this – it’s just part and parcel of the process of building an empire. But it is important to be able to recognise when you need help, and to have the strength of resolve to ask for that help at the right time, and from the right people. These in themselves are surprisingly tricky things to get right, and can take as much practice and devotion as any other aspect of business. The first step, of course, is to recognise when you need help in the first place.

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You Are Spending Too Much Time On Non-Essential Tasks

If you find that you are routinely spending a lot of your day to day time on non-essential tasks, then it might be worth getting someone to help you with those tasks. By non-essential here, we don’t mean that they are not important for the running of your business, but that they do not directly involve your service, or your relationship to your customer. For example, you might be running a law firm, in which case you want to spend as much time as possible actually helping your clients. In this case, you will probably want to outsource your marketing, as marketing for law firms can take up a lot of time and energy – which you could be spending on your clients.

Your Sales Are Dropping For No Apparent Reason

One of the most distressing things which can happen in business is when your sales are declining and you can’t even tell why. When this happens, it often has a way of causing a significant amount of despair, and it can be one of the quickest ways for entrepreneurs to become disillusioned with their own organizations. If this starts happening to your business, the first step is to consider getting a consultant on board. It might be that their expertise – or just the fact of having an extra pair of eyes – will help you to identify the inherent problems in your business. You can then face those problems head-on, and so get your business back on track in good time.

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You Have Had An Influx Of Customers

Or, it could be the exact opposite situation: having many customers come to you all at once. Whether it is the result of good marketing, or just chance, having a sudden influx of customers is good news, but also a potentially very stressful time for you and your business. If this happens, one of your main objectives will be to bring some people on board to help you patiently and politely deal with those extra customers. You really want to get this right – succeeding at a time like this is a sure sign of a business that will stay around for a long time yet.

Getting help with your business is often the most sensible approach to take, and there is real value in learning when to do so, and when you can cope on your own.

10 Non-Verbal Gestures and Movements That Can Make or Break a Sale

There’s the old saying that first impressions are everything. But have you ever thought that what you don’t say to people is as important as what you do say? Verbal gestures can convey a number of different things—some good, some bad—that become important to relationships with new or returning clients.

The handshake, of course, is something that might come to mind for many people. Firm, but not too firm, direct, and with an eye gaze—all help to convey confidence and positivity. In fact, most of the little gestures that matter are so small that they become a problem when they’re missing: When they’re performed as we expect, we don’t even notice they’re there. That includes slouching or even directing your gaze away from the person that’s talking or that’s your prospect. All convey disinterest and lack of respect.

Need a refresher course on non-verbals? Use this graphic.

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Stop Cutting Costs! Increase Your Income Instead

When profit margins are slim, most businesses decide the best course of action is to cut costs. They limit their expenditure, trim their budget, and try to spend less and less. However, this isn’t always the best option. Instead, you should focus on increasing your income instead. How can you do this? Just look at these three ideas for inspiration:

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Make As Much Money From Advertising As Possible

Advertising revenue is one of the best secondary sources of income for business. It helps keep your income ticking over, and can present huge profits come to the end of the year. The key is ensuring you make as much money from adverts as possible. How? By monetizing as much as you can. Get ads on your website, ads on your mobile app, you should even have a separate blog site and get ads on that too! One brilliant idea is to start a YouTube channel and monetize it. You can earn some serious revenue through YouTube, and it will dramatically increase your income. Plus, there’s the added benefit of helping reel in new customers and broaden your appeal with a YouTube channel too. The bottom line is that you must take advantage of ad revenue and use it to boost your income in any way possible.

Sell Gift Cards

Gift cards are a brilliant way you can boost your income without having to come up with a crazy new product idea. With a gift card, someone can spend money and get a car that they can only use with your business. Most people buy these for friends and family as a present on birthday or Christmas. They’re convenient, and benefit you in that you have one extra thing to sell and gain money from. It’s easy to get gift cards printing done and have some cards that look great and follow your business design ethos. Also, gift cards are brilliant for bringing new customers to your store too. A loyal customer might buy their friend a gift card, meaning they have to buy things to spend the money, a real win-win for you.

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Start Selling ‘Add-Ons.’

A great way to boost your income is by selling add-ons along with your main products. What this refers to are any additional things that can be sold to go with your main products. For example, phone companies sell smartphones, then they have loads of accessories like cases, headphones, chargers, etc. Look at your product and figure out what things you can sell to compliment them and provide something more for the customer. That’s the key with these items, they need to enhance someone’s purchase. A customer needs to feel like their main purchase is made better by getting an add-on as well. The good thing is, these items are usually much cheaper than your main products, which helps entice customers while keeping your income ticking over.

Focus on improving your income, and you’ll see larger profit margins without having to make sacrifices and cutting your budget.

If you’re looking for advice on how you can boost your personal income, then we’ve written a guide on that for you to enjoy too!

Lead United: Leadership Skills For A Top-Scoring Team

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The very best sales teams can feel the pressure on occasion. The world is littered with targets and performance tools, and these can contribute to a lack of productivity, rather than aid it. People will feel the tension in different ways, and with some people, it can help them by giving that adrenaline and kick that they need, others can crumble. The one thing that can make a difference to a team is its leader. The manager of a group of people can dictate, or they can guide. The leader of a team is the barometer, people will look to that person for praise and encouragement, and there are many line-managers that don’t have the right touch, and will inadvertently cause low morale. Where do you, as a leader, begin to give your team the right type of push?

Communicate Consistently

Communicating the vision of the team is one way to reinforce the purpose. By doing this, it keeps people clear in the knowledge of what their end-product is. By making sure that each person in the team knows their own individual role and what their own goal is in relation to the bigger picture. This will instill not only purpose but focus in each part of the machine. Each team member should be able to see the vision set out reflected in the decisions you make as a team leader, and the vision should be connected to their own goals. Transparency in an organization is the valuable trait to inspiring employees and helping them to understand their part in the whole company.

Work On Developing Talent

Mentoring and feedback are something that can be lost in the midst of targets and goals. While it is an important aspect of a business to monitor the productivity of a member of staff, using their “numbers” as a reason to make them work harder is not enough. This is where the power of “why” comes into play. By asking opinions and perspectives of a situation, this will get you to the core of a person. Their attitudes and behavior is key to understanding how they work as an individual. Speak to them and see what the underlying issue is. As leaders, we are so focused on the short-term tasks that we neglect the long-term ones, and our employees are a long-term investment. We need to see if there is a fundamental skill they may need to brush up on. There is sales team performance enablement software that can be used to develop employees, from providing training to using systems to help make peoples’ jobs easier, and by using the right tools in conjunction with the development of talent; it is working to make a better workforce all round.

Express Your Gratitude

On a personal level, expressing your gratitude for a person’s work will really help to bolster performance. You are making them feel valued, and this will translate into a better working attitude. It is easy to give a pizza to your team as thanks, but personal and heartfelt appreciation will last much longer.

 

 

 

Psyche! Learn Some Consumer Psychology to Increase Your Sales

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Psychology is an important thing to consider in business. After all, potential consumers are all people with psyches! Here, we’re going to take a look at the psychological aspects of consumer decisions. These are the things you need to pay attention to as you do business.

Friendliness

People love friendly people. Well, except miserable people who aren’t all that into sociability. If your business appears friendly, then a consumer is more likely to want to engage with you. People are more aware than ever about the corrupt doings of many businesses. There are several out there who don’t want to be complicit in that. When you show yourself to be an ethical and friendly company, people will be compelled to support you.

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Consistency

Commitment and consistency are signs of a strong character. The chances are that you like to see those traits in people. And it’s the sort of behavior that consumers want to see from a company. In a way, they want you to be a little predictable. They want to know how you’ll respond to a given query. They want to know how you’d respond in a particular crisis. Being consistent in your practices will give your consumers more confidence in you.

Attention spans

People say that this generation has atrocious attention spans. Technically, our attention spans really aren’t any worse than they’ve ever been. But because there’s so much distraction out there, it’s actually more difficult to stay focused on any given thing. This is more a consequence of the Internet and commercial industries than it is a flaw of the new generation’s character. The fact is that you’ve got to keep the attention of your consumers. One of the best ways of doing this is by remaining active on social media. Contact a social media specialist if you want to know more.

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Honesty

People expect you to brag about how amazing your products and services are. But do you know what really gets their interest piqued? When you admit your flaws. If you do it right, you can actually highlight your positive attributes. Honesty, a sense of humor, an understanding about the importance of quality… All of these things can be displayed with the right “honest ad”. The classic “lemon” ad from Volkswagen was a fantastic early example of this.

Exclusivity

We love to feel special. It boosts our self-esteem. Anyone familiar with the Maslow pyramid knows that self-esteem is extremely important for most people. Self-esteem is often boosted with a feeling of uniqueness, of exclusivity. This is why you’ll get adverts or content that is proudly “not for everyone”. Of course, when you make a consumer feel like they’re getting exclusive treatment, you generally have to commit to that. If you treat everyone like they’re getting exclusive treatment, your plan will eventually unravel!

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FUD

Fear, uncertainty, and doubt. If you sow the seeds of any of these within a consumer, you may compel them to make certain decisions. Of course, it’s often nowhere near as ominous as it sounds. In this sphere, it’s usually nothing more than taking some shots at the competition and making consumers doubt them instead of you. Beyond that, you should probably leave fearmongering to the politicians and the media.