Wobizzle

For women who own or aspire to own their own businesses

Management

Change One Thing To Make Business Networking Pay Off

Despite all of the ways we are able to connect with potential customers and vendors online, face-to-face business networking continues to be an important part of growing a small business. Problem is – few of us are born networkers.

I’m an extrovert. I have spent enough years in media, marketing and public relations to get pretty good at striking up conversations with strangers, but I know it doesn’t come easily for everyone.

Having worked at a chamber of commerce for several years, I have seen some awkward attempts at business networking. And I understand why. No one really ever trains you for business networking. You are just expected to show up to an event and know what you’re doing.

The Typical Business Networking ExperienceBusiness Networking

Let me paint the picture of a stereotypical business networking experience.

You walk into a room full of strangers and you do what you think you are supposed to do.  You pass out your business cards, deliver your elevator speech, move on to the next person or group of people and repeat the process.

My friend, you are guilty of drive-by networking.

What do I mean by that? Put yourself in the shoes of the person on the receiving end. Here’s how that might sound to them.

“Hi, I’m Michelle. I have no idea who you are or what you do, but let me tell you how great I am and why you should do business with me.”

I’ve seen it happen over and over again. It’s ineffective and honestly, annoying. Who wants to be on the receiving end of that?

The problem with this method of business networking is that it focuses too much on the quantity of contacts rather than the quality of contacts.  Sure, you may walk out of a networking event with a stack of business cards, but you were likely unsuccessful at making any true personal connections. Also, you possibly guaranteed that some of those folks are going to avoid you the next time you enter the room.

My First Business Networking Fail

Let me tell you about my first time trying to promote my business at a networking event. Boy, it fell flat.

I walked into a meeting of a local public relations group. It was my first event as a new member. I was still working for another company, but was looking forward to networking with this group to try to grow my freelance business.  I marched up to someone and introduced myself.

“I’m Michelle West, I work at company z and I also do freelance writing.”

The person on the receiving end of that looked at me, grimaced, and said, “Yeah, I do too,” and walked away.

I was horrified.  As a result, it took me a long time to get up the courage to just walk up to someone and introduce myself again.

Here’s what’s so strange about that scenario. I had been successfully networking for years while working jobs for other people. But things got weird when I tried to promote myself. It’s like the wheels came off my networking bus. I was nervous and awkward.

Also, I forgot the cardinal rule of business networking. It’s not about selling. It’s about building long-term business relationships. Good business relationships are just that—relationships.  They cannot be forced and they are rarely developed through a rapid-fire, drive-by networking style.

Change Your Business Networking Mindset

So, instead of promoting yourself, consider trying a different approach called Positive Networking®.

The term has been trademarked by Shepa Learning Company. The strategy turns the tables on the “promote your business” method of networking, and it yields better long-term results.Change One Thing To Make Business Networking Pay Off

As an added bonus, it takes the pressure of you to sell yourself and makes business networking a lot more enjoyable. Consequently, the more enjoyable it is, the more you will do it. The more you do it, the more your business will grow.

What is Positive Networking®?

It represents a shift in attitude.  Networking is no longer about you, it’s about the people that you meet.

So, instead of going into a networking situation with the goal of selling your business, you approach your new contacts with the intent of discovering what you may be able to do for them.

Ask questions. Get to know them. And think about how you might be able to help them grow their businesses.

Perhaps you can connect them with a resource or someone within your network that might be a potential customer or vendor for them.

You may be wondering how this is going to benefit me?

It’s simple.  People do business with people, not businesses.  And they are more likely to do business with someone they know and trust. If you approach networking from the standpoint of starting a relationship instead of closing a sale, you’ll begin developing that level of trust.

Also, it makes striking up a conversation at a business networking event so much easier. You no longer have the pressure of figuring out where in the conversation you should start reciting your elevator speech.  You are just getting to know a new friend.

Network Like You Know How

Business networking done right is not able generating sales leads. It’s about building a circle of friends for your business.

Also, the reality is, very few people that you meet at business networking events will ever become your customers. Their true value is in their potential to refer you business. And, they are more likely to do that if they feel they know you and trust you.

It’s a marathon, not a sprint.

So get yourself to a business networking event ASAP. Practice your new skill and start building a circle of friends for your business. Network like you know how. Because now you do!

 

SaveSave

Payroll Outsourcing: Does It Make Sense For Your Business?

Hiring employees can help your business grow, but it also makes your job more complicated. Take payroll for example. It’s a headache that recurs before every payday. Payroll outsourcing may relieve some of that pain.

Processing payroll internally takes time and resources. Also, it’s easy to make mistakes. Statistics from the Internal Revenue Service show that approximately 40% of small businesses incur penalties for failure to comply with payroll requirements. Total fines paid by businesses are in the billions of dollars. That’s money that could be better spent.

Payroll outsourcing can keep you on the right side of compliance. And, it’s really not that expensive when you consider the time and worry it can save you.

How Payroll Outsourcing Works

In general, payroll companies take care of payroll administration for their clients. If you’ve been doing it yourself, you know it is a much bigger job than just issuing checks.Outsourcing payroll

A payroll company handles all of the details to get employees paid. This typically includes check processing, direct deposit, W-2 and 1099 processing. They may also help manage employee benefits and other HR functions. But, where a business may find the most value in outsourcing payroll is in tax administration services.

Tax administration is an important part of the payroll process that many small business owners find difficult to manage on their own.

There are monthly, quarterly and annual deadlines for payment and reporting. Keeping track of those while you are trying to run a business can be overwhelming.  Also, regulations change on a frequent basis. It all makes a great case for payroll outsourcing.

Payroll Outsourcing Pricing

Pricing varies depending on the size of your business and the services that you need. It’s common for services to charge a flat monthly fee plus a per employee fee. Entrepreneur.com reports that basic payroll service pricing ranges from $.80 to $2.00 per check plus a base fee. Many companies will provide a free quote customized to your business’ needs.

So, is payroll outsourcing a good solution for your business?

If you need to focus on other areas of your business, payroll outsourcing seems like an inexpensive option.

Very few people go into business for the fun of payroll administration. By outsourcing payroll to a trusted provider, you can get back the precious resource of time. That allows you to put your energy into the areas of your business that need your attention. It also grants you peace of mind that your payroll administration is being done right.

Related: Knowing When To Outsource

SaveSave

SaveSave

Five Ways to Make Working from Home Work

Where do you office? If you’re like a number of Americans (myself included), you are working from home. Home is where the heart is and when it comes to building a business, it can also be a low-cost place to launch. Whether it’s a corner of the kitchen table or a spare bedroom, there’s really no better place to get your ideas on paper, and name out to prospective clients or customers.

According to The State of the Remote Job Marketplace report, there are now 3.9 million Americans or 2.9% of the total US workforce who are working from home at least half the time.This number represents a 115 percent increase from 2005 when this group included only 1.8 million. The report not only looked at the growing pool of freelancers and budding entrepreneurs, but also remote workers for a number of small businesses and large corporations. In fact, researchers suggest that the entire labor force ecosystem is being influenced by remote/freelance workers.

Making Working From Home Work For You

Discipline – The first thing you need to keep in mind when deciding to work at home is that it takes discipline. Trust me. When people find out that I work at home the first thing they ask me is how I get anything done. My answer is always the same, I like living IN a house, so I work every day so I can pay for said house. It’s just like punching the clock for anyone else – you have to have starting times AND ending times, and you have focus in between.

Boundaries – While you may feel disciplined to do the work in front of you, if you make the jump to full-time working from home, your friends and family will treat you like you’re on a permanent vacation. They will call, or even stop by, and have questions, requests, or invitations for a fun filled day. The boundaries have to be set, and you have to define working hours and the expectations you not only have for yourself, but for those around you.

Schedule Wisely – Sure, you can still meet a friend for lunch on occasion, but anything beyond that should be handled just like it would if you were still punching a clock. It’s also a good idea to schedule any non-work-related appointments (i.e. doctor, dentist or vet appointments) for the early morning or late afternoon, to prevent lost time and productivity. Even client or customer appointment should be stacked. Personally, I pick a day each week and do my very best to schedule any and all work and non-work-related appointments on that day.

Support – When you’re working from home it’s important to build a community, just like you used to have at the office, there are thousands of other women, just like you, who are building their dreams from the spare bedroom. Find them, connect with them, and shoot them a text, or a phone call. Whether it’s a quick chat or a monthly meetup for a glass of wine, having a community of like-minded women will help you stay focused and on track.

Take Care of Yourself – Believe it or not, it’s a good idea to get dressed and show up at your home office desk. Getting dressed reminds everyone, especially you, that you are actually working. It’s also important to get up and get moving. Set a timer and step away from your desk and walk around. When you’re working at home, you no longer have a parking lot to navigate, an office to move through, or copiers down the hall. The walk between your coffee pot and your desk is not enough.

While working at home can be a struggle at first, once you get into your rhythm there’s nothing like it. You have freedom, flexibility, autonomy, and you don’t have to ask for anyone’s permission to take a break and walk your dog.

Related: Battling The Home-Based Business Blues

SaveSave

SaveSave

SaveSave

SaveSave

Save

Help Wanted: Tips for Hiring Employees

Ideally, hiring employees should allow you to focus your time and talent on the areas of your business that require your attention.

Unfortunately, it doesn’t always work out that way. Small business owners often find themselves spending more time (and money) training, solving problems or correcting employee mistakes than when they were operating as a one-woman shop.Wobizzle Hiring Tips for Small Business Owners

The process of hiring employees may sometimes seem like a gamble. But there are some steps you can take to tip the odds in your favor.

Know what you need

Employees will bring the most value to your business when they have clear direction on what their jobs are. You may know you need help, but take some time to think about exactly what kind of help you need. Create a formal job description for the position. It’s okay if it includes the line “Other tasks as assigned by…” Your employee needs to know what your expectations are. If he/she has a list of ongoing responsibilities, it will save you the time and frustration of constantly having to tell him/her what needs done.

Temps Vs. Hiring Employees

If you’re not sure you need a permanent part-time or full-time person, you might consider using a personnel services agency to hire a temporary worker for times when you need some extra help. The benefits of hiring a temp are that the agency has already screened the worker for you and the agency handles the wages and benefits for the employee. You simply pay the agency for the service provided. But don’t assume that “temp” equals cheap. There is a cost for this convenience. If you really do need someone on a more permanent basis, trying to bridge the gap with temps may end up being more expensive than hiring employees on your own.

Hire Smart

When you post a job opening, you will likely be inundated with applications. Some will be qualified for the position. Many will not be. Others may be overqualified and be at risk for jumping ship the moment a better offer comes their way. Sifting through a mountain of resumes can be overwhelming, and setting up a parade of interviews is time consuming.

You need to bring only the best people in to be interviewed—preferably the top three applicants with the qualifications that you need to fill the job. To whittle down your options, set some guidelines on the front end of the process to help you decide which candidates will make the cut. Only pull resumes of applicants that meet those standards that you have established.

At this point, your main focus is filling the position, but you should be looking toward the future as well. While interviewing, try to pick up on cues that would indicate what type of employee the applicant would be. Does she seem to be just interested in a job, or does it appear that she is motivated by a challenge? Does the candidate seem to have a particular interest in what your business does?

Ask the right questions and be careful to not ask the wrong ones.  Avoid asking applicants illegal or inappropriate questions during the interview.

If your schedule and responsibilities don’t allow for you to take the time you should to hire the best person for the position, you might consider contracting an HR consultant to help. Many solo HR consultants are willing to take on the task of hiring employees, and can even help you onboard and train your new employees.

Five Subtle Business Blunders

We all make mistakes, but when you are running a business, mistakes can cost you money. While you may approach big decisions with care to avoid a costly error, sometimes it’s the little things that really count.   Here’s my list of the top subtle business blunders. I have witnessed all of them, maybe even committed a few myself. If you have employees, the list is worth sharing.

“Celling” it short. I recently had a life insurance agent visit me on a sales call. I had scheduled to give him 30 minutes of my valuable time. As he began his presentation, his cell phone rang. When he reached for it, I assumed he was going to hit the switch to send the call directly to voicemail. Instead, he answered it. Rather than politely tell the person on the other end of the call that he was in a meeting with a client, he engaged in the phone conversation as if I weren’t in the room. From my end, it didn’t appear to be urgent. He was on the phone for about five minutes—five minutes of my 30 minutes that I had graciously provided to him.   He didn’t apologize when he hung up, just picked up where he left off. Needless to say, he didn’t make the sale. In that single mindless action, he made me feel as if I was not a priority. Why would I purchase from him? What could I expect from him in customer service if this is the way he treated me in the sales process? If you’re in a meeting with a real, living, breathing person, turn the cell phone off. If for some life/death reason, you must take a call, at least let your client know in advance that there is a possibility of an interruption and sincerely apologize for the potential inconvenience.

Driving Ms. Crazy. If your company car has your company logo on it, don’t do anything in it that you wouldn’t want your granny to witness.   Don’t cut people off in traffic or provide a “middle finger salute” to those that cut you off. Don’t park in a handicapped space if you are not legally able to do so and don’t text while driving. You get the idea. The same rules (and many others) apply when you are wearing your business’ logo on your clothing.

No cards left behind. This one still gets me once in awhile. Obviously, it is important to always have a good inventory of your business cards with you at business functions, but a valuable networking connection can happen anywhere. Don’t let an opportunity slip through your hands because you weren’t prepared.

Follow-up failure. If you make an offer or a promise to a new networking connection or an established contact, deliver on it. If you don’t, you may be leaving money on the table. So many opportunities are missed because the follow-up didn’t happen.

All the world is a stage. And we can see the plots play out via social media outlets on a daily basis. You’ve probably heard the news stories of people getting fired from their jobs for bashing their employers on Facebook, Twitter, etc. I recently heard the story of a business that lost a huge account because an employee was posting some pretty hateful banter on a social media site about one of the business’ clients. You know how it ends. The client found out and decided to do their very hefty chunk of business elsewhere.   The employee got fired, but it will take a very long time for the business to recover the revenue lost and rebuild its reputation with the lost client and others.

Building a positive reputation for your business takes time and effort. And while one small misstep may not destroy your business’ reputation, over time, subtle shortcomings can chip away at what you are working so hard to build.

 

Stay in the Know!