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How To Become a Trusted Business

Trust is the cornerstone of all successful businesses. Demonstrating that you are trustworthy company is invaluable when differentiating yourself from competition and establishing a credible reputation. Building trust takes a lot of time and hard work, but there are plenty of things you can do to secure customers for life: Responsiveness Respond promptly to all clients and enquiries. So often clients are left feeling frustrated as they wait for salesmen and account managers to get back to them. Acknowledge receipt of emails and phone messages as soon as you receive them, even you if don’t have the answer immediately. Let them know you are dealing with the request and keep them in the loop. Transparency Keep clients up to date with action taken and next steps.  Always address any issues directly and don’t try to cover up errors. Explain what has happened, how you will handle it and the steps you will take to ensure the mistake won’t reoccur in the future.  If you treat your clients like intelligent, respected partners then your potential for repeat custom will skyrocket. Timeliness Delivering critical business items to clients quickly, safely and on time is essential to prove reliability. Delayed timelines, missed deadlines ...

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Stay On Top of Company Payroll

Your company payroll is most likely the most expensive expenditure your business runs into. Without quality workers, you are not able to thrive, but you also need to keep this cost point in check. You know what hours you need filled, so you do your best to make sure the shifts are covered. However, this doesn’t mean you are not going to run into potential problems along the line. By monitoring your payroll, not just on a bi-weekly or weekly basis but on a real time basis, you are able to avoid expensive problems. With the money you save, you can reinvest it back into the company and help grow the bottom line. Financial Problems without Real Time Payroll Monitoring There are a few different issues you may run into and not even realize it until too late. If you pay hourly employees, you schedule everyone so they receive the desired number of hours they want. You also probably make sure to keep these individuals from hitting the overtime mark. Paying employees time and a half is an expensive additive to your bottomline and, should this happen on a regular basis, can prove costly. While overtime on occasion isn’t avoidable, ...

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The Pros and Cons of Taking out a Business Line of Credit for Your Small Business

If your business is just getting off the ground or needs a little help handling expenses, a business line of credit might be an appealing financial option. Business lines of credit work similarly to personal credit cards: a lender gives your business a maximum monthly limit and you can draw funds from that amount to pay your expenses. Of course, your company will be expected to pay off this credit debt or pay fees or interest on the loan. The question is, would establishing a business line of credit be the right choice for your business? Consider these pros and cons to determine the best course of action for your company. Pro: Flexibility. Perhaps the clearest advantage of using a business line of credit is that it offers spending flexibility for your business—and in several different ways. First of all, when you can pay expenses with your line of credit, you can cover payments even when you don’t have cash immediately on hand. Secondly, a business line of credit essentially acts as a bank loan where you have access to a large loan amount but don’t necessarily have to spend all of it. Instead, you can just draw money from ...

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5 Tips for a Successful Salary Negotiation

salary negotiation

One of my favorite things to discuss is finding ways to earn extra money. Commonly I suggest people get a part-time job, or start a side hustle as a freelancer or by using another skill or hobby to make some extra money alongside a full-time job. But sometimes the best way to earn more money is by asking for a raise. If you want to increase your salary at your current one, salary negotiation is a dance you must either already know the steps of, or learn quickly in order to be successful. There are several factors that contribute to the salary of any job, and not all of them can be controlled by you, the employee.  Certainly your professional experience and level of education are key contributors to the amount of money you take home each pay period. But the area of the country you live in as well as the size of your employer can also affect your salary negotiation tactics, along with the current success of both your employer and yourself. Fortunately, there are some things you can do to make your salary negotiation appointment be more likely to work in your favor. Here are 5 tips ...

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Quitting Self Employment for a Traditional Job

going back to work full time

Except for the first two years of my career, I’ve been self employed. First as a small business owner, then as a contract optometrist. Being my own boss has been a great experience, but very soon I’ll be quitting self employment for a traditional job. Although this flies in the face of those longing to leave the 9-5 lifestyle, it’s the right decision for this stage of my life and career. Self Employment is Great Until it Isn’t I don’t regret being my own boss for all these years. Being in charge allowed me to take off when I wanted, leave work to pick up my kid, and control how much or how little I worked. However, years of managing employees, dealing with self employment taxes and paperwork, and having to work like a fiend before, after, and occasionally even during time off does wear you down. I am a huge believer in hustling. both in your day job and beyond. I don’t think I’ve ever had a traditional 40 hour work week. Even after cutting back on being an optometrist, I made up for the downtime with blogging and freelance writing. That was a game changer as we’ve paid ...

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