Find Your Competitive Edge: 6 Tips to Stand Out In Your Field

As a small business owner, you soon realize how important it is to stand out against your competition. If you don’t, what’s stopping clients and customers from brushing past you and going to someone else?

Having competition is part of the business world. There are many benefits to having friendly competition in your field. It pushes you to achieve greater goals and helps you move your business in the direction of success. However, focusing solely on the competition can become overwhelming and quite stressful.

Don’t let your business fall behind and ultimately live in the shadows of your competitors. With the following six tips from CBS-CBS.com, you can find your competitive edge and get your business at the forefront.

Price Adjustments

One of the main reasons a customer will go to one place over another is due to the price of goods and services. Adjusting your price is one way to gain a little edge over your competition, as a lower price is more appealing.

There’s a fine line when it comes to pricing, however. Going too low, and ends up destroying the quality of what you’re offering. If your goods are significantly cheaper than other places, it begs whether what you offer is truly worth the price.

Exceptional Customer Service

Many individuals will stay dedicated to a company regardless of the price difference because of its customer service. How you handle customer complaints and issues can shoot your business to the top. So, spend time focusing on how you can improve your customer service experience to make it better than your competition.

Quality Matters

The quality of what you offer is another significant way to give you a competitive edge. We live in a world where quality means something. Usually, customers are willing to spend the extra few dollars if they know it’s worth the quality.

Your Environmental Impact

Going green has never been more popular than it is now. If you show your clients that you’re economically conscious about how you conduct business, it will mean something to them.

Sustainability is more expected from companies today. However, that doesn’t mean every business follows suit. If you’re one of the few companies in your field focusing on being environmentally friendly, you’ll have the edge over your competition.

Creative and Original

Your business is there to solve a problem or provide a valuable service to your customers. For your company to stand out, you need to show your customers why you’re the best choice and how you differ from the rest.

Get creative with how you run your business. Originality is important, so you don’t look like you’re simply copying what everyone else is doing.

Have a Message and a Purpose

Why did you start your business? When you have a story and a message behind what you do, it creates a powerful connection with your customers. That is an easy way to build up trust and keep customers dedicated to you. Just make sure it’s an authentic message.

The above six tips are simple ways to help you gain a competitive edge. Notice how these points tend to revolve around the quality of your business. Show the value of what you have to offer and enjoy the increase in customers strolling in.

Like your reflection.

4 Tips to Help You Run a Successful YouTube Channel

YouTube – the second largest search engine available (second to Google). It’s a powerful tool that many small businesses forget or think the platform isn’t for them. However, we’re here to tell you that you should utilize YouTube to reach your audience.

We’ve said it before about the benefits of starting a YouTube channel. Today, we’re here to help you be successful. It’s a tricky platform to gain traction on. With dedication and planning, though, you’ll be able to utilize YouTube to promote and grow your company.

Try the following four tips from CBS-CBS.com and running a successful YouTube channel.

Create a Content Calendar

A content calendar is what it sounds like – a calendar you create that keeps track of all your content. YouTube likely isn’t the online social media platform you’re using (nor should it be). With so many avenues to take, it can get confusing and overwhelming.

Create a content calendar that maps out what you will post on social media and videos you plan to upload throughout the month. Have a separate section that breaks down your YouTube videos so you can plan them out ahead of time.

Consistently Upload

One of the worst things you can do for your YouTube channel is to upload periodically. If you want it to be successful, you need to have a consistent upload schedule.

A good idea is to start with weekly videos, if possible. Don’t set an unrealistic schedule for uploading multiple videos each week. Start at a reasonable level and work your way up if you want to.

Add Call to Actions in Your Video

Call to actions (CTAs) are a powerful statement that tells the viewer what you want them to do. You likely add them to your video description, but have you thought about adding them to your video?

Many YouTubers begin and end their videos with an introduction and a CTA to subscribe to their channel. Throughout the video, you can add CTAs to go to your website or social media accounts. YouTube has the option to add cards that allows the viewer to click and direct them to where you want.

Spend Time on the Title and Description

When searching on YouTube, the first thing you see is the video’s title, a few lines with a brief description, and its cover graphic. These are essential elements of uploading a video and are not ones you should quickly whip up.

Your title should include keywords related to your video. Remember, YouTube is a search engine. That means people are searching for specific words like they would on Google. To get your video recognized, include those keywords in the title and description of every video.

The cover graphic of your video should somewhat resemble what it will be about. It doesn’t have to be anything flashy, and sometimes less is more. However, it does need to grab the viewer’s attention and entice them to click on your video.

Have fun as you create and upload videos. YouTube has the potential for your business to reach a wider audience across the world, and eventually increase your revenue.

Worried About the Survival of Your Company? 5 Tips to Revive a Struggling Business

How often do you hear this – over half of new businesses will fail in their first year. That’s a scary statistic. However, it isn’t entirely true.

The recent numbers from the Bureau of Labor Statistics (BLS) show that in the first two years of operation, 20 percent of businesses will close. That number increases as the years go on, but it does show that you have a fighting chance.

Every business will go through some rough periods. Unfortunately, some companies can survive those difficult times while others end up closing their doors for good.

Is your company during those difficult moments and wondering how you’ll move forward? CBS-CBS.com has a few tips to help you revive your struggling business.

Take a Step Back to Identify the Issue

Before you can begin moving forward, you need to identify the problem. If you try to revamp your entire company without first determining where the issue truly lies, you could end up in the same position relatively quickly.

Look at when you were the most profitable compared to right now. What has changed since then? It could be the market is changing, and your company hasn’t, your management style shifted, or maybe it’s the economy, and your customers can’t afford to spend right now. Once you have that reason, then you can develop a plan.

Revamp Your Marketing Plan

When’s the last time you’ve taken a look at your marketing plan and seen those analytics behind it? Sometimes, all you need to do is freshen up your marketing strategy to engage with your current clients and reach new ones.

Adjust Your Business Model

Adjusting your business model can bring business back to life. However, it isn’t an easy task. As the world changes year after year, your business must adapt to these changes. If you’re still doing the same thing you did for the last few years and noticed a decline, it could be time to adjust your business model to keep up with modern times.

Boost Internal Moral

What happens behind the scenes of business eventually spews out into the public. That means, if your company culture is negative, your customers will soon pick up on that.

The consumer often wants to support companies that provide a happy, healthy, and encouraging work environment. If your team struggles to work together or simply don’t want to come to work, a morale boost could be what your struggling business needs to thrive once again.

Make Cuts

In some circumstances, cutting costs can help a business get back to thriving. Maybe you were once spending extra dollars on luxuries to make life a bit easier for you as the owner. If those additional costs are coming at the expense of your success, it’s time to make some cuts.

In other circumstances, though, making cuts is only a band-aid solution and not addressing the root issue. However, making cuts could give you the time to determine the actual problem that needs fixing.

Failure to control costs is one of the primary reasons a business fails. If you are aiming to have a 10 percent profit, that means you have to run your business so that your expenses equal 90 percent of every dollar you take in.  You need to create what is called a managerial accounting system that pays yourself first. You are entitled to the salary of what it would reasonably cost to run the company if you were hiring someone to run it for you as well as your predetermined profitability.  Together, your salary, plus your planned profit becomes the Total Ownership Return. By paying yourself first rather than getting paid what is left over after all the expenses are paid, it will create the internal management discipline to make the necessary decisions to cut costs so that your business can pay your what you deserve while becoming a profitable business for the long-term.

The tips above could help you get your business back to where it used to be and even more profitable than before.

5 Tip to Help You Reinvent Your Business During the Pandemic

There’s no denying that our world has drastically changed in the past couple of months. You could even go as far as to say that our work lives have changed as well.

How so? Well, many companies were forced to adopt a remote-working policy to cope with the pandemic or, ultimately, close doors. If you’re faced with that situation, wouldn’t you want to go the route that kept your business alive?

Has the pandemic made you take a step back and evaluate your business model? If so, the following five tips from CBS-CBS.com reviews may help you reinvent your company.

Make a Note of What Was Successful

You most likely have particular aspects of your business that works. Otherwise, you wouldn’t be able to operate. As you reinvent yourself, don’t completely shy away from what’s made you successful.

Make a note of all aspects of your company you’re happy with and has gotten you to this point. This isn’t to say you don’t touch them. However, it can help put things into perspective and also find ways to fine-tune them to be even more successful.

Make a Note of What Wasn’t Successful

On the other hand, you want to make a note of what wasn’t working. Every business will have some aspect of it that they could improve on. Those are the ones you want to focus on as you reinvent yourself.

Parts that need tweaking may not be obvious, so take time to genuinely evaluate your company. Even the simplest of things, like your hours of operation or your customer service policies, can make a significant impact on your success.

Start Brainstorming and Get Creative

Spend a day brainstorming different ways you can boost your business. Let yourself get creative here. You don’t want to restrict your creativity just yet. Any idea that pops into your head write it down. Later on, once you have a good list of ideas, then you can be more critical of them.

Discuss it Without Fresh Eyes

As the owner, you tend to be biased to your business, and rightfully so. It’s hard to take that step back and see where you need to improve on. Not only that, once you have your ideas for improvement list, but you may also think each point is the key to success when maybe it’s not.

Having a fresh set of eyes and ears to discuss things that can provide you with a valuable perspective you don’t have.  That’s the benefit of bringing in a professional business consultant to give you an objective, third-party view.  Business consultants also can share with you ideas that have worked in other businesses to save you from making the mistake of implementing an idea that is likely to fail.

Make a Plan

A big mistake to make is thinking your idea is the key to everything, and it’s time to dive in headfirst. What if that idea blows up, then what?

Make a plan before implementing any changes. Spend some time testing it out to ensure whatever you have planned will work. Start small and work your way up. You have a better chance of succeeding that way.

Reinventing a business isn’t an easy task to take on. Not every reinvention will be successful, either. However, the more time you spend thinking, brainstorming, and researching, the more set up you’ll be for a successful reinvention.

Could Flexible Working Cause A Lack Of Community In The Workplace?

Flexible working is becoming more commonplace. There has been a greater demand for a transformed work culture in this day and age due to the belief that a smarter and more modern approach will foster better business productivity while supporting a healthy work/life balance for employees.

It seems clear that the flexible work scenario isn’t going anywhere any time soon, and it comes in many forms. From flexible daily hours to home working and compressed working weeks, this style of employment is especially appealing to today’s workforce. So much so, that it has been suggested that in just a few years, the dominant form of employment will be flexible working.

The Benefits Of Flexible Working

It’s easy to see why flexible working is such a popular choice. There are well-established benefits associated with allowing workers to work more flexibly, and positive correlations with a higher level of commitment to the organization as well as better job satisfaction. When family commitments can be accommodated, the stress of commuting can be reduced and workload aligned to the energy cycles of the individual, employees are empowered and feel they have greater control over their working environment and schedule.

For the employer too, the evidence suggests flexible working can reduce staff turnover while also helping in the recruitment of top talent. It also helps to keep a successful team intact while enhancing the company’s image overall.

Yet, there are some disadvantages too that are often overlooked.

The Downside Of A Flexible Work Schedule

Flexible working can lead to the “always-on culture” which can be detrimental to an organization and its employees. Checking emails and responding to them out of office hours, and being available for work at any hour of the day or night may be a way to enhance effectiveness and efficiency, but it can also cause high levels of stress among workers that can impact negatively on psychological and physical health.

Nurturing A Positive Work Community And Environment

When a team can work together closely within the time and space they can generate the best creative energy. Being physically together permits intimacy, clarity, and spontaneity that, in turn, nourishes conviction, confidence, and understanding.

The answer to this is to have more flexibility about flexibility. Flexible working’s outcome should be a set of agreed targets that both employee and employer are on board with, that cover a mix of personal and professional priorities.

So, how do you go about implementing this practice within your organization? If you read Corporate Business Solutions reviews you’ll see that getting the right business consulting help can make an enormous difference to your company’s success.

Our team is well-positioned to give you the essential advice that you need to take your business forward into the future with modern and flexible working practices that reap all of the benefits of this way of operating but that avoid the potential pitfalls of a loss of community and an uncreative, incohesive working environment.

Seven Expert Tips to Prevent Business Fraud

Fraud prevention in the business world is more important than ever before. There are now even more opportunities to defraud businesses, so having a strong fortification for your organization against all the conditions that may facilitate fraud in your workplace is essential. With this in mind, here are seven expert tips that will stand you in good stead to protect your reputation, your profits and your business success.

Implementing A Top To Bottom Anti-Fraud Program

The first step to success when it comes to taking anti-fraud measures in your organization is to ensure that the program you choose is implemented from the top to the bottom. This is the best way to create a culture of fairness and honesty at every level of your company. A robust program begins with an ethical code, signed by every employee. It also encompasses anti-fraud policies, internal controls, training, and employee surveys carried out periodically to determine how much employees believe that their managers act with integrity and honesty.

Taking Anti-Fraud Training

Employees should receive hands-on, practical training to educate them about how fraud can be detected. They should be made aware of what they should be looking for, how the internal controls function and how any incidences of fraud should be reported.

Implementing Clear Methods Of Reporting

Over half of all fraud cases in the workplace are reported by workers. Therefore, implementing a clear and simple way to report fraud couldn’t be more important. Whether you put in place a web form, a dedicated email or a fraud hotline, you need to ensure every employee knows how to report suspected fraud.

Proactive Detection Methods

Anti-fraud efforts should be at the forefront of any organization. You should regularly send out messages to your team, conduct surprise audits, perform regular account reconciliations, and implement monitoring software that will detect any anomalies. In our Corporate Business Solutions reviews, we find that those companies that take on board the advice of our Certified Fraud Examiners to put in place proactive solutions find it quicker and easier to weed out fraudulent behavior than those businesses that rely solely on passive methods.

Internal Controls And Strong Auditing

Putting in place both strong internal controls and a robust auditing team can make an enormous difference. The auditing team must have sufficient authority and adequate resources to allow them to function effectively without any undue managerial influence. These internal controls should include:

  • External auditing of financial statements
  • Putting in place an internal auditing department
  • Managerial certification of all financial statements
  • External auditing of financial reporting internal controls
  • Reporting hotlines
  • Management reviews
  • Having an anti-fraud policy and an ethical code
  • Job rotations

Safe Hiring Practices

You should always be carrying out background checks when hiring new staff. Pay close attention to their criminal background, their references, and their credit reports to ensure fraud is prevented.

Put Employee Support Programs In Place

There are many reasons why employee support programs have proven to be valuable, however, when it comes to fraud in the workplace, they are effective in addressing many of the issues that result in “red flag behaviors”. When employees can speak freely about their addictions, their money worries or their financial problems, they can alleviate those issues before they lead to a destructive pattern of fraudulent behavior.

Limiting Your Fraud Losses

Limiting your fraud losses is vital if your company is to remain profitable. Here at Corporate Business Solutions, our team of Certified Fraud Examiners can help you to address fraudulent behavior within your organization so you can maximize your profits and limit your losses.