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Finding Work-Life Balance as a Small Business Owner

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As a small business owner, it’s easy to get caught up in the everyday tasks of work and forget to make time for at home. For your small business, it’s quite likely that you are not just the owner, but also the employee, the maintenance staff, and the customer service. You are everything to your company.

The problem, though, is finding a healthy balance between work and life. You don’t want to spend every waking minute of the day thinking about work or being at the office. However, you also need to dedicate a lot of your time for the business to succeed. How do you find a balance between the two?

Corporate Business Solutions Consultants understand the difficulties of maintaining a balance between the office and the home. We have four tips that will help you find that balance.

Ask for Help at Work

One of the first things you can do is to ask for some help around work. Whether that means giving a trusted employer more responsibility or hiring more staff, lightening up your workload will free up some time at home.

Some of the tasks that you could hand to someone else would be running the social media accounts and website, dealing with customer support, filing, bank deposits, or cleaning up the office.

Ask for Help at Home

If you cannot afford to hire additional employees at work, then ask for more help around the house. Many working families still have other tasks they need to complete once they get home. By asking for more help around the house, it will free up more time for you when you get home to do the things that matter the most to you and your family.

Some of the tasks that you could get help from family members include general housecleaning, grocery shopping, maintaining the yard, taking care of the family pet, or starting laundry.

Set Boundaries for Yourself

Setting boundaries for yourself not only will help you free up time for at home, but it will also prevent you from overworking yourself too. You could make a rule that after a certain time in the evening, work must stop. It could be as simple as keeping your personal phone number private from work.

Brainstorm boundaries that would prevent you from being at home. Include your family in this as well to have a different perspective. Once you have your list, keep it visible as a reminder.

Be Consistent

Once you become okay with asking for help around the office and at home, as well as setting those boundaries that stop you from working too much, you then need to be consistent with them. All of these steps will only do so much if you don’t maintain it.

If you have that trusted employee taking care of some additional work, don’t micro-manage them and get involved. You’ll just be putting yourself back to square one. The same goes for at home too. You need to trust the people you asked that they will get the job done.

As for your boundaries, if you are not consistently following them, they will never become a habit. Once it’s become second nature to put the phone or computer down at a certain point, you’re less likely to forget about it. Also, if an emergency comes up that requires your time at work that breaks your boundary, you know that it is an okay exception.

Why Your Business Needs Teamwork to Succeed

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Running a business is great and all, but if you don’t have a solid team behind you, it will be hard to take that business forward. A successful company has not just good management and a concrete business plan, but it also has a handful of team members that are fully supporting the idea.

As a leader, there is only so much you can do on your own. As the company grows, there will be more tasks to accomplish in one day. If you spread yourself too thin, you may achieve everything but not to the best of your ability. However, if you bring on a team, they can take over some of the load, and everyone will excel at his or her assigned job.

Corporate Business Solutions knows just how essential a team is to their company. Here are four reasons to emphasize the importance of teamwork.

Teamwork Brings New Perspectives to the Table

How often do you find yourself staring at the computer screen with a blank mind? Maybe there is a challenging task that you cannot figure out the best way to approach it. Running out of ideas can happen to the best of leaders.

Having that team provides new perspectives to not just the challenging parts of running a business, but to the simple everyday tasks as well. One member may have done one job a different way beforehand that was very successful while another member may find what a more efficient solution to what you’re currently doing.

A solid team can brainstorm off of each other to come up with new and innovative ideas that sometimes cannot happen on your own.

Teamwork Provides a Support System

When you have a team that can work together and enjoys each other’s company, you develop a support system that everyone can rely on. These relationships allow members to lean on each other when they need it the most.

The support system from a team is also an excellent motivator. The cooperation between everyone can help drive one another to push themselves a little harder than if they were by themselves. Some teams even excel from friendly competition that only comes from having a group.

Teamwork Improves Productivity

Early we mentioned how trying to do everything on your own will spread yourself too thin. Well, by having that team, you can delegate tasks to everyone which allows you to focus on the things that matter most to you – running the company.

When you delegate tasks to members who have the best skills for the job, you’ll start to see an increase in productivity. More people can do more things than one person alone. Especially when they all work together, the team turns into a well-run machine that can continue to accomplish everything asked of them.

Teamwork Provides Learning Opportunities

When you bring together a group of people to work side-by-side, it will turn into learning opportunities in two ways. The first is by brainstorming different ideas that other people may not have thought about.

The other learning opportunity is through errors. Mistakes are inevitable. However, if dealt with properly, the team can someone’s mistake as a way to avoid them in the future.

How You Can Turn a Passion into a Small Business

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Do you have a strong passion for something? Maybe it is a hobby that allows you to build things or have a love for animals that could open up different paths for you. Either way, many people will take their passion for something and turn it into a business.

Have you ever heard people say to do what you love and you’ll never work a day in your life? That old saying can definitely ring true for those who follow their passions and make a career out of it.

If you truly love something and won’t lose that passion over time, here are a few ways to help you turn that passion into a small business.

Have a Vision and Stay Focused

It’s one thing to be determined to succeed. It’s another thing to stay focused on a clear vision and develop a plan. Coming up with that initial business plan may be one of the hardest parts of getting your business going. Narrow down your vision into something that is feasible for where you are in life right now.

Don’t Dive Head First

One thing you don’t want to do is dive right in before testing out the water a bit. Being a bit cautious could help save you a lot of money, and save you from losing this passion. Develop a business plan and ensure that it will honestly work. Speak with business professionals, like Corporate Business Solutions Consultants, to see if what you have in mind will succeed as a business.

Make Sure the Timing Is Right

Now, you don’t want to wait around forever to start your business. However, you do want to make sure that the timing will work with your current life situation. If starting your small business may lead you to bankruptcy, it may not be a bad idea to wait a bit. That doesn’t mean you’re giving up on your passion. It just says that you are thinking clearly about your decision and want to set yourself up for success.

Understand You Won’t Love It All

Even though you are passionate about what your business will focus on, that doesn’t mean you are going to love every part of it. When you start a small business, there will be things behind the scenes you will need to do. They won’t always be as exciting, but they are essential to the success of your business.

Find a good balance between doing the administrative duties and focusing on what got your business idea going.

4 Challenges Many Small Business Face

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Starting up and successfully running a business is not an easy task. There will be hardships and tough days, some worse than others. However, the owners that can keep their business moving forward through those challenges are the ones that are likely to succeed in the business world.

If you are a small business owner, here are four challenges many businesses like yours will face.

Exhaustion

Starting up a business is exhausting. Unless you can afford to have a large team helping you out right from the start, small business owners tend to have to put in the most amount of work with the longest hours.

It can be scary to leave your business in the hands of someone else for you to go home, especially at the start. So, quite often the owner will spend the majority of their time at work to ensure everything runs smoothly. All those hours can really run you down and lead to exhaustion.

Managing Money

The finances of starting a small business can be frightening. Will you have enough money to keep the doors open, or is your business close to bankrupting you? It may not always be easy. However, with good money managing skills, you can quickly get yourself into a position where there is enough income coming in for you to relax.

Building Up Clientele

At the start, a prominent challenge business owner’s face is building up their clientele. When you first start out, chances are it will be your close family and friends that know about your business. Expanding past them is difficult.

Although you want to grow your customer base, you want to do so at a speed your business can handle. Growing too fast and you may lose sight of the customers who helped start your business. However, expanding to slow and it could be difficult to make ends meet.

Losing the Passion

Quite often there is a burning passion behind the business owner that got them to start their company. It is really easy, though, for that passion to fade as the hours get longer and the work gets harder. That is the time, however, that you want your passion to really shine through. That is what will help keep you motivated to keep pushing through any obstacles that get in your way.

Every business owner will face a challenge at some point in their life. How you handle them, though, is what will keep your business thriving. As a small business owner, you can expect to have some difficulties come your way. By getting the help you need, you’ll be able to push through them. CBS-CBS.com is here to help.

6 Ways to Help Keep Your Best Employees Around

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Business owners and managers can probably agree that trying to keep their best and brightest staff members around is highly important. You go through the process of scoping out the perfect employee and train them, all in hopes that they will stay loyal to your company.

Having to replace key staff members can be fairly pricey for the company. You can expect to pay at minimum, 20 percent of the positions wage trying to fill it. That is not a process you want to go through very often.

That is why it is crucial to the success of the company to maintain a steady team. Corporate Business Solutions recommends implementing the following tips to help keep your best employees around.

 

Trust and Respect Your Employees

One of the best things you can do for your staff is to show them that they have your complete trust and respect. Why? When team members feel respected in the workplace, and know that their manager trusts them to do their job as they see fit, it’s an empowering feeling. That is a feeling that will keep staff members happy.

Be Their Support

If your team doesn’t feel like they have your support, whether it be in workplace conflicts, client/customer issues, or even at home problems that are affecting their daily work, how likely are they to stick around? Having support from upper management is a key step in maintaining your top employees.

Talk to Them

Open communication between staff and management is critical. If your team doesn’t know what your expectations are, or they cannot talk to you, there’s a good chance you’ll be hiring new members soon. Communication, both private and in meetings, is essential to keep the work on track and to support your employees.

Listen to Them

Just as communication is important, so too is listening to your employees when they talk. Even if it is about something you prefer not hearing, it could be valuable to improving your relationship with them. They may also have excellent ideas to help the company.

Have a Competitive Wage

Loyalty to a company is only part of what will make employees stay. They also need to be able to support their family. Having a competitive wage that is fair for the work they do will help staff members be happy with where they are at.

Show Flexibility

It can be challenging for employees to remain happy and loyal to their company if there is no room for flexibility. Family emergencies will come up, stress days will need to be taken, or taking on a task in a different way that is better for the employee. You don’t want to fold over to every request, but you should show that you can be flexible and accommodating.

5 Amazing Email Marketing Tips

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If you’re an entrepreneur who has recently launched a startup business, chances are you don’t have as much time on your hands as you want. However, investing in email marketing is an important facet of your overall marketing strategy.

Corporate Business Solutions experts recommend the following quick and efficient ways to master email marketing, without wasting precious time.

Take Care of Your List
Many entrepreneurs get so caught up in completing the day-to-day tasks that they fail to tend to their email list. You want to make sure that you are always collecting emails and segmenting subscribers (so they get emails that mean the most to them). Without consistent campaigns, the hard work you put into building an email list is wasted.

Make Emails Mobile-Friendly
While this may seem obvious, testing your email campaigns on tiny smartphone screens only takes a quick second. After seeing how your emails look, you can either leave the emails as they are or make improvements.

As expected, if a smartphone user can’t see your emails the right way, you won’t see a high click-through rate with your mobile audience.

Only Include One Call to Action
You’ll never want to ask your subscribers to do too much in the emails you send them. This may overwhelm them and cause them to take no action at all. When you send out an email campaign, make the subject line clear with a concise and relevant copy. Furthermore, you should include one call to action for subscribers to perform.

Always Offer an Incentive
It only makes sense to give your potential subscribers something in return for their email address. People absolutely adore the thought of getting something valuable in return for their personal information. You can try offering a free e-book or a coupon to encourage people to sign up for your mailing list.

Personalize Your Campaigns
If you inquire about people’s names when they subscribe to your mailing list, you should use them when you send emails. Personalizing emails, even if just in the subject line, help build a long-lasting relationship between you and your subscribers. Ultimately, this will help improve your open rate.

Integrate Social Media
When you add social media buttons to your email campaigns, it makes it easy for people to “like” or “follow” you. This also gives them an opportunity to share their favorite content and products from your brand to those who they know and love.

5 Great Ways to Save Money

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While there isn’t a perfect formula for starting a business. different approaches work for different people. Having said that, there’s a great deal of value in cash flowing a business and avoiding the burden of debt on the front end. In order to effectively fund your own business, you have to master your savings habits and attain a strong grasp of your financial situation.

Corporate Business Solutions experts recommend the following tips to saving money in a small business setting. Considering using these today to better improve your cash flow.

Eliminate Your Debt

Sure, nobody wants to discuss the dreaded topic of debt. While we all seem to have it, very few of us ever directly confront it until it becomes too much to handle.

Just imagine what you could do if your debts were gone. All of a sudden, you’ll feel like you got a raise. Suddenly all of that money that was going towards repaying a debt can be put towards something else, such as starting a business.

Reduce Your Discretionary Spending

One of the best ways to pay down debt on a limited income is to slash your discretionary spending and put that money towards your debts.

Between eating out and online shopping, you should be able to save a few hundred dollars per month. Over the course of a year, this can add up to a significant amount of money.

Automate Savings

It’s easy to get so caught up in spending that you don’t even think about savings. Over time, this can have some pretty traumatic effects. And while there are plenty of ways you can deal with this issue, automating the savings process is one of the smartest options.

Ask Yourself THE Question

When you find yourself in a store and before placing something in your shopping cart, ask yourself this important question: “Do I really need this?”

Most of the time, the honest answer is generally “no.” While you might not like the answer, it’s what you need to hear in order to avoid spending money on things you don’t need.

Reinvest Profits

While this may seem simple, it’s often very challenging. Sure, your natural inclination is to start spending the money you make from your new business. However, it’s a much more logical practice to reinvest your profits. This will allow you to continue growing without needing to take on debt.

4 Ways Your Store Can Adapt During The Retail Apocalypse

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Sure, there are many rumors surrounding retail’s demise. Having said that, these rumors are largely exaggerated. According to Deloitte, in 2017 alone retail sales improved by more than three percent. The GDP, to compare, grew by just over two percent.

Nonetheless, there are some significant changes to which retailers need to adapt and understand.

There is both good and bad news.

The Good News

Over ninety percent of retail sales still take place in your good old-fashioned brick-and-mortar stores. Despite digital retail being projected to grow nearly twelve percent, in-store sales are also projected to grow by almost two percent. This is fantastic news!

The Bad News

Sure, traditional retail may certainly be facing a devastating apocalypse or, at the very least, a huge transformation.

Why is this?

Historically, shoppers have been split into two explicit groups: high-income consumers and then everybody else. While eight out of ten Americans’ incomes have remained the same since 2007, the cost of living has gone up significantly.

Furthermore, technology has played a huge role in increased costs.

So, what does this mean?

Well, according to a recent study, eighty percent of buyers have less money to spend on retail store items, such as clothing and accessories.

Courtesy of Corporate Business Solutions experts, let’s take a look at four proven ways that your store can succeed during the retail apocalypse.

Don’t Cater to Everyone

According to that same study by Deloitte, there are three types of retailers:

  1. Premier retailers that deliver value via premier product and experience offerings;
  2. Price-based retailers that deliver value by selling at the lowest possible prices and clearly communicating that proposition to customers
  3. Balanced retailers that deliver value via a balance of price and/or promotion.

Based on the information above, know who you are and deliver it properly.

Prepare to Go Premium

There are many opportunities for small retailers in the premium category. High-income consumers not only spend more money, they also tend to patronize more retailers. Think about this one.

Think Psychology

It’s easy to become infatuated with the differences between Gen X and Gen Z. However, shopping tendencies are based more on the income level that on generational behavior. In other words, a consumer’s economic status has a much greater impact on their shopping habits than you may think.

Establish an Online Strategy

If you don’t already have a strong digital presence, the time is now to start building one. If you’re not ready to sell online, which you should be, solidify your online marketing and advertising strategies. This will help you attract your target audience.

To learn more, visit CBS-CBS.com.

Five Critical Tips to Hiring

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We know. Hiring new employees can be a very time-consuming and resource-draining process for any business. However, it can be particularly challenging for small businesses with limited means. For a small company, each new hiree has a significant impact on the business, whether it be negative and positive. As a result, it’s critical for small business owners to have the right approach to hiring in order to avoid mistakes.

If you are looking to take the right steps when hiring, consider the following pointers from our Corporate Business Solutions experts.

Be Very Candid

The first step to ensuring that potential hires are truly ready to take on the duties is to be as clear as possible. You’ll want to inform them of the day-to-day tasks and share the company’s goals as well. Furthermore, it’s important to include details regarding salary and benefits. In addition, be candid about any challenges that he/she might face. Being as candid as possible about the position helps you hire the right people who will last a long time.

Use Connections

You might be able to find great candidates by contacting people you already know in your field. For example, calling or emailing business colleagues and/or creating LinkedIn posts is an effective way to let people know you’re hiring.

Establish Your Company Culture

As mentioned, each employee has a significant impact on the culture of a small business. Remember, you can teach skills, but not personality or a tireless work ethic. Take time to establish company values and the look for these qualities in your candidates. You’ll want to address your company’s values during the interview and also gear questions related to those values.

Measure Commitment

You’re really going to want to understand whether or not a potential hiree is truly committed to working for you before you put that offer on the table. Focus on little gestures during the interview and try to understand how enthusiastic the candidate really is about the job opportunity.

Implement a Trial Period

It’s important to implement a trial period prior to making a full commitment. You might want to consider having new employees sign a short-term contract or hiring them as freelancers. Ultimately, this will help you determine if he/she is the ideal candidate for the job before you make any long-term commitments. Furthermore, an effective trial period can be a great way to give both new employees and employers the right amount of time in order to make informed decisions.

To learn more, visit CBS-CBS.com.

6 Tips for Bootstrapping a Startup

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With any startup company, obtaining proper funding is usually the biggest challenge. Having said that, there is a myriad of routes that small businesses can take outside of venture capital.

For the best approaches to fundraising, Corporate Business Solutions experts recommend the following six tips for bootstrapping a startup. Keeping these tips in mind will put you in great standing.

Find Mentors 

Seeking out mentors that can advise you on your journey is super beneficial. In doing so, be sure not to limit yourself to where you look. A mentor can be anyone from a friend or family member to even a co-worker. Ultimately, you want to find people who have more expertise than you do.

Establish a Business Plan 

You always want to think things through and have a vision. Creating an actionable business plan and following through with it will land you in a great place. Having a business plan will allow you to reach both short and long-term goals.

Track Expenses 

When you first launch your business, you want to be as frugal as possible without cutting necessities. You won’t learn the financial ropes and understand the costs that are associated with running your business. You also want to consider re-investing the money you make to continue to grow the business.

Key In On Operations

 Getting into the nitty-gritty details of your business is essential. You want to be able to lay the groundwork in order to get to where you want to be. Take the time to focus on marketing, accounting, and human resources.

Do It Yourself (What You Can)

 Yes, of course, you’ll want to outsource when you have to. Having said that, during the onset of your startup you’ll want to complete as many tasks as you can on your own. Not only will you save money, but you’ll also learn the indispensable ins and outs of your business so you can properly train people later. Trust us when we tell you that doing things on your own (initially) will benefit you so much later on.

Assemble an All-Star Team 

As a new small business, you’re going to want to surround yourself with great employees who share a similar passion and vision. You want to hire people who buy into your mission and understand the importance of multi-tasking. Ultimately, your team is the component that will take you to the promised land. To learn more, visit CBS-CBS.com