6 Professional Tips To Help Employees Grow and Develop

Posted on November 24, 2022

Anyone can benefit from professional development—it builds connections, refines skills, and sets the participant on track to higher achievement. For that reason, knowing how to help employees grow can be profoundly beneficial. That said, it isn’t always easy. But if you want to know how to help employees with career development, the following six tips […]

Anyone can benefit from professional development—it builds connections, refines skills, and sets the participant on track to higher achievement. For that reason, knowing how to help employees grow can be profoundly beneficial.

That said, it isn’t always easy. But if you want to know how to help employees with career development, the following six tips can be your starting point.

How To Help Employees Grow Professionally—6 Tips

Although every company is different, the following employee development suggestions can give you a sense of what support is needed at work as you figure out how to help employees grow professionally.

1. Start With an Objective

As with any company procedure, it’s always best to direct your actions based on a goal, not the other way around. 

Figure out what your company and your employees need. Are you looking to cultivate the next generation of managers? Do you just want everyone to be a little bit better at their jobs? Are you seeking holistic development, or focused on concrete deliverables?

Once you know your priorities, you can structure your initiatives around them as part of a coherent professional development program.

2. Know the Difference Between Training vs. Professional Development

When considering the question “how can managers support employees,” you’ll need to distinguish basic employee training from more complex professional development. The former often has concrete objectives and firm requirements, while the latter tends to be more open-ended, networking-oriented, and personalized.

It’s an important distinction, if only because it helps you get your employees enthusiastic about growth initiatives. 

When they learn you’re launching projects for professional development, they might associate those words with mandatory training. But you want them to see it as a growth opportunity.

3. Meet Employees Where They Are

As much as you want employees to grow, you must appreciate their uniqueness. If you’re more focused on end goals over progress, you’ll inevitably be disappointed in their work.

Furthermore, meeting employees in their current capacities can help you set practical goals. An employee who loves to write, for example, might do better in a communications workshop than in a seminar on advanced accounting—and you should support them in that.

4. Challenge Them Productively

On the other end of the spectrum, one of the best ways to improve professional development is by humanely challenging them. It can be all too common to feel inadequate or impotent at some point in one’s career. As a supervisor, you can intervene by encouraging staff and communicating that you believe in their potential.

5. Put Your Money Where Your Mouth Is

As an extension of the last tip on how to help employees grow, it’s essential to actively show you believe in your staff. To help them develop their skills and confidence, let them take the lead on presentations, new projects, or personal initiatives.

6. Respect Soft Skills

Remember that not all professional growth means accumulating hard skills. Soft skills, the competencies that are transferable across different settings, can also be a developmental end goal. 

For instance, if your organization has the resources, you could pay for an employee to get a master’s degree. Though some may pursue business degrees, others gain equal (or more) benefit from degrees that emphasize soft skills, like English.

Employee Growth and Development Ideas 2023

So, how do you encourage employees to improve? With these six tips as your starting point, you’re already on the right track to encouraging productivity, keeping your company fresh, and learning how to help employees grow with you.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Top 3 Apps To Have in 2022 to Stay Productive

Posted on November 24, 2022

Do you need to know the top productivity apps? Whether searching for the best productivity apps in 2020 or recent years or only want the best productivity apps for iPhone, we have everything you need to know. Staying productive is a crucial part of stress management. Stay on top of the game with the top […]

Do you need to know the top productivity apps? Whether searching for the best productivity apps in 2020 or recent years or only want the best productivity apps for iPhone, we have everything you need to know.

Staying productive is a crucial part of stress management. Stay on top of the game with the top three free productivity apps.

What Are Your Productivity Goals?

Consider your goals before downloading an app. Students might consider an app with a scheduling feature, while small business owners prefer a task-based app.

The Best Apps To Increase Productivity in 2022

Consider downloading these top apps to increase your productivity in work and life.

Todoist

Todoist is an app specifically for to-do lists. It’s one of the top productivity apps on the market today, and you’ll love the interactive and efficient features.

The app lets you organize your to-do list to the finest detail. Create a sub-task to prioritize your assignments, sort tasks into categories, and add significant due dates to a schedule.

Todoist syncs on Apple Watch, Android, and Windows, so you’ll never miss a deadline or task. The simple, appealing interface makes the app easy to use.

The Todoist app lets you collaborate with teammates and manage up to five projects on the free plan. Upgrade to the premium membership to enjoy 500 projects and collaborations with 50 different users.

Zoho Projects

Check out Zoho Projects, a project management system that will improve your work and life productivity. It’s popular with small business owners, and the tool boasts more features than any other product management app on the market.

Keep track of your task list, input items into a project database, and communicate with teammates efficiently. Zoho Projects has tons of customizable options, and you can make the interface ideal for your use.

The Zoho Projects app has a timesheet feature where employees can track billable hours and record overtime. Also, consider integrating Zoho with an app you already know and love. Zoho Projects syncs with Microsoft and Dropbox, and the program is also one of the best Google productivity apps.

Notion

Whether you’re a writer, a student, or you only want to increase your productivity, Notion is an essential app. You can create to-do lists, calendars, work tracking sheets, and more with the Notion app. The program is among the top productivity apps for Android and is one of the best apps to increase productivity.

Choose from hundreds of unique templates like the Habit Tracker, Travel Planner, Company Goals, or Lesson Plans. The app syncs between your devices, so you can use Notion on your laptop, phone, or tablet.

The Notion app can help streamline your personal and professional life. Organize small business loans, create a directory of your employees, or craft a monthly reading list. The basic plan is free, and the pro plan is free for students with a valid university email address.

How To Be More Productive Using Apps

Whether you need Mac productivity apps or the best productivity apps for iPad, productivity apps are essential for success at work and school. However, we recommend keeping your interface organized and your schedule simplified to avoid spending too much time on the apps.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

3 Tips for Post-Pandemic Prosperity

Posted on November 17, 2022

The COVID-19 pandemic was tough on individuals, businesses, and economies everywhere. Organizations had to adjust their operations to stay afloat. In a post-pandemic world, companies have to make more changes to secure their growth in the long term. For example, you may have to alter how you approach marketing during a pandemic and after. As […]

The COVID-19 pandemic was tough on individuals, businesses, and economies everywhere. Organizations had to adjust their operations to stay afloat. In a post-pandemic world, companies have to make more changes to secure their growth in the long term. For example, you may have to alter how you approach marketing during a pandemic and after.

As a business owner, you must take time to regroup and think about running a successful firm in the new world. You might wonder what measures to take to ensure post-pandemic prosperity. Keep reading for a breakdown of actions to take to thrive in the new normal. 

Economic Recovery After COVID-19: Trends in 2023

The state of a nation’s economy affects businesses and individuals alike. Thus, effective economic recovery after COVID will benefit both these groups. Here are some trends for recovery following the pandemic.

Higher Investments

The government plays a significant part in economic recovery after the pandemic. They can increase investments to revive the economy. 

They may infuse capital into the banking sector to encourage investment. Partnerships between private organizations and the government can also benefit the economy.

Focus on Marketing

The economy before and after COVID is quite different. Before the pandemic, economic stability and growth may have positively impacted your business. Post-pandemic, the economic challenges may also trickle down to your business as the world recovers.

To stay afloat, you may get tempted to cut back on marketing expenditures. However, that isn’t the best choice since you need to reach your clients through marketing. Instead, you can examine operational expenses first and see where you can trim them down. 

Keep Track of Your Cash Flow

You must focus on your business’s cash flow. Doing so will ensure you have an accurate picture of how much profit you get. You may falsely know your firm’s position if you don’t understand your cash flow.

Thus, you may make decisions that end up harming the business. You must take stock of all your business’s expenditures if you’re to enjoy post-pandemic prosperity.

How To Increase Business Growth After COVID-19

You must change how your firm functions to serve clients better when getting back to business through a pandemic. Developing new strategies will help you care for employees and meet customer needs. It will also boost the overall health of your business. 

Here are some answers to how to increase business growth after COVID:

Strive To Understand Your Customers

The pandemic caused changes in customer behavior. So, you need to understand which kind of customer purchases your goods and what drives them to make a purchase. Doing so will help you deliver value to your clients. Thus, it will boost sales leading to business growth.

Retain and Hire Qualified Employees

As you try to grow your business in the uncertain post-pandemic era, you need qualified employees. Their expertise will help you beat the problems that arise. So, make sure you retain and hire dedicated and skilled workers.

Look at Your Competitors

Your business may experience periods of slow growth after COVID. As you grow, you’ll need ways to measure how much progress you’ve made. 

Researching the growth of competitors is an excellent way to measure your performance. It can also lead you to discover new growth strategies essential for post-pandemic prosperity.

3 Effective Tips for Post-Pandemic Prosperity

A crisis like the pandemic can fuel future business success. That happens if you take advantage of the opportunities it presents. Here are some useful tips for post-pandemic prosperity for your business. 

1. Take Advantage of the Power of Social Media

You can use social media to connect and engage with customers. Having a social media presence and following can help you understand your clients. It can also be of assistance in anticipating what they need. 

An online presence may help foster trust with your customers boosting customer loyalty. Some online platforms can also help increase sales by allowing you to set up an online store. Such innovation helps you reach even more customers and stay connected to them. 

2. Keep Investing in Technology

During the pandemic, technology played a crucial role in keeping businesses afloat. In the post-pandemic era, technology can propel organizations toward long-term success. It helps businesses meet customers’ needs in many ways. 

Comprehensive websites, online shopping, and apps improve the customer experience. Technology can also help you reach new markets and clients. It also makes it easier for you to manage your business operations. If you select the right technical solution for your organization, you can enjoy the following:

  • Reduced costs
  • Effective operations 
  • Increased efficiency. 

When combined, these benefits lead to higher revenue and long-term prosperity.

3. Prepare for Future Business Disruption

One thing businesses can learn from the pandemic is that disaster can strike at any time. Thus, you need to be ready in case of any future disruptions. Firms with a business disruption response plan can respond swiftly and effectively. They are more likely to maintain stability in the face of disruption.

But, according to a study, 95% of businesses need to improve their crisis management abilities. Strategic planning is something that all companies must take seriously. To ensure you’re ready for a disruption, you can:

  • Create a team to respond to crises (they will act quickly in case of disruption)
  • Develop a plan that allows you to respond to problems effectively
  • Keep assessing and refining your plan whenever disruption occurs

Examples of Post Pandemic Prosperity for Small Businesses 

Following the pandemic, the future of your business may seem bleak, but there are many examples of post-pandemic prosperity. Entrepreneurs created more online microbusinesses during the pandemic than before. The shift to e-commerce fueled this growth. 

Your business can grow if you can identify opportunities to do so. Staying agile in an ever-changing world ensures your business’s success. 

Wrap Up 

Navigating the post-pandemic era will require businesses to change their operating models. So, you should analyze your business model to make sure it works. If it doesn’t, make the necessary changes and implement new strategies. 

COVID-19 changed how businesses operate. However, it also uncovered new growth opportunities. Identify them and apply the right strategy to ensure your business’s post-pandemic prosperity. 

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Why Company Culture Is So Important To Drive Business Success

Posted on November 10, 2022

The success of a business comes from many factors. Strategic planning, organization, and online software can help improve a company’s productivity. However, company culture is a trait that can’t be bought or manufactured. It is a natural occurrence between coworkers that shows how we interact with one another in a workspace. While some managers focus […]

The success of a business comes from many factors. Strategic planning, organization, and online software can help improve a company’s productivity.

However, company culture is a trait that can’t be bought or manufactured. It is a natural occurrence between coworkers that shows how we interact with one another in a workspace.

While some managers focus on the statistics to drive their success, others look towards the team’s strength and how well their employees get along.

This article will teach you the importance of organizational culture, the major components of achieving company culture, and how beneficial it is for your business’ success.

What Are the Elements of Company Culture?

Productive company culture goes beyond more than planned meetings and chain emails. 

Developing a unique company culture depends on the people you hire and the policies you implement around the workplace.

Here are some key elements to remember when establishing your company culture.

Communication

A working environment that practices good communication can remain an efficient business throughout its lifespan. Employees should feel comfortable with each other to share information and business details.

Strong communication acts as a form of trust between workers. Company culture builds upon a bond that allows people to make connections that can last beyond working hours.

Without communication, business meetings and transactions become sluggish and slow the workflow.

Environment

The workplace should be an environment that’s inviting to all employees. The office’s atmosphere should provide positive vibes that are welcoming and lack any judgment.

The environment can be both mental space and physical space. Some managers can set up areas designed to separate from the work and allow workers to decompress.

Finding the balance between work and comfort can be challenging, but it can boost worker morale and improve productivity in business.

Fairness

One of the main attributes of maintaining company culture is fairness for all employees.

Fairness can apply to several factors, like the rules and policies of the workplace. Favoritism shouldn’t make anyone above the guidelines or give them an upper advantage over coworkers.

Fairness also exists in pay and benefits. People get a sense of community when they know they are getting the same treatment as everyone.

What Is the Most Important Part of a Company Culture?

The employee must feel they are safe to express themselves and their personality without being judged. They shouldn’t have to hide mistakes. They should be supported in order to evolve and progress. 

People spend the majority of their awaking hours at the office with their coworkers, so it must be a pleasant place to be at. 

Can Culture Drive a Business to Success?

A positive space that elevates moods and expresses the value of its employees can push employees to deliver superior results. Companies that lack company culture are less motivated to work and find ways to slack off and avoid committing to their duties.

Depending on how you run the office, you can shift the workplace to your preferred environment and recruit good people.

What Are the Benefits of a Positive and Strong Culture?

Company culture remains relatively new to the business world, so people don’t understand the success it can bring.

Here are a few benefits businesses can earn from building a growing company culture.

Fast Productivity

When the workplace is comfortable and engaging, workers are motivated to put in 100% of their efforts to their jobs.

If your company requires fast and satisfying results, improving the company morale can help.

Respected Reputation

As businesses adapt to online appeal and services, customers get a better view of the brand and how the company runs its business.

More importantly, consumers can judge a company based on how they treat its staff and employees.

Are the workers paid fairly? Do the company policies promote fairness and diversity among all employees? Is the workplace a safe environment that looks out for the well-being of everyone inside?

These few questions showcase the general impressions of the consumers. If these conditions exist, public opinion shifts towards a positive experience and boosts brand recognition.

Attracting New Talent

The image of a company that treats its workers well has the potential to reel in workers with incredible talents and work performance.

A company with no company culture has a higher chance of attracting workers with no motivation to work as a team. Coworkers will keep to themselves and get through the way with minimal contact.

A positive company culture attracts workers who engage and openly share their thoughts and opinions. Newcomers can learn to respect the workplace and earn their keep to remain in this trusting community.

How to Build Company Culture for Successful Businesses

It’s never too late to begin creating a company culture around the workplace. The process might require internal changes within the group, but the results are worth the effort.

Here are some tips to help you build your own company culture.

Employee Feedback

The best way to change the corporate culture is by asking the workers who will be affected by these changes.

You can send a quick email inviting all staff members to input their thoughts about what can make the workplace more comfortable.

Not only will these answers provide you with ideas, but it gives the impression that you value your employees and their contribution to shaping the company to shared ideals.

Picture Your Ideal Company Culture

Ultimately, only you will have the power to shape your desired company culture. The easiest method to change is by comparing your dream workspace with the current one.

Evaluate the status of the business and see what works and what doesn’t. Is this a company that needs more teamwork? Are the rules one-sided and don’t meet the needs of every employee?

Building a respected company culture involves looking beyond what exists and thinking about the well-being of the employees.

Recognize Achievements and Value

You can improve your company’s morale and drive by recognizing achievements in the workplace.

Whether you acknowledge success through award ceremonies or annual bonuses, you’re showing interest in your employees. People enjoy recognition and being valued once in a while for their hard work.

Inclusion in the office makes them feel like part of the corporate family you are building.

Examples of Impact of Culture on Business in 2023

Let’s explore some practical examples of company culture and how they can impact businesses.

Work–Life Balance

A company that respects the employee’s personal time will receive commitment in return. If a personal emergency comes up and the employee feels supported by their manager in terms of taking time off, they will happily work extra hours when the need arises.

Flexible Hours 

Many of us have to juggle work and children. And school hours many times don’t match the office hours. Also, some people are more productive in the morning or in the evening. If a company allows their employees to adjust their working hours to their personal needs, they will get more from the employee.

Conclusion

The reason why company culture is important is that it builds a positive environment for everyone to thrive. Implementing a space with connections between coworkers and good values can bring success to any company willing to try.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Ways to Maintain Leadership While Working Remotely?

Posted on November 3, 2022

Managing a team remotely during COVID has led many companies to look for strategies to maintain leadership while working remotely. Some managers allow workers to become self-independent and work their hours, but a company still needs a functioning team. Group leaders are essential to micromanaging a team, but with the introduction to remote work, it’s […]

Managing a team remotely during COVID has led many companies to look for strategies to maintain leadership while working remotely.

Some managers allow workers to become self-independent and work their hours, but a company still needs a functioning team.

Group leaders are essential to micromanaging a team, but with the introduction to remote work, it’s harder to maintain a sense of control.

This article will give you tips on performance management for remote workers and some work-from-home strategies for companies.

The Challenges of Remote Leadership

Commanding a staff of workers from a distance is challenging for any supervisor. No one understands the preparation it takes to manage a remote team.

Here are some issues you can expect when working with a remote team.

No Face-to-Face Supervision

Working in person, some employees feel pressured to work harder with their boss around the corner. 

In a remote position, the employee has no supervisor watching over their performance unless it’s a scheduled meeting.

Employees get the bare minimum requirements and are left to do the work themselves, which leads to poor team communication and productivity.

Poor Expectations

The expectations become loose with each employee and push workers to set how much effort they decide to put in.

Some workers require more guidance than others, and that kind of trait is hard to pick up over a computer screen.

What Styles of Leadership Are Preferred When Working Remotely?

While a leader grows with his team, he develops a style and pattern to perform his duties, leading to promising results.

These are the three most common leadership styles that emerge from remote work.

Participative Leadership

A participative leader enjoys making his workers feel heard and included. During meetings and collaboration groups, the workers have many chances to voice their opinions.

Transformational Leadership

These type of leaders motivate their workers with an inspirational mindset. Setting an example by practicing and focusing on the big picture helps employees develop a drive to work harder.

Situational Leadership

Situational leaders adapt to the situation and change their working habits to match the changes. Employees who are very flexible and appeal to the latest policy rules can work under situational leadership.

Tips for Being a Better Remote Leader

There’s a learning curve to maintaining leadership while working remotely. Depending on the team, the methods vary for effectiveness.

However, there are common strategies leaders can learn to manage their remote workers.

Open Communication

The change from in-person to remote work limits the different communication pathways. So how do you get in contact with an employee without being intrusive?

Video chatting and creating an online discord group helps keep the team connected without losing communication.

Establish Goals and Priorities

Employees are more motivated to work when they have clear goals to follow.

Set the ground rules, online policies, and basic etiquette when working remotely. When everyone is on the same page, there are no problems and confusion.

Lead by Example

There are times for the leader to motivate his workers by putting himself first and showing that the work is manageable.

This method creates a bond between the leader and employee and improves company morale.

Conclusion

How to maintain leadership while working remotely is a new concept to grasp, but with the right skills and personality, anyone can be able to do it.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

The Importance of Delegation in Growing Your Business

Posted on October 27, 2022

As the CEO, you may want to control every aspect of your business and ensure everything is going well. However, as your company grows, having control of every process becomes impossible. Has your company grown? If so, you need to learn how to delegate like a CEO. First, separate different tasks into specific categories when […]

As the CEO, you may want to control every aspect of your business and ensure everything is going well. However, as your company grows, having control of every process becomes impossible. Has your company grown? If so, you need to learn how to delegate like a CEO.

First, separate different tasks into specific categories when pursuing delegation in management. Then figure out who can handle which assignment the best. Then, you’ll need to delegate the tasks to the best employees. Now, spend your time focusing on complex and big-picture items.

To learn how to delegate like a CEO, read the guide below. Now, let’s get started!

What Does Delegation in Management Really Mean?

Delegation is a vital part of a manager’s job. However, many supervisors and managers avoid delegating and take on too many tasks themselves. Why do they do so? Many prefer to do some projects themselves. Others don’t like to spend too much time explaining how to complete a task.

Delegation in management involves transferring one person’s tasks to another individual. Essentially, that includes a manager or CEO requiring certain employees to complete specific projects or assignments. 

So, what is the role of the CEO? The CEO is responsible for keeping employees engaged by delegating tasks and providing them with some amount of autonomy. 

A Gallup study found that CEOs with impressive delegation skills produced 33 percent more revenue than CEOs who do not have the same level of delegating talent. Delegating helps CEOs and managers find more time to focus on high-value projects, which allows them to grow their businesses.

Can Anyone Master Delegation?

Any leaders like executives, mid-level managers, or immediate supervisors can all master delegation. For instance, women business owners and female leaders can all succeed by learning how to delegate effectively. The best leaders know where they excel and need help, which is when delegation comes in handy.

If you’re CEO, you will need to assign tasks to others you, as the leader, have weaknesses. As such, you will need to determine the strengths of everyone on your team. Then, it is vital to find the right projects and assign them to each employee to grow their skill set.

A few tips to help anyone master delegation include:

  • Understanding what tasks require oversight and which to delegate
  • Using your employees’ strengths and career goals when delegating
  • Defining the desired results of a project
  • Offering the right amount of authority and resources to employees

How To Delegate Efficiently If You Are a CEO

So, how do you master delegation when you’re the CEO of a company? The CEO’s best practices in delegation first include understanding any possible resistance toward delegation. 

First, it is vital to state company goals and any behaviors impeding that progress. When examining certain behaviors, CEOs should consider what would happen and how they would feel if they did the opposite. What would be the outcome?

Doing so should help CEOs see the benefits of delegation. The best leaders will start to delegate and stick with the goal. To start, try several small, low-risk delegating procedures. Team members should also consider whether they can take on new roles and responsibilities in the workplace. 

To delegate efficiently when you are a CEO, you must pick the right employee for certain tasks. Focus on who can develop vital skills and can take on the challenge. Also, when delegating, provide the following:

  • Clarity on the task at hand.
  • The expectations for the project.
  • The amount of autonomy expected.

Furthermore, you will need to provide the necessary resources for your employees, such as training, a quiet space to work, supplies, or assistance from other workers.

Lastly, CEOs should develop milestones in the project development phases, create a motivating environment for their workers, and tolerate possible mistakes on the part of their employees.

5 Rules of Delegation

If you want to figure out how to improve delegation at your company, you may need to follow the 5 rules of delegation. The 5 rules of delegation include the following:

  1. Define your precise strengths
  2. Perform a task, eliminate, delegate, or automate
  3. Plan out your delegation and provide resources
  4. Assign responsibility and authorize an employee to complete a project
  5. Analyze results and offer constructive feedback to employees

Figure out which areas you have strong skills in and complete any tasks associated with those strengths. Otherwise, make sure to delegate tasks in areas you have a weakness. 

When facing a task, figure out whether you can automate it, eliminate it, or delegate the work to someone else. What will happen if you eliminate it? Does it need completion today? Is this a common daily task that you can automate? Consider these questions when deciding what to do.

Provide the support and resources employees need when you do delegate a task. You also need to stop taking control and give autonomy by providing employees with the authority to complete an assignment.

Lastly, you will need to review the outcome of a project, see whether the goals were met, and provide feedback to team members.

CEO’s Best Practices for 2023

Delegation of authority aligns with the latest best practices CEOs have developed for 2023. When you have worked to scale your business and achieved more revenue through that growth, you will find that greater demands, less time, and fewer resources force you to delegate more tasks.

For true success as a leader and CEO, you must let go of control and become less involved. The best practices for 2023 among CEOs also include the following:

  • Delegating tasks you have weaknesses in
  • Delegating well-functioning processes that you don’t need involvement in
  • Delegating assignments that you need your team to complete in the future

The Final Word

After reading through the guide above, you should now have the right process in mind to delegate like a CEO. Follow the 5 rules of delegation, and you should have no problem growing your business. Soon, your company will make its mark in its industry.  

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Hiring the Right People to Grow Your Business

Posted on October 20, 2022

Knowing how to hire the best candidate is important for growing your business. Hiring the right people for business growth is essential because they are at the front of customer service, which means they are the people that give an excellent first impression to clients.  Tips For Finding the Right Person The difference between growth […]

Knowing how to hire the best candidate is important for growing your business. Hiring the right people for business growth is essential because they are at the front of customer service, which means they are the people that give an excellent first impression to clients. 

Tips For Finding the Right Person

The difference between growth versus quality is crucial when hiring the right people for business growth. Sure, you want to employ people, so you have the help you need for your business to grow. However, quality is just as important as numbers in your business. 

You may have enough employees to staff your business, but are they quality members? Do they give the best customer service possible for your clients? Are they knowledgeable of your products and services to be armed with the tools necessary to serve your clients to the highest potential?

Importance of Hiring the Right Person For Your Business

A client’s first experience with your business starts with your customer service employees. Customers see customer service associates at the front of a brick-and-mortar store, and associates are the first people that clients talk to on a phone call. 

How your customer service representatives talk to and treat your clients will put a lasting impression on them as to whether they will continue to support your business or not. You can be a great owner and love putting your clients first, but if your employees are not doing the same, then customers will still believe that your business does not have quality customer service. 

Here are things to consider when hiring an employee:

  • Years of experience in the field. 
  • Personality traits of courtesy, helpfulness, critical thinking, and others. 
  • Flexibility to fulfill different responsibilities in their role. 
  • Ability to interact and socialize with customers. 

How Do You Know If You Hired the Right Person?

You will know when you have hired the right person for the right job. They will show up on time to work daily. They will excel above and beyond to fulfill their duties besides what’s in their job description. 

How to Establish Effective Hiring Strategies to Grow Your Business 

Here is how to hire the right person:

  • Choose interviewees with the most thorough and carefully-worded resumes. 
  • Listen to how the person talks. If they are upbeat with a smile on their face, that is a great sign. 
  • Evaluate their professional background. Do their past work experiences and personality match with your available job? 
  • Put yourself in the customer’s shoes. Would you be amazed at the interviewee’s customer service skills (as you evaluate the proficiency in which they are answering the questions) if you were a client shopping in your business?

Final Thoughts

Even as you continue hiring the right people for business growth, think about your retirement plan. As a small business owner, you have worked hard to grow an entity that is all yours. Don’t forget to reward yourself for your hard work by choosing a quality retirement plan. 

Now that you know the importance of hiring the right person, it’s time to start hiring your game-changing team members! Post your job on different job board websites such as Monster and Indeed to get started screening new candidates today!

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

How To Build a Successful Sales Team

Posted on October 13, 2022

Sales teams are the backbone of any business. When learning how to build a sales team, employers need to know how to find the right people and equip them with the skills and processes they need to be successful. We examine a few things businesses should consider when building a successful sales team. What Makes […]

Sales teams are the backbone of any business. When learning how to build a sales team, employers need to know how to find the right people and equip them with the skills and processes they need to be successful. We examine a few things businesses should consider when building a successful sales team.

What Makes a Sales Team Successful

Having a capable team can make a difference in a company’s success. A successful sales team has clear objectives and achievable targets to keep the team motivated and focused. 

Who Is a Key Player in a Sales Team?

The sales leader directly impacts the performance of the team. They will play a large part in getting your sales team performing at their best. They’re responsible for developing and implementing a culture and values to help the business meet its revenue targets and growth goals.

When learning how to manage a sales team, you’ll find that what makes a successful sales team is a dedicated leader with a firm plan for the team’s success. The leader should be able to work with the other team members, relay information effectively, and keep everyone focused on achieving the goals. 

Sales Team Roles and Responsibilities

Sales teams vary in size, structure, and function. While some groups may be huge, others may be as small as one person. There are many different types of sales team roles and responsibilities. Some sales roles are designed for collaboration, while others are about competition.

The sales leader is responsible for preparing the sales team for the year and setting expectations for performance. They will share plans that include milestones and expectations for what entrepreneurs should know about sales and marketing.

3 Ways To Create a Successful Sales Team

Follow these steps to create a successful team:

Define the Performance Objectives

A salesperson should be able to clearly state the target revenue and share their goals regarding the long and short-term goals. With this information, they can better prepare themselves for the year ahead.

Build a Culture of Engagement

The sales team will achieve more significant results if they are more engaged. A close-knit team with pride and satisfaction with their work can also increase their effectiveness.

Assess Critical Sales Metrics

Do you know the ins and outs of the financials of your business? As you learn how to build a sales team, you’ll find that key performance indicators are the essential metrics that affect your financial performance. They include:

  • Customer lifetime value
  • Customer acquisition cost
  • Net profit margin

How To Support Your Sales Team

Supporting the sales team is about providing them with a product to sell. Businesses can help their sales team with good internal marketing, legal, and financial structures. The sales team then needs the knowledge and information to sell the product correctly and confidently.

Sales Goal Examples for Your Sales Team in 2023

Setting annual sales goals for your team is essential for success. These goals should be challenging enough to push the team to achieve more but not unrealistic and unachievable.

For instance, Burger King recently announced a plan to spend $400 million to revive lagging sales over the next two years. 

Conclusion

If you are learning how to build a sales team, be sure to have a clear vision for your sales team, the product you are selling, how you will sell it, and how long it will take. Determining who is on your sales team and using better networking tips will be essential to your success.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Best Marketing Strategies To Help Grow Your Business

Posted on October 6, 2022

Marketing is a buzzword tossed around in business and entrepreneurship circles, but it’s often hard to know how to implement the right tactics. Let’s look at some of the best marketing strategies that make a profitable campaign.

Why a Marketing Strategy Matters

A proper marketing strategy that involves various methods that are bound to be successful can make all the difference in the world when your business needs more customers and sales. Without one, it is hard for the company to gain traction and achieve growth.

Here are the reasons you need a marketing strategy.

Set Clear Objectives and Goals

Marketing involves more than just planning what you are going to do. It is about setting clear objectives for a campaign, making strategies to accomplish those goals, and developing plans based on the circumstances.

Marketing strategies help you plan your work and work your plan. They help set clear objectives, including which areas to concentrate on, analyze opportunities, and formulate a marketing plan. You also need to evaluate how achievable your goals and objectives are as you progress.

Some targets include doubling annual revenue or increasing the annual number of clients.

Target Your Key Audience

You need to define your business’s primary audience and target it. Your marketing strategy helps you identify your target audience and how to reach the clients, helping you enhance campaign results.

You must consider target audience demographics, psychographics, and other communication values. Some marketers decide to focus on a small group of people with specific age groups and interests who they can count on to form their core target audience.

With focused marketing efforts, enterprises can develop a group that they feel would align with their established brand image.

Organize and Automate Your Process

Many companies have suffered the consequences of poor organization. With a marketing strategy, you can plan your marketing tasks and activities and prepare a roadmap for creating, monitoring, and improving the effectiveness of your key marketing campaigns.

When you use automation tools and develop a marketing strategy plan, it becomes easier to organize and execute your marketing campaigns. Managing and automating your process eliminates confusion and ensures that your marketing strategy works efficiently.

Allocate Necessary Resources

You need to allocate the right amount of money and resources to ensure that everything will be done at a constant pace while keeping your costs minimal. If there is a specific reason you need certain facilities, like a skilled workforce or a particular type of software for marketing campaigns, then spending money on them would be wise.

With a marketing strategy, you can also plan how to manage your time and money more effectively. Through proper resource allocation, you ensure necessary resources are strategically deployed and help you develop the best possible plan for your campaign.

Consider where your specific resources should be best allocated. A marketing strategy helps you prioritize tasks and activities to focus on what is essential to achieving your goals.

Enhance Efficiency, Performance, and Productivity

When you develop a comprehensive marketing strategy for your business, it becomes easier to plan and schedule vital elements for your marketing campaigns. It makes it easier to measure the effectiveness of your campaign and decide when adjustments are needed.

You can also easily schedule tasks and strategize ways to achieve maximum workplace efficiency, performance, and productivity. A proper strategy requires you to divide your tasks into specific activities and manage each individually.

Find out what works best in planning, organizing, delegating responsibilities, managing project activities, regularly reporting progress or status updates, and effective time management. Your business growth strategy helps you produce high-quality campaigns without sacrificing efficiency.

Types of Marketing Strategies for Small Business

There are different types of marketing strategies that will help you grow your business. Even though some varieties are more successful, all campaigns have unique value and purpose.

Here are six marketing plans for small businesses.

Create a Business Website

If your small business doesn’t already have a website, it’s time to get one. A properly designed and created website with all the essential information about your business will help you upgrade it and increase sales.

The look and feel of your website should be professional, fresh, and modern. It should give your visitors a good impression and give them a decent first impression. Your website must have a unique design that distinguishes it from the competition.

Including contact information like an email address, telephone number, or physical address helps your clients reach out when they have queries. You must also post and regularly update content on your website to keep your audience engaged.

Start a Podcast for Your Business

In today’s digital world, podcasts are not just another type of entertainment. Many people use podcasts as a marketing strategy to promote their brands, services, and products. Podcasts are audio episodes that involve a host and a guest who discuss topics related to the business.

Use podcasts to communicate with clients, share important information, promote special offers, and persuade people to buy your products or services.

Clients can stream podcasts or download them directly onto smartphones or computers. Podcasting apps and software will make recording an episode much easier.

Utilize Free Promotional and Productivity Tools

Plenty of free software, apps, and other tools can be handy. The most important thing is to find out what works for your business and marketing strategy. Searching and brainstorming can help you find hidden gems that could suit your needs perfectly.

For example, a graphics generator tool will help you create unique images or graphics to help you promote your brand. Productivity tools will keep your marketing campaign running while providing a good return on investment in terms of time and money saved.

Make Video Tutorials

Making videos is a great way to inform your customers about your products and services. Creating high-quality video tutorials and explaining your products’ basic features and benefits will enable you to attract more potential clients.

You can embed these videos on your website or create a YouTube channel and post the tutorials. YouTube is one of the best places where you can promote your business. Additionally, you can share the tutorials on social media platforms for a wider market reach.

Grow Your Business Blog

The best way to get new clients and attract more customers is to start a business blog. Blogs are the most popular tools that businesses use for promotion. Blogs keep your company’s image updated and promote your products or services.

Your blog should be well designed, have a professional look and feel, include fresh content, and give a good impression of your brand. You can use it to communicate with clients and post news updates on current events or any relevant topics in the digital marketing industry.

Manage Relationships With a CRM

CRM (Customer Relationship Management) is a software application or system that helps you manage your relationship with clients and customers. Think of it as an open grid that stores all the relevant information about your clients, including their contact details, likes and dislikes, purchase history, and more.

Use a CRM to automate the communication process by adding the customers’ and affiliates’ email addresses and sending automatic emails based on the special request or action. You can use the CRM to track each client’s interests and communication history by keeping notes of their queries, suggestions, or orders.

Having a CRM system in place can increase the efficiency of your business, thus saving you time and money. CRM software sorts data meaningfully so you can make better decisions while communicating with your customers or clients.

How To Create a Marketing Strategy

The key to creating the best marketing strategies for your small business is understanding your particular business and its goals. Before you start your process, you must know precisely who your audience is and what you need to do to reach them. You also need to understand how you will measure the progress of your marketing plan.

Many areas affect marketing strategies, such as competitive analysis, demographics, target consumers, and SWOT analysis. Here are a few basic steps to create your marketing strategy.

Start With a Goal

As a business owner, ensure you know what you want to achieve with your marketing strategy.

You can also create several short-term goals that will guide your marketing plan for a certain period. Be realistic about the goals you set for your business since the actual results will come over time rather than instantly.

Creating goals based on your marketing strategy provides you with direction to follow and action steps to take. Setting goals will help prevent you from getting lost in the shuffle and losing focus on the things that matter most.

Conduct Marketing Analysis

Your marketing strategy should also contain a competitive analysis. A competitor analysis can help you avoid competitors’ mistakes, learn from others’ experiences and identify the strengths and weaknesses of their strategy.

You first need to list all of your direct competitors based on geographic location, pricing levels, and targeted customers. After listing competitors, run a Google search on each company, showing you the company’s complete history, including recent news articles or updates. You can then use this information as a basis for future action steps.

After market analysis, conduct a SWOT analysis. The SWOT analysis will give you a clear idea of how you fare in the market and areas where you can improve.

Create Buyer Personas

A buyer persona describes the target customer based on demographics, psychographics, and behavioral data. These are useful for coming up with strategies that reach out to potential clients in a better way.

Use buyer personas as a tool to better understand the motivations and characteristics of your ideal customer. The process involves creating a detailed profile of a hypothetical buyer based on the requirements and wants of your target audience.

Customers have specific needs and buying decisions. You must personalize user experience based on characteristics, desires, challenges, and behaviors that are unique for each individual.

Set a Budget

A small business has limited resources, and a budget helps you keep track of your spending and improve efficiency. A marketing strategy cannot be effective without proper budget planning and financial tracking.

Determine how much you plan to spend on your marketing efforts and how you will measure your campaign results. Once you create a budget, you must track all the expenses and how much you spend on each campaign element.

Select the Appropriate Tools

Once you have identified the main areas where you need to focus on creating a marketing strategy for your small business, you must ensure that you have selected the tools that will aid your efforts. You can use different tools for your marketing strategy depending on the types that work best for your enterprise.

For instance, data analytic tools allow you to collect data based on your target market and help you develop the best marketing strategies. A data-driven marketing approach lets you personalize the user experience and increase revenue.

Google Analytics is a free tool that can help you track the traffic to your website and provide insights into user behavior. The data enables you to decide if your page content needs to be improved or tweaked before spending money on more ads or other marketing strategies.

Analyze Performance

A good marketing strategy should also include a way to measure the performance of your brand over time. A marketing strategy is not static but a dynamic process.

Measure your marketing campaign’s performance to determine if your efforts are working and what you need to do differently in the future. You can then use this information to make changes or tweak your marketing strategy.

The Best Marketing Strategies for Business Growth

Creating a marketing strategy is crucial in taking your small business to the next level. Here are the best marketing strategies used by companies to take their operations to the next level.

Emphasize Your Value Proposition

Regardless of size and scope, every company should have a value proposition. The proposition is a unique selling position that makes your business more effective than your competitors. It’s the fundamental reason clients will pick you over other companies.

The best marketing strategies get based on what you can offer potential clients and customers. The strategies focus on how you add value to clients and how they can benefit from working with you over any of your competitors.

Personalize Your Customer Experience

The best marketing strategies today are all about personalization. Companies that consistently deliver a high-quality experience to their customers receive more referrals, attract new clients and maintain growing profits.

Co-branding, Affinity, and Cause Marketing

Co-branding is a strategy to build trust and strengthen relationships between your small business and other partnerships. By choosing co-branding, you can create a bigger audience and reach out to more people while avoiding competitors.

Affinity marketing is a specialized market strategy where you create an alliance with a specific audience to get more attention for your business. Cause marketing is trying to influence the buying decision of clients by involving your organization with a non-profit organization.

Co-branding, affinity, and cause marketing are the best ways for marketing strategists to reach the next level of success. Incorporating a third-party brand with your company’s name is a great way to strengthen existing relationships, especially when trying to build new ones.

Focus On SEO

SEO is a procedure to optimize your website to rank higher on search engine results. Search engine optimization involves utilizing keywords on your page and regularly updating unique content that attracts the right audience and generates more traffic.

Link-building is a method that is often used in SEO and can be an effective strategy for your small business if done correctly. When building links, you need to be very specific in approaching this and research the best way for your small business to connect with the people you want.

Pay-per-click marketing is a form of online marketing which is done online through search engines. It uses a viewable ad once a user clicks on it and can be used to promote your products or services affordably and helpfully.

Use Emails To Promote Your Brand

Email marketing is a powerful technique to help you achieve website traffic, customer engagement, and sales objectives.

The marketing strategy uses emails to inform people about your products or services’ benefits and industry trends. Using these emails, you can grow your customer base and help boost your relationship with your customers.

Leverage Social Media Platforms

Social media marketing is a strategy that helps you to promote your brand by developing social media profiles. Marketing relies on online processes, especially during a pandemic, making social media platforms a perfect choice.

Social media marketing enables you to create a user experience and allows your brand to connect with your audience. Your content should be created and curated to help attract more users and improve the overall customer experience.

Employ Influencer Marketing

Influencer marketing is a compelling marketing strategy that uses people with the potential to influence others. These influencers can help you to use their large audience in your favor and gain many more customers.

Influencers are people who are known for their quality in the field that you are selling and have the potential to influence other professionals in the same area.

Influencers have a more significant audience than you. Influencer marketing will boost your brand’s credibility, increase customer engagement, reach out to more people, grow your social media audience, and more.

Create an Affiliate Program

An affiliate program is a marketing strategy where the members generate traffic to your website in exchange for compensation. 

The affiliates will promote your products on their blogs or websites, usually in an informative tone, and add a link to your website. If the readers click on the link and buy one of your products, the affiliate is compensated.

In the beginning, you need to send emails and messages that can help convince people that they should join your program.

An affiliate program builds a mutually beneficial relationship and generates opportunities for each party.

Craft Compelling CTAs

CTAs are anchor texts with embedded URLs that lead to the page where the visitor is supposed to join you or purchase your products. You need to ensure that these URLs are short and catchy to help boost conversion rates.

You should also consider what you want your visitors to do: either sign-up for a subscription, buy a product, or join your email list. The more CTAs you have, the easier it is for visitors to understand what they are supposed to do, which will help them become loyal customers.

Marketing Strategies Examples

Spotify has popularized the concept of streaming audio online. They have become one of the industry leaders by creating an intuitive and seamless way for users to listen to music and podcasts. The company emphasizes product experience and offers unlimited music and podcasts in multiple languages and regions.

Nike, a large sportswear company, has managed to reach millions of customers with their design and quality. The company has embraced influencer marketing to reach its global market by working with artists and Nike-sponsored athletes through collaborations.

FAQs

Here are some of the frequently asked questions regarding marketing strategies.

What are the 4 growth strategies in marketing?

The four growth strategies in marketing are customer experience personalization, search engine optimization, online marketing, and influencer marketing.

What are the latest marketing strategies?

The latest marketing strategies include podcasting and the use of automation like CRM.

What is the difference between a marketing strategy and a marketing plan?

A marketing strategy entails your approach to gaining a competitive advantage in the market, while a marketing plan contains the activities you take to achieve marketing success.

How do I market my business for 2023?

The best way to market your business for 2023 is by incorporating the online marketing strategies listed here.

Wrapping Up

Marketing is a vital part of the business process. Done correctly and implemented over time, your marketing strategy will become progressively more efficient at attracting new clients leading to business growth.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster

Is it Worth It To Get BBB Accreditation for Your Small Business?

Posted on September 29, 2022

Small business owners have difficulty attracting new customers unless a friend, family member, or acquaintance recommends them. People are habitual and have difficulty trusting strangers, especially with money.

Luckily for small businesses, there are more reliable methods to earning trust in today’s time. The BBB is an example of one of these methods. They help businesses gain the confidence of consumers and the general public, which opens the door for smaller businesses to grow.

If you’re a business wondering if being BBB accredited is worth the hassle and cost, here is some information that may prove helpful.

Brief BBB History

Before you ask yourself, “how does a business get BBB accredited,” it’s vital to understand why the BBB matters.

First, BBB stands for the Better Business Bureau. The BBB, founded in 1912, is a nonprofit focusing on informing the public about businesses and their credibility.

The BBB ranks its members on a grading scale familiar to most Americans. The grading scale ranges from A to F, with A being the best and F being the worst.

BBB takes consumer complaints and acts as a mediator between the business and consumer to address the problems. If the business doesn’t resolve the issue promptly, it will affect its BBB rating.

Unlike most review sites where people can complain anonymously, BBB takes consumer information to ensure that severe accusations are accurate. The longevity and requirements of the BBB are what build its credibility.

What Is BBB Accreditation?

Now that you’re familiar with the Better Business Bureau, you’ll want to know about their BBB accredited membership. Being BBB certified means that you as a business are trustworthy and stand with the BBB and the public.

Having this backing ensures that your business will follow ethical practices, honor promises, and be responsible for consumer problems and worries associated with your business. For consumers, being BBB accredited means there is no fear in doing business with you.

BBB Accreditation Requirements for Small Business

Becoming an accredited business means following and upholding the standards set by the BBB. The BBB expects eight leading standards from all of its members.

Build Trust

Businesses must be active within at least six months before their application. Additionally, companies must have all their licenses for operation, meet all government standards, and maintain at least a B rating at their local BBB office and headquarters.

Advertise Honesty

You must meet all legal and ethical advertising standards when advertising your business’s product or service.

Tell The Truth

You must represent your products and services as honestly as possible. Disclosure on all accounts is necessary to have a good standing.

Be Transparent

Businesses must provide consumers with clear guidelines and policies when they purchase a product from them or use their service. Disclosure of refund policies, contact information, receipts for purchases, and potential credit payments is vital for transparency.

Honor Promises

Businesses must fulfill all contractual obligations to their consumers.

Be Responsive

Companies must address any complaints in a professional and timely manner.

Safeguard Privacy

Protect all customer and client data to the best of your ability and inform those individuals of your efforts.

Embody Integrity

Approach every business transaction and interaction ethically and with good faith.

How Much Does it Cost To Be BBB Accredited?

The price of becoming BBB accredited depends on the size of your business. Two factors will influence the cost of your BBB accreditation fees. The first is the number of employees, and the second is your local BBB office.

Small businesses under five employees can expect to pay an average of $400 up to $600 annually. From that point on, you’ll find your annual fees scale depending on your employee number.

How Long Does it Take To Get BBB Accredited?

You can expect a minimum wait of two to three weeks for your BBB membership application. An unfortunate downside to getting BBB accredited is its long wait.

Since your local BBB office usually operates as business owners and board directors themselves, they don’t meet up too often. You’ll find that your BBB application can take weeks and sometimes even months, depending on your local office.

Does it Matter if a Business Is Not BBB Accredited?

Depending on the business, it doesn’t matter too much. The importance of business accreditation depends on a few factors. The first factor is the consumer. How important is a business’s reputation to the consumer?

For example, businesses that provide standardized services like gas stations don’t heavily benefit from the BBB. Although, companies that handle your money and investment benefit heavily from being accredited.

On the other hand, you may ask yourself, how much line of credit can I get for my business? You’ll want to go to a trustworthy financial institution that follows BBB’s ethical standards and practices.

Small businesses rarely know how a revolving line of credit works until they learn it from their credit providers. So, it’s worth being BBB accredited if you’re a loan provider. Especially since today, you can put your BBB accreditation on your physical and digital business card.

BBB Accreditation Pros and Cons

Just like any system, there are advantages and downsides. BBB accreditation has a few distinct benefits for consumers and businesses but some inherent downsides.

Pros

  • Provides an avenue of trust
  • Increases credibility
  • Potential exposure

Cons

  • Requires annual fees
  • Customers may not check reviews or accreditation
  • Decrease in relevance

Is BBB Accreditation Worth it?

Your reputation and ethical standing value depend entirely on your business values. For service businesses, reputation is everything. Most of the time, human interactions become the standpoint of success or failure.

If service businesses have a negative perception, people will naturally begin to avoid them. No one wants to go to a restaurant that provides horrible service. Additionally, no one wants to deal with a consultant who has no idea what they’re saying.

Even so, businesses have found ways to build trust and credibility through other mediums that don’t cost money. Google reviews, Trustpilot, and Yelp are review-based platforms that consumers use to check the credibility of businesses.

Overall, if you’re a service-based business with no problem affording BBB accreditation, it’s most certainly worth it. If you’re an already established brand with a reputation, there is little to no need for BBB accreditation.

James Webster

James Webster, founder and Executive Chairman of ROK Financial has almost two decades of experience within the financial services industry. His passion for helping small business owners and his innovative way of thinking, has allowed him to run multiple successful businesses including National Business Capital & Services. Under the National name, the team was able to help secure over $1 Billion in financing for small businesses nationwide.

View all posts by James Webster