The necessity of online presence for small businesses cannot be understated. A substantial amount of commercial traffic takes place online, and this is unlikely to change. To understand why an online presence is important, business owners must grasp the concepts of brand visibility and digital marketing.

This article aims to elaborate on why online presence is important and how to achieve it through online marketing, social media, tailoring to a target audience, and more.

The Importance of Boosting Your Online Presence, No Matter Your Industry or Niche

As a small business, growth should be your priority. Increased lead generation, credibility, and website traffic are a few of the benefits of online presence for business.

The internet is one of the most effective channels for growing a consumer base because users always research businesses that suit their needs. Even if your specialization is a niche, your website and marketing should cater to your target audience.

Patrons will primarily find your content through search engines, social media, and organic word-of-mouth. Proliferating any of these marketing tools will positively affect the others, considering that some customers only use one or two of the three.

It is most effective to establish a customer base before you dedicate yourself to improving the quality of your services. Focus on drawing people to your company website and social media outlets.

Building a Website & How to Structure Your Offers and Contact Information

A common misconception is thinking that only advertising affects your online presence. The design of your company website is integral to its traffic. Information about your services and your company must be accessible for users of all ages. Menus that list your contact, business information, and products heavily streamline the browsing experience.

One of the most critical components of growing your company is making sure that online visitors can contact you. When designing a website, insert your contact information as part of a footer or menu so it is accessible on every page.

Create visible links to any social media platforms your company uses and internal links to elsewhere on the site. Creating multiple pathways to important pages greatly increases site usability and reduces frustration.  The result is fewer potential clients turned away.

If you provide products that result in customer reviews, display them on your site. Patrons like to see responses to your business from people similar to them. Presenting consumer feedback also helps to establish credibility, which immensely aids organic marketing.

If you aren’t well-versed in web design and optimization, consider enlisting the help of a digital marketing agency. They have the tools and knowledge to bolster your website appeal, content, social media accounts, and more. All of this equates to higher lead generation for your business.

Establishing Your Voice & Creating Written Content

Once users know how to find your website content, your writing can teach them what your company offers. It is best to establish a standardized voice that stays consistent across your site. The tone of voice, structure, and style of the writings on your site should be digestible to readers.

Know your target audience and tailor your writing style to them. Doing so will increase the responsiveness of your web pages and your lead generation for sales.

Many companies accomplish this through the use of a blog. A blog is a parsed and personable format for conveying information in language that your target audience can understand. If your site has one, however, you must maintain it by adding new entries regularly. Forgotten, stale series of posts repel users.

The written content of your company website should be your central location for search engine optimization. SEO-optimized content features different keywords that improve the visibility of your site in search results. Study your competitors in the market and their written voices, and then try to compose a unique style that stands out.

The higher your site appears in Google search results, the more credible your business seems. Having plenty of organic, optimized content is the best way to be near the top of the list.

Building Visibility Across All Social Media Platforms

Social media is a popular online presence management system. It is also one of the easiest DIY digital marketing tactics for small businesses to learn. A Facebook, LinkedIn, or Twitter page is easy to make and maintain regularly. Like with a blog, if you have social media accounts for your business, you must post often and appear active.

Many people look for businesses and people on social media platforms to assess their trustworthiness. Patrons look for images and organic conversation as well as the account age. The best way to increase social media visibility is to post often and link back to your website whenever appropriate.

Make sure that your business information is accessible to social media visitors. A bio about your company, its establishment date, and a website link will add authenticity. If you have accounts on multiple platforms, cross-referencing them can potentially create a large business network.

If applicable, post images, such as pictures of a live networking event your team attended or a photo of your production site or office building. On Twitter, use hashtags when relevant. Hashtags greatly increase your tweet traffic, especially those that are currently trending.

Engaging With Your Market & Creating Value on Social Media Regularly

What sets corporate social media marketing accounts apart from genuine marketing is the value you create. Online presence for small business is as simple as engaging with your website and media viewers. Establishing credibility through communication is a great way to grow your market and generate leads.

What is value in terms of social media? Photos, personable content, and direct responses to clientele are some examples. Answer questions and show visitors your friendly, connective business model. If there are causes or other businesses you support, show it by liking their content.

Once again, updating your company website and social media often is another great way to boost credibility and create value. Stagnant social media pages with no recent posts look inactive and unattractive. When you post, include links to your sales pages and website where appropriate.

Now you know how to get online presence, maintain it, and slowly grow your business, company website, and social media accounts.

Share with me your favorite way to boost your online presence. Use #OnlinePresence on  Twitter, Facebook, LinkedIn, or Instagram.

Today’s consumers can smell a hard sell approach miles away. And if a potential lead thinks you are trying this kind of technique on them, they’ll run, not walk, away. It’s usually ineffective and may even be insulting. People prefer you to recognize their intelligence. So focus on educating and stop hard selling.

Customers today are diametrically different from what they were in the past. They have all the information they need at their fingertips, and they’re willing to do their own research and find options that suit them. If a door-to-door salesperson from the 1970s suddenly time-traveled to today’s world, they would have to find a new job.

Why Stop Selling: Is the Hard Sell Approach Unethical?

Yes, it can be. If you’re using the hard selling techniques to pressure someone to purchase something that won’t fit their needs and solve their problem, this may be an unethical approach. This is especially true if you’re selling a big-ticket item or service.

Yes, there are circumstances where a hard sale isn’t unethical. However, potential customers may perceive it that way. And in marketing, perception is reality. Modern marketing is all about building a brand that people know and trust. They won’t trust you if they think you’re trying to trick them.

Hard Sell vs. Soft Sell Advertising

Most of us already have an instinctive understanding of how hard selling and soft selling differ. What word do we think of when it comes to the hard sell? Without question, it’s pressure. Aggression is another big one. The hard sell depends on pressure and pushiness, creating a sense of urgency.

Think of salespeople from the mid to late 20th-century, and you’ll know what we mean by the hard sell. The hard sell is an old and obsolete sales technique, and most consumers know that. There aren’t many circumstances in which a hard sell approach will help you.

With soft sell, your goal is to educate first and help your customers solve a problem. Soft sell focuses mostly on inbound marketing, including content marketing and social media marketing. When you use soft sell, you put the customer and their needs first. Solving the customer’s problem is your most important goal.

When you’re an effective soft seller, you know how to get yourself on the radar of prospective leads and customers. Once they know and think of you as a reputable provider of whatever good or service you sell, they may turn to you when they need it to solve a problem or improve their business or lives.

How to Soft Sell on Social Media

In many ways, social media is made for soft selling. It’s perfect for demonstrating your industry authority, expertise, and ability to educate. How to educate? There are a plethora of opportunities to educate consumers, in the process showing them your knowledge and skill, as well as making them acquainted with what you offer.

Interaction is your watchword when using social media to promote your business. This is how you call attention to yourself and your expertise without having to resort to any overt selling techniques. Examples of interaction include liking comments from people in your industry, as well as offering your feedback and opinion in the comments.

Remember, ensure every post and ad you make on social media is linked or connected in some way to your professional website. Once potential leads have become interested enough in you to click on that link, they are ready for the harder sell type of approach you will have there.

On social media, your main goal should be to establish yourself as an expert in your industry. This isn’t as difficult as it sounds. Just consistently posting excellent content and interacting intelligently will go a long way. It sounds like common sense, and it truly is.

What Is Education-Based Marketing?

With education-based marketing, you call attention to your services through educating potential leads and customers. For example, you may provide access to a webinar, live demo, or workshop that educates your customer on a topic that will help solve their problem and bring them success.

Of course, another benefit of educational marketing is that you’re implicitly demonstrating your expertise. More and more, consumers are responsive to continuing learning. Lifelong learning is a major focus in workplaces today. This makes potential leads more receptive to your efforts to educate them.

How to Start Educating?

Starting to educate potential leads is simple to start. You can begin by posting educational posts to help others in your industry. Once you feel comfortable, there are other tactics you can use to make education part of your marketing strategy.

The Best Educational Marketing Techniques

There are many different kinds of educational marketing techniques, but some of the most popular (and effective) for many businesses are the webinar, the live demo, and the workshop.

Webinars

A webinar is a remote meeting that you host and in which you provide information and education to participants. Some business owners believe that people think webinars are boring, but this isn’t the case.

A well-planned and meticulously executed webinar will go a long way in setting you up as an expert in your field. Webinars are memorable, and participants are likely to think of you immediately the next time they need your product or service.

Live Demos

Live demos tend to be more expensive than webinars, but if you’re selling a product that prospective leads really need to see working to fully understand, you cannot beat this type of production.

Workshops

A workshop has some similarities to a webinar, but workshops are even more focused on education and training. Participants will typically get the chance of hands-on experience of some type.

Final Thoughts

Approaching marketing from a soft sell and educational perspective is a key to success in today’s marketplace. You want prospective leads to see you as an expert in your field, someone with the expertise necessary to solve their problem.

Start with social media as you embark on an educational marketing strategy. LinkedIn can be especially useful, as so many other businesses are there. Focus on education and stop hard selling.

Share with me what your favorite soft-sell advertising tactic is. Use #SoftSell on  Twitter, Facebook, LinkedIn, or Instagram.

Building your business credit takes time, but it’s worth the effort. It opens many doors as it plays a fundamental role in a company’s funding ability, allowing entrepreneurs to hire employees, purchase necessary equipment, machinery, and inventory, launch marketing campaigns, and maintain a steady cash flow while generating and growing revenue.

Up to 56% of small businesses seek financing. Yet, many get denied or receive only part of the amount due to a low credit score-and a lack of knowledge as far as how applying for small business loans affects your credit score.

But don’t worry. Read on to learn about how to build business credit score quickly.

What Is a Business Credit Score?

Like humans, businesses can have business credit scores and reports. A business credit score signals your firm’s ability to handle its finances, debt, and purchasing power. It’s a way of measuring business creditworthiness.

Business credit bureaus such as Dun & Bradstreet, Experian, and Equifax keep credit information records on businesses, such as debt repayment. The bureaus typically create credit reports when suppliers, creditors, insurance companies, or vendors report a company’s activity and accounts to them. It’s this information that informs you of your firm’s credit scores.

These organizations use your business credit score to evaluate your insurance application, business deals, or credit.

Steps on How to Start a Business Credit Score

You have to lay the foundation to establish business credit. This involves the following steps:

1. Choose the Right Business Structure

The first step towards starting a business credit score is making your business a legal entity. That means forming a corporation or LLC.

Remember, if you’re one of the 23 million US sole proprietors, you cannot separate the business from yourself, meaning you cannot start a business credit score. You have to use your personal credit score, which may not go well for you in the future.

After forming your business entity, ensure to register your firm. This depends on the location and structure of your business entity.

2. Obtain an Employer Identification Number (EIN)

EIN is simply a social security number for a business. The nine-digit number is crucial because it’s what you use to open your business bank account, file tax returns, apply for business credit, and apply for permits and licenses.

The good news is that you can easily apply for your business tax ID number for free on the IRS website and get it via mail or fax.

3. Open a Business Bank Account

Use your business’ legal name to open a checking account. This is the account you’ll use to manage your business money, help keep your books as accurate as possible, and simplify your taxes.

Pay all your transactions from the checking account. Also, pay all your credit bills from the checking account (if you have a business credit card).

A business bank account separates your business finances from personal ones. This goes a long way in improving your firm’s funding potential. Remember, banks use this account as a reference when applying for business credit. In addition, it provides vital data to lenders as they review funding requests.

4. Establish a Business Phone Line

A dedicated business phone registered in your business legal name line is necessary.

Lenders may require a company to have a business phone line with 411 directory assistance for them to fund your business. Having one portrays your business as legit and one posing fewer risks.

5. Establish a Line of Credit With Suppliers/Vendors

If you can work with suppliers or vendors who report to credit reporting agencies, the better. That way, these credit bureaus record any inventory, supply, or any other material you buy on credit. This information is what creates your business credit report and credit profile.

How much line of credit can I get for my business? That’s one of the first questions.

After applying for net payment terms, it’s a guarantee your suppliers and vendors will do the reporting.

Note that each relationship you have serves as a trade reference that you can use on future credit applications.

6. Get a DUNS Number

A DUNS number is a nine-digit number you obtain through Dun & Bradstreet, identifying your business as separate from all other businesses in the world.

Creditors can find your business credit file and subsequently access your credit history through this number. In addition, credit-scoring systems can use the DUNS number to access this data and generate your business credit scores.

What Is a Good Business Credit Score for Your Business?

Business credit scores range from 101 to 992. The higher the credit score, the better your business is positioned to qualify for funding. A good credit score is 700 and above.

Note that regardless of the method the credit-scoring systems used, a good business credit score for your business results from the following:

• Paying your bills on time
• Avoiding too much debt
• Staying out of legal trouble

Just ensure your business credit score doesn’t fall below 550 to avoid limiting yourself.

What Are Business Loan Credit Score Requirements?

Generally, business credit score requirements for SBA loans or a traditional bank are 680 or higher.

For equipment financing or business lines of credit, you require a business loan credit score of 630. Short-term financing requires 600, while merchant cash advances require a score of 550.

Remember, when it comes to small business loan requirements, your business credit score also influences other terms of your loan, including the interest rate.

How to Check Business Credit Score Free

In most cases, business credit bureaus will require you to pay for a full credit report. This must be bad news.

But you can check your business credit score for free. This only happens if you’re interested in your Dun & Bradstreet Paydex score, where you sign up for CreditSignal monitoring. However, you can only see your score for a few weeks before the site informs you that it has changed, either moving up or down.

Whether it’s Equifax Business Credit, Dun & Bradstreet, or Experian Business, you must pay to obtain your business credit report.

How to Improve Business Credit Score

To improve your business credit score, you must establish business credit over time. In fact, this is the fastest way to build business credit. It requires you to pay any existing net-30 trade accounts and any other lender on time. This is also how to build business credit for LLC.

Also, ensure your vendors report your good payment history to major business credit reporting agencies.

Other tips to help you build credit faster and improve your credit score are:

• Pay your bills on time
• Get a business website
• Monitor your business credit scores and business credit reports
• Update your business credit profile regularly and review it frequently for errors

List of Companies That Help Build Business Credit

One of the fastest ways to build business credit is establishing net-30 vendor accounts with companies that report to business credit reporting agencies. And as long as you pay on time, you will build credit references. These ultimately boost your credit scores.

You might also consider working with companies that help build business credit. These offer net-30 payment terms and report to major credit bureaus, helping build your business credit. They include:

• Creative Analytics
• Uline
• Business Tshirt Club
• Quill
• NAME NOT
• Grainger
• Ohana Office Products
• Suma Office Supplies

Final Thoughts

Learning how to build your business credit score is imperative, as obtaining a business loan with low credit is next to impossible. If you’re a strategic business owner, you understand pretty well this is not about surviving one day after another. It’s about establishing business credit lines and earning good credit scores necessary to thrive long-term. Note that borrowing and lending are becoming increasingly competitive, and your most significant asset is your creditworthiness.

Share with me your best advice on building your Business Credit Score. Use #BetterBusinessScore on  Twitter, Facebook, LinkedIn, or Instagram.

Positive business culture is characterized by a sense of caring, comfort, and collaborative effort. This type of work environment fosters an atmosphere where employees feel like they can bring their whole selves to work and know that they will be accepted for who they are.

It also helps establish clear boundaries between personal and professional life, which allows people to take care of themselves outside of work without feeling guilty or anxious about the consequences at the office.

The result: happier employees, more focused workers, higher levels of productivity, and better results in general. This is how positive changes impact business.

Increased Creativity and Innovation

Creativity is the expression of new ideas. Creativity can lead to innovation which can lead to creativity. This means that creativity is an ongoing process of coming up with new ideas, implementing them, and adapting them. Creativeness relies on problem-solving skills, inventiveness, flexibility, imagination, and spontaneity.

Being creative in the business world has grown immensely in recent years because it has become a competitive battlefield for top jobs. If you want to be seen as innovative and creative by your peers or potential employers, you have to have a certain level of creativity or risk being overlooked.

If your employer sees that you are not being innovative enough, then they will most likely move on to someone else who is more creative, flexible, and open to change.

Positive Work Environment Examples

Positive changes in the office can increase creativity. Here are a few examples of how changes can impact your business environment:

• Introducing a new, more efficient way of doing things in the office
• Having a space where employees can think creatively and work on their projects
• Designating certain days or time slots for teams to work outside the office
• Helping employees get back to business through a pandemic

All these changes allow you to grow as an individual, which is also much needed when it comes to being creative.

Increased Communication Levels

For communication levels in any workplace to go up, there has to be one thing that needs to change: the people’s mindset. This includes both the employer and employees. A positive change in work culture can help to shift this mindset, making it easier for people to communicate with one another effectively.

There are a few key things that need to happen for communication levels to improve in the workplace:

1. Employers need to create an environment where employees feel comfortable communicating their thoughts and feelings without fear of repercussion.
2. Employees need to be proactive in reaching out to their coworkers instead of waiting for others to reach out to them.
3. Everyone needs to be on the same page regarding what is expected from them and what they expect from others.
4. All communication should be clear and concise, so there is no room for misinterpretation.

Improved Morale and Productivity

Happy employees are more engaged in their work, take fewer sick days, and are less likely to leave their jobs.

So how can you make your employees happier? There are several ways:

• Offering flexible working arrangements
• Providing opportunities for growth and development
• Encouraging social interaction in the office
• Creating a positive work culture goes a long way in making your employees happy and productive
• Encouraging your employees to give back to their communities can compound positive effects of business on society

Reduced Stress Levels

In any workplace, stress is bound to occur from time to time. However, if stress levels become too high, then it can have a negative impact on employees. This is why employers need to do everything they can to reduce stress levels in the office.

When you reduce stress levels, it can lead to a more positive work environment. Employees will be less likely to feel overwhelmed or stressed out, leading to improved productivity and creativity. In addition, a positive work environment can help to attract new talent and reduce staff turnover rates.

Improved Employee Retention Rates

Employees are more likely to stay with a company with a positive work culture. For employees, it is not always about the actual job itself. Instead, they are attracted to companies that offer opportunities for growth and development, provide exciting work and give them autonomy when it comes to how their work gets done. Therefore, if you want to keep your employees long-term, you need to do everything to make their jobs enjoyable.

Better Work-Life Balance

A positive work culture helps to improve the work-life balance of employees. This is particularly true in cases where employers are flexible with their employees regarding things like working hours, taking time off, and generally doing the best job they can.

Employees who have a better work-life balance are happier, which means that you will have satisfied, engaged employees who are more productive at work. Happy employees also have lower stress levels, so it makes sense that organizations with positive cultures see improved productivity levels.

A Competitive Advantage

Having a solid internal workplace culture is essential if an organization wants to maintain a competitive advantage over its competitors. Employers play a significant role in shaping this strong internal workplace culture by understanding how positive changes can impact your business culture. With this in mind, it’s crucial to understand how employee engagement and satisfaction levels can affect overall productivity.

Employee engagement is directly related to an organization’s performance, so the importance of accepting change positively should be a high priority for employers. It is also worth highlighting that strong internal work culture directly affects external workplace culture, which means that there are plenty of benefits of positive workplace culture.

Conclusion

Positive changes like offering flexible working hours or allowing breaks can reduce stress, increasing productivity and creativity. However, these changes should only be implemented if they benefit both employers and employees alike; otherwise, both sides will resist.

So start small when it comes to implementing positive changes in the workplace; this way, there will be minimal pushback from workers while at the same time making sure that both sides are getting benefits.

Share with me how your tips on how you create a positive work culture. Use #HappyEmployees on  Twitter, Facebook, LinkedIn, or Instagram.

Every business needs some form of a social media strategy. Building an online presence is critical to elevating brand awareness, establishing trust with customers, and guiding prospects through the sales funnel.

Social media marketing and branding is a long-term game that takes patience and consistency. Your company has a unique story to tell, and social media is the perfect place to do so. This article uncovers how to use social media for business. We also dive into methods to deliver unique value to your audience.

What is Social Media Branding for Small Businesses?

Social media branding for small businesses is a critical long-term strategy. It involves building an identity online through one or more social media channels. Establishing a presence on social media enables your business to interact with present and future customers. It is also the perfect place to tell the world what your company values.

To understand how to use social media for a small business, you must know how social media branding plays an essential role in the sales funnel. Before anybody buys from your business, you must establish trust. Building this relationship is a long-term journey, including your content strategy and interactions with customers online.

The social media branding process is relatively straightforward:

• Identify your target audience
• Form your identity and social media channels
• Develop content that the audience is interested in
• Figure out a long-term system focused on design, value, and consistency

Importance of Social Media in Business Communication

Your business must have an online presence to communicate with customers. Here are a few reasons why an effective social media strategy should be a top priority.

Social Media Boosts Brand Awareness

Posting on social media consistently keeps your brand at the forefront of customers’ minds. However, you can reach a wider audience if your followers share your content. The more you engage with social media platforms, the more your audience will share. People outside of your regular followers can learn more about your business and its products through organic reach.

Social Media Establishes Trust With Your Audience

There are several different types of content for your business to post. However, one thing remains constant: you should provide value to your audience. When you post valuable content, people will like and trust your brand more. As you build a bond with your audience, they are more likely to buy from you and share your page with others.

Here are some examples of content that can build trust with your audience:

• Sharing helpful tips related to a problem in your industry
• Keeping your followers updated on future deals, promotions, and contests
• Running contests that reward your followers with free products or services

Social Media Gives Your Brand More Personality

There is no limit on creativity with social media and your business. Through innovative content, you can establish a personality online. Publish content that resonates with your ideal customer. This strategy also applies to engaging with your followers directly. For every comment or mention on your social media page, there should always be a reply.

How to Use Social Media Effectively

So, how can your business maximize its potential through social media? Below are several best practices in leveraging social media to reach your long-term business goals.

Develop a Plan

Building a social media presence starts with a plan. Research your competition to see how they interact with their customers. Study what works well, and then build that into your own unique strategy. Set meaningful goals that are measurable, specific, and attainable. Hold regular meetings and reviews to ensure your team is on track.

Identify Your Target Audience

Assessing who your ideal customer is will guide all your content development. Your social media plan should solve the needs of your target customer. If you do not post engaging content, you could lose your customers to a competitor.

Create a Content Calendar

Next, outline a social media calendar and ideal channels. Having a post ready for each day will keep your team on track. Break up your content into different categories. As you outline the calendar, ensure that you are satisfying each of the different types.

Understand Which Channels You Will Use

Knowing which channels to post on will also help in executing the plan. We define the right social media channels for your business at the end of the article. Your social media calendar should advise you on what content and media to use for each channel.

Build Your Audience

Once you identify your ideal audience, you can deploy campaigns to grow that audience. Launch contests that incentivize your followers to share your content. Depending on your marketing budget, you can also launch paid advertising campaigns on Facebook, Instagram, and Google.

Establish Community Partnerships

There are several local businesses who you can partner with in your community. Other business’ customers might also benefit from your services, and vice versa. Collaborate with these companies to launch mutually beneficial campaigns.

Which Social Media Platform is Best for My Business?

As you decide which social media platform is for you, there are two things to consider:

• Which social media channels do your customers use?
• What type of content will you develop?

Social media branding for small business is all about attention. Therefore, your business needs to post on the channels where your customers hang out the most. The critical thing to remember here is that social media is constantly changing. The platforms most relevant today may not be relevant a few years from now. Your marketing team needs to constantly research and keep up with where the attention is.

Secondly, you should pick the social media channels that best match up with your content. Your social media strategy might look different if your content is focused on videos. Below is a quick breakdown of the top social media channels and when you might use them:

• Facebook – best for organic engagement and reach with videos
• Instagram – best for mobile videos and photos, especially user-generated content
• LinkedIn – best for business-to-business (B2B) marketing campaigns
• Twitter – best for sharing ideas, interacting with followers, advertising future events, and publishing polls for customer feedback
• Pinterest – ideal for driving content to your website through videos, infographics, and images
• YouTube – best for long-form videos and informational content
• Tik Tok – great for posting shorter, user-generated videos

Final Wrap Up

Knowing how to use social media for business is essential for success. Building an online brand involves creativity and patience. It is the perfect vehicle to increase brand awareness, strengthen relationships with customers, and help drive traffic to your website.

Although social media is constantly changing, you must always provide value to your customers. You need a strong content plan centered around your audience’s unique needs. When you constantly put out helpful and engaging content, the sky’s the limit for your business.

If you enjoyed this article, share with me your favorite Social Media platform using #FavoriteSocialMedia on  Twitter, Facebook, LinkedIn, or Instagram.

Small business success is all about building strong relationships with your customers. When you are a local business, it is critical to have meaningful interactions with the community.

No matter what type of good or service you provide, there are unique ways to position your brand through local small business community events. We dive into the best strategies and community involvement ideas to strengthen brand reputation, build trust with the community, and drive more sales to your business.

Why Is It a Good Idea for a Business to Be Involved in Local Events?

Most local businesses thrive on attention. Getting your business involved in the community allows you to stay at the forefront of your customers’ minds. Your ideal customer will be attending these community activities, so your business should play a role in some way.

Participating in local small business events is also excellent for brand reputation. When your company engages in a local activity, it shows that you care about giving back to the community. As community members see your company enjoying local events, they are more likely to return the favor.

Local events also act as community outreach programs for companies to see how relationships build opportunity with other small businesses in the community. Meeting other business owners at local business events could lead to mutually beneficial partnerships. Maybe the other business’ customers could get value from your services and vice versa.

How to Promote Your Business at Community Events

As you promote your community events for businesses, you must bring a “value-first” approach. You should provide as much as you can to your customers or prospects before they give you any business.

Give Away Free Handouts

Promotional handouts and freebies are a great place to start. Place your logo on a small gift for the event attendees to take home. Not only do these people receive a cool item, but your logo is now inside that person’s home. Every time they pick up the item, your logo reminds them about their interaction with you at the event. Here are a few freebie ideas for you to use at the next event:

• Key chains
• Pop sockets for phone cases
• Hand sanitizer
• Chapstick
• Reusable water bottles
• Bags

Make Your Brand Stand Out

Presentation is another critical factor in promoting your business at community events. There will be a lot of vendors, businesses, and organizations in attendance, which is why you need to differentiate your brand. Make sure your sign for your booth or area is large, clear, and eye-catching. It is also critical to creatively place your logo in multiple areas of your booth so people can see.

Come in With a Plan

As the community event approaches, it is critical to research the logistics, attendees, and size. Your team should have a clear idea of the target audience and how your company fits into the big picture. Contact the event planners and organizers to understand how large your space is. That way, you can plan on the number of people and resources you will bring.

Ways to Get Involved in Your Local SMB Community

Why is it a good idea for a business to be involved in local events? Getting involved in the local community is critical to your long-term business growth. Below are some great ways to build trust with the community and elevate brand awareness.

Schedule a Workshop

If your business specializes in something, you should spread the knowledge to other members of the community. Whether it is cooking, personal finance, or fitness, you can organize a free class for local citizens. Making it free will establish trust with people and incentivize them to visit your business in the future.

Host a Contest

People love free giveaways, which is why a contest or competition can boost engagement within the local community. If you are a service or product business, you can award the winner one free session or item. For in-person community events, you can do a drawing or raffle to determine the winner. You could also take the contest to social media to grow your online community.

Partner with a Charity

Your community most likely has a lot of organizations looking to impact the community. They could always use more helping hands, and that is where your business comes into play. As you decide on the right charity to partner with, look for organizations that share your morals and values. Collaborate on a fundraising event, picnic, or other outdoor activity.

Why Do Some Businesses Sponsor Local Events?

Why do some businesses sponsor local events? There are many reasons why sponsoring a local event can improve your relationship with the community. When you build a charitable reputation within the community, you are more likely to gain long-term customers. Below are some other reasons why sponsoring local events can be beneficial.

Brand Positioning

When your business sponsors an event, it broadcasts your logo everywhere. For bigger audiences who do not know about your company yet, this is an effective tool. Depending on the size of the event, it will get a lot of social media, press, and overall mentions. Your company can also put your logo on giveaways, signs, and other promotional marketing materials for the event.

Lead Generation

Sponsoring an event also opens the opportunity to gain more leads. If you do a raffle, you can collect email addresses and phone numbers. The leads are also much more qualified because you intimately interacted with these people throughout the event.

Brand Reputation

Your business will not win over customers through flashy advertising about your product. However, you can genuinely influence your community by the way you make them feel. Sponsoring an event sends the message that your company cares about the community. It shows that you are invested in the community for the long run.

Local Events to Promote Your Business 2022

Looking for an excellent place to start promoting your business at local events? Below are some of the most influential events to build relationships with the community that will help you understand why establishing a network of peers is important:

• Volunteer events
• Workshops and seminars
• Chamber of commerce networking events
• Service or product sample events
• Contests
• Local festivals and fairs
• Events that share the core values behind your business

Have you been spending all of your time working on your small business? It can be easy to focus on a few tasks from marketing to product development to comparing low interest business loans. But don’t neglect researching the best retirement plans for small business owners.

You may love working on your business now. But eventually, you and your employees will want to retire, and you need to prepare for that.

Read on for some answers to questions, like what is the best retirement plan for a small business owner?

What Are Retirement Plans for Small Business Owners?

Retirement plans for small business owners fill your specific needs when you own a business. Since you don’t have a traditional employer, you’re responsible for saving money for your retirement. And you have to decide what type of retirement plan to get for yourself.

If you have employees, you can also offer retirement benefits to them. Like with a larger company, the employees can get benefits for working full-time.

Small business owners and self employed people can choose from a few types of plans. That way, you can select the plan that best meets your needs.

Best Retirement Plans for Small Business Owners Without Employees

If you don’t have any employees in your small business, you should consider a few options for saving for your retirement. Whether you’re early in your career or are nearing retirement, you should select the best plan for you.

Traditional IRA

One of the easiest types of retirement plans to set up is an individual retirement account (IRA). A traditional IRA is an account where you contribute throughout the year. The money you put in the account is tax-free when you deposit it.

You’ll only need to pay taxes on the money when you withdraw it during retirement. If you need to withdraw the money early, you will need to pay the taxes and a penalty.

Roth IRA

A Roth IRA is similar, but you pay taxes on the money you deposit now. That can be useful when you don’t have employees because odds are your income is relatively low. Once your business grows, you will make more money.

If you have a higher income in retirement, you won’t have to pay as much in taxes. So if you want to get paying taxes out of the way, a Roth IRA is advantageous.

Simplified Employee Pension (SEP)

A simplified employee pension (SEP) is one of the best retirement plans for small business owners without employees. You can contribute money to the account just like any other retirement plan for small business owners.

When you don’t have employees, you can set up an account for yourself. If you hire employees later, you can set up accounts for them. But they won’t contribute, only you, the employer.

Savings Incentive Match Plan for Employees (SIMPLE IRA)

Another one of the best retirement plans for small business owners is a savings incentive match plan for employees (SIMPLE IRA). This plan is great if you want to save a lot for retirement. You can contribute up to $13,500 a year from your net earnings.

To get started, you will need to fill out some forms from the IRS. Then, you will need to find a bank where you can create the account.

401(k)

When you think of retirement plans for self employed people, you may not think of a 401(k). But you can set up an individual 401(k) and use it like you would a 401(k) through a traditional job.

Like traditional IRAs, 401(k)s use pre-tax money, so you don’t have to pay income tax on what you contribute. And you can save up to $19,500 a year or more if you’re at least 50 years old.

Benefits of a Retirement Plan for Small Businesses

One of the most significant benefits of a retirement plan for small businesses is the ability to plan for the future. When you have a traditional employer, they can help you save for retirement. But that falls on you when you work for yourself.

And even if you don’t have employees now, you may hire people later on. Having a retirement plan now can save you a lot of stress.

Now, you may be wondering, “are small businesses required to offer retirement plans?” You don’t have to offer retirement plans. However, if you want to attract the best employees that will promote good communication in business, having a retirement plan can help convince people to work for you.

How to Save for Retirement as a Small Business Owner

You should know how to save for retirement as a small business owner, no matter which plan you choose. Regardless of the plan you have, you should set aside the same amount of money from each paycheck.

If you don’t have a regular paycheck or salary, aim to save a certain amount of money each month. Then, you can calculate how much you need to save to max out your account. For example, if you have an IRA, you can save $500 a month for the maximum of $6,000 a year.

Best SIMPLE IRA Providers for Small Business

If you’ve chosen to go with a SIMPLE IRA, you should compare providers. The best SIMPLE IRA providers for small business can vary from business to business. Some providers to check out include:

• Charles Schwab
• Edward Jones
• Fidelity
• Merrill Edge
• TD Ameritrade

Be sure to consider if you have employees or want to have them. Then, you can make sure you’ll be able to support the number of accounts you need. You should also consider how easy it will be to deposit money into the SIMPLE IRA accounts. And don’t forget about account fees or how easy it will be to contact the provider with questions or concerns.

What Is the Best Retirement Plan for a Small Business Owner?

When you own a business, you have a lot on your plate. It can be easy to let saving for retirement slip away. But you need to know about the best retirement plans for small business owners.

That way, you can compare the various types of accounts and providers. Once you settle on the best account and provider, you can set everything up for you and your employees. Check out our blog if you need other tips for stress management for business owners.

Share with me how your best tip to save for retirement. Use #Retirement on  Twitter, Facebook, LinkedIn, or Instagram. 

Year-end tax planning for small business owners can be stressful. However, developing a smart plan doesn’t necessarily have to be overwhelming. In fact, small business tax planning helps you protect your business, prepare for the future and save money come tax time.

If you own a small business, you want to optimize your revenue and minimize your expenses and tax liabilities. Unfortunately, not everyone is well-versed in the strategies and available tools, resulting in paying far more than is needed. Take advantage of some small business tax planning strategies and tax tips for small business owners.

Smart Tax Planning Strategies For Business Owners in 2021

According to statistics, there are a total of 33.2 million businesses in the U.S. accounting for 99.9% of all private establishments. f you’re a small business owner, there are specific planning considerations in preparing to pay your taxes. Here are some steps you can do to make tax season a little stressful:

• Strategically evaluate your choice of business entity – There are several options for a business structure: sole proprietor, partnership, limited liability company, or different types of corporations. Each business entity impacts taxation in terms of income and deductions.

You may want to discuss with a tax professional to help you determine the best business entity type for you, including some small business and LLC tax planning strategies.

• Strategize end-of-year spending – Increasing your expenditures in the current year is one of the most common strategies to reduce your tax burden. Some experts also suggest deferring taxable income until the next calendar year to minimize your taxes.
• Take Advantage of New Tax Rules – Small businesses have several tax-cutting opportunities resulting from new tax laws for small businesses in 2020 to support the recovering economy due to the COVID-19 pandemic. Here are some of the rules you should review:
  • New Temporary Exception for Meals Expense Deduction Limit in 2021 and 2022
  • Relaxed NOL Limits
  • Excess Business Losses
  • Employee Retention Credit under the CARES Act
  • Higher Deductibility for Charitable Contributions (Cash)

On top of these strategies, there are still some business tax tips in 2021 and tax planning for small business owners to help you prepare for what lies ahead.

Knowing How You’re Going to Pay Your Taxes

Small business owners are asked to make quarterly tax payments because the U.S. uses a pay-as-you-go tax system. Unlike employees, they don’t have an automatic system where taxes are paid ahead through payroll deductions. Failing to make quarterly tax payments can result in penalties.

The Internal Revenue Service (IRS) gives several options for business owners to make 2021 quarterly estimated tax payments:

• Crediting 2020 tax return overpayment to your 2021 estimated tax
• Sending in the paper vouchers for IRS 2021 Form 1040-ES
• Online payment using the link for IRS Direct Pay
• Through electronic funds withdrawal with the TY 2020 e-filled return

Planning Your Business for Quarterly Tax Payments

Making tax payments four times a year may not be the most fun way to spend your time. However, in the end, paying your business taxes quarterly can ease the burden of your tax duties:

• Determine your tax bracket. Your tax bracket is determined through your income and filing status, whether single, married filing separately, married filing jointly, or head of a household. Once selected, it tells you how much you should pay.
• Determine deductions and tax credits. Apart from the standard deductions,  there are also itemized deductions for which you can qualify. Filing these itemized deductions, such as business expenses, can be worth the extra forms and your time.

You may want to consult with your tax professional to know what you’re eligible to deduct.

• Add self-employment taxes. The self-employment tax rate for 2021 is 15.3%, which is the sum of Social Security tax (12.4%) and Medicare tax (2.9%) on net earnings.
• Finally, calculate your taxable income, liabilities, and estimated quarterly tax payments. Once everything has been considered, you can determine your final taxable income, liabilities, and taxes due.

As mentioned, calculating your quarterly tax payments accurately is essential to prevent underpayment penalties. However, it may be challenging to estimate tax liabilities, especially if you have an irregular income.

Thus, the IRS offers the ‘Safe Harbor’ method of accounting to help taxpayers suffering from complicated tax calculations. You can use any of these tax relief methods to avoid underpayment penalties:

• You pay 90% of the tax you owe for 2021 (current year) in four installments;
• You pay 100% of the tax liability for the previous tax year (2020);
• If adjusted gross income is greater than $150,000 (married couple) and $75,000 (singles), you pay 110% of the tax shown on the tax return for the previous year (2020).

Each state may have tax rules that differ from federal regulations, so you need to make sure you are following the tax system in your state.

Tax Loopholes For Small Business To Include In Your Planning

A tax loophole, by definition, is a provision allowing taxpayers to reduce tax liabilities. Here are some of the tax loopholes for small businesses or tax avoidance strategies for small business owners:

• Carried Interest Loophole
• Mortgage Interest Deduction on Second Homes
• Deductible IRA Contributions
• The Home-Sale Exclusion
• The Saver’s Tax Credit
• Earned Income Tax Credit
• Small Business Retirement Plan Tax Credit

These are just some of the tax avoidance strategies, and there are still more. Generally, tax loopholes are legal, but tax evasion isn’t. However, you can avoid paying taxes through these loopholes, and your tax preparer can help you with the process.

New Tax Laws To Consider When Planning

Tax laws are constantly changing, which also require dynamic tax planning strategies for companies. As part of proper small business tax planning, a smart taxpayer needs to understand what has been changed and what’s new from the previous tax year.

For the 2021 tax year, there are several tax law changes and updates that taxpayers should know about:

• The Consolidated Appropriations Act, 2021
• Adjustments for inflation
• Planned tax increases for 2021
• Deductions and credits phaseout adjustments
• Planned changes to the alternative minimum tax
• Changes to retirement plan distributions
• CARES Act provisions that expired in 2020

Important 2021 Tax Filing Deadlines

The due dates for the quarterly estimated tax payments are the same each year:

• January 15 – for the 4th quarter of the previous year
• April 15 – for the 1st Quarter (January – March)
• May 17 – for the individual tax returns and last day to make 2020 IRA contribution
• June 15 – for the 2nd Quarter (April – May)
• September 15 – for the 3rd Quarter (June – August)
• October 15 – extended due date of individual tax returns
• January 15 (the following year) – for the 4th Quarter (September – December)

If the day is a weekend or a holiday, the due date is moved to the next weekday.

Wrapping Up

While these small business tax planning strategies are all helpful, some may not apply to your situation. Before making any significant decision,  you may want to consult with a tax professional to discuss small business financials and tax planning strategies and help create a new tax plan for a small business like yours.

In general, all these strategies can help you understand more about how your business can minimize taxes.

Share with me how your preparing your tax strategy. Use #TaxPlanning on  Twitter, Facebook, LinkedIn, or Instagram.

The content in this blog is to be used as informational purposes only.  Always consult with a tax professional when it comes to how and when to file your taxes.  

Standard Operating Procedures (SOPs) are essential in all types of businesses. If you get good at using SOP in business, then it will provide guidance for what to do within all company processes. 

SOPs can help with methods of operation, work-group responsibilities, safety measures, and operating guidelines for any given process. 

In this article, you’ll learn everything you need to know about Standard Operating Procedures and how SOP in business can produce positive results for your company.

What Is a Standard Operating Procedure?

A Standard Operating Procedure is a documented procedure that a company or organization follows to function consistently. Any how-to document or checklist can fall under the procedure category. 

Examples of using an SOP include:

• Operating a website
• Planning a new building project
• Developing a training class

Using Standard Operating Procedures inside your company guides employees about what gets done in any given situation. This is not only efficient but makes for more consistent results. 

How Standard Operating Procedures Can Improve a Business

As Gino Wickman talks about in his Traction book, a Standard Operating Procedure helps maintain the consistency of your company’s performance. Creating systems in this manner help companies plan, coordinate, and communicate better within the organization.

You should design Standard Operating Procedures to increase productivity, reduce equipment and material waste, improve compliance with government regulations, reduce liability, or encourage employee morale. 

In addition, Standard Operating Procedures often help employees learn new skills since they follow the same steps each time they perform their job. Implementing systems in business can reduce employee errors by providing clarity of expectations and reducing the risk of ambiguities that lead to misunderstandings.

Standard Operating Procedures can also improve profitability by increasing efficiencies in how employees work together within the company. 

How Do You Build Systems In Your Business?

Start the SOP process by determining where you need business systems installed. Once you identify which parts of your company need an SOP in business, use these steps to create systems that encourage business growth.

Identify What Your Standard Process Is

Identify the steps a person must take to complete the task you’re creating the SOP for. Make a list of these steps so that anyone using them can easily accomplish the stated goal.

Test Your Standard Operating Procedures 

It’s important to test the new SOP before implementing it into your company’s workflow. Test Standard Operating Procedures by using people who aren’t familiar with them. Gauge whether they can accomplish the process without any issues. 

Set Up an Audit Process to Detect Problems 

After you test SOP systems, set up an audit process that determines if your SOPs remain successful. This way, you can refine the steps as necessary to increase their effectiveness.

Converting Frequent Tasks Into Procedures

A perfect use-case for SOPs is to use them for any tasks that you or employees do over and over. Business system examples might include the sales process, how onboarding works, how to work on billing, creating content, and other such business tasks.

For instance, you might create SOPs for onboarding new clients. Create a list of steps that everyone involved with the onboarding process must do. It might look like this:

• The sales team passes the sale to the product team
• The point-of-contact person enters new client into the company dashboard
• An email goes out to the client to set up an onboarding call
• Point-of-contact conducts the onboarding call
• Point-of-contact passes client to the product fulfillment team

Many other tasks will typically need to get documented during a process like this. However, it should give you an idea about how to start working on your business in a more structured manner. 

Is This Task Necessary Enough to Add to Your SOP?

The key to using SOP in business is deciding which task should make it into each SOP document. 

Let’s say you’re creating an SOP for writing a blog post. One step you’re going to include is keyword research. Ask yourself which tasks are necessary and which tasks to leave out. 

You’ll most likely include a task such as “Research long-tail keywords around the topic keyword.” You might not list anything to do with which keyword research tool to use if you’re sure everyone on the team already knows that you use it. 

Creating SOPs for All Positions in Your Business

Use Standard Operating Procedures for all major areas of your company. This might include sales, scheduling, email marketing, coaching, product development, and refunds.

What Is SOP format?

Use the basic SOP format to list the tasks for each system. There isn’t one set format to use. However, you might include the following information in your SOP documents. 

• SOP document ID number
• Title
• Issue date
• Revision date
• Current status
• Author
• Type of system (email, refunds, or sales)
• Definition of terms used in the document

After listing all of the above, you’ll then lay out the step-by-step procedure for completing the system. If a person follows each step, they should end up finishing the task easily. 

Their result should end up the same as any other person who needs to jump in and complete it. 

The Benefits of Having Systems & Processes in Your Business

Using SOP in business so that everything runs through processes and systems provides several benefits to the company.

• Standardizes common tasks and gets them out of the way so  employees can stop thinking about every detail
• Promotes consistency in your company’s day-to-day operations
• Saves time and money by reducing errors and omissions
• Eliminates confusing redundancies
• Enhances relationships with customers 
• Makes it easier to delegate tasks
• Insulates you against costly mistakes when key players are sick or on vacation
• Helps you scale your business more easily 
• Allows you to train new staff members faster 
• Eliminates employee frustration, which leads to happier teams

Conclusion

Using SOP guidelines helps your company run smoother by establishing a way to execute common tasks. Standardizing processes makes the process of planning for your business success that much easier to do and predict.

Motivation is one of the most crucial aspects of an employee’s day-to-day life. Without it, employees won’t put effort into work that you hope they do. 

They could even leave your company as they look for a better opportunity. 

This article will explore how to motivate employees and show them that leadership cares about them on both a personal and business level. 

The Benefits of Motivating Employees in Your Business

Your company will realize many benefits after getting good at employee motivation. Let’s discuss three main advantages to becoming good in this area.

Increased Employee Productivity

Employee productivity is one of the biggest benefits of having motivated employees. Since most people want to perform well, your people will put more effort into their tasks when feeling motivated. 

They’ll produce better work, they’ll find ways to get the work done more efficiently, and they’ll be happier throughout the day. 

Employee Turnover Rates Decreases

Turnover rate is one of the biggest costs to your business. It takes time to train new employees, make sure they’re working as they should, and ensure a smooth transition into the company. 

When you work on motivating employees and increasing productivity, your employees will become happier within their roles. Your turnover rate should then decrease dramatically. 

Improved Collaboration and Teamwork

If you get good at motivating employees as a leader, you’ll discover that it helps improve collaboration and teamwork.

10 Fun Ways to Motivate Employees

Here are 10 ways to motivate employees while keeping the company atmosphere fun and creative.

Let Employees Decide Their KPIs

Do you want to learn how to motivate employees as a manager? Let them determine what success means for their team. Morale and motivation go up when your people feel ownership over KPIs and have clear business goals.  

Gamify the Process

Gamifying the bonus structure works wonders when you’re unsure about how to motivate employees. Try allowing for rewards throughout the week or month that come with some sort of prize. 

Prizes might range from earning an hour of browsing Facebook or getting a ticket to an upcoming event. Gamifying is one of the most fun ways to motivate employees. 

Encourage Healthy Competition

If you want to learn how to motivate employees to work harder, then set up a competition between teams. Each team will bond and work that much harder to gain bragging rights.  

Let the Team Give “Shout-Outs” to Team Members

Rather than just praising an employee yourself, let the rest of the team praise them. Ask employees to give shout-outs to those people they saw do something great last week. 

Let Employees Pick the Team Meeting Location

When employees are looking forward to a team meeting, it makes the entire process easier. Let them choose a location that they’re excited about. Everyone will get more out of the conversation. 

Encourage Everyone to Acknowledge Others Publicly

Use software like Basecamp to create projects and hold the team together. Then, encourage the team to publicly acknowledge each time they see another team member do something great or help another person. Watch how motivated everyone gets to see their name in lights inside the Campfire.

Promote Fun Rewards and Recognition Events

Do you truly want to know how to motivate employees for better performance? Use fun rewards and recognition events. Go beyond the above suggestions and hold monthly recognition and reward events to keep employees striving to receive those monthly validation prompts. 

Introduce Stretch Goals

Stretch goals are a great way for employees to feel motivated. It also shows that you have confidence in their abilities. 

Introduce an Employee of the Month Program

Add extra pizazz to the monthly rewards and recognition event by adding an employee of the month program. 

This is a great ​​solution when you don’t know how to motivate employees during COVID. Watch which employees stand out as they strive to find some sort of comfort throughout these difficult times. 

Provide Team Members With Perks on Their Birthdays

Birthdays are a great time to let employees feel appreciated at work. You could provide an extra paid day off or a round of drinks with their team. It will remind them that they’re valued, and it helps create an environment where people want to come back every morning. 

How to Motivate Employees Without Money

Let’s dive into how to motivate employees without adding more into your monthly payroll budget. 

Plan Out a Fair Workload Distribution to Prevent Burnout

If an employee is feeling burned out, they’re not going to give their best at work each day. Plan out a fair workload distribution for your employees. Make sure nobody feels like they’re working more than others because this breeds resentment.

Provide Employees With the Tools They Need to Get Their Work Done

Employees who don’t have access to the proper tools will find that they struggle throughout their workday. 

You can increase employee performance by providing them with the right work tools and software. If they need a better computer, laptop, or other device to get their work done, you should provide it for them. 

Improve the Relationship Between Supervisor and Employee

The relationship between a supervisor and an employee can lead to increased employee performance. 

From providing feedback to having one-on-one meetings, your employees will see that you care about their opinions. A key part of this is teaching your managers ​​how to communicate with employees.

It’s the Responsibility of Business Leaders to Focus on Employee Motivation

You can’t expect your employees to become the motivated people you want them to be magically. Instead, you must take responsibility for learning how to motivate employees more effectively.

Remember that your staff can make or break your customer experience. All it takes is one or two disgruntled employees to start a cascading avalanche of unhappy customers.

Even if you only select 5 ways to motivate employees that you’ve learned here, it will make a big difference on your team and your customers. 

Employee Motivation Will Get Them to Work Harder & Smarter

Once your focus on motivation takes hold, you’ll see that employees start to work more intelligently within their roles. They’ll begin to work harder and take more pride in their work. In turn, this will help them become the employees you want to have on your team.

People become motivated when they feel appreciated and respected by those around them. When you show those who work with you that you value their efforts, they’ll try harder to please you. 

Conclusion

By definition, leadership includes responsibility. Take that responsibility seriously as you continue to learn how to motivate employees. Learn more by using these how to motivate employees scholarly articles. 

If you provide caring and honest motivation to your team, you’ll watch your people blossom into a creative team that makes your company better as new ideas continue to enter the picture.