Whether you're working for an company or on your own, the thought of saying 'no' to a client can be panic-inducing. It can be especially stressful if you're starting your own business or trying to grow your new business. The good news is that there are particular situations that actually call for a resounding negative response. When you say "no," you can feel like you're doing what's right for you and your business.
If you're starting a new business or have grown a business from the start, you will have some idea of what it takes to "wear many hats" or be as resourceful as possible. During that startup phase, you're analyzing, measuring, listening and on high alert to what is making your clients happy. According to best-selling author and researcher, Scott Sonenshein, this resourcefulness reveals a "stretching" mindset and is one of the reasons you're succeeding.
If you're struggling, it may be due to a "chasing" mindset.
Are you stretching or chasing? Here is some powerful advice to get through hard times.
The pandemic has highlighted businesses that chose to switch up their business strategy in order to remain profitable. Retailers have found new ways to sell to consumers, such as The Gap's highly successful pivot to selling masks, and many manufacturers are turning to a DTC (direct to consumer) model. Any crisis is a true test of agility for entrepreneurs and large enterprises alike, and the COVID crisis is definitely testing most companies around the globe.
Here are 10 Steps to a Successful Pivot for your Business Strategy.
Businesses and organizations are pushing through the effects of the pandemic on the economy, their industry or their customer response. At the time of writing this, there is no such thing as "after COVID-19" however experts are learning more each day. While everyone is searching for the next normal, it's important to consider how the virus has affected your client relationships and customer service.
If your business relationships have stalled, here are tips to win back clients after COVID-19.
We're all months into this pandemic and doing our best to work outside the office. Whether you're working on your own business at home or working for someone else, time management can be a challenge amidst distractions like children and chores. The "new normal" is to accomplish everything that you did before even...
After some research, I've found a few time management techniques that actually work.
Here are Time Management Techniques for Entrepreneurs and Remote Workers.
When you think about your business reputation, you may be looking to customer testimonials or surveys to determine how well you're doing. Obviously, your branding and online perception is going to influence sales and ultimately your revenue. Another part of your business' reputation, however, is how you approach the financial aspects of your business.
Did you know that your accounts receivable collections can affect your business reputation?
COVID-19 cases are still increasing as the United States reopens and now the National Bureau of Economic Research has declared that the U.S. economy is indeed in recession. According to the announcement, the economy was heading into recession when the coronavirus hit and, as businesses were shutdown, any gains were erased during March and April. If you're a business owner or accounts receivable professional, you may already know that cash flow has been affected by the events of the past few months.
The good news is that cash management options are still accessible during an economic downturn, such as a recession. Read on to learn more.
As entrepreneurs, we tend to look for those who most resemble ourselves for motivation and proof of success. We all need business leaders who've trudged the path before us, helping to make the path a little clearer. Brown and black entrepreneurs, as an example, face challenges such as a lack of media coverage of diverse leaders and are less likely to receive venture-capital funding. Still, there are those to push to start businesses any way, disrupting industries and the status quo.
To motivate others like them, read on to discover inspiring business quotes from black entrepreneurs.
Employers and organizations are beginning to move into a new normal after the COVID-19 pandemic response affected their businesses. With lockdown orders lifted and the phased approach to reopening, business owners and executives are seeking out ways to ramp up business quickly and keep their employees safe. Many companies furloughed or laid off staff and will be running at reduced staff levels for a period of time.
In this post, we offer predictions of tools and new strategies for B2B businesses to get back to work with reduced staff.
Retaining clients and customers is important for any business at any time. During times of uncertainty, it can be especially challenging. Clients may be unwilling or unable to commit due to financial concerns. You can still make efforts to keep these customers by changing how you work with them.