3 Summer Business Building Tips

Summer is almost over, but it’s not too late to implement these 3 summer business building tips. This Monday Marketing Moment offers tips to keep your sales high during the hottest months of the year.

For many small business owners, summer represents a slump in sales. Many of our potential customers are more interested in vacations and outdoor activities than in office meetings and store visits. Rather than let your sales suffer, follow these 3 business building tips to give your company a boost this summer:

Head outside with your products or services. Many communities offer festivals, fairs and other outdoor vending opportunities for reasonable prices. Locate your city’s event calendar and choose the events your target market will frequent. For example, if you sell one-of-a-kind jewelry, then your target may expect you at a cultural fair over a low-priced crafts event.
Run a summer-only special or contest. Rhonda B. Reece, owner of handcrafted copper craft store Phoenix’s Inspirations, suggests a refer-a-friend promotion to increase your mailing list. Give current customers a special referral link to your mailing list subscription form or include a “how did you learn about this list” question to track referrals. Once customers reach a certain referral level, they receive a high value coupon for your products or services. As Rhonda states, “who would not want to get a coupon for just having their friends sign-up for alerts from your company.” Your customers will be happy, and you will have gained a solid list of new mailing list subscribers.
Strengthen your strategic alliances. If your business is suffering a summer slump, then it’s likely that other businesses have the same problem. Partner with a similar business to offer referrals and run promotions. For example, if your business offers massage and another business has a manicure and pedicure service, partner up for a summer pampering event. If you have a business that caters to other entrepreneurs, such as consulting or design, partner up with similar businesses to give in-person or web-based workshops. Not only will you establish yourself as an expert in your field, but you may also get new clients from the audience.

Tips To Help You Become A Better Online Business Person

Starting and maintaining a home business enterprise is a bold move. Home businesses can be immensely successful if you know how to maintain your businesses affairs in the right way. This article will cover some of the essentials you need to consider, to ensure the growth, success and profitability of your online business.

If you have a home based business, don’t miss out on the home office tax credit. You can claim this space even if you don’t devote an entire room to your business. If you have an area which is only or primarily used for business purposes, you can claim it based on square footage, and calculate the portion of your home that is taken up by your office space.

Once you’ve decided on a product to sell, do your homework and check out your competition. Look at their prices and study the quality of the goods that they are selling. Make sure not to price yourself out of the market, and figure out how to deliver the best value to your customers.

Set up a Post Office box for all your business mail. It’s best to do this, rather than put your family at risk by using your physical address. This is especially important if you are doing most of your business online. Don’t ever post your home address online, for any reason.

To reduce distractions keep your office off limits to children. Have set work hours that enable you to run your business and still have time for your family. Older children should understand not to disturb you while you are working. For your business to succeed your family needs to be supportive and respectful of your work schedule.

Take all of the home-business tax deductions that are legally allowed. For example, you can deduct the cost of a second telephone line or a mobile phone if you use it exclusively for your business, but be sure to keep sufficient records to prove your deductions. Taking all permissible write-offs helps you keep more of what you earn.

Although you may be used to working eight hours a day and then being off, you have to realize that in order for a home business to thrive more of a time commitment may be needed. Once everything is in place you will be able to relax a little.

Maintain a professional attitude as you begin your home based business. Keep your personal life and your professional life separate. Just because you are working from home, does not mean that you should engage in any family responsibilities during the time that you are supposed to be working. You will not be successful if you do not put the time into running your business efficiently.

Don’t walk into a home business enterprise blind! There are many online discussion forums designed for small business owners to discuss the unique obstacles in this field. Look locally for other small business and home business organizations that meet in person. Either way you go, networking with other business owners gives you an excellent support system.

Having a business license for your home business often allows you to purchase things wholesale. This is excellent news for people who make their product, since you can search on product search engines for bulk orders of raw materials. This minimizes trips to the store, and frees up your wallet for other expenditures.

In the end, for most, having a online business allows for a level of control and creativity that the mainstream approach lacks. However, after reading this article, you may realize that you cannot necessarily go about maintaining a successful home business in the same way that you would maintain a traditional business. By utilizing these tips and advice, you will set your business up for a lucrative and stable future.

Why Business Analytics Is Essential for Running a Successful Business

WHY IS BUSINESS ANALYTICS IMPORTANT?
The foremost goal of any organization is profitability, and customer satisfaction is a huge component of the success of a business. When an organization innovates and stays ahead of its competition, it fulfills and goes beyond customer expectations. Many businesses still rely on ineffective, time-consuming traditional techniques for decision making processes that cannot keep pace with the competition.

The use of “Gut feel” in taking strategic decisions still plays an important role among business leaders. But does reliance on “Gut feeling” and “Traditional techniques” make for smart decision-making? What’s the best approach?

The technology boom has given rise to innovations in how data is used. Business analytics is the solution and the best move to ensure competitiveness in today’s era. To define the term: “Business analytics, one of the emerging fields in the data science, refers to the methods and various statistical and quantitative techniques used by an organization for informed decision making and business modeling”.

Analytics is the change that helps you to get your business on track. It assists the businesses to convert the humongous amount of generalized data into observation, patterning and vision.

BENEFITS OF BUSINESS ANALYTICS
What was discussed above is just an academic definition. Now let’s discuss why one needs to adopt it in business operations:

Fast decisions are easily taken, but what matters is smart decisions taken in a short period. It helps to inculcate faster and smarter decision making into business culture of your organization. With the help of business analytics, the company can empower a team for data analysis to extract targeted information. When a company accesses accurate and essential data, undoubtedly, it will take the right decisions.
Analytics helps in quantifying business values.
Most businesses provide training programs for fresh recruits or older employees where the core business values are imparted or refreshed. Instead, companies should go a step further and undertake the help of business analytics to translate business values into numbers. This is a more cost and time efficient undertaking.
CAREER PATH OF A BUSINESS ANALYST
A business analyst is one who assists organizations in the process of business analytics. The career path of a business analyst is not strictly defined as there are several options based on industry, qualifications, interests, preferences etc.

Training provides trainees with the skills and knowledge needed for a proper understanding and interpretation of data.
Training courses help students in getting exposed to data systems and tools like R, SAS, Python etc. making them eligible for various analytical jobs.
The best incentive for undergoing a course is that the industry-best average salary of a business analyst is Rs 491,522 a year. There are various skills that can increase the pay scale of a business analyst like project management, SAS etc.
CONCLUSION

The role of a business analyst is often seen as one that bridges the gap between different departments in an organization. There are various business analytics courses which can help you achieve all the benefits mentioned above. Candidates with these skills can help an organization to strategically improve operational efficiency.