#BusinessTipTuesday – Owning a Business Is… Continuous Learning.

Each year, our leader works hard to budget funds for her staff to attend events where learning opportunities abound. Why? Because she believes in learning as  a form of motivation. Because she knows we can’t deliver the quality of service we want to unless our brains are up-to-date with the most current knowledge. She knows it’s a smart investment.

This year, we had the opportunity to attend our Association for Small Business Development Center’s #ASBDC annual conference. Ironically, we weren’t even back in the office before we began talking of the great take-away’s. Sitting in an airport terminal at 10 pm, we exchanged ideas of how we might help this or that business with what we learned. After all, we know running a business IS a continuous learning curve!

Here’s a few take-away’s which you might find handy in your #smallbusiness #ownership:

  1. Know what your “secret sauce” is. (Thanks, Jackie B. Peterson of the #OregonSBDC). When you’re talking to customers or prospective customers, know they’re likely understand what you’re saying, but may not necessarily get how it applies to them. Give them examples. Ask questions of them which may give you a clue of how to relate your product or service to them.
  2. Collect testimonials and success. (again, thanks, Jackie!)… Have you become lax at collecting testimonials or feedback from your customers or jobs finished? Have you collected these, but they sit in a file, unused for your marketing? Get using it!
  3. Not having luck with the employees you’ve hired? Get introspective in your hiring process! According to #UGASBDC, one of the many reasons hires sometimes don’t work is simple – the person hiring doesn’t take enough time to implement a hiring process. If you are unsure of how to implement one, contact the #ScrantonSBDC. We can help!
  4. What’s your “bowling ball”? Thanks, inspirational speaker, #DanThurmon @danthurmon! As a leader of a small business, think about what’s weighing you down the most. Dan also notes that sometimes you have to actually let go, to get a grip! Maybe it’s a ‘good’ pet project that just isn’t worth your business investment any longer. Maybe it’s a piece of your daily grind and role that you enjoy, but just don’t have time to maintain it. Think about this.
  5. Juggle mindfully. Mindfulness isn’t just for yoga! Whatever priorities you juggle, treat them as if you were juggling something fragile. Whether it be financial priorities like growing your business credit profile, or doing good due diligence on a new deal or partnership you’re considering entering, make decisions with your own health in mind. After all, you are your business. Use strategy, research, decision-making and time as your strengths.

As always, the Small Business Development Center at The University of Scranton can act as a resource to your learning. Contact us!

Gretchen H. Kukuchka
Business Consultant
The University of Scranton
Small Business Development Center

Artwork adapted from freepik.com

#smallbiz #learning #buylocal #budget #opportunity  #nepa #internship #interns #smallbizinterns #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management

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#BusinessTipTuesday – Recognizing National Preparedness Month

This #BusinessTip Tuesday, we are recognizing National Preparedness Month with this blog post from Nav.


7 Ways to Protect Yourself from Business Identity Theft
by Eric Rosenberg

Identity theft impacts more than 17 million Americans per year, according to the Bureau of Justice Statistics, and businesses are not immune. The same havoc that identity thieves cause for individuals can harm a business’s finances and credit history. And, unlike individuals, when a business is attacked it could threaten the livelihood of many employees and customers who rely on the company. If you want to avoid identity theft for your business, follow these seven steps.

  1. Switch to Digital Statements

Mail theft is a simple but common entry point for bad guys looking to steal a business’s information. Bank statements, credit card bills, human resources files, and other mail can be used to attack the business or others. To end susceptibility of mail theft, turn off the mail.

While most businesses are not able to go completely paperless, switching your bank and other financial statements to paperless takes just a few minutes and closes a major vulnerability. With modern technology, digital statements are safer than paper. Updating your processes to digital accounting and statements can save money and time, and helps protect your business from identity theft.

  1. Invest in a Quality Shredder

How many movies have you seen where someone pieces back together strips of paper from a shredder? End that risk with a high quality, cross cut shredder. You can get one online or at a local wholesale club for under $100, and it will protect your business from thousands of dollars in potential losses.

Just as some bad guys steal paperwork from mailboxes, others steal papers from recycle bins and dumpsters. While dumpster diving for company data doesn’t sound fun or productive to you or me, thieves see dumpsters as a fast route to a quick buck.

You can watch this video to learn more about picking the right shredder.

  1. Build a Secure Filing System

If you do find your business does need to keep paper records for any reason, keep those papers secure. Records that could be used to compromise your business, employees, or customers should be securely locked away somewhere that only those with a business need can access.

In most cases, this means using a locked filing cabinet or system of locked filing cabinets. Just a small key is enough to deter most would-be data thieves. If your documents require additional security, lock them away in a safe or vault, or put your locked file storage away in a locked or secure area requiring a second level of access.

  1. Follow Digital Security Best Practices

Once your paper systems are secure, it is time to turn your attention to digital assets. A wireless internet router like you use at home does some of the work of keeping your digital assets safe, but you need to do a lot more to ensure total security.

Some best practices for small and midsized businesses include:

  • Strong firewalls
  • VPN for outside access
  • Secure offsite data storage
  • Scheduled virus and malware scans
  • Automatic Windows and other software updates
  • Secured wireless networks
  • Limited software installation abilities for employees
  • Train employees in digital security best practices
  • Protect physical access to company computers

The Federal Communications Commission offers additional tips, but most of them come down to being proactive. Don’t wait for a problem to happen to secure your data. Include security as a top priority from the start so you don’t have to worry about the messy cleanup after a hacker gets into your data.

  1. Monitor Business Credit Reports

According to the Colorado Secretary of State, monitoring your business credit is an important tool in keeping your business data secure. In addition to getting alerts from the government if someone tampers with your records, you should always keep up with your business credit. This helps you quickly spot suspicious activity and problems so you can stop and fix them before they get out of control.

Nav offers both your business and personal credit report and score for free. Sign up today to take the first step in monitoring your business credit. Your business’s prosperity is too important to leave to chance.

  1. Well-Planned User Data Access

Everyone at your company should not have access to every file. Large businesses use multiple layers of system security to ensure only those with a need can access company data. The same should be true at small businesses.

If you use computer systems for daily operations, every employee should have their own username and password. They should never be shared between users and each account should only have access to the appropriate systems.

Following this guideline allows you to quickly turn off accounts when an employee leaves the company and gives more granular abilities to keep data locked away from prying eyes. Even if you believe every employee is eternally trustworthy, secure your data to be sure you are protected.

  1. Use Strong Passwords

Last but certainly not least, use secure passwords. The top most common passwords are scarily guessable. 123456, qwerty, 111111, password, and 123123 are all among the top 10. While using a long, unique, random password might seem impossible, it is easier than most people realize.

Thanks to tools like Lastpass, Dashlane, and 1Password, you can create a unique password for every single site. If one gets hacked, you only have to change one password, not all of them. If someone can simply guess your password and get into your accounts, you might as well post your data on a billboard. While you don’t have to use those crazy rules to scramble words, you should follow smart password guidelines to stay safe.

Bonus Tip: Don’t Forget Secure Backups
While you are busy keeping your data safe, remember to create backups. In the event of a computer crash or in the worst case if a hacker gets access to your server, you don’t want to be left in ruins. Create multiple, redundant backups including an onsite and offsite copy.

Business Identity Security is Serious Business
Do not treat securing your data as something that can be put off. Procrastination means it may never get done, leaving your data vulnerable. It would be a shame to see your otherwise successful business killed by identity theft.

Follow best practices and monitor your business credit to ensure your business is safe. If you do, you have little to worry about and get back to what is most important: running your business.

About the Author — Eric Rosenberg is a finance, travel, and technology writer originally in Ventura, California. When away from the keyboard, Eric he enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girl. You can connect with him at his own finance blog Personal Profitability.

—-


For additional information about protecting your business from identity theft contact The University of Scranton Small Business Development Center or find your local  SBDC .

#information #databreach #identitytheft #sbdc #amerciassbdc #scranton #preparedness #identity #equifax #theft

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#BusinessTipTuesday- Business Disruption Plan Tips

What if the unthinkable just happened to your small business…
…loss of a key employee
…a road construction project that limits customer access
…loss of a major contract
…a disaster like a flood or fire
…supplier fails to deliver

We hope these haven’t really just happened, but these are all real situations our small business clients have encountered in the past few years and very few of them were prepared. It can be extremely challenging for small business owners to be ready for all things that might come their way, so we’ve prepared some tips to help you think about what you will do when an unexpected interruption occurs in your small business.

Tip 1: Back up your data!
These days, so much of our key business information and day-to-day work is done on computers. Hard drive failures, natural disasters, and viruses are just a few of the things that can destroy your data. If you’ve never backed it up, it may be gone forever. There are easy options for backing up your information. We recommend choosing more than one method so you’re prepared for anything that comes your way. This may even include printing out some of your key contacts or business information in case you need to access the information during a power outage. We’re going to bet you’ve thought of this, but haven’t done anything about it. You need to do this right away!

Tip 2: Have a plan…and communicate that plan!
While we know all businesses don’t have the ability to create in-depth plans on every possible scenario, no matter how small your business, it is well worth your time to think about what you would do if the unthinkable were to happen. Inform your employees or key partners of your plans and be clear about how you plan to communicate during a crisis. Keeping in communication with employees, customers, suppliers, and others is key, especially in times of chaos and disaster when the rumor mill can go crazy. If you are a sole proprietor, think about whom you can call on to help if something unexpected occurs – especially if something happens to you and you can’t fulfill your obligations.

Tip 3: Stay in the know!
Running a business sure can consume all of your time, but a great way to plan for possible disruptions is to keep yourself informed. Knowing what’s happening within your business, in your local community, the region, and even nationally within your industry are key to staying proactive versus reactive. Knowing when road construction is planned, a supplier is shutting down, or how your town deals with emergencies all before these things occur can be a great help in your preparation. There’s no one way to stay informed – scanning the local and national news, reading industry publications, skimming social media, and getting involved on committees are all ways to be sure you have access to information.

Further, if you have employees who are responsible for managing aspects of your business like access to data or communications, be sure you also know how to access information and what to do in case of emergency. Loss of a key employee can present huge challenges for a small business if that employee has access to information no one else does.

The worst possible thing you can do is delay this any longer than you already have. We completely understand business owners are short on time, so we’ve developed a brief, practical process for evaluating a business and developing a disruption plan specific to that business. Things like backing up data, using social media and web sites, considering new markets for products and services – can all help you prepare for future disruption.

Contact The University of Scranton SBDC today to set up a free, confidential meeting to get your business disruption plan in order. You don’t want to experience the unthinkable without it.

The University of Scranton SBDC
www.scrantonsbdc.com
570-941-7588

 

#smallbiz ##buylocal#shoplocal #opportunity  #nepa #internship #interns #smallbizinterns#scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss#impact #goals #businessplanning #management #nepa #businessdisruption #plans #fire #flood #construction #cybersecurity #security #employees #staffing #naturaldisaster

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#BusinessTipTuesday- #DogDay

This week we will talk about #DogDay or Saturday  August 26, 2017, and the possibilities for entrepreneurs to get a piece of the estimated $70 billion dollar pet industry.  The American Pet Products Association estimates that there are over 90 million dogs in the United States living in over 60 million US households.

These dogs need everything from food products, healthcare, grooming, boarding, supplies etc..

As an entrepreneur, you should look to carve a niche out in those areas with the product or service you provide, or look to see how you can piggyback on an existing business to get your piece of the pet pie.

A good example of this is from the website Rover.com .  On this site you can sign up to provide pet boarding, pet sitting, dog walking or house sitting services .  According to Rover.com they have over 85,000 people offering these services from their website.

Of course, these entrepreneurs could use the services of their local SBDC to learn how to keep track of their income & expenses related to these home based businesses.

So whether it’s the pet industry or some other entrepreneurial pursuit you might have , feel free to contact us here at The University of Scranton Small Business Development Center.

Keith D. Yurgosky
Business Consultant
The University of Scranton
Small Business Development Center

Artwork adapted from freepik.com

#smallbiz #dogdays #dogdayz #dog #pet #shopping #buylocal #shoplocal #opportunity  #nepa #internship #interns #smallbizinterns #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #rover #doggroomimg #nepa #pets

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5 Tips to Prepare Your Retail Business for the Holidays

With Christmas in July wrapping up a few weeks ago and pumpkin flavored items hitting the shelves within the next month, you might be thinking why are we rushing to celebrate the fall and winter holidays? It is still summer! However for all you retailers out there, now is the time to start prepping for the holiday season. If you do not prepare early enough, you will run the risk of falling behind when people are ready to shop for the holidays. Here are a few things to keep in mind, especially for small businesses.

  1. Employment: Holidays can be a busy time, especially when it comes closer to the actual Christmas season. It would be wise to consider hiring a few extra employees for your business; this would help things run a little smoother when it is hectic. For example, the extra workers could help with stocking inventory, greeting customers, wrapping purchased items as presents, or potential extended business hours. Having some extra helping hands in these scenarios may benefit your small business and keep both employees and customers happy during a stressful season!
  2. Trends: Everyone is interested in buying the latest items on the market and there is usually that one “hot” item that is at the top of everyone’s Christmas list. As well, people are interested in serving up the latest food crazes during the holidays or finding the hippest Halloween costume. Now is the time for retailers to do their research so that they can find out what these trendy items are and how they can incorporate them into their business. It is important to look at the trends and see what your wholesalers are offering for the holiday season; usually they have the most popular items but also make sure that it matches your particular customers and target market is important. Another helpful trick may be to start asking your customers what they want to see in your stores as holiday presents; this way you know first-hand what they are looking for!
  3. Website: Online shopping is a major attraction to consumers due to its convenience. It is shown that throughout the past years, this is the most popular way to shop. If your small business does not have a website, this could be another tool to consider using. This way you will attract more customers to your store and provide another option to consumers’ shopping needs and desires. If you have a website already, it would be important to keep the site up to date with all of the items that are available during the holiday season. The use of a website can maximize your sales potential!
  4. Gift Cards: Many people like to purchase gift cards as presents for people since it provides the people with the option themselves to buy whatever they like. Selling gift cards to your store is a great idea because it offers the customer with another option. As well, there also the chance that people will not cash in their gift cards, which is an automatic source of profit for your business. By offering gift cards you can capture a larger percentage of consumers since you are providing something they may have not realized they wanted!
  5. Sales and Gift Packages: Most people tend to buy presents that are on sale or have a discount. These sales tend to drag customers into your store or online and they buy more than they normally would. Think about Black Friday… everyone loves getting the best deals! Setting up a Black Friday sale, a Cyber Monday sale, or a “Last Minute Christmas Shopping” sale could capture a few extra transactions you would not normally have had. Setting up gift packages and bundles is also a good idea for small businesses. For example, if you offer two services or two pieces of clothing for a set price, you can catch the eye of consumers. People enjoy packages or discounts, especially when they have to buy many gifts in one set period of time!

Hopefully these tips can help all of the retailers out this holiday season! Preparing early is key for a success!

Ms. Danielle Guari 
Intern

Artwork adapted from vecteezy.com

#smallbiz #christmas #holidays #gifts #retail #shopping #buylocal #shoplocal #opportunity  #nepa #internship #interns #smallbizinterns #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #siblings #family #nepa #blackfriday #christmasinjuly

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#BusinessTipTuesday – Son & Daughter Day

“When you buy from a small business, you are not helping a CEO buy a third vacation home. You are helping a little girl get dance lessons, a little boy get his team jersey, a mom put food on the table, a dad pay a mortgage, or a student pay for college.”

With Son & Daughter Day almost upon us, now is a better time than ever to realize how important small businesses are to American families. Here are a few reasons to start shopping small:

Job Creation– The Small Business Administration (SBA) reports that 28 million small businesses are operating in the United States alone, and that these businesses are accountable for 66% of all new jobs within the country.

Tax dollars stay local– Businesses pay sales tax to the city and county the business is located in. These tax dollars are used to support public schools, libraries, parks, and roads, as well as funding public service workers such as firefighters. According to Civic Economics, about 48% of each small business purchase goes back to the local economy compared to about 14% from purchases from big box stores.

Giving back– Small businesses are more likely to develop relationships within the neighborhood. These stores can serve as community hotspots, such as a coffee shop holding an open mic night, or as community support systems such as a pizza shop sponsoring a little league team.

Competition– A marketplace of hundreds of small businesses is the best way to ensure innovation and lower prices over a longer period of time.

Customer Service- Generally, small businesses will have much better customer service than big businesses. These small businesses survive because of their customers, so they thrive to keep each and every one coming back time and time again, whereas a chain store usually will not feel the loss of one unhappy customer.

Supporting small businesses is vital to the local community, so rather than waiting until November 25, 2017 to shop on Small Business Saturday, stop by your local mom and pop store today!

 

Amy Simpson, B.S. Business Administration 2018
Intern

Artwork adapted from freepik.com

#smallbiz #opportunity  #nepa #internship #interns #smallbizinterns #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #siblings #family #nepa #targetaudience #sonanddaughterday

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#BusinessTipTuesday – Your next Great Hire…

Your next Great Hire…

At the SBDC, businesses know us for recommendations and trouble-shooting. Banks know us for assisting with business plans and financials. New entrepreneurs know us for walking them through licenses and registrations. But, did you know The University of Scranton SBDC can help you potentially meet your NEXT GREAT HIRE? We can! …Through the Small Business Internship Initiative.

The Small Business Internship Initiative was once the Scranton SBDC’s homegrown, born-out-of-business-feedback baby. Since then, it’s grown to a terrific maturity – to the benefit of our area businesses who talk with us about their growth. Sometimes, the initial sentiment from the business is as simple as “I’d like to host an intern – my business is growing so fast– how do I find a student?”. But sometimes, it’s a client who knows he/she needs to plan for their future workforce – “I see my business growing X% over the next X years… I am going to NEED some great workers to make this happen!”

As a consultant, I LIKE that last sentiment. Alot. I want you to plan and think about what your workforce needs might be in 2019, 2020, and beyond. Of course, budgeting, planning, environment, economy and the like are all factors that can change your decision-making process– but thinking about how you can facilitate ways to MEET this next generation of workforce becomes critical to your long-term success.

Vicki Bradley, Pleasant Mount Welding, Inc., Carbondale, and Sophia Assaf, former stellar intern and new permanent hire!

Hosting a paid internship and receiving assistance from the Small Business Internship and SBDC can boost your chances of meeting a possible great hire. It won’t guarantee anything, but welcoming interns into your workforce for a semester does enable you to meet and talk with them, understand their goals and interests and see their performance. If nothing else comes of your hosting, you’ve made a great contribution to a soon-to-be graduate’s practical knowledge, and, as I remind businesses – you are giving back to the community with these efforts! Likewise, giving your business a great mix of culture through generations of knowledge is a benefit to all involved. You can see who works well with who, and even possibly breathe some life into a collective group. As the internship wraps up, you hopefully have a few more projects completed and can gather great feedback from your intern about your business. And, you might’ve just met a candidate you could see yourself offering a full time position to in the future.

I encourage you to consider internships as a way to Grow Your Business.

For information on:
– The University of Scranton SBDC consulting services, visit scrantonsbdc.com.
– The Small Business Internship Initiative, which includes 11 colleges, visit smallbusinessinternships.com.

Gretchen Kukuchka
Business Consultant

Artwork adapted from freepik.com

#smallbiz #opportunity  #nepa #internship #interns #smallbizinterns #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #population #collegestudents #nepa #collegeinternships #collegeinterns #targetaudience #customerservice

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#BusinessTipTuesday – Shark Week and Investors

Well you’ve been waiting for it, and finally it’s here … Shark Week !  No not the Discovery Channel’s event that celebrates the big fish in the ocean, but the day your small business goes in front of a potential investor.

What are some things you as a small business owner should consider when seeking an investor.  I always tell my clients to put yourself in the shoes of the investor, what types of assurances would you want?  Here are a few items to consider before seeking a potential investor.

  • Are you willing to give up a substantial portion & control of your business?  They are called Sharks for a reason, they want to take a bite out of your business, and for many that is difficult trade-off to make.
  • Does your business have a high profit margin?  Sharks want to make sure they are going to make money, if not they could always just put their money into some other investment.
  • Can you sell ?  A Shark wants to know that the business owner can sell their product.  Do you have a proven track record of sales, is there a history showing people actually want your product / service?
  • Are you realistic?  Are the expectations you have for this business realistic, can you meet them?
  • Are you committed?  Have you made a full-time commitment to running this business, or is this just a half-hearted commitment, or passing fancy?

Once you consider these questions you then might be ready to swim with the Sharks!   If you need assistance in developing your small business, contact  us here at The University of Scranton Small Business Development Center.

Keith D. Yurgosky
Business Consultant
The University of Scranton
Small Business Development Center

#sharkweek #smallbiz #opportunity  #nepa #Research #Marketresearch #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #targetaudience #investors

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Business Tip Tuesday – Get to Know Your Customers

Getting to Know Your Customers

One of the best ways to know if your business is going to be successful or not is to find out who your customers are and what they like. Without knowledge of your potential or current customers, it is very difficult to provide a good product or service. Without even knowing it, you may have already conducted market research. By asking or listening to people talk about what type of product or service they are looking for, you have an idea what people want. Market research is a good way to gather information that can be used to define opportunities and problems for your business.

When you begin to perform your market research, you want to first define the problem. You want to decide what you are trying to get information about. What flavor ice cream do your customers prefer? What trends of jewelry are your customers looking for? Some research can be done to find out what is going on in your industry and some research can be conducted to determine customer satisfaction or level of happiness with a certain product or service. After you determine what the problem is, you have to define your research plan or your ways of collecting the data and information. You can use information that already exists through other research or you can collect the information on your own. If you want to collect the information on your own, you can use a number of different methods: focus groups, interviews, surveys, questionnaires or observations. Once you have collected all of the data and information, it is time to analyze it and decide what, if any, changes need to be made in your business to better accommodate new or current customers.

Another way you can find out more information about your potential customers is to study your competition. Take a look at the products or service they are offering, their pricing, and marketing techniques. You may even want to go to their location and buy their product or use their service to have firsthand knowledge of what they are offering.

To collect the best information about your customers, you may need some help. There are many organizations that collect data that you can turn to for assistance: the census bureau, your local chamber of commerce, your local library, trade and professional organizations and (of course!) your local SBDC.

No business can be successful without customers. So getting to know who your customers are and what they like is one of the most crucial aspects to any business. Even the most simplistic research can be helpful for a business owner. Don’t be afraid to ask your customers what they like or don’t like. The more feedback you can get the better you can meet the needs of your customers.

Leigh Magnotta
Business Consultant
The University of Scranton SBDC

Artwork adapted from freepik.com

#smallbiz #opportunity  #nepa #Research #Marketresearch #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #targetaudience

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Customer Relationship Management (CRM) For Small Businesses

The customer they say is king. They are the reason for your existence as a business. But it is one thing attracting the right customers and it is another thing keeping or holding onto them. Therefore, coming up with the right strategy or approach to manage your customers is key to your business.

This fact clearly highlights the importance of Customer Relationship Management (CRM) to all businesses. Customer Relationship Management may be defined as a marketing strategy that involves maximizing shareholder value through winning, growing and keeping the right customers. Big businesses have marketing departments that invest heavily into this strategy. However small businesses most likely don’t have a dedicated marketing department. This does not restrict the execution of this strategy to big businesses alone. It is open to all because the central idea is “The Golden Rule”. Do unto others what you would have them do unto you. Treat the customer the way you would want to be treat if you were in their shoes.

Some affordable software packages that small business can use for their CRM include;

  • Insightly
  • vTiger
  • Really Simple Systems
  • FreeCRM
  • ZohoCRM
  • Raynet

They have free versions that have limited functionalities. The prices for their basic sign on versions range from $12 – $40 per user per month. Other package options are available.

CRM caters for both new and existing customers. They are both very important. However CRM prioritizes existing customers because;

  • It is more costly to attract new customers than it is to retain old customers.
  • Existing customers usually spend more money or patronize your services more than the new customers.
  • Happy customers recommend your business to others. They market for you.

Two things you can do to build a good CRM are;

  • Have a good knowledge of your customers’ behavior – Have some knowledge about what their needs are and how you are or can satisfy that need. Have some idea about their perception(s) of your products and services.
  • Build an outstanding transactional relationship with your customers – Make their business experience with you very pleasurable and memorable. This is where small businesses can excel over bigger ones.

Reference: Longenecker, Justin G., Moore Carlos W., et al. Small Business Management: An Entrepreneurial Emphasis. Thomson South-Western, 2006. Print.

By: Ekow A. Aikins, University of Scranton MBA student and WEC intern

Artwork adapted from freepik.com

#smallbiz #opportunity  #nepa #CRM #customerrelationshipmanagement #scranton #sbdc #smallbiz #entrepreneur #asbdc #business #boss #impact #goals #businessplanning #management #population #demographics #targetaudience #customerservice

 

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