Three Small Business Tech Trends

The professionals at Global Resources utilize expertise and knowledge to access the information necessary for small business growth.  We know that there’s always something new on the horizon, especially when it comes to the world of business.  We expect to see many new trends and technologies throughout the next year. Below are three tech advancements small business owners should be aware of: 

1. Machine Learning - Machine learning has taken some massive strides forward in the past few years, even emerging to assist and enhance Google’s core search engine algorithm. Throughout 2017, experts expect to see machine learning updates emerge across the board, entering almost any type of consumer application you can think of, from offering better recommended products based on prior purchase history to gradually improving the user experience of an analytics app. 
2. AR and VR – The industry has seen some major steps forward for augmented reality (AR) and virtual reality (VR) technology in 2016. Oculus Rift was released, to positive reception, and thousands of VR apps and games followed, including Pokémon Go, an AR game that exploded with over 100 million downloads. The market is ready for AR and VR but it’s going to be next year before we see things really take off. Once they do, you’ll need to be ready for AR and VR versions of practically everything—and ample marketing opportunities to follow.
3. On-Demand- Thanks to brands like Uber, consumers are now accustomed to having everything on demand via phone apps. In 2017, experts expect this to see this develop even further. We have thousands of apps available to us to get rides, food deliveries and even a place to stay for the night but soon we’ll see this evolve into a larger territory.

If you do not have a corporate community program, now is the time to start! To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Business Goals for 2017

Global Resources is a business development group and general management consulting firm that utilizes education and experience to assist the owners of small and medium-size businesses in achieving success. 

Many small businesses are interested in the SMART approach. The SMART approach to setting goals is more effective than conventional goal settings as it is specific, measurable, attainable, realistic and time-based. When you run your business resolutions through a SMART list, you can figure out if they are actually feasible and sustainable. Without a SMART approach, you may be chasing an impossible goal and wasting your energy in the process.

Here are some SMART goals you should set for your business in 2017:

Manage My Cash Flow More Effectively - Cash flow is the lifeblood of every small business. Many businesses go broke without being able to manage their cash flow wisely. Make a resolution to learn the cash flow best practices for small businesses and stick to them. Here is some quick advice on how you should get started:

• Invoice Promptly
• Tighten Employee Spending Controls With New Technology
• Give a Reward For Quick Payment
• Go After Receivables
• Pay Bills Only When They’re Due

Improve My Digital Presence - Having a decent digital presence is a must for small business success. With an increasing number of people turning to Google Search for local business information, you could be missing out on potential business opportunities if you don’t have a website. If you already have a website but it hasn’t been updated in a year or longer, make a resolution to update it and boost your online presence. From building a mobile-friendly website to starting a content marketing campaign, there is a wide range of best practices for small business websites you could follow in the New Year.  

Build a Social Media Presence for My Business - Apart from updating your website, improving your presence on social networks is equally imperative. If you’re still in doubt whether it’s worth creating a Facebook Page or Google My Business profile, you’re potentially behind the competitive curve. With a whopping 78% of US population frequenting social media networks, investing in social media marketing is a crucial step to your success in 2017. 

Reduce Costs in My Business- Poor expense management skills are one of the most common reasons why small businesses struggle to improve their revenues. Whether you’re a seasoned business or a small start-up, reducing costs is incredibly important in order to boost your bottom line.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Corporate Giving in the New Year

The professionals at Global Resources utilize expertise and knowledge to access the information necessary for small business growth.   We can help the owners of small and medium – size businesses incorporate charitable giving into their corporate practices. In our modern society, more and more small businesses are supporting causes they care about by establishing their own charitable funds. As we enter the New Year, we expect to see many new businesses, small and large, incorporate charitable practices into their plan.

A corporate community charitable fund provides a variety of benefits including adding value to your corporate social responsibility program and increasing employee engagement, by giving your people the chance to feel good by doing good.

There are several benefits of establishing a corporate fund or workplace giving arrangement:

• acknowledgement as an employer of choice
• improved workplace culture
• enhanced ability to attract and retain quality staff
• increased workplace morale and engagement
• build support from your local community and customer base
• add value to your company’s reputation and brand.

 If you’re interested in workplace giving, here are some additional details: 

• Workplace giving is a simple and effective way for staff to regularly donate to charitable organizations.
• It operates under a pre-tax system, which results in an automatic tax deduction for employees, without the need for staff to keep and claim receipts. There is no tax payable on the amount employees forego, and no liability for fringe benefits tax.
• Employees pledge a nominated amount to the company’s sub-fund and the donation is automatically deducted from their pay and sent to the sub-fund.

If you do not have a corporate community program, now is the time to start! To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Small Business Tips for the New Year

Global Resources helps put small and medium – size businesses on the path to success.  As we enter 2017, we know many business owners around the country are looking to improve upon their business practices.  Below are simple tips that can be incorporated into your routine to help reach your goals:

1. Set Business Resolutions - New Year’s resolutions are not all about losing weight. It is beneficial to lay out what you want for your business in the coming 12 months. Be specific, so you can actually measure results and see whether you accomplished them by year’s end.
2. Build a Promotions Calendar - Sit down with a calendar and start looking at all the holidays or events you want to build promotions around. This will give you ample time to plan your social media updates, blog posts, advertising campaigns, etc.
3. Invest in Technology - If you’ve been putting off that computer or software purchase, now’s the time to go ahead with it. You’ll be more efficient, if you have a computer that doesn’t take an hour to load. 
4. Create a Conference Plan - Attending conferences and industry trade shows can be so beneficial for you as a business owner. Not only can you meet others in your field (or potential customers) but you also learn from leading experts. 
5. Reevaluate Your Online Brand - This is a great time to tweak your online strategy so that you identify the tools that helped your business grow, and cut back on those that don’t.
6. Refresh Your Employees’ Skills – The New Year is a great time to offer supplementary training to refresh employee’s skills or help them learn new ones. 
7. Further Your Knowledge - Your employees aren’t the only ones who could learn more. Read industry blogs, books, magazines, and anything else you can get your hands on to be on top of the trends in your industry.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Business Loyalty Programs

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.

Many businesses have been growing by creating successful loyalty programs for customers.  Here are tips, along with examples of how big-name companies have implemented these tactics: 

1. Integrate loyalty into the full experience:  Starbucks, the brand that created loyalty by differentiating the ordinary experience of drinking coffee, has also managed to create a strongly differentiated loyalty program. To do this, the company integrated payments and mobile technology with the Starbucks shop experience to make the transaction more enjoyable. 
2. Use the data: The Target REDcard combines loyalty and a valuable discount program – 5 percent at the point of sale. They have moved past the flat “discount-only” model by building out industry- leading data capabilities, using the data to target highest-value consumers (e.g., future moms). 
3. Solve customer and industry pain points: Amazon’s largest success in loyalty is built around solving one of online shoppers’ primary pain points: delivery. For $79 a year, members of the online retailer’s “Prime” program get free two-day shipping, plus free digital content. Prime not only integrates tightly with Amazon’s customer and convenience-focused brand, it also creates a loyalty program for suppliers, who rely on Fulfillment By Amazon for access to Prime customers. While Prime’s stand-alone profitability is a closely guarded secret, it is estimated that members spend over four times more with Amazon than non-members. 
4. Maximize difference between perceived value and real cost: Like most hotel loyalty programs, the major focus of the Starwood Preferred Guest (SPG) program is to attract high-value travelers by offering rewards for personal leisure travel. Redemptions generally occur on weekends, when these hotels have relatively low occupancy and incur limited incremental cost. Starwood has also developed a series of offerings (e.g., upgrades, flexible check-in, Internet) that are highly valuable to their top customers, but bear little marginal cost. Overall, Starwood’s loyalty program has improved its brand appeal and helped the chain achieve above market growth, despite relatively low overall guest satisfaction scores. 

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Tips to Increase Business During the Slow Season

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.

Many small businesses experience a slow season from November through January.  For those trying to increase sales through the holidays, we have suggestions that may help:

1. Revisit old leads- If you are organized with your sales leads, you probably have a list of old leads to market to. Start contacting these old leads to see if they still have a need for any work. You would be surprised what one follow up call or email can do even for leads that are a few months old. 

2. Create a seasonal promotion - During the holiday season people are looking for a deal. Create a special holiday discount that is only valid through your slow season!

3. Make the most of the leads coming in - Unlike the busy season when you may be booked for months and can be more selective about the jobs you take, in the slow season you need to try and book every job you can. That means changing your sales and follow-up style to be more aggressive. Every job won really counts in the winter when you are struggling for work. That means you should call every lead faster and follow up more times.

4. Launch a referral program - Create an incentive for customers to recommend you to friends and neighbors. Post the promotion on your website, send an email to your contact list and call loyal customers to tell them about the new promotion.

5. Diversify your services- Many small businesses add extra services during the holiday season. For example, many contractors will start a Christmas light hanging business a month before and after Christmas. Think outside the box and use tips 1-5 to alert your past customers about your new offerings.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266. 

Reasons to Hire a Business Consultant in the New Year

Global Resources is a full-service business development group and general management consulting firm focused on small and medium-size privately-held companies in North America. We help business owners access the information that is often necessary for growth.  During the New Year, there is typically an increase in small and medium – size businesses looking to partner with business consultants. If you’re a business owner considering hiring a consulting firm, here are reasons why it may be in your best interest: 

1. External change- It can be hard for companies to do what’s right, particularly when it comes to job layoffs, salary and benefit changes/reduction, and major operational and strategic shifts. Hiring consultants can be a way to reach the desired conclusions with sufficient political cover in case certain parties are unhappy.
2. Best practices across industries and functions– consultants have the rare privilege of serving multiple clients in the same sector and serving multiple clients facing similar problems across different sectors. This enables them to recognize common attributes of effective solutions, applying lessons learned in applicable situations. This knowledge is partially institutionalized at each consulting firm (in the form of white papers, databases, post-project reviews, etc.); however, much of the information exists in the collective heads of partners and to a lesser extent, senior consultants.
3. Analytical horsepower - Companies may need help solving issues and executing strategies where their skillsets and knowledge are insufficient. Consultants can be of great value given their training and capabilities. 
4. Fresh perspective - Companies often need a fresh set of eyes.  In fact, you’d be amazed at the amount of value consultants can add based on the most mundane observations and insights. Critics contend that this is an example of consultants selling “glorified common sense,” but for front-line client employees, it can be easy to fall into daily routines without a critical eye towards measurement, analysis, and improvement.
5. Training and skillset augmentation - Every consulting project – particularly ones with heavy client interaction – incorporates client training as a major ingredient. The best recommendations are worthless if clients can’t implement and maintain suggested changes. Thus, a large part of what consultants do is to educate client employees on necessary knowledge, skills, and mindsets.

To learn more about us and / or to schedule your complimentary appointment with the business consultants at Global Resources LLC, call us at 855-338-0266.