Making Sales in the New Year

Global Resources helps put small and medium – size businesses on the path to success.  As we begin the New Year, we look at the significance of sales in the small business marketplace.  Below are four sales trends that will greatly affect the revenue of small businesses around the country:

  1. Sales and marketing have a closer relationship – The familiar disconnect between sales and marketing is sure to lessen as people start seeing the benefits gained from working cohesively. Whether it’s called sales enablement or just doing good business, these two departments will interact and engage more, which will lead to an increase in revenue.
  2. Cold calling will be affected by the impact of social media marketing – With a variety of new solutions and selling strategies available, cold calling is likely to diminish in its significance as an exclusive sales strategy for companies in the future. Consumers will be more likely persuaded when cold calls are done within a marketing strategy that includes social media touch points that helps turn a cold call into a warm call.
  3. Social selling is king – The new type of social selling is extremely important for salespeople to learn more about the people they are selling to. With this model, you can target companies and even know more about the pain points these individuals and their companies are experiencing.
  4. Discounts and loyalty programs will continue securing more sales – It was reported that an annual survey of 500 small to medium-size businesses found that 26 percent of their sales come from discounts. The average consumer is far likelier to purchase goods or services if they are offered an incentive or discount, especially from a business they are familiar with and have patronized in the past.

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.

Understanding Advertising & Marketing Laws in Business

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 understand that marketing and advertising your products or services effectively is key to the success of your business. However, all businesses have a legal responsibility to ensure that any advertising claims are truthful, not deceptive and that your marketing activities don’t break the law.

The Federal Trade Commission (FTC) oversees and regulates advertising and marketing law in the United States. These laws can potentially impact many areas of your business, including how you label your products, how you conduct email and telemarketing campaigns, any health and environmental claims you may make, as well as how you advertise to children.

Below you will find links to useful FTC resources and guides that can help you understand these laws and how they apply to your business.

  • Truth in Advertising and Marketing Claims – Learn how you can ensure your promotion activities are truthful and not deceptive.  Areas covered include using endorsements in your marketing, advertising to children, “Made in the USA” labels and health and environmental claims.
  • Industry Guides – The FTC has some rules and compliance guides for specific industries including franchises, real estate, clothing manufacturers, and others. Learn information on laws that could affect your industry or business type.
  • Telemarketing – Learn how the National Do Not Call Registry and other laws impact your telemarketing efforts and how to comply.
  • Email SPAM – Planning an email campaign? The law is very specific on what email you can send and to whom.  Be sure to understand email SPAM before you send out an email campaign.

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.

How to Achieve Success in the Workplace

The consultants at Global Resources help all levels of business professionals achieve success. This year, make your New Year’s resolution to boost your efficiency, productivity and fun for a milestone year unlike any other. Here are tips to get you off and running:

  1. Prioritize. Create 3 different task lists: month, week and day. On each list identify 2 to 3 of the most important assignments or projects so you can focus and plan ahead with a clear vision on how you will accomplish each one. 2 to 3 objectives on each list will leave you room in your day for emergency projects.
  2. Ditch distractions. Internet, email, phone calls and even unnecessary meetings not just can, but will result in heaps of unproductivity. Bolster your willpower and limit yourself!
  3. Just say no! Stop being so polite. When you’ve reached your boiling point learn how to politely say “No” to additional work.
  4. Streamline. Did you know having a to-do list on your phone, table computer, work computer and your paper planner commonly has the opposite effect of staying organized? It actually increases your chance of forgetting tasks. Just pick one method and stick with it.
  5. Delegate. There’s no “I” in team. Learn to hand out some tasks so you can free up some time to do what you need to.
  6. Look ahead. Stop putting out fires for a minute and take some time to strategize a few moves down the road. Then stick it on your monthly task list so you don’t forget it. It’s good to do this about once a week so you can visualize and plan for any changes to your task list.

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

Unconventional Places to Find New Employees

The professionals at Global Resources utilize expertise and knowledge to access the information necessary for small business growth.   We often help the owners of small and medium – size businesses redefine key staffing roles, select fitting candidates and train new employees. Lately, we’ve seen many business owners questioning various recruiting methods. However, in today’s market, many successful business leaders are looking at unconventional places to find new employees:

  1. Panels/lectures – Industry panels and lectures are held regularly, especially in larger metropolitan areas. Participating in or hosting a panel is a great way to not only position your company as an expert in your field, but also find potential job candidates. Members of multiple industries can get together in this space to discuss ideas and collaborate, which could lead to the employment of someone who might not have been aware that your company is hiring.
  2. Virtual career fairs – Online job fairs are becoming a popular alternative to physical career fairs. These virtual events provide all the benefits of showcasing your company at a career fair, but without the travel commitment and large expense. Companies can also find out-of-area candidates who wouldn’t be able to attend an in-person event, allowing them to reach new faces that they would otherwise miss.
  3. Hosted networking events – Industry networking events are good for more than just finding potential business partners and mentors. Hosting an informal “networking night” will draw individuals who are interested in your company. Candidates will appreciate the ability to speak with potential bosses and coworkers in a casual, relaxed atmosphere, and learn more about the company from people they’d actually be working with. 

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.

Tech Predictions That May Affect Small Business

The consultants at Global Resources help business professionals access the information necessary to reach success.  As business pros look ahead into the new year, many are looking at popular predictions expected to affect lifestyle and business:

  • AOL Will Get Cool Again – Surprising to many, the “You’ve Got Mail” progenitor is getting its groove back. With the help of a series of ad-tech acquisitions—like Millennial Media, Vidible and Convertro—the Verizon ( vz  )  unit is building out a powerful new advertising platform, called ONE by AOL. Although it may not make it into another romantic comedy, AOL is actually looking downright hip to tech-savvy marketers.
  • The iPhone Will Get a Radical Upgrade – The rumor mill is already cranking with leaks about the iPhone 8, due in 2017. Marking the 10th anniversary of Steve Jobs’ original iPhone, the new model is expected to include radical changes like a super-high-resolution OLED screen that stretches from edge to edge of the device and a home button transformed into a virtual on-screen button. Other rumored features include wireless charging capability. After the mildly disappointing iPhone 7 that launched recently, the next update should be a more radical hit.
  • Uber and Airbnb Will Conquer the Sunbelt – The new economy’s ride-sharing and home-sharing giants are most popular today in dense coastal cities, such as New York, Boston and San Francisco. But new research suggests Uber and Airbnb will make more inroads in the Southwest next year: It found significant spikes in news and social media mentions of the phrase “sharing economy” in cities including Phoenix, Denver, Las Vegas and Dallas.

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

3 Business Tips for Entrepreneurs

Global Resources LLC has the expertise to help entrepreneurs launch small businesses. Starting a business is a huge commitment that can reap many long-term rewards. If you’re looking to become a business owner, we can help put you on the path to success.

If a new business is on your horizon, here are three general tips that can help you reach your goals:

  1. Save as much money as possible before launching – All too often, people go into business without any savings, exclusively using loan money from friends, banks or the SBA. They expect to be able to start paying the loans back right away with their profits. What these business owners don’t realize is that it can take months or years to make a profit. And once a lender discovers a business isn’t as profitable as expected, the lender is likely to call in the loan or refuse to renew it for another year, if the terms of the loan agreement allow for such action. Often new business owners then have to take out home equity loans or use credit cards to pay off their loans (which puts their home and credit rating at risk).
  2. Protect your personal assets – When you go into business for yourself, you are usually personally liable for all judgments and debts that the business incurs. This includes business loans, taxes, money owed to suppliers and landlords and any judgments against the business as a result of a lawsuit. If you don’t protect yourself, a creditor can go after your personal assets, such as your car and your house, to pay for these debts.  The type of legal entity you chose for the structure of the business should be evaluated for its effect on the personal liability of the owner.
  3. Understand how — and if — you will make a profit- You should be able to summarize how your business plans to make a substantial profit. For starters, you need to know your costs: how much you’ll spend purchasing inventory, paying the rent, compensating any employees and covering what is likely to be a surprisingly long list of other costs. Then you can figure out exactly how much you need to sell each month, for how many dollars, to cover those expenses and have an adequate profit besides.

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

Tips to Maximize Your Holiday Networking Events

Tis the season for networking events filling your social calendar.  So, the business consultants at Global Resources have tips to help you maximize your networking experiences. 

  1. Remember that networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
  2. Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. Some meetings are based more on learning, making contacts, and/or volunteering rather than on strictly making business connections.
  3. Visit as many groups as possible that spark your interest. Notice the tone and attitude of the group. Do the people sound supportive of one another? Does the leadership appear competent? Many groups will allow you to visit two times before joining.
  4. Hold volunteer positions in organizations. This is a great way to stay visible and give back to groups that have helped you.
  5. Ask open-ended questions in networking conversations. This means questions that ask who, what, where, when, and how as opposed to those that can be answered with a simple yes or no. This form of questioning opens up the discussion and shows listeners that you are interested in them.
  6. Be able to articulate what you are looking for and how others may help you. Too often people in conversations ask, “How may I help you?” and no immediate answer comes to mind.
  7. Follow through quickly and efficiently on referrals you are given. When people give you referrals, your actions are a reflection on them. Respect and honor that and your referrals will grow.
  8. Call those you meet who may benefit from what you do and vice versa. Express that you enjoyed meeting them, and ask if you could get together and share ideas.

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.

Cost-Saving Tips for Your Office Holiday Party

The business consultants at Global Resources have the expertise to help small and medium – size businesses achieve success.  During the busy holiday season, we have noticed many business owners have questions about holiday parties for the office.

Here are popular cost-saving tips that many small business owners are following this holiday season:

  • Host a Lunch Event or Make Your Dinner Business Casual – It is always more cost-effective to build the holiday party event catering from a luncheon menu as opposed to a dinner menu. Not only will the menu options save money, but a daytime event during the week can also cut the guest list in half by limiting guests to employees or clients only with no spouses or personal guests.
  • Consider Co-Hosting the Holiday Event – Co-hosting the holiday party with another association, professional group, another internal department or even important business partners can help defray costs, while also providing networking opportunities to your group.
  • Limit Alcoholic Beverages – Many more organizations have been doing this in the last few years. A couple successful strategies include offering a signature drink, limiting options to beer and wine or offering a two drink maximum. Another suggestion is to eliminate alcoholic beverages completely, which also eliminates any potential liability. Know your organization and opt for a strategy that will suit as many people as possible without carrying the costs of an open bar.
  • Opt for Mini-Desserts Rather than Full Servings – The rule of thumb is that most guests take two bites of dessert and the remainder gets tossed. Avoid this costly waste by setting up a dessert station with small portions and smaller quantities, where guests can help themselves to bite-size or appetizer-like portions of only what they like.

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.

5 Retail Trends for 2017

Global Resources LLC has a team of expert business professionals that are leaders in the retail business which are owned by entrepreneurs and managed as a family business .  As we approach 2017, we are looking ahead to trends expected to be at the center of the retail industry:

  1. Environment – Customers are yearning for unique retail experiences and reward the retailers who provide this. Smart retail business owners will understand that they must treat their stores as their homes by welcoming customers into a warm and inviting place and eliminating the pushy sales approach.
  2. Ultra Convenient – The rise of ‘push-button’ products and services, such as Amazon Dash Buttons, or talking to Siri or Alexa to reorder specific products at home are rising in popularity. So are easy order services for home/office delivery, like UberEats and Postmates.  Some retailers have even moved past the button and are building sales through subscription services, including Trendsend and Stitch Fix. With all these advances, convenience is key to the modern-day consumer.
  3. Expanding Mobile – The mobile retail arena is evolving even more.  Retail strategies incorporating the mobile device will become much more sophisticated and honed for smooth integration into the overall customer experience.
  4. Expect a Digital Shift – Most retailers already have an established a digital presence, but there will be an accelerated shift to mobile and cross-platform interactions. Mobile share of global ecommerce is expected to grow from 40% in 2015 to 70% by the end of 2017, as we see the vast majority of online shoppers start transactions on one device and end on another. Ecommerce will be leading this paradigm shift since it drives change and folds in new technologies that come from the consumer.
  5. More Niche Retailers – The coming year will bring the rise of niche retailers, for both new brands and existing brands. This will lead to smaller store footprints and personalized service with knowledgeable sales associates. This will satisfy the demands from consumers who want a unique and customized service.

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

Small Business Assistance from SBA

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 critical for growth.  Since many small and medium – size businesses seek out loans and grants for progression, we wanted to provide valuable information on SBA.

The SBA is a great contributor to the growth of small business. The programs are many and varied, and the qualifications for each are specific. SBA can help facilitate a loan for you with a third party lender, guarantee a bond, or help you find venture capital. SBA provides a number of financial assistance programs for small businesses that have been specifically designed to meet key financing needs, including debt financing, surety bonds and equity financing.

  • Guaranteed Loan Programs (Debt Financing) – SBA does not make direct loans to small businesses. Rather, SBA sets the guidelines for loans, which are then made by its partners (lenders, community development organizations, and microlending institutions). The SBA guarantees that these loans will be repaid, thus eliminating some of the risk to the lending partners. So when a business applies for an SBA loan, it is actually applying for a commercial loan, structured according to SBA requirements with an SBA guaranty. SBA-guaranteed loans may not be made to a small business if the borrower has access to other financing on reasonable terms.

SBA loan guaranty requirements and practices can change as the Government alters its fiscal policy and priorities to meet current economic conditions. Therefore, you can’t rely on past policy when seeking assistance in today’s market.

  • Bonding Program (Surety Bonds) – SBA’s Surety Bond Guarantee (SBG) Program helps small business contractors who cannot obtain surety bonds through regular commercial channels. A surety bond is a three-party instrument between a surety (someone who agrees to be responsible for the debt or obligation of another), a contractor and a project owner. The agreement binds the contractor to comply with the terms and conditions of a contract. If the contractor is unable to successfully perform the contract, the surety assumes the contractor’s responsibilities and ensures that the project is completed.

Through the SBG Program, the SBA makes an agreement with a surety guaranteeing that SBA will assume a percentage of loss in the event the contractor should breach the terms of the contract. The SBA’s guarantee gives sureties an incentive to provide bonding for eligible contractors, thereby strengthening a contractor’s ability to obtain bonding and greater access to contracting opportunities for small businesses.

SBA can guarantee bonds for contracts up to $5 million, covering bid, performance and payment bonds, and in some cases up to $10 million for certain contracts.

  • Venture Capital Program – SBA’s Small Business Investment Company (SBIC) Program is a public-private investment partnership created to help fill the gap between the availability of growth capital and the needs of small businesses. The SBA does not invest directly in small businesses, relying instead on the expertise of qualified private investment funds. The SBA licenses these funds as SBICs and supplements the capital they raise from private investors with access to low-cost, government-guaranteed debt.

With these two sources of capital backing them, SBICs search across the United States for promising businesses in need of debt or equity financing. SBICs are similar to other investment funds in terms of how they operate and their pursuit of high returns. However, unlike other funds, SBICs limit their investments to qualified small business concerns as defined by SBA regulations.

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.