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5 Important Similarities Among Small and Midsize High-Growth Companies

Do you ever think about what strategies and tactics set fast-growing companies apart? Or maybe you ponder how their revenue continues to boom? These are all great questions that merit some logical responses. In today’s business world, small and midsize companies are truly set themselves apart. In doing so, they are scaling their business and increasing profits.

But, how are they accomplishing this?

Global Resources LLC consultants sat down to examine the strategies and investments that high-growth small and midsize companies integrate into their business models. Let’s take a look at some of the most noteworthy tactics that are worth considering.

Customer Growth

It’s largely apparent that high-growth companies implement some of the best customer growth strategies out there. Not only that, they do it much better than other companies as well.

Here are the five core elements of a customer growth strategy:

  • Expand/retain existing customers
  • Serve new markets and customers
  • Create operational efficiencies to better scale for growth
  • Introduce new products and capabilities
  • Grow the sales force

How do they accomplish this? Well, they have…

Leaders in Marketing and Sales

Investments in diversified growth strategies call for specialized and elite leadership. Generally speaking, high-growth companies are more likely to have prominent leadership in marketing and sales. In addition, high-growth companies are much more likely to feel that their use of technology is extremely helpful and efficient. This is something that you always want your employees to feel about your company.

New Customers = Greater Revenue

Since high-growth companies focus on customer growth strategies, they generally rely more on new customers to fuel revenue growth. Sure, this is no easy task. Once again, top-notch leadership and cutting edge technology play a crucial role in how efficiently these growth strategies are delivered and, ultimately, carried out.

Investments in Talent and Technology

To augment their customer growth strategy, high-growth companies are much more likely to invest in adequate training for new talent and technology. Ultimately, this is very logical because you’re growing the talent and processes that come with supporting those new customers.

Packaged Applications

High-growth companies avoid spreadsheets and instead use specialized applications to scale their businesses. As small businesses grow, purposeful applications streamline customer engagement. Rather than devoting the time and money to creating a custom solution, small and midsize companies purchase packaged applications with great processes. This makes things much more seamless.

Check out Global Resources Reviews to learn more.

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6 Tips For Using New Technology

As you know, technology is a constantly changing and evolving landscape. Furthermore, it is always changing the way businesses operate. Sure, that can be a good thing. Having said that, it can make it difficult for small businesses to keep up.

In today’s day and age, how do you effectively use technology to benefit your business? Sure, that’s a loaded question, but also one that deserves some answers. Well, we have them for you.

Entrepreneurs within the online small business community know exactly what it’s like to work with changing technology. Global Resources LLC consultants conducted some research on tips to keep up in the ever-changing landscape of technology.

Build a Chatbot for Your Business

Chatbots are great for things like customer service. Having said that, it’s important to understand how exactly to use this technology before diving into it. Take some time to do your research first and we’re confident that a chatbot will be the right move for your business.

Use Virtual Data Rooms

Protecting and preserving your data should be a top priority for just about every small business owner. Virtual data rooms allow you to keep data safe in the cloud. Many businesses use virtual data rooms and speak very highly of them.

Enhance Your Security

There is a myriad of security methods you should consider to keep your business’s physical and virtual property protected. Take time and do some research to figure out the best options for you.

Master SEO

Machine learning can offer some tremendous benefits to businesses. Having said that, it can also complicate things when it comes to SEO. Learning how to use SEO with respect to your business is one of the best practices you can do as an owner. An SEO strategy is an absolute must when it comes to small business and technology.

Exploit Lead Nurturing Emails

With all the technological advances over the past decade and beyond, email remains a powerful way for businesses to follow up on leads and prospects. Develop a coherent strategy that attracts leads down the sales funnel.

Use Social Media to Build Web Traffic

Social Media has a major impact on how people communicate and how businesses advertise their products and services. Our best piece of advice: learn to use three or four social media platforms really well in order to market your product or service properly.

Check out Global Resources Reviews to learn more.

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The Best Accounting Software for Your Business

With so much to do every single day, accounting doesn’t always top the list for small business owners. Using the right accounting software can truly help small businesses manage invoices and payroll. Furthermore, when accounting software is free, it’s truly a no-brainer. As a small business owner, it’s essential to master your accounting in order to scale your company and take it to the next level.

Let’s take a look at what Global Resources LLC consultants consider to be the seven best free accounting software options for small businesses.

ZipBooks

ZipBooks offers you a powerful and user-friendly accounting software aimed to help take your business to the next level. ZipBooks has a free starter option, which includes unlimited invoicing, unlimited vendors and customers, unlimited bookkeeping, and the ability to manage one bank account.

xTuple PostBooks

xTuple PostBooks is enterprise resource planning (also known as ERP) software. This means that, outside of accounting, your business will be able to track sales, monitor inventory, and utilize a specific customer management system.

SlickPie

SlickPie is great for expense management. The software is easy-to-use and it provides everything your business needs for stress-free accounting. The invoicing system is seamless and the software also provides you with detailed reports in order for you to stay on top of your finances.

Wave

Wave is a completely free accounting tool that allows you to track expenses, send invoices, and get paid. With Wave, you’ll be able to send professional invoices as well as track the status of each one. One of the best perks is that you can accept credit cards and receive money faster with Wave.

Inv24

Inv24 is also an entirely free invoicing and inventory tracking software. This allows small businesses to organize and invoice their customers through its automated tool. Furthermore, businesses can save PDF versions of invoices.

Brightbook

Brightbook is geared towards helping time and cash-strapped small businesses with no prior accounting experience. With Brightbook, you can send out super professional-looking invoices and track bills using its user-friendly system.

Inveezy

With Inveezy, you can customize your own invoices with logos, get paid via PayPal or credit cards, and send out invoices as quotes rather than an actual bill. This multi-faceted accounting tool is entirely free.

If you’re looking to take your business to the next level, consider using some of these accounting software programs. You’ll be very happy that you did as you’ll soon see more organization, which will help to free up your time. Check out Global Resources Reviews to learn more.

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The Importance of Online Information

It’s no surprise that 80% of consumers lose trust in a business whenever they see incorrect information online. Think about it – that’s four in every five customers. If you have incorrect information or inconsistent contact details or business names, you may want to fix that – fast.

If the citations of your company’s name and contact information are wrong, you will have negative digital results on search engines. In the brick-and-mortar world, your customers will very quickly lose trust in your business. This is something that you want to avoid.

For the most part, small businesses are in no position to lose customers. Thus, getting this information correct is fundamentally and critically important.

Having said that, mistakes CAN happen.

Consider this quote from Brightlocals’ 2018 Local Citations Trust Report:

“Due to human and program error, mistakes and inaccuracies can slip in and provide a very different experience than intended.”

Sure, mistakes might, can and will happen. Having said that, let’s take a bit of a closer look at how mistakes can really impact your business

More Data From the Report

80% of consumers said they lose trust in a local business when the information is incorrect. Furthermore, 93% said they are frustrated with the same experience.

Based on the report, only 24% of consumers will contact a business before going to visit.

What does this mean? This means that 76% of consumers truly rely on information found on companies’ websites. If there is any sort of hardship involved as a result of incorrect or inconsistent information, your potential customer will likely be very turned off.

The report contained even more consequences for businesses with the incorrect information. It noted that 68% of consumers said they stop using businesses as a result of inaccurate information online. This is a startling statistic.

Get It Right The First Time

Sure, we know that running a small business is no easy task. Certainly, there are a myriad of things that are extremely time-consuming, resource-draining and largely complicated. Having said that, getting local citations right and establishing correct information online should be a no-brainer. Global Resources LLC consultants strongly recommend that you get your information right the first time. By ensuring that your information is correct, you can not only prevent a tremendous amount of consumer frustration, but you can also “sell” customers and increase your profits. What could be better?

Check out Global Resources Reviews to learn more.

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Earth Day Activities for Your Small Business

With Earth Day coming up on April 22nd, there are some creative ways for your small business to partake in eco-friendly activities. Surprisingly, many of these activities can make your office more energy-efficient and might even spark some inspiration within your office.

Global Resources LLC consultants suggest the following seven activities to make the most of Earth Day in 2018.

Plant a Tree

We know you love greenery. Earth Day is a great opportunity to plant a tree in the communal space outside of your office or storefront. Assemble your team to add some greenery and discuss how trees improve air quality.

Clean Up Your Community

Cleaning up areas of your community, such as a local park, can help reduce pollution and also serve as a great team-building activity (especially for employees who are environmentally conscious). You can even invite some of your best partners and top clients to help you in your efforts.

Volunteer with an Environmental Group

With the plethora of environmental non-profits around the U.S., many are likely to host their own clean-up and eco-friendly efforts on and around Earth Day. Take some time to support their mission on this special day and network with other members of the community.

Create a Garden on Your Rooftop

Feel free to add some greenery by initiating a garden on your rooftop or even by simply have plants along your window sills. In doing so, you can grow fresh vegetables to use in your kitchen.

Establish a Printer Policy

Having a concrete printer policy can result in some tremendous environmental benefits. For example, you can save paper by specifying when employees should be using digital copies of documents instead of hard copies.

Install Timers for Lights

You can always make your business greener by preserving electricity. Consider installing light timers so they turn off automatically if/when they don’t sense movement in a room for a period of time.

Carpool When You Can

Starting a carpool is not only environmentally friendly, it is also a lot of fun. By carpooling, you will decrease the amount of pollution let into the air in your area.

As Earth Day approaches, consider following some of these eco-friendly tips in order to make your small business greener. Your employees, partners, and clients alike will all appreciate the efforts and you will certainly make a positive statement in the process. Check out Global Resources Reviews to learn more.

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3 Ways to Enhance Your Digital Marketing

As a small business owner, chances are you have some form of digital marketing for your business. Whether you meant to get involved in marketing or not, you likely realized that your business would be dead without it.

We do know, however, how difficult marketing in today’s day and age truly is. There will be times when you feel like you’ve done everything you can and just don’t know what the next step might be.

With a myriad of online tools and mediums for marketing, it can be challenging to understand where to start and the direction in which you should take your marketing efforts.

Global Resources LLC consultants recommend the following three tips to enhance your digital marketing efforts. After all, some of these tips are relatively simple and, best of all, you can use them for free.

Enhance Keywords

Generally speaking, there is a reason as to why some of your great content doesn’t catch on. Chances are, while you’re producing some engaging content that is relevant to your target audience, you may not have the best keywords embedded into your article(s). Sure, you may have some awesome content out there, but what’s the point if nobody can find it?

Understanding keywords and learning the right ones for your particular business is imperative. Taking time to review a tool like ubersuggest will allow you to search keywords and see how they are performing online. Not only that, it also provides you with other keywords that you probably wouldn’t have thought of before.

Using a tool like this will allow you to have a pretty extensive list of relevant and targeted keywords for your business. You can use these words year round to ensure that you’re getting the proper attention that you deserve.

Write Impactful Emails

Consider using Really Good Emails, a website that provides you with a database of wonderfully-written emails.

RGE allows you to browse their best emails for free. After searching by category, you’ll be presented with an array of email options.

If you have a great email, you can even submit it to them if you’d like it to be featured.

Create Captivating Graphics

Canva has earned itself a significant amount of attention in a short amount of time.

For business owners who lack design skill, Canva is a great tool for accessing high-quality graphics without the manual labor that goes into Photoshop. Ultimately, the company’s mission is to be a one-stop shop for any design work that a business needs.

You really can’t go wrong with exploring at least some of the digital marketing options on this list. You will thank yourself for it in the long run as you’ll reap the rewards of increased sales and profits.

Check out Global Resources Reviews to learn more.

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Five Reasons to Utilize Instagram

It is no question that Instagram is one of the world’s most popular social media apps. Furthermore, it is the number one platform for small business owners. With Instagram, you are able to connect with your target audience on a very unique and explicit level. Small businesses have been using Instagram to resonate with their audiences for years.

But how?

Global Resources LLC consultants have assembled a list of five reasons small businesses use Instagram to promote their business.

Create a Face For Your Brand

 Since Instagram is a visual platform, you are able to connect with your followers on a personal and intimate level. Through picture and video sharing, you are able to engage your audience. You can even take this a step further by sharing pictures of happy customers. This will help form an emotional connection with our followers.

Improve Sales

Instagram allows you to keep your audience updated about sales and unique promotions. Creativity is a large part of this, such as running a promotional campaign in order to drive more people to your website.

Another way to use Instagram is to provide sneak peaks or teaser videos that offer insight into new products.

Tell Stories

Instagram provides the ideal platform to be creative and tell stories. Ultimately, you want to boost audience engagement, right? Use the platform to tell authentic stories, run sales, and hold contests.

Build Connections

Yes, social media is largely about networking. Through Instagram, you are able to connect with like-minded people who have comparable interests.

Stay on Top of Consumer Trends

Instagram is a great way to stay up-to-date on new trends. You may want to consider promoting causes or posting holiday-related content.

If you’re looking to improve engagement and boost sales, consider using Instagram to your advantage sooner rather than later.

Check out Global Resources Reviews to learn more.

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3 Cash Windfall Tips for Entrepreneurs

It’s an amazing feeling.

All of a sudden, of out nowhere, you receive a windfall of cash. This can be a result of an inheritance, a bonus at work or even some sort of promotion at work. Regardless of the reason, there are a number of ways you can utilize this cash that will leave you feeling either super relaxed or very stressed out.

Sure, you may want to spend some of it right away. Having said that, the best option for you would be to save it and/or re-invest that money for the future.

Global Resources LLC consultants recommend the following three tips for managing a cash windfall.

Avoid Short-Term Lifestyle Upgrades 

We know it’s tempting. You’ve just received a [potentially] significant amount of cash and want to spend it on some lavish items to upgrade your lifestyle. Having said that, it’s important that you don’t fall victim to lifestyle inflation.

This, of course, doesn’t mean that you will never have the opportunity to upgrade your lifestyle. Rather, it simply means that you are going to hold off until you are in a secure place financially. At that point, and only at this point, you are more than welcome to indulge. Remember, you always want to pay yourself first – allocate money into different accounts or consolidate it into one fund in order to reach your goals.

Maintain Your Saving Habits 

Even though you’ve just received some extra cash, don’t let your savings goals fall by the wayside. Sure, it’s easy to splurge on items of little to no importance, but you should ultimately use your cash windfall to move you into greater financial security.

Act Like You Never Got It 

The best way to handle an unexpected influx of cash is to pretend like you never got it. Rather than buying something frivolous or useless, keeping socking away money to help you reach your short and long-term goals.

There are times when you may receive a cash windfall from your parents. The best way to manage that money is to keep it invested or in a savings account and to forget you ever received it. This will prove to be very beneficial in future years to come.

Recap 

By following these three critical tips for managing a cash windfall, you will remain motivated to save and grow your money for many years beyond your receipt of the windfall. Check out Global Resources Reviews to learn more.

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Is Brick and Mortar Retail Making a Comeback?

If you have been paying attention to business headlines lately, you might have heard that traditional brick and mortar retail is dead. The past year saw a flurry of retailers closing down hundreds of stores across the country. The advent of online shopping seemed to have finally put in-store retail out of business for good. But has it really? Here is what Global Resources LLC consultants had to say.

According to data compiled by the National Retail Foundation, the number of physical retail stores in the US actually grew in 2017 at a rate of 2.7 new stores per store that closed. Vend, the retail management firm, predicts that a type of shopping called “cherish” will actually keep retail in business for much longer than initially assumed.

Vend identified two different types of shopping: chore and cherish. Chore shopping, as the name suggests, is shopping for essential items that isn’t much fun. For example, every household has a list of things to buy monthly, like detergent or toilet paper. Consumers want to get chore shopping done as quickly as possible. For this reason, many are turning to online retailers like Amazon that offer quick and easy options like one-tap ordering and automatic renewals for recurring purchases. Services like same-day delivery and voice-assisted ordering make the process more convenient for customers.

The second type of shopping known as cherish occurs when customers spend time looking for a high-quality product and might even enjoy the process of browsing through goods. Items that consumers don’t necessarily need but still enjoy, such as designer clothing and stylish furniture, lead to cherish shopping. These shopping experiences are hard to replicate online. Buying clothes online is still a largely skeptical process. Consumers are not always certain about the size, color or quality of clothes they buy online. You can’t feel the fabric or compare two items of clothing when shopping online. E-stores fall short on delivering cherish shopping experiences, and this is where brick and mortar stores are performing the strongest. Local boutiques and niche stores are still going strong thanks to top-notch cherish shopping experiences.

Online shopping cannot replace every aspect of in-store shopping, at least not yet. Market observers from GR-US.com strongly recommend small local retail stores to focus on offering prized cherish shopping experiences to stay ahead. For example, personalization, app-assisted shopping, and unique products only found in-store are some suggestions that can help improve in-store sales.

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5 Indispensable Keys to Building Your Business

Retain ELITE Employees

Without a strong team, your business will suffer. With a strong team, your business will soar. It’s important for you to be able to not only attract/hire GREAT employees but also to keep them happy in their respective roles.

Courtesy of corpnet.com, consider these five critical strategies that you can exploit to retain top-notch employees:

  1. Competitive benefits and annual salary growth
  2. Work-life balance
  3. Small perks that add up to a grateful team
  4. Invest in your office environment
  5. Give respect, get loyalty

Secure Your Digital Information 

In today’s day and age, you likely have digital information and assets that need protection. Due to a plethora of online threats, web security absolutely needs to be a top priority of yours.

Grow Your Following 

Content marketing is essentially nothing without an audience to absorb the information. Global Resources LLC consultants advise you to conduct the proper research and take time to significantly build your audience in less than five years.

Turn Customer Reviews into Action 

It’s important to not only examine customer reviews, but also to appropriately act on some of them in order to improve your product or service. Furthermore, customer reviews provide great opportunities for you to spruce up some of your pages with user-generated content.

Outsource Your Accounting 

While maintaining your books is an integral part of any business, many entrepreneurs do not possess the time or experience necessary to take hold of all matters accounting. Do your best to find a reliable subcontractor/organization to whom you can outsource. Check out  Global Resources Reviews to learn more.