Business.com |
- How Leaders Can Inspire in the Workplace of the Future
- How New Tariffs Will Impact American Consumers
- How to Become a CIO or CTO
- 7 Steps for Hiring Great Employees
- Small Business Credit Card Processing: What You Need to Know
- How to Know Your Numbers and Manage Your Sales Department
- How To Become a Software Tester
- 16 Things to Know When Expanding to a Second Location
| How Leaders Can Inspire in the Workplace of the Future Posted: 05 Aug 2019 11:15 AM PDT  The business.com community is a place where business owners and professionals come together to learn from each other. Those looking for advice can solicit it from their peers, while others share their extensive expertise with those who need it. It's that peer-to-peer give-and-take that makes the community such a valuable part of business.com. The site has more than 190,000 members worldwide. The community thrives because of members' eagerness to drive conversations, whether through asking questions, answering questions or contributing articles. Each month we spotlight a community member for their contributions. This month, we are recognizing Cheryl Cran, the founder of NextMapping.com and author of seven books, including NextMapping: How Great Leaders Inspire Everyone to Create the Future of Work. Managing remote workersCran has been a frequent contributor to the business.com community. She regularly answers questions from small business owners seeking advice and writes articles as a way to share her expertise with others.  One question Cran recently weighed in on was from a community member asking what the key was to managing remote employees. Cran said it is all about communication. "Leverage video for communication using platforms like Skype and Zoom to be able to connect face to face on a regular basis," Cran wrote. "Include remote workers in team events by bringing them in virtually." She also said it is important to inspire remote workers to stay engaged. "Incentivize them to perform at peak levels ‒ i.e., they can have a Friday off once they achieve X," Cran said. "Coach consistently and check in weekly to ensure connections." Cran also shared her thoughts on another question about how best to motivate employees. "Constant communication, weekly coaching, rewarding results, real-time performance feedback, caring and inspiring communication," Cran wrote. Cran's most recent article was on how to improve employee loyalty. Cran said that the definition of loyalty, as it relates to loyalty in the workplace, is quickly shifting. "It's not that workers are less loyal today – there are more choices for workers, more technological solutions, and more workers want to work on their terms," Cran wrote. To solve loyalty challenges employers are grappling with, Cran said it is critical leaders ensure that when workers are hired that management communicates a clear pathway that shows the future for the worker. "Leaders should partner with HR and senior leadership to clarify who does what and what types of workers are needed," Cran wrote. Leaders should also re-evaluate their leadership approaches to determine what makes employees happy and more engaged at work. "Companies need to build in remote work, flex work and shared jobs to align changing worker needs and to increase loyalty," she wrote. "Finally, leadership attitudes must adapt to the reality that worker loyalty is not what it used to be. Employees have more options than ever before. They want open and trustworthy leaders who share power, share resources and help workers succeed." Bio
Q. What attracted you to the leadership development industry?A. I was a leader early in my career at the age of 23 and was highly successful quickly. I had great bosses who were great coaches and leaders, and it inspired me to seek out what it meant to be a great leader. I started the consulting firm in 1997 after a highly successful career as a leader in finance and insurance. I feel that leadership is the key to solving problems, to inspiring people and to making the world great through business. Q. What is the future of work, and why is it important for businesses to be prepared for it?A. The future of work is now ‒ it is the trends, the shifts and the impacts of both people's values, as well as technology innovation. Businesses need to be flexible and adaptable to a fast-changing reality of how people want to work and what customers want. Further, businesses must be able to anticipate change as well as lead change toward creating an optimal future. Q. What are the biggest changes leaders and teams need to make to ensure they are prepared for the workplace of the future?A. Mindset, willingness to collaborate beyond current methods, leveraging technology to better collaborate and the ability to be "change leaders" with a people-first focus. Q. How should the future of work, which includes robotics, AI, automation, etc., impact the way entrepreneurs think when starting a business?A. Entrepreneurs need to be thinking with a futurist focus ‒ what are the trends of people's values, how people are living their lives, how people want to work and live? Entrepreneurs also need to be focused on how to leverage technology tools to do more with greater efficiency so that they can work on high-value projects for their clients. Entrepreneurs need to partner with their outsourced suppliers and internal teams and be able to lead people that work remotely and keep them engaged and inspired. Q. Why did you join the business.com community?A. It offers relevant information to running a business and is a great resource for all aspects related to being a successful entrepreneur Q. What do you enjoy most about being a part of the business.com community?A. The information, the success examples and the resources Q. How do you decide what to write about when contributing an article?A. I write about issues and challenges facing businesses and then look to provide insights and solutions that move things forward for business owners. Q. What makes you want to answer other community members' questions?A. If I can help or if I have experience or a success tool, I will share it Q. What is the best professional advice you have received?A. Leverage the business beyond the "founder's" mentality. The business is only as successful as the ways you can scale to reach and help more people Q. What is the biggest professional mistake you have made, and how did you overcome it?A. Trying to do too many things on my own and resistance to delegate. I overcame it with a coach who helped me see that I could get more done and I could, at the same time, grow my people, which gave me incentive to get better at sharing the workload and developing my team to deliver the quality of work I wanted. Join the business.com communityAt business.com, we understand the stress of running a business. You are so bombarded with advice on the importance of marketing, improving your website or training employees that you can barely focus on day-to-day operations. Our community was created to cut through the clutter of information and be a place for business professionals to connect and share advice to overcome business challenges. To join our community (which is free), click here. As a business.com community member, you'll have access to:
If you are already a community member and want to be considered for our Member of the Month feature, send an email to editor@business.com. We'd love to share your business story. |
| How New Tariffs Will Impact American Consumers Posted: 05 Aug 2019 10:24 AM PDT 
Starting Sept. 1, a 10% tariff will be imposed on the remaining $300 billion in Chinese imports coming into the U.S. despite objections from President Trump's economic advisers. Such moves have a direct impact on American consumers and small businesses. According to the results of a newly released survey, many shoppers are already planning to switch up their spending habits. Conducted by the shopping rewards app Shopkick between June 28 and June 30, a survey of 30,799 users revealed that 60% said they planned to "adjust the retailers at which they shop" if the tariffs stick. Researchers also found that nearly 40% of that group said they've already noticed increased costs as a result of the Trump administration's trade policies. This new batch of tariffs is expected to take place just months after Trump and Chinese President Xi Jinping brokered a trade war "truce" during the G-20 summit in Japan. Prior to that breakthrough, both countries had imposed tariffs on $250B of imported goods. According to the survey, 38% of shoppers anticipate seeing household costs increase by as much as $500, while 30% expect a spike of more than $1,000 as a result of the ongoing trade war. As a result, businesses of all sizes should gear up for slower sales. Trade policies will hamper shoppers.Figures like $250 billion and $300 billion are hard to quantify, but consumers understand that a 10% and 25% tariff on imported goods will drive up costs on many items – which means that American shoppers can expect to see their buying power squeezed. Researchers said they found that 44% of respondents are planning to curtail their shopping habits. Furthermore, 29% said they were stocking up on items before the next round of tariffs take effect. Despite the tariffs' intended effect of driving consumers to purchase more American-made goods, researchers found that only 25% are planning to make the switch. Tariffs prompt a generational reaction.Given the amount of coverage the proposed tariffs have received in recent months, it would be easy to imagine that most people know they're happening – even if they don't understand what they are. Through Shopkick's survey, researchers found that awareness of the tariffs and how people plan to react to them varied by generation. According to the survey, only 34% of Gen Z members said were aware of existing and proposed tariffs, compared to 74% of baby boomer respondents. As for how people will react once the Trump administration's latest tariffs take effect, 50% of millennials said they were getting ready to dial back their spending while 38% of boomers said the same. Rather than cut back, a majority of boomers (62%) said they would "seek alternative options to cut costs." Looking forward, 40% of millennials told researchers that they expected the tariffs to raise their household costs by up to $500 annually, while 31% of Gen Zers anticipated the same amount of impact. |
| Posted: 05 Aug 2019 10:05 AM PDT  Many IT professionals listen to speeches delivered by CIOs and CTOs and think, "I'd make a great CIO or CTO," or "I am clearly more knowledgeable and capable than that person." This is a fun daydream, but it also raises this interesting question: What does it take to become an effective CIO or CTO? Do you have the right C-level stuff? If not, do you know how to hone your skills and develop your expertise so that you can, one day, be a chief information officer (CIO) or chief technology officer (CTO)? Here are some thoughts and ideas to ponder as you prepare to walk that walk and talk that talk. What is a CIO and CTO?CIOs are typically responsible for leading an organization's IT staff and related assets, projects, and personnel. That position may report directly to the CEO or another C-level executive, such as the chief operating officer or the chief financial officer. CTOs typically own the overarching technology strategy for a company and how that strategy meshes with and supports that company's business requirements and objectives. A CTO may also report directly to the CEO or another C-level executive. Of course, there are many different types of CIOs and CTOs. Though there is no single definition of what constitutes a great CIO or CTO, we can identify some common traits and skills that are shared by the best of these many breeds of humankind. Leadership and team-buildingThere are managers, and there are leaders. Managers tell people what to do and how to do it, while leaders seduce, cajole and, well, lead an IT organization to achieve the goals defined by executive management. It's likely that you've worked with IT managers and IT leaders, and there are advantages to each type of management style and capability. Managers are usually tightly connected to a traditional IT hierarchy and organizational processes. Many managers work their way up through the ranks and have earned their managerial roles through hard work, relevant experience, and technical competency. IT leaders may also come up through the ranks, or they may earn a leadership role through force of personality, communication skills, political acumen, or industry knowledge. It's not unusual for CIOs and CTOs to be recruited from outside a company, usually because they possess outstanding management and leadership skills. The Holy Grail for IT executives is someone who is both a good manager and a motivating leader. That is, someone who can comprehend an IT project plan and budget while also effectively communicating big-picture goals and priorities for an IT organization. This requires a heady mix of both hard and soft skills. Technical and industry knowledgeThe typical job requirements for a CIO or a CTO include technical, financial and organizational experience. Efforts over the last 10 years to more closely link IT to the business side of a company adds in-depth business skills and knowledge to the CIO and CTO job requirements mix. Gone are the days when a CIO or CTO could ignore the business and deliver IT on IT's schedule. CIOs and CTOs who don't fully support an organization's business goals could find themselves looking for work elsewhere, such is the requirement for integrating business needs and requirements into IT planning and operations. Following high-tech industry websites and influential CIO/CTO blogs is a great first step to understanding, and eventually attaining, this exalted role. Learn the CIO/CTO lingo and see for yourself what working CIOs and CTOs are talking about and why they care about such things. For the technical foundation, a CIO or CTO needs to be successful. Avail yourself of advanced technical training and IT project management training at every opportunity. If your company offers tuition reimbursement or a technical training budget, you should advance your technical skills and knowledge through those vehicles. And don't forget to learn all you can about how the business side operates within your company or industry sector. If your technical chops and your business chops are both well-developed, you put yourself in the best possible position to eventually become a CIO or CTO. CIO/CTO education and certificationMany companies prefer a CIO or CTO with an advanced degree, usually an MBA, considering the complexity of IT budgets, governance and processes. That said, we've met outstanding CIOs and CTOs with no more formal education than a high school diploma or a bachelor's degree. We've also met CIOs and CTOs with doctorates in unrelated fields. We'd rather work for a non-degreed CIO or CTO who makes well-informed decisions and can lead the IT staff into battle than for a CIO with a Ph.D. who lacks knowledge about the culture and internal workings of IT and the business it supports. Beyond college or university degrees a CIO or CTO may or may not have, several key areas in IT suggest themselves as worthy of pursuit for aspiring C-level executives who wish to remain active and functional in that field. Governance and IT/enterprise architecture are incredibly relevant, as are project management, budgeting, and leadership skills. Ambition and driveBeing a CIO or CTO is a difficult job that requires dedication and persistence. Most CIOs we know are basically on call 24/7/365 should any IT-related issues come up, especially if those issues impact the ability of the company to perform day-to-day business operations. That level of personal sacrifice means it's not the right job for everyone. It usually takes years of hard work to make your way into the executive ranks. The timeline is often shorter at smaller companies, so working as a CIO or CTO in a smaller IT shop can be a great way to get your foot in the C-level door and gain valuable experience that can be a steppingstone to a similar role at progressively larger companies. For an interesting look at how CTOs of several large corporations reached their lofty positions, visit The Path to Tech CTO page. This interactive content, by Agil8, lets you hover over the steps for each CTO to see his or her career moves, the length of time in each job, and how long it took each of them to make the grade. Communication skillsWe've saved the most important CIO and CTO skill for last: the ability to inspire and lead your IT troops through excellent communication skills. If you do not have experience talking in front of large groups, spend time at a Toastmasters club gaining the confidence to communicate with individuals, teams and organizations. All of the CIO/CTO skills we mention in this article are important, but if you can't communicate clearly and concisely, with passion, you will struggle to be the people leader most companies look for when filling a CIO or CTO position. CIOs and CTOs must also be able to communicate clearly and concisely through the written word. If your writing skills need honing, consider taking a business writing class to learn the specialized way that IT communicates. Learning terms and acronyms specific to your company or industry is also an effective way to gain a common vocabulary that will serve you well in IT. Is this for you?Pursuing a CIO or CTO position is not a decision to be made lightly. It takes years of hard work and maybe even a little good luck for you to achieve your C-level goal. If your company has an IT mentoring program, that is one excellent way to gain relevant knowledge and skills while also identifying yourself to executive management as someone who has the will and stamina to climb the IT leadership ladder. Make the decision with your eyes wide open about the challenges ahead, then never take no for an answer. Remain focused and committed to your goal, and good things will surely come your way – if not sooner, then perhaps later! Ed and Earl met in the late 1980s when Ed hired Earl as a trainer at an Austin-area networking company that's now part of HP. The two of them have written numerous books together on NetWare, Windows Server and other topics. Earl is also a regular writer for the computer trade press with many e-books, white papers and articles to his credit. |
| 7 Steps for Hiring Great Employees Posted: 05 Aug 2019 07:00 AM PDT  Recruiting qualified employees can be challenging for small businesses – especially if you try to compete with larger companies who can pay more and offer better benefits. Nevertheless, these seven steps can help you optimize your recruitment process and ensure you find great employees that are just right for your team. 1. Know when you are ready to hireBefore you dive into the recruitment process, decide if you're prepared to take on a new staff member. You may be ready to hire more help if the following statements are true:
If you already know what the position is that you're hiring for, you'll be able to write a great job posting that attracts the types of candidates you want. Waiting until you are prepared to compensate a new hire will help ensure you don't have to lay them off because you can't afford their salary or don't need them in the long term. Letting go of employees shortly after hiring them can severely injure your reputation as an employer, making it more difficult to recruit great workers in the future. 2. Determine salary and benefitsBefore you write your job announcement, consider whether you're willing and able to offer, both, in terms of salary and benefits. Candidates will almost always ask about these during the interview process, so be prepared and know what you can afford. To get a good idea of what applicants will expect, use a website like PayScale to find out the average market rate for the position. Remember, if your salary offer is too low, you may attract people who don't have the appropriate experience or qualifications. Of course, job seekers will most likely be looking at more than just salary. They will also consider your benefits package as a part of their overall compensation. Things like health insurance, retirement plans and paid time off can be valuable to your future recruits. Larger companies may have an advantage because they can afford to offer better benefits, so it's up to you to be creative when you're considering what benefits to provide. As a small business, you can choose work perks that appeal to an individual candidate and will help them achieve a healthier work-life balance. These can include things like flexible schedules, floating holidays, or the ability to work from home occasionally. In the end, create the best salary and benefits package your small business can afford and don't try to compete with the larger companies in your area. 3. Write a compelling job announcementNow it's finally time to sit down and write your job announcement. It may be the first impression job seekers have of your company. So, make sure it's accurate and professional while still showcasing your business's personality. At the very least, your job posting should include basic information about your company, the position's responsibilities, the ideal candidate's qualifications and how to apply for the job. If you have more space, consider discussing your company's culture, values and mission statement. Job seekers don't just apply for specific positions; they also consider whether they want to work for the company. Sharing your culture can attract people who align with your values and are excited to work for you. They'll then be more engaged and stay with your company longer. Share your culture through the way you write the announcement. If your company is laid-back and casual, write the post like you're having a conversation with the applicant. If you pretend that you're something you're not, you're likely to attract people who won't excel in your company. You may even share examples of how your employees live out your culture daily. For example, if you value relationships, talk about how you try a new activity as a team once a month. Explain why someone would want to work for your company. Share your reputation as a great employer by asking members of your existing team to tell you why they love working for your business. Then, describe the benefits and perks you can offer. You might include things like:
You might also include benefits of working for a small business, like the ability to wear many hats, which allows your team to learn new skills. Not everyone is suited to work for a small business, so don't try to hide the fact that you are one. Include details about the position. Although it's crucial to attract people who want to work for your company, you still have to give information about the open job. List the job's primary responsibilities and consider discussing what the employee would do during a typical day. You should also describe your ideal candidate. Mention the preferred skills, experience and qualifications. But remember, you can always train skills; you can't teach attitude. To that end, you might just describe the attitude and personality traits that would make someone successful in this position. For example, if you're hiring a new daycare teacher, you might want someone with a lot of energy and patience. If you're hiring a salesperson, however, you're likely looking for someone with initiative who's willing to pound the pavement looking for new opportunities. Tell potential candidates how to apply. Do they need to fill out an application or email you a resume? Let them know if you would like to see references. If you're asking for a cover letter, give examples of what to include so you don't end up with a reiteration of their resume. For instance, ask them to describe a time they used a specific skill in a previous job, or how they would handle a particular situation. 4. Promote the jobOnce you're happy with your job announcement, it's time to spread the word that you're hiring. As a small business owner, you have several affordable options:
5. Review applicationsAfter you've posted your job ad, you'll start to receive applications and resumés. It can be tempting to schedule interviews with every applicant. As a busy small business owner, you don't have time for that. Instead, split the applications into three piles:
You can further narrow down the list by conducting phone interviews before committing to an in-person interview. Phone interviews will give you a chance to learn more about each person to decide if they would be suitable for your company. 6. Interview applicantsOnce you've narrowed down your list of candidates, schedule in-person interviews. Ask each candidate the same questions to ensure you're treating them all equally. Include follow-up questions to get each person to open up and share more with you. For example, if they tell you what their biggest weakness is, follow up by asking them how they overcome that weakness. Be careful, however, not to ask any questions that could reveal information that might lead to hiring bias. Avoid questions about:
If anyone reveals this information voluntarily, don't write it down or pursue it any further. Leave time at the end of each interview for the candidate to ask you questions. During the conversation, you're trying to determine if the candidate is right for the job. But, they're also trying to decide if you're the right company for them. 7. Review and contact candidatesAfter the interviews, check references and verify employment histories of your top choices. When you're calling their previous employers, consider trying to speak with past co-workers, subordinates and bosses. That way, you'll be to get a full view of the person's work ethic and ability. Once you know who you want to join your team, offer them the job quickly, so you don't lose them to another company. Start with a verbal offer so you can share how excited you are for them to join you and can answer any questions. Then, follow up with a written offer to avoid misunderstandings. If you found someone who is an excellent fit for your company but may not be right for the position, follow up with them and keep the lines of communication open. Make sure they had a pleasant experience with you and encourage them to apply for future positions. |
| Small Business Credit Card Processing: What You Need to Know Posted: 05 Aug 2019 06:45 AM PDT  As a small business owner, you have a lot of decisions to make, including whether or not you want to accept credit and debit card payments. If you do, you'll need to work with a credit card processing company. Finding the right card processor for your small business can be daunting, but here are three questions to ask potential partners to make your decision easier:
Should your small business accept credit cards?If you run a small business, it's almost impossible not to accept credit cards, but the decision is ultimately up to you. The number of people who carry cash on them daily is rapidly shrinking. Phillip Parker, founder of CardPaymentOptions.com, said, "People prefer to pay with cards, and fewer people are carrying sufficient cash for all of their purchases." If you don't accept credit and debit card payments, you risk losing out on a large percentage of sales. Editor's note: Looking for a credit card processor for your business? If you're looking for information to help you choose the one that's right for you, use the questionnaire below to have Business.com, provide you with information from a variety of vendors for free:
According to the 2017 Federal Reserve Payments Study, total credit card payments increased from 103.5 billion in 2015 to 111.1 billion in 2016 with 22% of those credit card payments being remote. The number of mobile wallet users increased, too. The number of Apple Pay users jumped from 15 million in 2015 to 86 million in 2017. Accepting digital payment methods – including contactless card payment – is just as essential as accepting credit and debit cards. More small businesses and merchants have implemented the near-field communication (NFC) technology required for these types of payments. Digital wallets such as Venmo and PayPal are fast becoming customers' preferred payment option. Because this payment process connects directly with a customer's banking information to send and receive payments, it's an ideal payment option for e-commerce businesses. With the low cost of processing these payments (much lower than processing credit and debit card payments) and the ease of integration into most websites and payment gateways, it's a great mobile payment option to offer. How much does it cost to work with a credit card processing company?There are costs involved with using a credit card processing company, including:
The amount of money you'll be charged to accept credit card payments depends on a few factors, but on the whole, credit card processing fees are on the rise. Visa and Mastercard increased their card processing fees in April of this year. Other factors that influence the fees you pay include the transaction amount, how the payment was processed, and, ultimately, the credit card processor's pricing model. Some processing companies charge a flat rate plus a percentage of the sale, while others only charge a percentage of the sale. If your small business sells big-ticket items, being charged a flat-rate fee and a percentage of the sale might be more beneficial than if you only sell lower-priced items, in which case, forking over a percentage of the sale to the processor might be better for your business in the long run. When you're researching card payment processing options, ask for a sample bill to give you an idea of how much you'll spending monthly on fees for their service. In addition to the above-mentioned fees, consider whether or not it's more cost-effective for you to rent or purchase the necessary processing equipment. Some processors provide the equipment for free. Others may charge you a monthly rental fee or an upfront fee for using their equipment. Is there a difference between processing in-person credit card transactions and mobile credit card transactions?The type of business you run (brick and mortar, e-commerce) dictates the type of payments you process. Ideally, you want a credit card processor that accepts all major credit and debit cards; prepaid and gift cards; and digital wallet payment methods, including Apple Pay, Samsung Pay, and Google Pay. If you have a physical store, your processing system should allow customers to insert and swipe cards or tap their smartphone to complete the transaction. If you run an ecommerce business, your payment processing solution should work on both mobile and desktop devices. For B2B companies, the most common form of payment accepted, according to the Federal Reserve Payment Study, is ACH electronic bank transfers. Which credit card processor is the cheapest for small business?Finding the cheapest credit card processor possible might not wind up being the most cost-effective option for your small business. If your small business processes less than $2,500 per month, payment facilitators – or mobile credit card processors – like PayPal, Square or Stripe are the best options for you. While payment facilitators charge a higher percentage compared to other rates, you'll save money in the long run because there aren't any other fees, including setup fees and annual PCI compliance fees, associated with using a payment facilitator. [Are you looking for the right credit card processor for your business? Check out our reviews and best picks.] If your small business processes more than $3,000 per month or has large sales totals, you'll want to work with an ISO/MSP – independent sales organizations (ISO) and merchant service providers (MSP) processing companies – such as Helcim, Flagship Merchant Services, Fattmerchant or Payline. These companies can set up a merchant account for your business, and although they charge additional fees that payment facilitators don't, you'll save money because of the lower rate they charge for processing transactions at a higher volume. If your small business processes a low volume of credit card payments each month, look for a processor that won't charge you a monthly minimum fee, which is the minimum dollar amount of credit card processing fees you must meet each month. If you don't hit the minimum requirements, you'll have to pay the difference. For more information about accepting credit card payments and finding the right credit card processor for your small business, check out our guide for accepting credit card payments and our comprehensive review of credit card processors. |
| How to Know Your Numbers and Manage Your Sales Department Posted: 05 Aug 2019 06:00 AM PDT  Unfortunately, this is a problem for many entrepreneurs. They fail to see the bottleneck in their company, and that is because they do not know the numbers. Gathering up the data, in the beginning, will be challenging; however, once you're in reality with where you are - you can make the necessary decisions to scale. Knowing my way around business accounts did not come naturally, but I understood its importance, and I was serious about growing my business. So I invested some of my time and effort to learn the basics of keeping accounts for my business. In the end, I never had to do all the accounting since the business outgrew my capacity to do so. However, due to the knowledge, I gained while tracking my business's numbers, I am still able to review my records and tell which direction my business is taking. Here are six essential points that will help you keep track of the numbers in your business. Get clear on where your bottleneck isWhen I looked at my client's numbers to see what his cost per person was, I was able to quickly determine where the money was going and why he had cash flow issues. Each person within the company was expected to sell $3,100 per week, but they were only selling about $2,500. That is a loss of $600 per person. He had 30 people, which comes out to $18,000 per week. If you multiply that out, it equates to $864,000 a year. That is a lot to lose. To think, it all started with that small leak of $600. When was the last time you looked hard at your sales numbers? One way I tell my clients to manage sales by the numbers is to use a sales member analysis tool. I have a particular worksheet for this that will appear in my upcoming book Bootstrap to Bigtime. This strategy tells you what each salesperson in your business needs to make for you to reach your numbers. Know which numbers to trackTo understand which numbers to track in your business, you need first to understand what numbers matter. All numbers matter, but there are those that top the priority list. These include cash flow, profit, business wealth and value. To keep track of these numbers, you need a couple of resources and some little skills you can learn in a day. You will need cash flow reports to know how much money is coming in and going out regularly, income statements to function as your establishment's financial scorecard, and balance sheets to let you know how much you own and owe, as well as your net worth. You need to know what expenses you have each month and where your money is going too. Not only will this help you identify where you're spending where you shouldn't be, but it will also show you how much you need to generate each month to break even. This knowledge should be basic, but to many people, it is not. Do you allocate money to invest in growth every month? It is important to allocate targets for each member of your sales team. It is a great way to know who is producing how much, and what they need to reach their goals. This formula holds you accountable to a certain number. If your sales team is not meeting the threshold, then you share that with them to make things work for your business. Get all the help you canWhen I was starting my entrepreneurial journey, there was so much fire and determination in my heart that I almost thought I could do it all on my own. However, I had learned something about life, and I was going to use it to get where I wanted in the business. I had learned from all the successful people I knew that asking for help is not a show of weakness. When you ask for professional help, even from your head of sales, you acknowledge that there is still room for additional value. There will come a time when your business will be so huge that you won't be able to keep track of the numbers on your own. That's why it is wise to invest in advisors, accountants, and/or auditors. Professional financial consultants can help your business grow by giving you detailed information on all the financial pitfalls in your business and how to best deal with them. Know your datesIf you are ever going to be successful in keeping track of the numbers in your business, you have to get it right with the dates as well. Proper planning always involves the setting and meeting of deadlines. To scale my business, I have had to target and achieve my financial goals by setting and meeting timelines. I always know when to pay my dues. I also always keep a record of all past important dates in terms of my purchases and sales. The reason is not that I still want to remember when I made the most money or the least; it is just that it makes it easier for me to refer back. You will need these records when you hire a financial consultant. Take pride in your numbersBe proud of how much you are making in your business. Don't get comfortable, but appreciate where you have come from, where you are and where you are headed. It does not matter at what stage your business is on in the development process. Most businesses that fail to keep track of their finances during the initial developmental phase are likely to have a problem tracking progress. At some point in my business, I was making just enough money to keep the company on its feet. A friend, who also doubled up as my adviser, always reminded me to keep records even if it didn't make sense. She assured me that I would thank her later for the advice. Honestly speaking, I did. Every time I went back to making entries on my records, I would study the patterns, consult with my advisor and use that knowledge to plan. I started seeing a gradual improvement in the way the finances in my business were being handled. On another note, when you learn to appreciate the little things in your business, it gives you the motivation to go for more and prepares you to recognize and manage the big bucks in the future. In closing, when you create these systems, please share them with your team. Make sure they're clear that if they're not meeting targets, you need to work on a plan that helps improve your sales process. You can manage results a lot easier than you can people's behavior. So, pull your numbers, determine what each person should make and what the goal is so you can have profit within your business. After you do that, hold your salespeople accountable through a system that's replicable and solve bottlenecks in your business by analyzing the data. |
| How To Become a Software Tester Posted: 05 Aug 2019 05:30 AM PDT  Software testers play a critical role in application development. They are quality assurance experts who put applications through the wringer to root out bugs, poor performance and funky interface issues. To do this, they run all kinds of tests – stress, performance, functional, scalability, user acceptance – at different stages of the software life cycle. Because software testing is so important to the quality and usability of the final product, testers are typically brought in at the planning and design stage, and often remain involved throughout post-release support. Most testers work on teams that develop vendor software. Today, a lot of software is pushed through DevOps (development + operations) teams, where development, testing, and delivery are on a continuous loop using the Agile, Lean, or Scrum frameworks. The software tester is an unsung hero for most development projects. They save end users from working with highly buggy software or applications that just don't work well, greatly reducing tech support calls from frustrated customers. They also make the development team and the software vendor look good in the eyes of customers by ensuring that there are no critical bugs that prevent the software from operating as designed and advertised. Essential education, background and skills for testersMany employers look for software tester candidates with a bachelor's degree in computer science, math or engineering, although it's not always required. If you've got a lot of experience, a stable work history and solid references or letters of recommendation, it's possible to land a job without a college degree. An intermediate-level position typically requires three to six years of direct experience in software testing, or some combination of education and experience. Regardless of how you prepare for a software testing career, here are the skills you should have or plan to develop:
Some positions require programming skills and an understanding of databases. You don't necessarily need years of programming experience to be a tester, but it doesn't hurt. Many government or military jobs in national security and intelligence, as well as some federal contractors, require a TS/SCI clearance. TS/SCI is short for Top Secret/Sensitive Compartmented Information. It's sometimes referred to as a "TS/SCI poly clearance" because a polygraph is usually part of the process. If you already have a TS/SCI clearance, that gives you a significant competitive advantage in the software tester job market. Must-have certificationsSoftware testers should consider getting one or more certifications to prove their mettle and to get the attention of hiring managers. Most software tester certifications are vendor-neutral, and recognize knowledge and skills applicable across all facets of software testing. Here are the two most popular software tester certifications:
Vendor-specific or platform-specific software development certifications are plentiful, but it's harder to find vendor-specific credentials that focus on testing. However, if you have experience with a specific software testing platform and want to work on projects built on that platform, find out if the vendor has a certification program and whether any of its developer certifications include a testing component. Software tester training and resourcesCandidates interested in software tester training can take advantage of some free starter courses available online. Microsoft Virtual Academy (MVA) offers several relevant courses, such as the six modules in the Software Testing Fundamentals suite and Live Unit Testing in Visual Studio 2017. And the ASTQB website has a New To Software Testing page that includes its glossary of software testing terms in PDF and online searchable formats as well as sample ISTQB exam questions. Interested candidates should also check out the Association for Software Testing (AST) website. This site is full of resources, including a link to the AST YouTube channel, which features webinars and keynote presentations from the group's annual conference. The International Institute for Software Testing (IIST) lets anyone sign up for interactive and on-demand webinars and live seminars in select U.S. cities, when available. If you're willing to pay for training, head back to the AST site to read about the four-week Black Box Software Testing course and then follow the link to see other AST courses on test design, bug advocacy, and so on. Udemy's QA Software Testing Training Course has 27 hours of on-demand videos. At $100, it's a bargain and can cost as little as $12 during Udemy promotional campaigns. Lynda.com, a well-known subscription-based training/learning service, also offers testing courses as does Pluralsight. You'll find plenty of other software testing courses and boot camps by doing a quick search on the web. Surveying software-tester opportunitiesPayScale says the average salary of a software tester in the U.S. is almost $56,000, but it can climb much higher depending on the company, city and your qualifications. Like any other career, getting started usually means spending time on job boards like Monster, Indeed, Dice and LinkedIn Jobs. Consider posting your resume on each site, and be sure to set up alerts to be notified of new software testing and quality assurance job listings so you can apply right away. Once your resume is online, you'll probably be contacted by recruiters with inside opportunities at companies that don't necessarily advertise publicly. And if you want to work for a specific company, cruise its online job board regularly and reach out to HR to make a contact. Take advantage of free resources like LinkedIn software tester groups, Reddit, and other forums and online communities. They can be great sources of information about good/bad employers, which tools you should learn and leads on jobs. |
| 16 Things to Know When Expanding to a Second Location Posted: 05 Aug 2019 05:00 AM PDT  To help you with all of these questions, and others, we asked members of the Young Entrepreneur Council (YEC) to share what they think you should keep in mind when considering expanding to a second location. Here is what they said: 1. Know that it will become another separate business"Oftentimes people assume that because they have had success with one location, they can just replicate everything they did at store one and have success at store two. I have learned that each location, even though it's the same company with the same policies, will become another separate business. You will have to tweak your offerings to accommodate that location and its clientele. Be open." - Lisa Song Sutton, Sin City Cupcakes 2. Make sure there's enough demand"Before expanding to a second location do your due diligence to confirm there is enough demand in that area for a new location. You may be very busy at your current location, but that doesn't necessarily mean the expansion office will be as well. Research the new market thoroughly before making the financial commitment to expand." - Matthew Podolsky, Florida Law Advisers, P.A. 3. Consider the costs and benefits"It's crucial to conduct a cost-benefit analysis of an expansion to a secondary location. Ask yourself what you have to gain and what you have to lose in the near future, mid-term and also long-term. If you can afford it, try to get third-party perspectives, so you don't risk having your own biases influence the decision." - Frederik Bussler, bitgrit Inc. 4. Establish consistent communication"One of the most important things is consistency — not only with your brand but with the attention given to your employees. Ensure that across the board communication and direction are being established to keep everyone on track with set goals. Weekly mass communication from leadership is an easy way to make sure everyone is receiving the same messaging to protect brand consistency." - Elisabeth Swardstrom, PixelFish 5. Research neighborhoods"Always make sure you research the neighborhood you plan on using for your second location. You want to make sure you're positioning your second store around your target audience. It's also a good idea to check out the crime rate in the area. It's important that your business is in a safe neighborhood and close to the people who will benefit the most from your product or service." - Syed Balkhi, WPBeginner 6. Stay on top of your budget"When you're opening a second location, you have to be mindful of your budget. It's easy to lose track of what you're spending when you're using tens of thousands of dollars across various contractors and businesses to build your business. A best practice is to check your weekly budget and compare it to your goals to make sure you don't get in over your head." - David Henzel, LTVPlus 7. Have all processes documented"Since you can't be in two places at once, you need to be sure to document your processes and systems. Creating a company manual will help the manager of your second location run your business like you would and make sure everything goes smoothly when you're not around. Plus, it will also be helpful to new hires down the line as well." - Stephanie Wells, Formidable Forms 8. Evaluate how your business is doing"If the business you have right now isn't as strong or valuable as it should be, then it probably isn't wise to expand until it is. It's much better to have one business that's thriving than two that are just doing OK. Look over the numbers to determine if your current brand is strong and profitable enough to perform well in a second location." - Chris Christoff, MonsterInsights 9. Make sure you will have enough cash flow"More locations can mean more headaches and overhead, which can translate into less profit, not more. Now that I've seen this cycle firsthand, I would only expand to more locations if I could support that new location with the cash flow of my old location, without needing any additional revenue. Absolutely maximize the footprint you have before expanding and you'll avoid the dreaded profit dip." - Peter Kozodoy, GEM Advertising 10. Avoid being too close"When considering expanding your business to a second location, it is crucial to remember the importance of avoiding cannibalization. For example, while it may be tempting to open in a geographical area close to your existing location for operational reasons, doing so could hurt your original business, diverting customers of the first location to the second." - Adam Mendler, The Veloz Group 11. Make sure your team is ready and wants this"Is your team invested in expanding the business to the second location and getting the company to the next level? An expansion is much easier when your team shares and supports the move. While making sure all the legal and logistical elements are in place is important, your company will expand more organically and smoothly if all the "human" elements are in place as well." - Shu Saito, Fact Retriever 12. Have an SEO plan"Ask yourself whether your SEO and marketing are ready to manage a new location. Since your first location was likely in a niche or built-in community, the growth was easier. However, with a new location, you will have to build this network from scratch. Use your current online strength to help get the new location started and make sure you understand these new demographics and geographic audience." - Jared Weitz, United Capital Source Inc. 13. Establish your company culture"Company culture has an immense impact on your day-to-day operations and when you start up a new location you will have to build it from zero. Try to understand the dynamics of your culture and what makes it work and then figure out how to create consistency between locations. You'll also want to be there physically in the early days or have a senior employee do so." - Karl Kangur, Above House 14. Consider alternate growth opportunities"If opening up an entirely new location seems a bit crazy at the moment, consider how you can expand in other ways before taking the big leap. This doesn't mean you can't open up a second physical store, but there may be other steps you can take in the meantime that aren't as scary and can better prepare you for what's to come." - Thomas Griffin, OptinMonster 15. Make sure you have time"Opening a second location is going to take a lot of work and it's also going to take a lot of your time. So, consider if your current lifestyle allows you to put in those much needed extra hours. If you've got way too much on your plate at the moment, it might be better to wait until you can give more of yourself and your time to the project. It shouldn't be a rush to open a second location." - John Turner, SeedProd LLC 16. Keep the same level of quality"People make places, so even if you have the company culture principles spelled out, the atmosphere will never be the same. However, the quality of service should be equally top-notch, and that's something that can be achieved with the right team in place. And since you won't be able to spend enough time in both locations, make sure that your location managers and you are on the same wavelength." - Solomon Thimothy, OneIMS |
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