Business Adviser No. 21

Issue 20

How to build a

PERSONAL BRAND

How to get a

BUSINESS LOAN

5

4

REASONS TO USE A

CRM

TIPS OF CLIENTS

JOHN

and how do you deal with them

HERRERA The Success of Magic Valley Co-Op in its First 80 Years

Are You a Multitasker? Maybe it’s Time to Switch to Single Tasking Network Right with These Nifty Tips Your Office Speaks a Lot About Your Personality Move with Confidence and Win the World Get To Know Your Customers – Collect the Right Data How Working Out Benefits Your Business

Our Team

Editor’s Letter

STAFF

EMPOWERING SMALL BUSINESS

Andrew Yoo Maggie Yoo Oriol Zertuche John Amour Roland Hernandez Jolene Arellano

ADVISORY BOARD MEMBERS Daniel Martinez Mody Diaz Chris Cruz Sarah Hammond Omar Guevara Rick Benevidez Bridgett McAdams Krause Chis'mere Mallard David Armstrong Mario Gutierrez John Amour Oriol Zertuche Maggie Yoo Andrew Yoo

CONTACT US In print, online, and in person, nobody connects the people, issues and ideas within valley business owners like Business Adviser.

Thank you for your continued support as we strive to establish Business Adviser Magazine as the leading resource for business owners in the Rio Grande Valley. Our vision is to create a brand that stands for businesses and provides everything local business owners need to succeed.

This magazine was founded due to an ongoing demand for a reputable, responsible source for business knowledge and advice.

The business world can be challenging, and business owners often have to make difficult decisions. Business Adviser can ease those situations by offering advice that guides you through the process.

Our team consists of experienced, knowledgeable entrepreneurs that eat, breathe, and live for business.

With a dedicated team of industry experts and a hands-on approach to answering business-related questions, Business Adviser Magazine empowers business owners and helps them stay ahead of the competition. Our mission is to inspire the entrepreneurial spirit and foster business growth by providing reliable resources for business owners. I would like to take this opportunity to personally invite you to join Business Adviser Magazine. We are sure that your business will benefit greatly from the exposure generated by this publication as you establish your brand and increase your industry authority.

Sincerely,

Andrew Yoo, CEO & President info@businessadviser.co (956) 277-1944

In This Issue

10 12 14 16 20 24 26 28 34 38 42 44

Are You a Multitasker? Maybe it's Time to Switch to Single Tasking

Feel Grateful To Your Staff - Let Them Know

5 Reasons for Using a CRM

6

HOW TO BUILD A PERSONAL BRAND

18

MOVE WITH CONFIDENCE AND WIN THE WORLD

Why Businesses Should Connect with Customers Instead of Selling to Them NOW is the Right Time to Start Your Long Term Financial Planning

How Working Out Benefits Your Business Dealing with Difficult Clients isn’t All that Difficult

Network Right with These Nifty Tips

Your Office Speaks a Lot About Your Personality Get To Know Your Customers – Collect the Right Data Is a POS System Crucial for Your Business

30

THE SUCCESS OF MAGIC VALLEY ELECTRIC CO-OP IN ITS FIRST 80 YEARS

36

OBTAINING A BUSINESS LOAN ISN’T ALL THAT DIFFICULT AFTER ALL

48

3 FACTORS THAT CAN MAKE OR BREAK YOUR CREDIBILITY

5 Steps to Maximum Productivity

INVESTMENTS

6

www.businessadvisermagazine.com

STRATEGY

If you are looking to build your personal brand, here are some expert tips that will help you go about it.

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nfortunately, competition exists everywhere and seriously limits your earning potential. In order to make money in a competitive market, you either have to sell your products at the cheapest rates or offer benefits that other companies can't offer. As you can see, it is not easy to implement either of these strategies. So how will you make money?

Building your personal brand is the answer. It is one of the cheapest and easiest ways to earn money. Everyone benefits from the personal brand building. In this age of hyper-connectivity, building your brand has become more important than ever.

WHAT IS PERSONAL BRANDING? Personal branding is all about establishing yourself as the best in your industry. When you become a brand, people will not care how much you charge. You can set your own price and no matter how much you are asking, clients will readily come to you.

Personal brands you are helping help build busiothers in your own SOME PEOPLE ness empires. way can be very have built Take, for instance, fulfilling. personal brands the case of Apple. by giving public Do you think they BUILDING speeches or would have beYOUR posting amazing come such a sucPERSONAL videos on cess story without BRAND YouTube.

Steve Jobs? Apple A brand is not without Jobs something you would have been just another can build in a day unless, of company making computers course, you are a controverand smartphones. It was Jobs' sy king or queen. It takes vision, his aura, and his mermonths or even years to build curial personality that made a personal brand that everyApple an iconic brand. one loves and respects.

Some people have built personal brands by giving public There are several benefits to speeches or posting amazing building your personal brand.

To start with, when you are a brand, you have easy access to deals. No one wants to do business with someone nobody knows. When you become a brand, people will start approaching you. They will want to work with you.

Your personal brand will also take care of your reputation. It even makes you feel significant. Just knowing that

videos on YouTube. If you don't have what it takes to be a public speaker or a YouTuber, do something else. Keep in mind that anything that you post online becomes part of your brand. So start small.

Update your social profiles.

Think about how you want to portray yourself before the world. Starting a blog is another great step. It gives you a platform to express your thoughts and showcase your talents. Present yourself as an authority in your niche.

People want answers from experts. Help them and they’ll follow you.

A brand is not something you can build in a day unless, of course, you are a controversy king or queen.

It takes months or even years to build a personal brand that everyone loves and respects.

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INVESTMENTS

ARE YOU A MULTI-TASKER? MAYBE IT’S TIME TO SWITCH TO

SINGLE TASKING

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STRATEGY

We are living in a world that puts too much emphasis on multitasking. A lot of people assume that if they are able to multitask, they are smarter. Employers also prefer people who possess an inherent ability to manage multiple things at the same time. But is multitasking more efficient than single tasking?

Actually, it isn't. Studies after studies have proved this conclusively.

ergy. Our short-term memory also benefits when we focus on just one thing at a time.

SINGLE TASKING ENHANCES OUR PRODUCTIVITY Our brain is not wired to multitask. When we focus on just one task at a time, our performance improves. In fact, studies have shown that productivity decreases by as much as 40% when we try to focus on several things at the same time.

SINGLE TASKING LEADS TO INCREASED COMMITMENT WHY WE MULTITASK

second nature. Even when we Whether we like it or not, are at home, we have a tough multitasking has become time focusing on any one acimperative in tivity. We want to most traditional do so many things workplaces. Workand we want to do MULTITASKING spaces now use a them all at once. affects the wide spectrum of Is this possible? way our brain productivity tools functions. It to get more things Multitasking hampers our done in less time. can be of several ability to focus on As a result, people different types. one thing. get used to using Doing two or several things more activities at at the same time. While the same time is a form of working on a spreadsheet or multitasking. So is performdatabase, they keep checking ing several tasks in quick suctheir phone or inbox for new cession. Some people switch notifications. The next moback and forth from one job ment, they are on their social to another. They are also network updating their stamultitasking. Contrary to tus. It is not surprising that popular belief, doing several multitasking has become our things at a time is a disadvantage. It does not increase our productivity. Here is why.

Studies have shown that productivity decreases by as much as 40% when we try to focus on several things at the same time.

MULTITASKING LEADS TO FASTER DEPLETION OF OUR ENERGY Our brain consumes more energy than other parts of the body. Multitasking requires us to constantly shift our attention from one thing to another. This results in faster depletion of our energy. Single-tasking, by contrast, conserves our en-

Single tasking requires us to focus our attention on just one task at a time. This creates a sense of commitment.

SINGLE TASKING BENEFITS OUR ATTENTION SPANS This goes without saying.

When we single task, we focus our full attention on just one thing at a time. In fact, people who make a conscious effort to single task have improved attention spans.

SINGLE TASKING ENHANCES OUR COMMUNICATION SKILLS Multitasking affects the way our brain functions. It hampers our ability to focus on one thing. In fact, the vast majority of us can't even focus on a conversation from start to finish. Our attention shifts mid-way. When we cultivate the habit of single tasking, we learn to give our full attention to the person we are talking to. This also allows us to see our thoughts with more clarity. All of these are traits that make us efficient communicators.

SINGLE TASKING HELPS OUR RELATIONSHIPS TOO In life, our relationships personal and professional - are the only things that truly matter. Multitasking can affect our relationships because we simply don't have any time for the people in our lives. Take, for instance, the case of a multitasking mother who rushes home and then brushes off her children because she is busy with work. Her inability to give her children the attention they need will cause strain in their relationships.

BOTTOM LINE Cultivate the habit of single tasking to enjoy better relationships and higher levels of productivity.

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MANAGEMENT

GRATEFUL TO YOUR STAFF FEEL

- LET THEM KNOW Your employees are the backbone of your business and we’re sure you already know that. The problem is that most people don’t express these emotions very openly. Make them feel valued by thanking them for their contributions.

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veryone wants to feel appreciated.

Your employees are no different. When you recognize their hard work, they become more engaged and loyal. Studies have shown that the vast majority of people who quit their job did so because they felt that they were not being appreciated. Meanwhile, 78 percent of businesses feel that retention of employees is important. If that is indeed so, then how can organizations overlook the contributions of their employees?

If your company wants to improve employee engage-

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ment and loyalty, you need to show your gratitude for them in meaningful ways.

Here are a few ways to express your gratitude.

SEND AN EMAIL THANKING EVERYONE

sure that you are not sending the email just for the sake of it.

Your words should be sincere.

HOLD APPRECIATION EVENTS

Host parties for your employees, their partners, and children. Actually, you can do Once a year, maybe before the this several times in a year.

Holiday season, send a ‘We They will readily appreciate give thanks’ email to every one your kind gesture when of your employees. Mention the list of invitees includes every employee in their partners and the email and in one children. Rememor two sentences ber that when your explain why they are employees spend EVERYONE WANTS to feel special. Your team long hours at the appreciated. will enjoy reading workplace, their Your employees what you wrote family members are no different. about them. Make are also being

affected. Show your appreciation for their sacrifice by hosting grand get-together parties or a company outing.

PLAN AN OUTING Once in a while, organize a short excursion for your team. You don’t necessarily have to fund an expensive foreign holiday. Even a oneday shopping outing will work. People just love getting out of their daily grind.

SEND PERSONAL NOTES Sending personal notes is another way of appreciating the contribution of your employees.

You don’t have to write a long letter. A few sentences will do.

Tell them how thankful you are for their contribution. If one of your employees is going through a difficult time, include an inspirational quote or something in your note to them.

DELIVER GIFTS TO THEIR HOMES Send gifts - flowers, food, wine, or even gift cards to your employees. Make sure that your gifts are delivered to their home.

By simply appreciating the contribution of your employees, you can build loyalty and reduce attrition. Seize every opportunity to prove that you care about each and every one of them.

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5 MANAGEMENT

REASONS FOR USING A CRM

In this age of globalization and digitalization, there are numerous ways to buy, sell, and communicate. The internet has lowered the barriers to market entry. Today, just about anyone can launch a business with little or no capital. It’s a good thing but it has intensified competition.

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cquiring customers is no longer easy. Retaining them has become even more difficult. Happy customers are sharing their stories with the world, and so are unhappy customers.

This might sound strange but now businesses and careers are rising and falling through social networks like Twitter or Yelp.

It’s the social media era and every business must invest in keeping their customers happy. If an irate customer who wasn’t particularly impressed with your product or service gives vent to their frustration on social media, it can result in a major PR disaster for your business.

Customer Relationship Management or CRM gains special importance in this

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scenario. CRM is all about analyzing and tracking your interactions with leads and customers. A CRM software program can simplify and secure your interactions with your customers and take your customer engagement efforts to another level. Here is how CRM can benefit your business.

1.

IT HELPS GROW YOUR BUSINESS BY GENERATING LEADS

Agreed, you have a team of salespeople but if you thought that they are the only persons responsible for generating leads, you are wrong. Using a good CRM software program, you can collect leads from your email or social media campaigns, your website, webinars, or trade shows. Send them to your sales representatives

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MANAGEMENT immediately so that you can convert them to buyers before they lose interest. CRM is also perfect for up-selling or cross-selling activities. Use it to identify new market opportunities and enhance your sales team’s calling efficiency. Successful companies have already shifted their attention to inbound marketing. They now post useful information on their website and optimize it for search engines to attract targeted traffic. This strategy is highly effective at converting leads from suspects to buyers. CRM complements your inbound marketing efforts in numerous ways.

2.

IT HELPS YOU TO REPLICATE BEST PRACTICES As an organization, you will definitely want to deliver consistently high-quality customer service. Using a CRM

system, you can guide your salespeople through every interaction they have with your customers.

3.

LESS

IT HELPS YOU TO ACHIEVE MORE WITH

Your people need access to the right tools to be able to juggle multiple tasks, cases, opportunities, communications, and information.

CRM makes it easy for them to manage their complex processes.

4.

IT HELPS TO MITIGATE RISKS OF STAFF TURNOVER CRM will ensure that you do not lose opportunities when a sales rep goes and another one comes. It helps an organization to make a seamless transfer of opportunities and responsibilities. It also helps protect your sensitive

information. Employees who leave your organization can download your customer list and take it with them. Using a CRM system, you can easily track these events and do an audit to protect sensitive information.

5.

IT HELPS TO PERSONALIZE YOUR CUSTOMER INTERACTIONS When competition heats up, it makes sense to tailor your products and customer engagement processes to the preferences of your customers. CRM allows you to capture relevant information about your customers and their specific behaviors. Using this information, you can develop products or services that cater to their specific needs. By personalizing every interaction you have with your customers, you can make them feel special and

It’s the social media era and every business must invest in keeping their customers happy. valued. This ability is particularly important for small and medium-sized businesses. A good CRM tool gives your customers the illusion that you understand their preferences and needs.

CONCLUSION A CRM tool increases the efficiency of your business and allows you to generate more revenue per employee.

By using CRM, you can create successful processes that can be repeated.

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STRATEGY

WHY BUSINESSES SHOULD CONNECT WITH CUSTOMERS INSTEAD OF SELLING TO THEM Developing a personal connection with customers is a critical part of running a successful business. Find out how to make it happen.

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STRATEGY

T

he internet has brought businesses and customers closer than ever. In this age of 24/7 connectivity, brands have several opportunities to gain customer attention. This, however, does not mean that selling has become easier. In fact, it’s far from it. On the bright side, selling is not always about closing. It is great to close but before you can get there, you have to take

new products and services peseveral important steps. riodically. Sales is not a oneBuilding great relationships way process. Before someone with your customers is the buys something from you, first step to closing. People you have to win their trust buy from businesses they and respect, so give value betrust. In order to build trust, fore you expect it in return. you have to address their pain points. You have to show PUT CUSTOMERS them that your communicaFIRST tions are much more than a Keep in mind that the product pitch. customer is the only factor Every sales rep should strive behind your success. So tailor to build strong connections everything to suit their needs with their customers. These and desires. If you can offer connections will eventually products that lead to new deals. meet their needs, Keep in mind that you will not have in business being EVERY SALES much difficulty in out of sight is the REP convincing them easiest way to should strive to buy. be out of mind. to build strong So strive to be connections with visible to them BE ACTIVE their customers. using all possiOF SOCIAL These connections ble means. Stay MEDIA will eventually connected with Social media is a lead to new deals. them. Businesses great place to stay first sale. that manage to connected with maintain connecyour customers. tions with their customers When it comes to social are more likely to close deals media, there are several netwith them. works and you can’t possibly It takes a great deal of time be active on all of them. So, and effort to build relationfind out where your customships. Here are the most efers are and engage with them fective ways to build relationon those platforms. ships with your customers.

Keep in mind that every time someone connects with your BE HONEST brand on social media, they When interacting with your customers, make sure that you are suggesting the best solution to their problem even if it is not your product.

Your customers will readily appreciate your honesty. Even if this might mean losing a sale, they will willingly refer you to other customers who need the exact same solution you have.

The future belongs to businesses that learn how to build long-lasting relationships with customers. are also sending that information to other people in their network. This increases your reach.

TUNE INTO SOCIAL MEDIA MENTIONS OF YOUR BUSINESS Monitor social media to find out what people are saying about your brand. Do they sound happy about your product or service? Is there room for improvement?

Participate in their conversations and make meaningful contributions.

Building relationships with your customers is now more important than ever. Customers are spoilt for choice.

The only way to convert leads into buyers is to stay in touch with them by offering solutions to their problems. Put them first.

USE BUSINESS TOOLS TO STAY CONNECTED TO YOUR LEADS Stay in constant touch with your customers. This is the easiest way to stay on top of their mind. One way of doing this is to send updates about

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INVESTMENTS

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STRATEGY

Sometimes you have to step out of your comfort zone to succeed.

Success and confidence go hand in hand. In business, as in life, you will always find yourself in situations when you are forced to get out of your comfort zone.

If you decide to stay within your comfort zone, you will seriously hinder your progress.

TAKE RISKS

L

DITCH DOUBT

ack of confidence in their skills is what hinders the progress of most people. They don’t believe in their ability to succeed. Most people don’t know that they were capable of achieving just about anything they wanted.

Do you have confidence issues? Are you always struggling to achieve your goals? Here are some tips to help you discover your true potential.

KEEP LEARNING Knowledge is power – learning will enhance your knowledge. It will help you establish yourself as an authority in your niche.

When you come across as a learned person, people will automatically approach you with their questions, so learn about your business and your industry. Participate in seminars. Read books. Surf online forums. When you are equipped with up-to-date information on your industry, you will naturally feel confident. Keep in mind that diffidence in most cases is a lack of knowledge.

HAVE A CLEAR GOAL One way of improving your confidence levels is to have clear objectives. Think about

To quote Helen Keller, life is either an adventure or nothing at all. Staying inside your comfort zone will definitely make you safe.

However, making progress requires you to be more open to fresh ideas, technologies, and environments. When you experiment with new ways of doing things by forcing yourself out of your comfort zones, you will also achieve great things.

If you have great ideas but what you want to achieve. are afraid of moving ahead, Think about where you want take things step by step. to be ten years from now.

There is a limit to what you When you have a clear goal, can achieve in a day. But if working towards it will beyou stay focused on your come easier. Overgoals, you will ly broad goals like definitely get ‘I want to earn a closer to them. lot of money’ or ‘I In most cases, it DON'T WAIT want to be famous’ is not your lack until you become a hugely successful do not really work. of funds, knowlbusinessperson Instead, have more edge, or support to congratulate specific goals. So, that hinders your yourself. Celebrate for example, a progress. Rather, even small specific goal like ‘I it is your fears. achievements like want to gain 1000 If you become making that subscribers in a paralyzed at the first sale. month’ is much thought of movmore helpful than ing forward, you a broad goal like ‘I will not reach want to gain a lot of subscribanywhere. Have faith in your ers’. When you have meaability. Convince yourself that surable goals, you can easily you can achieve anything you track your progress. Also, want. Don’t pay attention to clear goals will help you gain your negative thoughts. If more confidence. you ditch your doubts, you will be amazed at what you BECOME OPTIMISTIC are able to achieve.

Pessimism kills your motivation and drags you down.

CELEBRATE Make sure you surround EVERY SMALL yourself with optimistic ACHIEVEMENT people. When you are Don’t wait until you become surrounded with positive a hugely successful busienergy, you will automatinessperson to congratulate cally become more confident yourself. Celebrate even small and productive. Interact with achievements like making people who can influence that first sale. And when you you positively. They will be diffuse a problem that could able to give that little push have spiraled out of control, when you feel sluggish. They give yourself a gentle pat on will also ensure that you stay the back. You may be still on track. a long way away from that

final goal, but these small victories are also worth celebrating. They remind you how efficient you are.

Others may help you on your path to success and self-confidence. However, there is a limit to what they can do for you. Keep in mind that your success depends on you. If you have the determination to succeed, nothing in this world can stop you from achieving it. The steps given above will definitely guide you on your journey to success.

DO YOU HAVE CONFIDENCE ISSUES? ARE YOU ALWAYS STRUGGLING TO ACHIEVE YOUR GOALS?

HERE ARE SOME TIPS TO HELP YOU DISCOVER YOUR TRUE POTENTIAL

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INVESTMENTS

Personal financial planning is a topic we are all interested in. Yet, many people find the idea of managing their money overwhelming. They don’t know where to start. Whether you are a savvy investor or a newbie, this guide to personal financial planning will help you.

START BY CREATING A FINANCIAL PLAN Before you can manage your finances, you need a plan.

Your financial plan should include your goals and timelines for achieving them.

Your goals could be anything. It could be buying a home, funding your kids’ education, or creating a nest egg for your retirement. Actually, most people have several goals. Write out your financial plan. It will provide you direction and act as a benchmark against which you can measure your progress. Remember that your financial circumstances and goals may change from time to time. So review your financial plan periodically and make changes if necessary.

NOW

IS THE RIGHT TIME TO

ORGANIZE YOUR FINANCIAL DATA Managing your finances becomes easier when you know where your money is coming from. So, collect all financial records like bank statements, income tax returns, credit card and mortgage statements, insurance policies, investment accounts, and estate planning documents etc.

When you have all of these records in one place, you can easily find out where you are today and set the stage for your future priorities.

While organizing your financial records, you should also consider creating an inventory of your personal possessions.

These documents will serve as a record for the insurance company, in case you lose your possessions in a natural disaster. After organizing your financial records, estimate your net worth by subtracting what you owe from what you own.

You will have positive net worth if the value of your assets exceeds the value of

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your liabilities. Your net worth clearly reflects your financial health. It should be the basis of your financial decisions.

If it is positive, it is a sign that you are already managing your finances wisely.

If your goal is to get rich, you have to increase your net worth. At the end of the year, calculate your net worth again. Has it increased from what it was last year?

PREPARE A SPENDING PLAN You should know where your resources go. Your income includes your salary, bonus, other perks, interest income etc. It is easy to calculate your inflow.

It takes some effort to document your outflows. If savings are your biggest outflow, you are on the right path to

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INVESTMENTS

BEFORE YOU CAN MANAGE YOUR FINANCES, YOU NEED A PLAN.

OUR FINANCIAL PLAN SHOULD INCLUDE YOUR GOALS AND TIMELINES FOR ACHIEVING THEM.

financial security. If you are spending your money wisely, your inflow and your outflow will be equal.

No matter whether you have a positive or a negative net worth, your goal must be having a balanced spending plan.

Your spending plan should highlight your wasted spending and identify areas where you want your money to go.

START

PREPARE AN EMERGENCY FUND What will you do if you lose your job? How will you cope? An emergency fund is meant to cover your basic living expenses for 3 to 6 months in the case of an emergency.

Depending upon the nature of your job or the level of difficulty involved in finding another job, you may want to add more money to your emergency fund.

REDUCE YOUR CONSUMER DEBTS Debt drags you down. In spite of your best efforts, you won’t achieve your financial goals if you have too much debt. So if your student loans, personal loans, credit card loans, or auto loans consume 20% or more of your monthly earnings, reducing debt has to be a priority for you.

DEBT DRAGS YOU DOWN. In spite of your best efforts, you won't achieve your financial goals if you have too much debt.first sale.

YOUR LONG TERM FINANCIAL PLANNING

DRAFT IMPORTANT ESTATE-PLANNING DOCUMENTS. These include a will, a durable power of attorney, a living will, and a healthcare durable power of attorney.

The power of attorney will appoint someone to take care of your financial and legal affairs if you are not able to do so. A living will mentions all life-sustaining treatments you would like to receive in case you are incapacitated.

BUY ENOUGH INSURANCE It is essential to manage risk to ensure your financial security in the long term. Insurance provides protection from financial catastrophes.

Buy it when you do not need it.

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INVESTMENTS

S T U O K R O W W HO

BENEFIT YOUR BUSINESS 24

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MANAGEMENT

Taking a break to exercise can do more than benefit your health, it can also benefit your business.

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In this age when everything is online, it’s not easy to unplug yourself from the digital tools. Much of our life and work is now connected to the internet. Even so, every now and then you should make a conscious effort to disconnect yourself. One way of doing this is to hit the gym. Interestingly, an intense session of workout will not only keep you in good shape but also benefit your business immensely. How? Read on to find out.

YOU LEARN TO FOCUS Each second, we are getting flooded with new information. This makes it difficult to focus. One moment, you are updating your social status. The next moment, you are checking your email.

You rarely get a moment to focus on things. Your eyes and mind are constantly

wandering from one bit of information to the next.

Unfortunately, an inability to focus on things also affects your efficiency. Working out can help improve your focus.

When you work out, you set your focus on just one objective: completing the workout.

And when you learn to stay focused on one goal at the gym, you will also learn to focus on other things outside the gym. Multitasking is fine, but you will be amazed at what you can achieve when you focus on just one thing at a time.

YOU COME UP WITH BRILLIANT IDEAS Working out clears your thoughts and mind. It is no coincidence that you always come up with brilliant ideas while you are sweating it out in the gym. This also explains why the gym is an incubator of great ideas.

the way you talk. When you sound sure of yourself, it is easy to convince others to do business with you.

YOU BECOME DISCIPLINED Some people are good at starting, but they don’t finish anything. If you have difficulty committing to something for a prolonged period of time, you should definitely try working out. When you work out consistently, it brings a lot of discipline to your life. This will have a positive impact on other areas of your life as well.

YOU GET RELIEF FROM STRESS A good workout helps relieve stress and anxiety. Stress kills your energy and enthusiasm.

Worse, when you are stressed

out, you are also more likely to be in a foul mood. And when you are no fun to be around, people will distance themselves from you. A great way to get rid of these negative feelings is to channel them into your workout.

Sweating it out in the gym will also clear your thoughts and help you feel better and more focused.

Exercise gives you the mental energy you need to tackle and solve the most challenging problems.

YOU BECOME MORE CONFIDENT People who work out regularly manage to keep themselves in good shape. Good looks improve your confidence.

And confidence benefits your business and career in numerous ways. Confident people have the admirable belief that they can accomplish just about anything they want.

They don’t take ‘no’ for an answer. This confidence actually allows an entrepreneur to sign more deals, acquire more clients, and make more profits.

Confident people also have an outgoing personality. They are not afraid of meeting or talking to people. They build more connections and better relationships. Your confidence will also reflect in

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INVESTMENTS

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MANAGEMENT INVESTMENTS

The way you interact with your clients can have a significant impact on your business bottom line. An ability to read your client's mind is a great skill that will always have you in good stead. In the digital age, a lot of business transactions take place online.

K

nowing a thing or two about the personality of the client before working with them will save you a lot of headaches in the future. It is not easy to figure out the personality of a client through online communication. But here are some helpful pointers.

CLIENTS AND THEIR UNIQUE TRAITS There are many clients who are perfect – polite, respectful, and appreciative. But then there are some difficult ones too. Here are the most common types of difficult clients.

The passive client who becomes aggressive later Ask them for their input during the initial stages of the project. They will not say anything. But when you send them the finished product, they will attack it with all their might. They will insist that you make both minor and major changes to the product. It is possible that they had a clear idea of what they wanted but they kept it to themselves.

Dealing with this type of client requires a great deal of patience. They might ask for revisions again and again.

In this situation, one way of protecting your interests is to ensure that the contract limits the number of revisions you will make.

CLIENTS YOU HAVE KNOWN FOR A LONG TIME This client could be a family

friend or a friend of a family friend. They approach you with a job because they know you well. This familiarity can sometimes land you in trouble. The family friend will insist that they should be given special treatment because they are ‘family’ after all. Some of them might even expect you to offer your service for free.

Be careful while dealing with this client, especially if you want to save the relationship.

Keep in mind that anyone who tries to take advantage of their relationship with you is not a good friend. If you are not keen on offering your service for free, start the discussion with a professional tone. Make it clear that you have to put food on the table.

They will get the hint.

THE CLIENT WHO UNDERVALUES YOUR WORK They simply don’t know how to appreciate someone’s work.

They will constantly devalue your contribution. Since they don’t see much value in your work, they may also want you to slash the prices.

Be confident while dealing with this type of clients. You know the demands of your

This client appreciates your work. That is the reason they hired you in the first place.

job. You know the difficulty involved in completing a project. Just because someone is not seeing value in it, it does not mean that it is worthless.

When the undervaluer realizes that you are confident of the quality of your work, they may also change their stance.

Now in case they refuse to budge, cut your losses. By declining their project, you will at least save your sanity.

THE NITPICKER

These people are manipulative. The sooner you realize it, the better.

Here again, confidence is the key. If you are confident of your skill set, you should be able to keep their manipulation in check. Stand your ground.

And if the disrespect continues, be ready to walk away.

CLIENTS WHO BELIEVE THEY CAN DO IT THEMSELVES

At the outset itself, this client The nitpicker may appreciate will make it clear that they some aspects of your work, are capable of doing what but they are never fully happy they are hiring you for. The with it. They pick reason they are hiron minor or irreleing you is that they vant details. They don’t have time are not necessarily to do it. Many of KEEP IN MIND doing this out of them are actually that their disrespect. It is working for anothnitpicking is not simply their naer employer and about the quality of your work. It ture. Here again, outsourcing their is their trait and you need a lot of work to you. In this there is hardly patience. Don’t case, you have to anything you can take their complease them and do to change it. plaints personally. the person who Keep in mind that hired them. their nitpicking is This client apprenot about the quality of your ciates your work. That is the work. It is their trait and there reason they hired you in the is hardly anything you can do first place. They just want to change it. While drafting to show you that the project the contract, make sure that for which they hired you you are taking ample precauisn’t above their ability. It is tions to protect your interests. actually a matter of ego and nothing else. Most of them THE CLIENT will still allow you to use WHO WANTS TO your ideas and may only offer SAVE MONEY minor suggestions on the finBY DEGRADING ished product. Dealing with SOMEONE’S WORK them is not all that difficult This client likes your work, because they do no real harm. but they will not admit it They just want to flatter their because they want you to ego and if you learn to ignore reduce your pricing. So it, you are not going to be they will find faults with it. affected negatively.

27

MANAGEMENT

Network

Right With These Nifty Tips A strong professional network is an important resource for professionals in any industry. Here are some tips to help you expand yours.

28

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E

vents, clients, partners, employees – tons of opportunities.

Networking benefits everyone.

During a networking event, job seekers can make valuable contacts with potential employers. Recruiters also network with the objective of finding great talent.

When it comes to networking, timing is everything. You have to approach potential connections at a time convenient to them. And you have to ensure that you don’t look or sound desperate to make a contact.

For networking to be effective, you have to make it pleasant for others. Here are some tips.

DON’T JUMP UPON A POTENTIAL CONNECTION Approach them slowly but confidently. If you spring on them as soon as you meet them, they are unlikely to appreciate your eagerness to connect. Instead, approach them casually. Make eye-contact with the person and smile at them. These two gestures give the impression that you are warm, sincere, and approachable. If you don’t smile when you come face to face with someone, you look indifferent and not many people want to connect with an indifferent person.

Offer to shake hands but make sure that you are doing

MANAGEMENT it in a friendly manner. Extending your hand is a sign that you have character. Your handshake should be firm, not soft. That said, don’t hurt the other person by squeezing their hand too hard.

TAKE IT EASY Don’t start your elevator pitch as soon as you meet someone.

Have an informal small talk first and once you are both comfortable talking to one another, you can get to the point.

While talking to a potential client or connection, don’t forget to give them your undivided attention. If you look past they are not vocal about their them, they will lose interest. If lack of interest in your topics, you have no business interest in the other you can guess that person, there is no from their body need to give them language. For your business card. instance, if they DON'T START Some people hand shift their feet or your elevator pitch out their card as roll their eyes, it as soon as you soon as they meet is safe to assume meet someone.

Have an informal someone. This is that they have lost small talk first a mistake. Have a interest. At this and once you are small talk first and point, you have to both comfortable build a rapport move on. talking to one with the other peranother, you can son before giving If you feel that get to the point. them your card. you are being cornered by a HAVE AN talker who wants EXIT STRATEGY to discuss every aspect of It is true that you have an their business with you, you excessive interest in your may want to exit politely. You products and services. can use a polite sentence like However, there is no point in this: ‘I have had a great time expecting that the other pertalking to you, but I am here son will have the same level to meet someone looking for a job.’ of interest in them. Even if

Networking is an incredible strong tactic to accelerate and maintain a high level of business success.

Before leaving the event, make it a point to catch all potential contacts. Let them know that you are leaving.

This kind gesture will cement the budding relationship you have with them. If you leave

without letting them know, they might think that you lack manners. They could also waste time looking for you.

FOLLOW UP This is the golden rule of networking. If you find potential contacts, tell them that you will follow up the next day.

Once you have made this promise, don’t break it. When you follow up you are showing respect for them.

CONCLUSION Networking is all about having great conversations.

It is okay to discuss business, but don’t give the impression that you are only interested in serving your business interests. Show genuine interest in the other person. Find out if there are topics you both have a common interest in.

Remember that once you have built a rapport with them, the networking will automatically happen in the background.

COVER STORY

The Success of

MAGIC VALLEY ELECTRIC CO-OP

in Its First 80 Years

What has made Magic Valley Electric Cooperative such a successful company?

Learn more about how this local organization found success in its first 80 years. s the third largest electric co-op in Texas, Magic Valley Electric Co-Op (MVEC) enjoyed a great amount of success during its first 80 years in business. Farmers and ranchers formed America’s electric cooperatives to secure electricity in order to better their lives. Today, co-ops bring that same spirit of purpose and cooperation to the changing needs of a new generation of cooperative owners. Now with over 96,000 member owners, many things have changed since its founding. However, MVEC continues to find success because it stays true to its core principles.

The journey started in 1937 when farmers in the Rio Grande Valley were looking for ways to get electricity to rural areas. Having no electricity was a difficult hardship. Farm families had to carry heavy buckets of water from wells

30

or irrigation canals to use for cooking, cleaning, and bathing. Without electricity, they also could not use modern devices such as electric lights, washing machines, refrigerators, and other appliances.

Unlike 25 million Americans at that time, farm families did not have access to radios to listen to news and entertainment. This was a common problem in rural areas in the 1930s. Only 12 percent of farms had access to electricity. Private utility companies, who supplied electric power to most of the nation’s consumers, argued that it was too expensive to string electric lines to isolated rural farmsteads.

Anyway, they said, most farmers, were too poor to be able to afford electricity.

Several MVEC board members can recall what it was like to live without electricity. Board chairman Dr. Martin Garcia is now a veterinarian in Raymondville. As a child, he lived at at El Divisadero Ranch in Kenedy County until he started school. He also returned to the farm during summer vacations. He vividly remembers the hardship that his family endured. “Dad had an old generator he would power up and run a few hours in the evenings. I remember

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COVER STORY

"Customer service and interaction have always been my primary focus."

31

COVER STORY

Magic Valley Electric Cooperative was the first electric co-op in the United States to send checks to its members.

irons were heated on the stove before ironing clothes. We had to chop wood to keep the kitchen stoves running.”

When power finally reached the ranch in the late 1940s, “It was a blessing,” said Garcia. “The line from the highway went through my aunt’s ranch and my uncle’s ranch to us—a lot of miles of poles and lines.” While he remembers the difficulty, he also cherishes the good memories such as sitting outside after supper and enjoying the breeze.

District 2 board member Ray Lopez grew up on the northwest side of Brownsville. His family had to use kerosene lamps to light their home until Lopez was about eight years old. Once, he recalls a time when he got too close to a hot lamp and burned his forehead. He also remembers his winter chores, which included bringing a tub of hot charcoal inside to heat the house.

When his family finally had access to

Many board members can remember what it was like to live life without electricity.

32

electricity, they were finally able to get a water heater and indoor plumbing. “It was like heaven for us kids, especially at night,” said Lopez. “You take it for granted now. When you talk to the grandkids about it, they don’t believe you.”

Board member Barbara S. Miller has heard plenty of stories from her family about farm life in north Mercedes before the co-op brought electricity to District 4.

“They felt left behind because most kids in town had electricity and they didn’t,” said Miller. “What they did have were tougher chores, such as hauling buckets of water for their mother to wash clothes.”

District 3 board member Nila Wipf grew up in Batangas, Philippines where her family had no electricity. She recalls that the soot from homemade kerosene lamps would blacken the childrens’ faces.

But there were plenty of additional hardships too. “With no refrigeration, everything had to be fried or dried,” she said.

“Women took scrub boards and clothing to the river. You crammed as much as possible into the daylight hours.”

After dealing with these difficulties for so many years, farm families decided that it was time for a change. On September 13, 1937, they worked together to form one of the first electric co-ops in Texas. It was designed to supply dependable electric

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COVER STORY service to rural areas at an affordable price. Electric cooperatives are democratic, tax-paying, not-for-profit businesses governed by member-elected boards of directors. As member-owned utilities, the distribution systems are self-regulating.

In addition to providing electricity and other products and services to their member-consumers, electric co-ops adhere to a proud tradition of community service.

Fortunately, a new federal agency called the Rural Electrification Administration had recently been created in 1936. The Roosevelt Administration believed that if private enterprise could not supply electric power to the people, then it was the duty of the government to do so. The co-op was able to borrow money from this agency to install the power lines for what is now Magic Valley Electric Cooperative. Three months later, the co-

op’s first line was energized so that farm families in the Rio Grande Valley could use all the modern conveniences.

When President Franklin Roosevelt signed the Rural Electrification Act, he remarked that empowering rural America would “democratize the American dream.” And he was right. By 1939, MVEC had reached 1,349 members.

Membership would only continue to grow in the coming years as more farm families gained access to electricity.

In 1950, Magic Valley Electric Co-op became the first electric co-op in the nation to send members checks for patronage refunds, now called capital credits. A cooperative does not earn profits in the sense that other businesses do. Instead, any margins, or revenues remaining after all expenses have been paid, are returned

to the members in proportion to their usage of the co-op’s services through capital credits allocations and retirements.

The allocations are based on the total dollar amount of services purchased. With the co-op financially healthy, members received checks in proportion to their payments. Since then, $54 million has been returned to MVEC members.

By 1951, most rural residents in the Rio Grande Valley had electricity. MVEC continued to grow, supplying more power to members who added new appliances and farm equipment. In 1953, new three-phase power lines, along with sturdier pole-top hardware, reduced service interruptions and delivered reliable power. MVEC became the first Texas co-op to install two-way radio systems in service trucks and to send members bilingual publications.

Staying at the forefront of technology has helped the company grow and prosper.

General manager John Herrera attributes this success to two key factors.

The first is a conservative board that focuses on the company’s core business.

“We are the best at providing and delivering electricity to our membership,” said Herrera. “And, we are continually looking for new ways to provide better service to our members.” This focus on customer service has been a core part of the co-op’s business model since the beginning. The company aims to achieve total client satisfaction by understanding what members want and delivering it flawlessly.

According to Herrera, his employees are another key part of MVEC’s success. Collaborating with members, they develop innovations and play a role in conserving resources. Herrera believes that the successful implementation of MVEC’s strategy can only be achieved by valuing, challenging, and rewarding their employees. “​ I could not do my job without having outstanding employees,” said Herrera. “As a company, we could not be successful without them.”

33

TECHNOLOGY

Your Office Speaks a Lot About Your Personality

Your office is your throne room. You rule your entire empire from this place. Not surprisingly, it is the most powerful place in the whole of your establishment.

Y

our office tells a lot about you as a person and a leader. However, this aspect of a person's leadership style is often overlooked. This is surprising, especially since the location of a room, the colors of its walls and the general atmosphere prevailing in it can all affect your behavior. For example, having a conversation with somebody at the church is very different from having a chat with somebody at a bar. Your body language, energy levels, tone, and words all change when the location changes.

It does not matter whether you have a traditional or a modern office. If you are the boss, it goes without saying

34

that your office is powerful.

What message are you sending to your clients when they walk into your office room?

Think about the following arrangement. Every time you have a meeting with someone, they will find you sitting behind a desk. You have a wheeled chair, but your visitors have to sit in stationary chairs that are comparatively lower than your throne. There is nothing wrong with this arrangement except that it sends out the message that you are always in charge.

If you want to reinforce your status as the omnipotent boss, you should keep up the arrangement but if you want to engage in more open or mean-

THE OFFICE OF THE BOSS IS AN EXTENSION OF THE COMPANY. THE MESSAGE THAT THIS ROOM SENDS OUT CAN HAVE POWERFUL REPERCUSSIONS.

ingful conversations with your visitors, you should replace the existing seating in your room with a round table and chairs that look and feel similar.

Alternatively, create a comfy sitting area with a couch and a lounge chairs.

Seating is just one element of your room. Now think about other aspects of your office dĂŠcor. Is it all about you? The easiest way to make your space your own is to add lots of personal photos, awards and other memorabilia to it. The problem with this arrangement is that it creates a room that is all about you. So, if your company

values teamwork, collaboration and other such ideas, you are spoiling the culture by simply stuffing your office room with too many personal things. Remove at least some of them and add items that reflect the achievements of other team members as well.

The office of the boss is an extension of the company. The message that this room sends out can have powerful repercussions. If you are trying to build an atmosphere of trust and transparency, you have to make appropriate changes to your room.

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BANK OF SOUTH TEXAS

INVESTMENTS

OBTAINING A BUSINESS LOAN

ISN’T ALL THAT DIFFICULT AFTER ALL

Y

ou need a loan for your business. Even lenders need to lend money. They need your interest payments to survive.

Even so, securing a business loan is not easy. You need to satisfy the lender to get the loan. Here is how you can do it.

BUILD A GOOD RELATIONSHIP WITH THE LENDER Get to know the people working at the bank before approaching them for a loan. Banks are more likely to lend to people they know and trust. Start building a relationship with them even before you need the money.

EXPLAIN WHY YOU NEED THE MONEY There are both good and bad reasons to acquire a loan.

For example, a loan obtained for purchasing a piece of

36

equipment or real estate is a good loan. By contrast, a loan obtained for financing ongoing losses or buying non-essential assets are bad loans. Banks are more likely to approve your application if you are getting the loan for a good reason.

CALCULATE HOW MUCH MONEY YOU NEED Most small enterprises don’t get a loan large enough to finance their requirements. As a result, their working capital shrinks faster than expected.

On the flip side, asking for a really large loan can also cause problems. The lender may suspect your credibility and refuse to entertain your request. Therefore, before applying for a loan, prepare a budget supported by your cash flow and profit and loss statement.

KNOW YOUR CREDIT SCORE Your credit score still plays an important role in determining your chances of getting a loan. Most traditional lenders will insist that you have a credit score of at least 650 to qualify for a loan. That said, some will only lend to people with a credit score in the 700-800 range. The lender will also take a look at your personal debt payments. They can’t be more than 33 percent of your total monthly income. Businesses that have been in operation for more than 2 years with good cash flow may get unsecured term loans and working capital loans.

INDUSTRY RISK The government SIC codes rank industries on the basis of their risk. If you operate in a high-risk industry, obtaining a business loan from a commercial bank may not be all that easy. In this case, you should consider other nonbank lenders.

Most traditional lenders will insist that you have a credit score of at least 650 to qualify for a loan.

CASH FLOW If your operating cash margin is high, the lender can assume that your business will survive adverse market conditions. Generally speaking, most lenders lend on the basis of your company’s cash flow.

FINDING A LENDER Commercial banks are your best bet if you are looking for traditional loans. Non-bank lenders and microlenders are the other options.

YOUR CREDIT SCORE STILL PLAYS AN IMPORTANT ROLE IN DETERMINING YOUR CHANCES OF GETTING A LOAN.

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INVESTMENTS

37

STRATEGY

KNOW YOUR CUSTOMERS GET TO

COLLECT THE RIGHT DATA With the right information, you can connect with customers and grow your business.

Most big companies try to understand their customers so that they can provide them exactly what they’re looking for. Collecting meaningful data about your customers is essential to understand them.

While gathering customer data, you only need to look at those aspects of their profile that are significant for you. So what are the most useful indicators of customer behavior?

Your customers are not a homologous unit – they behave differently. To target them effectively, you need to identify the behaviors that set one customer apart from another. This could be the geographical features of their locality. For example, people living in extremely cold areas need heating systems.

By contrast, heating devices

38

have few takers in tropical regions. Once you understand the behavior of customers in a particular region, you can create messages that address their pain points.

ANALYZE THE REALTIME BEHAVIOR OF YOUR CUSTOMERS Surveys provide insight into customer behavior. While it is fine to draw generalizations from demography, it is also important to analyze the real-time behavior of your customers. Find out how long they stay on your website.

Are they sharing your articles and links on social media?

Your customers are not a homologous unit – they behave differently. To target them effectively, you need to identify the behaviors that set one customer apart from another. www.businessadvisermagazine.com

STRATEGY

If so, what content are they sharing? Find out which pages they visit. By gathering and analyzing real-time customer data, you can identify and predict customer behaviors, needs, and patterns.

ANALYZE CUSTOMER SERVICE RECORDS

Talking to real customers who have used your product is a great opportunity to find out what they like and don’t like about your product.

Even if you have a great product, some customers may still want to return it.

When they call to return a product, ask them what they like and what they don't like. This information that you collect from customers who are not satisfied with your product will help you identify your weaknesses and improve the product. Talking to real customers who have used your product is a great opportunity to find out what they like and don’t like about your product.

IDENTIFY THEIR PERSONAL TASTES AND PREFERENCES It is also important to collect data about the tastes and preferences of your customers. This will enable you to develop content which resonates with them. If they like your content, they are more likely to engage with it. This is another opportunity to gather more useful information about them.

FOLLOW THEM ON SOCIAL MEDIA Youngsters spend about onefifth of their day on social media. Obviously, social media is the best place to reach them. Social media users are not exactly interested in seeing ads. So, instead of showing ads, run an authentic campaign involving real people.

IDENTIFY THE REFERRAL SOURCE Find out the referral source.

If you don't know where your customers are coming from, you can't reach them effectively.

COLLECT ACCURATE CONTACT INFORMATION. The contact information of your customers is a powerful marketing tool. Keep in touch with each one after closing a deal.

39

41

INVESTMENTS

POS

IS A

FOR YOUR

POINT-OF-SALE

SYSTEM CRUCIAL

BUSINESS?

Whether your company is big or small, a point of sale system is a necessity for many businesses. Find out how your business could benefit.

42

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INVESTMENTS

T

echnology has revolutionized our lives. It has changed the way we live, travel, and communicate. It has even changed the way we do business. Take, for instance, the case of POS systems. They have become the technology of choice for forward-looking retailers.

A Point-of-Sale (POS) system is the ultimate solution to a variety of problems faced by both small and large retailers. When you use a POS system, you can ensure that your inventories match tallies and that there are no human errors or unrecorded sales. A POS system will collect and record all the data accurately and help you measure the efficiency of your systems and processes.

Organization is the key to managing inventory. A good POS system will automatically

When you use a POS system, you can ensure that your inventories match tallies and that there are no human errors or unrecorded sales.

Using a POS system, you can also track and measure the performance of your staff. take stock of your inventory and log every sale, complimentary giveaway, and damage. It will save this data to a network so that you can access it remotely whenever you want. By simply analyzing this data, you can see which product is the most popular.

POS systems can automatically track seasonal changes to pricing and adjust inventory accordingly. So for example, when you give special offers or reductions, POS systems need only a fraction of seconds to calculate pricing. By contrast, if you are maintaining manual cash registers, adjusting prices becomes difficult. POS systems can also give feedback on how successful a promotion is.

Using a POS system, you can also track and measure the performance of your staff.

For example, you can find out the hours each employee worked and the number of sales they completed.

Since all interfaces in your different outlets serve the exact same database, you can ensure consistency in pricing, accounts, and stock.

You can decide how you use the data gathered by your POS system. The more you analyze your data, the better insights you develop.

Wastage, for example, is not always recorded although it is quite costly. A POS system will ensure that wastage is also recorded properly.

POS is essentially a computer-based system. It comes with numerous add-ons that serve your needs as a retailer. Once you have installed the essential hardware, you can add other tools /services that will benefit your business. By simply updating the software, you can move with the times.

Some retailers find the thought of adopting new technology a little daunting.

Keep in mind that POS systems are highly user-friendly.

They are designed with the sole objective of making life and business easier for you.

They allow your staff to shift their attention from the cash register to the buyer.

43

5 STRATEGY INVESTMENTS

Steps to Maximum Productivity

Why compromise when you can have it all? Check out these easy steps which can boost your productivity and increase performance.

P

roductivity is an essential part of staying ahead in business.

Often, the more work you can handle, the more money you can make. As business professionals, we all strive to work hard, but are we working smart? Professionals with high levels of productivity can respond with a resounding yes. Read on for a look at how you can take five steps to maximizing your productivity in the office.

44

GET ORGANIZED

REDUCE DISTRACTIONS

The first step that you must take to enhance your productivity is to get organized. Seriously. Set up files in your emails so that you have all of your pertinent information before you get started. Set up your workspace so that you have guidelines and references at your fingertips. The idea is to create a workspace that is organized so that you can work more efficiently. File cabinets and sorting bins work well, too. Organization is a key component to increasing your overall productivity.

Distractions can be a real productivity killer. If you work in a busy office, you’re going to run into distractions.

You need to be pro-active and do things to help reduce the distractions in your own space. If the office is loud, purchase a pair of noise-cancelling ear phones.

If you are working on an important project, put your instant messenger on ‘Do Not Disturb’ and let your phone go to voicemail for all non-urgent callers.

Without these distractions, you can better focus on the task at hand.

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LEARN BETTER TIME MANAGEMENT TIPS

PRIORITIZE YOUR PROJECTS

Time management is a vital part of boosting your productivity. When there is more work than hours in the day, it is vital that you schedule your day to meet your priority work demands. If you use Outlook at work, you can set alerts for when deadlines are approaching or when you need to change gears. This is an effective way to keep on track and on top of your deadlines, requirements and pressing issues. Another way to enhance your time management skills is to minimize the amount of time spent in meetings.

If at all possible, don’t hold a meeting for something that can be covered in an e-mail or in-depth phone conversation.

It is vital that you prioritize your projects and deadlines. Work on the hottest issues and the deadlines that will be approaching first so that you ensure that you always settle your projects and accounts in a timely fashion. By keeping track of what needs to be handled as a priority, you will never have a question of what to do next. This will help you stay busy and productive, and you will see an upsurge in your activity at work.

GET MOTIVATED One of the best things that you can do to enhance your productivity is to get motivated. What motivates you? Music?

A goal? Maybe you’re working towards a promotion? Whatever motivates you, use it. Motivation helps you achieve your goals quicker and provides focus, energy and drive in the work place.

Motivation matters!

Find out what inspires you best 45

INVESTMENTS

46

COVER STORY

www.businessadvisermagazine.com

STARTUP

Check the 3 factors shared by some of the reputed personality development experts to help you maintain healthy credibility.

W

FACTORS THAT CAN MAKE OR BREAK

YOUR CREDIBILITY 48

hen we converse with people, we only pay attention to our words. But we almost forget to focus on the things which we say through our body language, our eye movements, and the pattern of our speech. Sometimes, you might be just explaining your problem to someone; but to the other person, it might come across as complaining, or even worst – accusing.

That’s just one example.

Apart from the way of speaking, the way you meet people and the way you conduct a meeting or participate in it matters a lot.

Check the 3 factors shared by some of the reputed personality development experts to help you maintain healthy credibility.

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INVESTMENTS STARTUP

If you pay attention to the pace of your speech and speak in a comfortable state of mind, you will appear as someone in authoritysomeone responsible.

1. CONTROL YOUR VOICE ‘It’s not what you say- it’s how you say it’. Yes, the ‘how’ matters. Along with your words, your tone, and your voice – they all count.

To add impact to their conversation, people often raise their voice while discussing important things. It might be a good idea, but while doing so, the person should be careful with the pace. Trying to say too many things too fast can make the voice abruptly fluctuate from high to low and vice-versa. You should be vocal, but also relaxed while discussing important matters.

Those of us who have a strong voice or that ‘gifted’ baritone are frequently mistaken to be dominating. If you pay attention to the pace of your speech and speak in a comfortable state of mind, you will

but our body has its own way of expressing our mind.

Here’s one common mistake we all make: when we aren’t much interested, we mostly lean back. We simply rest our back, distancing ourselves from the discussion. appear as someone in authority- someone responsible. A lot of corporate houses groom their high-profile executives to speak with a ‘leadership voice’.

People with stronger voice can easily adapt this skill.

2. YOUR POSTURE DURING CONVERSATIONS Experienced clients and bosses can tell whether you’re interested or bored during a conversation, just by observing the way you sit. We might keep a light smile on our face and nod from time to time,

At times, we even sit a bit sideways with our legs facing the door. This gives the impression that we want to get out of the room as quickly as we can. The best thing to do in such scenario is to take an instant break by reaching for a glass of water, or asking some questions to get back on track.

3. DO NOT GO ON RAMBLING Let’s say you are conducting a presentation for which you weren’t well-prepared. In such situations, we gener-

ally speak whatever we can remember or recollect. And when we find ourselves losing the topic, to save face, we keep on talking just to show that we are still in control.

But for the listeners, it’s pure rambling. They can easily gauge that you’ve lost track.

Once in a while, you might be excused, but in the long run people stop taking you seriously. So, always prepare well for meetings. And the ideal thing to do in such situations is to keep small notes handy for quick reference. In your workplace, while discussing business, always speak after organizing your thoughts well.

Maintain an erect posture and regularly make eye contact.

49

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Smart Marketing.

Real Results.

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