Business Adviser No. 13 Rio Grande Valley

R I O G R A N D E VA L L E Y E D I T I O N

Issue 13

How To Increase

EFFICIENCY WHILE CUTTING COSTS

HOW TO EXPAND YOUR BUSINESS INTO OVERSEAS MARKETS

10 WAYS TO MARKET YOUR STARTUP

+

How To Kill Employee Motivation in 9 Quick Steps What You Need to Know Before You Get into Franchising How Sleep Has Become a Status Symbol

MATT

JARRETT Shares the secret to rapid business growth

Our Team

Editor’s Letter

STAFF

EMPOWERING SMALL BUSINESS

Andrew Yoo Maggie Yoo Oriol Zertuche John Amour Reynaldo Vento

ADVISORY BOARD MEMBERS John Amour David Armstrong Alonzo Cantu Alfonso Cavazos Janet Cavazos Enrique Garza Marco Garza Albert Lopez Dr. Arturo Lopez Shavi Mahtani Dr. Teofilo Ozuna Carol Schmitt Danny Smith Andrew Yoo Maggie Yoo Jose Orona

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

First let me thank you for your continued support, we hope to establish Business Adviser Magazine as the single most important resource for business owners in the Rio Grande Valley. Our vision is to create a brand that would stand for everything business and support business owners with everything they require outside of their core disciplines.

This magazine is the result of an ongoing demand for a reputable, responsible source for business knowledge and advise. The business world can be a scary place, with tough decisions to make and a tough road to success. We plan to ease these situations by providing an online and offline publication that will guide business owners of every level in their ventures. Our team consists of knowledgable entrepreneurs that eat, breathe and live business.

With a dedicated panel of industry experts and a hands-on approach to answering business related questions, Business Adviser Magazine helps business owners stay ahead of the competition and empower them into success. Our mission is to inspire the entrepreneurial spirit and foster business growth by providing the resources needed for business owners to prosper. I personally invite you to join Business Adviser Magazine. We are sure that your business will benefit greatly from the exposure generated in this publication, building brand equity and establishing you as an industry authority.

Sincerely,

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

In This Issue

6 8 10 13 18 22 26 40 44 47 48

10 Ways To Market Your Startup How Sleep Has Become a Status Symbol How the Future of Freelancing Directly Affects You

16

WHAT DOES GOOGLE’S MOBILE ALGORITHM UPDATE MEAN?

30

WHAT YOU NEED TO KNOW BEFORE YOU GET INTO FRANCHISING

Magic Valley Cooperative Managing your energy from the palm of your hand How to Kill Employee Motivation in 9 Quick Steps

By Tracking The Proper Metrics, you Could Double Your Profits.

What’s In It For Me? How to Expand Your Business into Overseas Markets

How To Increase Efficiency While Cutting Costs

4 Steps To Creating a Fiercely Loyal Customer Base How Being Busy Made Me More Productive

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MATT JARRETT SHARES THE SECRET TO RAPID BUSINESS GROWTH

50

GET RID OF CREATIVITY PROBLEMS ONCE AND FOR ALL

MARKETING

S Y A T W E 10 MARK TO UR YO RTUP A T S

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MARKETING

What is it that makes your product better than the products offered by your competitors? How is your product going to benefit potential customers?

L

aunching a startup is easy, but if you don’t have a great promotional strategy, your bootstrapped company is unlikely to succeed in the highly competitive market. That’s the hard truth.

Consumers are bombarded with advertisements every day. This is the biggest problem that startups face. Unlike large organizations, they can’t afford to invest heavily in marketing. So how can an entrepreneur shake up the market with a small budget?

Here are some affordable marketing strategies for startups.

BRAINSTORM Before designing a marketing strategy, you need to evaluate your business plans and goals.

Think about what sets your product apart. What is it that makes your product better than the products offered by your competitors? How is your product going to benefit potential customers? You should focus on these aspects while designing your marketing plan.

KNOW WHO YOUR TARGET AUDIENCE IS Before developing a marketing strategy, you have to identify your target audience. Your product might appeal to a broad section of the society; however, this doesn’t mean that you should try to reach all of them. If your marketing

budget is limited, you need to focus on a specific segment that is going to benefit the most from your product. This strategy will improve your ROI.

DEFINE WHAT SUCCESS MEANS TO YOU Success can mean different things for different companies. For some startups, it may be acquiring more subscribers. For some others, it may be increasing their monthly revenue. It’s a good idea to define your vision of success and work towards it.

FOCUS ON CORE METRICS There is no gain in enjoying all of your “extra” metrics.

They might make you feel good, but they are not a measure of real growth. If your metrics aren’t helping you make decisions, then they’re just wasting your time. Even worse, they could convince you that your business is doing better than it actually is.

Focus on core and actionable metrics and make sure that they are scalable. They’re the ones that will help you make important decisions.

MEET YOUR POTENTIAL CUSTOMERS WHERE THEY’RE AT Define your goals and find ways to accomplish them. As mentioned in an earlier step, you must define your target

market before you create a marketing campaign. After you’ve found your niche, discover where your market audience spends their time, and meet them where they are.

Make sure that your strategies align with your goals.

PREPARE BUDGET AND TIMELINE Once you have identified the tactics you need to market your startup, you need to allocate costs for various promotional activities. Prepare a budget and timeline to help you create a plan.

REVIEW AND ADJUST Now that you have completed your marketing plan, the real fun begins. You have to monitor your marketing plan on a regular basis and make adjustments to it. Analyze each promotional campaign you run. Use AB testing. Are they meeting your goals? Your marketing strategy is not something you can set once and forget it. It is designed to be a guideline, so you need to review it frequently. You will probably need to add new information to it.

CREATE GOOD CONTENT FOR YOUR CAMPAIGNS All successful marketing campaigns make good use of content. If you have good content, people will want to share it. Good content attracts potential consumers and helps build your brand.

You should exercise quality control while creating content. Make sure that your promotions are relevant and helpful. It should appeal to your audience’s tastes.

MAKE YOUR CONTENT AVAILABLE You can publish your branded promotional materials on your own platform. Many brands have been successful in turning their websites into hubs that fans want to visit.

Social media is another great platform to publish branded content. When you make your content easily accessible by your fans, you increase your reach.

CONSISTENTLY CREATE QUALITY CONTENT When you launch a content strategy to promote your business, you need to remember that it will require constant tinkering. Creating great content on a regular basis is the fundamental secret behind all successful content marketing plans. You can’t stop once you have built a sizable audience.

If your metrics aren’t helping you make decisions, then they’re just wasting your time.

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LEADERSHIP

HOW

Sleep HAS BECOME a Status 8

Symbol

LEADERSHIP

Today, sleep is the privilege of the successful.

They indulge themselves with hours of downtime every night because they are confident that the show won’t start till they arrive.

Entrepreneurs are one-ofa-kind. They think and act differently. Thanks to their unique personalities, habits, and traits; they often walk the fine line between genius and insanity.

Entrepreneurs are original thinkers. That being said, this does not mean that all original thinkers have what it takes to be good entrepreneurs. Great entrepreneurs have some morning routines that help them achieve their day’s targets.

They plan their day in advance and start it with a purpose in mind. And they do this every single day… so what can ordinary folks like you and I learn from this?

Plenty. We will get the same results if we emulate what successful people do.

SLEEP BECOMES THE INDICATOR OF SUCCESS Sleep has become the latest fad. It’s hard to believe, but sleep has become a kind of status symbol. Once it was mocked as a major waste of time. The overachievers of the 1980s believed that sleep was for the weak and lazy. But today, sleep is being hailed as the greatest success of executive minds.

Netscape Communications Corp. co-founder Marc Andreessen makes sure that he sleeps for at least 8 hours

every night. Obviously he does not believe in being a workaholic, which was made popular by the likes of Donald Trump and Michael Milken. Trump often bragged about getting only a few hours of sleep. Today, sleep is the privilege of the successful. They indulge themselves with hours of downtime every night because they are confident that the show won’t start till they arrive.

rest to others. This takes their productivity to a whole new level. If you insist that you will do everything yourself, you won’t be able to do much.

THEY TRACK EVERYTHING Successful entrepreneurs have a firm grip over their time. They don’t waste their time in idle pursuits and they track everything that

Successful entrepreneurs have a firm grip over their time. They don’t waste their time in idle pursuits and they track everything that they do hour-by-hour.

HOW DO SUCCESSFUL ENTREPRENEURS FIND TIME TO SLEEP? It’s all about time management. Here are some basic principles.

they do hour-by-hour. This helps them to eliminate unproductive activities from their routine.

THEY ARE AWARE OF TIME-THIEVES

THEY DELEGATE

All successful entrepreneurs put a premium on time. They don’t allow time to fly away.

They guard their time against time thieves. They exploit their resources to save time.

Advancements in technology have led to a massive increase in distractions. They keep themselves focused on their goals and stay away from distractions. They control their use of technology, not the other way around. People who value their time will value others’ time as well. Their communication is concise and to the point.

Smart entrepreneurs delegate. They understand that there is a limit to what they can accomplish in a day.

They know what they are good at. They do those tasks themselves and delegate the

When you value your time, you will be able to take your productivity to the next level.

You will also be able to get the very best from the people you interact with.

SUCCESSFUL ENTREPRENEURS PRIORITIZE Prioritization is the name of the game. Your priorities are the things that are important to you. You will want to get them done before everything else. Entrepreneurs have their list of priorities and most of them can multi-task and conquer 2 or 3 tasks at the same time.

9

STARTUPS

HOW THE FUTURE OF FREELANCING

DIRECTLY AFFECTS YOU Thanks to freelancing, the workplace is undergoing a revolution. People want autonomy. They need flexible work hours and the freedom to set their own schedules.

T

he average employee tenure has had a rapid decline lately. Inversely, we are seeing the rise of independent workers and freelancers. These developments have some serious business implications.

Numerous people lost their jobs in the recession. The uncertain job market encouraged many people to turn to self-employment and entrepreneurship. According to some analysts, half of all Americans will be self-employed by 2020.

This number is staggering.

The use of robots in healthcare roles is increasing as well. These trends will even-

tually put an end to the traditional 9 to 5 jobs. The rise of freelancing may enable many of us to work flexible hours in a relaxed non-corporate environment. And working hours have already changed because of social and technological changes. A number of industries now allow freelance work. We are also seeing a massive increase in the number of people working from home. Are things going to stay this way for long?

In all likelihood, these trends will continue. In many developed nations, governments have started downsizing their workforce. This is a healthy evolution and it will

increase business efficiency and reduce overhead.

IS TECHNOLOGY THE DRIVING FORCE BEHIND FREELANCING? Today a freelancer has easy access to a plethora of online tools. Thanks to the internet and the smartphones, it is simple to stay connected all the time. Other technologies such as cloud based computing and videoconferencing have made it possible for people to work from anywhere.

A physical office is no longer a necessity. The same technology helps freelancers find rewarding jobs. There are online workplaces that connect businesses with talent.

However, technology is not the only factor pushing this trend. The changing needs and wants of workers are also contributing to this development. Until recently, skilled people wanted to find employment with large enterprises.

Now most skilled workers want to work for themselves.

People who start their own online businesses don’t have to take long commutes or have late nights. This is one of the main reasons that workers, especially millennials, turn to freelancing. It improves their work/life balance and quality of living.

HOW DOES THIS AFFECT BUSINESSES? Businesses that support freelancing will be able to attract top skilled professionals seeking flexible hours. Highly talented people are showing increasing reluctance to accept a 9 to 5 job. The cost of hiring and training is also increasing, so businesses that insist that their employees should be physically present at the workplace will find it rather difficult to attract talent and stay competitive.

Many large businesses now have a hybrid workforce consisting of freelancers and fulltime staff. There are numerous small businesses managed exclusively by freelancers.

The uncertain job market encouraged many people to turn to selfemployment and entrepreneurship.

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ENERGY

MAGIC VALLEY COOPERATIVE

MANAGING YOUR ENERGY FROM THE PALM OF YOUR HAND

By Raul Garcia Jr.

T

he power of information in the palm of the hand is a wonderful thing and Magic Valley Electric Cooperative is making sure its members can use a phone, tablet or computer to stay connected and manage their energy. "Our goal is to improve the quality of life of our members in the Rio Grande Valley," said Luis Reyes, Magic Valley Cooperative Communications Coordinator.

After seeing their Magic Valley mobile application downloaded more than ten thousand times Magic Valley is projecting their new means of communication and, with the help of the social media, that the line of communication with their members will be even faster and stronger than ever before.

On the social network, Magic Valley Electric is providing up to the minute information in English and Spanish for its members to keep informed using Facebook, Twitter and Youtube. Reyes said members that have downloaded the app and are using it to pay bills and receive outage notifications. The mobile application can be downloaded through Google Play or iTunes.

Magic Valley was providing information in English and Spanish during the most

recent storm and they found members were satisfied with the constant updates even though members had a power outage, according to Reyes.

“We want to make it easy for our members to view the outages and report outages with the use of the Magic Valley App that shows users the entire area power grid” Reyes said.

Today Magic Valley has 110 thousand meters and close to over 94 thousand members. Magic Valley services six counties: Hidalgo, Willacy, Cameron, Starr, Brooks and Kenedy totaling 4,977 miles of energized power lines. In 2014 over two billion kilowatt hours were sold and Magic Valley is averaging two thousand new members a year.

tricity when the first thirty-seven miles of power lines were set up with the help of a two hundred thousand-dollar loan.

Seventy-eight years later, Magic Valley Electric Cooperative has grown from two hundred members to over ninety-four thousand members receiving power.

"Back in the 1930's most of the cities had electricity but it was very expensive for the electric companies to set up power lines in the rural areas," Reyes said.

The power of electricity has brought the community Magic Valley serves out of the dark. Magic Valley makes every effort to keep in touch using social media and their new mobile app and they are staying connected by keeping their members connected to the power of mobile communications that get recharged every day with Magic Valley Kilowatts.

“We also use a statewide magazine, called the Texas Co-op Power Magazine that is sent out to all of our members on a monthly basis. Every month our members get that magazine and inside there are eight pages dedicated to Magic Valley,” Reyes said.

In 1936 President Roosevelt helped by passing the Rural Electrification Administration (REA) to provide commercial electric companies loans to supply power to rural areas a law to help rural communities get power lines. And the first 125 members of Magic Valley were given elec-

Eastern Division & Corporate Office 1 3/4 Mile West Highway 83 Mercedes, Texas 78570 1-866-225-5683

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MANAGEMENT

WHAT DOES GOOGLE’S MOBILE ALGORITHM UPDATE MEAN FOR YOUR BUSINESS? 14

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TECHNOLOGY

Google wants to return the best results when people use its search engine to find sites and services on the internet, so now the company has made mobile friendliness an important ranking factor.

T

imes are changing and the number of people who access websites on their mobile phones is rising rapidly. Sites optimized for large screen devices like desktops and laptops do not render well across the small screens of a mobile device.

When the content is too big for the screen, the mobile user will have to scroll horizontally. This makes scrolling difficult and makes users leave your website.

Google wants to return the best results when people use its search engine to find sites and services on the internet, so now the company has made mobile friendliness an important ranking factor.

That means websites optimized for mobile phones now enjoy better rankings in Google’s mobile web search results.

WHAT THIS MEANS FOR YOUR BUSINESS If your business website is not optimized for mobile phones, this update is not good news for you. But for businesses that have responsive websites optimized for screens of all sizes, this is a great opportunity because it gives them an advantage over their competitors who don’t have mobile friendly websites. This update makes it possible for a second tier firm with a mobile optimized site to rank higher than larger competitors who haven’t optimized their sites yet. In simple terms, it is yet another reason to have a mobile-optimized website.

Traffic from mobile devices will only grow in the coming years. So if you want to have an edge over your competition, make sure that you have a responsive website optimized for all screen sizes.

THE IMPACT OF THE UPDATE Many websites now get about 60 percent of their traffic from mobile devices.

Google wants to ensure that all websites that figure in its mobile search results provide the best experience to mobile users. The company announced this update in February and started rolling it out on April 21. Google also provided webmasters all the information they needed to make their websites mobile friendly. This update has been nicknamed ‘Mobile-geddon’ because of its ability to shake-up search results.

Make sure that you have a responsive website optimized for all screen sizes, so even if your site does not get a lot of mobile visitors at the moment, it may change in the near future.

MOBILE FRIENDLINESS BECOMES A RANKING SIGNAL Google has been working on this update for quite some time and finally it is here.

This update has made mobile friendliness a ranking factor.

It affects mobile searches in all languages. Google has started labeling websites as mobile-friendly in search results. A mobile user is more likely to click on results labelled as ‘mobile-friendly’.

So, if you have a responsive website, your click-through rate will improve.

HOW TO FIND OUT WHETHER YOUR WEBSITE IS MOBILEFRIENDLY It’s simple – Google has launched a testing tool that allows webmasters to check the mobile friendliness of their website. www.google. com/webmasters/tools/mobile-friendly/ The mobile usability reports in your Webmaster Tools account also provide valuable information.

WILL THIS UPDATE AFFECT YOUR DESKTOP RANKINGS? No, this update only affects mobile search results. It will reportedly have no direct impact on your desktop rankings. That said, it may have some indirect impacts.

Mobile penetration is rising, so even if your site does not get a lot of mobile visitors at the moment, it may change in the near future. Also, by making your site mobile friendly, you will be able to reduce its bounce rate. Since bounce rates are a ranking factor, mobile friendliness may also boost your performance in desktop search results.

WHAT IS GOOGLE TRYING TO ACCOMPLISH WITH THIS UPDATE? Google tweaks its algorithm constantly. They want to provide the best results to their users. Otherwise, people will not use their search engine.

This is the main reason they launched this update. Naturally, they are also driven by money. The new mobile search algorithm is better at crawling single-page web apps. As a result, more apps now make it to search results. This will encourage the development of better apps for Google Play. Better apps means more downloads and more money for Google.

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INVESTMENTS

17

MANAGEMENT

HOW TO

KILL

EMPLOYEE

MOTIVATION

9 IN

QUICK

STEPS

Managers can have an adverse impact on their workplace culture.

In many cases, they simply don’t realize that they are ruining their work environment.

Y

es, you read that right. But who would want to demotivate their employees and increase turnover? Well, there are people who may not want that, but still do that unknowingly. Are you one of them? Read this article to find out.

Recent research in organizational behavior seems to suggest that for most employees, at some point in their career, salary becomes less important than workplace culture.

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Many top level managers do not care about employee morale. They use just about any means to spur them into action. They don’t understand that the way they treat their employees has a huge impact on the productivity of their organization.

People who leave their jobs are not always dissatisfied with their salary. In fact, many people who quit their minimum wage job are seeking another minimum wage job. Why did they leave their previous employer then? They hated the work environment.

Generally speaking, organizations that treat their employees well retain talent and are more profitable. Each company has its unique corporate culture. In the same way, each manager has his or her unique managing style.

There are still certain things that you should avoid if you want your employees to love their workplace.

A boss has to do a lot more than telling people what they should do. He has to build a rapport with his employees. This is required to build trust. When employees have trust in their boss, they will work harder.

Managers of both small and large organizations do several things that can have an adverse impact on their workplace culture. In many cases, they simply don’t realize that they are ruining their work environment.

Here are nine things that demotivate employees.

YOU OFFER POOR TRAINING New employees don’t understand what they are supposed to do. They need training.

If you don’t give them the training they need, they will inevitably make mistakes. Bad managers yell at their employees when they make mistakes and kill their morale.

YOU TOLERATE BAD BEHAVIOR Some of the employees are unhappy with the way another employee behaves at the workplace. They complain about this, but you don’t do anything because you believe that the person has not done anything technically wrong.

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MANAGEMENT that position for ever. Your employees want to climb up the corporate ladder. If you hold them back, they will leave. So, if you are happy with an employee, help them grow and encourage them to groom others under them.

YOU PROMOTE RIVALRY BY GIVING INCENTIVES Contests that pit one employee against another are not exactly a great idea. These contests may cause resentment among your employees.

Group incentives are better than individual incentives.

They have to work together to receive group incentives.

This encourages a team spirit.

YOU RUN COMPETITIONS WHERE ONE EMPLOYEE GETS REWARDED AND THE OTHER DOESN’T Maybe you are right, but upsetting one’s colleagues is not a good thing to do. As a manager, you have to address this issue. Otherwise, employees who behave well may be compelled to leave.

YOU HAVE NOTHING TO MAKE YOUR EMPLOYEES BELIEVE IN THE COMPANY’S MISSION Yes, you have a mission statement, but just because it is there doesn’t mean that your employees will believe it.

When you lay down the rules for your employees, you have to explain how those rules will fulfill your mission.

YOU DON’T PROMOTE EMPLOYEES WHO DO THEIR JOB VERY WELL You may be quite impressed with the performance of a certain employee. But just because they do their job very well, you can’t keep them in

You might assume that internal competition will encourage employees to work harder.

Unfortunately, in a competition, only one person can win. Losers will hold grudges against the winners and the organization. Instead of holding competitions, you can hold activities that promote teamwork and cooperation.

MICROMANAGE So you have hired an exceptionally talented employee to perform a job that you can’t do on your own (either because you lack the time or the talent). Do you try to micromanage them? Do you allow them to do anything on their own? Some managers find it difficult to let go of control. If you find yourself in that situation, you have to remember the reason you hired that employee in the first place. By micromanaging them, you are making them feel useless. This will definitely demotivate them. Let them take a little charge.

YOU TELL INAPPROPRIATE JOKES Everybody loves a ‘cool’ boss who jokes around with them.

Still, as a manager, you have to maintain the employer-employee relationship. Your employees have a professional relationship with you. There is no harm in letting them be their true self, but you should still be the boss and you have to conduct yourself appropriately.

YOU DON’T COMMUNICATE WELL

signment can kill their morale.

Some managers assume that their employees only need a little direction to finish assignments. Give them a little more information. You should at least tell them why a particular assignment is important to the organization and then they will finish it ahead of the schedule.

YOU ARE A BAD LEADER Bad leaders ruin the entire organization, including the

Many managers fail to communicate relevant information with their employees.

While forgetting to wish your employee on their birthday or anniversary is not a big deal, not giving them enough information about a new as-

Your employees want to climb up the corporate ladder. If you hold them back, they will leave.

employees. Even the most talented employees require good leadership to thrive. Develop your own leadership skills first and then hire people with good leadership skills and nurture them.

YOU DON’T VALUE YOUR EMPLOYEES’ TIME If you always call meetings for no reason and send emails to all of your employees with irrelevant information, you are frustrating them. You have to learn to value your employee’s time.

If your workplace is plagued by any of these productivity killers, you should do everything you can to find a solution. Keep in mind that talented people do not stay for long in bad workplaces.

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INVESTMENTS

By Tracking The Proper Metrics,

YOU COULD DOUBLE YOUR PROFITS.

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MANAGEMENT

It’s important to measure the success of your promotional campaigns and overall business performance. You can do that by tracking the metrics that are key to your specific business.

C

learly not all metrics are the same. The metrics that are important for one organization may be useless for another organization. You need to find and measure the right metrics if you want to improve.

If possible, it’s a great idea to measure everything. You would want to measure your success, else you wouldn’t even know if you were making profit or not. You should be able to know your ROI in each marketing channel that you’re invested in. Otherwise, what’s the point?

Tracking metrics allows businesses to evaluate the performance of their various marketing ventures. As a result, they will be able to find and resolve problems faster. By measuring key metrics, you can also improve your employee productivity. When your employees realize that their performance is being measured, they will work harder to improve.

So what are the metrics you need to measure?

Most businesses already measure metrics like sales revenue and gross profits. But these aren't the only metrics you need to measure. There are several other metrics and many of them are even more important than overall sales.

PREFERRED COMMUNICATION CHANNEL This customer service metric has several organizational implications. Today’s customers can contact your organization through a variety of channels, but they still have their favorites. For example, some customers prefer to solve a problem via live chat instead of speaking with an agent over the phone.

CUSTOMER SERVICE METRICS

INBOUND MARKETING ROI

Missed calls, unreturned emails, unresponsive live chat. These are all metrics that need to be measured and minimized. They are important performance indicators that give you a better understanding of the inner workings of your service department.

Using this metric, you can measure your return on investment for inbound marketing campaigns like blogging, social media, and videos etc.

This is the easiest way to ensure your dollars are being spent wisely. If you suspect that a particular marketing tactic is not delivering the kind of result you were hoping for, you can simply check your metrics. By tracking your inbound marketing ROI, you can pinpoint the tactics that produce the best results and the ones that are falling short.

AVERAGE TICKET COUNT Even if your sales are at an all time high, you are still going to receive some complaints. It’s important to track the average number of tickets on a daily, weekly, and monthly basis.

AVERAGE TICKET RESOLUTION TIME This is a key metric in regards to customer service.

Average ticket time essentially shows how efficient your customer service staff is. The less time a customer is kept waiting, the happier they are.

With reduced average ticket time, your support staff will be able to assist more customers.

FIRST RESPONSE TIME This metric ties in with the average ticket resolution time. The quicker your support agents begin assisting a customer, the lower your average ticket resolution time.

IMPACT OF MULTIMEDIA IN MARKETING CONTENT In order to increase engagement, use visuals on your blog posts and social media activities. Original visual content has been proven to drastically increase engagement.

You should implement AB testing to decipher how well each type of visual performs and each social network.

SOCIAL MEDIA DEMOGRAPHICS Information from this key performance indicator reveals a lot of data about your customers.

Tracking the geographical location of your customers and followers has several benefits. It will allow you to more specifically target customers that are near your location. Besides their location, this metric gives more information about their education level and age. This will help you craft a marketing message that targets the exact customer you are aiming for.

MOBILE STATS If you ignore mobile optimization, you are giving every one of your competitors a huge advantage over your business. Google recently revealed that more people search on their phones than on a traditional desktop. Needless to say, it is imperative to optimize your content for mobile devices. Just like everything else, you need to measure the effectiveness of your mobile content by tracking conversions, traffic, and leads. A large number of your customers are already accessing your content on mobile devices. So make it a point to provide the best experience on mobile.

By tracking your inbound marketing ROI, you can pinpoint the tactics that produce the best results and the ones that are falling short.

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INSURANCE

What’s In It

For Me?

We focus on the fact that getting insurance means money going out, and we lose sight of what we and our families are getting in exchange.

I

t’s said quite often: “I’m not interested,” (in insurance). And the fact is that a significant number of people genuinely are NOT interested in insurance per sé. People are not really interested in insurance in very much the same way that many people are not really interested in exercise.

What people ARE interested in is what exercise can do for them, in other words, the benefits of doing exercise.

So they make it a priority; they make time for it in their daily plan several days a week; they make it a point to check it off once it is completed each day. They get an exercise buddy to hold them accountable to their goals and commitments in the area of exercise, and quite often, they quantify and measure their progress. Would they do all this, expend so much effort, and commit so much time to something that was not really important? If I had to take a guess, I’d say, “Probably not.”

People make commitments to run, or jog, or walk, or go to the gym so many days each week, for a certain number of

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By Gracie Garza minutes (or hours!) because they know that, in time, they will reap the benefits of the running/jogging/walking/ working out. Their blood pressure will get better, their stress level will go down, their blood sugar numbers will fall, their “love handles” will shrink, they’ll lose 20 pounds, and their doctor will finally “get off their back”.

They will likely start to feel better, and be able to keep up with their kids without getting winded. When you look at all the good that can come from doing something that may not be much fun (at least in the beginning), it tends to become substantially more appealing.

So it is with insurance. Too often, we focus on the fact that getting insurance means money going out, and we lose sight of what we and our families (or our company) are getting in exchange for those dollars. So what do we get?

The specifics vary, depending on the type of insurance but there are several benefits that convey regardless of the type.

Though in many cases a deductible is the responsibility of the insured, insurance protects the insured from having to foot the entire bill whether it is for personal injury, replacing stolen property, repairing/replacing a vehicle (yours or someone

else’s) after an accident, or repairing a home or business after a serious weather event or other catastrophe.

Gap insurances (there are several types) help the insured pay expenses not covered by their primary insurance for the particular situation. One example is Medicare gap insurance, which helps seniors (who often are on a fixed income) meet deductibles and copays that their Medicare plan does not cover.

Supplemental insurances (many of these are health-related) are similar to gap insurance, but many pay the insured directly, rather than paying the service provider.

This can be a big advantage to the insured, as they may have substantial control over how this money is spent, and it may help them keep their homes and other goods, despite being unable to work for a time because of illness or injury.

Life insurance can make a huge difference for a family that loses their main breadwinner. It can mean the difference between constant struggle and worry over how the bills are going to get

INSURANCE

There should be no problem with a representative coming out to see you and helping you understand your policies.

paid, versus the blessing of financial support during the period of grieving and transition into a position of increasing self-sufficiency.

In all of these situations, the insured gained peace of mind, knowing that the insurance they chose to purchase would be a safety net for them in their time of need. The insured was able to maintain their dignity, in spite of the troubling situation in which they found themselves. While it is true that money cannot solve every problem, financial support can certainly help ease the stress that is a normal part of these life-impacting situations.

Is there anything you can do to ensure that you are making good choices regarding insurance for yourself, your family, or your business? Yes, there is (I’m glad you asked).

Educate yourself about the insurance you are considering. Talk to other business owners or people that are in a similar situation to yours, and humbly ask for their help. Ask them what they have done, and what their reasons were for doing so. De-

separate sheet, but note the page number and paragraph that sparked the question).

scribe your situation and ask for their recommendation.

Do this with several who are apparently doing well and are where you want to be. Take notes. Study it. Discuss it with your business partner or significant other.

When you do purchase insurance, resist the temptation to file away your paperwork immediately. Instead, read the materials that you receive in your policy package with a highlighter and a pen by your side. Use them to highlight anything you don’t understand, and write your questions in the margin (or on a

After you have completed step 2, call your representative and set an appointment to review your policy. Remember that there are no dumb questions. Your representative’s job is to help you gain confidence in your understanding of how the policy works, and to provide you with outstanding customer service. If your representative makes you feel dumb, maybe you should consider getting a new one.

One of the best ways to know if you are getting the right coverage is by knowing what you already have. If you have policies in your folder that you don’t understand or know how they work, do steps 2 and 3 for those policies as well.

There should be no problem with a representative coming out to see you and helping you understand your policies.

Don’t be afraid to politely assert your rights as a policyholder. You are the customer.

And while the customer may not always be right (if you don’t understand your policy), the customer is ALWAYS the customer. And every customer deserves outstanding customer service. Your representative is your customer service delivery system; your resource. Use your resources. Remember, they can’t say “yes” if you don’t ask. So go ahead, ASK.

Jose Orona (210) 823-1744 8000 IH W STE 600 San Antonio, TX 78230

27

FINANCE

Even if you have a great location and a great product, there is no guarantee that you will be successful

F

ranchised businesses are everywhere.

Americans are so bullish on franchising that financial analysts have started referring to it as the ‘wave of the future’.

More than 1/3 of the total sales in the American retail market are now made by franchised businesses, and over 7 million people are employed by this sector. The American landscape is dotted with more than half a million franchised businesses.

Franchising is immensely popular, mainly because it’s a concrete route for people to become business owners of an established brand. There are a lot of people who believe that by buying a franchise, they can become millionaires. Of course,

WHAT YOU NEED TO KNOW BEFORE YOU GET INTO that is not always the case. Like any other business model, franchising has its pros and cons.

How do you know if franchising is right for you? Here are a few things you need to consider before plunging into the franchise business.

PROS OF PURCHASING A FRANCHISE Perhaps the biggest advantage is that the franchisee can benefit from the promotional and marketing activities of the franchisor. However, it’s worth noting that usually the franchisee is the one contributing to these costs.

The franchisee can use the copyrights, trademarks, trade secrets, patents, and secret formulas owned by the franchisor.

Like any other business model, franchising has its pros and cons.

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The franchisee can benefit from the continuous research and development of the franchisor.

You can manage a franchise even if you don’t have any experience because franchisors offer training.

Good franchisors offer training to franchisees.

These training sessions are usually held at corporate headquarters. During these sessions, the franchisees will be taught about daily operations, pre-opening procedures, hiring practices, marketing techniques, and software use etc. On-site training at the franchisee’s location is also provided.

OTHER PROS:

It is relatively easy to obtain the capital required for buying a franchise. Buying a franchise often costs less than starting a similar business from scratch.

Franchises have an established image and reputation.

They are based on a proven management model and have access to national level advertising and support.

PRE-EXISTING SYSTEM No matter which franchise you want to go for, the franchisor will have developed a system to enable you to replicate the business model easily. The system should include standard operating methods and procedures.

SUPPORT STAFF The support staff is based at the corporate headquarters of the franchisor. They help franchisees whenever they face problems. They help with marketing, sales, technology, operations, and real estate. Some franchisors also have field representatives who visit franchisees at their store locations.

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FRANCHISING

FINANCE

CONS OF PURCHASING A FRANCHISE

ROYALTY FEES Royalty fees and start-up costs are the main problem that most franchisees face.

Every year, the franchisee has to the pay the franchisor 12.5 percent of the sales. You may be quite successful at running your business and earning money, but you still have to share your revenue with two partners: your franchisor and Uncle Sam. EXORBITANT COSTS OF RAW MATERIALS The franchisor wants to maintain the quality of their offerings. As a result, many of them insist that the franchisees purchase raw materials from them or their supplier. In either case, the prices charged by the company or their supplier are usually higher than the market price of these materials. Take fast-food franchisees for instance. They often have to pay up to 10% above

the market price for a box of tomatoes, lettuce, or other items that are readily available everywhere. The premium that the franchisee pays for raw materials easily adds up.

A STRICT BOSS Perhaps the biggest advantage of running your own business is the freedom to implement your own rules. However, many franchisors impose strict restrictions on their franchisees. They decide what prices the franchisee should charge and how they should decorate their location.

A franchisee has access to a business model that has already been successful in other markets. When you launch your own business, there is no way you can predict whether that is going to be successful or not. Running a franchise is different than running your own business.

When you run your own business, you are the boss and you have unlimited freedom.

When you run a franchise, you aren’t the real boss. You have to follow the rules dictated by the franchisor.

NONCOMPETITION CLAUSES Noncompetition clauses are built into nearly all franchise agreements. As a result, a franchisee cannot start a similar business of their own after the termination of their franchise agreement. Consider this situation. You buy a hamburger franchise and run it for several years. Then one day you decide to start a higher quality burger joint of your own. With the agreement you are forced to sign, this won’t be possible. The noncompetition agreement prevents former franchisees from starting their own business and competing with the franchisor, so you may be unintentionally limiting your opportunities when you buy a franchise.

NO SUPPORT FOR INDIVIDUAL CREATIVITY Franchises seek uniformity.

All franchises offer the same products, have the same signage and in-store decoration.

The franchisor even decides what uniform the employees should wear. As a result, you will not be able to experiment with your creativity.

So if you are driven by the desire to be your own boss, running a franchise probably isn’t the right decision.

CONCLUSION Running a franchise makes sound business sense.However, you have to consider several things before purchasing one.

If you are interested in buying a franchise, you have to get information about the company and its products. Even if you have a great location and a great product, there is no guarantee that you will be successful, make sure to weigh the pros and cons before signing up.

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INVESTMENTS

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COVER STORY

Customer service and interaction have always been my primary focus.

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COVER STORY

MATT JARRETT SHARES THE SECRET TO RAPID BUSINESS GROWTH

M Jarrett feels that faith and business are intertwined. “I credit Jesus Christ and my religious faith for my successes,” he said.

Matt Jarrett is known as the Operations Manager at TNT Satellites in Pharr. But beyond that, he’s also a family man, self-described sports fanatic, and man of faith.

He grew up in a small town town in East Texas called Martin’s Mill where he regularly attended church. His faith, which shaped him throughout his formative years, still influences how he interacts with the world today. In many respects, Jarrett feels that faith and business are intertwined. “I credit Jesus Christ and my religious faith for my successes,” he said.

Jarrett has always been an active and ambitious business man, even during his humble beginnings working at Pizza Hut. “Customer service and interaction have always been my primary focus,” he said. He later went on to apply those same principles at TNT Satellites.

“I started participating in this business when I met the owner, Nick Golarte in May 2014,” Jarrett explained. “We discussed his goals for the company. I was inspired by his vision and started out as the sales manager. In December, I was promoted to take over the Pharr office.”

TNT Satellites was founded in 2004 in Pflugerville, Texas. In the early days, there were only three employees. “It used to be called Talk and Talk wireless,” Jarrett said. “It was a little cell phone company back then.” Today, TNT Satellites has sixty employees and three different offices in Laredo, Corpus Christi, and Pharr.

Jarrett gets excited when he talks about his successes in the industry. He said, “One thing we’re really proud of is that we’re part of the Dealer Advisory Council.” This honor is only awarded to a select group of elite dealers that provide exceptional customer service. According to Jarrett, there are only eight other companies

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COVER STORY with this distinction in the United States.

The Dealer Advisory Council shares its expertise and helps companies evaluate and develop new programs to improve customer service. Members can also participate in a program that helps them become leaders in the industry. At the national board, members learn about new ideas and contribute to important changes. “It’s a lot of work,” Jarrett said, “but we have serviced over tens of thousands of customers.”

When asked about the most rewarding aspect of running the business, he said that he enjoys meeting new people each day. “We get the chance to build a solid relationship with someone new and make them happy with our service,” he explained.

“As a technician, you’re going into someone’s home. They don’t know you and you don’t know them. You’re a stranger and many people might be naturally reluctant.” Jarrett believes that courtesy and professionalism have helped him overcome these business challenges.

“The reward is when you walk away from that with a new relationship,” he said. “Customers trust and depend on you. They expect you to come through for them, keep your word, and deliver what they need.”

Customer loyalty is one of the most important aspects of running a successful business today. Jarrett believes that values such as honesty and transparency are an everyday secret to success. “We keep our customers satisfied by doing everything we promised we would do,” he said. “If we set a monthly billing fee, we’re sure to keep it that way and never raise it. The same thing applies if we promise to provide free installation.

We also remind them that their bill

Customer loyalty is one of the most important aspects of running a successful business today.

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The company is local and provides same day service

will rise after the 13th month of usage.

But there are no hidden fees.”

Jarrett says that his customers value timely responses. Instead of having to deal with 1-800 numbers and long hold times, customers can call TNT Satellites directly. The company is local and provides same day service. Many people feel more comfortable with a local retailer that takes care of its customers. According to Jarrett, that’s what ultimately built the company’s stellar reputation.

In the future, Jarrett plans to open additional offices in Pharr and Harlingen. He talked about how marketing has helped the company grow so rapidly. “We market through TV commercials, radio, email, telephone, magazines, yard signs, and vehicles,” he said.

But his favorite type of marketing is free. Jarrett says that personal referrals can help you quickly grow your business. “If you build a good rep-

utation for your company, the next thing you know, dad and mom tell their son, their son tells his coworker, the coworker tells his dad. It goes on and on,” he explained. “At the end, you have a pyramid of referrals and it doesn’t cost you a dime. This is an important way to build customer loyalty.”

Jarrett also emphasizes the interdependence of a growing business and the indispensable work of its employees. When considering new employees, he looks for people who are experienced, committed, responsible, honest, loyal, and professional with a clear background. Most importantly, he wants people who are willing to grow with the company.

Homes and businesses have a need for prompt, professional service in the telecommunications industry. Jarrett believes that TNT Satellites is fulfilling that need in the marketplace. Most people love watching TV and surfing the Internet, so the overall outlook is

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COVER STORY

Direct TV customers can also take advantage of premium packages like NFL Sunday Ticket, which brings every play of out-of-market games to customers every Sunday. You can even watch games onthe-go on a tablet or smartphone.

bright. “It’s a great industry to be in because there’s high demand for what we do,” Jarrett said.

At the end of the day, Jarrett is primarily motivated by faith, family, and community. “I want to see this company continue to grow,” he said. “I definitely like the Valley as my home. When it comes to the business, I know there’s more to come.”

Finally, we asked Jarrett why potential customers should choose TNT Satellites. “A lot of people are paying too much for the service they currently have. We’re here to save them money,” Jarrett said. “We deliver more channels, better equipment, and higher speeds that our competitors. We’ve come from coax cables to the Genie, an HD DVR that broadcasts in two million pixels.

Your picture just went from 1980 to 2015.”

Jarrett also talked about the additional benefits of switching to a modern system.

“There are so many things you can do.

You can pause and rewind your shows.

You can record a show in one room and watch it in another room because it’s a whole home DVR system,” he said.

Direct TV customers can also take advantage of premium packages like NFL Sunday Ticket, which brings every play of out-of-market games to customers every Sunday. You can even watch games onthe-go on a tablet or smartphone. It’s a must-have for football fans everywhere.

With so many possibilities, what’s the bottom line according to Jarrett? “There are a lot of people paying too much for their service,” he said, “but they stay with it because they think it’s too much hassle to change. We’re here to upgrade their equipment, save them money, and simplify their lives.”

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STRATEGY

When you decide to split test, look for variables that will have a significant effect on your testing results.

SPLIT TESTING SOMETIMES IT’S GOOD ost companies run a split test, decide what version works better, and settle on one version and continue using it without further tests. Successful companies, on the other hand, will continue to test because they are never happy with their current results.

If you run a business, you will always find a new tool or strategy worth trying. That is why you need to split test.

TEST VARIABLES THAT ARE TRULY IMPORTANT There are many things that you can test. However, while running split tests, your focus should be on the variables that can make a big impact.

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The background color and the size of fonts on your site will only have a small impact on user experience and behavior. Compared to that, your headlines, page design, and the offers and discounts can have a huge impact.

When you decide to split test, look for variables that can have a significant effect on your results.

MEASURE THE RIGHT METRICS Tracking the right information is equally important.

What are your priorities?

What metrics are you trying to measure? Do you want to find out the number of visitors who buy your products right away or the number of visitors who complete your online form? Before starting the split test, you have to ensure that you understand what you are tracking.

Consider this example: one particular version of a sales page attracts 60 buyers at a sales price of 15 dollars. The result is 900 dollars in sales.

Another version of the sales page attracts 75 buyers at a sales price of 11 dollars. The result is 825 dollars in sales.

The first version generated more immediate revenue, whereas the second version brought in more buyers. If you are trying to attract more buyers, the second version will probably be better for you. So make sure that you understand the metrics you are trying to track.

TRACK LONG TERM AS WELL AS SHORT TERM RESULTS When you run split tests, you are more likely to look at short term results. However, what works today need not necessarily work tomorrow.

That explains why you need

to continue to split test. You should also track how your key pages perform over time.

Consider this situation: In one of your split tests, you discovered that one particular version of a sales page converted 5% of visitors into buyers.

You have to understand that this figure will not remain constant. It will vary and the results are more likely to deteriorate over time. One or two months later, the same page may convert only around 4% of visitors if you don’t modify it. That is why you need to track the performance of your pages on a daily basis.

Split testing can be a powerful strategy that can increase your sales and revenue quickly. You only have to use it properly.

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STRATEGY

HOW TO EXPAND YOUR BUSINESS INTO OVERSEAS MARKETS

D

oing international business has become an integral part of numerous successful companies. Think of your iPhone for example.

Apple outsources the production of their phones to China. They do this to cut cost. This allows them to be more competitive with increased profit margins. As technology advances, the barriers to enter international trade will diminish more and more.

HOW DO I START? You need an international business license if you want to do business in a foreign country. Requirements can vary between countries, and the approval process would depend upon your destination country. Here’s the basic framework for obtaining an international business license.

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For starters, you must fill out quite a few application forms. Hiring a law firm located in the foreign country where you want to do business would be a great place to start. They know the area in addition to the local laws, so their expertise is invaluable.

Once you’ve submitted your application, you’ll have a few processing fees thrown at you. You might also have to release additional information about your business’ assets and working capital. On top of that, you may have to prove temporary residency.

The last step is to wait for approval. All applications are reviewed by a special committee which ensures that the applicant meets all requirements. In some cases, there may be an interview.

INTERNATIONAL BUSINESS: OPTIONS AND OPPORTUNITIES If you want to open an international business, you have several options. Some of them are:

OUTSOURCING AND CONTRACT MANUFACTURING Labor costs are high in the United States. As a result, many U.S. companies get their products manufactured in countries where the labor is cheaper. This arrangement is often called outsourcing or international contract manufacturing. A U.S. company may sign an agreement with a foreign company to manufacture its products. It will still control the design and development of the product and sell it under its brand name. Contract manufacturing is common in the apparel business. Many American apparel brands are made in Asia and Latin America.

IMPORTING AND EXPORTING The most common forms of international business are import and export. Many companies that operate in the global market are importers. Other companies export their products to global markets where there is a huge demand for them.

LICENSING Licensing is a great option for companies that want to get into the international market quickly and with limited financial or legal risks. International licensing agreements allow the licensee to use the intellectual property (copyrights, patents, and trademarks) of the licensor and sell their products/services in exchange for a royalty fee.

This is how the arrangement works:

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STRATEGY

Entering overseas markets is now easier than it has ever been. The Internet has made it possible for anyone to buy products from all over the world.

graphics of the country. This will make it easier for you to promote your brand and products in that market.

BUILD AN INTERNATIONAL SALES TEAM You can build an international sales team through hiring, alliances, and partnerships.

Prepare a list of businesses in your industry and contact their executive teams.

Let’s say you run a US company that sells flavored milk. You are confident that your product will be popular in China. However, you lack the resources required to set up shop in China. You can’t manufacture your product in the US and export it to China because it will go stale by the time it gets there. A good solution is to sign a licensing agreement with a Chinese company interested in selling your product.

This agreement will allow the Chinese company to make your product in their country using your process and sell it under your brand name. You pull in royalty fees without taking on the manufacturing overhead.

FRANCHISING Franchising is another way to expand your business to the international market.

The franchiser signs an international franchise agreement with a foreign company (franchisee). This

agreement allows the franchisee to use the franchiser’s brand name and sell their products. The franchisee has to run the business according to the business model set by the franchiser.

The franchiser will take care of marketing and may also provide training. Restaurant chains like KFC and McDonald’s have franchisees all over the world.

ENTERING THE GLOBAL MARKET SCENE Entering overseas markets is now easier than it has ever been. The Internet has made it possible for anyone to buy products from all over the world. Today, companies that want to expand their business overseas have many opportunities. Numerous overseas markets are now open for trade and communication is no longer an issue.

THINGS TO CONSIDER BEFORE ENTERING THE INTERNATIONAL MARKET Ready to enter the overseas market? Here are some important considerations.

IDENTIFY THE OVERSEAS MARKETS WHERE YOU WANT TO OPERATE You have to identify the precise country/region where you want to establish your business operations.

Choose a country where consumers have a healthy amount of buying power.

STUDY THE MARKET Before you expand your business in a foreign country, you need to study the market. You should be familiar with the local demo-

EVALUATE YOUR BRAND When you do business internationally, you can’t always expect your brand name to be your savior. Logos may also have different meanings in different countries.

One size does not fit all. It does not matter where you plan to do business – you should find a way to tell your brand’s story.

KEEP IN TOUCH If you want to operate in the international market, you have to keep in touch with your sales representatives, distributors, and other colleagues. Use technologies such as online video conferencing for this purpose.

FIND SALES REPRESENTATIVES Finding people who can sell your product overseas is extremely important. When you hire sales representatives, choose individuals who are familiar with the market you want to enter.

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TECHNOLOGY

HOW TO INCREASE EFFICIENCY WHILE

CUTTING COSTS Managed Print Services allow you to increase your profitability by taking control of your devices and resources.

Y

ou may think that you have eliminated all unnecessary expenses associated with your IT operations, but you might just be wrong.

Many organizations overlook preventable expenses associated with their imaging and printing systems. Scanners, printers, fax machines, and copiers are almost always overlooked by budget hawks.

Many organizations don’t even know how much money they spend on toners, ink cartridges, paper, hardware, and management overhead.

This is probably because your printing systems are supported by several departments.

For example, they may receive electricity from the utilities department and supplies from several other departments. However, if there is no central mechanism to control print services, their costs may go undocumented and you will end up spending much more than you should.

MPS allows you to optimize your printing resources, save money, and relieve your IT department of various support responsibilities.

IT managers have realized the need to check unnecessary printing costs. They are now turning their attention to specialists who offer Managed Print Services (MPS).

MPS is essentially a practical approach that allows organizations to get the best out of their printing technology.

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WHAT ARE MANAGED PRINT SERVICES? Although Managed Print Services has a broad definition, it serves a simple purpose: reduce your printing costs. As a result, you will be able to save money and increase your productivity.

Managed printing services are eco-friendly. They also improve document security.

Here the term ‘printing’ is used in its broadest sense.

The cost of optimizing and managing your printers and the processes and people that support your printing systems come within the purview of ‘printing’. This includes: • The pages produced by your print operations, mobile workers, and office workers.

• Copiers, fax machines, scanners, desktop printers, high-volume printers, and multifunction printers • Documents and marketing materials sent for offset printing, quick printing, and mailing.

• Technical service, maintenance, IT help support etc.

• Paper, toner, ink, and other supplies If you add up the cost of printing, you will be surprised to find that it accounts for as much as 15 percent of your organization’s annual spending. Managed print services allow you to outsource your printing requirements and thus reduce costs by up to 30%.

An advantage of using Managed Print Services is that they provide customers a single solution for managing various print services. They also ensure secure printing. MPS enables proactive monitoring and offers extra sustainability benefits.

HOW CAN YOU BENEFIT FROM MPS? Managed Print Services allow you to increase your profitability by taking control of your devices and resources.

• MPS helps solve resource drains associated with managing numerous devices with different service contracts and consumables.

• With MPS, you can strategically plan and deploy your devices.

• Digital capture and routing of devices will improve your business processes. As a result, you will be able to substantially reduce the processing times.

• MPS revolutionizes the way you gather and process information. This will keep your staff and clients happy.

ADVANTAGES OF USING MPS Your fleet of devices is built by various manufacturers and controlled by several service contracts. This diversity reduces your workers’ productivity and makes it impossible to benefit from advanced workflow solutions.

MPS helps you plan, support, and deploy fleets of devices in the most efficient manner.

MPS assessments evaluate

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TECHNOLOGY

MPS allows the organization to consolidate its spending on consumables across the entire establishment.

your group and organizational needs using industry-specific best practices. It will even show how your metrics score against your peers’.

When you have access to expert assessment, you will be able to: • Get rid of unnecessary devices hungry for resources.

• Ensure that the right devices are used in the right departments. This will enhance the efficiency of your employees.

• Save time and resources by taking advantage of advanced productivity solutions that can streamline your document processes.

MANAGE THE UNMANAGED With MPS, you can proactively manage the requirements of your organization and increase your productivity.

When you use MPS, you will get to see significant upfront operational savings.

Popular MPS solutions provide usage analytics and data.

They make it easy to foresee needs and pinpoint areas that require attention.

• They reduce your consumable inventory with automated replenishment.

• Your employees will not have to deal with printer maintenance and repair.

• MPS employs advanced security measures and eliminates unnecessary printing

MPS ADVANTAGE: PREDICTABLE PRINTING MPS makes it possible to predict printing costs, so even if you have to replace an old device, your capital expense budget will not be affected.

MPS allows the organization to consolidate its spending on consumables across the entire establishment. If each department has to buy its own supplies, the organization will not be able to benefit from volume discounts.

MPS also eliminates the need to stock on ink or toner inventory.

MPS ADVANTAGE: HARDWARE CONSOLIDATION

support. As a result, your IT staff will have to spend less time on providing support.

• As MPS reduces the number of third party suppliers and vendors, IT vendor management becomes simpler.

Many organizations have a lot more printers, scanners, fax machines, and copiers than they need. Eliminating unnecessary devices is crucial if you want to keep your costs down. In some large organizations, each employee has their device.

However, when the situation is analyzed by a printing expert, these numbers often go down. In many cases, an organization needs just one device for 6 employees. There are several benefits of eliminating unnecessary devices.

You save money on toner and ink. You also save money on electricity bills.

REDUCED RISK

ENHANCED PRODUCTIVITY

MPS is essentially a practical approach that allows organizations to get the best out of their printing technology.

It supports your business goals, reduce your operational costs, and optimize your work practices.

• Continuous monitoring improves user productivity, output quality, and device uptime.

• Proper maintenance reduces the need for technical

• MPS provides industry standard assessments built on proven benchmarking tools and global deployments.

• It meets compliance requirements by using processes and tools that provide enhanced security and privacy.

GREEN SOLUTION • The reduced paper and power consumption makes MPS a green technology.

• It helps your organization achieve significant reduction in its carbon footprints.

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INVESTMENTS

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4

MARKETING

STEPS TO CREATING A

FIERCELY LOYAL

T

he way your employees interact with your customers immediately determines whether you will win their loyalty or not. Most companies lose onethird of their customers every year. While it is possible to replace them with new customers, it’s not easy. On average, attracting a new customer is five times more expensive than retaining an existing customer. That is why smart enterprises try their best to win customer loyalty.

You may have the best people working for you, but if they do not help your customers or if you do not have a system to respond to their queries or complaints, they will walk away.

And you can’t blame them.

WHY IT IS IMPORTANT TO PROVIDE GREAT CUSTOMER SERVICE? Many entrepreneurs simply don’t understand this. They pour money into their marketing campaigns, but often ignore this vital touch point. It’s not easy to understand your customers. And by just looking at your sales chart, you can’t say whether your customer service is efficient or not.

Luckily, building customer loyalty isn’t that difficult. Here are a few methods you can use.

CUSTOMER BASE Make a conscious effort to exceed their expectations.

1

PLAY UP YOUR BENEFITS

Is there anything that makes you different from your competition? If so, make sure that your customers know about it. Emphasize your competitive differences. You should be able to convince your customer that they made the best decision when they decided to do business with you. This is the best way to stand out from the competition.

2

3

EXCEED THEIR EXPECTATIONS

Whatever you offer, make sure that it is better than what your competition offers. Spoil the customer by offering them the best product and customer service. When you offer them the best service, they will expect the same kind of service from others. If they get anything less, it will reinforce their belief that their decision to choose you over your competition was right.

Make a conscious effort to exceed their expectations. This will make it impossible for your competition to snatch your customer away.

4

SAY THANK YOU

Appreciate the customer for doing business with you. You can thank them over the phone, faceto-face, or through a written thank-you note. Customers will appreciate this gesture if you’re genuine. Make sure that you sound sincere.

Loyal customers are the secret sauce behind every successful business. Yes, the quality of your product/ service is important. But if you fail to provide excellent customer service, your customers will not come back to you. Acquiring new customers is possible, but retaining existing ones makes much more sense.

DON’T JUST FOCUS ON YOUR PRODUCTS

Many businesses focus only on their product or service.

Yes, that is what they sell.

However, just because you have a great product or service, it does not mean that you will make a lot of sales.

You have to create a genuine bond with your customers.

You should also provide them an opportunity to connect with one another.

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PRODUCTIVITY

The biggest difference between productive people and busy people is the time they spend not working.

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PRODUCTIVITY

P

roductivity. We’re barraged by this concept on a daily basis. The irony is that we often waste time trying to increase productivity. But what does this even mean? Is it just your work efficiency? What’s interesting is that even the most productive people can’t quite define this concept.

SO… WHAT IS PRODUCTIVITY? There is more to productivity than being busy all the time.

Yes, productive people are almost always doing something. However, just because you are loaded with work and always busy, it doesn’t mean that you’re necessarily a productive guy. It’s not just about keeping busy. It is about meticulous time micromanagement. You will never find productive people wasting their time in pointless endeavors. They know what their priorities are. They don’t miss their deadlines, and they work toward their goals with laser-like focus.

Look around you. You will find that those who are already busy are the ones ready

People that have true time management take some time off during the week.

WHY YOU NEED TO BE A GOOD JUGGLER People who successfully maintain their work-life balance already have a system in place. They think a bit like project managers and this allows them to stay on track. People who can juggle six tasks won’t be swamped when they have to juggle a seventh task.

“I’M ALREADY JUGGLING SIX TASKS, WHAT’S ONE MORE?” THE CONNECTION BETWEEN BEING BUSY Busy people are more reliable than their lazier counterparts. In fact, it is their reliability that encourages them to be busy. When you prove

Productive people deal with problems, barriers, and challenges with a problem-solving attitude. to shoulder more responsibilities. This coincides with high volunteering rates among parents and employed people.

They are already busy with their kids and jobs; yet they are ready to do more. That is the essence of productivity.

yourself to be a dependable person, it builds trust. Trust is the foundation of long lasting relationships. People are more likely to work with someone they can trust. If someone has proven themselves worthy of our trust, we will work with them again and again.

Productive people deal with problems, barriers, and challenges with a problem-solving attitude. They are always looking for solutions. They don’t curse their fate when they meet with unexpected challenges. By contrast, unproductive people hate challenges.

When they face problems, they force themselves to be productive. It’s a very negative outlook when compared with productive people.

KNOWING WHEN NOT TO WORK The biggest difference between productive people and busy people is the time they spend not working.

People that have true time management take some time off during the week. This doesn’t mean they sit around and do nothing. They pursue passions and activities that the normal work week just doesn’t allow.

After a long week, take some time to do something you love. Take a trip to a nearby park and spend some quality time with your friends and family. Having a mini adventure to look forward to on the weekend is a great workweek motivator. Nothing is more refreshing for the coming week than a complete disconnect.

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STRATEGY

OF

GET RID CREATIVITY PROBLEMS AND ONCE FOR ALL Every team consists of people with different personalities and perspectives… and they’re each creative in their own way.

T

he questioner, the supporter, the joker, the observer.

Every team consists of people with different personalities and perspectives… and they’re each creative in their own way.

Creativity can be difficult to harness. It’s something you are born with. At least that is the general perception. If you break down creativity into its individual elements, it is not hard to isolate the factors that make a person creative.

Here are 3 tips to enhance the creativity of your team.

CREATE STANDARDIZED BRANDING Many large organizations have a list of details for their own standardized branding.

Small organizations can develop their own as well.

Standardized branding will ensure that everyone in your team is on the same

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page. Your branding must include information about your logo (styling, placement, colors etc.), company tagline and other branding items that should be used in your promotional materials, press releases, and on your website.

HAVE REGULAR INFORMAL MEETINGS Encourage every team member to come up with their own ideas before they sit down for the formal discussion. When people think independently, their creative juices are more likely to flow. This also helps mitigate “groupthink,” where everyone just goes with the flow of the group instead of thinking for themselves.

Inspiration can be sparked by almost anything. Some common tools are simple funny videos or a compelling article.

These can provide inspiration and get the discussion started. These meetings should be held often enough to facilitate the free-flow of ideas and creativity.

MEET REGULARLY Make sure that your creative team has weekly meetings.

During these meetings, team members can discuss ongoing projects and their ideas. This helps in many ways. Your website developer will probably have no idea that the marketing team has launched a new ad. The PR team may be unaware of the new features added to your website.

When your team members have regular meetings, they will be able to stay informed of new features. There are several advantages to keeping

everybody informed about your processes. Perhaps your PR department can send out a press release about the new website features or products.

These weekly meetings also help with branding. An extra pair of eyes reviewing your website content and marketing materials never hurts.

That said, if your team members do not get along very well, these meetings are unlikely to help. It is important that you hire people who are team players.

By simply having a few guidelines, companies will be in a better position to find solutions faster. And when you give each of your employees an opportunity to add their creative stamp to the company legacy, they will feel more valued.

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