by virtualworks | Mar 24, 2024 | Accomplishments, Business, business growth, Customer relationships, Leadership, Marketing, Mastery, Productivity
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
Consider some of the following indicators as potential flags for a business in need of evolution:
- Current clients have chosen to move to other companies for the goods and services you once provided to them;
2. There doesn’t seem to be any new business coming in;
3. There have been significant changes within your industry;
4. Service gaps discovered while challenging your knowledge and client requests.
Current clients bring in revenue for your business, so as business owners we do all we can to ensure they are happy with the service and deliverables received. Some of the more common reasons for losing clients are either they are unhappy with the service received, the product delivered, or how much that product costs, but in many cases, businesses have worked hard to deliver a quality product, have remained professional and researched prices well enough that they align to the market. At times we hear business owners say, “I did all of that, but they still moved on.” In these cases, it is possible that the client simply didn’t need the product anymore as it is in its current state. Perhaps some enhancements can be made to your current offerings to provide a little more to clients to give you an extra edge over competitors. A few examples can be found in this Entrepreneurship in a Box’s article. It’s fantastic when current clients hang with us but to continue business growth, new customers are also needed. Positive word of mouth from existing customers is one of the best ways to create this organic growth in customer base, but if you need to go out to find them, you need to get out there. Try attending tradeshows, updating your marketing strategy and image and networking through newer types of media.
To manage both the maintenance of current clients and the acquisition of new clients it may be necessary to take a look for gaps in your current offerings. It’s nice to think we’re doing all we can, but perhaps there are areas you can educate yourself on to provide a more complete solution to clients. Maybe you are a bookkeeping wizard, but new accounting software has come out that you’re unfamiliar with, and you have begun to see a client need related to that software. It might be time to evolve and learn the software to fill in that gap to offer that complete bookkeeping solution.
Innovative changes happen constantly and will continue to do so, with or without you.
When your industry starts to change it may not be very noticeable at first but over time you may see your competitors changing and evolving with innovations and there may be a reason for it. When changes in technologies and how a client’s function in their activities happen, suppliers to those clients also need to evolve and innovate. Check into each of your products and services to see if they are all still applicable or if they have grown stale. If you’re wondering how this can be done, check out this interesting Info Entrepreneurs article touching on some of the ways to innovate.
by virtualworks | Mar 3, 2024 | Accomplishments, Business, business growth, daily lfe, Leadership, Mastery, Productivity
Whether in business or in our personal lives, we’re constantly striving to find something, to do something, or to complete something leading to an achievement or accomplishment and we measure how successful we are against the ability to reach these goals. Many times, we’re so busy looking ahead to how we can achieve these goals, we often forget to reflect on what we’ve already done and we may only be recognizing professional achievement and not the day to day ‘stuff’ that this wide ride called life can throw at us.
A colleague told me a story of how one of her friends was completely down on himself, feeling like he hadn’t accomplished anything. While he admitted this was an extreme way of thinking, to not have accomplished ANYTHING, he couldn’t shake the feeling that he had not yet done anything with his life, as he was in his mid-thirties, had never been able to buy his own home and did not have a solid career nailed down, nor did he have any idea what his career was. However, he had been married for 15 years, with three almost grown, respectful children and he took care of his parents and grandmother when he could. She pointed out what he had already accomplished but this didn’t resonate as actual accomplishments to him. But why?
When we fail to recognize what we’ve done in our lives as a whole, we may be denying ourselves that feeling of accomplishment, which gives us that little motivation boost to go further to achieve the goals we set out to do.
It comes down to how we measure success, and we all do it differently. These differences can stem from our upbringing, our personal and professional experience, our current societal norms, numerous other factors, but one thing remains: for the most part, we want to be successful and we each have a measure in our mind of what this is. Forbes magazine has given an indication of how one should measure success, and that all starts with YOU, in terms of what success represents, how it is measured in your state of mind, and that it is for YOU to measure an no one else. So the first question is: How do YOU measure success?
Success comes in many forms, small to large, professional and personal and it’s a good idea to know where you are at with respect to your own larger goals, because each little step further towards and overarching goal is an accomplishment in and of itself. If I said I want to be a psychologist so I can help people, this is a very broad and very big goal. The chance that I may not accomplish this larger goal is fairly likely, but that should not be a deterrent for trying or enjoying the path to get there. Each course passed towards a psychology degree, each article read and understood and each opportunity to rest and let the information connect is its own accomplishment.
So, why not celebrate what you have managed to do, to provide the fuel to your motivational fire?? If you’re still focused on those larger goals, Psychology Today as a short article on steps to achieving those goals and remember to enjoy the road to get there! So, take it easy on yourself, give yourself a pat on the back for what you’ve been able to do and you will move on to do more.
I’ve successfully written this short article.
Now it’s your turn to do something amazing!
by virtualworks | Jan 29, 2024 | Leadership, Mastery, Productivity, Remote Office Management, Time Management, Travelling, Virtual Assistant, working remotely
When we talk about “working in the cloud,” it’s usually in reference to the digital realm—files stored online, accessible from servers around the world rather than our local hard drives. But let’s take a moment to reminisce about the original clouds—the fluffy, white ones that float above, turning ominous before a storm.
Last year, I had the unique opportunity to work in those original clouds, and no, it’s not a metaphor. My office was 39,000 feet above planet Earth. While this might sound like a nerve-wracking prospect to some, for seasoned business travellers, it’s become the norm.
Armed with a tablet and other mobile devices, daily tasks and much more can be seamlessly accomplished while jet-setting on business trips—or, in my case, returning from a holiday in the UK.
So, how does this airborne productivity unfold? The airline I flew with provided WiFi access via satellite for a nominal fee, enabling me to respond to emails and check my calendar. All the necessary documents were on my tablet, along with the essential apps. Once I completed my tasks, I uploaded the documents to the digital version of the cloud, making them accessible to my assistant.
In the dynamic landscape of technology, constant change and improvement pave the way for enhanced productivity. For me, staying abreast of current technology transforms idle time into valuable productivity. The idea of having the option to get ahead on my workweek during a 6.5-hour flight is empowering. Yes, the surroundings were a tad cramped, but it worked.
As technology continues to evolve, the possibilities for leveraging travel time productively are boundless. Do you seize the opportunity to embrace technology while on the move, or do you prefer to use travel time as a moment to relax and unwind?
by virtualworks | Oct 9, 2023 | Business, business growth, Leadership, Mastery, Productivity, Uncategorized
Many business owners start off with a great idea that will change the world and, through time and effort, they will evolve personally and professionally to be the best in their field. Though you might not think of it these terms, what they are actually doing, actually reaching for, is “mastery”.
You know this, because you work day and night, you have put in the hours of work, training, research, and sweat. I don’t have to tell you that becoming the master of business requires hard work. Malcom Gladwell would tell you that it takes 10,000 hours of “deliberate practice” to master a skill.
Imagine watching the best Formula One driver, or the most incredible ballerina. They make their chosen trade look so easy, and accessible. It is only when you attempt to duplicate the complex beauty of the Dance of Sugar Plum Fairy (reported to be one of the most difficult roles to dance), or harness the 1000 horsepower around a turn pulling 3 G’s in a Formula-1 car, you realize that just because something looks easy doesn’t mean it is.
And that may be true for something like ballet or the violin where the skill is quantifiable. Becoming a master in your field of business however, is much more than “time in” on any endeavour.
As I look around there are any number of businesses supplying goods and services to their customers in thousands of industries. What separates the successful from those who have become a master at their industry is a gritty combination of discipline, hard work, humility and generosity. Most of us would agree with the first three, but generosity?
There’s an old adage, “if you want to learn something well, teach it to someone else”. In order to teach well, it requires that you face your presuppositions about things, unearth those ideas that you didn’t even realize you believe. Being the master of any subject (even one that you invented) requires you to be able to objectively look at whatever you’re doing and seeing ways it can be improved. To teach someone else what you know requires a certain generosity. After so many years of defending your own turf, that can be difficult, but that generosity has the reward of unearthing flaws in your system in order to improve them, and you cannot master what you think is perfect.
by virtualworks | Sep 10, 2023 | Brand Image, Business, business growth, Customer relationships, Leadership, Marketing, Mastery, Productivity, Remote Office Management, Time Management, working from home, working remotely
One of my favourite business books is “Raving Fans – A Revolutionary Approach to Customer Service” by Ken Blanchard and Sheldon Bowles. Published in 1993, the concepts in this book are as relevant today as they were then – perhaps even more so. One of the best ways to increase customer retention is to simply over deliver whenever possible. Giving your customers or clients more than they were expecting is a great way to keep them returning to your store or website (read: “raving fan”).
Who doesn’t like to get free stuff?
How can you over deliver to your customers as often as possible? Here are some unique customer service ideas to get you started (not surprisingly, it’s the little things that count and it doesn’t have to cost much).
- Give your customer a bonus, this could be a sample product, access to a coaching call or access to a private mastermind;
- Send them an article or a website link about something you know they’re interested in;
- Offer your customer a coupon for a discount on their next purchase. This also helps to get your customers visiting your store or website again. You could also offer a free sample, a consultation or a buy one get one free;
- If you offer a service, the best way to over deliver is to get the project finished ahead of time. Beating deadlines is a wonderful way to add value to your own offers and gain lifelong customers;
- Small gestures can go a long way in gaining appreciative customers. Sending a handwritten thank-you note by regular mail is one way to achieve this. Other small gestures include sending birthday and anniversary cards, or any number of other card ideas. (Tip: ‘Lumpy mail’ gets opened more often than flat mail…)
- Why not set up something such as a Customer of the Month or Customer Shout Out. Here you would thank your customer or highlight something they did that you thought was really cool;
- Invite them on an outing at your cost and go with them – a round of golf, a cycling trip, concert, festival. This is a fantastic way to build rapport with your customers and shows them you care.
Don’t forget to celebrate with your clients and customers and even fellow business owners. If they win a new contract or make a significant improvement in their business, send them a card or small gift. This sends the message that you’re paying attention.
Another fantastic way to over deliver to your present customers is to network with other business owners. Refer local businesses that offer quality services and products, which you do not carry. By doing this, you create resources for your customers and clients and you also help support local business. Always be sure to check out these sources first though because your reputation is on the line. You don’t want to recommend a bad resource or product to anyone.
by virtualworks | Aug 13, 2023 | Business, business growth, Customer relationships, Leadership, Marketing, Mastery, office management, Outsourcing, Productivity, Team Work, Time Management, Virtual Assistant, working from home, working remotely
When you think of the most expensive admin assistant on the Planet, you might think of someone like Tony Stark’s assistant who puts up with all his quirks, but who is handsomely paid for her hardship. Or a billionaire’s assistant who is available 24/7 and at a moment’s notice may be called upon to drop everything and jump on a plane to Tokyo to attend meetings with their boss. You might think that…… and you would be wrong.
YOU.. yes.. you… are the most expensive admin assistant on the planet.
How can this be true? It’s because studies show that administrative tasks take up as much as 25% of an organization’s time.
So, what does this mean? Before we even talk about the dollar cost of this truth let’s talk about time. As a business owner, working a very conservative 60 hours a week, this equates to 15 hours per week. Which may not seem like that much, but how about when we look at the annual cost of this truth?
720 HOURS per year the average business owner spends on administrative tasks, that’s THREE MONTHS! Take that 720 hours and multiply by your client charge out rate. Not only is that a lot of money for doing back-office work that you shouldn’t be doing in the first place, it’s also money you haven’t billed because you’ve been doing “the paperwork”. If you outsourced these tasks alone at a much lower rate (hopefully) than you bill your clients, just think what you could do with an extra three month’s worth of time and a whole lot of extra money every year!!!
- How could your organization grow?
- What activities could you do with your family?
- How could you invest in your network and members?
- How could you serve your community?
If you have ever thought, “if only I had more time…” (you know that’s just an excuse, right?!?) and yet repeatedly find yourself burning the midnight oil filing invoices, inputting information into a database, updating your social media (or wishing you had time for social media)…
Everyone has the same 24 hours in a day so why not change things up and use those hours to full advantage?
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
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