Business – Page 12

How to Have Your Best Business Vacation Ever

A recent survey done by American Express OPEN shows that small business owners are more comfortable taking summer vacations this year than any other year during the recession.

According to the survey, a reported 60% of respondents (small business owners) are planning a week-long vacation for this summer. This is a tremendous leap from last year’s record low 49%, and the highest percentage since 2006. The Small Business Monitor is crediting this increase to a rise in economic confidence on behalf of business owners, as well as in general optimism for sales.

Because so many small business owners are going on vacation this summer, it may be hard to keep the balance in the workplace. Here are a few tips to help you keep your business on track, so you can enjoy your vacation to the fullest.

Stop waiting for the perfect trip

For many business owners, the only reason they don’t actually take a vacation is because they don’t believe any options are convenient. Constantly looking for the perfect week in Paris, or that extended stay in Hawaii, business owners can miss simple opportunities to just get away. It doesn’t have to be fancy or extravagant, just somewhere that‘s unfamiliar and keeps your mind away from your office. A trip to the mountains can provide you solitude that promotes both productivity and relaxation. Wherever you decide to go, just go somewhere.

Plan for your return

Although you’re leaving your office for a period of time, you’re probably still thinking about everything that’s still left to be done in your absence. Instead of beating yourself up about what needs to get done, make a list of everything you want to accomplish on your return, and leave it at that. Make a few quick edits or additions to the list when an idea hits you, but other than that, make the list and leave it alone.

Sleep in

This can be a very hard concept to grasp when you actually have the time to do it. A lot of us get so caught up in the daily grind of waking up early and going to bed late, when we actually have the time to rest, it almost feels wrong. Catch up on all the sleep you’ve missed in recent weeks, and make it a point to do EVERYTHING on your own time. You spend every waking moment living on a schedule, how about you just take the day on as it comes?

Check in when YOU feel like it

Many small business owners tend to forget that the purpose of a vacation is to actually get away from work. Often times, owners will get sucked into making sure things are still on track while they’re away from the office. A true vacation means unplugging completely from work and only providing contact for emergency situations. Obviously, it’s not recommended that you abandon your staff in entirety, so putting a little time aside each day to check emails and voice messages is a good strategy. Maybe thirty minutes here or there, just don’t let staying in the loop dictate your vacation.

Bring your family

Working with your own business can have you so consumed in your office culture that you lose touch with the whole reason you’re even there; make sure to include your close friends and family on your vacation to restore balance to your life. Catch up with friends, see how your kid is feeling, give your significant other a day of attention. Don’t lose the queen trying to protect the castle.

Give your employees the reins, see who steps up

In any business, there are employees beneath the managers who have high potential to lead in the future. When you take your leave, make sure you let these people know the responsibilities and expectations you have set for them. They should be the ones that you know can keep your business moving seamlessly in your absence. Who works the fastest? Who gets the most done each day? Who understands your vision? These are important questions to ask, and the answers that you get will ultimately decide who is next in line to run your business.

Enjoy the moment

This may sound like a cut-and-dry statement, but always take time to actually appreciate your vacation. Stop and look, try some food you’ve never had before, take a lot of pictures; do everything in your power to make the trip as memorable as possible. Often times, moments of inspiration and epiphanies hit us when we are at the peak of positive thought. You may become inspired with an ingenious business idea while enjoying your time off, and who knows, it could make all the difference for your next quarter.

Get excited!

Although planning a vacation somewhere can be stressful for a multitude of reasons, that’s still not a good enough reason to dread the process. Sure, packing, booking, and the actual traveling process can be a tax, but once all of that is out of the way, you feel great! Often times, just anticipating a new adventure can be enough to get you through a tough day you’re having. Use the potential for a great, memorable experience to motivate you through your last few days of work. Having something to look forward to boosts your morale, happiness, and promotes positive thought.

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Meet Your Clients’ Top 10 Demands

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Advice, Business

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American Express’s Open Forum recently published an article highlighting the top 10 items your customers will expect from you this year. Given the ever-evolving world of commerce, tips like these can be helpful when you’re trying to stay ahead of the curve in terms of meeting the expectations of your valued clientele. Take a look at this list, then share your feedback with us on Facebook and on Twitter @cocardatl.

Customers Want:

1. Personalized customer service. This goes beyond a warm welcome at your brick-and-mortar storefront. Today, customers expect a virtual hello anytime they browse your website. Meet this expectation by investing in a strong Web infrastructure and customer-relationship management system that includes email marketing, like Pegasus.

2. Ability to track orders and research history. Customers want to know the status of their orders as well as their purchase and viewing history, and want the option to be reminded of it via social media. To meet this demand, invest in a process that gives your customers access to info similar to what you share with your employees.

3. Respond quickly to tweets and Facebook messages. Customers expect to hear back in around an hour after connecting with companies on social media. Meet this demand by employing a team large enough to stay on top of social media requests.

4. Quick delivery or shipment of a product or service. Impatience is the norm, with most customers expecting a two-day delivery time. Meet this expectation by offering (and charging a premium for) fast shipping.

5. Try and buy. Thanks to companies like Warby Parker and Rent the Runway, customers want the option to try a product before they buy it. Give your customers a no-questions asked return policy that allows them to feel confident in their purchasing decision.

6. Social transparency. Customers want to know what is going on with the companies they choose to support. Keep the communication lines open and share news with your clients/customers through social media, on a blog and/or through a regular company newsletter.

7. Proactive customer service post-sale. Make clients feel valued for their patronage by updating them on payment deadlines, maintenance details and available savings after they’ve placed their order.

8. Value. People want a good deal, but they also want a quality product. Be upfront about your pricing and offer a loyalty reward program for regular customers.

9. Information available 24/7. In a non-stop world, it’s no surprise that customers are eager to access information or to contact people at your company at all hours. Even if you don’t have the staff to support such around-the-clock intel, set up a FAQ page on your website or a pre-recorded message on you phone line that answers common customer concerns at any hour.

10. Be listened to, and be heard. Face it, sometimes the customer isn’t happy. Even if there is nothing your company can do, customers expect a venue for voicing their complaints and concerns. Give them that option by supplying a responsive phone line/section of your website for voicing complaints.

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New Bitcoin Debit Cards may make cryptocurrency a universal coinage

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Business, New Product, Tech

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The Bitcoin craze that began a few years ago is yet another one of the unforeseen curveballs that the internet has thrown at us. Although this form of electronic payment may seem futuristic and innovative—and to some parties, illegitimate—there’s no denying that it has altered the landscape of peer to peer payment forever. With financial service institution “Xapo” set to launch a Bitcoin debit card this month, it brings to question what exactly the future of this cryptocurrency and other open source payments may be.

For those who are a little less tech savvy, Bitcoin is a form of digital payment used to purchase goods, services, or merely trade among consumers. Bitcoins are earned through a process called “mining”, where users connect their computer to a server to process countless other Bitcoin transactions. These transactions go to an independent Bitcoin ledger called the “block chain”.

As users gain more Bitcoins, the processing of mining becomes increasingly difficult, and block chain rewards decrease per every block mined. There are only a finite amount of Bitcoins, and this method of accumulation is only expected to last until about 21 million Bitcoins are created. By that point, the only way to make a profit off of Bitcoins will be through payment transaction fees. This could possibly explain why finding alternative ways to use and transfer Bitcoins has become a topic of interest.

According to www.coindesk.com, the Bitcoin debit card will act the same as a regular debit card, and will be usable at any location a Mastercard can be used. Zapo analyzes the user account registered to the card, and then sells the appropriate amount of Bitcoins through the Bitcoin exchange service “Bitstamp”. The merchant will receive whatever localized currency is accepted in the area, so businesses will still receive real money, not Bitcoins.

With Bitcoin value currently fluctuating near $600 USD per coin on www.bitcoinexchangerate.org, this is a huge step forward for the use of this peculiar digital currency. Now, owners and investors will have legitimate ways to spend their Bitcoins on goods and services outside of the internet. But what affect will this new service have on the market value and liquidity of Bitcoins? Will this make Bitcoin a more legitimate form of payment? Bitcoins were highly popular, largely because their fees were so much lower than those of regular credit card processors; how will this affect the price relationship, and what affect will this debit system have on other merchant payment systems? What do you think? Let us know!

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Run a non-profit? Call CoCard!

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Business, Industry

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Did you know that CoCard counts multiple nonprofits as clients? We’ve worked with nonprofits across the country, ranging from churches to museums and everything in between. We’re even a Goodwill preferred vendor! Regardless of your mission or services, CoCard is able to help by offering affordable, secure, nonprofit merchant accounts—so you can focus your time and your resources on what’s really important: your nonprofit. Gain insight from our team on what equipment and technology best suits your needs, from dial-up terminals to electronic payment gateway, and enjoy it all at a discounted nonprofit rate! Visit our website or call us at 800.317.1819 to get all of the nitty-gritty details.

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