How to become a trusted name in Business

Most of the small business owners would agree that their greatest challenge is to create credibility amongst their customers. Most of the customers like to buy products from a company that they can trust in. However, getting a clean track record is not an easy task, because you need customers to prove that you are good.

The company’s web presence is a very important aspect. People tend to believe in companies that have a proper business website with proper contact details. Internet is often the first place where customers are going to research you. A professional website will create a great impression and a badly designed one can do right the opposite. For those who have no website at all, wave goodbye to your customers.

You are the best person to promote your brand. You must be able to confidently speak for your business. When you are confident, your customers will be confident too. Don’t be afraid to act as though you are already established. Never tell your customers that you are small. Talk big and act big.

Another important point is to present your company well. When you organize a meeting with a client, plan and organize well. If you don’t have the money for a permanent office space yet, you must go for virtual office solutions by providers like Spacelance. They are so much cheaper and will give your customers the impression of being a well-organized and successful business. Most of the clients shop with their eyes and so you have to make a neat presence to impress them.

You must always act like a successful player within your industry. Take part in networking events and get to know your competitors in the sector. Attending conferences and meetings like these can help you make good business links which are important for the growth of your business.

You have to remember that establishing yourself as a credible company begins right from the early stages and it is very important to appear credible, connected and knowledgeable if you want to succeed.

Advantages of Virtual Address for your Business

When you begin a business, most of the new businessmen will tend to choose the least expensive way to run the business. What you must remember is that along with the firm name, logo, company website, banking relations and publicity, a professional business address is also very important for your business.

It is not sensible to use your home address for the office address for a large number of reasons. With the virtual office solutions that are available now, it is possible to now choose a proper office address four your business.

Some of the advantages of having a virtual address for your business are as follows.

Having a real business address adds credibility to your business. Your customers will trust you more when you have a real office address on your site and business cards.

When you have a virtual address, there is always someone available to greet your customers when they may want to visit your office.

The visitors or clients will be walking into a furnished office space that gives even a small business owner, a good professional look and feel.
You have someone present at this address to collect your official mail and packages even when you are traveling.

Most often, there is also a common meeting place for such virtual office solutions. It is much more professional than holding your official meetings in a café.

It’s very important to present your company well to the clients. If you are having a meeting with your clients in a totally unprofessional place, you will look really unorganized as a business. When you cannot afford a permanent office address, you can go for virtual office address by companies like Spacelance as they are so much cheaper and even more professional.

A working office address is very important, no matter how small your business is. The overall success of the business often depends on such small things and you must not ignore the significance of a credible office address for the growth of your business.

Why use Virtual Office Solutions in Cochin?

The ever-changing economic conditions make it necessary for almost every new business to change its way of operation. The traditional office setup with a few employees is not the only way to begin a business today. With the increase of home based and mobile businesses, there has been a unprecedented demand for flexible workspace solutions. This is where the importance of Virtual office has come up.

Virtual offices in Cochin are providing businesses an option to set up their office in the city with minimal costs. It is very important for businesses to save money in their beginning stages. Renting a real office in Kochi can cost anywhere between Rs. 5000 to 10,000. You can begin virtual offices for as less as Rs. 500 in the city now.

Having a business address and a local landline number in Cochin is very important for giving your business a professional touch. Without having to worry about the day-to-day running costs of an office, you can set up your address in Cochin at low costs with virtual office solutions.

Virtual office solutions includes everything that a business would require to run such as a business address, local phone number, local fax number, receptionist services and local mail handling services.
Having a prestigious Cochin address on your business card will build the repute of your business immensely. By using the virtual office setup, you are actually sharing the costs of day to day running of an office.

For startups and entrepreneurs, the overhead of setting up an office can become really expensive and tiresome. Simply buy a virtual office plan that suits best for your business and work from anywhere you want.

With a virtual office address, you can be at several places at once. While you are meeting one client, your receptionist at the virtual office would be handling another client’s calls.
Whether it is a local business you’re running or you are looking to expand your business nationally or even internationally, your business will need a local address, local phone number, local support team and a professional presence, be it any market.

A virtual office is the right answer to all these needs. It helps to maintain the professional image of a traditional, high cost office, while avoiding the daily running costs. Renting a virtual office in Cochin is the most economical way to begin your business.

Importance of Communication in Business

Customer communication is the key to success in business. Only if you keep up a strong communication with your customers, will your business prosper. The communication between employees is also very important.

Most of the new businesses make the mistake of thinking that customer communication is required only once in a while. Sending out a newsletter every month is not enough if you want to stay in business. Only if you keep constant contact with them would you be able to keep your customers loyal. Remember, brand loyalty is now a thing of the past.

The latest generation of customers are not going to stay attentive to you unless you communicate with them more efficiently than your competitors. Even the best businesses are failing today because they tend to focus less on customer communication.

The modes of customer communication used today vary from TV, radio and newspaper to online communication by social networking sites. Creating a blog for your customers will also help you to keep in constant contact with them. It definitely pays to build an online relationship with your customers nowadays. Using an open platform like a social networking site to communicate with your customers will give them a chance to respond publicly which will often be for the good of your business.

For all businesses that are still alien to online customer communication, it is high time you started making changes. For your business associates, you can choose more personal ways like video conferencing to build relationships.

Proper communication between your employees and customers is also important. You can maintain the quality of conversation between your employees and your customers by giving your employees more responsibility and making them feel that the company’s development is important for them as well. Make them know how important they are for your business and this will help them focus better.

Tailor your training strategy in such a way that employees are taught the importance of customer communication right from the beginning.

Tips for Business Planning and Strategy

For those young entrepreneurs with a clear visual and with the right approach, there is hope for success even in times of economic crisis. Here are a few tips that could help you plan your business well.

Have a vision: You must have a short term and long term vision for your business. Set realistic goals right from the beginning and make sure that you achieve them in the time frame you have decided.

Do thorough research: It is always important to have a clear-cut idea of the market you are venturing into. Research on the competition for your business in the region and use this to frame your business strategy.

Plan your budget well: though this sounds easy, it is one of the toughest task faced by most new businessmen. You have to make sure that your spending falls in line with the budget you planned. Most businesses run out of money very soon. Make sure this does not happen to you. For this, all you need is expert planning.

Research your customer base: Your business would be a complete failure without your customers. You must have a clear idea of who your customers are even before you start planning your business strategy. Put quality time and effort into learning about what your customers need.

Make your plans realistic: You have to plan everything realistically. Dont go overboard and plan big things right from the beginning. This way you will find it easier to achieve your goals.

Even you can go wrong: Don’t think that you are always correct. If you believe that you know better than anyone else, then you are going to make a lot of mistakes while planning your business strategy.

Know the best way to sell: You have to what your best selling point is. The plan and strategy has to revolve around that. This is what will make you achieve success fast.

Make sure you test your plan: You have to be sensible enough to know that plans don’t always work they way you think it should. Test it out and if you feel that it is not working the way you expected, make a change.

Celebrate your achievements and don’t lose your passion: Planning is a really tough job. So make sure you celebrate when you start achieving your targets. Rewarding yourself and those around you will make sure that motivation to work hard continues.

Virtual Office at your Service

The concept of virtual office in Cochin is picking up fast. Several advantages contribute to this, which are mainly, convenience and financial benefits.

The commercial real estate sector in Kochi has seen a comedown because of the slowdown in economy. This is why virtual offices are becoming more and more popular now. A virtual office in Cochin is going to cost you only as little as Rs. 500 per month, which is so much lesser when compared to renting an office space for the most minimal rate of Rs. 7000/month.

A virtual office offers you all the conveniences of a real office without having to pay as much. Such virtual offices are most convenient for start up businesses and freelancers who want to increase their customer reach.

The growing demand for virtual office space in Cochin is mainly because of the convenience it offers and the money it can save you. It offers you the flexibility to work from anywhere you want at a much cheaper price than renting an office. A good business address is very important for the success of any business and virtual offices is the perfect answer to your needs.

The concept of virtual office is still new to Kochi and people are still getting to know about it. However, the idea is very popular in all other major cities of India like Delhi, Chennai, Bangalore and Pune.

For most of the small businesses, it is not viable to have a fully functional office. The owner of such a business would constantly be on the go for needs such as marketing and sales. It is difficult for such an office to have someone available in office all the time even though it is important that they must have someone to handle their customer calls.

A virtual office setup can help you achieve this by giving your business a professional presence in the city, even if you are working from home or any other place. Virtual office solutions offer all the facilities that is needed to run a small time business without the overhead costs of renting an office. Several packages are offered and you can choose the one that suits your needs best.

It is becoming increasingly important to have a professional address for your business in Kochi. A virtual office plan would be the best answer to your needs.

How to Maintain your Customer Base

Losing customers in a shrinking economy is one of the biggest challenges faced by business owners today. The economy keeps fluctuating and it is very important to maintain your customer base when you are going through a down stage. Very few customers go after brand loyalty these days. As the competition rises, preserving your customer base is becoming as tough as finding new ones.

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It is important for business owners to find ways to keep their customer base without competing only with prices. Here are a few tips, which can help to maintain your customer base:

Offer the best customer service you can:

Though this point is pretty obvious, it is very hard to ensure that you are offering your customers the best. You must remember that this is an ongoing task and conducting regular service level checks is very important to ensure that your customers are happy.

Train your staff constantly:

Performance evaluation of your staff is important and so are meetings with your employees to find out if there are any issues that needs sorting out. Regular seminars to help your employees with customer service tips can also help to improve your staff efficiency.

Offer customer loyalty rewards:

You have to provide a reason for your customers to come back. Offer loyalty rewards and special discounts to the most loyal customers.

Offer premium service:

Many long-term customers and a few new ones too, would want extra attention. You must offer a premium service option to give these customers special attention and exclusive discounts.

Keep in touch with your customers:

Send them emails about your latest offers and make personal phone calls to the customers that you cannot afford to lose.

Take surveys and exit polls:

You can get to know your customers through feedback forms and polls. The data that is collected through such media can provide you good ideas to improve your service and also to identify new opportunities for growing your business.

Simple Marketing Strategies for a New Business

Ever since the economic crisis hit us, most of the businesses have reduced marketing budgets. However, by maintaining a few marketing strategies, you can pull your business ahead of the competition. Most often, when the company is on a crisis mode, the marketing budget is the first to be affected. This is true especially in the case of small businesses and start-ups.

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Communicating with your customers is important and this is exactly what is intended out of marketing. You have to research find out the needs of your customers to maintain and develop your customer base and also to identify new business opportunities that you can pursue.

The finest opening point for any market strategy is research. There are so many simple and effective marketing strategies that you can adopt to gain an edge over the competition in your business field.
Researching for marketing strategies is a very important task. You have to be fully aware of the goal of your research, which is to identify your prospective customer base. The three main items that you have to focus on when you research for marketing strategies are as follows.

The Internet is your Holy Grail:

Use the internet to find out cheap online survey applications. These will help you to get opinions from your customers. Be specific when you prepare your survey questions. No one wants to go through a long survey. Most of the customers are going to have a short attention span and so you have to make sure that you stick to engaging questions.

Google is the most important market research tool. The special functions like Google Analytics can help small businesses understand their customer base. By using keyword researches, you can also investigate competitor businesses.

Collecting information is important:

You have to interview find out the prospect your business by interviewing prospective customers and identifying their needs and requirements. You can start within your family and friends and then move on to the outside customers through email or phone. Social Media is another great tool to get to your customers. With the help of social media, you can also find out what your customers are saying about your products and services. To improve your business you need to know what your customers are saying about you.

Research the competition too!

You also have to find out how your competitors are doing in the business. By becoming a customer of your competitor, you can identify every part of their business. This will help you to find ways to surpass their product and also to pick up ideas to integrate in your business. You have to be a customer to identify your customer needs. So try to test as many aspects of your competitor’s business. This will definitely help you move up the graph.

When your customers have decided to tighten the strings of their purse, it would be foolish to ignore them. Several big businesses have actually gained success by strengthening marketing strategies during times of economic crisis. So buckle up and start researching to find out your customer needs. This can help you elevate your business to the next level very easily.

How to Reduce Business Running Costs

It is important for small businesses to look for ways to reduce overhead costs so as to increase their profits. It is also important to reduce costs without compromising on the quality of goods and services that are offered. The only option that you have is to redistribute company resources after understanding what you don’t need and need for your business brand building.

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Here are a few ways you can follow to reduce overhead costs.

Keep track of where your money goes:
Easy as it sounds, it is not such an easy task to understand how and where the money is spent, especially in the growing stage. However, there are a few things can be tracked. For example, you have to make sure you are well-stocked, but not over-stocked. Purchasing items in bulk is good for getting a good discount, but the storage costs and unexpected changes in the market can leave you looted.

Outsource to save money:
Outsourcing your requirements for services like IT, accounting and marketing can help you save some money. However, you have to choose the best services at the most competitive rates. Outsourcing your tasks in the initial stages is a cost effective task.

Hire employees intelligently:
Paying your employees is going to be one of the major entries in your budget calculations. So, you have to make sure that you hire the right people to build your business. Training your employees will also ensure you that you have the best people working for you. Remember that you are running a business and don’t be afraid to terminate anyone who is not performing well.

Go environment-friendly:
You can also make some savings by going environment friendly. There are several ways like going paperless to installing energy saving lights for reducing running costs.

Reducing overhead costs should be an ongoing process. Regularly check all your business expenses and you will be happy to see the considerable amount of money that you are saving each time.

Tips to start your business

Today’s volatile economy makes it important for small start-up businesses and entrepreneurs to find out ways to reduce business overhead costs. Cutting expenses is the easiest way to increase your profits from a business.

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However, it is very difficult to cut costs without compromising on the efficiency your goods and services. It has also been noted that most of the new businesses that are being started today do not survive over a period of more than two years.

To avoid the most common mistakes that are being made by new businesses, you have to first understand the reasons why such ventures usually fail. Here is a briefing of the most common pitfalls of new businesses and about how to avoid them.

No adequate research

When you have an idea for a business, the first thing you have to do is study the market for your product or service. You have to find out if you and your product has a place in the market, both in terms of customers and competitors. Venturing into an area with lots of strong competitors could be very risky. Also, bringing out a service or product that is not very acceptable to customers will also not work well.

No start-up capital

You have to have enough money in hand to run the business for the first few months expecting no profit at all. Invest your capital in the most important resources and be careful not to be wasteful. For example, in most cases, you might not need a fully-fledged office space and lots of employees when you are starting your business. Begin with virtual office solutions and then expand when you start getting profits from the venture.

No Planning

Devise a proper business plan. No matter the size of your business, you must make a good business plan which will be your guide to running the business. Detail out all your business goals and lay out a reasonable financial budget. Consider and note down all the marketing strategies that you can think of as well.

With these precautions in mind, you can most of the time save your business from drowning. However, you see that your business has started sinking, then you have to take the steps to stop the rot.

• Review your business plan again: When you start feeling that things are not moving as per planned, don’t ignore it. Make sure you review your plans and look into how you can overcome the crisis right from the earliest stages.

• Get help with secure funding: If lack of money is the only thing that is killing your business, then speak to reputed banks and avail a loan for your business. Finding a business partner who can share the costs is also a good idea.

• Reduce your expenses and avoid debt: You have to check every possibility to reduce running costs without compromising on your service or product quality. Using virtual office solutions instead of real office space could be one of the easiest ways to reduce business costs. Reducing staff is also an option.

• Call it quits when you feel things are not working: When you feel your business is on the slow track and facing continual failures, call it quits. Don’t try to run a business on debts only. This could affect your life on the whole.

• Ask for help: There are so many successful entrepreneurs and businessmen around. Ask for advice and listen to what they have to say. Most of them would be happy to help.

Running a business could be really difficult especially in its initial years. Learn to identify the common mistakes and follow tips to avoid them to achieve success in your business.