Increase the Value of Meetings with Four Tech-Driven Tips

increase the value of meetings

How to increase the value of meetings, conceptually, is a difficult beast to tame. Too many meetings lead to lower productivity due to the level of distractions. Too few meetings… also lead to lower productivity due to employees having low information on their actual tasks.

And between all of that, there are issues that unexpectedly arise from the quality of the meetings themselves. The very structure of a meeting can lead to inefficient results, causing confusion or eating up working hours with a focus on topics that aren’t actually helping anyone improve material results of the task at hand.

Simply put, an effort to increase the value of meetings is one of the most difficult skill sets to perfect, regardless of the type of business at hand. With that in mind, here are four essential tips geared towards generating a positive ROI on any new equipment needed to increase the value of meetings:

  1. Rely on simple, accessible technology to keep the focus on communication over IT. 

With the myriad options available, it’s easy to fall into the trap of meetings relying on too many technological variables with the potential to cause issues. Focus on meetings that facilitate simple, broadly compatible technologies, such as projectors that easily serve content from personal devices. When presenters only have to connect a familiar device through HDMI, time-consuming troubleshooting disappears.

2. Schedule video meetings whenever appropriate. 

Even within the same building, it’s often a boon to be able to quickly meet and exchange ideas or issue instructions without the logistics of going to a physical meeting space.  Getting in the habit of video conferencing makes it easier to build meetings where even a single participant who is off-site can be brought in at a whim, seamlessly.

3. Craft an immersive meeting experience. 

Attentiveness is the currency of meetings. It’s incredibly easy to reflexively go through the motions of a meeting, especially for experienced employees. Keep attendees engaged by cutting down on downtime, setting a structure that asks for input from everyone present at a consistent pace, and always ends with a strong call to action that succinctly rephrases exactly what needs to be done going forward.

4. Leverage software to book and schedule meetings. 

A major roadblock for meetings, especially in corporate settings, is the deceptively complex process of booking and scheduling. Avoid this by standardizing an RSVP system, so each attendee receives an invite they are meant to respond to. This cuts down on unexpected absences and blocks out exactly how much time away from the regular working day is required for the meeting in question.

Following these simple tips, you’ll be well on the path to increase the value of meetings. Contact us today for more business advice on how to keep your business running profitably.

Business Growth Tips to Scale Your Business Successfully

How to Scale Your Business Portal CFO Photo

Growing an existing business over time requires more than just doing what works over and over again. No matter what you sell or provide to your customers or clients, if you want to scale your business successfully, you need to identify pathways to expand into new markets.

There are only so many consumers who want to buy your widgets or hire you to perform a certain service. While the internet expands many companies’ reach to the global marketplace, doing the same thing repeatedly usually nets you the same results.

How can you scale your business successfully in the most economical way possible?

1 – Identify Other Things Existing Customers Want

If your small business sells customized dog collars, it stands to reason that the people who buy them might want harnesses and leashes as well. Offering products or services closely aligned with existing ones helps to fuel business growth in a safe and affordable way. With more time-sensitive product lines, such as software or medical equipment, sticking with one offer could mean failure.

2 – Determine How to Satisfy a New Customer Base

Another option is to offer existing products or services to an additional targeted group. Dog training schools and kennels may want your colorful harnesses and leashes as much as pet owners. Learn to identify potential expansion possibilities with growth expert help.

3 – Know Where Your Industry is Heading

Spend time studying your industry to keep up with new product or service opportunities and also buying trends and customer opinions. Economical business growth means no wasted time, money, or attention. Competitor experiences may help you tweak your own efforts.  Small and medium-sized businesses may not want to take over the world, but scaling up for more success always improves your position in the marketplace.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.

Why Customer Loyalty Is More Important than Customer Acquisition

why customer loyalty is more important than customer acquisition

If you’re looking to grow your business profitably and for the long term, what’s the most important strategy to focus on? The answer might surprise you. Contrary to what many entrepreneurs think, customer loyalty and retention are far more valuable to a small- or medium-sized business than new customer acquisition.

Customer acquisition is expensive. Obviously, it’s important to spend some effort on acquiring new customers, especially when you first launch a business.

But customer retention should always be a priority, and be part of your business strategy. By focusing on customer loyalty, your business gains two advantages. The first is that happy, loyal customers are repeat customers—you don’t have to put nearly as much money into attracting new customers, if you can keep existing clients coming back. Second, loyal customers are more likely to become brand advocates for your business. They are more likely to refer their friends, family, and acquaintances to your company.

Again, that’s money you don’t have to spend on customer acquisition: your previous customers are doing your marketing for you. It’s a compound effect. Current customers will keep coming back to do business with you, and will refer new clients to you as well.

How to Build Customer Loyalty

So, how can you build a pool of loyal, repeat customers? This is one of those times where you have the upper hand as a small business. Quite simply, it makes people feel good to support small business. Plus, you have more freedom to build real connections with clients, establish trust, and ensure that clients are satisfied with your goods or services. You’re not constrained by the internal processes and bureaucracy rampant in large firms—you can spend more time and effort ensuring that every customer has a fantastic experience with your business.

That’s really what customer loyalty boils down to: setting a strong foundation of trust and exceptional service with customers. And because most people are used to purchasing from (or working with) large, impersonal corporations, the slightest personal touch will make your business really stand out.

Build on customers’ good first impressions by staying connected. If you’re a small florist, don’t let your relationship with a newlywed couple end after you arrange the flowers for their wedding: send them a happy anniversary letter a year later. (Bonus points if you send it just before their anniversary, so one of them has time to buy flowers from you again in celebration of the occasion.) It’s all about staying top-of-mind, without being intrusive or annoying.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more ways to grow your small business profitably, please check out our website www.portalcfo.com.

Tips for Growing Your Small Business Profitably

how to grow your business profitably

The desire of most small and medium-sized business owners is to get to the point where they are growing their business profitably. The challenge is that competition from huge businesses may hinder the prosperity of small enterprises. But this does not imply that achieving success as a small entrepreneur is impossible.

If you want to grow your business, you should adopt and implement the right business strategies. Here are some of the approaches you can consider implementing that can help you when it comes to growing your business profitably.

Embrace Innovation

Many customers will often go shopping with the intention of finding out what is new in the market, and if you want to capture their attention, you should consider offering quality products or services at the right price. Embracing innovation earns your brand a good reputation from clients, and it will also set it apart from the competition.

Innovative business operators exceed the expectations of most customers because they offer something beyond the ordinary and that gives every buyer value for their money.

Consider Diversification

A precise analysis of your established market may reveal other needs that relate closely to what you are offering or market segments with several similarities with the product or services you are selling.

Leveraging market segments with similar characteristics to what you are offering by making them another source of income for your business is an excellent way of diversifying your products or services, which will promote growth.

Prioritize Excellent Customer Service

Small business owners who offer substandard services lose most of their customers to competitors, which diminishes the potential of growing their operations profitably. Offering exemplary customer service is not an option if you want to achieve success as a small business owner.

The advantage of offering your customers excellent customer service is that it will not only delight them, but it will also encourage such clients to refer others to you, and that will result in the growth of your enterprise.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.