By Debbie Gregory.

Using social media for business is not the same as using it personally. One insensitive post has the potential to ruin your business with negative coverage and a public backlash.

These are some of most common and damaging business social media mistakes:

Never build an audience that does not fit your ideal customer:

Your social media efforts should be focused on targeting your ideal customer and not those that don’t fit that profile.  Those managing your social campaigns must have a clear understanding of who is your ideal customer.  They need to execute a strategy that will appeal to and attract this specific group. Do not sacrifice your company’s overall marketing strategy for a few likes or shares from the wrong people. Doing so, will not generate revenues for your company and can generally harm to your reputation.

Never let an intern or consultant have free reign over your accounts:

As an established business, you have already spent time building your brand, your message and the proper tone for all your business marketing. Do not allow a temp ruin all your hard work with a bad post or poor idea. If you cannot handle your social media in-house, make sure that whomever you hire, has very specific guidelines on how to post for your business. Additionally, it is a good idea to make sure that you are the administrator and manager of all of your accounts.

Never delete bad reviews or complaints:

It doesn’t matter if the review or complaint is unfair, you do not want to remove it. Hiding negative feedback makes your company look like it is hiding something larger. Instead, use complaints as an opportunity to publicly fix problems. Just make sure that you are respectful and kind in your responses. Negative feedback coupled with a positive public response from your company can actually benefit your business.

Never ever argue or attack:

Complaints do happen.  Customers are occasionally unfulfilled by your offerings, or a customer can simply be having a bad day and your company ends as their target.  Do not under any circumstances publicly argue with or attack a customer. If you need to have a full discussion with an upset customer, always provide them a contact number or email address so that you can resolve the issue privately.

Never let pre-scheduled posts continue after a crisis:

This makes your company appear extremely insensitive. Cancel or postpone posts until a respectable amount of time has passed.

Never neglect the “voice” your company has carefully cultivated:

Your company’s online personality has been carefully crafted.   After you identify your ideal customer base, make sure your message appeals directly to them. Make sure that your posts will engage the right people with the right voice and message.

Never limit your posts to just promotional content:

You are a business and you are looking to sell something. Everyone knows that. Everyone is constantly bombarded with marketing messages that can become very annoying.  Mix it up with posts that are fun or more personal making sure they fit your company’s brand and ideal customer.

Never forget the purpose of the platform:

Social media is called SOCIAL for a reason. Ask questions, solicit feedback, and make sure to answer questions and comments directed to your company.

Never misuse a hashtag or meme:

Using trending hashtags is a great plan but only if these hashtags relate to your business. Don’t use trending hashtags or popular memes to attempt to insert yourself into a discussion that has nothing to do with your company.

Social media is a fantastic tool for building and interacting with a loyal customer base. It also helps your company stay relevant in today’s fast changing consumer landscape. However, the wrong moves can significantly damage your business and brand.  Do not allow these social media fails to create liability for your business when the right kind of meaningful social interaction is easy to do and offers real benefits for your business.

By Debbie Gregory.

Some of the most important decisions that a  Veteran Small Business Owner can make are whether or not to bring in a business partner and who is the right partner?  You want to find someone who shares your vision and focus.   Additionally, someone you are in sync with and can grow the business.  Your business partner also must be someone who you can depend upon and who will carry their part of the workload.

Choosing a business partner is like getting married and you must be as discriminating as when choosing a life partner and/or spouse.If you want your business to grow and be successful, you must choose the right partner and choosing the wrong one can spell disaster. Remember that it must be someone who will be in it for the long haul because the path from turning a business idea into a viable business is a long journey.

Below are a few good questions when interviewing a partner to determine if he or she is the right fit for you and your business:

Do We Have a Personality Match?

Chemistry between you and your business partner is essential along with being compatible.  Make no mistake, this is one of the most important relationships in your life.  This relationship will determine your security and your day to day satisfaction in reaching your goals.  You must make a connection to be part of successful team.   You need to be able to to work together in both good and difficult times.   You need to be able to solve problems and  overcome challenges.  You need someone who can acknowledge when they make mistakes, take responsibility and be willing to fix them.  You also will be working together for many years so you should select someone that you will enjoy working with and respect over the long haul.

Does He or She Complement You?

A good team is composed of players who complement each other with different talents, strengths and weaknesses.   Your partner should be someone who will bring some of the skills and talents you lack and balance what your business can offer.   If you are technical but not great with people, choose a partner with strong people skills.  If you are a numbers person then find someone who can look beyond the numbers.  Business partners should complement each other.

Does He or She Share My Passion?

There are a boatload of challenges in running a business.  You need time and money and a lot of work.   There will constantly be problems to solve and you will need to protect your business too.  What drives you is your passion and energy.  This is what moves you forward especially during difficult times.

Your partner must share the same passions and drive.   Shared enthusiasm is the fuel of ambition and success.   Ask your potential partner(s) what motivates them about your business idea,   Ask them where they see things one year, five years and ten years down the road.  Learn what they are looking for in working with you.  They should share your fire and passion for what you are doing.

Will He or She Be Able to Challenge Me When I am Wrong?

In real life and in business, no one is right all of the time and we all make mistakes.  You might come up with a poor idea or a direction that will not work for your business.  We all have blind spots and they can be highly detrimental to your business.   You must select a partner who will speak up and challenge you when he or she believes you are wrong.   They must be comfortable in their own skin and ideas and be able to speak up for the good of your business.

How Much Will He or She Give to the Business?

You must choose someone who will put in the work so that there is an equal division.  You need a partner who can and will contribute ideas, time, contacts, resources, capital, passion and energy.  Someone who gives fully of themselves because they share your dream of success.  You want a partner who is “hands on” so your success will be a mutual one.

At the end of the day even if he or she hits all the boxes and answers all your questions perfectly, take the time to check references.

By Debbie Gregory.

All small business owners have attempted to take a vacation that is inevitably interrupted with yet another crisis at work. You are currently on vacation and you are supposed to be relaxing and having a good time. Your phone won’t stop, your emails keep flowing in and instead of relaxing, you are furiously typing and scrolling away on your laptop.

It is easy to fall into the trap of working while on vacation. Most business owners never fully unplug from the office while supposedly vacationing. While this sounds like a good plan, you are unfortunately setting yourself up for more stress, anxiety, and total burnout.  Additionally, people who do not take at least one 1-week vacation a year are 30% more likely to have a heart attack and this number increases dramatically for women. So do yourself and your overall health a favor, and take a real vacation!

So, how do you truly let work handle itself for a while as you get some much needed R&R?

Setup a vacation plan:

Once you have selected your getaway, make sure that you work wit your team to be able to handle business while you are away.

• Delegate tasks
• Create backup plans
• Make your communication boundaries clear
• Make your availability clear
• Make sure each employee knows what is expected of them
• Empower your staff to handle problems should they arise

Setup a return plan:

You know that your first day back into the office will be a nightmare game of catching up. Your inbox will be full and your to-do list will be long. Take the time to pre-organize and prioritize what you will need to do once you return to work.

Use the three Ds – Delete, Delegate, and Deal.

• Delete everything your team is already managing.
• Delegate what you can have someone else handle.
• Deal with what you need to take care of.

Setup a schedule:

If you absolutely must check in with your business, establish a daily and timed routine for checking in and stick to it. Deviating from your schedule, can lead you down the rabbit hole of emails, calls, and other work issues.

Only respond to real emergencies:

Not every situation requires your response. Make sure that you only engage if you absolutely have to.

Taking a true vacation can seem impossible for a small business owner.  With some careful planning and a bit of letting go, you can finally get the rest and relaxation that you desperately need. Now Unwind, relax and enjoy!

By Debbie Gregory.

At some point most businesses need to borrow money. Choosing the wrong type of loan can do irreparable damage to your business’s bottom line. There are countless financing options out there and the key is to choose the right one that fits your business needs and your ability to pay back the loan.

Choosing the wrong option can translate into less short-term on-hand cash for your business to spend.  It can also mean smaller overall profits as you pay down the loan, and a longer and more stressful search for your loan in the first place.

In order to select the correct option for your needs, you should make sure you avoid these mistakes:

1.) Not knowing your credit score:

Your personal credit is always a factor when applying for a business loan. It shows your creditworthiness and your ability to pay the loan off to the lender. A score of 700 or higher is considered good for a personal score.

These are credit reporting services where you can check your personal credit score:

• Equifax (https://www.equifax.com/personal/)
• Experian (https://www.experian.com/)
• TransUnion (https://www.transunion.com/)

These are credit reporting services where you can check your business credit score:

• Dun & Bradstreet (https://www.dnb.com/)
• Equifax (https://www.equifax.com/business/)
• Experian (https://www.experian.com/small-business/services.jsp)

2.) Not doing your research:

It always pays to be prepared for the worst. Do not until you and your business is in dire need of cash to start the process of researching lenders and applying for loans. Do your research well in advance and keep a list of credible lenders on hand just in case you find that you need one.

3.) Not knowing your options:

Rates, fees, and terms for financing can vary greatly depending on where you go to obtain a loan and even the time of year you do it in. Make sure to do your due diligence and thoroughly research the options you are presented with.

4.) Not applying for enough money:

You never want to take out a loan only to find that you need another loan a few months later. Running a business comes with some uncertainty and unforeseen expenses that can pop up.   These may include new competition, equipment breakag, or employees quitting. Make sure that you are borrowing enough money to cover your immediate needs as well as anything unexpected that may come up.

5.) Not knowing your payment options:

Getting cash fast when your business is in a slump is very important, but you need to make sure that you will be able to pay the loan off once you are back on your feet. The payment schedule needs to fit with you and your business. If you cannot keep up with the payments, it can damage your credit and potentially lead to your business’s failure.

Getting the loan that you need shouldn’t be a stressful or scary experience. With proper planning and in-depth research you can be prepared for any possible disasters or downturn in your business. Taking out a loan is never something a business owner does lightly but done correctly it can add up to one result, a thriving business.

By Debbie Gregory.

Part 2 of 3

It is never easy to start a business.  It involves very careful planning, evaluation, and a money to begin. The mindset of the entrepreneur beginning the business is one of the most important parts.

There is not any test or certification out there that states you are prepared to become a business owner or that you will start and run a successful business. Your mindset determines how motivated, driven, happy, and focused you are on making your business successful. Education is always valuable, but it will not fully prepare you to become an entrepreneur.

How do you improve your mindset to be successful?

-Your Responsibilities: You need to know and accept that starting a running your own business is a 24/7 job and that is going to have a major impact on your personal life. You will need to make sure that you are ok with missing events, holidays, weekends, evenings, etc. while you get your business up and running. Find out who you can lean on to take up the slack in your personal responsibilities.

-Your Personality: To run a successful business you need to be i flexible, patient, and prepared for the completely unexpected. If you tend to become overly stressed and/or irritable at the drop of a hat, you will be challenged with the turbulent nature of running a business.

-Your Motivation: Even though you are the “boss” of your new business, you still have customers, partners, lenders, and investors to answer to and they are your focus and priority.

-Your Willingness to Work With Others & Your Management Skills: Regardless of the type of business you begin, you will need to work with many other people including customers, employees, vendors, suppliers, partners, lawyers, accountants, engineers, and others. You can find strength and success in those people.  Take the time and energy to develop your people skills and your relationships.

-Your Network: As the saying goes “It’s not what you know, but who you know.” Carefully cultivating a wide network of other entrepreneurs and professionals can help your business dramatically. Take the time to form relationships with successful people in like-minded businesses as well as differing business services – such as lawyers, lenders, influencers.

-Your Competitors: Knowing who your competition is and how they do business can help you determine what makes you different and how you will stand out. Use this information to build your brand and better your offerings.

-Your Relationship with Money:  Your financial management skills can make or break your business. If you spend money too freely, you will have cash flow problems with your business that can ultimately lead to closing. Make sure that you have the capital in place and you do not overspend.

-Your Scalability: Successful business owners simply cannot do everything on their own.   If your business cannot survive without your presence, you may need to rethink your business structure.

Working on yourself is the best way to ensure you are ready to run a business and make it successful.

Stay tuned for Part 3 – Online resources and tools to help you start your business and run it.