By James Pruitt, Senior Staff Writer

The race to innovate has propelled itself to center stage as technology has advanced. Companies need to constantly rebuild themselves to stay competitive. In other words, companies should deeply integrate forward-thinking mindsets into their cultures. So, what does this mean? 

Twenty-five years ago, a fleet of internet-capable computers could cost several thousand dollars each. Now, a small company can buy these computers in bulk for hundreds per workstation. But in today’s economy, Veteran Business Owners need to consider the cost-effectiveness of such an investment.

Consider the industry. These days, many tech-centered businesses may really need fast, up-to-date computers to simply get the day’s work done. Other companies may need to keep closer track of innovations in their own fields. Such companies may include restaurants, clothing manufacturers, and machine shops. Depending on their needs, such companies may even benefit from saving money on expensive computer equipment, while concentrating on the latest innovations in their own fields.

As a bottom line, companies in these times need to keep track of industry trends. In fact, to stay competitive, most companies need to integrate forward-looking mindsets into their company culture. Veteran Business Owners can implement the following mindsets in order to take their companies down this path:

1. Get Ready for Cross-Industry Partnerships

Vastly different companies sometimes have operations that complement each other. In many cases, one business may have discovered a new methodology that might benefit a separate one. Consider, for example, delivery methods. Maybe a business in one field has begun to use drones or self-driving cars. One company could even act as a supplier for the other, and hence vertically or horizontally integrate the operations of each. Finally, consider that businesses in different fields might not be in competition.  As a bottom line, remember the importance of networking for reaching the best outcomes for each party.

2. On a Similar Note, Never Forget the Power of Collaboration and Partnership

Competition can provide us with the drive to press forward. However, sometimes extreme rivalries between companies might prevent the spread of new ideas. Extreme competition may be toxic. It is true that the legal system enforces noncompete covenants and antitrust laws, and for good reason. However, Veteran Business Owners should trust themselves and each other to join forces in many cases where partnerships might benefit each. Your own method may work for you, but in some cases, teamwork with others in your industry may yield the best fruit.

3. Some Industries May Completely Disappear Or Even Morph to the Point Where They Are No Longer Recognizable

Remember the metaphor of the frog boiling so slowly in a pot that it doesn’t understand it’s being cooked? Business owners should keep in touch with trends in their field and understand when and why they need to innovate. Time flies, especially for busy people. Your field could gradually disappear absent a willingness to innovate. Even within many of our own lifetimes, at one point we had telegrams, then we had FedEx, then email. 

Successful companies see trends and innovations as they arise and adapt accordingly. Those who stick their heads in the ground may find themselves boiled alive as advancing new technologies eat away at their core business.

4. Remember the Importance of Social Responsibility for Public Image

These days, companies need to stay aligned with changing ethical sensibilities. Businesses that fail on this front risk finding themselves in a two-front war. Customers may abandon their products even as governments start regulating them. The combined social forces could spell doom for a small business, regardless of what short-term opportunities may come their way. For example, don’t expect many new tobacco companies any time soon. 

In conclusion, any business owner needs to stay “in touch” with the business environment surrounding them. New Veteran Business Owners most of all need to remain self-aware. The need for innovation can arise at any moment, so all of us need to contribute to company cultures that seep these forward-thinking concepts as deeply as possible into the souls of any new business.

Stay tuned for part two of this mini-series.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

The past few years have brought an intense transition in the face of new challenges, such as the Pandemic. These challenges have also brought opportunities for productivity in a wider range of contexts. The Pandemic didn’t create this new era of remote work. The events of the past few years simply hastened a trend that had been long in the making. 

We have seen new management challenges now that the physical workplace is no longer the default work setting. Trust has never mattered more. At the same time, individual responsibility has gained new importance. Countless shifts have occurred in a relatively brief period, which presents new challenges for business owners but may also provide management freedoms to direct their energies in new directions now that workers hold greater autonomy. 

Below are only a few ways to shift workplace culture to allow greater flexibility in these changing times.

1.Prepare for the New Era of Hybrid Workplaces

As we’ve discussed previously, remote work is here to stay. Employers should adapt their workplaces to accommodate those workers who, for whatever reason, might prefer to perform some of their tasks outside of the office. Fortunately, technology is now widespread, so the modern workplace should prepare for an online presence whenever possible.

2. Communicate With and Counsel Employees

One idea for improving communication may be the implementation of regular feedback sessions regardless of performance. Such a policy might ensure appropriate facetime while allowing both employees and management to raise any issues that need to be addressed. Managers should integrate these sessions into the workplace routine. A “call to the office” should not feel ominous for the worker. Regular, standardized feedback can do wonders for improving the channels of communication.

3. Find Appropriate Ways to Communicate for the Hybrid Era

The popularity of Zoom and similar forums provides boundless opportunities to expand the reach of new businesses. At this point, a business would be lax to ignore these innovations. These new forums afford flexibility that has become crucial for retaining good talent in many industries. 

4. Implement New Technologies

Remember, if you don’t keep up with the times, your competitors will. Small Veteran Owned Businesses should always stay in touch with any emerging trends. Recently, applications like Slack, Microsoft Teams, and Zoom have expanded at warp speed, but also stay in touch with the different technological offerings specific to your industry.

5. Maintain Flexibility

If there’s anything the past few years have taught us, it’s to expect the unexpected. A business’s bottom line should always account for the unknown. Whenever possible, businesses should prioritize in a fashion that minimizes the burdens on employees. Adjusting a company’s priorities helps employees stay motivated with the tasks at hand.

Remember, the Pandemic has permanently changed the business landscape, in many ways for the better. Businesses that don’t adapt may have a hard time competing in the new economy. The physical workplace is no longer by default the home base for a business’s operations. Hence, managers need to innovate to ensure the work gets done and gets done right. However, effective management does not preclude trust. In fact, trust is the basis for any solid business relationship.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

As we’ve gotten the COVID-19 pandemic more under control, we’ve noticed an acceleration of existing changes in business practices. In-house employment is still the norm, and we all still depend on brick-and-mortar stores. However, an escalating trend toward online ways of doing business has become more conspicuous.

Obviously, many businesses simply can’t go online. Imagine if Caterpillar decided to go completely remote when its business relies on producing construction vehicles. Furthermore, imagine life without the local thrift store. Finally, we’ll never forget the trials of the “essential workers” in our local grocery store during the Pandemic.

At the same time, most businesses these days do need some sort of online presence just to establish their legitimacy. Potential clients may not trust a company, even a home business, without an online footprint.

Business owners should always put themselves in their customers’ shoes. We’ve all grown dependent on the Internet and on our phones. That first Google search may give prospects their first taste of the services your company offers. Also, remember that customers expect more now than ever. Some guidelines for new Veteran Small Business Owners might include:

1. Assuming you have a website (which you should), make sure multiple channels are at your prospects’ disposal. Many small business owners don’t want an overwhelming amount of business. However, all small businesses do need a certain degree of marketing. 

These days, an Internet search often gives customers the first glimpse of your company’s offerings. Business owners should keep this in mind and consider a “multichannel” approach when possible. “Multichannel” involves multiple routes to contact representatives of your business, whether by phone, chat, or email.

2. Customers now a day are more demanding than ever. We all know the “Karen” phenomenon. Of course, most of these “Karens” (or “Chads”) have been totally out of line. However, most new small business owners often can’t afford the drama of talking back. It’s not fair, but best practice is insulating your business from these kinds of complaints before they occur. 

To stay on the safe side, business procedures should go the extra mile to ensure a seamless experience for the customer. Satisfying that demanding customer before an issue arises could save a lot of time, energy, and heartache, as well as lost business. Generally, the best approach is in fact to make sure your product is, for example, perfectly packaged, or that your advertising is absolutely consistent before your product or service enters the stream of commerce.

3. Empathize with the Customer and Remember the Importance of the “Customer Journey.”

Today, the small “corner store” is not behind us. Customer service matters, possibly now more than ever, especially as we emerge from the isolation of the Pandemic. In fact, you can see a revolution in small businesses, since the Internet allows business owners to cater to far more niche groups. 

From start to finish, your relationship with your clientele matters. Remember the importance of establishing a friendly relationship. Also, consider getting creative with novel promotions and marketing opportunities. Your company’s charisma should help draw your prospects down a pleasant ride through the “sales funnel.” Smaller companies often can’t afford to come off in the same ways as huge corporations.

In conclusion, a few closing thoughts: Remember these principles still apply to “business-to-business” relationships. Finally, remember that your online presence will show up differently on your phone than on a desktop, so make sure everything shows up effectively on mobile as well as on other media. 

Small Veteran Business Owners should never forget traditional customer relations practices. At the same time, entrepreneurs do need to respect the changes to the economy that have only accelerated over the past few years. The Pandemic (or the Internet) hasn’t changed who we are, but both have changed aspects of how we conduct business.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

The spark behind most small businesses transcends the profit motive. However, none of us can expect to make money while ignoring our clients. We all need to eat. At the same time, we also need fulfillment in our mission in life.

Let’s look at Elon Musk. He started his projects with the best intentions, then consistently found himself burned. Now, his projects have certainly amounted to a net positive for the good they’ve done in the world. At the same time, I think we could debate whether he’d do everything the same if given the chance for a do-over.

Few people go into a business enterprise with purely selfish motives. However, we rarely find companies with totally altruistic motives. We call those companies “nonprofits.”

A smaller company with a mission should find a community willing to share in its bounty. Perhaps this community may consist of “vegans.” Maybe “conservationists,” or maybe even “school board activists.” However, smaller companies should realistically balance their goals with their needs.

As one way to start, Veteran Small Business Owners should consider the causes they most care about. As a next step, consider your community, and what you may offer that community. Maybe you have gardening expertise. Maybe you can repair cars. You may have learned any number of trades during your time in the military. Never underestimate the power of your connections. Also never underestimate the power of your own convictions.

Involvement in the community can do wonders in expanding your business in the right direction. For example, the Danish firm Lego has teamed up with nonprofits to support Syrian and Burmese refugees. We all remember Legos not only from our own childhoods but also as we pick their detritus off the heels of our feet any time we walk around a child-centered household. Whoever came up with the idea for that toy was going somewhere.

Obviously, most of us are not Lego. However, smaller companies may use any of their own resources similarly. As the main point, smaller businesses, even home businesses, should use their offerings to reach out to their community. Brand loyalty itself can multiply your customer base. Maybe you have your own “Lego” idea that can engage your local community. 

Anything from your craftsmanship, your property, your trade skills, or even your good intentions may provide the seeds for a lucrative enterprise. One key word is “engagement.” Remember, your “goodwill” is marketable. Never underestimate the value of community connections. Also, never underestimate the value of time spent building these connections. Your own convictions and passions can launch your enterprise as much as any angel investor.

Smaller businesses often have products or services that may fit just right into the local economy. Rarely do small business owners reach the level of prominence of Elon Musk. However, good intentions do have value. In some cases, those good intentions may even propel a new business into prominence. New business owners should consider the resources they have and make the best use of anything they have to offer. 

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/

By James Pruitt, Senior Staff Writer

Businesses need to engage with customers in order to succeed. A good relationship requires demonstrated concern for the client’s well-being and satisfaction. 

1. Communicate with the customer in a manner they feel comfortable with.

Businesses should adapt to the communication preferences of their clientele. Many people find email time-saving because they can respond at their leisure. Others prefer texts because of the instant notification. Others prefer the familiarity of a phone call. Some who speak English as a second language feel more comfortable with a written message.

Additionally, not everyone uses Twitter, Ticktock, or Facebook, but assuming your clients do, why shouldn’t you? Proprietors and clients should sync with their clientele in the digital world as well as the real world.

2. When professional and practical, extend the relationship outside the business realm.

We’re talking about building friendships, or at least familiar customer relationships. Of course, we are excluding businesses that maintain professional boundaries, such as doctors and lawyers. However, owners of small shops, restaurants, and manufacturers have every reason to incorporate their personal relationships into their businesses. These kinds of relationships can help form a community of collegial, like-minded people who love your product or service. 

Here’s one funny strategy: Many companies recognize micro-holidays such as National Red-Apple Day, National Peanut Day, and World-Wide Volkswagen Beetle Day. Extra points if the holiday is relevant to your business!

Also, many companies make a small celebration out of the birthdays of customers and employees. A small card can go a long way in reminding your client of the importance of your practice. Even an internet celebration can soften hearts and create a familiar mood.

3. Product education can build a relationship

Especially with technical products, effective customer support can build rapport with the company. Different techy products may require different measures, depending on the industry. One example may be sponsorship of training classes for your product, if practical. As another option, a launching event for a new product may provide another option to build a community of loyal customers. Make it a party!

4. Find small ways to go above expectations

As we’ve said before on this blog, if you have extra inventory that you absolutely can’t get rid of, give it away for free. You may or may not want to give a birthday scene for the birthday boy or girl at a restaurant. But a more discrete strategy to make a connection may be a small birthday deal or gift. Polite, discrete ways to make customers feel special never hurt anyone and will increase your popularity with your customers.

Overall, whenever possible, always try to go above expectations when the opportunity arises. Maybe during a slow time, going the extra mile with a service or product just may keep the customer coming back. These measures are important not only to increase revenue but even to provide further online reviews.

5. Conclusion

Never forget the importance of a community of loyal customers to boost your brand. Only customer satisfaction can build your business to capacity. Even with the best conceivable product or service, only good marketing can build success for a veteran entrepreneur. Remember these maxims from this blog and those to follow.

VAMBOA, the Veterans and Military Business Owners Association hope that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go-to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/