How to Introduce New Products and Services

When developing new ideas, services or products for your business, it can be hard when you have so many different ideas whirling around in your head! Introducing something new to your business is an investment – one that requires an organized plan if you want the launch to be successful.

There is always the possibility of the launch being unsuccessful, but you can minimize that potential risk by asking yourself the following questions:

 

  • Will this improve your overall current business performance?
  • Can this improve the lives of your current existing customers?
  • Does this fit your current business plan and strengths?
  • Is this going to benefit your long-term goals?

 

Host a brainstorming session with your team to develop new ideas and strategies or take the time to survey your current existing customers. Always remember to keep up with trends going on in your industry and scope out the competition.

 

Once you have your new product, service or idea – it’s time to evaluate. Be sure to take into consideration that if once this idea launches and it takes off fast, can you handle the fast growth and can you meet a sudden increased demand? If you’ve answered no to either of those questions, delay your launch date until you answer yes.

 

Test the product or service out again so that it’s continuously giving consistent results. You can work out any of the kinks later, but it must work well enough so that your customers won’t get angry. Then, it’s time to prepare for the launch. Which typically will involve conducting research on the main competitors, identifying the target market and developing your marketing strategy.

 

Think you’re done? Nope, now it’s time to PROMOTE, PROMOTE, PROMOTE! Start getting people talking about your product through a rolling launch, promote sneak peaks of your product a few weeks early leading up to the launch date. If you have loyal customers, offer them an exclusive preview or test run of the product. Send out an email newsletter or post on your social media platforms about contests and giveaways to help market your product.

 

After all of this, be sure to pay attention to reviews on and offline. Figure out how your customers are using your product or service, what they like/dislike about it, any improvement areas, etc. You might be surprised by seeing a customer use the product or service differently then you had originally imagined. Embrace this and just update your marketing strategy to go with it.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

Digital Marketing: Unhealthy Habits

Digital marketing is everywhere and used by almost everyone. Being successful at digital marketing doesn’t necessarily come from what you’ve learned. You can become successful by learning how to stop doing the things that are negatively impacting your goals and overall vision. Stopping these bad habits can be hard at first, and it’ll require you to move away from impulsive/unconscious behaviours and start to understand where you can take control of your actions and future.

 

To become an innovative leader in the digital marketing world, start here:

 

Rejection Isn’t Failure

Learn to take control of your thinking process, no one wants to hear rejection but it happens from time to time. It doesn’t always mean you’re a failure, it simply just means that you need to take the feedback you were given and put a little more work into it or the solution just isn’t the right fit at that time. Rather than focusing on what went wrong, use that information to make your next move to achieve your goals.

 

Don’t Pay for Attention

Digital marketing gives you the opportunity to skip over traditional media and reach your target audience on a more personal level. Just be creative and you won’t need to pay. If you don’t know where to start? Start with the basics l social media marketing and working on your SEO!

 

Stand Out

Whether it’s business or personal, we live in a competitive and globalized society. We do everything to try and differentiate ourselves from the competition and to try and make ourselves as uniquely different as possible to gain our consumers attention. Focus on aligning your business with your true self, once you are fully comfortable with yourself then you won’t need others to give you your approval.

 

Embrace Failure

Learning how to re-teach your brain to accept appropriate risks isn’t an easy task to do. But once you’ve successfully managed to accept appropriate risks and can conquer your fears could mean the difference between a quick freelancer gig and an entrepreneurial one.

 

Having the ability and mindset to work through and recover from setbacks, relapses and obstacles – is what will make your business goals much easier to accomplish.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

Slack vs Microsoft Teams: Which Do You Prefer?

 

Move over Slack, there’s a new kid in town. Most of you probably know already, Microsoft Teams is now available for Office 365 users. Both tools enable businesses and teams to chat in groups or one-on-one and also allows to send files, either on your phone or on your desktop. These collaborative tools have been designed to allow businesses communication ideas and goals, allowing their employees to share information to the entire group or someone individually. But, Microsoft Teams benefits from its connection to all of Microsoft’s productivity tools.

 

While both of these collaborative tools feel and look very similar, once you’ve worked with both of them – you’ll learn that they really aren’t that similar.

 

Slack

Slack to some, can be seen as the iMessage of business collaboration. Its overall growth has been nothing short of phenomenal. The application is easy to use, features excellent suite of mobile and desktop versions and includes a varied color scheme, making the tool easy to navigate.

By paying more, you’ll have access to more advanced features. If you’re looking for something basic, free and to integrate with multiple third-party applications, then you may want to go with Slack for your business.

 

Microsoft Teams

Microsoft teams allows its users to access all of the Office 365 tools – Word, Excel, PowerPoint, Meetings, Notes, Planner, SharePoint, OneNote, etc. – without having to actually leave the application itself. With this, it allows your team to edit, create or view any Microsoft application.

If you’re a HootSuite user, you can connect and have access to it directly within the Teams app – along with many other third-party business tools. This function alone, allows you to delegate and communicate to your employees and external consultants, post content to social media and answer customer service requests – all without leaving the app!

 

If you’re a small business with limited revenue, consider trying out Slack as it’s cheaper than Office 365 and has the option of add-on applications and tools that will provide you with additional features and functions when needed. Larger businesses, would benefit more by using Microsoft Teams – especially if you already own Office 365. Teams was designed for businesses specifically and features the applications and tools that would overall benefit a larger business greatly.

 

Now tell us, which do you prefer?

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

Small Businesses: Avoid These Marketing Mistakes

Knowing when and how to invest in marketing for our business may be the key ingredient to your businesses’ success. Here are some common marketing mistakes that every business makes and how you can avoid them!

 

“Me” to “They”

One of the most common marketing mistakes is when business owners haven’t made the transition from “me” to “they.” Many small business owners start their businesses either because they are passionate about something or because they had a specific problem and found a solution that worked for them. You need to focus on providing products and services for your audience. So instead of thinking about what you want and what you want to promote, instead start thinking about what your audience wants and needs.

 

That’s Not Your Market

Sometimes business owners insist on going after a “broad” audience, when it’s just the wrong market. Whether they’re trying to sell equipment that’s worth thousands of dollars and going after clients that don’t have that kind of budget, or they’ve created something that would work with one type of market but insist on trying to sell to another as well. Business owners need to align their intentions and marketing with the correct marketing approach. Or else they’re going to keep spinning their wheels and losing money.

 

Putting Money Where They Shouldn’t

It’s no secret, a lot of marketing takes money, therefore it’s in your best interest to determine when to spend it and to make sure it’s on the right things. Whether you’re spending money on things you aren’t ready for yet or spending money without knowing how to properly measure the ROI. Instead, maybe spend those dollars on classes that can teach you things like how to use a website for sales and marketing.

 

Not Spending Money at All

Trying not to spend money on a business is a huge mistake. It can be scary to invest money yes, but you need to do it. There’s no way around this. Investing money isn’t the problem, investing in the wrong things is.

 

Even though there are plenty other marketing mistakes and there common, they are also avoidable.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

 

Is Your Business’s Online Security at Risk?

One of your main priorities as a business owner needs to be your online security. If you don’t believe that your business could be a target for cyber-crime or cyber-attacks, think again. Statistics show 43% of cyber-attacks are focused on small businesses.*  Your business could lose assets, private information, lose revenue and develop an untrustworthy reputation – or you could go out of business. Knowing how you may be putting your business at risk could potentially save everything. But where should you start?

 

Employees

If you have careless or uninformed employees, this could be the main cause of security incidents or data breaches. Making sure that all of your employees, including yourself, are educated and trained on cybersecurity and cyber-attack basics. Closely monitor, control and manage all privileged credentials to stop any exploitation from happening. If an employee is let go, be sure that you terminate their accounts so they can no longer access inside your business networks.

 

Electronic Invoices

If you email your clients invoices, a hacker could easily intercept that email and alter the information so that instead of you being paid, the money is deposited into their account. So before sending an invoice, be sure to confirm that the client is legit and that you aren’t being scammed.  The security measures you take when sending information via email should be two-factor authentication and encryptions.

 

Personal vs. Work

Always remember to keep your personal devices and your work devices separate. Make sure you have dedicated accounts for your email and social media platforms for both professional and personal. If you keep private work information on your personal device and accidentally leave it somewhere, that data is now in jeopardy.

 

Third Party’s

Before you work with any third party provider, do your research and confirm that they’re reputable and know what they’re doing.  Verify that they use the best security practices and that they require unique credentials for each and every user.

 

Be sure the visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

 * “43% of Cyber Attacks Target Small Business”

Accounting Tips Business Owners Should Know

Accounting is often overlooked. Even if finance isn’t your strong suit, it’s absolutely necessary that you have basic accounting knowledge down pact so that you can keep your small business afloat when times get tough.  Starting a business requires diligence.

 

Payment Rewards and Incentives

Online and in-store payments be sure to mark-up your products slightly above your ideal margins so that you are able to offer discounts. Your customers will love getting more bang for their buck that way! When sending invoices to your clients, whether it’s digitally or on paper, you should offer some sort of incentive if they pay early. As long as you’re strategic with your incentives and discounts, it will surely boost your income margin rather than lose it.

 

Cash Reserve

Always have a contingency plan. A suggestion would be to have at least 4-6 months of runway cash on hands at all times. Every quarter you should be checking your reserves so that you know you can keep going for 6 more months. If you aren’t already doing this, I suggest you start now.

 

Delegate

Some business owners just aren’t meant to handle their own accounting. That still doesn’t mean you shouldn’t know the basics, but it may be best for both you and your business to hire or delegate this task to someone to handle your everyday finances.

 

Options

In almost every start-up life cycle, you’ll need to raise money some how and timing is everything. But when is the time right? Instead of looking angel investors or tradition venture capital that could take months, explore financing options. Always explore every option possible and do your research so your business never becomes stagnant.

 

As a small business owner, you carry the weight of your entire business on your shoulders. Your businesses financial health and stability is one of the main factors. Use these tips to better position you and your business for the path of success.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

Page 1 of 2212345...1020...Last »