Archive for the ‘Business’ Category

Invoice Essentials You MUST Know

Friday, September 2nd, 2016

 Invoice

 

 

 

 

 

 

 

WHAT IS AN INVOICE?

An invoice is the legal financial slip or document that is mostly used to keep record of transaction within a company. It is crafted using company’s name, color and logo to be consistent with other branding. It contains list of information such as code, name, date, amount etc.

Every company generates an invoice for protection purposes of both parties. For the growth of your business you need to send an invoice to your costumers to get paid on time. On the other hand it gives an impression on your costumers that you are keeping record of everything and you can get back to them at anytime. It is is a firm proof or evidence of any transaction.

Care should be taken while generating an invoice. The order and detail of information about costumer’s purchase should be taken into account; it should also contain these 3 essential points:

1) Complete product/service details:

How to know that you paid the right amount for what you ordered?

Let’s say your invoice doesn’t give complete information about your purchase and the invoiced amount is double the amount you expected. Would you trust that company to send you more product?

Complete information and details are necessary to be included in the invoice. It is important to cover everything so it doesn’t cause confusion for your customers. On a good invoice, all the goods/products are clearly and individually mentioned on it with the corresponding cost and amount.

2) Order or service delivery time:

The date/time is very important to be mentioned because it determines how long a costumer has to wait for the delivery of a service or order. An exact date and time of invoice keep record  when the invoice was generated or the time and the date of delivery. It ensures that costumers received his order at specified time.

3) A direct number in case of help:

An immediate contact number is provided at the end of invoice for the costumers if they are not satisfied with the product or if they have any query related to it. It shouldn’t necessarily be your company’s main phone line number but it should specifically be of an employee dealing with such queries.

Do keep in mind that satisfaction of your costumers is extremely important for business. You have to set up and maintain the reputation of your company! So it should not be compromised.

Our software creates beautiful, automated invoices for your business.
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Why you need to identify your customers NOW

Friday, September 2nd, 2016

Valuable-Customers

 

 

 

 

 

 

It’s easier to love a brand when the brand loves you back. – Seth Godin

Successful businesses are those who identify their valuable customers, build strong, long-term relations with them, and follow through with them properly. The more you know about your customers, the easier it becomes to have the opportunity to sell them new promotions and offers. Identifying those who are best fit for your business priorities will give you a clear picture of your most valuable customers.

This blog outlines that how you should identify your most valuable customers and how to attract new customers by providing value-added services to the on-board customers.

Customers Persona

Customer’s persona is the illustration of your ideal valuable customers with their demographic data and psychological motivations; basically, a complete profile of the person. It helps you to understand the needs, behavior, concerns, likes, dislikes, preferences and expectations of the customer. After which you can tailor your messages, content and services to their specific interests.

Profiling your customers will give you an idea that how to make new valuable customers with similar profiles.

Type of Customer

How big is their operation?

What is his industry about?

For whom does he work for?

Sorting out the type of the customer is important. Type will vary according to the profile of the customer. Customer can be an individual, a group, a new startup, a small enterprise or maybe a big one. Specifying the type will let you more organized and prepared about the demands and expectations of your valuable customers.

Detailed Feedback

You should try to figure out what they think about your product and services. It’s worth getting a feedback from them on regular basis. By obtaining their reviews you can get an idea that how to improve your existing product and how to come up with your next product which can appeal them. James Cash Penney says

“The well-satisfied customer will bring the repeat sale that counts.”

User feedback and reviews can increase conversions. They can remove doubts your other potential valuable customers may have about your product and guide in making a selection among your products as customers believe other customers more than the sales or marketing reps.

Helping Return Benefits

Customers don’t expect you to be perfect. They DO expect you to fix things when they go wrong. – Donald Porter

It’s not enough that you sold your item and the business is done. You have to make sure that your product is functioning right after the purchase. If they are still not satisfied, replacing it with a new one may remove their doubts. Be always ready to help your customers and to resolve their issues immediately. Do more than what is required of you and your customers will feel valuable and will come to you again and again.

The Importance of a Strong Mission Statement

Friday, September 2nd, 2016
mi

“Outstanding people have one thing in common: An absolute sense of mission.” Zig Ziglar

Your mission statement is a one sentence that tells the world what is exactly in the core of the company. Remember it’s about “What you exactly do”, and it’s NOT about, “How you do it”.

Tell the world the reason of your existence let them know the reason behind what you do your values and aspirations, a clear expression of your mission is necessary.

Your team looks at your mission statement as a guideline for Business strategy and long term planning to accomplish your goals.

People don’t trust companies; they trust people.”― Stan Slap

For example: Google’s mission statement is, “to organize the world’s information and make it universally accessible and useful.”

In this clause, Google is not talking about search, or maps, or Gmail, they are talking about what exactly they want to do, and other things are tools what they have created to get to what they want to do.

The primary things that should be included in your mission statement are

  1. Who are you?
  2. What is your plan?

Answering these two questions provides an ample overview as to why are you establishing this enterprise. In your mission statement you can also give a strong differentiation from similar companies. Through the tangible facts of your vision and principles, you can give a better idea of your identity.

4 ways your mission statement effects internal organization:

1-Operation Strategy

Your mission statement has a long-term effect to define and develop the firm’s key operations. There is a high-concept of compatibility between company resources and its business strategy. You need to address questions on how you will configure resources to achieve the corporation’s business objectives.  These long term decisions are in relevance with your location, Volume, Procedures, Timing and Technology.

2-Dedicated Team

Let me tell you a secret: your team is the dynamic key to your mission. Conversely, your MISSION is what gives your team motivation to move forward.

3-Success Factors  

Success factors are strategic element to determine the firm’s competitive abilities. Success factors are required to conclude that what resources and competitive abilities the firm needs in order to attain a sustainable competitive lead. These factors are generally related to operations, technology, marketing, distribution or firm’s capabilities.

4-Flexibility

The firm must include in their mission statement their flexibility regarding the services or products. Embracing new changes and needs you can offer benefit to your customers. By absorbing fluctuations in demands and expectations the firm can  grab more attention than those who work rigidly according to their pre-defined standards.

Bottom Line

It is important to understand your values and pen down your mission in a convincing manner with strong conviction. Embellish it with inspiration, commitment and hope.

Check out our mission statement MiSoft Solutions

Why Following Up Could Be The MOST Important Part Of Your Selling Strategy.

Thursday, September 1st, 2016

follow up

“I just heard, the customer gave the go-ahead. Yeah, tell the boss; let’s go celebrate!”  – Every Sales Guy at Some Point

Not so fast. Closing the deal is actually the beginning.

You don’t close a sale; you open a relationship if you want to build a long-term, successful enterprise.” Patricia Fripp

It’s obvious sales people are more focused on the closing of a deal and getting commission, but a satisfied customer is a gateway to your future sales. So you also need to follow up after the deal is made.

Happy customers become a source of additional value after the first deal. For boosting revenues and profits the on-boarding of customer’s satisfaction is essential. Without a follow up it is quite challenging to estimate your customer’s satisfaction.

Customers need help after closing the deal but are sometimes reluctant to interact with you as they purchased the product and they don’t always understand it comes with support. To create brand loyalty, you always need to be there for your customer. To follow up, make a phone call or send an email to inquire about the product and if they need any guidance. By providing free help you are giving a reason for the customer to make your brand their first choice.

I think that by now everyone knows today’s customer is highly connected through social media, feedback sites and review portals. Give a good experience along with additional values and care to share it in their community. Through well versed follow up you will create a brand advocate who is going to convince his friends that your company gives matchless services.

THIS is the single primary reason follow up is an essential spice in your presentation. Follow up has the most direct impact on your current and future revenue. During the start of your business swift and adequate follow up in your marketing agenda can provide support to make effective deals on long term basis.

Keep Calm and Follow Up!

ERP Gold’s software suite makes keeping in touch with customer’s and following up a breeze.
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Why manufacturing growth effect everyone?

Thursday, August 25th, 2016

Manufacturing multiplier chart

 

Based on US Bureau of Economic Analysis, Manufacturing has the biggest multiplier effect, which means it effects all markets including housing and service industry. The chart here explains some numbers about different industries.

July data signaled a sustained rebound in production volumes across the manufacturing sector. Higher levels of output have been recorded in each of the past two months, with the latest expansion the fastest since November 2015. Anecdotal evidence cited greater inflows of new work and supportive economic conditions New business growth continued to recover from May’s post-crisis low, with the latest improvement in new order books the strongest for nine months.At the same time, export sales increased at a modest pace in July, which manufacturers linked to successful promotional initiatives and entry into new markets. Rising workloads in turn contributed to an accumulation of unfinished business for the second month running. (more…)