Successful Habits in Business

I was recently discussing business success with a peer. She asked me what I thought my most successful business habit was. Well, I don't know if I have one habit that actually has a success ROI. I do, however, have two habits that helps me keep my head in the game.

The first habit is being able to prioritize many tasks quickly and delegate certain items to the people I trust. I can't run every aspect of my company all of the time. Being able to prioritize and delegate is a habit that helps me run my company and I rely upon it daily.

My other habit is PMA, which means Positive Mental Attitude. You can't dive into any project or business relationship being negative but expecting great results. I try to have a great outlook on life and in business all of the time, even when I know I shouldn't. Being positive can help you combat stress and make smarter decisions when it comes to business. I don't know any cutthroat business owners who have long-lasting relationships in business or in their personal lives, which is a shame. You can be successful without being ruthless or negative.

My habits work for me. This doesn't mean they will work for you, although there is no negative to being positive! Make sure you find what works for you and make it a daily habit if you are truly seeking success.

Until Monday,

Twyla N. Garrett

Brilliant Investment Moves

I think one of the biggest reasons businesses fail is the inability to understand numbers. Many people have great ideas, but not everyone understands finances. This is why we have business owners and then we have serial entrepreneurs. Business owners tend to own one company and they tend to struggle for the first 10 years (if they make it that far) because the financial end has a learning curve. Entrepreneurs, on the other hand, own many companies because they understand numbers and are more engaged with balance sheets than the products or services they are selling. neither option is great for both the development of a company and customer service, a balance has to be struck!

So, all this said, I figured I would offer a very basic lesson in investing. You need $100 to execute this practice, but it will teach you a valuable lesson. With your $100, buy one share of a stock market Exchange-Traded Fund (ETF). I suggest you Open an account with TD Ameritrade. Opt into the commission-free ETF program. Buy one share of the Vanguard Total World Stock ETF (VT). This means you are buying into a pool of companies (about 5,000) from around the world.

Now what? Wait. You can loose money, but you can gain money. The key is to focus on the numbers and understand how commerce truly works by using your own money. Worst case scenario is you lose $100 dollars. Best case scenario, you grow that same $100 dollars and learn the balance between owning a business and investing in a company.

Until tomorrow,

Twyla Garrett

Don't Fight with Angry Customers

I want to speak today about angry customers and customer service. I've watched social media change the platform as to how certain companies deal with upset customers. Now, you will not please all of the people all of the time. You may even come across customers who are not happy no matter what you do or how much you do for them. But, if you do come across an angry customer on social media know that fighting with them in public is going to backfire on you.

So, how do you deal with an angry customer on social media? First, don't ever right with them. Next, respond in a short and concise manner. Invite the person to email or call you directly so you can further investigate the matter. Don't apologize for anything right away. Instead, focus on being empathetic and address the concern by stating you will investigate the matter. You also have to actually investigate the matter. If your company did something wrong, or not up to par, then you do need to apologize and make it right. Also, if your discover your company didn't do anything wrong, don't state that to the customer. Instead, explain how they could have misunderstood the action and that your company will work to inform customers better.

Make sure you also always draft a response and wait a few hours, if not a day, before responding. You have to make sure your response isn't vile or liable, too. There is no real way to predict every situation from upset customers, but if you use these guidelines to address social media complaints then your company (and its brand) will be better off.

Until Monday,

Twyla N. Garrett

The best business domains!

If you have or haven't started a business website yet, chances are that you're curious if you have the best deal on a domain. There are many popular providers, such as GoDaddy and Yahoo! Business. But, is ten dollars really the average for business domains?

As a business owner, I know every single penny of your budget counts. Below is a list of the top and cheapest business domain providers. I am not endorsing any of these websites but simply passing on the information.

#1. Register.com - starting at fifty cents per domain.
#2.NetworkSolutions.com - starting at seventy five cents per domain
#3. GoDaddy.com - there is a ninety-nine cent promotion but strings are attached.
#4. SuperCheapDomainNames.com

Buy and selling domains to other businesses can be a lucrative business, too. I recently had a friend offered over four thousand dollars for a domain she paid less than a dollar for! Sure, this type of money-maker use to be more prevalent, but there are still opportunities out there!

Have a great business domain provider? Please share it with me!

Twyla