Telephone Etiquette for Small Business 101

It may sound like a trivial subject, but that is far from the truth. Even in this computer age, the telephone is your front line. More often than not, a business is judged by how one is received over the telephone. Give the wrong impression and the transaction is over.

Try and be prompt. Don't let the telephone ring off the hook. No more than a few rings if necessary.

It is important to convey enthusiasm and professionalism. A warm, clear response, coupled with moderate tones and proper language convey a highly, professional image. Accents are most acceptable but improper language is not. Try and avoid using slang and leave professional jargon out of conversations with laymen.

Avoid leaving people on hold for an extended period of time. Even though the music on hold may be quite pleasant, remember to check back every half minute or so. If the desired person is not available, or will not be free to take the call for several minutes, offer to take a message before the caller asks.

We all have bad days. However, the rule of thumb is to leave it at the door. Don't convey your negative feelings to the caller.

Speakerphones should be avoided. The caller can hear when they are speaking to someone on a speaker. It gives the impression that you are simply too busy to lift the receiver.

If your telephone system is automated, be sure that the recorded voice sounds professional and that the information in the system is current.

Finally, be prompt about returning calls. If someone left a message, they do wish to speak to you. Good business sense dictates that a timely reply is the best course of action.
 
Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Will Anti-Spam Legislation Put Spam Back In The Can?

If you have a computer with internet access, you receive SPAM. All that unwanted "junk mail" that clutters up you e-mail inbox is SPAM. The advertisements, the pleas, pledges and proposals, the prize notices – all this constitutes SPAM. Canada ranks as one of the leading countries for origination of SPAM. Current proposed legislation in Parliament has targeted SPAM but the business community has targeted the legislation.

The Electronic Commerce Protection Act, otherwise known as Bill C-27, will require a marketer to obtain implied or explicit consent from the consumer before sending them an e-mail. The Canadian Marketing Association (CMA), representing 800 of the nation's largest corporations, is lobbying MPs to change the proposed bill. The CMA is proposing that consumers should have to opt out of receiving commercial e-mail messages.

Supporters of the bill in Ottawa fear that an opt-out condition will water down the legislation and render it fairly useless. A similar action took place last year in legislation for telemarketing rules. Altering the bill caused it to have too many exceptions to make it practical to consumers.

The vast amount of SPAM that travels through the internet in Canada today undermines confidence in the internet as a platform for personal and business use. SPAM is considered by many to be an invasion of personal space and consumers are tired of being bombarded by advertisements that do not interest them but merely clutter up their e-mail.

While the business community has a strong vested interest in protecting this advertising option, MPs from both sides of the political arena are uniting to support this bill to protect consumers' rights. Ottawa wants to send a clear message that Canada will no longer be an international haven for SPAM.
 
Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Canadian Broadband's Poor Rating

In a recently released report commissioned by U.S. regulators, Canada, compared to other leading nations, rates very poorly in areas such as national broadband adoption, network capacity, and prices.

Employing results from a detailed survey conducted by Harvard's Beekman Center for Internet and Society, Canada ranked a disappointing 22nd place overall out of 30 countries. Japan, Sweden and South Korea ranked highest in the survey. The United States placed 13th in the survey.

The survey was commissioned as a basis for the U.S. Federal Communications Commission (FCC) to create a national next-generation broadband plan.

Broadband service is viewed as a key factor to enable economic growth that can benefit a wide range of intrinsic services in areas such as telemedicine and management of transportation and energy systems. It can also greatly reduce infrastructure costs for businesses.

European nations support open-access policies to spur competition among service providers. Open access allows new companies to lease lines from a network owner. This has proven to be a highly effective method of promoting competitive pricing to the consumer market. Currently, both the U.S. and Canada have yet to adopt this policy. Both nations rely upon competition between cable and phone companies to develop better and cheaper services. The Beekman Center study concludes that this method is highly ineffective for the short and long term of the industry.

Canada's CRTC (Canadian Radio-Television and Telecommunications COMMISSION) did implement open access rules in 1997 but, by allowing network owners to charge the highest lease rates on the planet, the CRTC effectively hampered any positive development. With rates as much as 70% higher than some nations, open access did not progress in Canada.

With a rating that has continued to decline over the last decade, Canada must seek to revamp its broadband policy if it wishes to compete with the world.

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

How Important are Credit Checks for your Small Business?

Imagine conducting business in an ideal world – a world where everyone is honest and truthful and the thought of cheating someone never enters the conscious mind. Nice fantasy but hardly reflective of our modern society.

Not to cast disparaging remarks on the average consumer. Most of us are honest and hardworking. We pay our taxes and our bills on time. However, many a small business owner has fallen victim to the customer who has been extended credit and fails to pay the bill, leaving the business owner absorbing the debt.

Credit, both extending and receiving, has become a way of life in our world. Truthfully, it is not a modern concept. Credit has existed probably for as long as commerce and trading. Similarly, the unpaid debt has probably existed equally as long. Today, though, there are modern tools to help afford the business owner a certain degree of protection.

The credit check is a tool that can save the business owner much grief and heartache. Before extending credit to an unknown customer, it is wise to invest in a credit report, especially if a large amount of credit is being considered.

A credit report, obtainable for a fee through several agencies, gives complete information about the customer. The report will include the customer's historical payment data, records of any bankruptcies, lawsuits, liens, or any other court judgments. Based on the data, the report will also offer a risk rating that predicts the likelihood of bill payment by the individual.

Credit in business is partially risk. Risk management, via a credit report, is an advisable investment for your business.
 
Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Rating Online Business: The Star Rating System

Many of us have been a victim of the stars. No, this doesn't refer to astrology. Rather, the star rating system that is prevalent on many internet shopping sites has led many a shopper astray.


One of the big questions is who determines how many stars a product or a site rates? Another thought is how accurate is the rating? Also, who monitors the accuracy and validity of these ratings?
 

In many instances, the answer to all three questions is identical: the owner of the site. This is not to say that all ratings are fabrications. Many websites are quite honest and respect the consumer market. However, there is no limit to sites that serve as clearing houses and have little or no control over who posts products or services for sale.
 

In reality, the star rating should be used to reflect an average of opinions from actual consumers. However, fears of honesty and good old fashioned greed have led many sellers to conduct virtual opinion polls of likewise virtual customers.
 

The truth is that it is highly unlikely that all products and services have top notch ratings. Even a superior product is bound to have its critics. On the other hand, studies conducted by market research groups have shown that 65 percent of word-of-mouth is positive and only 8 percent is negative. In other words, it is quite likely that many shoppers who have not been pleased by the product or service they purchased online may prefer to say nothing rather than spread negative feelings.
 

The bottom line is that a website is no different than a conventional store in terms of purchasing. Don't believe everything that you read. Do your own research. Speak to friends who have purchased that product or frequented the seller. Educating yourself is the best consumer protection.
 
Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

The Stepping Stones of a Start Up

So you've decided to start your own business. Good for you! Many think about taking this bold step but not everyone is sure how to go about setting onesself up in business. While there is no blueprint for guaranteed success, there are a number of steps that you should take into consideration when planning to establish your own business venture.
 

First and foremost, if the decision is yours, establish a business that you will enjoy operating. Considering the amount of daily time devoted to operating a business, it really should be a labour of love.
 

Don't get going with out a written business plan. This document will help you take a realistic look at your idea and examine its viability. You will also need it to attract potential investors.
 

Unless money is of no concern, try and get your business off the ground while you are still employed. Having a steady source of income while your business is still in its infancy can help keep your family housed and fed until your business start showing a profit.
 

Take the necessary time to research your ideas. In order to make a name for yourself, you should have all the know-how and answers. Be sure that you know what you are getting into and are well versed in the industry that you plan to enter. Also, don't be afraid to seek advice from others. Bounce ideas off colleagues and friends. Get feedback, both positive and negative. It's better to hear thoughts and opinions before the business is a reality.
 

Be sure to use qualified legal and accounting professionals in your planning. A seemingly small mistake, financial or legal, can cost you dearly. You may also need this information when writing your business plan.
 

Make sure that your financing is arranged before you hang out your shingle. Opening your doors and hoping to find the funds afterwards can be a serious error.
 

Finally, even during the planning stages, start selling yourself. Get customers lined up and make professional contacts. If you sell yourself well, you'll be ready to start business on day one. 

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Common Mistakes of a Start Up

Most of us dream of becoming an overnight success. We have thought of the greatest business idea that will lead us to riches. It may happen. Then again, it may require good, old-fashioned hard work and dedication to make that first million. No doubt, though, that self employed entrepreneurs have that desire and drive to give it a try. By avoiding some common startup mistakes, the chances of success increase greatly.
 

It is vital to set yourself apart from others. You have to convince customers that your business is the right choice. What is your specialty that will entice business to come your way? Being the same as others in the trade won't cut it. Also, copying someone else's idea because they were successful at it won't bring you long term success.

You have to sell your service or product to the public. Don't expect a colourful flyer or flashy website to do the work. Similarly, your credentials are important for your credibility. But the bottom line is demonstrating what you can do with those credentials.
 

Did you start out with a business plan? Use this document to chart your business and don't be afraid to alter the plan as necessary. Many new businesses realize in the first few months that change is essential. Although you probably want to see your business in print, don't sink money into advertising until you've worked out the initial kinks and have settled on the long term version of your business.
 

Be sure to advertise your business where it counts. Get out and sell your service or product to the appropriate crowd. Also, don't let hecklers or criticism deter you. Setbacks happen. Don't let them overwhelm you. Marketing must be ongoing. Don't stop after a few tries. You want the public to identify you with your business. Continue the marketing and be persistent and convincing!  Motivate yourself and you'll succeed in motivating others. 

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Advertising Advice for Small Businesses

Undoubtedly, you will invest a good deal of time spreading the word about your new business. However, business requires a degree of volume. Therefore, advertising is a necessity. There are a variety of ways to advertise your new business, beyond merely speaking to people.
 

Even in this age of the Internet, many people still open the Yellow Pages when looking for a business. Of course, remember that the more visible your ad, the better your chance of being seen.
 

Newspaper ads are not just the realm of the major players. Your business will begin its path from a local market and local newspapers are the economical and effective way to attract a customer base. Don't forget to have an advertisement prepared professionally. An amateur look could harm your professional image.
 

A new business should avoid costly telemarketing. On the other hand, direct mail may serve you well as you can choose exactly which geographic audience you are seeking.
 

Do you have a supply of eye-catching business cards? Each card is a miniature advertisement. Give them out freely to whomever you meet. Also, you may want to enlarge your card and prepare a sign to stick to your car. Remember, it is hard to say that you can advertise too much.
 

Of course, budgets do factor into advertising. The size of your advertising budget will determine how much you can allow yourself.
 

Be sure to get around to trade shows. Networking at shows and conventions is a very effective way to make contacts and get known "in the business."
 

If you can afford it, local cable television advertising and radio spots may work for you. Similarly, sponsorship of local events in your community will earn you positive recognition.
 

Be creative and continually seek new and creative ways to advertise your business. It doesn't always require a large budget to market your business. Do what's best suited for your budget and be persistent.

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Looking for Startup Money?

Money makes the world go 'round. It also gets your startup business up and running. Many a new business venture has failed due to a lack of cash to get the operation off the ground and get through the initial difficult months until the business starts generating revenue. Unfortunately, there are no guarantees as to where you will find the necessary capital. Many entrepreneurs tend to follow a similar path in seeking funds.
 

The most popular place to look is your own pocketbook. Often, people will mortgage their homes or sell property and possessions. Certainly, there is risk involved but business involves risk and personal commitment to the venture is crucial. Of course, "personal" funds may also extend to family and close friends. Most likely, they will be far more supportive than commercial lenders and their terms are likely to be far more favourable.
 

Next in line is your neighbourhood bank. Assuming that you have a creditworthy relationship, this may be the ideal place to secure a startup loan. Also, a line of credit is most important for your business. You may not need these funds initially but they may come in handy down the line.
 

Do your research well. There are numerous loans and grants available for new small businesses from government agencies and business associations. Your local banker or your accountant may be able to help direct you to sources of funds. Similarly, professional organizations may have helpful information.
 

Investors may be the right answer for you. Although many investors prefer to become involved with established businesses, the right idea at the right time may attract investment funds to you. Your business plan should be designed with investors in mind. Be prepared to change the business plan as necessary in order to interest a potential investor.
 

Finally, don't limit yourself to one source of funds. It may be possible for you to finance your startup form several sources. Decide what is best for your needs and don't be afraid to seek advice from professional advisors. 

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®

Living Week by Week: Rough Economic Times for Canadians

The results of a new poll released this week by the Canadian Payroll Association revealed some surprising statistics and facts about the average Canadian household. A one week delay in receiving a paycheque would render nearly 60 percent of Canadians unable to pay their regular bills. Moreover, the same majority group has little or no ability to set aside money for retirement funds.

These surprising results have shed new light on the financial condition of many Canadian homes during these rough economic times. Despite common financial advice that people should have an emergency cash reserve for three months of expenses, the majority of households surveyed admitted that they are happy if they can make it to the next paycheque, let alone save for retirement or emergencies.

The younger workforce is in greater distress. 45 percent of workers aged 18 to 34 are feeling the crunch and feel that they are having trouble making ends meet. A delay in being paid would spell disaster. 72 percent of single parents responded in a similar fashion.

Regardless of age, the survey revealed that half of all Canadian workers are unable to save more than five percent of their net income for retirement. Financial planners recommend that ten percent is an advisable amount. However, the recent fluctuations in the stock markets have made saving for retirement far more challenging. Nearly one third of Canadians are trying to save more money but they can't. 42 percent admit that they aren't trying at all to save more.

Despite the variety and wide array of financial products being offered to Canadians by financial institutions nationwide, many Canadians seem pleased if they can pay their bills after payday.

Incorporate in Canada with CorporationCentre.ca
Click. You're incorporated ®