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OCTOBER 13, 2016  Business owners know that employees can be a business’s lifeblood. High-quality workers who understand your company’s mission and strive to do their absolute best can help drive your success—which makes the topic of recruiting new employees an important one for business owners.

This very issue was covered at the HR Technology Conference  held October 10-13. The conference covered new and time-tested methods of recruiting new employees, which is especially helpful as the pursuit of the best and brightest can be challenging for small and even large businesses, believes Scott Wintrip, author of the upcoming book High Velocity Hiring: How to Hire Top Talent in an Instant.

Talent Shortage

“An ongoing talent shortage is pervasive across all industries,” says Wintrip. “Having been involved in hiring for more than three decades, I’ve watched both small and large companies struggle to fill open jobs in good and bad economic times. There have never been enough qualified candidates to go around, and ongoing innovations will continue to constantly create a vacuum for new skills. As globalization increases, borders will matter less, creating a talent competition unlike anything we’ve seen before.”

Emily White, co-founder of Dreamfuel  and Whitesmith Entertainment, agrees. “Currently, we are in a time of low unemployment, but even when those numbers are high, it is crucial that businesses recruit for the right fit, both for the company and employees,” says White, author of Interning 101. “When a small business doesn’t have effective recruiting methods, they are hurting themselves in both the short and long term by spinning wheels and wasting time and energy with folks who aren’t the right fit for the company.”

Tips for Recruiting New Employees

Adopting a powerful hiring process and more effective recruiting methods can go a long way toward ensuring that you hire the absolute best. “The old way of hiring—keeping a job open until the right person shows up—doesn’t work,” says Wintrip. “Instead, small business must engage in the new way of recruiting and hiring—cultivating top talent until the right job shows up.”

Adam Robinson, founder and CEO of Hireology, suggests business owners avoid waiting until they’re in a critical situation to begin the recruiting process. “Have the discipline as the leader of the business to spend at least 10 percent of your time each week on building a network of potential hires,” he says.Robinson and other business experts suggest keeping the following tips in mind when recruiting new employees.

Pay attention to your public presence. “By being active on social media, as well as keeping your website up to date, you attract candidates who are already drawn to and potentially passionate about what your company has going on,” says Robinson, who adds he prefers job candidates who apply based on an interest in the company.

“To lure top talent, it’s imperative that your business has a strong employment brand that showcases your culture,” he continues. “If a highly sought after candidate is deciding between multiple companies, and the work and salary are equal, that person is going to learn a great deal about what you have going on or not by researching your social media and web presence, so make sure to showcase what your company has to offer. Share what you can through social media and your website to appeal to candidates you are recruiting, or better yet, candidates [who] come to you because of your online presence.”

Ask for referrals. “Referrals have always been the most potent talent stream. Current employees, along with their family and friends, can connect you to thousands,” says White.

She also suggests not limiting your scope when asking for referrals. “Rather than just asking for names of those who are currently looking for jobs, ask for referrals to any qualified individuals, even if they aren’t interested, as they may be interested in changing jobs or know other talented individuals.”

Offer the potential for meaningful work. “Many employees report being tired of working in jobs that don’t give them a chance to use their natural abilities,” says Kathy Kolbe, chairman and chief creative officer of Kolbe Corp, and author of Business Is Business. “Such employees want purpose in their lives—not just a paycheck. Those small-business owners who can promise meaningful work when recruiting new employees will get more [promising] candidates.”

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OCTOBER 07, 2016 This year, the first full week of October (10/3-10/7) marks Customer Service Week, a celebration of the “importance of customer service and of the people who serve and support customers on a daily basis,” according to the official website

“We live in a time of unprecedented customer choice and customer voice,” says Joseph Michelli, CEO of the The Michelli Experience.

“Perceptions of a company have a substantial impact on consideration and purchase decisions today. Flawed products, inconsistent service, a lack of price transparency, slow delivery speed and uncaring brand representatives make up a lot of the negative online reviews that drive prospective customers toward competitors.”Customer service is the new marketing, adds Micah Solomon, a customer service consultant and author of the Heart of Hospitality. “When you treat your customers well, it can generate exceptional word of mouth, or what I call ‘word of thumb,’ which is digital sharing and great online reviews,” he says. “This is every bit as powerful—or more so—than old-school marketing. Customer service is powerful for the converse reason, as well. Treat customers terribly, and it can be deadly to your business.”

Cost-Effective Marketing

When it comes to marketing efforts during Customer Service Week and beyond, customer service is probably the least expensive, yet has the highest return on investment, notes Jordan Edwards, president and CEO of Mixology Clothing Company, which operates online and has six brick and mortar locations.

“There are some marketing strategies that cost a lot of money, such as big advertising campaigns, new inventory or hiring top consultants,” says Edwards. “We’ve found that the ‘little’ things like excellent customer service make the biggest impact. One of our core principals is, ‘People do business with people who treat them well.’ Excellent customer service will always allow the best companies to stand apart from the crowd.”

Steps to Great Customer Service

In today’s market, where customers can scan products on their phones and find them online for less money, it’s important that business owners look in the mirror and constantly critique themselves. This can help them offer their customers the best possible experience, believes Jordan. He and other small-business experts suggest the following insider secrets to great customer service during Customer Service Week and beyond.

Say thank you. “Countless numbers of leaders with whom I’ve worked commit to writing weekly thank you notes to their staff and customers,” says Edwards. “These leaders have found this personal touch has significant impact on driving brand loyalty.”

Michelli agrees. “Say thank you to those employees delivering great service in your organization and to the customers who frequent your business. People today want to be seen, heard, understood and valued.”

Empower employees. “So many big organizations focus on driving down operating expenses and handcuffing their employees,” says Edwards. “Many times these companies forget what made them successful in the first place. We empower even our lowest-level employees to think like entrepreneurs. You would be surprised at how many customer service issues can be solved with empathy and quick decision making. We work with our team to make sure they know they don’t have to ask permission to make customers happy.”

Building a blame-free culture can help empower employees, agrees Solomon. “Employees need to feel safe trying new ways of serving customers, even if they don’t always work out perfectly. They also need to feel safe admitting their mistakes so they—and the company—can learn from them.”

Strive for a “yes” attitude. “If you and your employees can always start with a positive, can-do attitude, that begins every customer conversation on the right footing,” says Solomon. “This tactic also leads to finding creative solutions. The customer may not always be right, but it’s almost always better to treat them as if they are. What’s the point of proving a point to a customer, or ‘winning’ an argument?”

Be flexible. “Great customer service moves on the schedule of the customer, rather than just the preferred schedule of the business,” says Solomon. He shares an experience he had that illustrates this point:

“One especially hot July day, my kids and I accidentally arrived 45 minutes early at an ice cream parlor. The teenage employees busy doing their prep work saw us outside looking hot, disappointed and miserable, so they opened up for us in spite of us being so ridiculously off their schedule. And they did it with a smile.”

Hire carefully. When it comes to ensuring excellent customer service, judicious hiring can be beneficial. “You’re not just looking for employees with experience or particular skills,” says Solomon. “If they’re going to be facing customers all day, employees require warmth, empathy, teamwork, conscientiousness and a pleasant temperament.”

Apologize when necessary. Though you may strive to ensure customer satisfaction, you may have unhappy customers occasionally. Man Crates, a subscription box service for manly men, deals with this eventuality by using humor to cheer up unhappy customers, says Jon Beekman, the company’s CEO.“Our customer service team will occasionally produce ‘Mea Culpa’—It’s Our Fault—videos featuring warehouse employee Trevor. [The videos show] the team duct tape wrapping Trevor to the warehouse wall, and another where the team shaves his head.”

Examine the customer’s journey. “Look at the customer service experience from the vantage point of the customer,” suggests Michelli. “What do your customers see, think, feel, expect and need at each step in their journey with you? Where are they experiencing pain, pleasure and ease? What are the points along their journey that will cause them to stay loyal or churn, often called moments of truth? Ask frontline customer service providers in the company what can be done to help remove pain points—particularly at those moments of truth.”

Practice what you preach. “Staff members emulate leadership behaviors,” says Michelli. “If you are the leader of an organization that is not delivering great service—look in the mirror.”

For more tips on how to keep customers engaged, access 4 Growth Hacks for More Engaged Customers, with insights from CEO of Growth Hackers, Sean Ellis.

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SEPTEMBER 29, 2016 As you gear up for the holiday season, you may want to pay careful attention to back-end staffing. With online sales growing year over year, the behind-the-scenes landscape of your company may require extra focus when it comes to hiring ideal seasonal workers.

“At our company we can no longer ‘steal’ staff from stores to meet the demand of Internet sales during the holidays,” says Jordan Edwards, president and CEO of Mixology Clothing Company. “Today we plan our staff for the web and stores the same way, budgeting for our expected sales in all divisions and stores and staffing appropriately. This holiday season we will nearly double our web staff from last year, as the business continues to grow exponentially.”While online sales are still a small portion of overall retail sales, the numbers are impressive when it comes to the growth of e-commerce. According to the U.S. Census Bureau of the Department of Commerce, retail e-commerce sales for the second quarter of 2016 reached 97.3 billion, increasing by 4.5 percent from the first quarter.

“Online products cannot be delivered through the computer screen,” says Michael Houlihan, co-founder of Barefoot Wines and the Barefoot Spirit. “Such merchandise is subject to distribution, handling and delivery, just like any off-line products. Resulting pressure on a small business’s fulfillment arm will require more relief workers during the holidays.”To support the anticipated package volume increase, UPS recently announced  that it expects to hire about 95,000 seasonal workers for the period from November through January 2017.

Competition Stiff for Hiring Seasonal Workers

The shift in online orders may cause more competition when it comes to hiring, notes Nicole Smartt, vice president of Star Staffing. “As hiring shifts from traditional retail positions to those that support online shopping, we’re seeing a more competitive hiring environment around the holidays,” she says. “Macy’s, UPS, Amazon, Kohl’s, Target and JC Penney started running job ads recently. They’re now swooping up the workers who already possess the requisite skills. Those small-business owners who start hiring early will be able to better compete for already-skilled talent and/or have the time needed to train unskilled talent before the big rush.”Beginning the recruiting and hiring process right now is advisable, agrees business consultant Scott Wintrip, author of the upcoming book, High Velocity Hiring: How to Hire Top Talent in an Instant. “The shift to shopping online has created the need for more people behind the scenes. Businesses accustomed to recruiting and hiring customer-facing personnel are now competing with one another for employees who fulfill online orders, and that is straining an already tapped out talent pool.”

Tips for Hiring Effective Holiday Employees

Chances are the temporary employee pool you’ll pull from isn’t going to include many individuals who are well-versed in the specific work performed by your existing employees. That means rather than focusing on required skill sets, you may want to look for employees who are good team players, advises Smartt. “Look for people who will be high energy and enthusiastic, even in the face of long, draining shifts. Try to determine if the candidate is a fast learner by building into the interview a quick hands-on test.”

Wintrip agrees. “Small-business owners need to hire resourceful people, who are able to quickly change gears, because changes occur quickly and moment to moment for a small business during the holiday season.”

Hiring individuals who are able to relate and sell to the younger generation may help keep sales coming in and help your business remain viable, believes Peter Gold, chief digital marketing officer of SHOP.COM. “For progressive retailers that wish to reach a millennial, digital clientele, it’s important to hire holiday employees who walk the walk and talk the talk,” he says. “Temporary workers who understand how the younger generation shops, including their turn-ons and turn-offs, can lure in and sell to that generation.”A great way to help locate effective seasonal workers is to ask around. “Referrals have always been our most potent talent stream,” says Wintrip. “One person has the ability to guide us to many potential employees with strong ethics and above average skill sets. Current employees, along with their family and friends, may connect us to thousands. Every candidate interviewed by a business owner can be a source of introductions to colleagues and friends.”

Smartt also suggests checking with your customers for potential seasonal workers. “Keep your eyes and ears open for people who are passionate about your business and make them an attractive offer,” she says. “You can also give current employees a referral bonus to encourage them to refer talented candidates who would make strong coworkers.”

For more tips on building a strong company culture, access our exclusive guide by author and leadership expert Jon Gordon: Build a Winning Organizational Culture.

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SEPTEMBER 23, 2016  Businesses that offer great benefits may be more likely to attract better employees. But when it comes to providing employees with retirement plans that small-business owners can afford, options can be limited. However, that may start to change.

The recently passed SB 1234 California Secure Choice Retirement Savings Program  provides small-business owners in California with the ability to offer their employees and themselves a retirement plan that doesn’t cost the employer anything. If California governor Jerry Brown signs it, this new bill will provide employees with a portable, state-run retirement savings plan. Contributions will be automatically deducted from paychecks without a cost to the employer.“Due to changes in the economy, retirement has become an increasingly important factor for attracting high-quality employees, but many small-business owners have found barriers to offering such plans, including cost, time and paperwork,” says Mark Herbert, California director for Small Business Majority

“The California Secure Choice Retirement Savings Program [which will require companies with five or more employees to take part] will help address this issue,” Herbert continues. “Employers won’t have to set up the program, contribute to funds or take on any fiduciary responsibilities, which means small-business employees can start saving for retirement without significant burdens or risks being placed on their employers.”

Retirement Plans May Attract Great Employees

“The ability to access a retirement plan for employees is a relief for owners, because most want to offer a plan, but don’t have the expertise, time or resources to implement,” says federal benefits and retirement planning specialist Ann Vanderslice, who is currently investigating options for offering a retirement plan to her employees. “Small-business owners also know that given the choice, employees seek meaningful work as well as benefits that enable them to reach their short and long-term goals. A portable retirement plan is a win-win for the small business recruiting the best talent.”Cyber security expert Scott Spiro, CEO of Computer Solutions Group, Inc., notes that having an excellent team is important to running a small business. “We as business owners have a moral responsibility to take care of our employees,” Spiro says. “When starting out, this is tough, but having a competitive benefits program to offer prospective hires helps you compete for the best and brightest in the workplace.”

More States May Be Looking Into Accessible Retirement Plans

Though there is much to be done in this area, states around the country are looking into ways of using the efficiencies of public retirement systems to administer new types of pension plans for private-sector workers, according to retirement income planning specialist Alexander Joyce, president and CEO of ReJoyce Financial LLC.“In addition to California’s state-run retirement plan for workers at companies that don’t offer retirement benefits, Colorado considered a similar idea  in May [2016], but decided against it,” says Joyce, “and New Jersey and Washington have opted instead for programs with very limited state involvement. However, Connecticut, Oregon, Maryland and Illinois are moving forward with their own state-run retirement programs and are looking to California as an example.”

Options for States Without Formal Retirement Plans

There are other options available when it comes to retirement plans, but they tend to cost more, notes Spiro. “Professional Employer Organizations (PEOs) are certainly an option, as they can offer great alternatives for 401K and healthcare plans that are normally reserved for much larger enterprise firms. Another option is to simply go directly to a low-fee investment firm for 401Ks and other financial products.”

While programs like Secure Choice may help make retirement plans much easier for small businesses and their employees, small-business owners in states without similar programs still have options, notes Herbert. “Small Business Majority hosts weekly webinars  for small-business owners across the country who need help sorting through the various retirement options.”

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“No business is immune to the fickle and unpredictable nature of a competitive marketplace,” says speaker and strategic consultant, Tom Panaggio, author of The Risk Advantage: Embracing the Entrepreneur’s Unexpected Edge. “All business climates are made up of a series of connected cycles, both positive and negative, that business leaders must accept as a risk and a cost for the opportunity to follow their entrepreneurial dreams.”

Tom Wheelwright agrees. “I have never seen any business that didn’t have ups and downs,” says the author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes and CEO of ProVision Wealth Strategists. “The stock market and economy in general affect all small businesses, because it causes customers to either hold on to their money or spend.”

While the overall economy may create some cyclical exposure for small businesses, most owners may be more in control of their destinies than they think, says De’Andre Salter, CEO of Professional Risk Solutions and author of Seven Wealth Building Secrets: Your Guide to Money and Meaning.

“Even in down markets, people spend money and buy goods and services,” Salter says. “Better managed and capitalized businesses are the ones that prosper during the downturns. It’s possible for small-business owners to come out ahead during downturns if they prepare for the ride. For instance, I don’t like rollercoasters, especially those with really big hills and drops, but if I know I’m visiting an amusement park, I research the drop, its height, speed, etc., so I’m prepared for the trauma that will inevitably come my way.”

In order to survive and thrive no matter the economic times, there are several things you can do to help keep your small business on course.

Always Keep Marketing

“Marketing is often the first budget that gets cut during a downturn, but it should be the last,” Panaggio says. “Cutting your marketing and sales is like turning off your engine in the middle of a car race. Let your competitors cut their marketing budgets and capitalize on their fear.”

When times are bad, don’t give in to the fear and turn off the marketing engine to save money, agrees integrated marketing expert Bonnie Harris of Wax Marketing, Inc. “Do whatever it takes to create as many income streams as possible, while getting serious in terms of ROI. Pursue less expensive marketing channels like online and content marketing and social media.”

Remain Innovative

“Never stop looking for ways to implement change, especially during tough times,” Panaggio says. “When things get rough, weak competitors will go into hibernation, and this is when creative business leaders make their moves. A couple percentage points of market share gained during a slowdown can pay huge dividends when the cycle turns around.”

Get closer to your customers in order to offer them products and services that best serve their needs, Salter advises. “When things are bad for the owner, it may be worse for the customer. So you must find creative ways to engage customers at a new level; understand their interests and help them solve life problems.”

Do More with Less

Small-business owners should become experts at survival tactics, Salter notes. “If you have to lay off employees, then keep the best, train them more, and pay them more to do more. The customer experience cannot suffer because the owner has fewer resources.”

Scaling back before you’ve lost too much is critical, Wheelwright adds. “Avoid throwing good money after bad. Business owners tend to try too hard and too long to keep employees and the business running as it was. Instead, regroup and look at how to ride out the storm. Laying off some longtime employees is better than going bankrupt, which doesn’t help anyone.”

Shave Taxes

Rather than inventory or employees, taxes may be the single biggest cost to a small business, Wheelwright notes. “We pay so much attention to production and employees that we often forget taxes are taking 50 percent or more of the net income from most small businesses. A simple plan of action from a good tax advisor can reduce taxes by 10 to 40 percent in a very short period of time. The extra cash flow from reduced taxes can be used for marketing, expansion and a well-deserved vacation for the owner.”

Maximize the Highs

When the good times come, and they will, use those opportunities to prepare for the long haul and focus on growing your business. “Be strategic and proactive and use the wave to look for ways to reduce expenses and increase profit margins,” says business optimization strategist Darnyelle Jervey, CEO of Incredible One Enterprises. “By running your business a minimum of 90 days ahead strategically, you’ll likely be proactive versus reactive to unseen circumstances.”

Whatever you do, don’t convince yourself that the boon is here to stay and spend all your cash. “All small businesses should maintain a cash reserve of three to six months of expenses at all times,” Wheelwright says. “A strong line of credit can also take the pressure off when the business has its downs.”

Be Straightforward

“Don’t deceive your employees, especially when times are difficult,” Panaggio says. “Employees are perceptive. Communicate the state of the company on a regular basis. When advised and included in the process of implementing change during down markets, employees become understanding and helpful. In the same respect, when things are good, reward them. Then they’ll stand by you and work extra hard through any market fluctuations.”

For more tips on how to help ease your way through tax season, access our exclusive guide, It’s Tax Time: A Business Owner’s Survival Guide.

Read more articles about financial analysis.

_{The information contained in this article is for generalized informational and educational purposes only and is not designed to substitute for, or replace, a professional opinion about any particular business or situation or judgment about the risks or appropriateness of any financial or business strategy or approach for any specific business or situation. THIS ARTICLE IS NOT A SUBSTITUTE FOR PROFESSIONAL ADVICE. The views and opinions expressed in authored articles on OPEN Forum represent the opinion of their author and do not necessarily represent the views, opinions and/or judgments of American Express Company or any of its affiliates, subsidiaries or divisions (including, without limitation, American Express OPEN). American Express makes no representation as to, and is not responsible for, the accuracy, timeliness, completeness or reliability of any opinion, advice or statement made in this article.}

A version of this article was originally published on August 28, 2015.

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“There is nothing like a great mentor—someone who can guide you and provide honest, real-time, practical advice,” says Jackie Stone, CMO of MiMedia.   “Mentors don’t judge your thoughts, ideas or dreams—they help you achieve them. My mentors have guided me to new opportunities and pushed me to take risks.”

Sherron Washington, CEO of marketing and communications firm P3 Solution

, agrees. “It is an invaluable investment to mentor and support other women in their businesses and networks. Historically, when women band together we are powerful, inspiring and resourceful, achieving extraordinary feats that have changed the course of history. It’s vital for our success to advise, collaborate and promote other women to help develop the current, as well as the next generation of, women powerhouses.”For any woman who wants to build a successful business or advance in her career, having mentors and advocates who support your growth is important, adds Becky Davis, a small-business expert, consultant and speaker. “You can be successful without a mentor, but it’s harder and can take longer,” she says. “Creating a strong network of women who support you is critical. You shouldn’t feel like you are the first person to go to Mars without other women to direct, guide and inspire you along the way.”

Life-Changing Connections

Mentoring can be life changing, believes Amber Alvarez, executive design director of Fuze Interactive, a company that teaches kids how to code. “I was frustrated in my role at a sprawling company. I felt I had good ideas, but no one to listen to them,” Alvarez recalls. She met a woman in the company she admired in the elevator and met up with her for coffee. This meeting resulted in her landing her dream job.

“During the time I worked there, she coached me to greatness,” says Alvarez. “I never imagined anyone capable of such kindness. She reached down the ladder to help me up and changed my life.”

Kristy Muir Sevy, Fuze Interactive’s CEO and founder, has a similar story. “A managing partner at a big VC firm offered to help me craft my pitch, and people were amazed I got a meeting with her,” says Sevy. “She brought another woman, a CEO of a multi-million dollar corporation. They mentored me for more than an hour. This was a huge lesson that successful women genuinely want to champion other women, and that I should never be afraid to simply ask for advice. ”

Claire Roberts, CEO of Lice Clinics of America, echoes Sevy’s sentiments. “I would not be a CEO today without mentors. In every case, mentors have also been my toughest critics–they pushed me, challenged me and demanded the best.”

Mentoring can be just as rewarding as being mentored, adds speaker and CEO Shama Hyder. “I’ve enjoyed mentoring young female entrepreneurs, and I’ve always felt like I learn just as much as I teach,” she says as Women’s Equality Day approaches.

The Benefits of Being a Mentor

It can be important for women to mentor and support each other in their businesses and networks beyond Women’s Equality Day.

Vickie Brett of the Inclusive Education Project  and special education law firm Selogie & Brett  sees myriad benefits to mentoring and being a mentee. “Mentors are able to share their knowledge and experience with mentees in order to help them avoid the mistakes they may have made in the past, while mentees are able to listen and learn.”

“For the mentor,” says Marsha Friedman, CEO and founder of EMSI Public Relations, “I believe there is no greater gift than to be able to help others. For the mentee, it’s priceless having a mentor who understands all the facets of your life and has gone through what you are going through.”

Lauren Davenport, founder and CEO of Symphoni Media,  agrees. “As a mentor, you have the privilege of helping shape the next generation of leaders by sharing your experiences, advice, successes and network. Often unexpectedly, the relationship also benefits the mentor as the mentee provides a fresh perspective.”

Aurea McGarry is a TV show host, producer, director and author. She also runs Live Your Legacy Summit,  a women entrepreneur support event in Atlanta that’s in its tenth year. “I would not be the successful entrepreneur that I am today without a village of women,” she says. “Women have touched my life and taught me so much. I now happily pay that forward.”

What to Do if You Want to Mentor or Be Mentored

If you’re inspired by these testimonies or the call for action Women’s Equality Day inspires, consider these tips on how to become a mentor or mentee.

• Be vocal: “Don’t be afraid to speak as a woman and acknowledge the challenge of balancing a busy work-family balance,” says Jordan Gaspar, co-founder and managing partner of food and beverage investor AccelFoods. “Be an example of someone who is trying to conquer the challenge and isn’t afraid to admit it is hard along the way.”
• Be a sounding board. Listen to issues, concerns and ask the tough questions, says Davis. “Support doesn’t mean being a yes person; it means being an honest person with honest feedback.”
• Make it easy. “When you want someone’s help, make it easy for them to help you,” says Hyder. “Good mentors are often busy. If they can’t make time for coffee, offer to bring their favorite drink to their office so you can have a few moments of their time.”
• Show your value. “The mentor-mentee relationship is not necessarily one of just taking,” says Hyder. “Make it easy for them to mentor you. Ask clear questions.”
• Ask. “Most successful women in business are incredibly busy,” says Sevy. “I’ve found a direct approach to be most successful, so ask about advice and mentorship. Before asking, always know what you want from a mentor; otherwise it will be a waste of time for both parties.”
• Know where to look. “Find mentors in a wide variety of places,” says Nicole Smartt, vice president of Star Staffing.   “Seek out mentors at business and women’s associations in your area, nonprofit organizations, within your family, church groups, and even community groups, such as chambers of commerce. Ask questions, listen carefully and discover passion for what you’re doing.”

For more of the best insights from mentors at the Boomtown accelerator program, access our exclusive video series: Mentor Insights – On Your Schedule.

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AUGUST 18, 2016Some people believe that if small-business owners lived by the customer service adage “the customer is always right,” sales automatically followed. But times have changed.

“Customers have never been so empowered and that trend is set to continue. They expect anytime, anyplace and anywhere service 24/7, and the basics need to be done brilliantly, every time, without question,” says Terence Mauri, author of The Leader’s Mindset: How to Win in the Age of Disruption. “Millennials, in particular, have shifted from calling in for customer service to self-service apps or networks of support communities.”

Customer Service and the Millennial Mindset

The face of customer service is changing the most when it comes to the millennial generation.

“Millennials expect to be treated like royalty with effusive gratitude and appreciation for their business,” says Brett Glass, CEO of Gift Card Impressions  and the Gift Tokens™ app. “This is especially true in cases of poor customer experiences that may require a formal apology or gift to keep the business. The last thing a business wants is a scathing Yelp review from a millennial tarnishing their reputation.”

Millennials represent a huge shift in customer service and how business owners relate to their customers in general, believes William Chase, owner of Webtacular. “This generation really wants to be thought of as unique individuals and not numbers in your customer service queue.”“Because millennials are digital natives, their expectations for all kinds of experiences are colored by how quickly and easily things happen via an app or just a few taps on their phone,” according to Thomas A. Stewart and Patricia O’Connell, co-authors of the upcoming book, Woo, Wow and Win: Service Design, Strategy, and the Art of Customer Delight. “They expect everything to be as easy and impersonal as ordering an Uber.”

Keeping Millennials Happy

The following tips may help you respond to millennial customers and the current shifts in customer service:

React quickly. “Small businesses may have an advantage in that their size allows them to be nimble, so they can adjust or adapt their processes more quickly and easily,” say Stewart and O’Connell.

Always aim for happy customers. “No matter what your industry, mission number one needs to be customer service, or someone else will end up eating your lunch,” says Chase. “It doesn’t matter if you deliver on-time and on-budget. If the person writing the check isn’t happy for some reason, that customer is probably not coming back.”

Apologize when necessary. “Even a small token of apology, like a $10 gift card, goes a long way in making things right,” says Glass. “Our new Gift Tokens™ app, for instance, allows business owners to send quick item-based e-gift cards, like a movie ticket or a burrito, as an apology. They’re sent digitally, which millennials love, because they can redeem the gifts right from their mobile device. Such micro-gifting is easy and relatively inexpensive to do, yet these small, timely gestures can sometimes make the biggest impact on customer loyalty.”

Make a connection. “Your customers aren’t robots lining up to hand you checks,” says Chase. “You need to strive to create some kind of meaningful connection, or at least make them feel that your goal is to help them. Like the old saying goes, all things being equal, people want to do business with people they like, and all things not being equal, people still want to do business with people they like.”

Chase suggests using social media to engage customers—especially millennials. “Social media is such an important tool for engaging this group, and creating connections this way can really pay off in terms of customer loyalty.”

Differentiate yourself from competitors. “The experience companies give customers—at every touch point in the process—is something that has to be carefully and strategically designed so it can serve as a point of differentiation,” Stewart and O’Connell advise.

Design with service in mind. Consider putting design before service, advise Stewart and O’Connell.

“Great service is not a consequence of good intentions, attentive management and a supportive culture. In fact, cause and effect are reversed,” they say. “Service needs to be laid into the company’s keel… If service isn’t built in, no amount of goodwill can deliver it reliably and no effort can compensate for the lack of it. A company designed for service, however, will naturally display the behaviors—the intentions, attention and culture—good service requires.

“Figure out what experience you want customers to receive at every point of interaction,” Stewart and O’Connell continue. “Then make sure that the company is configured to deliver that experience every time, without heroics.”

Decide what customers you want and don’t want. “The fact is, you have the power to decide which customers you want and which you don’t,” believe Stewart and O’Connell. “Customers who routinely ask too much of you and your employees are customers you can’t reliably, repeatedly and profitably service. The bottom line is that the customer isn’t always right.”

For more tips on how to keep customers engaged, access 4 Growth Hacks for More Engaged Customers, with insights from CEO of Growth Hackers, Sean Ellis.

Read more articles on customer relations.

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“Just when you think things are cool, wham! A sucker punch,” says Peter Boni, managing principal of Kedgeway and author of All Hands On Deck: Navigating Your Team Through Crises, Getting Your Organization Unstuck, and Emerging Victorious. “It happens to outfits big and small. Sometimes it’s self-induced. The culprit could be lack of foresight and planning, or just bad management. Other times, external forces beyond anyone’s control can whack you.”

Catastrophic Events

“Natural disasters happen all the time all over the United States, from the floods in California and Texas, to the tornadoes in the Midwest, or hurricanes,” adds Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows That You Don’t. “Successful business owners understand one important reality from those owners who are just hanging on or have had to close their businesses. They understand that what can be controlled must be. And what can’t be controlled has to be contained.”

Natural disasters can’t be controlled, but adequate insurance coverage may go a long way to helping lessen the blow of the unexpected, McBean notes. “[You should] realize the importance of asset protection, that profits or sales would not be possible if the assets of the business aren’t protected. In reality, asset protection is more important than sales and profits, because assets create the tools and the inventory from which profits and sales are generated. Assets represent cash or credit already spent, and not protecting them is equivalent to leaving thousands of dollars on a park bench and hoping no one will take it.

“Always break down your assets into the controllable and uncontrollable ones,” McBean adds. “Then make intelligent decisions regarding all your assets in terms of how they can be protected after a disaster, so your business can survive to fight for market share when things calm down.”

Whatever you do when presented with a challenge, try not to go it alone, Boni says. “The realization that you can’t handle things all by yourself is tough for some small-business people to recognize, but it’s imperative that you create a crisis team to help pull you through. Reach out to your staff, advisors and vendors and ask for assistance.”

Other suggestions for disaster preparation:

• Consider developing a written, documented disaster preparedness plan and review it with your employees. You might determine how you will communicate with one another in the event of a crisis, and make sure the information includes emergency contact information for everyone.
• Communicate your disaster preparedness plan. Hold a meeting and run through potential disasters, where you might discuss your first and future steps.
• Determine chain of command. This may mean designating an employee to take over if you’re out of town and unreachable, so you have someone you can rely on steering the ship while you’re gone.
• You might share your plan with critical external contacts. If you rely heavily on outside vendors, such as computer support people, sharing your potential disaster plan with them may help them know what to expect and do if something does occur.
• Consider an alternative operation site. If a natural disaster strikes, you probably won’t want to have to scramble to find an alternate location. Deciding ahead of time where that will be may help.
• Back up frequently. Loss of data may be a small-business owner’s biggest potential threat. Backing up into a cloud, daily, may help ensure your data is safe

The Other Side of Disaster

When a storm has passed and your company is still standing, you may find it has made you a better business owner, Boni believes. “It improves your judgment and your confidence when you overcome the storms. And it builds camaraderie. Those scars of experience build character for you and your team.”

Surviving storms of adversity may also lead to increased business, McBean notes. “One company’s disaster can be another company’s road to riches,” he says. “Like the floods of California, destruction causes reconstruction, and those small-business owners who covered themselves adequately can expand.”

Whatever you do, it may be best to stay away from what McBean calls the hope theory. “In this case, small-business owners hope that unfortunate incidents simply don’t happen,” he says. “The hope theory destroys businesses, because the unforeseen and mismanaged always catches up with you.”

For more tips on expanding your business, access Business Growth: How to Survive and Thrive, from MSNBC’s Your Business.

Read more articles about strategic planning.

A version of this article was originally published on July 24, 2015.

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AUGUST 12, 2016Although online retailing has been around for more than two decades—Amazon was founded in 1994 —in many ways the industry is still in its infancy. According to the U.S. Census Bureau, e-commerce sales have more than doubled since 2007, but as of the first quarter of 2016, they still only comprise 7.7 percent of total retail sales.“E-commerce is still very much in major growth mode, because a majority of shopping is still done offline,” says Peter Gold, SHOP.COM’s chief digital marketing officer. “Walmart’s recent acquisition of Jet.com  is proof that the competition is indeed fierce and that those operators with strong value propositions and differentiators are well-positioned to capture disproportionate market share from consumers. Small businesses have tremendous opportunities to enter or thrive, if already in, the e-commerce space.”The e-commerce market is “hotter than ever right now thanks to the very low barrier to entry,” agrees Misty Starks, CEO of Misty Blue Media. “More and more people are discovering ways to make money online for little to no cost. With the mega success of companies like Airbnb, many entrepreneurs are vying to be the next big digital disruptor, which can be exciting for consumers, investors and the business community.”

Ways to Tap Into E-Commerce’s Power

Whether you’re a brick and mortar using e-commerce as an additional source of revenue or you’re completely online, the following pointers may help you increase your digital sales.

Bridge the gap between on and offline. “Offer the chance to ‘buy online, pickup in store,’” says Gold. “This gives customers the convenience of shopping online combined with immediate pickup in store.” Doing this may also help get them into your online store.

Offer online exclusives. “Brick and mortar companies can sweeten the deal by offering digital-only sales to drive traffic to their online stores,” says Starks.

“Along the same lines, use loyalty programs that provide existing customers with reasons to buy online and make repeat purchases,” adds Gold. “Cashback, loyalty/rewards points, VIP treatment, ‘the more you spend, the more you save’ programs are some great examples of this.”

Tie into local. Online small businesses can localize by tapping into brick and mortar merchants, suggests Gold. “SHOP.COM has a program that deals with this called SHOP Local. The program allows local merchants to opt into the program and tap into SHOP.COM’s massive customer base in each market. It’s a turnkey business program that drives new customers and incremental revenue without SMBs having to do any heavy lifting or digital marketing.”

Make shopping easy. Having a great onsite search and simple navigation may help your customers quickly and easily find what they seek. If you don’t have an easy to navigate or search site, they may go to a site that offers simple, fast service. “Use site personalization and product recommendations to be timely, relevant and contextual to each of your customers, because they are all unique,” Gold adds.

Provide great products and excellent customer service. The web is huge and the options appear limitless to consumers, so it’s critical that your products stand out, believes Gold. “If you can forge an emotional connection with your customers, even better.” And remember, “the customer is always right,” he adds. “The internet is a cold and impersonal medium, so e-commerce companies must compensate with superior customer service and hand holding. Being responsive is critical.”

Starks agrees. “Address customer complaints immediately and work quickly to resolve any disputes. As we see on a daily basis, consumers move quickly in leaving reviews and taking to social media to express their dissatisfaction with a product or service much more often than sharing a positive experience.”

Give customers assurance. “When customers shop online, they can’t touch the merchandise and are in essence taking a gamble,” says Starks. “Whether it’s in the form of a money-back guarantee or a generous return policy, help customers feel like the house isn’t stacked against them by standing behind your offer. Companies that are e-commerce only should keep in mind that free shipping goes a long way with consumers, especially around the holidays.”

Avoid excessive post-purchase emails. “Don’t bombard your e-commerce customers with tons of emails after they’ve made a purchase,” says Starks. “While it’s expected you’ll advertise some of your other products and services, no one wants to feel spammed with daily or weekly emails.”

Don’t sell your customers’ information. “This is the holy grail of don’ts,” says Starks. “People patronize your online business because of the great products and services you offer; not to land on multiple lists for unsolicited emails from other businesses whose wares don’t meet their needs.”

Read more articles about getting customers.

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Determining solid startup costs requires careful analysis of a variety of factors. Keep in mind that every business is different regarding startup costs. While some businesses can successfully launch on a shoestring budget, others require a considerable investment to open.

Consider the following guidelines when estimating the startup costs for your business.

Research Potential Startup Costs

The most effective way to accurately determine your startup costs is to research what it usually costs other similar businesses to get started in your chosen industry. As you explore, find out how much money other companies spent to open the doors and to keep them open for the first 12 months of business.

Several means of obtaining information on startup costs exist. While there are websites containing valid information on startup expenses for your particular business that you should consult, you’ll require more than a virtual perspective to get a truly accurate picture. A skilled research librarian at your local library can point you to a wealth of information.

Trade associations are also a goldmine of data. In addition to having research available, they often hold trade shows you can attend that provide seminars on business-building topics such as startup costs. At such shows, you also have the opportunity to talk to other business owners. Speaking with successful entrepreneurs about anticipated costs is a particularly effective way of gathering accurate information.

Determine Initial One-Time Costs

Depending on your business, the one-time items and fees required to open up shop may add up to a substantial amount of money. Such costs are generally only required once, or periodically. They include expenses such as: legal and accounting fees to set up your corporation or partnership; logo and website design and implementation; permits; remodeling and improvements of the selected site; security deposit if you are renting the site; signage; furniture; and technological equipment, such as computers, printers, servers, cellphones, and initial inventory.

Some of these tangible expenses required to operate over the long-term, like furniture and equipment, are also considered starting assets.

Calculate Ongoing Expenses

Those monthly expenses that you continue to pay on a regular basis must also be factored in to your startup costs. Such costs include:

• Rent or mortgage, including utilities
• Salary, wages and benefits, sales commissions and licenses
• Dues and subscriptions
• Legal and accounting fees, insurance, taxes
• Advertising and marketing
• Manufacturing and shipping costs
• Website hosting and management
• Office supplies
• IT maintenance and replacement
• Inventory
• Working capital

This ongoing category also includes debt repayment of any loans, including the interest.

Project Out One Year

To determine your final startup costs, multiply your ongoing monthly expenses by 12, then add that figure to your initial one-time costs. This gives you your total necessary startup costs, which should get you through your first year of business, at which point sufficient profits will hopefully be coming in to cover costs.

Having a year of fixed expenses in the bank is considered prudent, although some entrepreneurs start with six months’ worth. The danger in this strategy is that after six months, you may not have sufficient revenue to support continuing the business, which could cause your business to falter. With 12 months’ worth of expenses in the bank, you have an entire year to focus on making the business a success.

Now that you know how much startup costs you’ll need to open your doors and stay in business, you can crunch the numbers and set an opening date.

Read more articles and see exclusive videos in OPEN Forum’s special section on Managing Your Money.

Photos from top: Getty Images,  iStockphoto