Whether you’re stuck in traffic or headed off to a long drive, it would make the journey more pleasant when you have something to listen to. Sure, having your favorite singer blaring in your headset or the car’s sound system provides a welcome respite from the monotony of the moment. But why not use the time to jumpstart your knowledge, pick up new ideas, or stay updated on the latest developments by listening to a podcast during the commute?

The Growth Of The Podcast Community In the United States

According to the latest report published by the Infinite Dial, more than 50% of Americans have listened to at least 1 podcast and one out of three Americans listen to at least 1 podcast per month.

In comparison, the number in 2018 was one out of four Americans.

Another interesting statistic that was revealed in the study was more young Americans were listening to podcasts. 40% of Americans aged 12 to 24 have been listening to podcasts compared to 30% the previous year.

What makes the report from the Infinite Dial compelling is that the increase in the popularity of the podcast the past 2 years was markedly significant. There has always been a steady growth in the popularity of podcasts but the increase from 2018 to 2019 was a clear jump-off point. 

A podcast can be entertaining, yet informative. Although the content of podcasts are regulated and have to subscribe to guidelines set forth by the Federal Trade Commission, discussions come across as more authentic. 

The banter between the host, the guest, and the audience – the call-in listeners – is freewheeling, sound unrehearsed, and extemporaneous. 

That does not mean the content is not researched! 

In a podcast, the show invites well-respected and highly competent resource people as guests. You can be assured, more or less, that the information you get from a podcast is updated and valid. 

If you’re not yet part of the podcast community, it’s not too late to join in! 

To get you started, here is a list of our favorite podcasts to listen to during the commute.

1. Building a StoryBrand with Donald Miller

Marketing can often be frustrating for many businesses because the campaign doesn’t produce the expected results.

In an effort to get answers, entrepreneurs and marketers tend to over-analyze the problem instead of focusing on the building block of every marketing campaign.

Its message.

Donald Miller and his team understand the power of storytelling and how to harness it for maximum results. People love to hear stories. But not everyone is an effective storyteller.

If you want your market to patronize your business, your story must be compelling enough to get them interested in the products and services that you offer.

Listeners of his podcast love the way Donald shares helpful tips on improving the message of your marketing campaign.

His approach to delivering content on his podcast best represents his idea on the most effective way to tell your story.

Keep it simple and easy to understand!

Put it this way, if people don’t understand your message, how and why will they talk about it to others?

If you’re unsure of your ability to tell your brand’s story, don’t worry. Listen to Donald’s podcast and he’ll put you on the right track so you can connect much better with your market. 

2. Creating Disney Magic: Lessons in Leadership, Management, and Customer Service by Lee Cockerell

Lee Cockerell was the former Executive Vice-President of Operations for the Walt Disney World Resort. He spent 10 years managing 20 resort hotels, 2 water parks, 4 theme parks, a shopping and entertainment complex, the sports and recreation facility of ESPN, and more than 40,000 employees.

How did Lee manage all the responsibilities required of a Senior Operating Executive of the world’s most popular vacation destination?

The first syllable of the word “Leadership” is pronounced “lee” and the word is synonymous with Mr. Cockerell who is a big proponent of leadership within an organization.

In his podcast, Lee shares the lessons he learned on leadership, management, and customer value during his time on the “happiest place on earth”.

Lee pulls no punches and gives his unique perspective on the challenges of making it in the big world of business. He discusses why having substance is of more importance than the image you present.

For Mr. Cockerell having an MBA degree and wearing the nicest, most expensive suits amount to nothing if you don’t respect the culture of the organization. To learn how to manage people, you must learn how it is to be managed.

Take 20 minutes to learn valuable tips on business from Lee Cockerell. 

 3. Seth Godin’s Start-Up School

Seth Godin is one of the most respected experts in the field of marketing. In 2018, he was inducted into the Hall of Fame of the American Marketing Association. He has also authored close to 20 books. Many of his books, such as Free Prize Inside and The Dip have become must-have in every entrepreneur’s must-read list.

If you haven’t read Seth’s works, you can listen to him in Seth Godin’s Startup School. Think of this as a “reality podcast” where Seth takes 30 entrepreneurs through a master class on how to start and grow their businesses.

Under Seth’s guidance, these entrepreneurs learn to appreciate and apply concepts that may not have been taught in school such as managing your fears, trust, motivation, and how to effectively manage cash flow. 

4. The EntreLeadership Podcast

EntreLeadership is a podcast hosted by Alex Judd. Alex is an in-demand Leadership Coach who believes you can only get better at what you do if are willing to operate outside of your comfort zone.

As the host of EntreLeadership, Alex shares his thoughts and ideas on leadership and gives valuable tips on how to cultivate the best qualities in you. The show regularly features guests who have made an impact on their respective fields.

On any given day, you may find yourself listening to career-defining insights from Mark Cuban, Simon Sinek, Seth Godin, and Jim Collins plus the most reputable persons from the world of medicine, politics, sports, and the sciences. 

5. Lead To Win with Michael Hyatt

New York Times bestselling author Michael Hyatt hosts the Lead to Win podcast which focuses on topics that help entrepreneurs, managers, employees, and everyday people gain knowledge on improving personal development.

Michael knows what he is talking about in the podcast. He used to be the Chairman and CEO of Thomas Nelson Publishers before making a successful tenure to life as an entrepreneur.

His entrepreneurial pursuit was included in the Inc. 5000 list of fastest-growing companies. Within 3 years, Michael’s business grew by 330%.

Listen to Lead to Win and learn useful tips for holding productive meetings, staying on track with your goals, co-existing with co-workers, choosing a business coach, improving mental fitness, and increasing your level of productivity. 

6. HBR IdeaCast

HBR Ideacast is the perfect podcast to listen to for people who are motivated to move up the corporate ladder. If you’re looking to find ways to become a more effective manager, listen to this podcast on the commute to work.

HBR editor Sarah Green Carmichael leads a team composed of HBR staff members to engage valuable resource people from different industries in lively banter and insightful interviews.

Although the show is categorized as a management and marketing podcast, it covers more ground than advertised. You will gain knowledge and insights on diverse topics such as science, health, and politics. 

7. The Liberator Podcast

GIANT Worldwide is a world-renowned company that strongly advocates leadership development. The company creates amazing programs and publishes top quality content designed to help anyone – entrepreneurs, office workers, and corporate executives – harness the skills to become effective leaders.

The Liberator is a podcast that has become popular because it is a wonderful resource for learning useful tips on leadership and personal development. Hosted by GIANT co-founders, Steve Cockram and Jeremie Kubicek, the Liberator has helped many of its listeners become more productive and actively involved in the progress of their business and people.

In every session, Jeremie and Steve introduce the latest developments in the world of business as well as new concepts, ideas, and methods in developing leadership skills. 

8. The Pitch

One of the limiting factors in starting and growing a business is funding. For many entrepreneurs, borrowing from a bank is out of the question because of the credit requirements and high-interest charges. Funding through interested investors has become a preferred option.

But what are the risks of getting venture capital? How will it affect your ownership of the business? Are having venture capitalists onboard your business worth it?

More importantly, is your business worth the risk for the venture capitalists?

The Pitch is a show that will answer all of your questions about venture capital. Hosted by entrepreneur Josh Muccio, the podcast is loaded with tips on how to sell your idea to investors, maintain good relationships with them, and make the arrangement prosper. 

9. Side Hustle School

If you’ve been thinking about augmenting your monthly income with a side job, listen to the Side Hustle. This is a podcast that’s worth a listen for anyone who’s thinking of opening another stream of income through a sideline occupation.

The Side Hustle is hosted by Chris Guillebeau, a bestselling author who has written several books and written blogs on the topics of entrepreneurship and personal development.

Every podcast show will feature resource people who have gone through the experience of starting a side hustle. Learn valuable tips on how to succeed – as well as how to avoid their mistakes.  

 10. Dear HBR

Dear HBR is a must-listen-to podcast for those who embrace the daily 9-to-5 grind at the office.

The excellent hosts led by Harvard Business Review editors Alison Beard and Dan McGinn talk about the issues that matter to everyone who works at an office – from the newest recruit to the company CEO.

Alison and Dan provide wonderful insights to all of your questions. Nothing is off-limits! Dear HBR makes it a point to invite renowned topic experts as they handle each question with thought and objectivity.

Dear HBR will also give you updates on the latest research on management, productivity, and valuable tips on motivation and dealing with toxic employees. 

Conclusion

As you have read, most of the podcasts we recommend are focused on entrepreneurship, personal, and leadership development. We acknowledge the value of small businesses not just in America but in the entire world. 

In America, 99.9% of businesses registered are categorized as small – 30.2 million businesses in all.

The sad reality is that more than 50% of these small businesses close down after 5 years. 

Can you imagine if we can improve the success rate of small business America to 55%? Our economy will be more robust and progressive!

Listening to these amazing podcasts is not a guarantee that you will turn your business around. But the tips and insights they share will give you the necessary knowledge to give your business a fighting chance to survive – and thrive!

If you enjoyed this article, please feel free to share it with your community.

And if you want to know how we can help you manage and grow your business through website design and digital marketing, give us a call! 

Other than “to lose weight”, “to start a small business” is another popular resolution for the New Year. 

In a survey on small business conducted by Guidant Financial, it was revealed that 27% of Americans were more encouraged to transition from corporate life and begin a career as a small business owner. 

If you are planning to start a small business this year, here are 5 challenges that you might face in 2020.

1. Cultivating a Productive Culture Within the Organization

You cannot run a small business on your own. You need to hire good people to help you manage the different areas of your business. Take note, we said “good people”, not the “best people”.

When companies say they want to hire the “best people” for their business, nine out of 10 times, Human Resources is probably focused on the information stated on the Curriculum Vitae.

There is nothing wrong about hiring candidates with the highest educational attainment, longest tenure, most citations and awards, and those with the brightest achievements in their career. 

Their accomplishments in academics and career, thus far, put to rest questions on talent and qualification.

However, hiring the best people does not necessarily mean having the most productive people on your team. 

An employee with all the accolades and achievements can become destructive if he is not a good fit for the culture of your organization. 

Think of a talented but wrong-fit employee as an All-Star caliber player who can’t make a team win because he can’t play with his teammates. He does not want to play within the system and is only concerned about accomplishing individual goals. 

On the other hand, you can have a candidate with modest accomplishments but fits perfectly with your organizational culture. 

He is willing to work within your system; play by your rules and “unlearn” skills that he believes are contradictory to your company’s processes. 

It only takes one ill-fitting employee to infect your business culture. 

In contrast, an organization composed of right-fit employees will foster an environment that is productive, encouraging, and nurturing and will put your business on the fast-track to long term growth and sustainable success. 

Our advice: Put greater emphasis on soft skills over hard or technical skills. 

Soft skills refer to the personality or behavioral attributes that best define the candidate’s approach towards work and life, in general. 

There are software programs that use behavioral-based algorithms to pre-screen applicants by identifying those who share the same values as the company. 

The preliminary interview should feature questions and encourage discussions on topics that best uncover the candidate’s foundational values and deeply-rooted attributes. 

Finally, having candidates participate in group work such as projects and discussions will help identify the ones who fit best in your organizational culture.

2. Adopting Efficient Business Models Without Compromising the Quality of Goods and Services

In an uncertain business environment, small business owners should not only train their focus on revenue-generating programs. 

Small business owners might have to develop or adopt business models that promote greater efficiency – lower costs without compromising the quality of goods and services. 

Here are a few ideas for you to consider:

• Tap Into Global Talent 

Talent is not restricted to any single region in the world. You can find talent everywhere. This is the reason the freelance economy has been growing for the last 2 decades. 

The growth of the freelance economy is tied in with the expansion of the Internet. In March 2000, the Internet was only accessible to 304 million people. Fast-forward to 2020 and there are 4.4 to 4.5  billion people on the Internet every day!

The growth of the Internet has made it possible for businesses to reach out and tap into global talent. 

While there is no significant discrepancy in talent or qualifications across the globe, you can capitalize on comparative advantages such as lower costs of labor. 

For example, in comparison to North America, where the average wage rate for a full-time employee can range from $16 to $20 per hour, you can hire freelancers at one-third the cost. 

• Integrate Technology-Based Solutions

You can significantly streamline costs by integrating technology-based solutions to your processes. 

For example, instead of using landlines or post/pre-paid mobile phone services to communicate, you can switch to Internet and app-based communication channels.

Communication platforms such as Viber, Skype, and Messenger are effective, dynamic, and cost less compared to traditional channels. 

• Outsource Tasks

Tasks such as accounting, digital marketing, customer service, and administrative functions are key activities in running a successful business. However, if you have to hire full-time employees to manage each task, your payroll could blow up your monthly budget.

The solution? Outsource or delegate these tasks to qualified third-party service providers.   

In outsourcing, the service provider usually offers flexible payment options. You can negotiate a fixed monthly fee, payment on a per-project basis, or based on performance. 

Outsourcing is a proven way of managing costs without compromising the quality of products and services.

Outsourcing is also a viable solution to the recruitment problem.

In the same survey conducted by Guidant Financial, 22% of small business owners reported that recruiting and retaining employees was one of their most serious challenges to growth. 

If you are having a hard time recruiting talent for your business, you may want to consider outsourcing select tasks to third-party companies or freelancers. 

3. Building Stronger, More Purposeful Relationships With Customers

The idea of building purposeful relationships with customers was put to light by Nobel Prize-winning psychologist Daniel Kahneman in his book “Thinking Fast and Slow”.

According to Kahneman, consumers tend to patronize businesses that have successfully triggered an emotional response from them. They understand the “why” or purpose of your business; not just “what” products and services you sell.

Consumers know “who” you are and subscribe to the same values that your business espouses. 

Yes, customers care about what goes into your product. However, they would be more interested in learning why you developed the product and why you got into this type of business. 

Customers want to see a face behind the brand, not just a logo. Customers love a brand that is fully engaged with its end-users because it makes them feel more important and appreciated. 

Our advice: Get out of the comforts and confines of your office. Be active on social media. Set up a website where your followers can find your products, services, and learn more about your company.

Blog actively; but not just about your business. Share your thoughts, ideas, and opinions with your customers. In other words, become a thought-leader. Let your customers know that your brand is not the business. 

You are the brand. 

4. Fortifying Defenses Versus More Aggressive Cyber-Attacks

2019 rung in the New Year by having 1.7 billion records leaked or stolen in various cyber-attacks all over the world. According to a study by Juniper Research, half of cyber-attacks target small businesses. 

Yet, small business owners spend less than $500 on programs designed to fortify defenses against cyber-attacks. 

Dealing with cyber-attacks is part of your current reality as a small business owner in 2020. There are no signs of slowing down and these attacks will only become more aggressive. 

Unless you take these acts of cyber-criminality more seriously, it will not be a question of how, but when your website, social media accounts, and other sources of online information will be compromised. 

Your website stores valuable pieces of information. Your clients and customers have entrusted their business/personal information to your care. It is your responsibility to safeguard and protect their data from malicious online thieves. 

What will you do if you found out your website has been hacked and all of the confidential information – Social Security Numbers, addresses, phone numbers, bank account numbers, credit card numbers – were all stolen?

Our advice: A single breach of data can destroy everything that you have worked for. Cyber-criminals are trying to stay a step ahead. Today’s latest anti-virus software can be obsolete tomorrow. 

Protecting your small business website isn’t just about getting the latest anti-virus software. You need a holistic defense system; one that can scan, screen, identify and eliminate attacks before they can do damage. 

And it will not break your bank account.

If you want to know how we have protected 100% of our clients’ websites from cyber-attacks over the past few years, give us a call. 

Let’s talk about defense and strategy!

5. Managing Work-Life Balance

One reason why an entrepreneur makes the shift from a 9-to-5 office worker to a small business owner is to have a better work-life balance. But perception is often different from reality. The entrepreneur soon finds himself spending more time at work instead of life.

All the benefits of entrepreneurship – financial independence, managing your own schedule, and having more time with loved ones – become fleeting thoughts; fantasies that may never be realized. 

Small business owners should strive to find a balance between work and life. Putting in more hours at work will not guarantee success. It will only succeed in stressing you out and affecting relationships with friends and family. 

Mobile technology has created a conundrum. Automated processes, software programs, apps, and cloud-based platforms have made it easier to get work done. 

However, instead of clearing out our schedule, we end up doing more things in the same number of hours per day. 

Take a look around you. There are people working on their smartphones while having dinner with family. Couples are answering emails instead of spending quality time with each other. 

Our advice: Productivity is achieved by the quality of hours spent at work, not by the quantity of hours. Set realistic goals – targeting 3 to 4 tasks or projects per day is reasonable and doable. 

In the same way that you schedule time each day for work, schedule time each day for the other important areas of your life – family, friends, self, and silence. 

In your moments of silence, take the time to express gratitude for the day’s successes and failures that have given you valuable insights on how to become better. 

Lastly, be in control of technology, don’t let it control you. Technology is a wonderful thing but it can be disruptive if not managed responsibly. When you’re with family – be with family.

Conclusion

2020 is just another year. If you think about it, 01 January 2020 is just 24 hours removed from 31 December 2019. However, does that mean that the challenges you faced just before you closed the books in 2019 remain the same? The answer is “No”.

The challenges that small businesses face in 2020 are greater and more magnified because with the new year comes new competition, new regulations, new consumers, and new technology. 

The best way to overcome these challenges is to take a more calculated and measured approach to managing a business. 

Think big but start small.

Establish your business culture. How do you want your business to run? Who are the people you would want to work with? What type of working environment do you want to promote in your business? How do you want people to feel about working for you? 

Focus on business efficiency. Look into ways that you can streamline costs without compromising the quality of output. Integrating smart technologies and proven cost-saving processes such as outsourcing can significantly improve business efficiency without breaking the budget.

Prioritize your existing market. Finding new customers is great but don’t neglect your existing customers. They are a wonderful source of recurring business through repeat purchases and referrals. 

Take the necessary steps to buildin strong relationships with them by incorporating an effective customer service process in your business.

Try to mitigate business risk by addressing potential pain points right away. Don’t become a statistic. Fortify your website’s defenses against cyberattacks because you never know when the criminals have trained their sights on your business.

As part of your planning process, give us a call. We can help you map out an effective strategy for starting and growing your small business. In addition to website design and development, we provide digital marketing services that can help promote your business, its products, and services. 

And if you enjoyed this article, feel free to share it with your community!

Buying an existing business is a good idea. If the enterprise has been in business for an impressive number of years, that is a sign of its reputation and stability in the industry. Should you take out your checkbook and issue a downpayment or reservation fee?

No.

When it comes to buying an existing business, don’t take chances and assume everything is in order. Performing due diligence via a financial audit is a smart first step but it is not enough.

Financial records and bank statements will not give you an idea of how the business is perceived by the industry and its market. You should perform an audit on the business’s online presence to learn more about its reputation and approach to managing its activities.

Here are the 6 things that you should look for when performing an online audit on a business:

1. Brand Awareness – Determine the Online Reputation of the Business

You may be surprised by what a simple Google search may yield!

With the Internet accessible to more than 4.5 billion people or 58% of the world’s population, it will be hard to stay hidden for long. News websites, content aggregators, and Internet users regularly upload or share information that captures their interest. 

If the business you are planning to buy engaged in news-worthy shenanigans in the past, trust that your Google search may pull out deal-breaking reports:

• Was the business engaged in fraudulent activity?
• Is the business mired in debt? 
• Is the company facing lawsuits from clients or customers?
• Is the government after the business for tax evasion?
• Does the company have a director who is suspected of criminal activity?
• Are the products of the business the subject of scrutiny regarding their quality?
• Are the employees treated proper?

You should also check the social media pages of the business.

• What are they regularly posting about? 
• What topics or issues appear to be of interest to them?
• How is the lead-in to the content presented? Is it in a professional manner?
• How does the company moderator interact with the commenters? 

70% of recruiters screen the social media content of job applicants to assess if the candidate is a good fit for the company. 

You should do the same with a business before you buy it because your company will assume its brand. The message of the brand must align with your business’s purpose, values, and vision.

A good website to visit is Glassdoor.com which allows current and former employees to post reviews, comments, and information on their employer. If the business you are planning to buy is listed in Glassdoor, you may get helpful information about the company.

Of course, there is always the possibility of reading reviews made by disgruntled employees. After going through a few posts, you may have a better idea of what the company’s culture is like. 

2. Uncover the Relationship of the Business with its Customers

One of the greatest benefits of the Internet is that it creates avenues for customers to engage with the business. Among the most popular avenues are social media platforms and chat messaging.

If the business you are planning to buy has social media accounts – and it should – visit their pages. When a business opens a company page, people who follow or like the page will be allowed to post comments. 

Keep in mind that there is no such thing as a perfect business. It is not realistic to expect every consumer to like the product or service. Then, there are the unfortunate incidents. No matter how stringent the quality control processes are, mishaps are bound to happen.

The usual course of action is for customers to file a complaint. While some customers will be discreet and choose email or chat messaging as the medium of communication, many will post the complaint on the business’s social media page.

When reviewing the social media page of the business, assess the following:

• Are the majority of the comments or posts from irate customers?
• Did the company respond in a respectful manner?
• Did the company respond within an acceptable time-frame such as 24 to 48 hours?
• Do the engagements between the customer and the company result in extended communication threads?
• Was resolution eventually achieved?
• Did the business provide a process for the customer to follow?

The new term for customer service is relationship management. Businesses should take great care of their relationships with customers. 

A disgruntled customer can become a loyal customer if the issue was dutifully resolved. Excellent relationship management will also strengthen the brand of the business. 

3. Assess the Scope and Depth of the Business’ Online Presence

The scope and depth of the business’s presence on the Internet should play a factor in determining its true worth. After all, you are buying their brand. 

• What online activities has the business undertaken to build its brand?
• How much work has been done to increase brand awareness online?
• How strong is brand recall? 
• Does the website attract an impressive amount of traffic?
• Do the social media pages have a good number of followers?
• How would you assess the level of engagement in the business’s social media pages? 
• Which channels of communication are in place? Chat support? Social media moderation? Email? Inbound call service? 
• How invested is the business in ensuring excellent customer service? 
• Does the business have a blog page?

If the business has not done much or anything at all to enhance its online presence, that means you will have to do a lot of the heavy lifting to give the brand the traction it needs on the Internet.

All of that heavy lifting may come at a heavy price:

• If the business does not have a chat support service, you will have to install the feature on the website or on its social media pages.
• If the business does not have social media pages, you’ll have to set up the accounts yourself. Building a network of followers will take time. 
• If the business did not blog, you may have to hire a content writer to create compelling blogs.

Building the business’s presence on the Internet will cost you resources in terms of time and money. 

As the saying goes, “Your business is representative of your leadership”. If there is no online presence, you should start to wonder about the people you are dealing with.

4. Existence of Social Proof

You’ve done the feasibility studies, checked the finances, and performed due diligence. In business, there is no such thing as a “sure thing”. Even if the results of the projections are in your favor, it does not mean the business you purchased is a good deal. 

One way to ease your worries about the viability of the business is to look for the existence of social proof.

Social proof is a concept that was introduced by Robert Cialdini, a professor of Marketing at Arizona State University. According to Cialdini, consumers change their behavior based on the actions of others. 

For example, if you see a long line of people outside a donut store, you will be compelled to join the queue because your assumption is that the food must be good. 

Of course, you may end up disappointed when reality falls short of expectation. Still, the presence of an impressive queue was enough to get you to try the donut store – and ring the business owner’s cash register. 

What types of social proof should you look for that attest to the viability of the business you are purchasing?

• Product or Business Reviews
• Influencer’s Endorsement
• User, Client or Customer Testimonials
• Positive Reviews or Reports From Various Media
• Social Media Shares of Published Content

When reviewing social proof, take the good with the bad. You can’t please everybody. Consumers have individual tastes and preferences. However, if the feedback is overwhelmingly negative, you might want to re-think your decision to purchase the business. At the very least, use social proof to tilt final negotiations to your favor.

5. Is the Website Responsive?

It’s not enough for the business to have a website. It must be responsive. Otherwise, your business will not be accessible to potential customers who use mobile devices to conduct an Internet search.

How important is it to have a website that is mobile responsive? More than 60% of searches on the Internet are carried out on a mobile device. 

If your website is not mobile responsive it will not set up properly on a smaller screen. The Internet user will not have the patience to zoom-in just to read your content and to navigate around your website. 

What will happen if the website of the business is not mobile responsive?

• Poor user experience means Google will punish the website in the search rankings.
• 61% of Internet users will abandon the search if the website is not mobile responsive.
• Internet users will abandon the search If it takes longer than 3 seconds to load your website on a mobile device.

For the reason that the Internet opens up your business to an ocean of opportunities, you simply will not thrive with a website that is not mobile responsive. Thus, you will have to spend to make the website mobile responsive. 

Similar to building the online presence of the business, you have to bring up the matter of the non-responsive website to the negotiation table. 

6. Is the Business Visible on the Internet?

Does the business post content on its website and social media pages? Blogging is a proven way of building the brand of a business. Its other benefits include driving more traffic to the website, generating leads, improving the search ranking of the website, and enhancing the business’s online presence. 

However, to realize these benefits, the content must be optimized. 

It won’t matter how amazing the blogs read. They won’t be seen unless the content is optimized with the right keywords. 

And it’s not just the blogs. The content on the website must also be optimized. 

Here’s a checklist of what to look for when testing for website optimization:

• Presence of broken links
• Optimization of meta tags
• Page loading time
• Existence of spelling errors
• Quality of keywords
• Assess the quality of the links 

Improving site optimization will take time. If the content published thus far isn’t good quality, then you will have to start from scratch. Poor quality content is described as content that is:

• Irrelevant
• Not informative
• Poorly researched
• Embedded with irrelevant links
• Not unique or fresh; risk of plagiarism
• Presence of spelling and grammatical errors

Poor quality content will affect brand perception. Spelling and grammatical errors will put off readers. Plagiarism will damage the reputation of the business perhaps beyond repair. 

It is strongly advised to run the published content through a plagiarism checker program such as Copyscape before finalizing the decision to purchase the business. 

Conclusion

Buying a business is like buying an old house. 

The value of the property is not on the house itself but on the land it is built on. Of course, the value of the home is considered when calculating the final sale of the property. 

A house that is for sale may look good on the outside but make no mistake, it is a depreciating asset. 

Even if the seller says he spent for repairs, don’t take his word for it. Inspect the house from top to bottom. Bring in an engineer or general contractor to give you a professional opinion. 

If you have to conduct repairs, the cost should be factored in when negotiating for the final price because you will be spending extra money to make the house livable.

Like real estate property, the business you acquired can pay out dividends in the future. However, before buying it you have to ascertain the viability of what you are paying for. 

Otherwise, you end up paying more than it’s worth. If the online reputation is poor and potentially beyond repair, you may never recover the cost of the investment.

Are you thinking of buying a business? Give us a call and we’ll help you run an audit on its website and overall online presence. 

If you enjoyed this article, please feel free to share it with your community or with someone who is planning to buy a business.

Since we started Mountaintop Web Design, we have made a conscious effort to seek out the best talent available to help us provide top-notch, world-class services to our clients. 

Talent is never the monopoly of one country or one region. In a truly globalized economy and with the scope and reach of the Internet, you can access talent from different parts of the world. Collaborating with people from other nations and cultures has been a rewarding and enriching experience for us. 

In the years we’ve spent working in the trenches with our friends from Southeast Asia, we made it a point to learn how Asian small businesses differ from Western small businesses when it comes to managing enterprises.

Here are some of the interesting tidbits we learned from working with small businesses in Asia: 

1. Family Comes First

Did you know that the vast majority of family-owned businesses come from Asia-Pacific? 

According to a study funded by Credit Suisse, the family-owned businesses from Asia-Pacific have a total market capitalization of $4 Trillion. As expected, China accounts for the largest slice of the pie with 159 companies and $1.38 Trillion in market capitalization.

The rankings for the most number of family-owned companies are as follows:

• Asia-Pacific and Japan – 528 companies (53%)
• Europe – 226 companies (23%)
• The United States – 121 companies (12%)
• Latin America – 64 companies (6%)

Why does Asia have so many family-owned businesses? 

For years, we’ve heard or read stories of Asian family-owned enterprises being protective of the business’ succession. 

Is there more to this ideology than just to “keep it (the business) within the family?”

The Credit Suisse study found out that family-owned businesses outperformed non-family-owned businesses in terms of revenue growth and profitability. For example, in Japan, family-owned businesses delivered more than 25% greater Cash Flow Return on Investment (CFROI) than non-family-owned businesses.  

A study conducted by Harvard University on family-owned businesses in the Philippines reveals 2 reasons why these types of businesses perform better than their counterparts.

• In family-owned businesses, management and family are one and the same. The family is the business. Therefore, they do not experience the standard conflicts between management and the shareholders on issues such as governance, returns, and management pay as do non-family-owned businesses.

• In a family-owned business, the founders remain deeply involved in the business even after they have gone past retirement age. The founders have taken up a greater role as a symbol of commitment, hard work, and discipline to inspire employees to perform at their best every day at the office.

Generally, while the founders are still alive, the other key role in the organization –  CEO – is delegated to outsiders or non-family members. The reason for this is to create a balance between tradition and the demands of globalization.

In time, when the founders have passed on, the business is carried on by the succeeding generations. 

2. Everyone Starts From The Bottom

As discussed in the previous section, when it comes to family-owned businesses, Asia rules the world. 

In the Philippines, 80% of small businesses are family-owned. If you are a Filipino, you are expected to work for the family business after you have graduated from university.

That does not mean you will walk straight to the Chief Executive’s office the day after you receive your diploma. You have to work your way to the top and that means starting out from the bottom. 

A friend of mine from the Philippines said that when he worked for his father’s ship-staffing agency, he had to start out as a Liaison Officer. The job meant heading off to the Philippine Overseas Employment Administration (POEA) every day to process the documents of the seafarers. 

As a Liaison Officer, days are spent waiting in queues for several hours and going from one department to the next getting signatures and having work contracts approved. 

The job of a Liaison Officer in a recruitment agency is regarded as entry-level. It is usually given to a seafarer who cannot find work and needs to earn money to pay for his expenses while in the city. 

According to my friend, the experience was hard and humbling but gave him a deeper perspective on what overseas Filipino workers go through to find greener pastures in other countries. 

He also gained a better understanding of the culture of the overseas worker. It helped him articulate ideas and establish strong, trustworthy relationships with the seafarer and the shipping principals which were based in Singapore and Malaysia.

3. Respect Days of Religious/Spiritual Obligation

Asia is a continent where the countries practice a wide range of religions such as Catholicism, Christianity, Buddhism, Islam, Judaism, Shinto, and Taoism. Religion and spiritualism are a big part of life among Asians. 

The Philippines is the only Christian nation in Asia.  86% of its population is Roman Catholic. The Philippines observes the following religious holidays: Maundy Thursday, Good Friday, Black Saturday, and Christmas. 

Filipinos also observe the days of religious obligation as instructed by the Catholic Church. Many businesses do not have work during religious holidays. It is a tradition for employees to be with their families and to maintain the practices that have been handed down for generations. 

For example, during Maundy Thursday, Filipino families visit and pray at 7 churches. On Good Friday, Filipinos troop to Churches at 3:00 pm to hear a special mass and listen to the priest’s rendition of Christ’s “Seven Last Words”. 

Although Asia is home to different religions, spirituality has a big influence on how Asians live their lives and make decisions. Historian Teodoro Agoncillo once described Filipinos as “fatalistic”.  

Filipinos have a favorite phrase “Bahala na” which translated to English means “I leave it to fate”. Another version is “Bahala na si Lord” or “I leave it to our Lord Jesus Christ.”

Applied to business, the Filipino will do his best to succeed but he understands nothing in life is certain. 

The industry can be very competitive and others want to succeed as much as he does. Thus, he will leave the outcome to fate or to his faith in Jesus Christ. If success is for him, it will happen. If not, he will try again. 

Faith gives Asians hope. If everything else fails, he has his beliefs to fall back on. If he succeeds, he gives credit to his faith more than anything else. 

4. Perform Beyond the Value of Your Service

Outsourcing has grown to become a very profitable industry for nearly 20 years. Outsourcing’s jump-off point was the year 2000 when the industry was valued at $45.6 Billion. By 2014, outsourcing hit a high of $104.6 Billion. 

Asia became the global hub of outsourcing. Countries such as the Philippines and India became the primary destinations of companies that wanted to outsource services. 

The biggest benefit of outsourcing for businesses is its ability to lower costs by capitalizing on comparative cost advantages particularly labor. 

For example, hiring a full-time accountant in the United States will cost you $29.63 per hour. In comparison, outsourcing services to an accountant in the Philippines will only cost you $3.33 per hour. 

However, when you outsource to Asia, the saying “You get what you pay for” does not necessarily hold true. The reason why the outsourcing industry continues to thrive in Asia is that the quality of service and deliverables is world-class. 

According to the online job platform UpWork, freelancers from the Philippines are the 3rd highest earners in the world which confirm the continued demand for their services.

In general, Asian businesses do not want to commoditize their services by driving prices to basement-bargain levels. The rates are lower simply because these are in line with industry standards. 

Asian businesses share the belief that once they have proven their worth to the client, requesting for an increase in fees should be within reason. Thus, they provide work that is over and above the monetary value of their services. 

Yes, companies in Asia do respect religious holidays but many will set up small-size workforces to render services to clients during these days of obligation. The businesses don’t mind paying their employees twice their daily wages to make sure the clients’ needs are covered. 

Asian businesses don’t view their clients merely as clients but as strategic partners; one that shares a common interest to succeed in the industry. 

Conclusion

Close-family ties, a strong belief in honorable work, respect for faith and spirituality, and unwavering commitment to provide their best to clients and customers – we learned that Asian small businesses do not separate the enterprise from who they are. 

The popular thought process is to keep life and work separate – who you are at home should not be the person running the business. We should be more professional or formal at work so that our employees will respect us. 

But how is it to be a “professional”? Does wearing a formal tie, dress shoes, a pressed shirt, and slacks and a face-forward appearance fit the bill of a professional business owner? When employees say “Good Morning!” or “Good Afternoon!”, should it be considered as a sign of respect? 

As the popular saying goes, “respect should be earned, not given.” If you manage people and clients from the position of your values – the principles that made you who you are – you are being authentic and truthful to them. 

The employees, clients, end-users, suppliers, and other stakeholders in your business value chain who are aligned with your values would be motivated to help you attain long-term, sustainable growth. 

Put it this way, if you manage your business and attend to the needs of your employees and clients with love in your heart – the same way you feel when you are with family – how can you ever go wrong? 

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