/Tag:running a business

Partners and W3 – Choose Your Partners Wisely

I’ve written about partnering a lot in my life. I have not felt great about all the partners I’ve chosen. I’ve made some bad choices in personal relationships and in business. But today, I have the greatest partner I’ve ever had. I asked her to marry me last week. She said yes.

Ok, so this post isn’t about me and it’s not about falling in love. It’s about finding great partners. But if you can’t find a great life or love partner, how will you know the right business partner? I have learned so much by my mistakes. I now use my W3 concept. It’s really simple. The partnership must benefit you, your partner and your customers. If all 3, then it has a chance for success. Missing one of the 3, forget it and move on.

Every relationship requires benefits for all involved. In love, you both must feel loved and be truly happy. In business, it’s about money and delivering value. If you and your partner solve each other’s problems and make money, that’s good. But if the customers also see the value, that makes it great.

Don’t get me wrong, liking or even loving your partner isn’t always a bad idea. But it’s not the goal. It’s not what keeps the relationship together. There must be gain on both sides, and for the customers.

Let’s have a look at Costco and American Express. They had a long standing partnership because:

Costco wanted to provide its members with something special;
Costco wanted to ride on the AMEX brand;
Costco wanted a deal with AMEX and more than likely, information too;
AMEX wanted Costco’s customers;
AMEX also wanted information, buying habits;
Members wanted a deal;
Members wanted status;
Members wanted another way to pay beyond debit cards or cash.

So W3 works perfectly here. But why has this relationship ended after 16 years? Well, nothing lasts forever and quite frankly it came down to money, but more specifically it came down to money related to one of the 3 Ws – Costco wanted a better deal. So they found a new partner in Citigroup and VISA. AMEX either made a terrible error in judgment or they didn’t see one or more of the 3 Ws anymore, so they let it go.

I wrote this post for those that are considering partnering with companies like CorpNet. W3 works here, well. CorpNet gets sales without massive marketing spend. Partners get paid commissions, big ones. Customers of the partners now have an easy and awesome way to form their business structures and handle compliance through their trusted advisors. Get it now?

BTW, W stands for win. Look for win, win, win situations in partnering with CorpNet, and you’ll end up ahead of your competition and a little richer and happier. Good luck!

Four Ways Busy Entrepreneurs Can Show Their Loved Ones They Care

Although Valentine’s Day has passed, it doesn’t mean the time has expired for us busy business owners to show our family and friends we love them. Building and nurturing relationships never goes out of season. And now more than ever, with the divide among people getting wider as the political and social climate becomes ever more heated, I believe we all need to step up our efforts to show we care.

But when you’re an entrepreneur bogged down with countless tasks and multiple concerns on your mind, how can you mange all that AND show your people some love?

That’s challenging for all business owners—whether you’re starting a business or have been running one for years.

I’ve found the key is to plan ahead and make a conscious effort every day.

Some ideas for ways you can show your loved ones you care despite your hectic schedule include:

  • Break bread with them. Although it may be tempting to work through lunches and dinners, set time aside to dine with your significant other and/or family and reconnect. You will likely find you’re more productive and mentally alert after breaking away and spending time with them.
  • Listen to their concerns and challenges—even when you’re inundated with your own. They need you! And I always find it’s therapeutic to lend an ear and know you’ve made someone’s day better by just being there to hear what’s weighing them down.
  • Schedule one-on-one time. Whether a romantic rendezvous with your spouse, a shopping trip to the mall with your teen, or an hour at the local café with your best friend, schedule time to communicate one on one. When you’re dealing with daunting deadlines and a never-ending list of to-dos at the office, it may be the only way to ensure you and your loved ones have alone time together.
  • Embrace the power of “it’s the little things that matter.” Whether it’s stopping at the local convenience store on your way home to buy them their favorite ice cream or giving them a big hug “just because,” realize even the smallest gestures of caring can demonstrate your love in a big way. Best of all, this can literally require only seconds or minutes out of your jam-packed day.

The Difference It Makes

When you make the time and effort to give your loved ones the attention they deserve, everyone wins. They will feel needed and cared for, and you will feel better about yourself and less personally stressed because you’re not neglecting the people who matter. I find it also helps me maintain a positive attitude in my work. When your personal life has harmony, your mind has greater peace and can more fully focus on doing what it takes to make your business succeed.

Want more time to show your loved ones you care? Free up more time by using CorpNet.com to prepare and submit your business filings. Contact us today to save you time—and money!

There’s no shame in being just a great entrepreneur or just a great player

I coach kids sports. I started when my oldest son was playing basketball at the YMCA. I didn’t know much about the game as a coach, but luckily I had another dad to help me and we figured it out. It was so new to me and I wanted to do a great job. They were only 6 years old, so we got by. As my son grew, more and more coaching opportunities arose. I always got involved, one way or another. Sometimes my company would sponsor, other times I would help coach. He loved basketball and I never really understood it enough to help him. So I did what I could. He became the top scorer for his club team and eventually a star in high school. I knew I wasn’t the right coach for him, so I let others do the job. It worked.

Later in life, I had another son. This time, it was very different. I coach baseball, soccer and I’m about to start coaching his flag football team. I think I can help him become a great soccer player, as that is my expertise and more importantly, my passion. But he’s a star in hockey, not my expertise, and he loves it more than any other sport. So I coach the sports I know and love, and let the dads that actually know the game handle hockey. Knowing your limitations in life, at least the ones that lead to your happiness, is important.

Coaching is a lot like being a business owner and an entrepreneur. I’ve learned many things at each, but the one thing I remember is a coach is respected most when they put as much into the game as the team. Same holds true in business. When the CEO gives it their all and works closely with their team, supporting them each step of the way, but also being the “boss” when necessary, teams have the best chance of success. Coach Lombardi said, “Leaders are made, they are not born…” and I believe this to be true. So if your desire exists, you can do anything. If your desire exists…

As a player, we learn the game. As an employee, we learn the business. Both grow. One might become coach. The other, the boss. Is it important to have played on the field before becoming a great coach? Can a business owner with no experience become a great CEO? Maybe, but that’s not the company I would want to work for. Remember what happened when Apple brought in the Pepsi guy. Then, when Jobs returned, the company exploded. Passion and on field experience returned.

Mark Zuckerberg and Bill Gates have been in the trenches, on the field and have proven that they are great entrepreneurs and amazing CEOs. Like a player on the field, these guys started at the bottom and worked their way up. Their passion and dedication to doing something transformative, not always about money, was their driving force. Not all entrepreneurs can do this and not all should.

To sum this all up, some of us are entrepreneurs and maybe become a great CEO some day. Some of us are players and perhaps we can become a great coach. Desire, passion and commitment is what leads to these stages. If you are a great player, but have no passion to be a coach, stay off the field after retirement. Same goes for you entrepreneurs and CEOs. In the end, you will win the race you choose to run and more will likely benefit. There’s no shame in being just a great entrepreneur or just a great player.

By | February 16th, 2017|Business Operations, Entrepreneuring, Other|0 Comments

You Can’t Put Your Heart Into Your Business If You Don’t Show Yourself Some Love, Too.

With Valentine’s Day finally here, February is perfect for reflecting on and celebrating how committed you’ve been to your entrepreneurial endeavors. It’s also an ideal time to assess how well you’ve been taking care of yourself.

As a small business owner, you likely work long hours, eat many meals on the fly (if at all!), regularly forfeit a good night’s sleep, and pass on countless invitations to enjoy activities outside of work. While those sacrifices may seem as though they’ll make you more productive and your business more successful, ultimately they can have the opposite effect.

I urge you to realize YOU are the most important asset your business has. And if you run yourself ragged, ignoring the needs of your mind and body, your business will suffer. Maybe not today or tomorrow, but eventually your entrepreneurial effectiveness will deteriorate due to your self-neglect.

As we celebrate the month of amore, how about showing yourself some love while you’re showing others affection?

To refresh your memory on how to do that, here are some ideas:

  • Get away.

Working non-stop can leave you frazzled and resentful. Even if for only a half-day, plan an escape from the grind. During your getaway, indulge in an activity you love whether it’s catching the latest blockbuster on the big screen or getting pampered at a spa.

  • Eat quality foods.

What you eat affects how you look and feel—which in turn impacts your self-confidence and energy level. I’m not saying you shouldn’t partake in some Valentine’s Day chocolates (I certainly intend to!), but don’t turn a holiday-inspired splurge into a chronic bad habit. Fuel your body and mind with healthful foods that offer the nutrition you need to perform at your peak.

  • Get moving.

Nothing can bust stress better than working out. Whether powerwalking on the treadmill, a Pilates session, or pumping iron is your thing, carve out time to treat your body right.

  • Take five.

If getting away from it all for an extended period isn’t entirely possible, at the very least squeeze in short breaks throughout the day. They will give you opportunities to refresh your mind, regain focus, and, if necessary, adjust your attitude.

  • Say No.

Many entrepreneurs have a difficult time with this—and it’s to their detriment. I know, because I’m one of them! When you have an innate desire to help others, saying “no” to taking on tasks and responsibilities doesn’t come naturally. But if you say “yes” to every request, you’ll shortchange your ability to fulfill your existing priorities. Avoid overextending yourself by mastering the art of saying “no.”

Don’t treat tending to your own physical and mental well-being an afterthought. Make a conscious effort to show yourself some love this month, and make it a priority every month and year going forward.

Foreign Qualifying your Business – FAQs

Happy February! With winter now in full swing, we will be talking about a way to get away from the cold with Foreign Qualifying! This month, we discuss the opportunities of Foreign Qualification into another state and what the requirements are for those states.

 

Q: What is foreign qualification?

A: A corporation or LLC transacting business in a state(s) outside of their state of incorporation is typically required to foreign qualify in those other states.

 

Q: What constitutes transacting business in another state and when do I need to foreign qualify?

A: As examples, your company is considered to be transacting business in an additional state if…

  • You have a physical presence in the state
  • You have employees in the state
  • You accept orders in the state
  • You have a bank account in the state

State rules vary and this isn’t a complete list. If you have any questions about whether you need to foreign qualify in a state, you can speak with an attorney.

 

Q: If I incorporated in Delaware or Nevada (but don’t live/work there), does this mean I need to foreign qualify in my own state?

A: Delaware is often chosen as the state of incorporation, especially by larger companies, because it has the most developed and flexible corporate statutes in the country and is considered pro-business.  Nevada has also become popular because of its lack of state corporate income tax, franchise tax and personal income tax.  It also has relatively low fees.

However, if you incorporate out-of-state, such as in Delaware or in Nevada, but do much of your business in your home state, you will most likely need to foreign qualify in your own state. You will then be subject to the same fees, taxes and regulations as if you had incorporated there in the first place, and you will have paid filing fees (and, perhaps franchise taxes) to more than one state.

Example: If you have a small business and are going to be conducting a substantial amount of your business in California, it will likely be beneficial to incorporate in the state of California. If you incorporate out-of-state, such as in Delaware or in Nevada, but do much of your business in California, you will have to foreign qualify in the state of California. You will then be subject to the same fees, taxes and regulations as if you had incorporated in the California in the first place, and you will have paid state filing fees (and, perhaps franchise taxes) not only in the state of California but also to the state of Delaware or Nevada as well.

 

Q: What is the process to foreign qualify?

A: You will need to file a Certificate of Authority, which grants a foreign corporation/LLC permission to transact business in a state. In most cases, you will need to show a Certificate of Good Standing from your state of incorporation/formation in order to get a Certificate of Authority.

 

Do you have a question regarding Foreign Qualifications? Call the CorpNet.com team today for a free business consultation at: 888.449.2638

 

 

Nellie in the News – January 2017

Another month has flown by – 2017 is off to a great start for us in the CorpNet office! Our New Year’s resolutions are still going strong. How about you?

Our CEO, Nellie Akalp has been busy as always in the press letting you know the best ways to start your business and how CorpNet can help! Call us today to incorporate, Form an LLC, file a DBA or for your other business formation needs.

Here’s a recap of what was published in January!

Interviews & press Mentions

Small Business Trends – 10 Essential Ingredients of a Successful Business http://bit.ly/2kjz7ti

Fundera – 19 Entrepreneurs Still on the Worst Business Advice They’ve Received http://bit.ly/2i1EA5H

tech.co – 14 Entrepreneurs Share Their Biggest Business Mistakes http://bit.ly/2js47WO

Neshprint – Top 18 Business Experts to Follow on Twitter http://bit.ly/2jVWZm0

Expert Contributed Posts

AllBusiness – Is Your Business Ready for the New Year? Here’s a Handy Checklist http://bit.ly/2j55HL4

franchise.org – Finding the Right Legal Structure for your Franchise http://bit.ly/2iN2KQo

Secret Entourage – Thinking of Selling your Business? Do these Things First http://bit.ly/2j06RYO

Small Business Trends – Is it Time to Incorporate your Business in the New Year? http://bit.ly/2iVOAwm

Huffington Post – Five Ways to Bring More Authenticity To Your Social Media http://huff.to/2jrfgEc

CRE Online – What’s the Best Way to Structure Multiple Real Estate Investments? http://bit.ly/2j24TaP

Accounting Today – How to Help Your Clients Decide if They Should Incorporate or Form an LLC http://bit.ly/2ihDnEj

Mashable – What’s the Best Business Structure For a First Time Founder? http://on.mash.to/2jg88Oe

Entrepreneur – How to Keep Proper Corporate Records http://bit.ly/2iPJjEN

Entrepreneur – The Pros and Cons of Incorporating in Delaware http://bit.ly/2jiAmaO

AllBusiness – Five Things Seasoned Small Business Owners can Learn from Rookie Entrepreneurs http://bit.ly/2jSdfCF

 

 

 

By | February 1st, 2017|Nellie in the News, Other|0 Comments

What Every Small Business Should Know About 1099s

Every year when tax time rolls around, I field questions from business owners about whether or not they need to send 1099s to their vendors. As common as 1099 forms are, they remain one of the most misunderstood Internal Revenue Service (IRS) requirements.

To make sure you understand the circumstances under which the IRS requires issuing 1099-MISC forms to vendors, I’m going to provide some basic “must-know” information here.

What Is A Form 1099-MISC?

You must issue an IRS Form 1099-MISC to each person you’ve paid $600 or more in services (including parts and materials), prizes and awards, rents or other income payments. The 1099-MISC only applies to payments you made in doing business; it does not apply to payments made for personal purposes.

To Whom Do You Need To Send A Form 1099-MISC?

If your business paid more than $600 to a vendor or sub-contractor [individual, partnership, Limited Liability Company (LLC), Limited Partnership (LP), or estate], you are required to send a Form 1099-MISC to document what you paid them throughout the year. In general, anyone who worked for you—other than your employees—will need a 1099 from you.

Also, unless an exception applies to them, you need to issue a 1099 to your landlord if you are paying rent for business purposes. You must also issue a 1099-MISC to your attorney if you paid for legal services that amounted to more than $600 during the year.

Are There Any Exceptions?

There are. The list is rather long, but most commonly these types of vendors do not get 1099-MISC forms:

Also, you don’t have to send 1099-MISC forms to vendors to whom you made your payments via a credit card, debit card, gift card, or a payment network like PayPal. The onus to report vendor compensation is on those payment companies.

How Do You Figure Out If A Vendor Needs A 1099 From You?

I recommend before you request vendors to do any work for you, ask them for a completed W-9 form. The W-9 will give you all the information you need for filing taxes. It supplies a vendor’s mailing information, Tax ID numbers, and business structure (so you’ll know if the vendor is incorporated or not and does or does not need a 1099).

When Is the Deadline To Send 1099s?

By January 31, 2017, you must do two things to comply with your 2016 tax year 1099 obligations:

  • Submit Form 1099 to each vendor (reflecting what you paid that vendor in 2016).
  • Submit a copy of the Forms 1099 you sent to each vendor, along with a Form 1096 that discloses in total what you paid to all vendors who received 1099s from you.

Make sure you check on your state’s rules, too. Some states require they also receive your 1099s.

What Happens If You Miss The Deadline? 

Sending the required 1099-MISC forms late (or not at all) could cost you. The penalties vary depending on how far past the deadline you wait to issue the forms. If your business had gross receipts of $5 million or less, the amount you’re smacked with could range anywhere $50 to $260 per form (for tax years 2016 and 2017). If you’re caught intentionally not providing a payee with a correct statement for tax year 2016, you could face a fine of $520 for each form not submitted (that amount will increase to $530 for tax year 2017).

Where Can You Get 1099 Forms?

Unfortunately, you cannot download 1099 Forms from the IRS website. You can, however, order them from the IRS site and have them mailed to you, or you can pick them up at an IRS service center, post office, or another location that supplies them.

Eliminate Headaches—Do It Right From The Start!

Whether you’re in the early stages of launching a startup or already running a small business, I recommend you talk with a tax professional who can share more details about 1099s and the other aspects of filing your tax returns.

Starting a business or ready to change your current business structure? Contact us about making the registration process hassle-free and as fast as possible. We’re here to handle all of your legal document filing needs!

Five Steps To Becoming An Empowered Woman (Or Man) Business Owner

As a woman business owner, I’ve found that empowerment comes to us in two ways:

1. Access to external sources of inspiration and knowledge

2. Self-respect and self-confidence

You can sit around and wait for someone to empower you, or you can take the bull by the horns and take action to empower yourself. I will always vote for the latter of the two because it gives you more control over your entrepreneurial destiny.

Although women own nearly 30 percent of U.S. small businesses (according to the Status of Women in the United States website), I find that many of us still struggle with accepting it’s OK to seek empowerment on our own. We often think of it as something that is handed to us. That doesn’t seem very empowering to me!

So, what can women entrepreneurs (and men, too) do to boost our level of empowerment and reach our personal and professional potential?

1. Recognize what knowledge and skills you lack, and find tools and resources to increase your proficiency.

This requires a commitment to honestly assessing your strengths and weaknesses. After you’ve done that, actively seek blogs, books, webinars, podcasts, conferences, mentors, and other resources that will help you get up to speed.

2. Align yourself with positive people (professionally and personally).

I cannot emphasize enough how much this affects morale and motivation. Chronically negative people drain your energy and enthusiasm. When they direct their skepticism and sarcasm at you and your endeavors, they deplete your self-confidence and leave you feeling defeated. As much as possible, minimize your exposure to them so you can fill your life with people who truly care about you and who will encourage rather than discourage you.

3. When you meet people who exude empowerment, ask them if they’ll share their insight about attaining that level of confidence.

I’ve found most people who have an empowered aura about them are immensely gracious and open to sharing about how they’ve helped themselves. I encourage you to reach out to them for inspiration. Even though their approach may not work with precision for you, you will no doubt take away some valuable ideas to apply in your own quest for empowerment.

4. Start the day on a note of gratitude.

I make it a point to devote a few minutes every day to consciously thinking about everything I have to be thankful for. What better way to get a positive start? It immediately puts me in the right frame of mind for dealing with whatever work and life will bring my way. This is so simple to do. I dare you to find an excuse as to why you can’t try this!

5. Acknowledge that mistakes and setbacks happen.

Because they will. The good news is they won’t make you a failure unless you dwell on them. Get beyond goofs and misfortunes by treating them as lessons learned and by remaining agile so you can shift gears and move in a new positive and productive direction.

6.  Don’t be afraid to say “no” or voice your position. 

If people ask too much of you, learn to say “no.” Overextending yourself will create excess stress and pull you away from what really matters. Also, don’t be afraid to voice your opinion when you disagree adamantly about something. Although initially you might meet criticism, in the long run you’ll gain more respect. Most importantly, you’ll respect yourself—and that is mission critical for feeling empowered.

Empowerment Begins With Embracing Its Power

Whether you’re a female or male entrepreneur and regardless of whether you’re just starting a business or have been running your company for years, empowerment wields great power. I urge you to embrace its potential to help you mold your vision and achieve your goals and dreams.

Providing legal document filing services at affordable rates, CorpNet.com helps business owners save time and money. Empower yourself by knowing your business registration and compliance filings are in capable hands. Contact us today!

Business Information Zone (B.I.Z) – FAQs

Welcome January and 2017! With the holidays behind us and a bright new year ahead of us, it is a great time to start a business.  This month, we discuss the ways CorpNet can assist with our Business Information Zone or B.I.Z. in keeping your company in compliance!

Q: What is B.I.Z.?
A: Think of B.I.Z. as your business’ personal concierge service. Once you sign up, you’ll receive email reminders on tax and compliance alerts. You can also use B.I.Z. to store your business documents, and keep a personalized business profile that tracks important data about your company — such as formation date, Federal Tax ID number, business licenses and permits, and more.

Q: I didn’t use CorpNet to form my business, can I still use B.I.Z.?
A: Absolutely. Any Corporation, LLC, nonprofit, or professional company can use B.I.Z. to stay on top of their yearly compliance requirements. It doesn’t matter if you formed your company through CorpNet or not.

Q: It states that B.I.Z. is free. Is there a catch?
A: No. B.I.Z. is completely free, no strings attached. We know how challenging it can be to run a small business – and sometimes all the tedious state filing and fees can fall through the cracks. Small business owners don’t always know when their annual report is due or why their business fell into bad standing with the state. We created B.I.Z. to help small businesses keep track of all these filings, so they don’t have to pay an extra dime in fees or risk falling into bad standing just because they missed a deadline.

Q: What information do I need to create an account for free compliance monitoring on B.I.Z.?
A: You will need the following information: your business type (e.g. C Corporation or LLC), your filing state (where you filed your corporation/LLC paperwork), and your filing date (the registration date of your corporation/LLC with the state).

Q: Why do you need to know my filing date for B.I.Z.?
A: Each state has its own rules regarding when and how often corporations and LLCs are required to file their annual report. By knowing when you formed your LLC/corporation, we can send you an email alert before your annual report is due.

Q: What particular deadlines does B.I.Z. track?
A: B.I.Z. will track and notify you of upcoming compliance deadlines with the state, such as your Annual Report (if required in your state). It will also alert you of upcoming tax deadlines based on your business type. In addition, if you provide information about your business licenses and permits, B.I.Z. will alert you when they’re coming up for renewal.

Q: Can I keep track of multiple businesses with B.I.Z.?
A: Yes, you can monitor multiple businesses from a single B.I.Z. dashboard. It’s an ideal for attorneys and CPAs to keep track of their clients’ businesses.

Do you need help registering a business or have questions regarding the process? Call the CorpNet.com team today for a free business consultation at: 888.449.2638

How To Use Live Video Chat For Your Small Business

In the past fifteen years, technology has transformed the way in which we communicate. In both our personal and professional lives, we have more channels available to us than ever: text messaging, instant messaging via social networks, and live video chat. The latter is a cutting-edge way for individuals to speak with others across the globe, and continues to become more valuable, with the video platform as a service (PaaS) market expected to generate $1.7 billion in 2020.

Live video chat may be ideal for friends and family to communicate in an intimate way, but it also holds great potential for businesses. For smaller enterprises especially, video chat can help you to increase engagement and gain an edge over your competition.

How?

  1. Live Video Chat is More Convenient for Consumers

Live chat is a common form of customer service today. E-commerce sites of all sizes offer this feature, allowing buyers and prospects to speak with real agents.

However, live chat tends to be text-based, with both parties forced to articulate themselves through the written word. This can be frustrating if your concern is of a technical nature, or requires a long, complex explanation.

On top of this, customers are forced to wait for agents to read their messages and compose a response. Today’s buyers want the most convenient solution – and this is not it.

While 90 percent of buyers questioned found live chat to be a helpful customer-service feature, live video chat offers a better quality of care. Its convenience allows consumers to speak face-to-face with a company representative from their home or workplace. Articulating your problems verbally, using gestures or visual aids, can be far easier than struggling with spelling and grammar over text.

Agents can provide solutions in less time, and use visual materials to walk customers through complex issues. 36 percent of buyers would be happy to see video chat offered as a support option, so every business should make it a priority for the future.

  1. Video Chat Boosts Your Sales

Sounds too good to be true?

Live video chat really can increase your sales over time. Video chat enables companies to offer helpful service as and when needed, without frustrating consumers with a constant presence. Anyone who shops in brick-and-mortar stores regularly knows how irritating over-zealous sales reps can be.

When asked about traditional text-based live chat, 63 percent of consumers stated they would be more likely to go back to a site providing this feature. As video is the next step in live chat, it is a must-have for any business, big or small.

Live video chat gives support agents the freedom to read body language and customers’ tone without infringing upon their personal space. Screen-sharing platforms also allow agents to see what potential buyers are looking at, which makes closing a sale easier.

  1. Live Video Chat Reduces Expenses

Enterprises of all sizes are concerned with their expenses. Even the biggest budget can be risked by unrestricted spending, so finding new ways to minimize outgoings is key.

Integrating live video chat helps companies to cut costs in two key areas.

First, as video allows agents to speak with consumers faster than text-based alternatives and use visual aids unavailable in voice calls, they can work through more queries. As a result, you will need only a smaller team of reps on hand.

Secondly, live video enables you to speak with colleagues and clients face-to-face, without having to pay for travel. For example, if you regularly fly a couple of employees across the country to speak with a client, you can save time and money by switching to video calls instead. The only thing missing is a handshake.

  1. Improve your Training and Collaboration

Just as live video chat makes external meetings far easier and cost-effective, it works the same magic on internal meetings. Pulling people away from their desks for brief idea-sharing sessions and feedback can take valuable time out of the day, and getting employees together may be difficult when they are required to be elsewhere.

With live video, employees can ask colleagues quick questions or make suggestions without having to leave their desks. This makes collaborating on documents, presentations, or pitches far easier and causes less disruption to schedules.

Training new employees is also streamlined. Rather than having to shadow others during their first few days, newcomers can ask questions without leaving their desk or pulling others away from theirs.

  1. Live Video Chat Gives you an Edge

While live video chat will go on to become a common customer-service feature, it is still something of a novelty for many consumers. By integrating it into your services as soon as possible, you can gain an edge over your competitors and provide a more intimate, higher quality of care.

However, before you invest time and energy into setting this up, it is vital to find the right service first. While it may be financially appealing to go with a cheaper solution, you may end up causing yourself more problems along the way.

Tony Zhao, CEO of video chat company Agora.io, discusses the importance of a quality channel: “Never cut corners with your customer service. Live video chat depending on poor connections, in regions without an efficient infrastructure, can cause lags, dips in sound, and sub-par video quality.

“Understandably, such interruptions risk chasing consumers away. Instead, you should prioritize paying for a quality solution which guarantees smooth, efficient service. For example, our Agora.io infrastructure has 80 data centers around the world, which pick up dropped data packets to ensure uninterrupted video chat connections. Giving your customers the clear and stable treatment they deserve.”

 

Live video chat stands to revolutionize the way in which we communicate with businesses, forging more personal, stronger connections between buyers and sellers. With the best service, your business stands to generate more revenue, offer more convenient care, and stand out from your competitors.

Have you thought about introducing live video chat to your company’s everyday operations?

By | December 22nd, 2016|Marketing Your Business|0 Comments