Jason Kumpf

Best Entrepreneur Books To Read Before The End of The Year

As the end of the year approaches, many people are thinking about what to read next. We recommend these five books for entrepreneurs and business owners that will help you in your business this coming year. Whether you’re looking for inspiration or strategy, these entrepreneurial reads can be a great tool.

The Lean Startup – Eric Ries

The Lean Startup by Eric Ries is one of the most well-known books among entrepreneurs. This book examines how business owners can improve and innovate their startups through a series of experiments that help them create better products, services, and processes.

Zero To One – Peter Thiel & Blake Masters

Zero To One by Peter Thiel is a great read for entrepreneurs who want to learn about the future and how they can position their business in it. The book talks about what you should do when starting your own company, instead of just following conventions or emulating other companies’ strategies.

The Startup Owners Manual – Steve Blank & Bob Dorf

The Startup Owners Manual by Steve Blank and Bob Dorf is a great read for entrepreneurs who want to better understand how startups work. This book contains the most practical tools, templates, checklists, and worksheets that you can use when creating your own business from scratch.

Start With Why – Simon Sinek

A great read for entrepreneurs who want to better understand the most important factor in their business – WHY. This book helps you focus on what your company stands for and why it exists, instead of just focusing on selling products or services.

Think Twice: Harnessing The Power of Counterintuition – Micheal J. Mauboussin

One of the best books for entrepreneurs who want to read more practical and analytical business advice is Think Twice by Michael J. Mauboussin. In this book, you’ll learn how to think about your ideas in a new way that will help you better analyze them before making decisions or recommendations based on them.

Outliers – Malcolm Gladwell

Outliers by Malcolm Gladwell is an excellent read for entrepreneurs who want to learn more about how success works. This book talks about the important factors that contribute to people’s successes and why some of them are much more successful than others.

2021 Business Trends

In the year 2020, many things changed for businesses across a great many landscapes. Some companies had to shift their business model, while others had to adapt to new rules being implemented, and other companies didn’t make it and closed their doors. Although the world continues to adapt and shift in ways nobody had expected, the future is unknown going into this coming year. However, there are certain things we can look to expect in the coming calendar year with business trends. This article will attempt to lay out some of the most expected business trends in 2021.

Remote Work Will Continue and Might Grow

In April 2021, most businesses experienced the shock of being told that employees would no longer work from the physical office. Instead, guidelines forced employees to begin working from home. This came with many obstacles for a companies workflow. New equipment, software programs, meeting applications, and other necessities needed to be purchased and implemented to allow for a business to stay open. With so much success with remote workers, it does not look like remote workers will be going away anytime soon.

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What Does the Future Hold for Entrepreneurship

By its very nature, the future is unpredictable. For instance, few could have foreseen the recent COVID-19 pandemic and the effects it would have on our lives. But to survive in the business world, you have to have a bit of a soothsayer in you. By looking at current trends and using them to predict future realities, you can stay on the cutting edge of entrepreneurship and set yourself up for success. Here are some predictions for the future of entrepreneurship.

Cryptocurrency will change everything

Cryptocurrency like Bitcoin is a controversial subject. Some billionaires like Elon Musk invest heavily in it, while others like Warren Buffet call it a “mirage.” But like it or not, cryptocurrency and blockchain technology will likely change how we make transactions in the future. The most significant difference between Bitcoin and our current monetary system is that the “coins” don’t actually exist. The coins are just algorithms, and the blockchain is a secure ledger of our transactions. It’s a currency for the digital age.

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Social Media Tips for Entrepreneurs

If you’re an entrepreneur and don’t fully utilize social media to help your business, you are letting a seriously beneficial opportunity go to waste. Social media can help you grow your business and your brand with minimal effort and reach audiences or customers who may not have heard of your business otherwise. To properly utilize this powerful tool, we put together this list of social media tips for entrepreneurs.

Use ALL social networks

Maybe you have one or two social networks that you like to use for entertainment or staying connected with friends in your personal life. But what you want to use might not be what your customers are using, so make sure you have a presence on all social media platforms to maximize your influence.

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How Entrepreneurs Can Gather Feedback from Customers

When you’re a business owner, the customer is king, which goes double if you’re an entrepreneur. Your business will thrive or struggle depending on how well you can deliver what the customer wants, and luckily finding this out is as easy as asking. But what’s the best way to gather feedback? By starting with the people who love your product, utilizing social media, and asking intelligent questions. Let’s break it down even further.

Start with your biggest fans

It might be tempting to cast a wide net and get as much feedback as possible, but doing so is counterproductive. Instead, you should focus on your biggest fans, the ones who love and believe in your business. Ask them what you can do to be even better. Your fans aren’t just eager to talk to you about your business, but they have many valuable opinions on what you can do to grow. If you can start with just the five people who love what you can do, you can better reach the five thousand who merely like it. That’s how you grow your business.

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How Does Bad Customer Service Impact Business

In the past, poor customer service might not have had a significant impact on your business’ growth. However, the internet has created greater transparency, affecting how consumers interact and view brands in a multitude of ways. For this reason, it’s important for business owners to see the ways in which bad customer service will impede their company’s growth and success.

Watch Those Online Reviews

Consumers do read the online reviews for any brand they’re considering using, so it’s important for you to also watch your brand’s reviews. Once a couple customers leave bad reviews, it can open a floodgate that leads to an overwhelming number of bad reviews. As a result, you’ll see a drop in the number of new customers your business attracts.

Higher Prices Will Increase Customer Churn

You will also be concerned with keeping your existing customers, so it’s important to consider how a price change will affect them. In many cases, a business owner will raise prices to compensate from the customer loss that bad reviews cause. The price increase can actually do more harm than good when it chases your existing customers away and towards a competitor…

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Measuring Your Businesses Success

Many managers and owners spend a huge part of their lives involved in their business. But at the end of the day, how do you measure success? There is no one-size-fits-all answer, but here are some metrics to think about.

Profit

The primary goal for a business is to make money. A business will go under if it’s unprofitable for long enough.

However, increasing short-term profits at the expense of the long term might not be smart. For example, cutting necessary capital expenditures like new equipment might increase profit. Or loading up on debt might seem attractive. In the long run, both decisions could have a negative impact.

Worth

A similar number you can look at is the balance sheet, which is assets minus liabilities. By focusing on increasing your company’s worth, you might avoid debt. Debt has tanked many businesses in the past.

Customer Base

Do you have customers from the very beginning? Do customers tend to stick around, or is there high turnover? Do you have high customer satisfaction ratings? Do your customers recommend you to their friends? With the internet, apps, and customer loyalty programs, this is easy to track…

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Importance of a Positive Customer Experience Strategy

When you start a business, you focus on the quality of products, yet in a global market, the modern consumer can find similar products from numerous companies. What you need to be competitive and successful is a positive customer experience that is unparalleled in your market space.

Why the Customer Experience Matters Most

Have you ever walked into a store to buy an item that you really wanted only to have an unpleasant experience? Chances are that you decided not to return to that store. Whether it’s the store, staff, or crowds’ appearance, there are many reasons beyond product quality that make people choose to go elsewhere. It’s the experience with the business that matters most. The customer experience begins when people first arrive or become aware of your company, and it continues long after the sale. As they say, “first impressions matter most,” and it is far more difficult to overcome the effects of an unpleasant customer experience than it is to get it right from the beginning.

Aspects of the Customer Experience

The customer experience is really about how you make people feel, and this is where your brand identity is essential. Everyone can create a logo or catchy name, but your customer experience needs to be just as thoughtful. Some of the aspects to consider for your customer experience are:..

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Company Benefits That Attract New Hires

The key to any successful business is the employees who help run the company. This is why it is the key to recruiting new hires who are skilled in what they do and can help the business thrive. Benefits play a tremendous role in attracting future applicants to apply for positions. When a company offers a strong benefits package, you are far more likely to attract qualified applicants. The following are several benefits that are a surefire way to attract those new hires.

Perhaps the greatest benefit that attracts new hires in the job market today is medical and dental insurance. In fact, most job recruiters say that this is the biggest added benefit that job seekers are looking for. Without offering this perk, it will be difficult to find dependable new hires that want to remain loyal to the company. The added reassurance of having medical insurance, especially while in the midst of a pandemic, is important to many. In order to stand out among other competing companies, benefits like this are a must.

Offering work from home opportunities could not be any more popular than right now as this pandemic is being tackled. Allowing new hires to have the chance to work from home is an attractive benefit that gives them some flexibility. This allows them to save time and money on what would have been their commute back and forth from work. It also lets potential new hires know that the company openly promotes an excellent work-life balance, which is extremely rare in the workforce today…

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Key Ways to Improve Client Happiness and Retention

Customer churn has always been a concern for small businesses, but the recent economic downturn caused by the coronavirus pandemic has magnified this issue. More than ever before, business owners have to look for ways to retain their existing customers, and that means keeping them happy. Here are a few ways you can ensure your customer satisfaction rate continues to rise.

Create Costumer-Friendly Content

When you create shareable content to promote your brand, you should be creating content targeted at new consumers. Separately, there should also be content that’s tailored for your existing and past customers, which means creating posts that relate to their relationship with your brand. This can involve providing tutorials that highlight the features of a product, addressing problems they may have experienced in using a product or sharing updates on existing products or services.

Engage With Social Media Followers

Consumers are generally more satisfied when they feel as though their favorite brands are listening to them. The best way to develop this type of relationship with your customers is by engaging with them on social media. You should be regularly interacting with your followers on any sites you use by commenting and liking posts that mention your brand, responding to comments on your posts, and answering questions that are directed to your brand.

Use Feedback

You can ask for feedback via a monthly email newsletter or by posting questions on your brand’s social media accounts. However, this is just the first step in this process. If you’re asking for feedback and never make any attempt to use it, consumers will catch on and will eventually stop providing their insight. You don’t have to use all of the feedback you receive, but you should consider taking common customer concerns more seriously. If consumers see that you’re using their concerns to improve your products, they’ll develop greater feelings of trust for your brand.

While attracting new consumers to your business is still important, doing so won’t grow your business if you’re also losing existing customers. These steps can help you satisfy a larger portion of your customers so they will return to your business for their future needs. In addition to these tips, look for other ways you can forge long-lasting relationships with your customers. Their loyalty can serve as a springboard for creating a recognizable and positive brand image.