Gene Marks, CPA, author, and small business expert, answered small business questions live on our Twitter account. He offered valuable insight to small businesses and accounting professionals, answering questions and providing solutions. Check out some of the questions and answers from our Twitter Takeover below.
A: Top 5 features to look for in an ERP:
A: Top 5 biggest mistakes small business owners make:
A: A good CRM system helps to make sure follow ups don’t fall through the cracks. Another great way to speed up collecting money is accepting credit cards and mobile payments. More payment options will increase the likelihood of on time payments.
A: Depends on where your customers are…if your customers are searching for you online, Google AdWords is very important. If your customers are on Facebook, it’s important that you advertise on Facebook. Invest where your customers are!
A: The biggest challenge right now is finding people. You have to have a compensation plan that is suited towards the millennial generation (who make up half of the workforce today). Good compensation plans are made up of a strong PTO policy, good health plans, flexible scheduling, the ability to work remote, and good training program.
A: HAHA Amazon isn’t so scary! That’s because Amazon doesn’t have the great people that you have. Your customers will keep coming back if you continue to provide them with great service. Prices are important, but people want to do business with people. Make your people great at what they do, and you will always have a leg up on Amazon.
A: Advice for small businesses looking to grow:
A: Social Media is very important especially for an eCommerce business. Choose the social platform where your customers are and that best suits your products. If a picture best tells your story, strongly consider Instagram. Otherwise Facebook is still the #1 place for small businesses.
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