Did you know that almost 46% of the startups use their personal credit cards to keep their startups afloat, only to realize their mistake later? Unlike personal credit cards, a business credit card is one of the most important financial tools that every business owner needs in any startup’s toolbox. It’s way more than just a means of making payments and obtaining credit. In fact, a business credit card is a unique, flexible form of financing. It protects you against liabilities and delivers rewards and perks specific to what’s important to you and your business. 

 

To help you understand and explore how business credit cards set you up for success, here’s a list of some of the key benefits why every business owner needs a business credit card to build their startups.

 

Steering clear from mingling up the business and personal spending trap

You’ll eventually need to make purchases regardless of whatever niche you choose to explore or whichever direction you wish to drive your startup. While putting all these expenses through your personal credit card and racking up the points may sound like an easier way to move forward, many startups fall prey to this practice. But logistically, separating your business and personal expenses from the get-go makes it easier to track what and how much you spend on your business. After all, you don’t want your inventory purchases getting mixed up with the charges for dog food or even movie tickets. Trust me! When the time comes to pay the taxes at the end of each business cycle, your accountant will be thankful that you did not mingle your business transactions with personal onto a single account. 

 

Protecting your personal assets from legal liabilities is worth your while

When you decide to build your startup, your business will likely fall under an LLC, a partnership, a C-Corp, or even an S-Corp. If you continue to choose to use your personal credit card to pay for your business and do not separate the two, there are bound to be legal implications that you must be wary of. In simple words, if your finances aren’t divided, you will not be able to enjoy any of the legal or liability protection for your personal assets. If things go south, you could end up being personally liable for any lawsuits that call for damages against your business.

 

Building a good business credit score matters!

Anyone who has recently started their own business knows the importance of building a business credit score. While you may have ample knowledge about building your personal score, building your business credit score is an entirely different ball game based on many different factors, one of them being how responsibly you use your business credit card. Not only this, but once you start to build your business credit, you automatically invest in its future by creating more affordable financial possibilities for your business. Maintaining a good business credit score helps new entrepreneurs in several ways. From negotiating with your vendors to obtaining reasonable terms on your business loan is all dependent on how you maintain your business credit score. Not only this, but a good business credit score can also improve your personal credit in the long run.

 

Enjoying a higher spending limit

Another reason why every business owner should invest in a business credit card is the “spending limit.” Credit card companies offer a higher spending limit on a business credit card than a personal one since they are well aware of the fact that businesses will most likely have to spend more than what an individual does. That means you likely won’t have to max out several credit cards to cover all of your business expenses.

 

Acting as a financial safety net

As a newly established startup, you will most likely have to fight many battles on different fronts. One of these is learning how to deal with inconsistent revenue and unexpected purchases while balancing your cash flow. Moreover, since startup costs can be quite fickle, you can’t always depend on a large sum of savings to cover them. Having a business credit card can come in handy in such times and be used to cover unexpected expenses while giving you the time to move around funds and pay them off by your next payment period.

 

Provide a means of low-cost financing

A business credit card is quite similar to the traditional forms of business financing, such as a business credit or even a line of credit. By obtaining a business credit card, you are essentially borrowing money for some time and then paying it back later with interest. Nowadays, to help startups flourish, many credit cards also act as low-cost or even free financing, thanks to introductory periods with a 0 percent APR.

 

The opportunity to earn benefits, rewards, and perks

Just like your personal credit card, a business credit card also offers businessmen a number of rewards, perks, upgrades, and benefits that can either offset some of the cost of your purchases or make running a business more enjoyable. Although every business credit card may differ, a vast majority of them offer points or cash backs on purchases like airfare, social media, and even office supplies. Not only this, but many also offer travel and cell phone insurance, car rentals, and even subscription discounts on business tools like G Suite and Salesforce. As a result, with every purchase you make from your business credit card, you earn a slight discount which may even turn into a sizeable one if utilized effectively.

 

The Bottom line

Remember! As an entrepreneur who just started with their first startup, your finances are most likely limited. While you may have some investment or even personal savings, or even a startup loan, owning a business credit card allows you to enjoy financial flexibility. At the same time, you build up your financial resume and get your ducks in a row. All this, coupled with the vast array of rewards and perks offered by a business credit card, is more than enough reason why every business owner must invest in a business credit card. So go ahead and choose from these top business credit cards for startups. After all, it’s your first step towards ensuring your business’s success. 

After the pandemic hit more people began working from home which led to a sharp rise in virtual meetings. One popular video conferencing platform often utilized by companies in today’s ever expanding remote work environment is Zoom. Understanding the dos and don’ts when it comes to having a successful virtual meeting is more important now than it has ever been.

These 7 steps will help ensure a more successful Zoom Sales Meeting

 

 

1. Create a Meeting Agenda

Before you join your meeting you should have some idea of what you are going to discuss. This will ensure that you do not leave out anything of importance and that you are adequately able to fill up your meeting time. Having an agenda will also allow your meeting to be more structured and help to encourage more effective discourse.

 

2. Send Email Invitations and Reminders

Sharing your zoom meeting link is just one way to allow your participants to join. A much more effective method is to send out the meeting invitations directly to your participants inboxes. This will also allow you to send out reminders to everyone which will lead to less absences and tardiness to your meetings.

 

3. Utilize a Virtual Background if Possible

When you consider that most of these virtual meetings are now taking place at your home office it is still important to maintain a level of professionalism. One way to do this is to utilize virtual backgrounds which can easily be uploaded in your Zoom settings. This will help portray the idea that your team is still working in an office even if that office is at home.

 

4. Ensure Your Meeting Environment is Distraction Free

While most desktop and laptop computers today have the ability to allow you to add virtual backgrounds to your Zoom meetings, not all of them do. In any case it is important that your meeting environment be free from distractions. Find a quiet place away from outside sounds so that you and your participants can fully engage in the meeting.

 

5. Join Your Meeting a Few Minutes Early

As the host of your Zoom sales meeting it is a good idea to join a few minutes early. This allows to check that you everything is set up properly and that you have no technical difficulties in order. Take a couple of minutes to prepare any notes before you begin.

 

6. Get Your Meeting Participants Engaged

You want o have your participants engaged and involved with the discussion. Start with an introduction by asking everyone how their week has been before diving into the first item on your agenda. As you’re going through your meeting be sure to stop every now and then to ask for feedback or input from participants. Finally, end the meeting by asking if anyone has any questions, comments, or concerns.

 

7. Utilize Feedback to Improve Future Meetings

Use what you learn from your meetings for future meetings. Keep what is effective and throw out anything that may be hindering your Zoom sales meetings. Incorporate feedback and input from participants to optimize your agendas for future meetings.

 

Here’s to a More Successful Zoom Sales Meeting

This article doesn’t examine all the technical ins and outs of Zoom. However, you should now be more prepared to lead a successful Zoom sales meeting.

There was a time when most businesses saw content as something that customers engaged with only during specific phases of the buyer’s journey. Today, companies realize that the concept of sales enablement is imperative for their success. As a result, more and more companies acknowledge the critical role that high-value content plays at every stage of the buyer’s journey, particularly the selling process. Recent surveys indicate searches for “sales enablement” have grown by 51% since last year and continue to rise despite all odds.

 

So, what is sales enablement anyways?

Sales enablement can be best explained as a strategic approach that aligns a business’s sales, marketing, and operations with equipping the sales team with the right resources, tools, and processes, which would lead to increased sales. It allows marketing and sales to create shared goals and interests. By working together, they identify the pressing concerns and questions of the customers that might be raised during the buyer’s journey and then involve the marketing team to create content that will provide the most benefit to your organization.

 

Why is having a sales enablement strategy so important?

Companies have been noticeably chasing goals more competitively with greater pressure to achieve sales than ever before in today’s aggressive business environment. If your sales team does not have the right tools, information and resources, the chances are that they will run into obstacles and challenges. To overcome this predicament, sellers today need readily available access to internal resources, data about the product they’re selling, and insight into their potential customers. Additionally, sales leaders need to understand how sellers use the information and what resources drive results. This is where an effective sales enablement strategy is beneficial.  

 

Recent studies also indicate that the buying behaviours have significantly shifted over the past few years, resulting in significant friction while decision making and the resultant lengthening of the deal cycles. All this evidence has convinced sellers that their current sales strategies, content and tools may not be enough to get the job done. Revisiting and revising your sales enablement strategy is what needs to be done to increase sales.

 

So now that you understand the basics of sales enablement, let’s look at some quick yet effective tips for creating a modern and evolved sales enablement strategy so that you can increase your sales and improve win rates in no time.

 

Tips for creating modern sales enablement strategy 

  1. Bringing sales to life!

The more buyers interact with a company, the more opportunity sales representatives get to outshine competitors. The trick is to bring the sales content to life. To ensure an engaging and successful buying experience, both the sales and the marketing teams need to be prudent with their content copy and design. Not only this, but sales reps must make sure that every interaction with the client counts. The content copy itself should reflect a high level of expertise and must speak directly to buyers’ needs by offering a challenge-based narrative. 

 

The design of the content also plays a pivotal role, especially in today’s new hybrid business environment. Linear and static presentations just won’t cut it anymore. Your designs must be animated and interactive to draw the buyer’s attention and speak to them directly. Ease of access to pricing and other relevant information should be a priority!

 

  1. Effective Collaboration and communication

Developing a sales enablement strategy and implementing it works best if you have a dedicated sales enablement team. In fact, by doing so, companies have 67% more chances of becoming better at closing deals.

 

However, a successful sales enablement strategy requires the zeal and enthusiasm to collaborate and communicate proactively. There needs to be ongoing communication between the sales reps and the marketing team. Suppose your company’s sales enablement team doesn’t encourage teamwork, collaboration and feedback. In that case, the entire framework of the sale enabling strategy can fail, thus resulting in wasted time, money, and resources.

 

  1. The Importance of Differentiating Content

While sales and marketing are the two major players but revenue team of a company must also help in aiding and facilitating every step of the process. The best way to do this is by creating differentiating sales content. Companies must focus on creating content for buyers and personalizing it. They need to concentrate more on telling stories that buyers want to hear instead of sending across messages that the company thinks are important. More importantly, businesses must clearly and consistently communicate the value of their product to buyers.

 

Part of creating differentiated content is conducting manual audits at regular intervals. Companies and businesses must keep an eye on which content is working and what isn’t. They must determine whether the content is helping the team to move the deals forward or not and contributing to the revenue earned. If the content is no longer relevant or not enabling the sales team in any way, then it should be updated or discarded altogether.

 

  1. Delivering the right justifications

Since buyer executives and finance decision-makers need financial justifications. Thus, the sales enablement teams must leverage different ideas to keep them engaged. This may include customer case studies, ROI calculations, third party proof points etc., which demonstrate a clear influence on revenue, productivity, costs and risks, and by quantifying the value through the cost of inaction. Nonetheless, the buyer must understand and value the economic impact of the purchase in consideration to render it worthy and of value.

 

Moreover, Organizations, especially the sales enablement team and sales rep, must proactively look for opportunities to tout what would happen if buyers don’t act or miss out on sales. This could be anything from cost savings to process improvement to even risk avoidance.

 

The bottom line!

Remember! A successful sales enablement strategy improves the entire content process, increases collaboration, enhances alignment, and unlocks insights that lead to better-informed business decisions. Being interactive, value-focused content and creating a platform beyond just content management might sound a bit overwhelming, but it is vital for success. Sales enabling teams that can personalize and create an almost mesmeric and captivating buying experience are the ones who will own the future. Thus companies should try to harness the power of modern sales enablement strategies to differentiate themselves and shine through with larger buying committees. 

 

Have you ever wondered why some businesses thrive while others fail even though both face the same opportunities and setbacks? If you are still speculating, then the answer to your question is successful leadership. Successful leadership is all about the motivation and enthusiasm to strive for a bold course of action or a vision even when the rest of the world doubts you and wonders why you’re not following the status quo. 

 

Indeed, not everyone is cut out to be a leader in today’s day and age. Studies indicate that almost 24% of the employees actively disengage from their work every year due to poor management and ineffective leadership. So if you are considering what authentic leadership looks like, then below are a few qualities of a successful leader that every business person and CEO must strive for.

 

It all begins with a vision.

A successful leader always begins with a vision. They create a vision for their organization, articulate it and relentlessly drive it to completion. Moreover, they visualize the future themselves and go above and beyond to share their vision with their team. One of the most important qualities of a successful leader is sharing their vision, strategy, and plan to achieve this vision with their team. By doing so, they involve the entire team in turning this vision into reality. 

 

Maintaining a Flexible Outlook

Being a successful leader is all about being adaptable to any given situation. Whether you encounter a roadblock or a considerable obstacle, having a mindset of change allows one to be more receptive to new ideas leading them towards opening new doors and bringing success to the table. Thus, when you put on the leadership hat, always be prepared to stop and reassess any given situation. After you have done that, determine the best course of action under the given circumstances. Remember! When all is said and done, leaders face challenges and maintain a flexible attitude instead of falling prey to the stressors and the uncertainties. Not only this, but they also try to inspire the same level of adaptability within their team and help steer them towards success.

 

Self Reflection is the key!

Another essential quality of a successful leader is self-reflection. Self-reflection is all about devoting time to contemplate your current skills, strengths, weaknesses, flaws, behavioral patterns, and how you seek to influence others. Leaders tend to self-reflect by reassessing their capabilities. They make conscious efforts towards exploring their defined goals and ambitions to increase their self-awareness, alignment, authenticity, learning, and growth. After all, your key responsibility is to be the best possible leader you can be, instead of trying to fit into a mold set by someone else. Several studies also prove a direct correlation between self-reflection and successful leadership. The more reflective you are, the more effective you are!

 

Harnessing the power of words to communicate effectively

It has often been said that words can motivate people and make them do the unthinkable. Another quality of a successful leader is being a good communicator. Until you communicate with your team and learn about their apprehensions or shortcomings, you will never help them overcome the obstacles they face within their departments. A successful leader always maintains a welcoming demeanor. Not only this, but he also shares his vision with the team and tells them the strategy to achieve the goal. Only by working together towards a shared goal can you lead your team towards success.

 

Gearing up to be innovative!

Steve Jobs once said, “Innovation is what distinguishes a leader from a follower.” To get ahead in today’s fast-paced world, a leader must be innovative. After all! Creative thinking and unvarying innovation are what gives you your USP and make your business stand out from the crowd. So think out of the box and come up with unique ideas. Once you are there, turn those ideas and goals into reality.

 

Trust and dependability

President Dwight.D.Eisenhower once said, The supreme quality of leadership is unquestionably integrity.” Without it, no real success is possible! Trust, integrity, and dependability are important ingredients for making a successful leader. By displaying these traits in your work and demonstrating them by how you interact with your team, your team members develop trust in you. Over time, your team learns to value you as their leader and know that they can depend on you to support them through tough times and help them meet both shared and individual goals.

 

The subtle art of delegation

As human beings, it is nearly impossible for one man to do everything, not even the CEO of a multinational or a business owner of a small business. This makes it important for leaders to focus on the key responsibilities while delegating the rest to others. One of the most important qualities of a successful leader is empowering their team members and effectively delegating tasks to them. Delegation, however, can sometimes be quite tricky. Suppose you continue to micromanage the tasks assigned. In that case, your subordinates will develop a lack of trust. More importantly, you will not be able to focus on important matters. Instead, a better approach is to equip your team with all the necessary resources to achieve their goals and then offer all the support you can. You’d be surprised how well your subordinates perform once knowing that they have your support!

The Accountability factor!

Accountability is yet another quality of a successful leader. A leader always makes sure that every one of his team members knows that they are accountable for the job assigned to them and even pat them on their backs for carrying out their responsibilities. However, every once in a while, when a team member struggles or makes a mistake, a true leader never faulters to help them realize their mistake and work together to improve it. Holding them accountable for their actions will create a sense of responsibility amongst subordinates. They will go about the business more seriously.

 

Final Verdict!

Remember! There is no one size fits all approach to being a successful leader. However, leading businessmen and success coaches from around the world agree that leaders who have proven themselves to be successful all had the qualities mentioned above instilled in them, which allowed them to steer their businesses towards success.