sales Archives - A Million Lives

August 22, 2018 by Greg Underwood

6 Ways to Win Over Your New Clients

Once you’ve won a new client’s business, you’ve also won their trust. Using a good business proposal, proving your expertise, and having a cost-effective retainer helped you land the job, but you were also chosen because the client felt they could trust you.

As with any relationship, trust is an integral factor to helping both sides work together to achieve objectives. This is especially true in professional collaborations with clients, especially at the outset. Here are six ways you can win over your clients right from the start, and ensure a long-term, mutually beneficial partnership.

Be professional

This is a given, but it’s always good to be reminded about the basics of acting professionally in a business relationship. For example, show up to meetings on time; getting there before the client does is even better. Also, communicate clearly and in a timely manner. When the client calls, pick up the phone. When they email with a question, respond as quickly as you can with a well thought-out response. When a deadline has been set for a project, be sure to do everything you can to meet it. If you see that you might need more time, ask for it with as much notice as possible, as it might impact other people’s schedule.

Be a true partner in their business

When business is good, life is good and everybody’s happy. But when the going gets tough, that’s when the client needs to know you’re there to support them and that you’ll do what it takes to deliver results.

There’s really just one approach to achieving a true partnership, and it’s to have the client’s best interest in mind with whatever you do. Don’t just be a foot soldier waiting for orders; be proactive and see past what’s in front of you. For example, show dedication with the project you’re working on, but also have an eye on the future with regard to the client’s bottom line.

Moreover, ask probing questions that show the client you are genuinely interested in their business and the many ways you can help. Counsel them when needed, as you were hired to be an expert in certain areas of the business that they’re lacking.

When you’ve become a true partner with your client, their problem becomes your problem, but their success hopefully is a direct result of having you on their side.

Get as much face time as possible with the client

A proven way to get in the same mindset as the client is to spend time at their office. We’re not talking about normal face time during weekly and monthly meetings, but actually working on-site at the client’s. Set aside a few days each month to do so, especially if your office is close enough to the client’s that you can drive there. By immersing yourself in their day-to-day operations, you can benefit from spontaneous conversations with other employees that can help you do your job better.

Think like the client

Acting like a true partner with your client is one thing. Before you know it, you’ll start thinking like them – and that’s a good thing. Developing a client-oriented way of thinking demonstrates that the client can trust you with their operations. Be proactive with ideas and suggestions about a project you’re working on, and certainly take the initiative to bring up a potential problem that needs to be addressed. Eventually, you won’t be anticipating the client’s next thought – you’ll just automatically think it! When you get to this point, the client will recognize it and view you as more than a contractor, but a true ally.

Follow through on your promises

Winning the client’s business was the easy part. The real work began once you signed the working agreement. Always be mindful of what was in the RFP and the responses you gave in the business proposal, as these are the promises you made to the client should they award the job to you. If you don’t follow through on your promises or go against what you discussed in the business proposal, the client will think twice about whether they can actually trust you to do the job.

Be accountable – especially when you make a mistake

Mistakes are still bound to happen, no matter how organized and detail-oriented you try to be. This could be anything from missing a project deadline to a clerical error with billing. It’s simply human nature to mess up every now and then, so clients are willing to forgive an infraction as long as it wasn’t done maliciously. So, we suggest owning up to any mistakes you make as soon as you or the client discovers it, making sure to be transparent when discussing it with the client. Moreover, view the mistake as a learning experience for you and your team, so that it doesn’t happen again.

While winning a client is one thing, keeping them in their good graces is another thing entirely. However, if you’re able to stick to the commitments you set at the start of your engagement, winning over your new clients isn’t as hard as many imagine it to be.

May 5, 2018 by Greg Underwood

7 Things You Should Know When Filing Business Taxes Online

Filing your taxes can seem like a daunting task. Here are 7 things you should know when filing business taxes online. What are your tips to filing taxes online?

If you’re like most, you’re probably wanting to make your money go farther, but alas, there are taxes to be dealt with. As much as we’d like to ignore them, they have to be paid.

As a business owner, you should consider filing business taxes online. You have to be even more meticulous with taxes than individuals do, but with online filing, you can reduce the amount of paperwork you have lying around.

If you’re an employer, you’ll need to handle certain taxes for each person you employ. If you are self-employed you’ll run into different requirements.

Filing taxes on your own can be tricky, but it doesn’t have to be. As long as you know what you’re doing filing business taxes online shouldn’t be difficult.

Would you like to successfully file your business taxes online? Read on for seven things you should know.

1. You Must Be Aware of Deadlines

Tax deadlines should be strictly adhered to by business owners. But don’t default to thinking your taxes are due when the rest of the population’s are. You may be surprised to learn that some types of businesses have different tax deadlines.

April 15 is the general date for individuals to file, and that does apply to some businesses. But it doesn’t apply to all. If you’re a sole proprietor or single-member LLC, your tax filing deadline will be different than the one for partnerships or multiple-member LLCs.

Be aware that your tax deadline may be earlier than the standard date. Plan ahead throughout the year so you won’t be surprised when the deadline arrives.

If you pay estimated taxes, you must pay regularly throughout the year. You’ll make one payment per quarter. In order to make these payments on time, you must be aware of each year’s quarterly payment due dates.

If you don’t pay estimated taxes, your taxes should be withheld automatically throughout the year.

Missing tax deadlines results in penalties and fees. Since you don’t want to get hit with those, be on top of things and don’t file late.

2. Understanding Tax Terms is Important

It’s awfully hard to file your own taxes when you don’t understand the tax lingo. Business owners should be familiar with tax terms throughout the year and at tax time.

Here are some common terms you should know:

Withholding

This refers to taxes that are withheld from employees’ paychecks by the employer. You’ll do this throughout the year for both federal and state taxes.

Tax Credit

Tax credits are items that help you lower the amount you owe in taxes. Some credits are provided specifically by the government. For example, solar-powered businesses receive a tax creditfrom the federal government for helping the environment.

Deduction

Deductions also help reduce the amount of taxes you owe. They do this by lowering your taxable income.

Throughout the year you can deduct certain things from your income, which lowers the taxes you’ll have to pay. Business expenses and charitable donations are common deductions.

If you work from a home office you can likely deduct business expenses. Paper, printers, computers, and ink all fall into this category. If you bought it for your business, try deducting it.

Business travel and auto expenses may also be deducted.

3. You Need to Understand Tax Form Types

Knowing your way around different types of tax forms is essential to filing your taxes correctly. You’ll likely need to understand more form types as a business owner than you would as an individual.

When filing your business taxes you need to make sure you’re using the correct form.

A sole proprietor must file Form 1040, along with a Schedule C. A partnership must submit a Form 1065.

Corporations need to file either a Form 1120 or Form 1120S, depending on their type of corporation.

Besides the form you submit as an employer, you’ll also need to understand the forms that deal with those who receive money from you. This must be done correctly if you want to have all the right information at tax filing time.

Common forms you may need as an employer include:

W-4: Have all employees fill this out so you know how much tax to withhold throughout the year.
W-2: This is the form you’ll send to the IRS and to employees to report the amount of taxes withheld from each employee’s income.
W-9: If you provide income for any independent contractors, they must fill out this form to provide you with important tax information, including name, address, and tax ID.
1099-MISC: This is the tax reporting form you’ll send out to all contractors who earned $600 or more from you during the year.

Keep track of each of these documents for every employee or contractor if you want to have an easy filing experience.

4. There Are Multiple Methods of Filing Business Taxes Online

Various options exist for paying your business taxes online. UltimateTax and other companies providing tax software may be a good option for you to consider. This may especially be nice if your taxes are a bit complicated.

Talking to a professional can be very helpful, since business owners with employees are responsible for several taxes, including Social Security, Medicare, and Federal income tax withholdings.

Research each option and go with one that you feel comfortable with. Online programs come with various price tags, benefits, and services.

You can also skip the middle man and pay your business taxes directly through the IRS website. Their site provides many options for filing your taxes online.

5. You Might Want Help

Before filing your taxes online, make sure you have the knowledge to do so correctly. Taxes can be tricky, and though filing online may be convenient, you want to make sure it’s done right.

If you’re confused, consider using a professional. More than 1.2 million returns were audited in 2015, so it’s better to play it safe than assume you know what you’re doing.

Understand your responsibilities as an employer. If you provide income to independent contractors, you’ll need to pay attention to each contractor and their earnings.

If you’re self-employed you’ll likely have to pay self-employment taxes. Make sure you calculate these to the best of your ability and pay the estimated amounts quarterly. Prepare by looking ahead so you don’t miss any deadlines.

If you’re confused about any aspect of filing your business taxes, you can still file online, but you should probably seek some help.

6. All Information Must Be Correct

Before submitting your tax documents, make sure all information is correct. You’ll likely have a lot more information to track when paying business taxes as compared to personal taxes.

Know each employee or contractor’s tax identification number and double check that they are correct. Make sure names–including spellings–match Social Security numbers while you’re at it.

Audit yourself to make sure all your calculations are correct. Do this when considering taxable income, withholdings, estimated tax payments, credits and deductions, and any other numbers that may be involved.

Make sure your math was done correctly! You don’t want your return to have errors in it.

Verify that all information is in the right place. Make sure everything is on the right line and that all required fields are filled in.

You’ll also want to make sure that your bank information is correct so you can receive any funds that will be sent your way once you file.

7. Tax Records Should Be Kept

As you wrap up filing your taxes, don’t forget to keep all records associated with your filing! In general, tax papers should be kept for at least a few years. You’ll want to keep them around for your reference, as well as any audits that may come your way.

You’ll also be glad you kept these around if any changes are sent to you after you filed your taxes.

Keep these files organized and in an easy-to-access location. Also make sure they are secure since they’ll include sensitive information, such as Social Security numbers.

For a less-cluttered way of keeping your tax records, consider saving digitized copies. Just make sure to save multiple copies or backup your records often so you don’t lose them accidentally.

Get the Job Done

You want your business to run as smoothly as possible. With that comes knowing how to properly handle taxes.

When tax time comes around you don’t want to be scrambling. Send out all required forms in a timely manner and organize all those you receive.

Business taxes can be daunting since so many numbers may come into play, but filing business taxes online doesn’t have to be hard.

Use an online program to help you organize and submit your taxes if needed, and follow the guidelines set forth by the government. As long as you understand the requirements for your business and keep things organized, filing your business taxes should be a breeze.

Did you find this information helpful? Let us know by contacting us today!

May 4, 2018 by Greg Underwood

How to Dramatically Improve Your B2B Sales

Your business will no doubt be up against much competition in the market. It is therefore important to connect and retain loyal customers to become a leading player in your industry. If you want to make 2018 the year, you transform your business, learn how to improve your B2B sales.

Quickly Build an Email Address List

Did you know 71% of B2B researchers start their online research using a generic, time-consuming Google search? You can, therefore, gain an advantage over your competitors by becoming a little more tech savvy. For example, you can visit theemailfinder.co to type in a domain name and quickly gain access to a company’s contact information, such as their email and phone number. You can then add the details to your database before sending a professional pitch.

Create a Mobile Responsive Website

Shockingly, only 50% of B2B organizations provide their visitors with a mobile responsive website design. As a result, this can provide a poor user experience that could lead to a loss of sales, a poor reputation, and a lower search engine rank. With more than half of companies failing to incorporate a responsive design on their website, it could be the key to gaining an advantage over your competitors.

Utilize the Best Social Media Platforms

Are you aware that more than half of B2B buyers are millennials? Traditional marketing tactics will therefore not be the answer for connecting with your target customers. If you want to increase your conversion rate, you must utilize the power of the best social media platforms. For instance, 60% of people stated they have experienced excellent B2B results from LinkedIn, which is why 94% of B2B marketers use it as a primary marketing tool.

Instagram is also another channel worthy of your consideration. Not only does it have more than 300 million daily users, but only 33% of B2B brands are currently using the platform, so the right campaign could give you a competitive edge.

Stop Cold Calling

Modern businesses don’t have the time to listen to talk to cold callers, as they have more pressing tasks on their list than listening to random pitches. If you want your target customers to listen to you, you would be wise to do a little research to identify how likely they are to hear you out. Learning the different ways you can help a business can also help you to establish a better relationship with a prospective customer. So, stop cold calling immediately and start researching.

Differentiate Your Brand from Your Competitors

Businesses want to buy from dependable, forward-thinking companies. If your brand looks like just another business in your field, you’ll fail to capture their attention, and they’ll go elsewhere. It’s crucial to focus on what makes you unique to differentiate your brand from your rivals and convince a company to do business with you. So, focus on developing a distinctive brand, unique tone of voice, and compelling marketing campaigns to stand out in a crowded market.