Business owners looking for funding sources are likely to converge on two options: business credit cards and business loans/lines of credit. In this article, we’re going to be comparing these two common sources of business financing and letting you know the circumstances that call for utilizing them.
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If you’ve arrived at this post because your business has been affected by the COVID-19 pandemic, we’ve got resources on business lending for you. Check out our full Coronovirus hub for small businesses, but start by reading What SBA Disaster Loans Are & How To Qualify For One and Small Business Loan Resources & Guides for Businesses Affected By The Coronavirus.
Credit Cards VS Business Loans: A Quick Comparison
There are some fairly obvious differences between business credit cards and business loans (total funding amount, revolving line of credit vs. a one-time lump sum of cash, etc) as well as some less obvious ones. Let’s examine the situations that call for using a business credit card vs. applying for a business loan or line of credit.
When To Use A Business Card
Let’s list the circumstances that favor the use of a business credit card over a business loan.
1) You Need Financing For Common Ongoing Expenses
Given the fact that a) you can usually get funding more quickly with a business credit card and b) the funding you can access via a business credit card is significantly less than what you can access with a loan, a business credit card is a better way to get working capital for everyday business expenses.
Because a credit card provides you with a revolving line of credit, you won’t be borrowing more than you need — and you won’t be paying interest on money you don’t need.
2) You Want To Pay 0% Interest (for a while)
Many business credit card issuers offer an introductory 0% APR period with their credit cards. The 0% APR period typically lasts 9-12 months, but you can find offers that extend this period to 18-21 months in certain instances.
This is especially useful for business owners who intend to make some significant purchases in the short term. Credit cards offering a significant 0% APR period can end up saving you lots of money on interest payments.
3) You Want To Build Up Your Business Credit
One helpful feature of just about every business credit card is the fact that they report your card activity to the three major business credit bureaus (Dun & Bradstreet, Equifax Small Business, and Experian Business). If you make your payments in a timely manner and maintain best practices with your credit utilization ratio — that is, the amount of credit you’re currently using divided by the total amount of credit you have available — using a business credit card can help build up your business credit.
Of course, there’s a flip side to this. If you don’t make a payment as required — or if you utilize a greater proportion of your credit than the credit bureaus like (less than 30% is generally considered good) — use of a business credit card can actually hurt your business credit, so be careful and don’t spend more than you can afford to pay down.
4) You Want To Earn Rewards/Cash Back For Your Spending
Most business credit cards are designed to have you earn rewards or cash back when you use the card to make purchases. You may even be able to find a card that targets its highest reward-earning at the purchase categories your business uses most.
If you’ve decided to get a business credit card, pay particular attention to the rewards scheme offered by the card issuer. This way, you can get the card that gives you the most value back in the form of reward points or cash back.
We’ve compiled a list of the best rewards credit cards for small businesses.
5) You Want Help Tracking Your Business Expenses
With most business credit cards, you’ll get a monthly billing statement that details your transactions for the month. Many of these cards also allow you to link to accounting software, giving you another way to track your business expenses in real-time.
When To Use A Small Business Loan
Now, let’s get into the circumstances that call for the use of a business loan or line of credit.
1) You Want To Finance A Large Expense (Up To $2 Million)
While credit cards are useful for financing smaller purchases, if you want to finance expenses worth up to $2 million (you can even get up to $5 million with an SBA loan, though those are difficult to qualify for), you’ll want to apply for a small business loan.
A loan will likely be needed if you’re looking to expand your business in a significant way.
2) You Want To Minimize Your Interest Payments On The Money You Borrow
When comparing business loans to business credit cards, it’s important to note that, all else being equal, you can get a lower interest rate with a loan or line of credit than you can with a business credit card.
With an online lender, a business with a good credit score and healthy business metrics can get a loan with an APR starting around 6% — or a line of credit with an APR around 8% — which is a significantly lower APR than what you’ll be offered with even the most basic business credit card.
3) You Want To Repay What You Borrow Over A Longer Stretch Of Time
Online lenders often offer loans with term lengths of up to 7 years. SBA loans can even carry term lengths of up to 25 years. Suffice to say, if you want to borrow a significant sum of money and you’re looking to spread out repayment over a significant length of time, a business loan is the way to go.
A Word Of Caution Regarding Business Loans
When comparing business loans with business credit cards, it’s important to note that requirements to qualify for a business loan are more stringent than the requirements to qualify for a business credit card. You’ll likely need to provide collateral, and for large loans, you might need to make a significant downpayment.
Another factor to consider: You can get funding more quickly with a business credit card than you can with a business loan/line of credit. You might be waiting a few weeks or longer for funding from a business lender. If you apply successfully for a business credit card, you should be able to get funded within a week.
That said, there are options for quick business loans if you apply online.
Which Is Right For Your Small Business?
In conclusion, when deciding between applying for a business credit card or a business loan to cover the cost of your business expenses, it’s important to consider your particular business situation and funding needs.
If you need more than $50K in funding and you have the ability to qualify for a loan — and are able to provide collateral and a downpayment — you should definitely start researching business lenders.
If you need less than $50K, you want to borrow money at 0% interest in the short term, or you want to earn rewards for your purchases on a continuous basis, you’ll want to apply for a business credit card. However, if you only need a small amount to keep you going and don’t want to mess with a credit card, there are options for $5,000 loans and $10,000 loans.
Next Steps
If A Credit Card Is The Right Choice For Your Business…
If you’ve decided to apply for a business credit card, here are some resources to help you in your search:
How To Get A Business Credit Card: The Step-By-Step Guide
The Best Business Credit Cards For 2020
Business Credit Cards For People With Bad Credit
If A Small Business Loan Is The Way To Go…
If a small business loan is what you need, check out the following links to help guide your search:
How To Get A Small Business Loan: The Step-By-Step Guide
Types Of Small Business Loans: 12 Types You Should Know
Best Small Business Loans For 2020: Our Top 10 Picks
Again, if you’ve arrived at this post because your business has been affected by the COVID-19 pandemic, we’ve got resources on business lending for you. Check out our full Coronovirus hub for small businesses, but start by reading What SBA Disaster Loans Are & How To Qualify For One.
The post Need Small Business Funding? When You Should Get A Business Credit Card VS A Small Business Loan appeared first on Merchant Maverick.
Purchased as Beam by Microsoft in 2016 and rebranded a year later, Mixer has long played second fiddle to Twitch in the world of video game streaming platforms. However, the lesser popularity isn’t all bad. Because Mixer has fewer broadcasters and viewers than Twitch, it may be easier for new streamers to stand out in the crowd.
Plus, Mixer has also been making waves recently. In August 2019, the platform lured Twitch’s top streamer, Ninja, away from its Amazon-owned competitor. A few more big-name streamers — notably Shroud and KingGothalion — followed in Ninja’s footsteps later in the fall. With exclusivity deals in place with these streamers, Microsoft has certainly lined Mixer with some deep pockets.
Despite the success of a fortuitous few, achieving the dream of making money off of playing video games still takes hard work and dedication. Most new streamers will struggle to collect a consistent paycheck without putting in a fair amount of effort and a little bit of luck.
Is Mixer the right place for you to make money off your streaming career? Keep on reading to find out!
How Streamers Make Money On Mixer
Streamers can make money on Mixer through several avenues. The platform does offer a partner program that enables viewers to reward their favorite streamers with “Skills,” “Sparks,” and “Embers” (which can then be converted into cold hard cash by the streamer). However, Mixer’s requirements to get into the partner program are rather stringent.
As such, most Mixer streamers will want to try earning money via third-party services. Examples here include donation platforms, merchandise, sponsorships, and affiliate linking.
How Much Money Can You Make From Mixer?
The amount of money you can make on Mixer depends on how big your following is. With this in mind, most new streamers won’t be earning very much money — it takes time and effort to grow an online community. And while some may eventually be able to break into banking six figures a month, most will not. Because the amount you could potentially earn depends on your audience size, it’s difficult to gauge just how much money you might be able to make from Mixer. In all likelihood, you won’t be earning a living wage — at least at the very start.
All that said, Mixer definitely has the money to throw around. When the platform poached Ninja from Twitch in 2019, the streamer was reportedly paid between $20 and $30 million to switch over. Of course, not everyone will be able to reach the same level of clout and celebrity as Ninja. It is simply unlikely that your average streamer will be making tens of millions off their streaming career.
What is easier to gauge is how much money you might make from individual contributions by viewers. Embers — one of Mixer’s in-house currencies — will net a streamer $0.01 for every one used on Skills during their stream (Skills are basically just emojis and GIFs viewers can use within a stream’s chat log). That means if your viewers purchase a number of Skills worth 1,000 Embers during your stream, you’ll collect a tidy sum of $10.
Partners: Mixer’s Monetization Program
Mixer’s partner program allows streamers to natively earn money through the platform. This program won’t be for everyone, however. There are fairly strict requirements that will restrict new streamers from qualifying.
How Mixer Pays Its Partners
Mixer pays its partners through Sparks and Embers, both of which act as a form of currency for the platform. Note that Mixer does not currently have a paid subscriber system in place, unlike Twitch (there is a Mixer Pro subscription available, but a viewer’s money won’t be earmarked for a specific streamer).
Sparks — which viewers earn through watching Mixer content — can be used to trigger Skills on your channel. Once enough viewers have collected Sparks through your channel and launched Skills, you’ll be able to cash out your earnings for actual cash. Unfortunately, Sparks and Skills don’t have an easy-to-calculate dollar value.
Embers, as mentioned above, do have a calculable dollar value. Embers can be used by viewers to purchase premium Skills. For every Ember a streamer earns via unlocked Skills, they collect $0.01 in real-world money. Unlike the watch-to-earn Sparks, Embers must be purchased by viewers.
How To Register As A Mixer Partner
To become a Mixer partner, you’ll need to apply through the partnership tab in your dashboard. Note, however, that Mixer does have a set of requirements you’ll need to meet before going through with an application. According to Mixer, the minimum metrics required for partnership are:
An account that’s two months or older
2,000 followers or more
12 days or more per month with streams
25 hours streamed per month
Note that even if you meet the above criteria, you might not be approved for partnership because Mixer also looks at a channel’s quality and may reject those who lack proper “Professionalism, Uniqueness, and Community Building.”
Should you already have a successful brand on a different platform, you may be able to become a Mixer partner without hitting the above requirements. If you have 100,000+ views in the last 30 days on YouTube or you average 300+ concurrent viewers on Twitch, Mixer may consider your partnership qualifications outside of the normal application process. In some other cases, special exceptions might be made for celebrities or industry-related organizations.
Other Ways To Make Money From Your Mixer Following
Because becoming a Mixer partner isn’t the easiest thing in the world, you’ll probably want to consider a different route to earn money while streaming. Even if you are a Mixer partner, the options below could still prove to be solid moneymakers.
Donations
Setting up a third-party donation system can enable you to receive money directly from viewers without needing to worry about Sparks or Embers. PayPal, in particular, has a popular donation platform that many communities use throughout the internet.
You could also consider signing up for a membership platform, such as Patreon. You can receive monthly donations through these platforms in exchange for giving followers perks, such as exclusive Discord access, bonus content, physical merchandise, and more.
If you want to learn more about accepting online donations, Merchant Maverick has an article on the topic.
Merchandise
Selling products promoting your channel can be an excellent revenue source if you have an audience ready and willing to help spread your brand. Example products include such things as t-shirts, sweatshirts, and mugs. Numerous services exist online to help make merchandise a reality. Some of the bigger names include Teespring, Redbubble, and Zazzle.
Besides selling products with your channel’s logo, you can also reach out to artists (either on a site such as Fiverr or within your own following) to craft new designs that align with your audience.
Brand Promotion
Big brands often leverage the influence of popular streamers to promote their products. For the streaming world, this could be in the form of sponsorships or by playing a particular video game on stream for a set number of hours. The exact details of these sponsorship deals will depend on the brand and the individual streamer involved with the agreement.
For brand promotion to be successful on your channel, you’ll (unsurprisingly) need to have a sizable following. Of course, there may be situations where you can find a brand that aligns with your community’s particular niche. In this instance, you might be able to strike a deal without having thousands of viewers watching each stream.
Affiliate Links
If you are unable to get direct brand sponsorships, you might still be able to generate revenue by promoting products through an affiliate or referral program. These programs share a small portion of the profits each time someone clicks on a link you share and buys a product.
As an example, if you enjoy using specific accessories, hardware, or software during your streams, you could provide links to those products via the Amazon Associates program. Your viewers can then buy those products by clicking your link and giving you a bit of extra income.
A few specific brands operate their own affiliate programs. For instance, the gaming hardware company Razer has such a program that can share up to 10% of each sale to affiliates — this is a much better rate than you might get with Amazon Associates. If there is one brand you like in particular, it may be worth digging up info on whether or not they have an affiliate program.
GL, HF
All told, don’t expect streaming on Mixer to be a get-rich-quick scheme. You’ll need to put in a fair amount of time to set up a consistent streaming schedule and promote your channel’s brand. Plus, you’ll need to be patient as your following grows over time. On top of all of that, it will take some luck for you to start seeing leaps and bounds in viewership.
As such, focus on the fun aspect of playing video games. Gaming and streaming should ultimately be about having fun and making social connections — any money earned is only a bonus.
Want to learn more about streaming? Check out Merchant Maverick’s guide to making money on Twitch.
The post How To Make Money On Mixer: 5 Ways To Monetize Your Stream appeared first on Merchant Maverick.
Are you looking to start selling online? With the steady increase in popularity of online shopping, developing your own online store is crucial to ensuring you meet the needs and expectations of your customers.
But for many new online sellers (including those who already operate a brick-and-mortar business, as well as those who are just beginning), the costs of operating an online store can feel overwhelming. There’s the monthly subscription rate that you pay to your eCommerce platform, as well as the cost of transaction fees, payment processing, software extensions, and integrations.
Fortunately, you can ease some of the costs of opening an online store when you use a free eCommerce platform. Although you still have to pay for other expenses related to online selling (such as the cost of payment processing and software extensions), at least you won’t have to pay to use the actual selling software. This reduction in costs can lower the barrier to entry and help many businesses take the first steps to start selling online.
Free eCommerce software tends to come in two forms. Some software is available as a free plan on an all-inclusive cloud-based software. These free plans tend to give users the basic features they need for online selling while placing limits on product listings and advanced features. The other form of free eCommerce software is downloadable open-source software. This software is always free to use, and it does not limit its users in any way. That said, it is not nearly as user friendly as cloud-based software, and the software does not include web hosting or customer support.
It’s clear that each type of free eCommerce software offers its own advantages and disadvantages. Fortunately, both cloud-based software and open source software are great options for sellers who are looking to get started with a free eCommerce platform.
Best Free eCommerce Platforms
In this article, we’ll cover the best free eCommerce platforms on the market. Some of these options are free plans for cloud-based eCommerce software, while others are free open source eCommerce software. All of the free eCommerce platforms in this list meet our standards for security, available features, customer support, and usability.
Big Cartel
Best for makers and artists who plan to list only a few items at a time.
Big Cartel is a cloud-based online store builder that is designed specifically with artists in mind. Content creators and makers of all types use Big Cartel to establish a website, build out an online store, and sell their digital and physical products. Big Cartel is incredibly simple and easy to use, which makes it an excellent option for anyone who is new to online selling.
Additionally, Big Cartel is a great alternative to marketplace selling, and their free option makes it accessible for everyone. Using this free plan, sellers can list up to five products on their online stores, and they gain access to Big Cartel’s most basic selling features. Keep reading to learn more of what’s available with Big Cartel’s free plan.
Pros
Easy to use
Geared toward artists
Customer support available for all users
Cons
Limited products
Not scalable
Limited integrations
Big Cartel Pricing
In this article we will be focusing primarily on Big Cartel’s free plan, but it’s important that you know about their paid plans as well. Big Cartel keeps pricing for their plans fairly low, ranging from just $10/month to $30/month. Each increase in pricing gives users access to more product listings and features. At the highest level plan, sellers can list up to 300 products.
Big Cartel’s Gold (free) Plan includes all of the features you need for basic online selling, although it limits users to just five product listings.
The Gold Plan includes:
Five products
One image per product
Use your own domain
Google Analytics
Full code customization
Inventory tracking
Discount codes
Automatic tax calculations
Advanced tax settings
Product option groups
Features
As we’ve mentioned, Big Cartel is a simple selling solution. Its aim is to provide sellers with an easy-to-use platform, and part of the way Big Cartel accomplishes this mission is by including only the features that most merchants need to sell online. You won’t find any fancy bells and whistles here–just the basics. Here are a few of the features you can expect from Big Cartel:
Sell on Facebook
Inventory management
SEO features like plain-text URLs and automatic sitemap generation
Google Analytics
There are a few potential downsides to using Big Cartel. The first is the limited feature set and the reduced ability to customize your software. If you have a number of specific needs that you are trying to solve, Big Cartel might not be the right option. In addition, Big Cartel has a fairly small selection of extensions and payment methods. This further limits your ability to customize the software to suit your business.
Fortunately, Big Cartel does a good job when it comes to customer support. Although they do not offer any phone support, they do have a very good response time via email (we consistently receive replies in under two hours) and their self-help tools–such as the help center, the pre-recorded live classes, and the blog–are good resources for figuring things out on your own.Â
When To Use Big Cartel
We think that Big Cartel is best for small businesses and artists. Because of the limits on product listings, the free plan in particular is best suited to hobby sellers or artists who sell only a few pieces at a time.
WooCommerce
Best for small to mid-size businesses that want to add an online store to their WordPress site.
WooCommerce is an open-source shopping cart plug-in designed for use on WordPress. WooCommerce is free to download and use, and it allows you to easily add an online store to your existing WordPress site. With over 84 million downloads, WooCommerce is incredibly popular. The software currently accounts for 26% of the top one million sites worldwide.
Although WooCommerce is free to download, it isn’t totally free to operate. You’ll have to pay for your WordPress account, as well as web hosting, security, and extensions. That said, WooCommerce is still an excellent choice for many businesses. The open-source software is completely customizable and full of useful features for online selling. All-in-all, WooCommerce is one of our favorite open-source solutions. Keep reading to learn more about why we love WooCommerce.
Pros
Always free
Customizable
Scalable
Numerous integrations available
Cons
Limited customer support
Site hosting not included
Add-ons often necessary
Steep learning curve
WooCommerce Pricing
WooCommerce is an open-source WordPress plugin that’s free to download and use.
That said, there are a few expenses you should account for as you implement WooCommerce. You still have to pay for your WordPress site, along with your web hosting and domain name. You also will likely need to purchase a few add-ons and extensions for your online store. These add-ons range in price from free to hundreds of dollars. Fortunately, they are all available as one-time purchases.
Features
WooCommerce follows a Core + Extensions model when it comes to features. In an effort to keep the software easy to use, they offer only core features already built in. These core features include everything the average merchant needs to get started. Any advanced features are available as extensions. Here are a few of the core features that come built-in with all WooCommerce downloads:
Sell physical and digital products
Shipping calculator
Create coupons and discounts
Product reviews
Google Analytics
Although WooCommerce is a generally well-liked software, there are a few downsides to the platform. One downside is the learning curve that users must overcome. While it isn’t the most difficult software to use, it isn’t necessarily intuitive, and it will likely take some time to get the hang of daily use. What’s more, the cost of adding new features via extension can quickly add up. If you aren’t careful, WooCommerce could become more expensive than a cloud-based software with a monthly payment plan.
When it comes to customer support, WooCommerce is like most open-source software. There are very few options for personalized support from WooCommerce representatives. Instead, customer support takes the form of self-help resources. Available resources include a knowledge base, developer documentation, and a community forum. If you need personalized support, you can also hire a WooExpert to help out.
When To Use WooCommerce
We recommend WooCommerce to small to mid-size businesses. In particular, WooCommerce is best for businesses that want to add an online store to their WordPress site. WooCommerce works well for sellers who want a customizable solution and who don’t mind figuring things out on their own.
PrestaShop
Best for mid-size businesses that can handle a technical challenge and need a way to sell internationally.
PrestaShop is a open-source eCommerce solution with an international reach. PrestaShop allows users to sell their goods across the globe with multiple available currencies, languages, and international payment processors. As an open-source solution, PrestaShop is free to download and use, although you’ll still have to foot the bill for web hosting, support, and extensions.
PrestaShop is one of the more technically complex options on this list. In order to get the best use of the software, you need a solid understanding of code, or you need the resources to hire someone who can manage the technicalities for you. In exchange for this complexity, however, you gain access to a strong selection of features and customization. Keep reading to learn what we like best about PrestaShop.
Pros
Always free
Highly customizable
Numerous integrations
Excellent support materials
Strong user community
Cons
Expensive customer support
Developer skills required
PrestaShop Pricing
PrestaShop is free to download and use.
That said, you will still need to account for a few expenses related to running an online store. PrestaShop users pay for their own hosting, domain name, site security, payment processing, and technical support.
Features
PrestaShop offers over 600 features already built into their free software. Here’s a bit of what those features include:
Inventory management
Filtered search
Tax calculation
Create coupons and discounts
Sell internationally
Reports and analytics
Despite these positives, however, PrestaShop is not a perfect solution. The software shares many of the drawbacks that are typical of open-source software. Although the program is free to download, users still have to account for the cost of hosting and integrations, as well as expenses related to hiring a developer. In addition, in order to get the best use of the software, you really need to understand how to code.
Similarly, PrestaShop is like most open-source software in that support is available primarily through self-help resources. You can use the knowledge base, user forum, and some web ticket support to find answers to your questions about the software. In order to get a dedicated support representative, however, you’ll have to pay an additional cost.
When To Use PrestaShop
Because of the technical challenge involved with using the software, PrestaShop is best suited to mid-size businesses that have the resources to hire a developer. PrestaShop is great for businesses that need advanced features, including the ability to sell internationally.
Square Online Store
Best for sellers who already use Square to process in-person payments.
Square is a payment processing company that has revolutionized the way small businesses are able to accept payments. Now, Square is expanding its offerings to provide sellers with an omnichannel selling platform. You can now create an online store that connects seamlessly with Square’s Point of Sale system. And the best part is, this online store (with hosting, domain name, security, and customer support) is completely free for merchants who use Square.
Square Online Store was designed using Weebly’s website building software. This means that the software is incredibly easy to use. Square Online Store is available for free to anyone who processes their payments via Square, and they also offer a few paid plans that include additional features and payment processing options. We’ve been impressed with Square Online Store as a free, cloud-based option for online selling. Keep reading to find out why.
Pros
Easy to use
Ideal for low-volume merchants
Sell in-person and online
Integrates with the Square ecosystem
Cons
Limited customization
Limited features
Only one payment option
Square Online Store Pricing
Square Online Store’s free plan includes a basic feature set, up to 500 MB of storage, and the ability to process payments through Square. Three paid plans are also available, ranging in price from $16/month to $79/month. These paid plans include additional features, storage, and payment processing options (lower processing rates and access to PayPal processing).
Square Online Store’s free plan includes:
2.9% + $0.30 per transaction (via Square)
Unlimited products
Automatic inventory, orders and items sync with Square POS
Instagram integration
Pinterest integration
Free SSL security
500MB storage
Inventory management
Order status text alerts
In-store pickup
Automatic tax calculator
Coupon codes
Square gift cards
SEO features
Lead capture and contact forms
Order customization
Support via a community forum, email, chat, and phone
Features
Square Online Store’s free plan gives users access to only the basic features that you need for online selling. Here’s a quick list of some available features:
Sell digital and physical products
Sell memberships, services, and carry-out orders
Sync with Square POS
Automatic tax calculator
Create coupons and discounts
Sell and accept gift cards
As with all free plans, Square Online Stores comes with limitations. You can only process payments through Square, and you do not get access to real-time shipping rate calculations.
Fortunately, there are no limitations placed on customer support. You can reach customer support via phone, email, and live chat. You can also always access the help center, community forum, and tutorial videos. We’re impressed that Square Online Store offers personalized support even on their free plan. This is a very uncommon benefit.
When To Use Square Online Store
Square Online Store is best for merchants who already sell using Square Point Of Sale, and who are looking for a way to take their store online. We recommend Square Online Store’s free plan to individuals and startups, and we recommend the paid plan to small businesses.
Ecwid
Best for individuals and beginning sellers who need an easy to use platform.
Ecwid is a cloud-based shopping cart widget that allows you to add an online store to any website. With Ecwid you can choose to build an entire website from scratch, or you can add an online store tab to your pre-existing website by just copy-pasting a couple of lines of code. Ecwid allows you to sell on multiple different channels at the same time, including on social media sites, on marketplaces (such as Amazon and eBay), and in person.
Ecwid is a very affordable platform, with the highest pricing plan set at just $30/month. They also offer a free plan, which we’ll be discussing here. Ecwid is user friendly, which makes it an excellent option for small businesses and startups. Many individual sellers will likely find that Ecwid’s free plan offers the features and usability they need to venture into online selling.
Pros
Suited for startups
Easy to use
Add an online store to any existing site
Cons
Not scalable
Basic design tools
Ecwid Pricing
Ecwid’s free plan comes with a paired down feature set. In order to get access to the full selection of features, you have to subscribe to a paid plan. These plans range in price from $15/month to $35/month. Each step up in pricing includes more features, more products listings, and more available sales channels.
Here’s what’s available in Ecwid’s Free Plan:
Online store
List 10 products
Advertising on Facebook, Google, Pinterest, and Snapchat
Unlimited bandwidth
Instant Site builder
Sell on multiple sites
Facebook pixel
Apple Pay (via Stripe)
GDPR compliance
Self-help support options
Features
Ecwid’s free plan includes only the fundamentals of online selling. You can list up to ten products, market your products on social media, adjust the look of your online store, accept payments, and process orders. Here are a few available features:
Sell on multiple websites and in-person
Social media integrations
List product variants like size and color
Automatically translate your store in 50 different languages
Although Ecwid certainly has a lot to offer its users, it has a few limitations as well. The biggest drawback of Ecwid’s free plan is the limit they place on available features. You do not get access to features like automatic tax calculation, inventory tracking, discount creation, or digital products. You are also restricted to just ten product listings. This makes Ecwid’s free plan only good for the smallest online sellers (those who are just starting out, or artists who sell their pieces as a profitable hobby).
Support for users of Ecwid’s free plan is available via email. You can also find answers in self-help resources like the help center, tutorial videos, and community forums.
When To Use Ecwid
Ecwid’s free plan is best for individuals and beginning sellers who are looking for an easy way to take their products online. Growing sellers will quickly have to transition to a paid plan, but Ecwid’s free plan is a great starting point for many.
Magento
Best for mid-size and large businesses that want a customizable solution and can handle a technical challenge.
Magento is a software company that offers multiple solutions for online selling. In this article, we are focusing on Magento Open Source (formerly called Magento Community Edition), which is a free, downloadable selling software. Magento Open Source is completely customizable, and it comes with loads of features already built-in.
As an open-source solution, Magento is not known for its ease of use. In fact, you really need to have a good amount of experience with software development in order to implement this platform. With that in mind, we recommend Magento primarily to mid-size businesses that have a team of software professionals on hand.
Pros
Free to download
Impressive feature set
Highly customizable
Highly scalable
Active, global user community
Cons
Developer skills required
Steep learning curve
No customer support
Magento Pricing
Magento is free for users to download and use.
However, Magento is not a “cost-free” selling solution. In order to get your online store running, you’ll have to pay for web hosting, a domain name, integrations and extensions, and payment processing. Also, if you don’t have experience with code (especially PHP), you’ll have to hire a developer.
Features
Magento offers an incredible number of features, even without any add-ons. Here are a few available features:
Coupons and discounts
Share on social buttons
Sell digital products and bundles
Multi-site capabilities
Filtered search
Tax and shipping calculations
Unfortunately, in order to access these features, users have to overcome a steep learning curve. Without the support of a developer, this learning curve may be too much for some businesses. In addition, while Magento is free to download, the platform can quickly turn into an expensive option when you consider the cost of hosting and integrations, as well as the cost of hiring a developer.
Magento is also a challenge for some users because of its limited customer support. Magento does not offer any support through phone, live chat, or email. Instead, you have to figure things out on your own with the user guide, community forum, and developer documentation.
When To Use Magento
Magento is a great solution for mid-size to large businesses that need a customizable and feature-rich selling software. Magento is only a good option for smaller businesses if they have the resources to hire a developer.
Free Shopping Carts VS Open Source eCommerce
All of the solutions we present above fall into one of two categories: a free plan on a cloud-based software, or an open-source downloadable software. Lets take a closer look at these two categories to find out which option is best for your business.
What Is Open Source eCommerce?
Open source eCommerce software are software that are made available to the general public. You can typically download the software for free, and all of the documentation that was used to build the software is available for public use. In general, open-source software is highly customizable, with strong features. Typically, companies that create open-source software make money on software extensions and technical support, rather than sale of the software itself.
The Pros & Cons Of Open Source eCommerce Platforms
Take a look below for the common advantages and disadvantages of open source eCommerce platforms:
Pros
Free to download
Feature rich
Customizable
No monthly subscription costs
Cons
Web hosting not included
Users manage their own security
No personalized customer support
More difficult to learn and use
Developer support often required
Businesses that benefit from open source software are typically mid-size to large businesses. These businesses need customizable software, and they often have access to a developer.
What To Look For With Good Free eCommerce Software
Here’s how to identify a secure, high-quality free software option:
Open Source: For open source software, look for an option that is free to download and doesn’t make you pay for software updates. Look for lots of built-in features and a strong user community. Dive into the community forum and online reviews of the software to find out if general opinion of the software is positive or negative.
Cloud-based: When it comes to free plans on a cloud-based software, you should look for the ability to list at least 5-10 products. Double check that the software offers free hosting and domain names, as well as customer support options. It’s also a good idea to look for affordable paid plans in case you need to upgrade from the free plan in the future.
As you look for a free eCommerce software, you should also keep your eyes peeled for warning signs that a software may not be worth your time. Be wary of free plans that are so limited they are largely unusable. You should also be cautious of software that are not well reviewed online. Software without a significant number of reviews or software with a large number of negative reviews are often out-dated and clumsy to use.
FAQs
Look below for answers to some Frequently Asked Questions regarding free eCommerce software.
Which free eCommerce software is best?
We think the best free eCommerce software overall is WooCommerce. WooCommerce provides the tools that most businesses need to sell online, and it is relatively easy to use. For sellers who prefer an all-in-one selling solution, however, we recommend Square Online Store. This software has the advantage of including web hosting, even though the feature set is much more limited than WooCommerce’s.
Are there free website builders with eCommerce built-in?
BigCartel, Ecwid, and Square Online Store (built on Weebly’s software) all offer elements of both website building and eCommerce. However, many popular website building software, like Wix, Weebly, and Squarespace, do not offer any free eCommerce features.
Do any free eCommerce platforms have unlimited products?
All open-source eCommerce platforms allow users to list unlimited products. Square Online Store is the only cloud-based eCommerce solution we know of that has unlimited products on their free plan (although, they do place a limit on data storage).
When would I have to upgrade to paid eCommerce software?
Typically, you have to upgrade to paid eCommerce software in order to list more than ten products and access features like real-time shipping and tax calculation. This only applies to cloud-based software since most open-source platforms are always free.
How To Choose The Right Free eCommerce Platform
Choosing the right eCommerce platform for your business is a process that involves careful consideration. In order to land on a great choice, you’ll have to make a number of smaller decisions along the way.
The first choice you should make is between cloud-based software and open source software. This decision should be based on your technical experience and your preferences regarding customization. Sellers who’d prefer to have their site’s hosting and security managed on their behalf should choose cloud-based software, while sellers who prioritize customization should choose open-source software.
Now that you’ve decided between cloud-based and open source software, you should take some time to come up with a list of features that your business absolutely must have. These should include key features like the ability to list digital products, calculate taxes and shipping costs automatically, and track your inventory totals. You should also look into customer support options–make sure that your business can manage with the support options available.
Once you’ve found a few software options that might work for your business, dive into the available customer reviews. Find out if users have a generally positive experience with the platform. If not, look elsewhere!
Finally, once you’re narrowed your options to one or two platforms, take the plunge and sign up for (or download) the software. Since it’s free, you’ve got nothing to lose, and there’s no harm in testing multiple products. Trying out the software for yourself will give you a good understanding of whether or not a software can work for your business.
If you choose to use any of the software on this list, we feel confident that you’ll have a positive experience. Even if the software isn’t a perfect solution, it is free, and it’s hard to go too wrong with a free option! No matter which software you select, we wish you the best of luck in your venture into online selling.
For more information on setting up an online store, check out our Complete Guide To Starting An Online Store For Your Brick & Mortar Business as well as our free eBook: The Beginner’s Guide To Starting An Online Store.
The post The Best Free eCommerce Platforms & Shopping Carts appeared first on Merchant Maverick.
For many restaurants, adding the option of online delivery may be something they’ve either been casually considering or maybe just started to implement as an experience. However, with the recent sudden health crisis that COVID-19 has brought, being able to stay open for deliveries has become almost a necessity for many businesses. The good news is, even if you’re starting from scratch, it can be a relatively simple process. However, you want to make sure that you’re still making enough of a profit to stay viable. In this case, you may want to consider going with your own in-house delivery system. And while that may sound daunting, there are plenty of tools available to you that you may not have even known existed. It’s possible to set up delivery in-house in just a few hours in some cases, and it may end up helping to grow your brand and expand your customer base in the process.
Why Should You Keep Delivery In-House?
The most obvious reason to handle your own delivery is quite simply the cost. While third-party apps are inarguably convenient, they drastically eat into your profits. Some studies estimate it can be close to 50% cheaper to run delivery in-house rather than outsourcing that service. With margins that low, sometimes using third-party delivery can be more trouble than it’s worth quite literally. By keeping things in-house, you’re in control. You don’t have to worry about rude or careless drivers who don’t have a vested interest in protecting your brand. And, speaking of branding, you can create your own unique packaging and marketing to expand your visibility further. Also, if you’re lucky enough to be using a point of sale system that integrates with delivery (or offers that option as an add-on), it will integrate with your software seamlessly and require minimal additional training for your employees.
The Alternative: Third-Party Delivery Apps
Restaurant delivery is a competitive business, and while we’ve already briefly discussed that using one of these popular companies will take a big bite out of your profits, it’s still easy to see their appeal. To begin with, they are exceptionally simple to partner with. If you are a busy restaurateur who doesn’t have the time, energy, or know-how to start delivery in-house, you can simply pair with one or multiple services and potentially reach a whole new market. These apps are widely used and can help you reach a broader customer base. They also require very little money upfront if you’re just starting and are low on cash. In short, there’s a reason why these third-party apps are so popular with customers and businesses alike. But while it’s easy to see their appeal, they still might not be the option that ‘s right for you.
Must-Have Tools For Taking Online Orders & Managing Delivery
Point Of Sale App
While you can still technically operate a successful delivery service by simply jotting down orders and hand-delivering them back to your kitchen, a point of sale that comes with or integrates with in-house delivery options can make your life significantly easier. In fact, if you’re just starting out or are currently in business but plan on making delivery a large part of your operation, having a POS with a good delivery integration is almost essential. A quality POS can help you track and manage your orders as they come in, particularly when paired with a Kitchen Display System. This helps give customers accurate delivery times and can help you stay on top of important things, such as your inventory levels.
Online Ordering Tools
If you’ve decided to keep your delivery business in-house, there are some handy options available to you that your POS may already integrate with or that you can easily set up through your website. These companies provide software that is tailor-made for the restaurant industry and can simplify things even more.
GloriaFood:Â GloriaFood provides free software for restaurants, allowing you to take an unlimited number of orders for no fee. You can easily install a simple widget and be up and ready to sell in a single business day. GloriaFood can even help you set up your website to streamline the delivery process and is available on iOS and Android devices.
Menufy:Â This is a similar service to GloriaFood in that it offers free software and can help you create a sleek website for online ordering. The service fee is charged to customers, and the restaurant is only on the hook for the processing fees. There are no contracts, and you can be notified of orders on a wide variety of devices and through many different POS companies.
ChowNow:Â This is another popular online ordering software that can work with your specific brand and logos to create a personalized experience for your customers. ChowNow offers software with zero fees but also has hardware options that you can purchase that can run your delivery orders separate from your in-restaurant orders for added convenience.
There are plenty of other online ordering options available as well, so do a little research to see if one fits best with your specific business.
Courier Tools
Using an in-house system for delivery also gives you control over who is handling and delivering your food and who is the face of your restaurant for customers who are ordering from home. These will be an integral part of your delivery business’s success, and there are plenty of things you’ll need to consider to ensure their success. First, you’ll need to decide if you’ll be using a company car or cars for delivery or if you’ll allow your couriers to use their vehicles. Either way, you’ll need to make sure that you have the proper insurance. And if your drivers are using their vehicles, you’ll need a way for them to track and log their mileage for reimbursement.
Next, there are some things you’ll want to make sure your online ordering system has, whether you’re using an online ordering service or your POS’s features. Certainly, you’ll want a reliable and accurate navigation system. It’s also valuable to have a delivery tracker, so you can tell where your driver is at any given time. The ability to quickly communicate with drivers is essential as well as having a system that allows for text notifications in case of changes or special requests.
Staffing Concerns With Restaurant Delivery
If your fancy new delivery service is a success, you may also start to experience some growing pains. You don’t want to overwhelm your hard-working staff, so you’ll likely need to hire some additional employees. Along with couriers, you’ll need to make sure that your kitchen is staffed well enough to handle the increase in demand, and you may need to carve out a separate space solely for online orders to help eliminate confusion. It may also be beneficial to have an employee whose entire job is to oversee and handle the online ordering process, ensuring that orders are being received correctly and filled and distributed in a timely fashion.
Other Logistical Considerations
We’ve already touched on a handful of things you’ll need to consider for your delivery business, from essential tools to simple conveniences. But here’s a quick recap of things to look for when you’re implementing this feature for your restaurant.
KDS:Â A Kitchen Display System can alleviate numerous headaches in any restaurant, but it’s especially valuable when your restaurant also handles deliveries. A system that receives and organizes orders directly can dramatically cut down on errors and help your kitchen prepare orders in a timely and efficient fashion.
Dedicated Kitchen Space:Â You may be operating with limited space in your kitchen, but if you can swing it, setting aside an area specifically for online orders can alleviate some headaches and make sure that orders aren’t getting confused.
Packaging:Â This is something that might be easy to skimp on; however, the way you package your delivery options can be vitally important. It’s an opportunity for you to brand and market, and it can be easy and inexpensive to order packaging products with your logo. It’s also essential to make sure that you have durable packaging that can withstand a drive and maybe even a way to keep the items hot or cold, depending on the order. You want to make sure your food is presentable and as good as it would be in your restaurant to avoid poor reviews. You’ll also need to think about what to include in delivery orders, such as napkins, utensils, and portable condiments.
Payment Options:Â You’ll definitely want to lock down how people ordering online will pay you and what types of payments you’ll accept. The ability to prepay online will help you track your money and tips easily while equipping your couriers with a card or chip reader provides an added level of convenience. Also, with restrictions from COVID-19, setting up the option to take payments and drop off deliveries without contact with customers could be an important feature that allows you to continue making sales in difficult times.
Add An In-House Delivery Option To Keep Customers Happy & Business Rolling In
While online ordering and delivery options have been rapidly growing in the restaurant industry over the past few years, we are in a time when having that feature may actually be essential for keeping your business afloat. It may seem a bit daunting if you’re just getting started, but remember, you have options. While third-party apps are undoubtedly easy to utilize, you may not end up receiving the type of return that can significantly boost your business. In that case, going with in-house delivery might be the most economical decision. There are plenty of tools at your disposal to help you.
See what your POS system offers for in-house delivery or what companies it integrates with. If you already have an online presence, getting started can be as simple as installing a widget or downloading an app. And many of these products, whether it’s the POS company itself or an online ordering service, can walk you through the setup process as well.
Looking for more resources to help small businesses navigate the coronavirus pandemic? Check out our Coronavirus Survival Guide For Restaurants, or read a variety of other articles on our Coronavirus resource hub.
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The world has turned upside down. (As a Broadway fan, I have the Hamilton version of that line running through my head on repeat these days.) Small businesses all over the nation find themselves in a rapidly changing climate and making decisions based on state requirements needed to combat the spread of the coronavirus. Small businesses in the time of COVID-19 are faced with brutal choices and will need to employ creative solutions as the pandemic changes the landscape of our lives.
If you have a service that meets the needs of your community during the pandemic, getting information out to potential customers is a necessity. People right now want to help small businesses thrive, and they are looking for ways to spend their money conscientiously. What are some ways to navigate the balance of marketing a product during difficult times?
Before we look at marketing, it’s important to look at your business: Right now, more than ever, it’s crucial to understand what is an essential business and what is not. I just watched in real-time the complete viral annihilation of an owner’s decision to keep her consignment mall open because she deemed her store and all the vendors paying rent in her store (and all their employees) as “essential business.” (She, herself, was self-isolating in a different state. And three hours after her initial post, she changed her mind.) People are dying — if anyone susses out that you are here for profit/being greedy/to exploit a tragedy — I guarantee the karma (Facebook’s comment section) is swift.
Merchant Maverick’s COVID-19 hub has many resources to weather the storm, but if in doubt — sit it out.
And if your business has a role here as we move forward, then keep on reading, and we’ll explore the best practices together.
The Best Marketing Channels For Small Businesses
Parts of the nation are on full shelter-in-place orders, and others may soon follow. That means that millions of workers and their children are home, in their family rooms, most definitely on their computers or phones, with near-constant access to the internet. We are lucky to live in a digital world that can adapt to the needs of consumers during this pandemic — and the digital world is where you are going to access your potential customers.
Email Lists
Building a newsletter is an essential part of doing business. Why? Because when you have access to someone’s email, you have direct access to that person. They may not open your newsletter, but when they check their email, they will see your name and your subject hook: It’s the best resource you have. Building a newsletter should be seen as an essential part of doing business.
Social Media
(How can you tell a writer has been a little too self-isolated? I just deleted an attempt to write this section to the tune of Over the Rainbow. I wish I were kidding.) Social media is where you will find your people. Maybe you already have a thriving community on your social media, or perhaps you are building one. Either way, it’s important to think of ways to use various platforms: Instagram, Facebook, YouTube, Twitter, TikTok, Snapchat…maybe in that order, depending on your marketing audience.
Other Options
Direct communication is the best! If you have access to phone numbers, maybe send a quick text update. A skincare business in Portland I have been to once texted to let me know its physical store was closed but is still selling products and gift certificates online. If you have a website, consider blogging about your own experiences. Now is the time, more than ever, to tell your narrative and build a community around your business’s story. Who are you, and how is this pandemic affecting you and yours?
The Ground Rules For Online Marketing
The entire world is really hoping that we can all flatten the curve of this virus and return to normalcy. However, until then, every person and every business needs to make socially responsible choices. That means your business needs to comply with social distancing and follow your governor’s mandates. As with any marketing campaign, be sincere and run your words by many different sets of eyes to ensure your tone is professional and sensitive to the mood of the nation.
If you are asking people to opt-in to your newsletter for freebies/deals, make sure you follow local privacy laws. Also, a good tip is to require only two fields (say: name and email) — any more will cause hesitation, and you might lose the lead.
Build An Email List
One small business owner mentioned that he sent out a newsletter, not to pitch anything, but simply to ask his subscribers how they were doing: How are you? Are you okay? Do you need anything? Small businesses are the bedrock of the community, so first, reach out to your community and see how people are feeling. With self-isolation in full swing across the nation, many people need your words of comfort and offers of help.
You can also use this time to build your list by offering discounts or freebies to people who sign up for your newsletter. (For a gym or yoga studio: If they sign up for your newsletter, maybe they can receive free daily quarantine exercises?)
Create A Social Media Following
There are opportunities to pay for ad campaigns within social media platforms, but it’s important to use your platforms to communicate with your customers and community directly in addition to running ads. People want to help small businesses in their community, but they need to know who is open and how social distancing needs are being met. Use your social media channels to inform and engage.
Keep Your Customers Updated On Changes
I have a local store I love, and I went to all of its social media pages for a COVID-19 update and didn’t find anything. Tell your story and make it easy for people to support you and to know how — put that information far and wide.
If you can still provide curbside or delivery during the pandemic, your business has pivoted and adapted with the changes, or if you are changing your hours or working with a reduced staff, let people know. Use all necessary means to communicate with your customers and encourage people in your community to share your message far and wide.
Use Hashtags & Branding
A hashtag is a way to group your message in with broader messages to attract new followers. As you can imagine, right now, pandemic hashtags are trending along with #stayhome, #stayhomesavelives, and #socialdistancing. Creative hashtags such as #savesmallbusinesses can gain momentum across platforms and will help categorize your information. You can create a hashtag specifically for your business to boost name recognition and your business’s story. Our local used bookstore (and Portland icon), Powell’s, had to shut its doors and lay off the majority of its staff, prompting a #savepowells hashtag to surge and ignite a successful online buying campaign to help keep it afloat.
If you are using your social media consistently to communicate, think about your company’s branding — can someone look at a post and identify your company? What is the overall tone of your company’s message? Keep your social media messages consistent and on-brand. Branding also means you understand your audience and their needs: If you are in a community that is struggling and feeling scared right now, you might want to avoid a tone that feels trite or dismissive of the current news.
5 Marketing Tactics You Can Use To Keep In Touch, Inspire, Motivate & Otherwise Encourage Customers
We are not living in the same world that we were a few months ago. Consumers and attitudes have shifted, thriving businesses have shuttered for the time being, and people have major anxieties. They are scared about the virus, worried about the health of loved ones, scared about their jobs, scared about the overall health of our economy, maybe food insecure or feeling alone, and/or possibly balancing remote work/home school for the first time. Right. So when consumers are dealing with a national emergency, priorities shift. Consider that as you move forward with a marketing campaign.
Marketing is two-fold. Yes, you want to sell the product/service you can offer, but you also want to market your story/your company’s ethos. Here are some marketing tactics that might work well as you look forward.
Promote A Good Cause
Larger corporations have made donations of coffee and sandwiches to health workers, and many smaller businesses are reaching out with offers to donate a percentage of proceeds to nonprofits helping assist communities most impacted by COVID-19. Can you provide free food for kids or the elderly? People want to spend money and know it’s helping small businesses and the people impacted by this emergency: What does your community need, and how can you help?
Run A Contest Or Challenge
Can you drum up some business by offering a contest or challenge to your customers? A game store in Kansas is offering up a $50 gift card to the store to anyone who shows their “19 painted miniatures in 19 days challenge.” A bakery in a suburb of Portland is offering “frost your own cookie kits,” selling them curbside and then highlighting the beautiful cookie art with a hashtag; daily winners via votes get a gift certificate to the store. Take an opportunity to engage your community with an activity or challenge (Bake with Me challenge or Tap with Me challenge; a toy shop near us that sells Legos is running a 30-Day Build-It challenge). All of these things build brand awareness and provide your potential customers with something to engage with.
Use Promo Codes For Online Orders
Are you moving your business online? Or have you already been equipped for online ordering but need to get the word out? Provide a financial incentive to order from you! I ordered some books from a bookstore owner directly over the phone, and she shipped the books free (and they arrived the next day!), and online delivery services are running promotions for free delivery. Entice new customers with a first-time buyer code or offer deep discounts for large orders.
Sponsor A Giveaway
At this point, I’m sure you’ve seen it, too: the toilet paper giveaways. Order a pizza? Get some TP. Drive-thru to our coffee shop? TP while it lasts! If you don’t have 2020’s luxury item on hand to pass out with your product, that’s okay; there are many other things besides toilet paper you can give. This might be an opportunity to team up with a collaborator (another small business in your community) and give away gift certificates to a different business in the neighborhood. If you are a clothing boutique, can you have some fun with quarantine-outfits and sponsor a giveaway of clothes that are perfect to wear at home? This is about what you can offer and how you can help while building your brand and responding to the virus ethically.
Feature Your Customer/Community Stories
This is what speaks straight to my heart: stories. We are all a giant community of humans, and it is local families and local businesses that keep things afloat. Tell your own story but also reach out and see if you can feature other stories, too. Build a community from this isolation, and encourage people to reach out and connect with you and others. Also, feature people who may be asked to work as essential employees — put a name and story to the faces of the people in your business: Let the community know who they are supporting. They are not supporting a business; they are supporting the people behind the business.
The Bottom Line For Online Marketing During A Pandemic
How you face this pandemic can say a lot about your business and your brand. Don’t take the messages you send lightly, and run them through a filter of sensitivity and practicality. But if you have a service you can offer safely to others, yes, communicate that in any way you can to get the word out about how you can help people in your community. Email your list, send a newsletter or a text; be sure to communicate honestly and often, and let people know how they can help you. Have you seen any brilliant or cringe-worthy marketing campaigns related to the pandemic? Share with us in the comments! And stay safe out there.
The post 5 Clever Marketing Tactics For Small Businesses During The Coronavirus Pandemic appeared first on Merchant Maverick.
Despite not being in the United States for long, the coronavirus (or COVID-19) has already had an enormous impact. Schools and businesses have closed, many states and cities have issued shelter-in-place orders, and citizens are wary about what the future holds. Fortunately, Congress has stepped up to battle the economic fallout of the coronavirus with a $2 trillion stimulus package — the largest in history. The primary focus thus far surrounds payouts to taxpaying citizens, but what about small businesses? Thankfully, this stimulus package also offers relief for small business owners, too.
Most notably, the plan sets aside $350 billion for small business loans. The Paycheck Protection Program will provide loans that are backed by the Small Business Administration. Under this program, small businesses and nonprofits may receive up to $10 million to cover payroll, utilities, mortgage interest, and rent. The amount that a borrowing business qualifies for is based on its payroll from January 1 to February 29. If the borrower uses the funds for the aforementioned expenses and maintains the size of its full-time workforce, the principal of the loan will be forgiven.
These SBA-guaranteed loans will be available through banks and other traditional lenders and will have a maximum interest rate of 4%. To qualify as a small business, applicants must have 500 or fewer employees. While SBA loans typically have lengthy application processes, the Paycheck Protection Program will expedite the process so that businesses can have faster access to funds.
The Paycheck Protection Program isn’t the only relief offered to small business owners. The stimulus package also provides companies with tax relief to help further ease the burden caused by the pandemic. Businesses can take advantage of a 50% refundable payroll tax credit, which not only helps small business owners but also keeps more workers employed. Employer Social Security payroll taxes will be delayed, and net operating loss-reduction rules will be less stringent.
Finally, the stimulus bill sets aside $425 billion for the credit facilities of the Federal Reserve. Part of these funds will be available to small businesses, giving owners more funding opportunities to recover and get their businesses back on track.
Experts argue that more relief could be provided for small businesses, sole proprietors, and the self-employed. Whether or not additional aid will be available in the future is currently unknown. However, the stimulus package as it stands offers much-needed funding opportunities for businesses that have been — or will be — hit hard by the coronavirus.
In addition to the SBA loans outlined in the stimulus bill, the SBA is also offering additional aid to small businesses with its disaster relief loans. It’s another option to consider if the coronavirus has impacted your business.
Whether you’re an employee or an employer, everyone around the world is feeling the effects of the coronavirus pandemic. It’s easy to get wrapped up in panic or fear about what’s currently happening and what’s around the corner. Here at Merchant Maverick, we’re offering our support through our coronavirus hub. There, you can find the latest information about how to weather the COVID-19 storm as a business owner. We offer tips, advice, and resources that can help you keep your business on track. We understand the importance of small businesses, and we want to provide continued help and support when you need it the most.
The post How The New Coronavirus Stimulus Package Could Help Your Small Business & Employees appeared first on Merchant Maverick.
The retail industry is facing massive, unprecedented closures as the novel coronavirus spreads throughout the country and state and city governments announce “shelter in place” orders. In much of the United States, the only type of retail stores that remain open are superstores and “essential retail” stores that sell food, medicine, or other life-sustaining goods. While business is thriving for major retailers, such as Costco, Walmart, and Amazon, small retailers are bearing the full brunt of this crisis. In this article, we want to be informative about the effects on retail, but we won’t stop there — we will also give actionable steps to help your retail store survive and even stay profitable during the outbreak.
What Coronavirus Means For Retail
The retail sector has been particularly hard-hit by the COVID-19 pandemic, as much of the industry is deemed “nonessential” — though states have some leeway in how they define what is and what isn’t essential retail. In a growing number of states, residents have been advised to shelter in place and only leave the house to buy food or medicine. Even in regions without strict shelter-in-place orders, many governors and mayors have called for the closure of nonessential retail businesses. As COVID-19 cases continue to mount, most or all of the United States may soon be under such orders.
This grave situation requires the closure of a large portion of small retail businesses, though it is still possible to sell online. In fact, eCommerce sales are expected to surge in 2020Â as consumers stock up on essentials, such as food, healthcare items, cleaning products, household items, and even consumer electronics to stay entertained while at home.
Generally, the following types of stores are considered essential retail and can remain open for in-person sales:
Grocery stores
Liquor stores (depending on the state)
Healthcare supply stores
Marijuana dispensaries (depending on the state)
Convenience stores
Farmer’s markets
Superstores (Walmart, Target, Costco, etc.)
Gas stations
Drug stores/pharmacies
Hardware and home improvement stores
Office supply stores
Pet stores
Telecommunications stores
Auto parts stores
Pretty much all other types of retail stores are considered nonessential retail and have been forced to close in many states and cities. As follows are some examples of nonessential retail businesses (though this list is certainly not comprehensive):
Clothing and shoe stores
Hobby and craft stores
Furniture stores
Jewelry stores
Cosmetic stores
Book stores
Sporting goods stores
Malls
Of course, you’ll need to check with your local authorities to find out if your retail store must close or if it can remain open.
Demand Changes
Some retailers may find their goods in high demand, while others may be in less-popular industries and will have to get more creative about how they run their business. As mentioned, essential goods — soap, food, cleaning products, and, of course, toilet paper — are seeing record-high demand. Many nonessential retail goods, such as clothing and fashion, are expected to be harder hit.
Social Distancing
Social distancing is being mandated by a lot of states, so even if your store remains open (at least, for the time being), social distancing will affect foot traffic and people’s desire to go shopping. In some cases, stores are limiting how many people can enter the premises at the same time to allow for adequate social distancing.
Increase In Online Shopping & Deliveries
Because of social distancing, there has been an upsurge in online shopping and an increased need for curbside pickup or delivery options. Especially as Amazon Prime shipping times increase — Prime delivery times on some items are now as long as a month — this may result in higher demand for smaller retail businesses that offer online sales, as these businesses may be able to provide a level of service that big-box stores are unable to offer right now.
10 Tips To Keep Your Retail Business Strong During COVID-19
If your retail business can adapt to these strange new times, you have the potential to keep it going strong throughout this crisis.
Create An Online Store
If your retail store is strictly brick and mortar, now is a great time to add an online store. Plus, there are many easy eCommerce platforms out there to get a site up and running quickly. Retailers should also promote their online buying and shipping options for their store (if you’re still open), especially on social media and via email marketing. Learn more about how to start an online store by checking out the resources listed below.
Further Reading
The Beginner’s Guide to Starting an Online Store (eBook)
What The Coronavirus Means For eCommerce & What Your Business Can Do About It
Shopping Cart Comparison
Offer Personal Shoppers
There are a couple of ways your business can use personal shoppers to deliver products to customers without them having to enter your store. The first way is for your employees to act as personal shoppers for customers by taking their orders online or over the phone and personally delivering them. The second way is to use a third-party delivery service, such as Shipt or Instacart. Note that third-party delivery services may charge a fee and only deliver for certain industries.
Further Reading
Third-Party Delivery Services For Restaurants & Retailers: Your Best Options
Add Curbside Pickup
In addition to or instead of delivery services, it may make sense for your retail business to offer a curbside pickup option for those who don’t want to go out to shop. Customers order online, choose a “pick up in-store” option, and when they arrive at the store, an employee comes out and delivers the order. Some big-name retail stores that have implemented curbside pickup options include Target, DICK’s Sporting Goods, Books-a-Million, and DSW.
Create Subscription Boxes
Subscription boxes are a great way to supplement income and increase brand awareness. Mail may be one of the few ways people can still buy (nonessential) things in the near-term, and subscription boxes will likely become even more popular as consumers remain more or less stuck at home. Plus, subscriptions can help your business guarantee regular monthly income.
Further Reading
How To Start A Subscription Box: 7 Steps To Launch A Thriving Business
Appeal To Consumer Needs
As shoppers are encouraged to self-isolate and practice social distancing, think about what your business can offer during this difficult time. For example, art stores can provide drawing kits for kids home from school; gyms can provide online workout recordings; travel companies can offer discounts for planning 2021 vacations; landscaping business can build indoor garden starter kits; beauty stores can offer sample boxes or at-home spa kits.
Host Virtual Events
For retailers that have strong communities, consider hosting virtual events on Facebook or another online video platform. For example, board game stores can host virtual competitions; bookstores can create a weekly book club discussion (and customers can pay for that book to be shipped to them); cooking supply stores can offer weekly bakeoffs or demonstrations (and customers can buy kits with the tools and ingredients they’ll need).
Get Creative With Marketing
Even in these trying times, you can still market your business and the products and specials your retail business is offering. You can grab customers’ attention using email, text, and social media —Â while appealing to consumer needs and respecting social distancing guidelines. Read up on what other small and large brands are doing and start thinking about what you can offer that no one else is. Even if you’re brand-new to email marketing, now is a great time to start.
Further Reading
How To Create A Successful Email Marketing Strategy
Simple Email Marketing Best Practices Every Merchant Should Know
Communicate With Customers
Be clear with customers about your hours and how you’re handling the virus in general. Even if you have to close your business, it’s good to let people know, and if you are able to reopen your shop, make sure you tell customers about that too. Let your fans know if you’re offering curbside pickup, deliveries, subscription boxes, a percentage of your sales donated to a charity to fight COVID, or anything else. Again, you can use email marketing for this purpose.
Limit Expenses
In addition to trying to create sales, another huge part of successful cash flow management and managing a financially strong business is limiting unnecessary expenses. Sadly, this may mean cutting your payroll or closing locations. You might also consider reducing your interest costs by consolidating all of your outstanding debt into one low-interest loan and putting any new business expenses on a 0% APR credit card.
Further Reading
How To Use (& How To Avoid Using) Business Credit During The Coronavirus Pandemic
Consolidating Small Business Debt: A Complete Guide
0% APR Credit Card Offers: The Complete Guide
Don’t Be Afraid To Ask For Help
Some businesses might just need a helping hand to get through this rough patch instead of closing down altogether. A couple of examples of how you could obtain assistance include starting a business crowdfunding campaign or applying for an SBA Disaster Loan. Refer to the list below for resources on financial assistance and loans — many loans are 0% interest right now.
Further Reading
Small Business Loan Resources & Guides For Businesses Affected By The Coronavirus
What SBA Disaster Loans Are & How To Qualify For One
Can’t Make Your Credit Card Payments Due To The Coronavirus? These Credit Card Issuers Are Offering Assistance
The Fed Has Cut Interest Rates To A 12-Year Low: Here’s What It Could Mean For Your Business
Keeping Your Employees & Customers Safe From Coronavirus
If your brick-and-mortar retail store is open in any capacity, you need to educate yourself and your employees about how coronavirus is spread. Then, you can provide helpful tips on how to keep the virus from spreading to employees and customers in a store environment.
Encourage Good Health & Hygiene
Educate your employees and enforce proper hygiene practices to ensure they follow the necessary health and safety protocols to prevent the spread of disease. This includes both cleaning and employee health practices. Specifically, make sure you are following the CDC’s Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19).
Revisit Sick Leave Policies
Make sure you and your employees understand your store’s sick leave policy. Update the policy if needed and help employees feel stable in their income so that they can stay home if need be. To prepare for a probable increase in employee absences, you might consider cross-training employees so that your store can continue to operate even if key employees are not present. Again, you can find advice on employee sick leave policies in the CDC’s official COVID-19 guidance for businesses.
Have Clear Communication
People are understandably worried. Customers and employees want to know what you as a business owner are doing to keep them safe, so be sure to communicate clearly about the measures your business is taking and help ease those fears. You should help employees, in particular, feel safe and hopeful during this time, maybe consider giving your employees a way to give back or options to hold their job if they choose not to come to work right now.
Keep Calm & Sell On
This is a tough time for the retail industry, for America, and the world overall. Nevertheless, you will make it through this; we all will. By exercising patience, diligence, and ingenuity, retailers can keep their business safe, operational, and even profitable during these unprecedented — but temporary — times. Again, eCommerce will play an especially vital role for retailers in the age of social distancing and beyond. While brick-and-mortar retail will likely not disappear entirely, now is the perfect time to augment your online sales options.
Do you want to read more about how small businesses can manage during the coronavirus pandemic? Refer to our hub dedicated to this subject: Coronavirus (COVID-19).
The post The Business Owner’s Retail Guide To Surviving The Coronavirus appeared first on Merchant Maverick.
Twitch began its life as a humble service for broadcasting and viewing video games online. Now the Amazon-owned live-streaming platform pumps out endless hours of content created by millions of broadcasters each month. With so many eyeballs locked on Twitch content every waking hour, it’s unsurprising that this digital entertainment behemoth makes money for more than just a few folks.
Some high-profile Twitch streamers have managed to build incomes high above the national median. For many more, Twitch has become an excellent source of supplemental income. For the dedicated enough, Twitch promises the opportunity of a potential part-time career down the line.
It’s also worth noting that while Twitch is primarily focused on live-streaming video games, you don’t just have to play video games to stream on Twitch. Some broadcasters have become famous for their IRL (“in real life”) streams while artists have built dedicated communities of people watching them create. Still other streamers are known for simply chatting with their viewers.
Ready to learn more about how Twitch streamers make money? Keep on scrolling for all the deets!
How Streamers Make Money On Twitch
Streamers make money on Twitch through several avenues. The primary (and easiest) way of making money through Twitch is to take advantage of the service’s built-in features. These features, which allow viewers to sign up for paid subscriptions and hand out donations, are only available for streamers who have been invited to Twitch’s affiliate and partner programs.
Streamers can also profit off their following outside of Twitch proper. Example moneymakers here include utilizing third-party donation platforms, selling merchandise, and signing sponsorships.
If you choose to dip into Twitch as a professional pursuit, don’t expect streaming to be an instant cash machine. Simple economics means that you’ll earn more money the more followers you have. Because it takes time and effort to grow your following, it is unlikely you’ll be raking in the Benjamins right away.
A caveat to this above rule of thumb is if you already have a large following on some other platform. For instance, if you have a large YouTube subscriber base to draw from or have a number of Twitter followers that want to watch you make art, you may be able to qualify for one of Twitch’s programs faster than other new streamers. This will allow you to start receiving Twitch subs and donations — the core to a streamer’s revenue — sooner than you might have otherwise.
Twitch Monetization Programs: Affiliates VS Partners
Twitch offers two programs that help content creators earn money through streaming: one for affiliates and one for partners.
The affiliate program is something that most people can qualify for. It has very clear qualification guidelines. Once you meet those guidelines, Twitch will automatically invite you to join the affiliate program. After joining the program, a streamer can take advantage of the subscription and donation tools baked into Twitch.
The partner program, meanwhile, is a bit more complex. It is only for the most popular streamers (around 1% of Twitch’s active broadcasters are in this program). Additionally, Twitch doesn’t have clear guidelines for what it takes to become a partner. As such, new streamers will want to focus on becoming an affiliate first.
How The Twitch Affiliate Program Works
The easiest way to make money directly through Twitch is by becoming part of the affiliate program. Affiliates can receive subscriptions and bits from views — both ways will help you generate revenue. Besides the monetary value of becoming an affiliate, other perks include additional emote slots, channel points and polls, and priority transcoding.
How Much Do Affiliates Make Per Sub?
The exact amount you can earn from each subscription will depend on the tier number. Essentially recurring monthly donations, tiers 1, 2, or 3 run viewers $4.99, $9.99, or $24.99, respectively, a month.
Streamers can also earn revenue from viewers who subscribe through the free subscription that comes with every Twitch Prime account. This is basically the same as the $4.99 tier 1 sub. However, viewers must manually resubscribe each month — there’s no auto-subscribe function with a Twitch Prime sub.
Generally speaking, you’ll receive a 50% cut of each subscription. In some cases, Twitch partners may receive more than a 50% cut. However, Twitch only shares larger pieces of the pie with very popular streamers, so this isn’t something that most newcomers will experience.
Beyond subscriptions, Twitch affiliates can also receive “bits” as one-time donations by viewers. Bits are basically Twitch’s currency — for every bit a streamer receives, they’ll receive $0.01 in return. When a viewer donates bits, they do so by “cheering” for the streamer, which generates a “cheermote” — essentially just a GIF that pops up in the stream’s chat log, notifying the streamer and other viewers of the donation.
How To Get Affiliated On Twitch
To become an affiliate, Twitch requires that you meet these specific guidelines of at least:
500 total minutes broadcast in the last 30 days
Seven unique broadcast days in the last 30 days
50 followers
An average of three concurrent viewers over the last 30 days
After you’ve met these requirements, your channel will be automatically invited into the affiliate program. Once invited, you’ll be prompted to fill out basic information, accept the program’s agreement, and finally provide Amazon/Twitch with your tax and payment info.
How The Twitch Partner Program Works
Once a streamer has gotten really popular, they may be invited by Twitch to join the partner program. Those who join the partner program will receive access to more emote slots, custom cheermotes, better video tools, and a dedicated Twitch support team.
This exclusive club isn’t for everyone, however. According to Twitch, only 27,000 of their 2 million active streamers are partnered. This program is certainly reserved for the cream of the crop!
How Much Do Partners Make Per Sub?
Just like affiliates, partners earn the money from their subs at the same 50-50 split. And, as mentioned above, some of the most popular partners may be able to earn a higher percentage from their subscriptions. Partners also qualify for the same $4.99, $9.99, $24.99, and Twitch Prime subs that are available to affiliates.
Bits cheered on from viewers are another popular earning method for partners. As previously mentioned, for every bit a streamer earns, they’ll collect $0.01 from Twitch.
Besides subs and bits, Twitch partners can also make additional revenue by running ads on their stream. On average, Twitch doles out $2 per 1,000 viewers. Because this is such a paltry sum, ads shouldn’t be a primary source of income — even for those who average hundreds of viewers each stream.
How To Become A Twitch Partner
Becoming a Twitch partner isn’t a clear cut as becoming an affiliate. This is because Twitch doesn’t market any sort of specific requirement to receive an invite into the partner program. However, Twitch does offer some general guidelines to help prospective partners along. According to Twitch, you can help you chances to become a partner by:
Maintaining a healthy ratio of organic viewers over hosted or raided viewers
Bringing a large viewership or following from other services and/or platforms
Twitch also has a “Path to Partner” achievement, which can also help your partnership chances once unlocked. However, note that unlocking this achievement won’t guarantee you an invite into the partner program. The Path to Partner achievement can be unlocked by doing the following:
Stream for 25 hours
Stream on 12 different days
Average 75 viewers per stream
Other Ways To Make Money From Your Twitch Following
Should you still be working your way to affiliate status or maybe you are wanting to tap into other revenue sources, there are a few ways to earn money outside of Twitch’s built-in monetization features. Let’s consider some of the options below!
Donations
If you aren’t a Twitch affiliate yet, you can still set up third-party donations. While third-party donations won’t give you access to bits or cheermotes, you’ll still be able to receive revenue from your viewers. PayPal has a popular donation platform that is used throughout numerous communities online.
Another way to receive donations could be through a membership platform like Patreon. These platforms enable users to set up monthly donations to content creators they like for perks like exclusive Discord access, bonus content, physical merchandise, and more.
For more ideas about accepting online donations, check out Merchant Maverick’s article on the topic.
Merchandise
While you will need an audience to actually buy your merchandise, selling such products as t-shirts, sweatshirts, or mugs with branding associated with your streaming personality could be an excellent way to diversify your revenue. There are an array of services that can help you with branded merchandise — Teespring, Redbubble, and Zazzle, to name a few.
Besides producing products branded with your logo, you can also brand products with the channel emotes your chat likes and uses often. Another alternative would be to reach out to artists (either on a site like Fiverr or within your own community) to create fresh designs that resonate with your audience.
Brand Promotion
Brands like using influencers to promote their products. Once a streamer has enough of a following, a brand may reach out to them to promote a video game or other product in the form of sponsorship. The exact details of these sponsorships will vary from brand to brand as well as the agreements made with individual streamers.
Like with many facets of life, brand sponsorship places a heavy importance on who you know and who knows you. To grow your web of connections, reach out to industry decision-makers via social media or at expos and conventions.
Note that like with the other revenue streams discussed in this article, you’ll need to have a sizable following for brand promotion to be successfully profitable. Of course, if you find a brand that aligns with your following’s particular niche, you may be able to strike a deal even if you aren’t pulling in thousands of views each stream.
Affiliate Links
Even if you can’t get directly sponsored by a brand, you might still be able to make money by promoting products via an affiliate program (note that this type of affiliate program is separate from Twitch’s affiliate program we talked about above). These affiliate or referral programs will generate you a small share of the profits each time someone clicks on your link and buys a product.
For instance, if you use specific accessories, hardware, or software during your streams, you could provide links to those products through the Amazon Associates program. Your viewers can then click your link and purchase your tools of the trade — giving you a bit of extra cash too.
Amazon Associates may look especially appealing for streamers: Twitch affiliates earn higher commission rates through Amazon Blacksmith — Twitch’s built-in Amazon Associates tool — than standard referral accounts. This means that once you reach Twitch’s affiliate status, Amazon Associates could be a more viable revenue stream compared to other referral programs.
Some specific brands also offer their own referral programs. For example, the gaming hardware company Razer has an affiliate program that dishes out up to 10% of each sale to affiliates — a much higher rate than you might see with Amazon Associates.
GL,HF
Ultimately, becoming a Twitch millionaire isn’t something that happens overnight. While there are plenty of avenues to earn money through Twitch, it takes work and dedication to grow a following (with a little bit of luck sprinkled in too!). The money just won’t come unless you have plenty of eyes watching whenever you stream. Plus — for most of us anyway — it takes time and effort to improve performing in front of camera and interacting with chat — all while playing a game.
Instead of focusing on the money first, Twitch should be an outlet for fun and social interaction. Besides, aren’t those what video games are all about?
The post How To Make Money Streaming On Twitch: Your Guide To Affiliates, Partners, & Other Sources Of Revenue appeared first on Merchant Maverick.
The COVID-19 pandemic has transformed the world we live in. Businesses are closing their doors, events are being canceled, and consumers and businesses are questioning what the future holds. If you’re a small business owner, you have your own set of fears. The same goes for your employees.
During this time of uncertainty, employees around the world are worried about keeping their jobs and bringing in a steady paycheck. But how do small business owners navigate the challenges of fewer customers, reduced hours, or even mandated closures? Fortunately, there are ways to keep your employees on staff and busy as the world pulls through and recovers from this disaster.
Many employers have kept their businesses operating by allowing employees to work remotely. If you’re new to the remote workplace, we have tips and advice to help you get started.
But not every business is in a position to deploy a remote workplace. If going remote isn’t an option for you, don’t worry — there are lots of great ways that you can keep your employees occupied. Employees can help boost your social media presence, launch a new delivery service, or even test out new and unique ideas you’ve had on your radar. It’s a win-win: you keep your business staffed, and your employees keep their jobs and earn a paycheck to support their households.
Your first instinct may be to cut costs by laying off staff, but this could be a mistake you come to regret in the weeks or months ahead. When restrictions on businesses are lifted and customers begin venturing out again, you don’t want to be stuck without a team of employees ready to get back to business. Before making any rash decisions, keep reading to learn about how you can keep your business staffed and your team productive in the days ahead.
Have Employees Work Remotely
Businesses that are closing their doors and practicing social distancing don’t have to bring operations to a halt. Instead, many businesses — both small and large — are allowing their employees to work remotely. Instead of coming into the office, these employees continue to perform their jobs from their own homes.
Not every business will be able to go remote, but there are a number of industries that can survive — and even thrive — with a remote workforce. This includes writing and editing, graphic design, web development and design, and retail operations.
Effectively switching to a remote workforce can be a challenge, especially when an emergency leaves you little time to prepare. The key to success, though, lies in communication across your organization. This includes clearly assigning tasks, coordinating meetings to best fit the needs of your team, providing support and training as needed, and using tools and resources to your advantage for communication, collaboration, and organizing workflows and projects.
Resources & Tips For Remote Working
Ready to keep your employees productive through remote work? While it may take a little trial and error to get the wheels turning at your organization, here are a few general tips for getting your remote workforce off the ground.
Host Meetings/Presentations Remotely
Take your meetings and presentations from the boardroom to the internet with videoconferencing software. There are a number of paid and free options available that allow you to meet with your colleagues, do remote presentations, and share your screen. Some options to check out include:
Zoom
GoToMeeting
Microsoft Teams
Google Hangouts
During the pandemic, Google and Microsoft have also made their enterprise solutions available to all customers, so this may be something to look at first, particularly if you have a larger workforce. Zoom and other companies are also making their software available with extended free trials and discounts.
Speaking of meetings, be mindful of the changing schedules of your employees when scheduling. While it’s a good idea to stick to your normal schedules, adjusting to remote work, new and different responsibilities, and having children at home during working hours may impact your employees’ schedules. Try to schedule meetings that work for most of your workers, and if there are employees that are unable to attend, choose software that allows you to record audio and video from the meeting that you can later share with your team.
Collaborate With Your Team
Working remotely means no more face-to-face collaborations between cubicles or in the conference room. Fortunately, there are plenty of virtual solutions for the remote workplace. Programs like Dropbox, Google Docs, and Google Drive allow you to securely share files with your employees, and some programs even let you edit and comment on shared documents.
Use Communication Tools
Email is a necessary tool both in and out of the office. While email is a good choice for certain types of communications, it’s not ideal for communicating with your team in real-time. Instead of going back and forth in your inbox, take advantage of communication apps and software like Skype or Slack that allows you to send instant messages to groups and individuals within your organization.
Keep Your Team On Track & On Task
Working from home sounds like a dream to some, but not everyone realizes how difficult it can be to stay on track. Realize that employees need time to acclimate to their new working environment, so make sure to check in often. It’s not always easy to balance working from home from other tasks, so keep your team on track using project management software. There are lots of options out there — Asana, Basecamp, and Redbooth to name a few. With this software, you can collaborate on projects, assign tasks, set deadlines, and ensure your team is productive.
Show Compassion For Your Employees
Remember, transitioning to a remote workplace can be a challenge for anyone, so make sure to keep the lines of communication with your employees open. Be understanding of any mistakes that occur in the beginning as everyone adjusts to their new workplace. Make sure that your employees aren’t working too many hours and burning out. Encourage breaks during the workday — even five-minute stretch breaks. Having happy, healthy employees is one of the biggest factors when it comes to the success of a remote business.
10 Other Tips To Keep Employees On During COVID-19
If working remotely just isn’t in the cards for your business, don’t worry — there are other ways that you can keep your business working during the COVID-19 pandemic, social distancing, and beyond as our world bounces back. If you keep your employees on staff, they can tackle critical tasks that maybe have been overlooked in the past, and they’ll be able to draw a paycheck. Use one (or all!) of these ideas to keep your workers productive in the weeks ahead.
Deep Cleaning
When’s the last time you gave your office, store, restaurant, or other business a good deep cleaning? It’s easy to get caught up in other tasks when things are busy, so there’s no better time than right now to tackle your spring cleaning. Tap your employees to clean under and around furniture and equipment, wipe down baseboards, dust blinds and window treatments, sanitize surfaces, and steam clean rugs and carpets.
Now is also a good time to reevaluate your cleaning and sanitation policies. Make it a habit for your employees to properly clean and sanitize their workspaces on a regular basis. Follow the CDC’s guidelines for sanitizing and disinfecting during the COVID-19 pandemic.
Get Organized
While your team is getting down and dirty by deep cleaning, take it a step further by getting your workspace organized. Task your employees with sorting through file cabinets, rearranging furniture, and purging old or unnecessary items. Don’t forget to shred old documents before throwing them away. Now is also a great time to ensure you’re caught up on your accounting and have gathered your necessary tax documentation.
Create Or Update Important Documentation
Do your company policies and procedures need an update? Maybe you don’t even have these written down and you have to start from scratch. Since your employees understand how your business operates, now is a great time to get their insight to update or create company manuals and documents. This includes:
Onboarding guides & training materials
Operations manual
Branding & style guides
Detailed job descriptions
Use Employees For Delivery Services
Many businesses, like grocery stores, retail shops, and restaurants, are keeping their employees busy and bringing in a steady stream of revenue with delivery services. Some businesses that previously used third-party services like Postmates have brought their delivery services in-house to keep their employees on staff, while others are implementing new delivery services. Licensed employees can use their vehicles (or a company vehicle, if available) to deliver food, drinks, and other supplies to customers that are staying at home.
Have Employees Run Social Media
Use this time to bolster your social media presence. Train your employees to run your company’s social media accounts, including any social media management tools that you currently use, such as Buffer or HootSuite. Your social media accounts can be used to update customers on what you’re doing to combat the spread of COVID-19, updated operating hours, and any changes to your operations (i.e., the addition of delivery service). Social media can also be used to share photos and encouraging messages, and it’s also a great way to stay top-of-mind with your customers when business returns to normal.
Create A Company Website & Blog
Continue to boost your web presence with a new (or updated) website and blog. Employees can help in a number of ways, from writing your web copy to uploading photos to choosing the design for your website. A blog gives you a chance to showcase your expertise, so let your most creative employees show off their knowledge. Your team can even write employee bios to give readers a more personal look into your business.
No design experience? No problem. Creating a website is easier than ever with website builders that do the heavy lifting for you. Check out our Best Website Builders For Small Businesses to find the one that’s right for you.
Train Employees On Email Marketing
Your employees can keep customers up-to-date on important company news through an email marketing campaign. While you should offer training and provide some general guidance on how to launch an email marketing campaign, let your team explore their own ideas when coming up with a marketing plan. What type of content should be in your emails? Here are a few ideas to get your team started:
Local updates on COVID-19
Deals & discounts
Updates on products & services
Changes to your business (i.e., new store hours)
Don’t have email marketing software? We’ve reviewed several good options. If money is an issue, there are free email marketing platforms as well.
Complete Business Courses Or Certifications
Even experts can always learn something new, so why not give your team the opportunity to challenge themselves and boost their knowledge? Online business courses and certifications make it easier than ever to learn a new skill or brush up on a variety of topics. Have your employees choose something that’s relevant to your business and their job. There are many online course options available on topics such as computer sciences, languages, web design, and law.
The best part? Many of these options are available at no cost to you or your employee. While you may have to do a bit of online searching to find the right courses for your team, start with these options:
The Open University: Offers a number of courses across topics including design, engineering, and technology
MOOC.fi: Offers computer science courses from the University of Helsinki
Harvard University: Free online courses from Harvard University (yes, the Harvard University)
Perform Market Research
In addition to bettering themselves through online learning, your employees can also help improve your business by performing market research. Employees can create customer surveys through a website like SurveyMonkey to get important feedback from your customers on what you’re doing right (and, of course, what you can improve). Employees can also conduct research into what your competitors are doing.
Brainstorm & Experiment With New Ideas
Have your employees approached you with ideas that you always push to the back burner? There’s no better time than right now to begin experimenting with these ideas. Host a brainstorming session with your team to come up with ideas for boosting your business. You can explore new products and services, launch a new marketing campaign, or test out other new ideas. Performing market research beforehand (as discussed above) can even help you identify areas where growth and improvement are needed.
Small Businesses Can’t Run Without Employees
Employees are vital to small businesses. While it’s normal to change strategies during the COVID-19 pandemic, think about your business over the long term. Sure, cutting staff now may save you some money, but what happens when it’s back to business as usual? Finding, hiring, and training new employees can be even more of a burden on your business. If you can, instead of laying off your workers, use this time to test out new ideas, provide products and services in new ways, and tackle tasks that have previously fallen by the wayside.
Remember, you aren’t restricted to these ideas, either. Think outside of the box, and encourage your employees to get creative, too. Who knows? You may even find a way to make your business even more successful in the future.
Need additional resources to get through this difficult time? Merchant Maverick has you covered! Check out our COVID-19 hub that offers tips and resources for your business. We’ll help you navigate challenging topics such as getting an SBA disaster loan, adapting to social distancing, or keeping your business running with small business loans. We’ve also launched guides for specific industries, so make sure to take a look at our Coronavirus Survival Guide For Restaurants. What lies ahead for your business may be uncertain, but one thing you can count on is that Merchant Maverick has your back. Good luck and stay safe out there.
The post How To Keep Your Employees On Staff And Busy During The Coronavirus appeared first on Merchant Maverick.
This post originally appeared at GreenGeeks Hosting Review: Pros, Cons & Alternatives via ShivarWeb
GreenGeeks is an independent, rapidly growing hosting company based in California, but with data centers across the US and Europe. GreenGeeks positions itself as a more environmentally friendly host with a focus on customer support.
See GreenGeeks’ Current Plans & Pricing
What is GreenGeeks Hosting?
GreenGeeks is a traditional web hosting company that offers a range of hosting services, including Shared, VPS, and Reseller products, along with complementary products such as domain registration, website builder, and (nominal) WordPress hosting. Here is their pricing chart.
GreenGeeks was founded in 2008 by a veteran of the hosting industry with a then-novel promise of environmental friendliness in an increasingly dirty industry.
GreenGeeks also has a unique focus on simplicity in an increasingly complex industry. Along with InMotion, HostPapa, A2, and SiteGround, GreenGeeks is one of the fewer remaining large hosts that is not owned by Endurance International, the GoDaddy Group, or the Web.com Group.
I recently had a couple of small websites that needed their own hosting accounts. Since I’ve had readers ask about GreenGeeks, I decided to give them a try.
Here’s my GreenGeeks Hosting review structured with pros, cons, and alternatives based on my experience as a customer.
Pros of Using GreenGeeks
There are a lot of GreenGeeks Hosting reviews online – usually with user-generated reviews based on anecdotes and personal experience. That’s fine, but I take a different approach. Like I mention in all my hosting reviews, there is no such thing as a “best” web host. It’s all about the right fit for your project based on your goals, budget, experience & expertise. Here are the pros (advantages) for considering GreenGeeks Hosting.
Speed & Performance
A hosting account can be a lot of things to your business, but the core function of a hosting server is to serve your website files whenever someone requests them. But – the implied adverb there is to serve those files quickly.
In an age of global audiences and multi-device connections, speed matters more than ever. While there are a lot of variables in play with website speed, it’s primarily your hosting server’s job to send the requested files to the visitor’s browser as quickly and as efficiently as possible.
GreenGeeks Hosting makes a lot of claims about their speed.
Some of those claims are just marketing claims that are true across all hosting providers (we’ll cover in the downsides).
But overall, GreenGeeks Hosting does live up to their promises.
One of the main factors of site speed is Time To First Byte (TTFB) – ie, how quickly the server sends the first byte of the first file in response to a request. Here’s how my GreenGeeks Hosting website tested out with a standardized install
Their TTFB was much better than some of their big brand competitors like Bluehost or GoDaddy and competitive with other companies that focus on speed. For example, here’s my TTFB report from tests that I did on my SiteGround website.
A bit faster – but in the same ballpark – especially given the variance that can happen with TTFB tests. And of course, if you have a good server setup, you can do even more (with GreenGeeks Hosting or any other fast hosting company). For example, here’s my TTFB test with an optimized InMotion server.
Overall, GreenGeeks Hosting excels in one of their main claims to fame – speed & performance. If that’s your priority, then they are certainly in the running with other direct competitors.
Company Structure & Mission
First off, I don’t think that a company is “good” or “bad” simply due to its size or customer focus. It’s all about tradeoffs.
There are a lot of major advantages to using a big company. They usually have the resources to provide big comprehensive solutions. They typically have lower unit costs that can be passed to the customer. They are also usually more stable than small, upstart companies.
That said, small companies are usually able to be more agile, closer & more responsive to the customer, and less likely to view customers solely through the lens of a Net Promoter Score.
In the world of hosting – it really depends on your goals & preferences. There is no right answer.
That said, GreenGeeks does have two things going for it.
First, it’s a big advantage that GreenGeeks Hosting is a founder-owned, independent company – simply because that is so rare now. Most hosting companies are brands of Endurance International, GoDaddy or the Web.com group.
And not only is GreenGeeks Hosting independent, but they are also stable and growing and really use their independence to promote transparency and accessibility that a big brand simply can’t match.
If you are someone looking for a hosting company rather than a hosting brand – GreenGeeks Hosting will tick that box. If not, you can ignore this section and keep focusing on your priorities.
Second, is GreenGeeks’ sustainability mission that is built into their business & corporate mission. Web hosting is a pretty carbon-intensive industry. It is responsible for an increasing amount of carbon emissions at a time when our carbon use needs to go down.
GreenGeeks purchases 3x the electricity that they consume in the form of Renewable Energy Credits (RECs) from the Bonneville Environmental Foundation – in addition to conservation measures at data centers.
Now – carbon accounting is outside of the scope of this review. However, RECs are pretty legit from a climate perspective compared to the iffy accounting of the more common “carbon offsets”. Here’s the difference if you’re interested. But the short version is that even though GreenGeeks’ data centers are powered in states with pretty dirty grid power, they purchase 300% of the equivalent electricity consumed from clean grid sources. The end result is that they are putting more clean energy back into the grid than the dirty energy that they are consuming.
The short version – GreenGeeks is an indie company that is more environmentally friendly than other hosting companies. They aren’t merely greenwashing for sales.
Product Simplicity & Transparency
GreenGeeks is simple. They have a few different plans. They have few, if any, upsells. The WordPress auto-install creates a blank, default install with no additional plugins or anything.
GreenGeeks is as transparent as they can be about what equipment you are receiving and why you are getting what you are getting.
GreenGeeks has some elements of marketing-speak that I’ll cover in the downsides (e.g., WordPress hosting vs. Web hosting), but by in large, they run a simple, straightforward operation. As a customer, it’s refreshing and…nice. Big upside for GreenGeeks.
Support Access & Options
Like I’ve mentioned in other hosting reviews, reviewing customer support is tricky. Just like your local restaurant on Yelp, the most positive and most negative reviews are generally worthless.
You never know when issues are customer-caused or when someone simply encountered that one amazing/horrible employee.
I’ve had a good experience with GreenGeeks Hosting. But that’s very anecdotal. So, I also like to look at “proxies” for customer support. In other words, things that indicate something about the culture & processes of customer support.
First – GreenGeeks Hosting provides a lot of different channels for customer support.
They have a phone number front and center. They have an extensive knowledgebase, and live chat. They do well triaging requests via social media.
Second, GreenGeeks’s reps are pretty hands-on – they’ll log into your account and attempt real fixes before having to escalate the issue. While some customers may or may not like that option, it does signal that they see customer support as an investment rather than a cost. That’s the type of general conclusion that I look for – and the one that I think matters in the long-term over a one-off experience.
Like their independent competitors in InMotion and SiteGround, GreenGeek’s customer support is a major pro to choosing them over a big brand hosting company (like GoDaddy) that may or may not prioritize support in the same way. This point segues into another big advantage for GreenGeeks Hosting.
Data Centers & Industry Contrasts
On a related but different note than speed & performance, GreenGeeks scores well as a globally oriented host that can efficiently serve websites around the world.
While there are lots of factors in website speed (like TTFB), the physical location of your server matters a lot. Requests for information travel over physical wires to a physical server. Even at lightspeed, distance matters, especially if you own/maintain a site or if your visitors need to load up many different files.
If you and your audience are on one side of the globe, it’s good to host your files near both you and your audience.
*Note – if you are in one country, but your audience is spread out, most sites solve this problem with a CDN.
Until recently, most cutting edge hosting companies were based & focused on the US market. If you were in Asia or Europe -then you might be stuck with lackluster local hosting and/or slow connection times.
GreenGeeks allows you to select your datacenter among the four that they operate in the US, Canada, and Europe. As long as you aren’t in Austral-Asia, you’ll be set with GreenGeeks.
But second, GreenGeeks is incredibly transparent and normal compared to industry peers. Part of this relates to the simplicity that I already mentioned. But, they are refreshingly straightforward. You can see in the screenshot above that they tell what their data centers’ IP addresses are. They tell you what they can and cannot do.
They provide an ad and upsell-free WordPress auto-install.
Their account management is so simple that it’s boring.
And it’s not really about the simplicity that is attractive per se – it can also have downsides – but it’s about what it says about the company.
GreenGeeks seems to be the type of company that sells a good product. They are proud of it. And that is all. For a product like web hosting, that type of company is usually good to work with.
Cons / Disadvantages of Using GreenGeeks
Like any web host, GreenGeeks has disadvantages. There are plenty of GreenGeeks complaints online. But remember, that like the pros, these are all in the context of your goals & priorities. With that said, here are the cons that I found while using GreenGeeks Hosting.
Price Point
Like I’ve mentioned in other hosting reviews, comparing pricing across hosting companies can be maddening. It’s very difficult to compare apples to oranges because plans generally come with various caps.
That said, I try to look at compare pricing based on the 3 “D’s” of core hosting features –
Domains – how many websites you can run on your account
Databases – how many software installs you can run
Disk Space – how many files you can upload to your account
After looking at “core” hosting features, I like to factor all the possible “bonus” features. Bonus features are features that you should only factor in if they pertain to your goals. For example, if you plan on running Google Ads, then a credit there might be worthwhile, but if not, then it’s something to ignore completely.
Either way, GreenGeeks Hosting has 3 main tiers for shared Linux hosting – the Lite ($9.95/mo at renewal), Pro ($14.95/mo at renewal), and Premium ($24.95/mo at renewal).
With heavy discounting, their plans are not too bad compared to both competitors and discount brands.
That said – they are definitely pricier than most hosting companies that I’ve looked at for a few reasons.
First, their promotional pricing is only valid for 3-year plans. If you only want to pay annually – their renewal pricing is much higher.
Second, their Lite plan is pretty heavily capped. It’s really suitable for literally one website with no additional use cases.
Third, while they do provide some bonuses, they all have some strings attached and may or may not be worth the price jump between tiers.
Now – to be clear, that’s not a bad thing. Price is not a particularly good metric. Every customer should look at overall value for their needs. But either way, GreenGeeks Hosting works at a higher price point than other hosts, and I’m not sure their raw features meet the price point….which segues into the next section.
Product Selection & Feature Set
GreenGeeks keeps their product line-up simple. Even their “WordPress Hosting” is just plain Shared hosting with dedicated support reps.
They don’t have cloud hosting or managed WordPress hosting, or multiple flavors of shared or VPS hosting.
Among their features, they don’t have NGINX, built-in staging, or their own CDN network. They don’t bundle plugins or brand-name SSLs. They use a standard off-the-shelf cPanel and Softaculous installer.
And they set pretty low default memory limits on new WordPress installs.
The ironic thing is that this lack of product features is simply the flip-side of their simplicity and straightforward approach. Most of these features can be changed (like the low default memory allocation) or can be solved in other ways.
However, for customers who are expecting all the things to be pre-bundled and convenient – it’s a downside compared to other competitors.
Think about your local grocery store. Costco is able to keep stuff in stock and to keep low prices low because they have a shockingly low number of SKUs. You won’t find 26 brands of hot sauce in Costco. That would drive me nuts. I love going to my local Super Kroger with dozens of national and local brands…that might sometimes be out of stock or more expensive.
In the analogy, GreenGeeks is Costco. They have what you need, just don’t expect dozens of add-ons and bells and whistles. For example, they don’t have Bluehost’s super easy and custom cPanel and they don’t have InMotion’s custom WordPress plans. But that’s also not GreenGeeks’ thing.
Onboarding & Product Setup
In a similar fashion to feature simplicity, GreenGeeks has a pretty plain, vanilla process of onboarding and product setup.
Sure, they don’t have lots of upsells and clutter, but it’s also more old-school than other hosting brands. Here are their account setup emails.
As you can see, it’s solidly fine. They give you what you need. But there’s also no hand-holding. That’s great…unless you find hosting to be daunting and need some help / pointers.
Bundles & Bonuses
Lastly, and on a very similar note, is their lack of bundles and bonuses. Most hosting companies are racing to become “platforms”. And part of that is a push to bundle products to keep your customers around.
WP Engine bundles high-quality themes. InMotion bundles high-quality JetPack plugins and caching plugins. Bluehost has an entire theme / app marketplace. HostGator has a top-notch drag and drop builder.
And even among other hosting companies that aren’t bundling, they are providing more bonuses or carving out a unique position. SiteGround has a suite of developer tools. HostPapa has a range of international support options, etc.
GreenGeeks’ “thing” seems to just be their sustainability pitch. That’s great – and I certainly applaud that. But as a customer, it’s important to be aware of what you need & don’t need before you make that tradeoff. Individual action on climate is a must, but society-level action is still the most critical piece. I bought a used Nissan Leaf even though it has less range and less space than a petroleum powered car. But also…I don’t need lots of range or a lot of hauling space for my day to day use. The consideration should be the same with GreenGeeks.
GreenGeeks Alternatives & Comparisons
Out of all the hosting companies that I’ve used myself or via a client, here’s how GreenGeeks compares with a few select ones.
GreenGeeks vs. SiteGround
SiteGround is one of GreenGeek’s big independent (ie, also not owned by a big holding company) competitors. They both have a focus on speed with reputations for solid support. SiteGround shares many of GreenGeek’s positives (including speed, support, and data centers) with some of the same downsides. You can read my full SiteGround Hosting review here. If you are in Asia or Africa are looking for more hosting bonuses, then I’d use SiteGround. If you are in the US or Europe and want a straightforward host (or like GreenGeeks’ mission), then I’d go with GreenGeeks.
GreenGeeks vs. Bluehost
Bluehost is one of Endurance International’s most well-known brands. They beat GreenGeeks on pricing and onboarding. However, GreenGeeks does somewhat better with performance and core hosting features whereas Bluehost has better “bonuses” and onboarding. If GreenGeeks’ mission or independence matters more to you – then pay a bit extra for GreenGeeks Hosting. If you’re just running a project on a budget or need better Getting Started guidance, then go sign up for Bluehost.
GreenGeeks vs. GoDaddy
GoDaddy is the giant of the web hosting world. In fact, they have tried to go beyond hosting to become more of a platform. Their actual hosting products are sort of buried among all their other offerings. But in general, they’ll have better short-term pricing and better complementary products than GreenGeeks. But they’ll lag on customer support, core hosting features, performance, and long-term pricing. They also have a history of brand controversies that directly contrasts with GreenGeeks’ brand and transparency. Unless you have a specific reason to use GoDaddy, you should sign up for GreenGeeks.
GreenGeeks vs. A2 Hosting
A2 Hosting is one of GreenGeek’s big independent (ie, also not owned by a big holding company) competitors. They both have a focus on speed with reputations for solid support. A2 Hosting shares many of GreenGeek’s positives (including speed, support, and data centers) with some of the same downsides. You can read my full A2 Hosting review here. A2 Hosting has some additional upsides like Windows hosting, but also many more downsides like upsells and complexity. If you are in the US or Europe and want a straightforward host (or like GreenGeeks’ mission), then I’d go with GreenGeeks. If you have a reason to use A2 Hosting (ie, sale pricing or Windows hosting), then A2 Hosting would be fine.
GreenGeeks vs. InMotion Hosting
InMotion Hosting is one of GreenGeeks’s big independent (ie, also not owned by a big holding company) competitors. GreenGeeks offers global data centers and a simplicity in plan structure that InMotion does not. Beyond that, I’ve found that InMotion provides all of GreenGeeks’s benefits (even some of their environmental commitments & a cleaner grid source) without the downsides. InMotion has very involved support and a solid pricing structure. You can read my full review of InMotion Hosting here, but unless you need European data centers or GreenGeeks’ structure, I would recommend signing up for InMotion Hosting.
Next Steps & Conclusion
There’s a reason GreenGeeks is one of the fastest growing independent hosting companies. They have a solid product and a great support.
If you are looking for a full service hosting company with solid support, good performance, and a green mission, then – See GreenGeek’s Current Plans & Pricing
If you are looking for a hosting company with all the benefits of GreenGeeks Hosting – but with better pricing and product bonuses, I’d go with InMotion Hosting. See InMotion’s plans & pricing here.
If you are more confused than ever – then take my Web Hosting Quiz here or use my website setup guide here!
GreenGeeks Reader FAQs
What is GreenGeeks?
GreenGeeks is an independent web hosting service based in Los Angeles. They offer products ranging from Shared to Dedicated servers in addition to complementary products such as domain registration and website builders.
Is GreenGeeks Good?
GreenGeeks has strengths in product performance, customer support, simplicity, and their environmental commitment. They are a bit pricier and lack advanced hosting plans of some competitors.
How do I install WordPress on GreenGeeks?
After purchasing a plan (shared, VPS, or WordPress) on GreenGeeks, access your cPanel (server software) via your account dashboard. Browse to web apps, select WordPress QuickInstall. Fill out the fields, and wait while WordPress is auto-installed on your account. Explore screenshots at this WordPress set up guide.
Who owns GreenGeeks?
GreenGeeks was founded by and privately held by Trey Gardner since 2006.
GreenGeeks Hosting
GreenGeeks is a solid, independent hosting company with a focus on product performance, customer support, and environmental sustainability.
