Business Tips & Tactics



Margaret Lenihan, Senior Vice President, Business Banking Director at PeoplesBank5 Ways to Boost Your Cash Flow

Making sure you have the cash available to meet your obligations on time is as much a part of running a business as hiring staff and doing your taxes. In fact, 40 percent of small businesses recently surveyed named cash flow as a top concern for 2017. To keep cash flowing smoothly, you need to determine what might cause the occasional slowdown.

Review this list to identify the tactics you might use to free up cash for your business.

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Hiring the Right Candidate: 4 Essential Dos & Don’tsHiring the Right Candidate: 4 Essential Dos & Don'ts

The employees you hire can make or break your business. While it’s tempting to hire the first good prospect that comes along and “just get it over with,” that can be a mistake. Small companies can't afford to carry underperformers, so start smart by taking time to figure out your staffing needs before you even begin your search.

Here are some tips to get yourself ready.

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Jay Seyler, Vice President, Business Banking Officer at PeoplesBankPlanning for Small Business Growth: Three Strategies to Hit the Next Level

After creating your business plan, raising capital and opening your doors, your next task is to make a profit. But once the money is coming in and your operation is sustaining itself, you want to start thinking about growth. How do you achieve growth? The answer is to plan for it, and it is never too early to start. Learning and utilizing one or all three of these growth strategies will help your business take the leap to the next level.

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5 Keys to Forming an A-List Advisory Board5 Keys to Forming an A-List Advisory Board

To help accelerate and increase the probability of success, owners should seek other industry leaders to support and evangelize their efforts. Enter the advisory board. From ongoing product feedback to investor due diligence, media interviews, customer prospects and more, a strong advisory board can change the course of a company in ways it can’t accomplish through any other method.

For those looking to get a stellar advisory board together, here are five key steps:

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Joan Leahy, Vice President of Marketing for PeoplesBank4 Ways to Steer the Customer Journey to Your Front Door

Many businesses would describe the customer journey using one word: buy. Yet, we all know that the journey is not one step. In fact, mobile has fractured the customer journey into many steps, and the path to purchase is different for every product and service. “If you want to win online or offline sales,” suggests Joan Leahy, Vice President of Marketing for PeoplesBank, “it has never been more important than now to understand how your customer will get to you and what will motivate them to become just that – your customer.”

In his book “Seven Habits of Highly Successful People,” author Stephen Covey touts the benefits of beginning with the end in mind. In terms of assessing the customer journey, however, that is a trap many of us fall into....

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Unlock Potential: 5 Successful Secrets to Motivating EmployeesUnlock Potential: 5 Successful Secrets to Motivating Employees

As a business, your most valuable assets are your employees. When your staff is happy and motivated, they're more likely to perform at the highest levels. “The best way to create this type of environment is by giving everyone a sense of ownership,” says Margaret Lenihan, Senior Vice President, Cash Management at PeoplesBank.

In other words, get all your employees to think like entrepreneurs. “If your employees don't feel they own their own spaces,” adds Ms. Lenihan, “they will constantly wait for your day-to-day directions and expect you to solve every problem.”

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“Business needs change from year to year and business banking needs may have also changed as well.” - Dave Thibault, Vice President, Cash Management at PeoplesBankThe Financial Physical: An Annual Checkup to Ensure Your Business Is Banking Healthy

The secret of successful businesses is that they are constantly reassessing their business needs. While some aspects of a business, like employee performance or the need for new equipment, are reevaluated frequently, one aspect of a business—its banking—can often be overlooked. “Business owners should consider a financial physical,” suggests Dave Thibault, Vice President, Cash Management at PeoplesBank. “Business needs change from year to year and business banking needs may have also changed as well.

"Similar to a real physical, it’s a quick face-to-face chat. It allows my...

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Creating a High Performance CultureCreating a High Performance Culture

The recipe for high-performing employees might have less to do with “work” than you think.

Every business wants employees to perform at their best. Most of us get caught up in the various metrics that prove or disprove individual job performance. Of course this data is important, but what if it was less important than we think it is?

That is what we found at PeoplesBank when we set out to establish the values that would enable a high-performance culture. While the road map of our success is measured in years, the steps to creating a culture .....

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Businesswoman 101: Get A Mentor Now!Businesswoman 101: Get A Mentor Now!

The benefits of having a mentor are no secret in the business world.

Statistics show that mentees develop stronger skill sets, get promoted faster and earn more money. Despite all the research that shows the benefits of having a mentor, 63% of professional women report that they have never had one.

While Karen Buell, Vice President, Customer Innovation Lab at PeoplesBank, was not aware of the statistical benefits of being mentored, she knew that she wanted one. She contacted the Human Resources...

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