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Suggest You - 10 Tips to Grow Your Business Plain & Simple
Some smart souls take their credit card, cut it into a million pieces, and walk away without a backward glance. Other smart souls take their card and tuck into their wallet only using it if they find themselves facing an emergency. Still other smart souls use their credit card for regular daily purchases and then pay the subsequent bill each and every month. A few smart souls even use their cards to splurge and then spend the rest of the month digging through the couch cushion looking for spare change when the bill arrives in the mail.Which type of customers do you think the credit card companies prefer?The goal of the credit card companies
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add v
The best way to generate new business is by referrals. It doesn't matter whether your business is a hair salon, mortgage broker, boat sales, or anything in between. The most loyal customers you will ever receive will be the ones that were referred to you by another satisfied customer!Not only are they more loyal (read: "repeat business"), but they are more likely to spend more initially than a customer that just walked in off the street, responded to a newspaper ad, cold call, or a trade magazine article.Why are referrals so important to your business?1. Referrals are believable from the very start. It's not you selling your busines
Recently I heard a statistic that the majority of businesses operate at 60% of their potential. While I was unable to obtain the source of that statistic it seemed rather accurate or maybe even high. The Small Business Association reports that “2/3 of new employer firms survive at least 2 years, and about 1/2 survive at least 4 years.” The language they use is almost as scary as the statistics themselves. This article provides tips to help you develop and grow a strong, solid business foundation.
1- Solid Plan with a Clear Simple Vision- Think of the impact you would like your business to have in the world. Think big! You may never reach your vision but the vision itself is so grand that your team gets excited about it. Then back up and look at what would have to happen to get there. Create a solid plan with realistic short and long term goals.
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add va
It is amazing the amount of dollars that companies spend on marketing campaigns and even more interesting how few of them really work well. Just because you are spending lots of money does not mean your marketing will automatically be successful. I can certainly remember many of our company’s competitors spend like the Dickens when we would come to their town and market.We would see their advertising, expensive advertising all over the place. But they often spent their advertising and marketing dollars in correctly and wasted their efforts. We simply passed them by like there was no tomorrow. They would go on Cable TV, radio and in the newspaper fo
1- Solid Plan with a Clear Simple Vision- Think of the impact you would like your business to have in the world. Think big! You may never reach your vision but the vision itself is so grand that your team gets excited about it. Then back up and look at what would have to happen to get there. Create a solid plan with realistic short and long term goals.
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add v
What’s the best branding strategy for your company?The answer is, it depends.The latest thinking in the field of branding (which first began to emerge as a true field of study back in the early ‘50s) identifies five branding strategies that reign supreme in today’s corporate world. Although each strategy can be successfully employed by companies offering very different products and services, they all seem to work best within fairly narrow parameters that pertain to the industry, product or service and market being served.Choosing the best strategy for your company, then, depends on matching the parameters of
1- Solid Plan with a Clear Simple Vision- Think of the impact you would like your business to have in the world. Think big! You may never reach your vision but the vision itself is so grand that your team gets excited about it. Then back up and look at what would have to happen to get there. Create a solid plan with realistic short and long term goals.
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add v
Corporate restructuring – also known as downsizing or rightsizing – is something that many of us have faced in our career and might yet experience in the future (hopefully not…but you can never tell).I’ve been a victim of corporate restructuring twice in my career. Twice I was laid off and in the first case, the whole company actually closed down so it was actually more than just an organizational restructuring but the result was the same: I lost my job.I’ve also worked for a company that restructured regularly and I was able to survive each and every one of them while others were let go.A corporate restructuring essentially refers to
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add v
In Chapter Seven of Sun Zi Art of War, Sun Zi mentioned four important areas to achieve a good fighting force. They are:1) Morale 2) Psychology 3) Physique 4) ChangeMorale refers to the fighting spirit or the troops' willingness to fight. Psychology refers to emotional intelligence of the troops, their ability to manage their emotions. Physique refers to the well-being of the troops, whether they are well fed or well rested. Change refers to the troops’ ability to respond to situations.So how can we apply this to business?Business ApplicationMorale This is the most important ar
2- Focus on Profitability vs. Revenue- While revenue is important, high revenue doesn’t add value if your expenses are just as high. What can you do to create more profit? Possibly develop various streams of income. What expenses could be reduced or eliminated? How can you operate more efficiently? Think profit.
3- Work “in” and “on” your business- Sometimes we get so caught up in daily tasks “in” our business we forget to step back to take a wider look from the outside. Seeing it through a customer’s eyes. Noticing how it fits into the community. Preparing the future of the company. On the other hand, we can get so comfortable working “on” our business we forget to step in to talk with customers and experience what the employees face on a daily basis.
4- Automate and Create Systems- What do you need to automate? What system can you put in place that would free up your time or make you more money? What tasks need to
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