Free daily tips, information, advice, ideas,
with examples from real small businesses.
Many small businesses sell to other businesses, companies, corporations, and other big time operations. You work hard to get and keep these accounts--they represent pathways to growth for your small business.
Getting paid, however, can become a problem with big accounts. Frequently, they don't pay on time, leaving you scrambling for cash flow.
Here are three methods I've used with some success to keep them paying on time.
1. Change your terms. Offer a 2% discount if they pay within 10 days or 30 days--whatever you're comfortable with pushing. When invoices arrive at the accounts payable departments of big operations, those offering discounts get attention right away. It's their way of prioritizing your invoice in their system.
2. Set up progress payments. If you are providing a service based on significant inputs of labor/materials, set up contractual milestones that trigger partial payments on the overall project. As project phases are completed, send the appropriate invoice, referencing the agreement. This method is frequently used in the construction, building trades, printing and other industries, and it can work in other businesses as well.
3. When dealing with a buyer who is "lost" in the corporate structure of a big company, it's useful to develop a close and continuing relationship with regard to payments. A face-to-face conversation about timely payments will frequently get positive results. Calls to the accounts payable department are not very effective, and letters from collection bureaus can spoil the relationship. But a manager inside the company and who values the work you are providing, that person can cut through the bureaucratic paperwork logjam and get you paid.
I once had a conversation with a senior vice president of a major corporation about this. The company was three months in arrears and still ordering. Exasperated, I blurted out that I was not in the business of financing his company. That was it--I had put my finger on the problem in a way that he understood. By continuing to furnish him the materials he ordered, and, at the same time, not being paid in a timely manner, I was providing financing. He suddenly understood that I was not a bank. He picked up the phone and had a check delivered to me the next day.
Many big companies use this deliberately. They lean on the small businesses that supply them, knowing that the small business will be reluctant to complain too loudly. The person who can cut through this problem is your contact--the more senior, the better.
Small businesses that sell to big companies have a valuable customer. But the relationship must be carefully nurtured and managed on all fronts, including accounts receivable.
Unpaid accounts receivable can cause many problems for a small business. I wrote about this about six months ago--thought it was time to cover again.
Friday, October 31, 2014
Thursday, October 30, 2014
Business friends
Free daily tips, information, advice, ideas,
with real business examples.
Customers and clients are the most important part of business. Without them, you don't have a business.
So, how do you find them and treat them?
Let's talk about friends. Everyone has personal friends. And everyone has casual friends who are not so personal.
Customers and clients are a third type of friend. These are business friends.
These people have needs that can bring them to you. You offer products or services they want.
If you treat your business friends as personal friends, some of them will be turned off. They will view your attentions as an invasion of privacy.
If you treat them as casual friends, you run another risk. They might misinterpret your attention (of lack of) as less than serious.
However, if you treat them as business friends, you have the best chance of success.
So, what exactly is a business friend? Two examples tell the tale.
Example: Elaine promotes her fashionable shop for women with social media posts of new designs she offers. Twice each year, she mounts a live fashion show with models wearing the designs carried in the shop. Models mingle with guests. Shoes, handbags and accessories are prominently displayed. Before and after the show, pictures are posted on social media. In addition, Elaine has developed a mailing list and she uses it in two ways. (1) She sends out gift certificates along with an invitation to special private showings. (2) She sends a Thank You card anytime someone spends over $100 in the shop. Elaine also makes herself available at all times to answer questions, discuss trends, and be the go-to adviser for clothing and accessories. All these activities contribute to building the business friend base.
Example: Marsha started out with a small yoga studio, attracting a loyal base of business friends with her training, expertise, and relaxed attitude. Her clients lingered after their sessions, and she listened carefully to their concerns and problems. They had questions about nutrition, meditation, massage and other alternative therapies. So, a couple of years ago, Marsha decided to grow her business into more than her yoga sessions. Since then, she has attracted other professionals who offer a wide range of therapies. Together, they schedule open houses, programs, events, and information sessions built around the interests of the growing base of business friends. Everyone at the wellness center is sensitive to clients, trained to listen, spend time together and freely furnish information. With many pictures and posts on social media, the base of business friends continues to grow. Marsha still sees private yoga clients herself, but her wellness center has expanded far beyond yoga.
These two examples show how small businesses can grow. In both cases, there is an intense focus on the customers and clients--their interests, their concerns, and their needs. When you listen carefully, your business friends will show you the way forward.
Building your base of business friends takes attention, listening, transparency, honesty, and going the extra mile. Social media can provide many opportunities to nourish business friends--and extend your reach to many more people. The marketing mechanisms for small businesses have taken a quantum leap.
Many more examples of cultivating business friends are scattered throughout these write-ups. Promoting and growing your small business has never been easier. Facebook offers a wealth of opportunities that were not available in yesterday's world.
with real business examples.
Customers and clients are the most important part of business. Without them, you don't have a business.
So, how do you find them and treat them?
Let's talk about friends. Everyone has personal friends. And everyone has casual friends who are not so personal.
Customers and clients are a third type of friend. These are business friends.
These people have needs that can bring them to you. You offer products or services they want.
If you treat your business friends as personal friends, some of them will be turned off. They will view your attentions as an invasion of privacy.
If you treat them as casual friends, you run another risk. They might misinterpret your attention (of lack of) as less than serious.
However, if you treat them as business friends, you have the best chance of success.
So, what exactly is a business friend? Two examples tell the tale.
Example: Elaine promotes her fashionable shop for women with social media posts of new designs she offers. Twice each year, she mounts a live fashion show with models wearing the designs carried in the shop. Models mingle with guests. Shoes, handbags and accessories are prominently displayed. Before and after the show, pictures are posted on social media. In addition, Elaine has developed a mailing list and she uses it in two ways. (1) She sends out gift certificates along with an invitation to special private showings. (2) She sends a Thank You card anytime someone spends over $100 in the shop. Elaine also makes herself available at all times to answer questions, discuss trends, and be the go-to adviser for clothing and accessories. All these activities contribute to building the business friend base.
Example: Marsha started out with a small yoga studio, attracting a loyal base of business friends with her training, expertise, and relaxed attitude. Her clients lingered after their sessions, and she listened carefully to their concerns and problems. They had questions about nutrition, meditation, massage and other alternative therapies. So, a couple of years ago, Marsha decided to grow her business into more than her yoga sessions. Since then, she has attracted other professionals who offer a wide range of therapies. Together, they schedule open houses, programs, events, and information sessions built around the interests of the growing base of business friends. Everyone at the wellness center is sensitive to clients, trained to listen, spend time together and freely furnish information. With many pictures and posts on social media, the base of business friends continues to grow. Marsha still sees private yoga clients herself, but her wellness center has expanded far beyond yoga.
These two examples show how small businesses can grow. In both cases, there is an intense focus on the customers and clients--their interests, their concerns, and their needs. When you listen carefully, your business friends will show you the way forward.
Building your base of business friends takes attention, listening, transparency, honesty, and going the extra mile. Social media can provide many opportunities to nourish business friends--and extend your reach to many more people. The marketing mechanisms for small businesses have taken a quantum leap.
Many more examples of cultivating business friends are scattered throughout these write-ups. Promoting and growing your small business has never been easier. Facebook offers a wealth of opportunities that were not available in yesterday's world.
Wednesday, October 29, 2014
Promotion ideas
Free daily tips, information, advice, and ideas,
with business examples drawn from real life.
Promoting is something you do all the time. You try to get more referrals, you put the word out on Facebook, LinkedIn and other social media, you join networking groups, and you hold events to attract attention.
But there is always something new to try. What works for you might not work for the next person in business, and vice versa. And what works this year might not next year. And so it goes. Remember, the business environment, like the weather, is continually changing.
The best promotions grow out of your operation, or they become a part of the operation. And best of all, they are inexpensive. Here are three examples of this--build on what you already have.
Example: Ed is trained and certified in acupuncture. He set up a place and has a growing list of clients. To grow more, he set aside a large room where several people can lie down, relax in a communal setting. These are short, inexpensive, stress-reducing sessions. It's quiet and no electronics of any kind can be carried into the room. To attract more attention, Ed offers discounts to those who bring along a friend. He posts pictures on Facebook and short explanations on LinkedIn. Many of his clients are corporate types looking for relief from the stresses of their positions. Best of all, it's working to bring in more private clients with problems that require longer sessions.
Example: Ellen runs a small neighborhood restaurant. She knows that her reputation is spreading because more new people are showing up. To speed up the process, she has coupons printed offering one dollar off a meal. They are printed to suggest the size and color of real money. Ellen hands these out when people pay their bill, encouraging them to take a couple more for their friends. Her customers gladly promote for her, and it's working. Ellen is seeing more new faces with coupons in hand.
Example: Mary runs a fitness center. She tried joining networking groups to spread the word, and she got some results. But she thought she could do better. She went up on MeetUp.com, formed her own local networking group, and set meetings once each month. Her fitness center was large enough to accommodate those who showed up. There were no rules--just show up, meet other people from the area, and expand your own area of influence. Her monthly sessions became a popular community gathering. Regulars looked forward to interacting with others, and they brought new attendees. Mary spreads the word on Facebook, LinkedIn, and, of course, MeetUp. The result has been a great deal of publicity for her fitness center, and she has signed up many additional clients.
Promotional ideas are everywhere. Try something and build on it. Notice that the examples above took little, if any, actual money to put in place--just an attitude willpower and persistence.
Promoting is an on-going activity for your business. And promoting can take many forms. See other examples scattered throughout these write-ups.
with business examples drawn from real life.
Promoting is something you do all the time. You try to get more referrals, you put the word out on Facebook, LinkedIn and other social media, you join networking groups, and you hold events to attract attention.
But there is always something new to try. What works for you might not work for the next person in business, and vice versa. And what works this year might not next year. And so it goes. Remember, the business environment, like the weather, is continually changing.
The best promotions grow out of your operation, or they become a part of the operation. And best of all, they are inexpensive. Here are three examples of this--build on what you already have.
Example: Ed is trained and certified in acupuncture. He set up a place and has a growing list of clients. To grow more, he set aside a large room where several people can lie down, relax in a communal setting. These are short, inexpensive, stress-reducing sessions. It's quiet and no electronics of any kind can be carried into the room. To attract more attention, Ed offers discounts to those who bring along a friend. He posts pictures on Facebook and short explanations on LinkedIn. Many of his clients are corporate types looking for relief from the stresses of their positions. Best of all, it's working to bring in more private clients with problems that require longer sessions.
Example: Ellen runs a small neighborhood restaurant. She knows that her reputation is spreading because more new people are showing up. To speed up the process, she has coupons printed offering one dollar off a meal. They are printed to suggest the size and color of real money. Ellen hands these out when people pay their bill, encouraging them to take a couple more for their friends. Her customers gladly promote for her, and it's working. Ellen is seeing more new faces with coupons in hand.
Example: Mary runs a fitness center. She tried joining networking groups to spread the word, and she got some results. But she thought she could do better. She went up on MeetUp.com, formed her own local networking group, and set meetings once each month. Her fitness center was large enough to accommodate those who showed up. There were no rules--just show up, meet other people from the area, and expand your own area of influence. Her monthly sessions became a popular community gathering. Regulars looked forward to interacting with others, and they brought new attendees. Mary spreads the word on Facebook, LinkedIn, and, of course, MeetUp. The result has been a great deal of publicity for her fitness center, and she has signed up many additional clients.
Promotional ideas are everywhere. Try something and build on it. Notice that the examples above took little, if any, actual money to put in place--just an attitude willpower and persistence.
Promoting is an on-going activity for your business. And promoting can take many forms. See other examples scattered throughout these write-ups.
Tuesday, October 28, 2014
Unusual start-ups
Free daily tips, information, advice, and ideas
with examples from real businesses
Getting into business can be a natural outgrowth of youthful activities. Early interests can form the basis for a little--or big--business of your own.
Example: Krystal loved jigsaw puzzles and hated her corporate job. She had collected hundreds of puzzles over the years, keeping them neatly stacked in bookcases. Her friend Stan encouraged her to open a puzzle store. She was reluctant, but she finally decided to take the plunge. Krystal and Stan found a small place on a side street and signed the lease. He built shelves and together they painted the place. They found a large farm table, fitted it with a glass top, and surrounded it with chairs they found at thrift shops. Krystal brought in her jigsaw puzzles and searched for more at yard sales. She rounded out the store's offerings with other types of puzzles, board games and video games. Gradually, the place found its customer base with the help of social media and word of mouth. Two nights each week, people gather around the big table doing puzzles in a community talkfest. Krystal never regretted leaving her corporate job.
Example: Sheena loved hair. As a child, she helped her sisters and their friends "fix" their hair. She would cut, braid, shape, and curl until she achieved perfection. There was no question about it--Sheena was headed toward a career in hair. She surprised everyone, however, by opening--not a salon, but a wig shop. Sheena had done her research, and she had found a market for high quality wigs shaped and styled professionally. Today, she counts among her clients many celebrities, actors, executives, movie and theater production people. Word of mouth referrals grow Sheena's business.
Example: Arthur showed an early interest in glass. Growing up, he could be found melting together glass from broken colored glass bottles. Early on, he discovered the history of glass-making in the United States, and he put himself through an informal apprenticeship with a glass blower. He learned how to blow table pieces and how to introduce color into the glass. In college Arthur concentrated on art glass and began selling some of his pieces. His reputation grew and today he supports his family with a steady production of hand-blown glass pieces, all exquisite and expensive. He attends a couple of high-end shows each year, but much of his work is done on consignment.
Early interests frequently blossom into the business an adult establishes. Anything can be turned into a business--if you're interested, others are interested. And they become your target market.
If you are in a job you can't stand, quit and do something else. If your business doesn't inspire you to jump out of bed every morning, go off in a different direction. The answer is inside your own head. Look to the things you've left behind.
These write-ups are meant to inform and inspire. Examples of unusual start-ups are scattered throughout. People turn all sorts of interests into thriving businesses.
with examples from real businesses
Getting into business can be a natural outgrowth of youthful activities. Early interests can form the basis for a little--or big--business of your own.
Example: Krystal loved jigsaw puzzles and hated her corporate job. She had collected hundreds of puzzles over the years, keeping them neatly stacked in bookcases. Her friend Stan encouraged her to open a puzzle store. She was reluctant, but she finally decided to take the plunge. Krystal and Stan found a small place on a side street and signed the lease. He built shelves and together they painted the place. They found a large farm table, fitted it with a glass top, and surrounded it with chairs they found at thrift shops. Krystal brought in her jigsaw puzzles and searched for more at yard sales. She rounded out the store's offerings with other types of puzzles, board games and video games. Gradually, the place found its customer base with the help of social media and word of mouth. Two nights each week, people gather around the big table doing puzzles in a community talkfest. Krystal never regretted leaving her corporate job.
Example: Sheena loved hair. As a child, she helped her sisters and their friends "fix" their hair. She would cut, braid, shape, and curl until she achieved perfection. There was no question about it--Sheena was headed toward a career in hair. She surprised everyone, however, by opening--not a salon, but a wig shop. Sheena had done her research, and she had found a market for high quality wigs shaped and styled professionally. Today, she counts among her clients many celebrities, actors, executives, movie and theater production people. Word of mouth referrals grow Sheena's business.
Example: Arthur showed an early interest in glass. Growing up, he could be found melting together glass from broken colored glass bottles. Early on, he discovered the history of glass-making in the United States, and he put himself through an informal apprenticeship with a glass blower. He learned how to blow table pieces and how to introduce color into the glass. In college Arthur concentrated on art glass and began selling some of his pieces. His reputation grew and today he supports his family with a steady production of hand-blown glass pieces, all exquisite and expensive. He attends a couple of high-end shows each year, but much of his work is done on consignment.
Early interests frequently blossom into the business an adult establishes. Anything can be turned into a business--if you're interested, others are interested. And they become your target market.
If you are in a job you can't stand, quit and do something else. If your business doesn't inspire you to jump out of bed every morning, go off in a different direction. The answer is inside your own head. Look to the things you've left behind.
These write-ups are meant to inform and inspire. Examples of unusual start-ups are scattered throughout. People turn all sorts of interests into thriving businesses.
Monday, October 27, 2014
Restaurant ideas
Free daily tips, info, advice, and ideas,
with examples from real businesses.
Restaurants are difficult to establish and operate. Many don't make it past five years.
Those that survive owe a lot to hard work, persistence, and an attitude--never give up. Some try different approaches before settling on the one that works.
Example: Clarence bought a restaurant that was going downhill. The clientele had drifted away, and the former owner did little to counteract the slide. The place had a large dining room and a large extra room for parties. Clarence considered changing the menu, the decor, and the furnishings. But he decided to "punch up" the menu, upgrade the decor, and replace the tables and chairs. He wanted to capture and hold the attention of his regulars while he concentrated on putting that extra party room to more use. He began contacting local organizations, groups, and businesses--offering them free use of the room for their meetings and for a set price he would cater food and drink. Soon, Clarence was catering two or three meetings every week. This introduced his "new" restaurant to more people--he began to get calls from corporate event people. Meanwhile, he kept improving and adding to the menu. It took a couple of years, but the restaurant that was headed toward oblivion is now turned around and profitable.
Example: Phyllis wanted to establish an exclusive cafe serving breakfasts only. She targeted that narrow market segment of upscale executives, professionals, managers and others. These people were looking for a healthy breakfast and relaxed conversation among their peers. Phyllis leased a place that could seat 50 or so at tables in three small rooms. She offered memberships that included a key card to the front door that was kept locked. There was no sign anywhere--members had to know this place in order to find it. Memberships included free coffees and teas, lattes and cappuccinos. Members placed breakfast orders on apps as they headed to the place, or they had standing orders. They paid for individual breakfasts at their convenience--the bill was sent to their phone. Phyllis was apprehensive in the beginning that it would take months to get established, but social media did the job in a few weeks. The place is filled every morning beginning at 6 a.m. and there is a waiting list wanting to buy memberships.
Example: Yma had an idea for a new type of restaurant. Well, not really new. Yma's grandmother had run a boarding house, serving lunches and dinners family-style. The big dining room table could seat 16 people--and it was usually full. Diners passed bowls of vegetable and platters of meats. The aroma of freshly baked bread filled the place. The operation enjoyed a good reputation, frequently attracting townspeople to fill out two seatings. Yma inherited her grandmother's house, that big table, and the memories. She was determined to establish her own restaurant--again, family-style. Yes, she offered a large buffet, but diners were encouraged to pass dishes around the table and engage in conversation. The operation attracted families anxious to experience the community feeling of meeting and dining together. No phones are allowed in the room, but reservations are now required to get in.
Restaurants reflect the food, the ambiance of the place, as well as the personality of the owner. Bringing all this together takes skill--with a view of the targeted diner group.
New ideas can attract new attention. And some old ideas are always good possibilities.
Additional examples of taking restaurants and cafes in a new direction are scattered throughout these write-ups.
with examples from real businesses.
Restaurants are difficult to establish and operate. Many don't make it past five years.
Those that survive owe a lot to hard work, persistence, and an attitude--never give up. Some try different approaches before settling on the one that works.
Example: Clarence bought a restaurant that was going downhill. The clientele had drifted away, and the former owner did little to counteract the slide. The place had a large dining room and a large extra room for parties. Clarence considered changing the menu, the decor, and the furnishings. But he decided to "punch up" the menu, upgrade the decor, and replace the tables and chairs. He wanted to capture and hold the attention of his regulars while he concentrated on putting that extra party room to more use. He began contacting local organizations, groups, and businesses--offering them free use of the room for their meetings and for a set price he would cater food and drink. Soon, Clarence was catering two or three meetings every week. This introduced his "new" restaurant to more people--he began to get calls from corporate event people. Meanwhile, he kept improving and adding to the menu. It took a couple of years, but the restaurant that was headed toward oblivion is now turned around and profitable.
Example: Phyllis wanted to establish an exclusive cafe serving breakfasts only. She targeted that narrow market segment of upscale executives, professionals, managers and others. These people were looking for a healthy breakfast and relaxed conversation among their peers. Phyllis leased a place that could seat 50 or so at tables in three small rooms. She offered memberships that included a key card to the front door that was kept locked. There was no sign anywhere--members had to know this place in order to find it. Memberships included free coffees and teas, lattes and cappuccinos. Members placed breakfast orders on apps as they headed to the place, or they had standing orders. They paid for individual breakfasts at their convenience--the bill was sent to their phone. Phyllis was apprehensive in the beginning that it would take months to get established, but social media did the job in a few weeks. The place is filled every morning beginning at 6 a.m. and there is a waiting list wanting to buy memberships.
Example: Yma had an idea for a new type of restaurant. Well, not really new. Yma's grandmother had run a boarding house, serving lunches and dinners family-style. The big dining room table could seat 16 people--and it was usually full. Diners passed bowls of vegetable and platters of meats. The aroma of freshly baked bread filled the place. The operation enjoyed a good reputation, frequently attracting townspeople to fill out two seatings. Yma inherited her grandmother's house, that big table, and the memories. She was determined to establish her own restaurant--again, family-style. Yes, she offered a large buffet, but diners were encouraged to pass dishes around the table and engage in conversation. The operation attracted families anxious to experience the community feeling of meeting and dining together. No phones are allowed in the room, but reservations are now required to get in.
Restaurants reflect the food, the ambiance of the place, as well as the personality of the owner. Bringing all this together takes skill--with a view of the targeted diner group.
New ideas can attract new attention. And some old ideas are always good possibilities.
Additional examples of taking restaurants and cafes in a new direction are scattered throughout these write-ups.
Friday, October 24, 2014
Marketing gifts
Free tips, info, advice, ideas, plus
examples showing real business situations.
Sometimes you can expand your business just by spotting a marketing gift. Alert owners can take advantage of the unexpected situations that come up.
Example: Isabelle is a certified therapist specializing in helping clients through stress, PTSD, grief, and related issues. She noticed that many of her clients had gone through drug and alcohol addiction rehab programs, but large numbers of them were still fighting their old habits. Today, Isabelle has extended her practice to help rehab "graduates" cope with their on-going problems. They represent a well-defined market of people who need specific help. Isabelle is developing several programs specifically for post-rehab people. It's another area of therapy that is bringing in an increasing number of clients. She is building on what she already does.
Example: Joe runs a small independent pest control company. He has experienced difficulty "breaking out" ahead of the competition. When the town suddenly came alive with stink bugs, Joe saw an opportunity. He got busy on his Facebook page, showing the invasion of the bugs--with pictures of the bugs on sidewalks, patios and porches. The calls came in. He gave short talks at meetings. More calls came in. Many of the calls turned into regular customers coping with fleas, ticks, mice, ants, spiders, and, yes, stink bugs. The stink bugs were a marketing gift.
Example: Margaret runs a local recycling operation. She specializes in taking all types of metals, including unwanted electronics. The metals market goes through ups and downs. When prices go up, lots of metal shows up at her yard. When prices go down, not so much arrives at her gate. When a storm came through her area, Margaret spotted another market. The storm left many downed trees. She put the word out that she would take the wood--no payment, just a convenient place for people to get rid of it. Soon her back lot was filled with a jumble of tree trunks and limbs. Again Margaret put the word out--this time to artisans, woodworkers, and businesses offering mulch, firewood, and more. She had suddenly expanded into another market segment--selling wood. Two or three seasonal storms keeps the back lot full.
Look around. Everything changes--technology, weather, and markets themselves. Be alert to opportunities for expansion of your business.
Additional examples are scattered throughout these write-ups. Business expansions can be easy if you build on what you're already doing. Just be careful that you don't head off in another direction that takes you away from what you're already doing. You're adding to, not replacing. Replacing is another topic.
examples showing real business situations.
Sometimes you can expand your business just by spotting a marketing gift. Alert owners can take advantage of the unexpected situations that come up.
Example: Isabelle is a certified therapist specializing in helping clients through stress, PTSD, grief, and related issues. She noticed that many of her clients had gone through drug and alcohol addiction rehab programs, but large numbers of them were still fighting their old habits. Today, Isabelle has extended her practice to help rehab "graduates" cope with their on-going problems. They represent a well-defined market of people who need specific help. Isabelle is developing several programs specifically for post-rehab people. It's another area of therapy that is bringing in an increasing number of clients. She is building on what she already does.
Example: Joe runs a small independent pest control company. He has experienced difficulty "breaking out" ahead of the competition. When the town suddenly came alive with stink bugs, Joe saw an opportunity. He got busy on his Facebook page, showing the invasion of the bugs--with pictures of the bugs on sidewalks, patios and porches. The calls came in. He gave short talks at meetings. More calls came in. Many of the calls turned into regular customers coping with fleas, ticks, mice, ants, spiders, and, yes, stink bugs. The stink bugs were a marketing gift.
Example: Margaret runs a local recycling operation. She specializes in taking all types of metals, including unwanted electronics. The metals market goes through ups and downs. When prices go up, lots of metal shows up at her yard. When prices go down, not so much arrives at her gate. When a storm came through her area, Margaret spotted another market. The storm left many downed trees. She put the word out that she would take the wood--no payment, just a convenient place for people to get rid of it. Soon her back lot was filled with a jumble of tree trunks and limbs. Again Margaret put the word out--this time to artisans, woodworkers, and businesses offering mulch, firewood, and more. She had suddenly expanded into another market segment--selling wood. Two or three seasonal storms keeps the back lot full.
Look around. Everything changes--technology, weather, and markets themselves. Be alert to opportunities for expansion of your business.
Additional examples are scattered throughout these write-ups. Business expansions can be easy if you build on what you're already doing. Just be careful that you don't head off in another direction that takes you away from what you're already doing. You're adding to, not replacing. Replacing is another topic.
Thursday, October 23, 2014
Expanding yourself
Free daily tips, info, advice, ideas, with real
examples from real businesses.
Expanding your business is easier than you might think. But it takes thought and planning ahead. You can expand further into something you already do, or you can take off in a different direction.
Whatever you do, do it with your eyes firmly on the marketplace. Only if there's a market for your planned products/services can you hope to succeed.
Example: Jackie is a trained and certified nutritionist. She has been trying to establish her business, but attracting paying customers has proved difficult. She gives talks at health food stores, supermarkets and seniors groups. When she decided to begin concentrating on weight reduction, business picked up. She devised programs for adults and children. This attracted more attention in the marketplace--particularly on her Facebook page. Her solid background in nutrition gave her credibility in devising healthy eating habits. Her seminars filled up, and soon she rented space of her own. It didn't stop there. She partnered with a hypnotist and together they created more programs to help people lose weight.
Example: Lisette was running a traditional gift shop. Sales declined over time, and she decided to make a change. She began contacting artists and artisans, arranging to carry their works on a consignment arrangement. She began posting these on Facebook and other social media--hand-made jewelry, clothing accessories, stained glass pieces, unusual objects in wood and iron. Gradually, the word spread, attracting a higher-end clientele. Lisette's gift shop is now expanding.
Example: Bill runs a fancy cake bakery. His specialties have attracted attention from a wide area. Everybody seems to know and has marveled at Bill's creations. He has made cakes in the shape of party-goers' homes. Once he made a cake for a guitar player's birthday--the guy didn't know which instrument to play. Then there was a wedding cake--two heads kissing. Bill wanted to grow, and he took note of the marketplace interest in healthy eating. He expanded into a line of cakes containing no gluten, others had no sugar, and some had no eggs or other animal products. His reputation increased in the other market segments he had ignored.
Expanding your business--no matter what it is--can be as simple as looking for market trends. Do this by watching television or trolling the Internet. The trends developing in the marketplace are there.
Additional examples are scattered throughout these write-ups. Look for ideas you might use, or they can trigger your imagination. Markets are always changing. Keep up.
examples from real businesses.
Expanding your business is easier than you might think. But it takes thought and planning ahead. You can expand further into something you already do, or you can take off in a different direction.
Whatever you do, do it with your eyes firmly on the marketplace. Only if there's a market for your planned products/services can you hope to succeed.
Example: Jackie is a trained and certified nutritionist. She has been trying to establish her business, but attracting paying customers has proved difficult. She gives talks at health food stores, supermarkets and seniors groups. When she decided to begin concentrating on weight reduction, business picked up. She devised programs for adults and children. This attracted more attention in the marketplace--particularly on her Facebook page. Her solid background in nutrition gave her credibility in devising healthy eating habits. Her seminars filled up, and soon she rented space of her own. It didn't stop there. She partnered with a hypnotist and together they created more programs to help people lose weight.
Example: Lisette was running a traditional gift shop. Sales declined over time, and she decided to make a change. She began contacting artists and artisans, arranging to carry their works on a consignment arrangement. She began posting these on Facebook and other social media--hand-made jewelry, clothing accessories, stained glass pieces, unusual objects in wood and iron. Gradually, the word spread, attracting a higher-end clientele. Lisette's gift shop is now expanding.
Example: Bill runs a fancy cake bakery. His specialties have attracted attention from a wide area. Everybody seems to know and has marveled at Bill's creations. He has made cakes in the shape of party-goers' homes. Once he made a cake for a guitar player's birthday--the guy didn't know which instrument to play. Then there was a wedding cake--two heads kissing. Bill wanted to grow, and he took note of the marketplace interest in healthy eating. He expanded into a line of cakes containing no gluten, others had no sugar, and some had no eggs or other animal products. His reputation increased in the other market segments he had ignored.
Expanding your business--no matter what it is--can be as simple as looking for market trends. Do this by watching television or trolling the Internet. The trends developing in the marketplace are there.
Additional examples are scattered throughout these write-ups. Look for ideas you might use, or they can trigger your imagination. Markets are always changing. Keep up.
Wednesday, October 22, 2014
Disasters strike
Free daily tips, information, advice, ideas, with
examples drawn from real businesses.
Like ice cream, disasters come in many flavors--they might be served up in cups or cones. Your small business must be ready no matter what.
Big companies have deep pockets. They have relationships with big banks and can ride out disasters--including a bad economy. They can go to the short-term overnight loan market to even out cash shortfalls and disaster recoveries.
Small businesses do not have these resources. The only deep pockets are your own.
Example: Daryl faced ruin when heavy rains resulted in a flooded street. His pet store suffered extensive water damage. It didn't stop there. An electrical fire broke out and did more damage. Daryl had insurance, but it took almost three months to get the store fully operational again. Facing no sales and no income, Daryl struggled to pay on-going bills and get back in business. He contacted his regular customers and supplied standing orders for dog and cat food he had stored in his garage. He temporarily partnered with a local veterinarian to display some of his pet products. He involved his customers in the reconstruction by posting pictures on Facebook every day. When the pet store was finally ready, he held a grand re-opening, and his business thrived again.
Example: Eleanor runs a graphic arts firm. the business was going well when suddenly the landlord informed her that the building was to be completely renovated--she had 60 days to vacate the premises. The lease she had signed granted the landlord that option. It also stated that the landlord could buy out the remaining months of the lease--so Eleanor received a sizable amount of cash. This helped her find another place, move, and transition to new quarters. But the disruption in on-going work was significant. She turned the disaster into a positive by growing into a larger space, buying new equipment, and hiring an additional employee.
Example: Early in my first small business, I had a problem that taught me a valuable lesson. The husband of a key employee called one morning, saying his wife was in the hospital. Doctors were treating her for a ruptured appendix, and she would be absent for at least the next two weeks. I felt badly for her and assured the husband that if we could do anything, just let me know. Then I realized I had a predicament--she was the only one who knew how to run the new computer to produce some critical on-going work. It was a different kind of disaster. I learned that I must always cross-train employees so that someone could jump in to handle any job. It was a valuable lesson that I carried with me through several small businesses later on.
Disasters happen. Think through how you can react when the unthinkable happens. Your planning ahead can help you sleep at night.
More examples of businesses coping with disasters are scattered throughout these write-ups. Fire and flood, even key employees, can be covered with insurance. But the best insurance is your own planning ahead.
examples drawn from real businesses.
Like ice cream, disasters come in many flavors--they might be served up in cups or cones. Your small business must be ready no matter what.
Big companies have deep pockets. They have relationships with big banks and can ride out disasters--including a bad economy. They can go to the short-term overnight loan market to even out cash shortfalls and disaster recoveries.
Small businesses do not have these resources. The only deep pockets are your own.
Example: Daryl faced ruin when heavy rains resulted in a flooded street. His pet store suffered extensive water damage. It didn't stop there. An electrical fire broke out and did more damage. Daryl had insurance, but it took almost three months to get the store fully operational again. Facing no sales and no income, Daryl struggled to pay on-going bills and get back in business. He contacted his regular customers and supplied standing orders for dog and cat food he had stored in his garage. He temporarily partnered with a local veterinarian to display some of his pet products. He involved his customers in the reconstruction by posting pictures on Facebook every day. When the pet store was finally ready, he held a grand re-opening, and his business thrived again.
Example: Eleanor runs a graphic arts firm. the business was going well when suddenly the landlord informed her that the building was to be completely renovated--she had 60 days to vacate the premises. The lease she had signed granted the landlord that option. It also stated that the landlord could buy out the remaining months of the lease--so Eleanor received a sizable amount of cash. This helped her find another place, move, and transition to new quarters. But the disruption in on-going work was significant. She turned the disaster into a positive by growing into a larger space, buying new equipment, and hiring an additional employee.
Example: Early in my first small business, I had a problem that taught me a valuable lesson. The husband of a key employee called one morning, saying his wife was in the hospital. Doctors were treating her for a ruptured appendix, and she would be absent for at least the next two weeks. I felt badly for her and assured the husband that if we could do anything, just let me know. Then I realized I had a predicament--she was the only one who knew how to run the new computer to produce some critical on-going work. It was a different kind of disaster. I learned that I must always cross-train employees so that someone could jump in to handle any job. It was a valuable lesson that I carried with me through several small businesses later on.
Disasters happen. Think through how you can react when the unthinkable happens. Your planning ahead can help you sleep at night.
More examples of businesses coping with disasters are scattered throughout these write-ups. Fire and flood, even key employees, can be covered with insurance. But the best insurance is your own planning ahead.
Tuesday, October 21, 2014
Managing tips
Free daily tips, info, advice, and ideas, with
examples drawn from real businesses.
Managing a small business is an art, not a science. You can use inputs from science and a financial infusion, but the on-going balancing act is more akin to a high wire performance.
Artists who create, alternative health practitioners, technology businesses, and any other small business--all these owners must manage the operation.
Managing involves many pieces. You motivate yourself and your employees. You watch the bottom line. You prepare for emergencies. You stay on top of technology. You stay alert to market opportunities. And, most importantly, you listen to your customers/clients.
Example: Alex is an artist who paints in oils. His abstract paintings have attracted some attention, but sales are not enough to support him. To supplement his income, he does portraits, but opportunities are few and far between. At a gallery showing of his works, Alex overheard one of the attendees complain that there was nothing on display that was priced low enough to be considered as gifts to friends. It gave Alex an idea. He began to turn out a series of small paintings, quickly done, and reasonably priced. He frames them himself and sells them on his website, in high-end gift shops, and at special shows. Now he doesn't worry about continuing income while he concentrates on the larger, and expensive, abstracts.
An ear to the ground in the marketplace can help bridge the gap between success and failure. You gotta give 'em what they want--and can afford.
Example: Mary is an expert Reiki practitioner. She works from home, seeing clients at their place. Mary was approached by a wellness center to join the group. For a reasonable monthly payment, she would have her own room to see her clients. With her certifications, she could now teach others at her new place. Further, by being part of the wellness center, she could attract more clients. Mary jumped at the chance.
Joining with compatible business partners can solve problems for small-business owners. It's part of on-going managing to grow the business.
Example: Sue runs a small printing operation. She stays on top of the technology that has revolutionized the industry. Instead of listening to salespeople trying to get her to buy a bigger press, Sue opted for a newer, smaller, cheaper, technologically advanced press that could turn out short-run color work. It was a management decision that has propelled Sue's operation into a narrow, but profitable, market segment.
Managing a small business means you must stay on top of everything. You make all the decisions. And then you take out the trash and turn off the lights.
More examples of managing are scattered throughout these write-ups. Whatever your business, there is always light at the end of the tunnel.
examples drawn from real businesses.
Managing a small business is an art, not a science. You can use inputs from science and a financial infusion, but the on-going balancing act is more akin to a high wire performance.
Artists who create, alternative health practitioners, technology businesses, and any other small business--all these owners must manage the operation.
Managing involves many pieces. You motivate yourself and your employees. You watch the bottom line. You prepare for emergencies. You stay on top of technology. You stay alert to market opportunities. And, most importantly, you listen to your customers/clients.
Example: Alex is an artist who paints in oils. His abstract paintings have attracted some attention, but sales are not enough to support him. To supplement his income, he does portraits, but opportunities are few and far between. At a gallery showing of his works, Alex overheard one of the attendees complain that there was nothing on display that was priced low enough to be considered as gifts to friends. It gave Alex an idea. He began to turn out a series of small paintings, quickly done, and reasonably priced. He frames them himself and sells them on his website, in high-end gift shops, and at special shows. Now he doesn't worry about continuing income while he concentrates on the larger, and expensive, abstracts.
An ear to the ground in the marketplace can help bridge the gap between success and failure. You gotta give 'em what they want--and can afford.
Example: Mary is an expert Reiki practitioner. She works from home, seeing clients at their place. Mary was approached by a wellness center to join the group. For a reasonable monthly payment, she would have her own room to see her clients. With her certifications, she could now teach others at her new place. Further, by being part of the wellness center, she could attract more clients. Mary jumped at the chance.
Joining with compatible business partners can solve problems for small-business owners. It's part of on-going managing to grow the business.
Example: Sue runs a small printing operation. She stays on top of the technology that has revolutionized the industry. Instead of listening to salespeople trying to get her to buy a bigger press, Sue opted for a newer, smaller, cheaper, technologically advanced press that could turn out short-run color work. It was a management decision that has propelled Sue's operation into a narrow, but profitable, market segment.
Managing a small business means you must stay on top of everything. You make all the decisions. And then you take out the trash and turn off the lights.
More examples of managing are scattered throughout these write-ups. Whatever your business, there is always light at the end of the tunnel.
Monday, October 20, 2014
Expanding wellness
Free daily tips, info, advice, ideas, plus
examples from real businesses.
Therapists face special problems when it comes to the business end of their operation. Too many work alone. Individuals offer therapeutic massage, marriage counseling, reflexology, Reiki, yoga, meditation, and other therapies.
Instead of several people coming together to create a small business, therapists are frequently one person businesses. Clients can be few--it can be a thin market.
To combat this, therapists of diverse backgrounds frequently come together to create wellness centers. Some are today applying the department store/supermarket concept to alternative health. Come to one location and select from several possibilities.
Example: Joyce's specialty is reflexology. Over time she developed a client base passionate about her services. She traveled to them. To get her own office, Joyce partnered with Ella, who specialized in deep tissue massage. Together, they leased a large space--they were planning ahead. They then attracted a life counselor and a nutritionist to join them. Next, they added yoga--one expert who had a following of individuals. Soon, the business had grown to the point they needed a receptionist to schedule appointments. Recently, Joyce and Ella have talked with a practitioner of Jin Shin Jyutsu about joining the wellness group.
Heading toward establishing a wellness center is one way therapists can tackle their business problems. By bringing together several specialists, a wellness center can attract more attention--and clients--than one therapist acting alone. There is a spillover effect. Clients talk with one another about the center, and the word spreads on Facebook.
Example: Stan is a chiropractor. He, too, needed to attract more clients. He did not want to expand into a wellness center. Instead, he brings in other experts to offer counseling and information sessions at his place. He regularly schedules events open to the public. A nutritionist talks about healthy eating and fields questions from the attendees. At another session, a hypnotist helps people stop smoking. Later, an expert in Chinese herbal medicine talks about treating ailments without pills. These experts do not practice at Stan's place, but the popular sessions educate attendees--and, while there, they get up close and personal with the benefits of chiropractic. Stan is always on hand to talk about and explain chiropractic.
Therapists come in many flavors. If you are expert in one, your business might benefit from your partnering with other therapists to create a wellness center. Or, like the chiropractor, you might turn your place into a healthy living information and education center.
Whatever you do, keep your long term goal firmly in mind. Do the numbers to support a business plan. Only then can you confidently head out into new territory. That great unknown marketplace awaits.
examples from real businesses.
Therapists face special problems when it comes to the business end of their operation. Too many work alone. Individuals offer therapeutic massage, marriage counseling, reflexology, Reiki, yoga, meditation, and other therapies.
Instead of several people coming together to create a small business, therapists are frequently one person businesses. Clients can be few--it can be a thin market.
To combat this, therapists of diverse backgrounds frequently come together to create wellness centers. Some are today applying the department store/supermarket concept to alternative health. Come to one location and select from several possibilities.
Example: Joyce's specialty is reflexology. Over time she developed a client base passionate about her services. She traveled to them. To get her own office, Joyce partnered with Ella, who specialized in deep tissue massage. Together, they leased a large space--they were planning ahead. They then attracted a life counselor and a nutritionist to join them. Next, they added yoga--one expert who had a following of individuals. Soon, the business had grown to the point they needed a receptionist to schedule appointments. Recently, Joyce and Ella have talked with a practitioner of Jin Shin Jyutsu about joining the wellness group.
Heading toward establishing a wellness center is one way therapists can tackle their business problems. By bringing together several specialists, a wellness center can attract more attention--and clients--than one therapist acting alone. There is a spillover effect. Clients talk with one another about the center, and the word spreads on Facebook.
Example: Stan is a chiropractor. He, too, needed to attract more clients. He did not want to expand into a wellness center. Instead, he brings in other experts to offer counseling and information sessions at his place. He regularly schedules events open to the public. A nutritionist talks about healthy eating and fields questions from the attendees. At another session, a hypnotist helps people stop smoking. Later, an expert in Chinese herbal medicine talks about treating ailments without pills. These experts do not practice at Stan's place, but the popular sessions educate attendees--and, while there, they get up close and personal with the benefits of chiropractic. Stan is always on hand to talk about and explain chiropractic.
Therapists come in many flavors. If you are expert in one, your business might benefit from your partnering with other therapists to create a wellness center. Or, like the chiropractor, you might turn your place into a healthy living information and education center.
Whatever you do, keep your long term goal firmly in mind. Do the numbers to support a business plan. Only then can you confidently head out into new territory. That great unknown marketplace awaits.
Friday, October 17, 2014
Riding out holidays
Free tips, information, advice, ideas, with business examples
from personal experience--been there, done that in business.
Two thirds of Americans are cutting back on spending right now. It's the middle of October, and we're headed into the holiday shopping season. Business people are concerned.
Some experts believe that consumer spending in the coming holiday season will hold its own. These same experts say that the spending will come from savings, not from increases in income. More concern.
All this means that business owners must promote twice as hard--just to stay in the same place. If you want to grow, you must do even more.
Example: Carlos is a chef with his own restaurant. He is doing several things to promote his operation. He regularly posts mouth-watering entrees and desserts on his Facebook page. He puts the word out that he has partnered with local farms to offer fresh, farm-to-table meals. He has arranged to have his own app so that people can order ahead and the meal is ready when they arrive. He partners with non-profit groups to hold fundraisers for them. It's a rat race, but it is working--Carlos is seeing a steady rise in his restaurant's numbers.
Example: Fran is a certified acupuncturist. She sees more and more people looking for relief from stress, aches and pains, post-surgery concerns, and other ailments. To increase awareness, Fran brings in holistic practitioners for informational meetings, free demonstrations, question and answer sessions. This has led to more interest in acupuncture and a wider acceptance of its benefits. In addition, Fran is beginning to plan a wellness center offering several holistic treatments.
Example: Guy runs a fitness center. During the holiday season, people tend to have other things on their minds. To counteract this, Guy is bringing in experts in other fields to stoke interest and attendance. A hypnosis practitioner is set to hold sessions on weight reduction and stopping smoking. A nutritionist will be educating people on better eating habits.
Retail shops usually hold sales during and after the holidays. Shoppers have come to expect this, so consider doing more. Set up an open house, announce a special trunk sale, bring in a guitar player, set up seminars with experts on how to use the products/services you offer.
So the economy is not what it should be right now. There's always light at the end of the tunnel. We'll get through this, and we'll be stronger because of it.
People in small business are nothing if not creative. And hard-headed. And persistent. Remember to wave as you sail through the storm.
from personal experience--been there, done that in business.
Two thirds of Americans are cutting back on spending right now. It's the middle of October, and we're headed into the holiday shopping season. Business people are concerned.
Some experts believe that consumer spending in the coming holiday season will hold its own. These same experts say that the spending will come from savings, not from increases in income. More concern.
All this means that business owners must promote twice as hard--just to stay in the same place. If you want to grow, you must do even more.
Example: Carlos is a chef with his own restaurant. He is doing several things to promote his operation. He regularly posts mouth-watering entrees and desserts on his Facebook page. He puts the word out that he has partnered with local farms to offer fresh, farm-to-table meals. He has arranged to have his own app so that people can order ahead and the meal is ready when they arrive. He partners with non-profit groups to hold fundraisers for them. It's a rat race, but it is working--Carlos is seeing a steady rise in his restaurant's numbers.
Example: Fran is a certified acupuncturist. She sees more and more people looking for relief from stress, aches and pains, post-surgery concerns, and other ailments. To increase awareness, Fran brings in holistic practitioners for informational meetings, free demonstrations, question and answer sessions. This has led to more interest in acupuncture and a wider acceptance of its benefits. In addition, Fran is beginning to plan a wellness center offering several holistic treatments.
Example: Guy runs a fitness center. During the holiday season, people tend to have other things on their minds. To counteract this, Guy is bringing in experts in other fields to stoke interest and attendance. A hypnosis practitioner is set to hold sessions on weight reduction and stopping smoking. A nutritionist will be educating people on better eating habits.
Retail shops usually hold sales during and after the holidays. Shoppers have come to expect this, so consider doing more. Set up an open house, announce a special trunk sale, bring in a guitar player, set up seminars with experts on how to use the products/services you offer.
So the economy is not what it should be right now. There's always light at the end of the tunnel. We'll get through this, and we'll be stronger because of it.
People in small business are nothing if not creative. And hard-headed. And persistent. Remember to wave as you sail through the storm.
Thursday, October 16, 2014
Promote with pets
Free daily tips, info, advice, ideas, with business examples
from the trenches--been there, done that in business.
Pets always generate interest. Pictures of cuddly kittens and playful puppies can promote your business. You don't have to own a pet shop. Any business can use pictures of pets.
Example: Ted is a chiropractor. His website and posts on Facebook include his dog. The dog is big, active, friendly and lovable. Ted is always taking pictures showing the dog running, jumping, chasing a ball, carrying a stick, or curled up by a fireplace. Ted is getting across the message of an active, pain-free life style. The message is not about bones and muscles--that discussion is on the website for viewers who want to read more. The dog is the message that is upfront, captures attention, and draws the viewer inside.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter, eyeing all comers as he catches cat naps. Jan snaps pictures of him--sleeping or playful, or just wandering around the place. He is in every picture she takes of new things arriving in the shop. She posts the pictures on her Facebook page, generating continuing interest and referrals. Customers develop an attachment to the cat. They look for more pictures on Facebook, and that keeps the consignment shop on their minds.
Example: Tom runs a bar. He wanted to punch up interest, so he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one full wall and hired a sign painter to emblazon the words "Man's Best Friend" across the top. He put up a reproduction of a famous painting showing dogs playing cards, and then he invited everyone to pin pictures of their dogs on the wall. The word spread quickly, and soon dozens of pictures of dogs and puppies appeared. Tom takes pictures of the wall pictures and posts them on Facebook. The bar is now affectionately referred to as Tom's Dog House.
Example: Gerta runs a quilting operation. That's the focus, but she is really a fabric artist. She designs and makes exquisite quilts herself--for all bed sizes, including infants. At her working studio, she sells everything needed to make a quilt. But that's only the beginning. She convenes weekly working sessions--people come for an evening with like-minded quilters, leaving their works-in-progress until the next session. Other times, Gerta sets sessions for beginners, instructing them on design and construction. She promotes with a website and on Facebook, and everywhere in all the pictures Gerta's toy poodle captures the camera's attention. Her poodle is a sort of trademark.
Pets can be used in many ways to promote your business. Put your creativity to work in your promotions. Today's social media can offer many opportunities not possible in bygone days.
For more on social media, see other write-ups in this series. Promotional ideas are scattered throughout. Don't have a pet? Not to worry. Take pictures of other things and post them.
from the trenches--been there, done that in business.
Pets always generate interest. Pictures of cuddly kittens and playful puppies can promote your business. You don't have to own a pet shop. Any business can use pictures of pets.
Example: Ted is a chiropractor. His website and posts on Facebook include his dog. The dog is big, active, friendly and lovable. Ted is always taking pictures showing the dog running, jumping, chasing a ball, carrying a stick, or curled up by a fireplace. Ted is getting across the message of an active, pain-free life style. The message is not about bones and muscles--that discussion is on the website for viewers who want to read more. The dog is the message that is upfront, captures attention, and draws the viewer inside.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter, eyeing all comers as he catches cat naps. Jan snaps pictures of him--sleeping or playful, or just wandering around the place. He is in every picture she takes of new things arriving in the shop. She posts the pictures on her Facebook page, generating continuing interest and referrals. Customers develop an attachment to the cat. They look for more pictures on Facebook, and that keeps the consignment shop on their minds.
Example: Tom runs a bar. He wanted to punch up interest, so he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one full wall and hired a sign painter to emblazon the words "Man's Best Friend" across the top. He put up a reproduction of a famous painting showing dogs playing cards, and then he invited everyone to pin pictures of their dogs on the wall. The word spread quickly, and soon dozens of pictures of dogs and puppies appeared. Tom takes pictures of the wall pictures and posts them on Facebook. The bar is now affectionately referred to as Tom's Dog House.
Example: Gerta runs a quilting operation. That's the focus, but she is really a fabric artist. She designs and makes exquisite quilts herself--for all bed sizes, including infants. At her working studio, she sells everything needed to make a quilt. But that's only the beginning. She convenes weekly working sessions--people come for an evening with like-minded quilters, leaving their works-in-progress until the next session. Other times, Gerta sets sessions for beginners, instructing them on design and construction. She promotes with a website and on Facebook, and everywhere in all the pictures Gerta's toy poodle captures the camera's attention. Her poodle is a sort of trademark.
Pets can be used in many ways to promote your business. Put your creativity to work in your promotions. Today's social media can offer many opportunities not possible in bygone days.
For more on social media, see other write-ups in this series. Promotional ideas are scattered throughout. Don't have a pet? Not to worry. Take pictures of other things and post them.
Wednesday, October 15, 2014
Use social media
Free daily tips, info, advice, ideas, with business examples
from personal experience--been there, done that in business.
Google, Facebook, Amazon and Apple are the big four in social media. They dominate the customer information space. And they compete ferociously with each other.
The big four and others (LinkedIn, Instagram, etc.) have developed many opportunities for small business people. Get in there and ride the wave.
Example: You are a holistic therapist specializing in Reiki. You write two sentences on relief from stress and muscle pain and post with a picture showing hands hovering over an ailing body part. Put it up on Google+ and LinkedIn.
Example: You own a restaurant. Get an app so that your customers can check out your specials for the day, make a reservation and place their order while they are on the way to your place. Post pictures of mouth-watering entrees daily on your Facebook page.
Example: You are a graphic artist turned photographer. Get your portfolio together and publish it as an Amazon e-book. Make connections on LinkedIn, teasing with a picture, and point them to your Amazon e-book. If you're looking for a position, grab your Kindle and show your interviewer what you've accomplished using Amazon's technology.
Example: You own a consignment shop. To attract attention you post pictures of newly received items on Facebook. The word spreads to your regulars--and they pass on the pictures to their friends, enlarging your circle of customers. Consignment shops have become more popular in today's lagging economy. Reach out and show the world what you have to offer.
Don't know how to access and use social media? Go to their web pages. They'll guide you through the simple process. And for the most part, it's free.
Once you get the hang of it, you'll be snapping pictures all the time. Post a picture with a few words and you're done with your advertising for the day.
Social media is a godsend for small business. You can reach the world with the click of a button. Your elderly customers/clients might still want to get a postcard delivered by the post office. But the mailbox of the future is filled with pictures delivered by social media.
from personal experience--been there, done that in business.
Google, Facebook, Amazon and Apple are the big four in social media. They dominate the customer information space. And they compete ferociously with each other.
The big four and others (LinkedIn, Instagram, etc.) have developed many opportunities for small business people. Get in there and ride the wave.
Example: You are a holistic therapist specializing in Reiki. You write two sentences on relief from stress and muscle pain and post with a picture showing hands hovering over an ailing body part. Put it up on Google+ and LinkedIn.
Example: You own a restaurant. Get an app so that your customers can check out your specials for the day, make a reservation and place their order while they are on the way to your place. Post pictures of mouth-watering entrees daily on your Facebook page.
Example: You are a graphic artist turned photographer. Get your portfolio together and publish it as an Amazon e-book. Make connections on LinkedIn, teasing with a picture, and point them to your Amazon e-book. If you're looking for a position, grab your Kindle and show your interviewer what you've accomplished using Amazon's technology.
Example: You own a consignment shop. To attract attention you post pictures of newly received items on Facebook. The word spreads to your regulars--and they pass on the pictures to their friends, enlarging your circle of customers. Consignment shops have become more popular in today's lagging economy. Reach out and show the world what you have to offer.
Don't know how to access and use social media? Go to their web pages. They'll guide you through the simple process. And for the most part, it's free.
Once you get the hang of it, you'll be snapping pictures all the time. Post a picture with a few words and you're done with your advertising for the day.
Social media is a godsend for small business. You can reach the world with the click of a button. Your elderly customers/clients might still want to get a postcard delivered by the post office. But the mailbox of the future is filled with pictures delivered by social media.
Tuesday, October 14, 2014
Early starters
Free tips, information, advice, ideas, with business examples
from a lifetime of experience starting up and operating businesses.
A business frequently grows out of our early years. As a child or teenager, we show an interest in the activity that can later become a business.
Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something else. Out of the scraps from her grandmother's work, she made little outfits for her dolls. As a teenager, Jennifer's sewing became more ambitious. Encouraged by her mom, she made blouses and tops to wear herself. Fabric fascinated her. She turned old jeans into jackets and handbags. When she graduated from high school, Jennifer and her grandmother opened a small shop. It was filled with Jennifer's creations and they sold well. While Jennifer created new designs, her grandmother waited on customers and helped with the sewing. They reworked the shop's layout, installed a short runway and small stage, and today they hold regular fashion shows featuring Jennifer's designs.
Example: Jeb worked summers during high school for a small construction company. He learned how to install siding, gutters and downspouts, build steps, paint and pour concrete and more. Jeb saved his earnings. When he graduated high school, Jeb could have started his own renovation and repair business, but he had a bigger idea. He used his savings to make a down payment on a three-family building that needed work. He put the place in tip top shape, rented the apartments to three tenants, and looked around for another building.
Example: Dave and Jim were buddies as teenagers and both were into fitness. They spent hours in the local gym working out and playing sports. When they graduated, they talked with the owner of the local weight training center about how to open a gym. Their idea was not to compete with weight training but to have an up-scale fitness center--offering weight reduction programs, healthy living, with a smoothie bar with vitamins and supplements. To their surprise, the owner proposed that Dave and Jim take over the weight training center and turn it into what they had in mind. The owner offered to structure a loan to cover the payout over several years. Dave and Jim were suddenly in business and on their way.
These examples show how young people can take their interests to the next level. Keep in mind that anything can be turned into a business. It takes time, planning and lots of hard work.
It's not limited to young people. At any age, take your interests to the next level.
More examples of turning your passion into a business can be found in these write-ups. In addition to the hard work, it takes an attitude, confidence, and persistence.
from a lifetime of experience starting up and operating businesses.
A business frequently grows out of our early years. As a child or teenager, we show an interest in the activity that can later become a business.
Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something else. Out of the scraps from her grandmother's work, she made little outfits for her dolls. As a teenager, Jennifer's sewing became more ambitious. Encouraged by her mom, she made blouses and tops to wear herself. Fabric fascinated her. She turned old jeans into jackets and handbags. When she graduated from high school, Jennifer and her grandmother opened a small shop. It was filled with Jennifer's creations and they sold well. While Jennifer created new designs, her grandmother waited on customers and helped with the sewing. They reworked the shop's layout, installed a short runway and small stage, and today they hold regular fashion shows featuring Jennifer's designs.
Example: Jeb worked summers during high school for a small construction company. He learned how to install siding, gutters and downspouts, build steps, paint and pour concrete and more. Jeb saved his earnings. When he graduated high school, Jeb could have started his own renovation and repair business, but he had a bigger idea. He used his savings to make a down payment on a three-family building that needed work. He put the place in tip top shape, rented the apartments to three tenants, and looked around for another building.
Example: Dave and Jim were buddies as teenagers and both were into fitness. They spent hours in the local gym working out and playing sports. When they graduated, they talked with the owner of the local weight training center about how to open a gym. Their idea was not to compete with weight training but to have an up-scale fitness center--offering weight reduction programs, healthy living, with a smoothie bar with vitamins and supplements. To their surprise, the owner proposed that Dave and Jim take over the weight training center and turn it into what they had in mind. The owner offered to structure a loan to cover the payout over several years. Dave and Jim were suddenly in business and on their way.
These examples show how young people can take their interests to the next level. Keep in mind that anything can be turned into a business. It takes time, planning and lots of hard work.
It's not limited to young people. At any age, take your interests to the next level.
More examples of turning your passion into a business can be found in these write-ups. In addition to the hard work, it takes an attitude, confidence, and persistence.
Monday, October 13, 2014
Educating customers
Free daily tips, information, advice, ideas, with
business examples from my lifetime in business.
Your business can handle more sales than you have. You can sell more. You know that.
But did you know that some of your customers/clients don't know what you do? Some of them get accustomed to coming to you for one thing, but they ignore--or don't know about--all the other things you do.
In business, you must educate your customers/clients. You must tell them about all the things you can do for them. Otherwise, they tend to pigeon-hole you as expert at only one thing.
Example: Linda is a reflexology practitioner. Her clients are happy with results. They return and they refer others to Linda. She also offers clinical hypnosis counseling and childbirth education sessions. One of her reflexology clients (who was pregnant) asked Linda if she knew anyone who could help her with her weight gaining. The client didn't know that Linda could provide the advice she sought.
Example: You hired a web site designer and you were more than happy with the result. Now you need someone to set you up with social media. You call your web site designer and ask for a recommendation. He tells you that he can help you with social media. You suspected as much, but he had never mentioned it. He had not educated you in all the things he could do.
Example: Your regulars enjoy your restaurant's healthy meals, and they return again and again. But you haven't reminded them often enough that you also do catering. So, when they were planning that corporate event or a family reunion, they called a caterer who has contacted them. You've lost a sale.
Example: John handles taxes for several small businesses. He knows that few people in small business give much thought to selling the business or practice. He announces a seminar and invites all of his clients. There he will discuss how to get the business ready to sell, what a buyer might expect, how to negotiate, what value to place on the business, etc. At the meeting, he answers all their questions. During the following month, he gets several calls from business owners wanting a private meeting with John to further pursue the matter. He has expanded his business by educating his present clients.
Every time you interact with your customers and clients, try to remind them of the whole range of things you can do for them. Otherwise, they will tend to think of you in a narrow way.
The examples in these write-ups are good ways to communicate information and ideas for you to use in your business. Even if it's a different type of business, the example can get your creative juices flowing and give you fresh ideas. Never give up!
business examples from my lifetime in business.
Your business can handle more sales than you have. You can sell more. You know that.
But did you know that some of your customers/clients don't know what you do? Some of them get accustomed to coming to you for one thing, but they ignore--or don't know about--all the other things you do.
In business, you must educate your customers/clients. You must tell them about all the things you can do for them. Otherwise, they tend to pigeon-hole you as expert at only one thing.
Example: Linda is a reflexology practitioner. Her clients are happy with results. They return and they refer others to Linda. She also offers clinical hypnosis counseling and childbirth education sessions. One of her reflexology clients (who was pregnant) asked Linda if she knew anyone who could help her with her weight gaining. The client didn't know that Linda could provide the advice she sought.
Example: You hired a web site designer and you were more than happy with the result. Now you need someone to set you up with social media. You call your web site designer and ask for a recommendation. He tells you that he can help you with social media. You suspected as much, but he had never mentioned it. He had not educated you in all the things he could do.
Example: Your regulars enjoy your restaurant's healthy meals, and they return again and again. But you haven't reminded them often enough that you also do catering. So, when they were planning that corporate event or a family reunion, they called a caterer who has contacted them. You've lost a sale.
Example: John handles taxes for several small businesses. He knows that few people in small business give much thought to selling the business or practice. He announces a seminar and invites all of his clients. There he will discuss how to get the business ready to sell, what a buyer might expect, how to negotiate, what value to place on the business, etc. At the meeting, he answers all their questions. During the following month, he gets several calls from business owners wanting a private meeting with John to further pursue the matter. He has expanded his business by educating his present clients.
Every time you interact with your customers and clients, try to remind them of the whole range of things you can do for them. Otherwise, they will tend to think of you in a narrow way.
The examples in these write-ups are good ways to communicate information and ideas for you to use in your business. Even if it's a different type of business, the example can get your creative juices flowing and give you fresh ideas. Never give up!
Friday, October 10, 2014
Referrals more
Free daily tips, info, advice, ideas, with business examples from
personal experience starting up, operating, and growing businesses.
Referrals are as natural as sliced bread. Mary tells Sue where she gets her hair cut, and Sue tries out the salon. Bill tells John where he bought his new miter saw, and John checks out the inventory at the place.
Referrals bring you the best new clients and customers. They come to you on someone else's reputation or advice.
Example: Alyce is a massage therapist. She posts pictures on her Facebook page showing hands hard at work on the back of someone's neck. The pictures not only get "liked" on Facebook, they get passed around. This has the effect of referring other people to Alyce. It worked so well, Alyce decided to post the pictures on other social media. Today, Alyce's appointment bookings extend far into the future.
Social media works very well in introducing your business to a widening circle. Pictures are powerful communicators.
People naturally talk about their experiences with others. As a business person, you want to keep this process positive and continuing.
Example: A tried and true older method is one I learned from my insurance agent. Every three months he would call me and ask for referrals. I began using the same method--calling satisfied customers, asking if I could do anything for them, and then ask for referrals. Most of the time, my customers would gladly furnish names and phone numbers. Then I would call these people, engage them in a conversation about the person who referred me to them, and ask them for an appointment to further explain my services. It did not work every time, but it worked often enough that I grew the business without spending a ton of money on advertising.
Every business needs to extend its reach, expand its circle of customers. Getting the referral process moving and keeping people talking about you and your business is vital in business.
It's like a stool with three legs--your business, your customer, and the referred person. You want to put that third leg on many stools.
Social media today can give you lots of opportunities to promote the referral process. Facebook posts are one way. Think about the possibilities using Twitter, LinkedIn, Instagram, Pinterest, and more.
More information and tips on increasing referrals can be found scattered throughout these write-ups. Build your business on these third party referrals.
personal experience starting up, operating, and growing businesses.
Referrals are as natural as sliced bread. Mary tells Sue where she gets her hair cut, and Sue tries out the salon. Bill tells John where he bought his new miter saw, and John checks out the inventory at the place.
Referrals bring you the best new clients and customers. They come to you on someone else's reputation or advice.
Example: Alyce is a massage therapist. She posts pictures on her Facebook page showing hands hard at work on the back of someone's neck. The pictures not only get "liked" on Facebook, they get passed around. This has the effect of referring other people to Alyce. It worked so well, Alyce decided to post the pictures on other social media. Today, Alyce's appointment bookings extend far into the future.
Social media works very well in introducing your business to a widening circle. Pictures are powerful communicators.
People naturally talk about their experiences with others. As a business person, you want to keep this process positive and continuing.
Example: A tried and true older method is one I learned from my insurance agent. Every three months he would call me and ask for referrals. I began using the same method--calling satisfied customers, asking if I could do anything for them, and then ask for referrals. Most of the time, my customers would gladly furnish names and phone numbers. Then I would call these people, engage them in a conversation about the person who referred me to them, and ask them for an appointment to further explain my services. It did not work every time, but it worked often enough that I grew the business without spending a ton of money on advertising.
Every business needs to extend its reach, expand its circle of customers. Getting the referral process moving and keeping people talking about you and your business is vital in business.
It's like a stool with three legs--your business, your customer, and the referred person. You want to put that third leg on many stools.
Social media today can give you lots of opportunities to promote the referral process. Facebook posts are one way. Think about the possibilities using Twitter, LinkedIn, Instagram, Pinterest, and more.
More information and tips on increasing referrals can be found scattered throughout these write-ups. Build your business on these third party referrals.
Thursday, October 9, 2014
Expanding your business
Free daily tips, information, advice, ideas, with business examples
from my lifetime experiences starting up, operating, and growing businesses of my own.
Expanding your business takes time, planning and moving forward one step at a time. I'm not talking growing--growing means getting bigger and bigger. Expanding means taking on a related market.
Example: Jilletta is a chiropractor. She decided some time ago that she wanted to head in the direction of becoming a wellness center. She didn't know how many wellness experts she would be able to attract, and she didn't know how much space would be needed. So she spent several months talking with holistic providers, looking at buildings, investigating the market, and doing the numbers--projecting forward several scenarios and arriving at a business plan that made sense. Today, Jilletta's wellness center attracts clients looking for all sorts of treatments, including Reiki, massage, acupuncture, yoga sessions for individuals, nutritional guidance, aromatherapy, and other popular wellness interests. She provides space for the experts to meet and treat their clients--transients can simply pay her a fee, or longer term rentals can be made. There is a small room for information displays, including video. The center has attracted lots of attention in the community and beyond. Jilletta still sees her chiropractic patients here.
Rushing into a business expansion is not a good idea. The business-like way to approach an expansion is to research the market, carefully plan out steps, and then take the plunge.
Example: Bill runs a landscaping service. He cuts grass, trims shrubbery, helps homeowners put plants in their yards. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. Inside, he turned part of a bedroom into a small office setup. To grow, his wife reminded him, he needed to get the business out of the house, out of the garage, and out of the yard. To expand, Bill looked around. He found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the place to Bill. After carefully projecting the numbers, Bill jumped at the chance. The elderly man was looking for an income for his declining years, so they agreed to a payout that Bill could afford over the next 15 years. If Bill defaulted, the elderly man could repossess the place and sell it again. Today, Bill has expanded his landscaping services into a full-blown garden center attracting many more customers. With the expanded business, he has never missed a payment. To keep an eye on things, the elderly man still putters around the place, helping Bill with the operation and providing invaluable advice.
When you want to expand your business, get creative. The possibilities are out there. It's up to you to home in on what works for you.
Other examples of expansion possibilities are scattered throughout these write-ups. I have used various methods to expand, and I have worked with others on their expansion plans. The important thing is to know what you're getting into--check out the market for what you're expanding into, and project some solid numbers with a business plan.
from my lifetime experiences starting up, operating, and growing businesses of my own.
Expanding your business takes time, planning and moving forward one step at a time. I'm not talking growing--growing means getting bigger and bigger. Expanding means taking on a related market.
Example: Jilletta is a chiropractor. She decided some time ago that she wanted to head in the direction of becoming a wellness center. She didn't know how many wellness experts she would be able to attract, and she didn't know how much space would be needed. So she spent several months talking with holistic providers, looking at buildings, investigating the market, and doing the numbers--projecting forward several scenarios and arriving at a business plan that made sense. Today, Jilletta's wellness center attracts clients looking for all sorts of treatments, including Reiki, massage, acupuncture, yoga sessions for individuals, nutritional guidance, aromatherapy, and other popular wellness interests. She provides space for the experts to meet and treat their clients--transients can simply pay her a fee, or longer term rentals can be made. There is a small room for information displays, including video. The center has attracted lots of attention in the community and beyond. Jilletta still sees her chiropractic patients here.
Rushing into a business expansion is not a good idea. The business-like way to approach an expansion is to research the market, carefully plan out steps, and then take the plunge.
Example: Bill runs a landscaping service. He cuts grass, trims shrubbery, helps homeowners put plants in their yards. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. Inside, he turned part of a bedroom into a small office setup. To grow, his wife reminded him, he needed to get the business out of the house, out of the garage, and out of the yard. To expand, Bill looked around. He found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the place to Bill. After carefully projecting the numbers, Bill jumped at the chance. The elderly man was looking for an income for his declining years, so they agreed to a payout that Bill could afford over the next 15 years. If Bill defaulted, the elderly man could repossess the place and sell it again. Today, Bill has expanded his landscaping services into a full-blown garden center attracting many more customers. With the expanded business, he has never missed a payment. To keep an eye on things, the elderly man still putters around the place, helping Bill with the operation and providing invaluable advice.
When you want to expand your business, get creative. The possibilities are out there. It's up to you to home in on what works for you.
Other examples of expansion possibilities are scattered throughout these write-ups. I have used various methods to expand, and I have worked with others on their expansion plans. The important thing is to know what you're getting into--check out the market for what you're expanding into, and project some solid numbers with a business plan.
Wednesday, October 8, 2014
Facebook alive
Free daily tips, info, advice, ideas, with business examples
from my lifetime of experiences in business--been there, done that.
Facebook is a fantastic promotional tool for small business. It's almost effortless from the standpoint of your time. And it's free.
Example: Leonetta is a therapist specializing in Reiki. Her client base for people is growing with referrals. She decides to expand her operation by offering Reiki for pets. Pictures of pets always attract attention. She snaps pictures of dogs, puppies and other animals and posts them on her Facebook page. These pictures are exchanged among groups of friends--and calls come in. To speed up appointments, Leonetta posts new pictures daily. To slow it down, she posts only once each week.
Example: Robert's garden center uses Facebook. He posts close-up pictures of blooming plants to attract attention. If he can capture a butterfly, so much the better. These pictures of chrysanthemums and asters bring people to the garden center. For autumn interest, he posts pictures of corn stalks and pumpkins. In spring, it's daffodils and tulips. He avoids people's faces in the pictures he takes, but frequently shows a working hand.
Example: Sara runs a gift shop. She photographs every new item--giving her a record of her inventory. Many items in her shop are from artists and artisans who produce one-of-a-kind pieces--jewelry, ceramics, photographs, paintings, and the like. She selects from the photographs those that she knows will attract attention and posts them on Facebook. It stirs interest and brings people to her shop.
Example: Franklin is an attorney. He regularly volunteers to speak at public events--club meetings, senior centers, organizational gatherings, etc. He gets an agreement to take and use pictures of the meeting on Facebook. The pictures go on Facebook, looking like a news items in the local paper. People see themselves on Facebook, pass the pictures around, and calls come in to the attorney's office for appointments.
Facebook can work in any business. Snap pictures and post them. If you snap pictures of people's faces, get an okay to use them.
Don't know how to use Facebook? Go on the website and let them lead you through the simple process. If you're still confused, ask any teenager for help.
from my lifetime of experiences in business--been there, done that.
Facebook is a fantastic promotional tool for small business. It's almost effortless from the standpoint of your time. And it's free.
Example: Leonetta is a therapist specializing in Reiki. Her client base for people is growing with referrals. She decides to expand her operation by offering Reiki for pets. Pictures of pets always attract attention. She snaps pictures of dogs, puppies and other animals and posts them on her Facebook page. These pictures are exchanged among groups of friends--and calls come in. To speed up appointments, Leonetta posts new pictures daily. To slow it down, she posts only once each week.
Example: Robert's garden center uses Facebook. He posts close-up pictures of blooming plants to attract attention. If he can capture a butterfly, so much the better. These pictures of chrysanthemums and asters bring people to the garden center. For autumn interest, he posts pictures of corn stalks and pumpkins. In spring, it's daffodils and tulips. He avoids people's faces in the pictures he takes, but frequently shows a working hand.
Example: Sara runs a gift shop. She photographs every new item--giving her a record of her inventory. Many items in her shop are from artists and artisans who produce one-of-a-kind pieces--jewelry, ceramics, photographs, paintings, and the like. She selects from the photographs those that she knows will attract attention and posts them on Facebook. It stirs interest and brings people to her shop.
Example: Franklin is an attorney. He regularly volunteers to speak at public events--club meetings, senior centers, organizational gatherings, etc. He gets an agreement to take and use pictures of the meeting on Facebook. The pictures go on Facebook, looking like a news items in the local paper. People see themselves on Facebook, pass the pictures around, and calls come in to the attorney's office for appointments.
Facebook can work in any business. Snap pictures and post them. If you snap pictures of people's faces, get an okay to use them.
Don't know how to use Facebook? Go on the website and let them lead you through the simple process. If you're still confused, ask any teenager for help.
Tuesday, October 7, 2014
Arranging for space
Free daily tips, information, advice, ideas, with business examples
from my lifetime of personal experiences starting, operating, growing businesses.
Expanding? Need space for that new business? Moving it out of the house?
You have three choices--lease the space you need, share a space with another business, or you can buy a building.
Example: Rita was excited. She was about to realize her dream of establishing her own retail shop. She found the perfect storefront in an upscale small town. The landlord asked a reasonable price, but he wanted a one-year lease. This raised a red flag in Rita's mind. On the one hand, if her store didn't do well, she would be out of the lease in 12 months. On the other hand, if all went well, she would be in a bad position to negotiate a continuing lease. The landlord could insist on doubling the rent, knowing she would not want to move. Or perhaps he had other plans for the building and was simply looking for rental income for one year. Rita held her ground--she told him she wanted a 5-year lease or she would look elsewhere. Her persistence paid off. The landlord counter-offered and they settled on a 3-year lease at a slightly higher rent.
Example: John is a furniture designer. He could not afford a storefront on his own, so he went looking for a another type of space. He found a gift shop that catered to buyers of works produced by up-and-coming artists and artisans. He made arrangements to display his chairs and tables on a consignment basis. Also, he uses Facebook and Etsy to reach out to buyers.
Example: Diane is a personal trainer. She sees clients in their homes, and she sees employees in company fitness centers. She is building up a following with an eye to the day when she can open her own facility. Her plans don't stop there. She would like to expand eventually into a full wellness center, offering space to nutritionists, Reiki practitioners, massage specialists, and other holistic experts. With her goal firmly in place, her business plan writes itself.
Example: Elise is a ceramicist. She used a part of her inheritance to buy a small building. There, she established her working studio and display shop. She is supplementing her income by teaching small classes along with individual instruction. She is set up so that the business pays her back with a monthly rental income, thereby recouping over time the money she spent buying the building.
Finding the space you need for your business can be daunting. Opportunities can vary.
Explore all the possibilities and work each one through your overall business plan. Make certain that the arrangement you make matches your long term goal.
Elsewhere in these write-ups, you'll find other entries on finding and leasing space. It's just another part of managing your business. Many will tell you that in today's computerized world, you don't need a space. Well, you must do your work somewhere, even if it's done at home.
from my lifetime of personal experiences starting, operating, growing businesses.
Expanding? Need space for that new business? Moving it out of the house?
You have three choices--lease the space you need, share a space with another business, or you can buy a building.
Example: Rita was excited. She was about to realize her dream of establishing her own retail shop. She found the perfect storefront in an upscale small town. The landlord asked a reasonable price, but he wanted a one-year lease. This raised a red flag in Rita's mind. On the one hand, if her store didn't do well, she would be out of the lease in 12 months. On the other hand, if all went well, she would be in a bad position to negotiate a continuing lease. The landlord could insist on doubling the rent, knowing she would not want to move. Or perhaps he had other plans for the building and was simply looking for rental income for one year. Rita held her ground--she told him she wanted a 5-year lease or she would look elsewhere. Her persistence paid off. The landlord counter-offered and they settled on a 3-year lease at a slightly higher rent.
Example: John is a furniture designer. He could not afford a storefront on his own, so he went looking for a another type of space. He found a gift shop that catered to buyers of works produced by up-and-coming artists and artisans. He made arrangements to display his chairs and tables on a consignment basis. Also, he uses Facebook and Etsy to reach out to buyers.
Example: Diane is a personal trainer. She sees clients in their homes, and she sees employees in company fitness centers. She is building up a following with an eye to the day when she can open her own facility. Her plans don't stop there. She would like to expand eventually into a full wellness center, offering space to nutritionists, Reiki practitioners, massage specialists, and other holistic experts. With her goal firmly in place, her business plan writes itself.
Example: Elise is a ceramicist. She used a part of her inheritance to buy a small building. There, she established her working studio and display shop. She is supplementing her income by teaching small classes along with individual instruction. She is set up so that the business pays her back with a monthly rental income, thereby recouping over time the money she spent buying the building.
Finding the space you need for your business can be daunting. Opportunities can vary.
Explore all the possibilities and work each one through your overall business plan. Make certain that the arrangement you make matches your long term goal.
Elsewhere in these write-ups, you'll find other entries on finding and leasing space. It's just another part of managing your business. Many will tell you that in today's computerized world, you don't need a space. Well, you must do your work somewhere, even if it's done at home.
Monday, October 6, 2014
Partnering with others
Free daily tips, info, advice, ideas, with business examples
from a lifetime of personal experiences---been there, done that.
Small businesses can extend the reach out into the community by partnering with other businesses. It can be as simple as joining together to hold an open house.
Example: A chiropractor partners with a nutritional expert. They announce an open house. Emails go out, phone calls are made, a news release is sent, and the event is posted on Facebook. The big day arrives and people hungry for information show up. The chiropractor and the nutritionist talk about what they do and answer questions. The session results in additional clients for each of them.
Example: A potter partners with a florist and they put together a workshop. Attendees can learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop attracts many more people than either could do alone. Several new customers result, and the subsequent Facebook pictures attract even more attention.
Example: A small independent book store partners with an ice cream shop. Book signings and readings (adults and children) are held while attendees enjoy a free scoop. The sessions bring new people to each operation--particularly when pictures later show up on Facebook.
Example: A computer expert partners with a local cafe. Everyone has questions about computer problems, and everyone has to eat.
Events create excitement in the community. The word goes around on Facebook and other social media. When two businesses get together to hold an event, more people are introduced to each of them.
Success depends on getting the word out ahead of time.
More partnership possibilities are to be found in other write-ups in this series. If you know of others, send me an email. Put BLOG in the subject line so I don't delete. Send to AlWarr16@gmail.com. No names, please.
from a lifetime of personal experiences---been there, done that.
Small businesses can extend the reach out into the community by partnering with other businesses. It can be as simple as joining together to hold an open house.
Example: A chiropractor partners with a nutritional expert. They announce an open house. Emails go out, phone calls are made, a news release is sent, and the event is posted on Facebook. The big day arrives and people hungry for information show up. The chiropractor and the nutritionist talk about what they do and answer questions. The session results in additional clients for each of them.
Example: A potter partners with a florist and they put together a workshop. Attendees can learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop attracts many more people than either could do alone. Several new customers result, and the subsequent Facebook pictures attract even more attention.
Example: A small independent book store partners with an ice cream shop. Book signings and readings (adults and children) are held while attendees enjoy a free scoop. The sessions bring new people to each operation--particularly when pictures later show up on Facebook.
Example: A computer expert partners with a local cafe. Everyone has questions about computer problems, and everyone has to eat.
Events create excitement in the community. The word goes around on Facebook and other social media. When two businesses get together to hold an event, more people are introduced to each of them.
Success depends on getting the word out ahead of time.
More partnership possibilities are to be found in other write-ups in this series. If you know of others, send me an email. Put BLOG in the subject line so I don't delete. Send to AlWarr16@gmail.com. No names, please.
Friday, October 3, 2014
Engaging customers
Free daily tips, info, advice, ideas, with business examples
drawn from personal experiences starting, operating, and growing.
Customers who come to your retail place of business can be a gold mine. But only if you show them that yours is the best place to spend their time and money.
Today, customers can buy by pressing the "Place Order" key. They can do it on the run. Coming to visit your bricks-and-mortar shop can be an inconvenience--so it's up to you to make it worth their while. And bring them back again.
Being offered tea and biscotti is the least customers expect these days. They want information. They want to be entertained. They want answers. It's all about them.
Being totally focused on making the sale in front of you is risky. You lose the opportunity to learn what else the customer is interested in. And you might be risking losing the customer entirely, along with all their "likes" on Facebook.
Taking an interest in your customer helps establish and enhance the relationship. Dig deeper in conversations, expanding beyond the subject at hand. It will pay off in the future.
Example: A hand painted silk scarf catches the eye of a browsing customer in your shop. She asks about it, and you describe the artist who does the painting. You show how the colors can be arranged in puffs and folds so that the scarf is very versatile--it can enhance any number of different outfits. The customers buys not only the scarf, but she orders two suits as well.
This example, simple and certainly not original, can be used in other businesses.
Example: A customer likes a recliner at a furniture store. It's common to engage the customer in a conversation about a matching sofa. But a conversation that leads into room layouts and design can open new possibilities. Put computer layouts to work. It elevates the relationship to a new level, and that can bring an otherwise one-time shopper back and back again.
Expanding the conversation can work in service types of businesses as well as retail.
Example: An accountant sees clients only at tax time. Take it to the next level. Invite several of them to attend a special session where you'll educate them on the latest tax rules and regs. You'll answer all their questions, serve coffee, and demonstrate new software for handling accounts. You become the go-to place for expert information, and your clients refer others to you.
Turn customer contacts into fun experiences, educational sessions, and a go-to place for information. The idea is to position your operation at the forefront of your customer's mind. Engage your customers and they will come back again and again, bringing others with them.
Other ways to enhance and grow your customer base are scattered throughout these write-ups. Put your creativity to work and come up with additional ways to engage the customer.
drawn from personal experiences starting, operating, and growing.
Customers who come to your retail place of business can be a gold mine. But only if you show them that yours is the best place to spend their time and money.
Today, customers can buy by pressing the "Place Order" key. They can do it on the run. Coming to visit your bricks-and-mortar shop can be an inconvenience--so it's up to you to make it worth their while. And bring them back again.
Being offered tea and biscotti is the least customers expect these days. They want information. They want to be entertained. They want answers. It's all about them.
Being totally focused on making the sale in front of you is risky. You lose the opportunity to learn what else the customer is interested in. And you might be risking losing the customer entirely, along with all their "likes" on Facebook.
Taking an interest in your customer helps establish and enhance the relationship. Dig deeper in conversations, expanding beyond the subject at hand. It will pay off in the future.
Example: A hand painted silk scarf catches the eye of a browsing customer in your shop. She asks about it, and you describe the artist who does the painting. You show how the colors can be arranged in puffs and folds so that the scarf is very versatile--it can enhance any number of different outfits. The customers buys not only the scarf, but she orders two suits as well.
This example, simple and certainly not original, can be used in other businesses.
Example: A customer likes a recliner at a furniture store. It's common to engage the customer in a conversation about a matching sofa. But a conversation that leads into room layouts and design can open new possibilities. Put computer layouts to work. It elevates the relationship to a new level, and that can bring an otherwise one-time shopper back and back again.
Expanding the conversation can work in service types of businesses as well as retail.
Example: An accountant sees clients only at tax time. Take it to the next level. Invite several of them to attend a special session where you'll educate them on the latest tax rules and regs. You'll answer all their questions, serve coffee, and demonstrate new software for handling accounts. You become the go-to place for expert information, and your clients refer others to you.
Turn customer contacts into fun experiences, educational sessions, and a go-to place for information. The idea is to position your operation at the forefront of your customer's mind. Engage your customers and they will come back again and again, bringing others with them.
Other ways to enhance and grow your customer base are scattered throughout these write-ups. Put your creativity to work and come up with additional ways to engage the customer.
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