Free daily tips, information, advice, and ideas
to help you better manage your small business.
Taking a vacation was always difficult for me. Over the years in several businesses, I set them up so that they could run without me. But something else was afoot.
I grew up on a dairy farm. It was 24/7/365. No holidays, no vacation. All those cows had to be milked twice every day.
This early life instilled in me a formidable work ethic. Today, at 78, if I'm not doing something, I feel I'm wasting time. It's the same with most people who operate businesses.
In running my own businesses, I never hesitated taking an afternoon off or disappearing for a long weekend. I didn't call in, but I worried. My employees could always reach me by phone if they ran into a problem they could not handle. They rarely called.
Example: Mike started a small business running a computer repair shop. Gradually, he expanded and offered additional services. He would go to the offices of his clients, install new computers and software, network the setup and train employees. Soon, Mike had three employees and a service van on the road. Then he broke his leg. He was laid up for the better part of a month, running his business from his bed. Constantly on the phone, he directed his employees at every turn. Tired and exasperated, he shouted at an employee one day to handle the problem. It was an eye-opener for Mike. Not only did the employee handle the problem, but he did not call Mike again until the next day. Mike learned a valuable lesson--depend on your employees. They can handle most problems themselves if you will stay out of the way.
Many of you have employees, or you will as you grow. Train them how to handle problems and how to handle customers. Then step back and let them make their own decisions. To get the best out of employees, you must put them on their own. Help them grow.
This doesn't mean that employees run the business. That's your job.
Even if you manage a unit of a larger company, the same applies. Train your people, including someone to do your job. When you get that promotion, someone is ready to take over your position. Company management will be confident that your leaving won't disrupt operations.
Don't wait until you break your leg to take some time off. You need time away from your daily grind to clear your head, let your thoughts roam, and think through some fresh ideas. See how your business operates without your being there all the time.
Taking time off lets you see how well things are handled in your absence. This can give you clues to additional training your employees might need.
Friday, January 30, 2015
Thursday, January 29, 2015
Types of bonuses
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to help you better manage your small business.
Giving out bonuses to employees is a tried and true way to reward superior performance. Bonuses motivate employees. The return to the company is greater than the bonus given.
But in small businesses, there are ways to jiggle the process to improve the effect.
Example: A company with about 30 employees regularly handed out bonuses at the end of each year. A pot of money was set aside, then divided among employees whose performance had been exemplary during the year. The owner decided to try another method--shortening the period. Using the same amount of money, he divided it into four pots. At the end of each quarter, he handed out bonuses to employees showing performance most valuable to the company. By giving out bonuses four times each year instead of once, the effects were better. It put the reward closer to the performance deserving the bonus. Employees got motivated four times each year instead of once.
Example: Still looking at the situation, the same owner decided to try another variation. Using the same pot of bonus money, he divided it up into $100 bonuses. Whenever an employee showed exemplary performance or made a significant suggestion to improve the operations, the owner called everyone together and presented the $100 bonus. This variation caused considerable increase in enthusiasm among employees. It kept the bonus very close to the performance that earned it. At the end of the year, the owner still gave out small bonuses--gift cards in small amounts. Although this experimenting took place over several years, the owner arrived at a bonus system that worked well.
If you give out bonuses to employees in your company, you might want to get creative in structuring the way you do it. What works in one place might--or might not--work in the next.
With bonuses, you are motivating employees to greater interest, motivation, and performance. And you are spurring your employees to focus their attention on a better future for the company.
Your business does not work very well under a cloud of uncertainty. When federal and state regulations come fast and furious, business tends to hunker down. The same is true of employees. So, don't make frequent changes in a bonus system. Employees like certainty, too.
to help you better manage your small business.
Giving out bonuses to employees is a tried and true way to reward superior performance. Bonuses motivate employees. The return to the company is greater than the bonus given.
But in small businesses, there are ways to jiggle the process to improve the effect.
Example: A company with about 30 employees regularly handed out bonuses at the end of each year. A pot of money was set aside, then divided among employees whose performance had been exemplary during the year. The owner decided to try another method--shortening the period. Using the same amount of money, he divided it into four pots. At the end of each quarter, he handed out bonuses to employees showing performance most valuable to the company. By giving out bonuses four times each year instead of once, the effects were better. It put the reward closer to the performance deserving the bonus. Employees got motivated four times each year instead of once.
Example: Still looking at the situation, the same owner decided to try another variation. Using the same pot of bonus money, he divided it up into $100 bonuses. Whenever an employee showed exemplary performance or made a significant suggestion to improve the operations, the owner called everyone together and presented the $100 bonus. This variation caused considerable increase in enthusiasm among employees. It kept the bonus very close to the performance that earned it. At the end of the year, the owner still gave out small bonuses--gift cards in small amounts. Although this experimenting took place over several years, the owner arrived at a bonus system that worked well.
If you give out bonuses to employees in your company, you might want to get creative in structuring the way you do it. What works in one place might--or might not--work in the next.
With bonuses, you are motivating employees to greater interest, motivation, and performance. And you are spurring your employees to focus their attention on a better future for the company.
Your business does not work very well under a cloud of uncertainty. When federal and state regulations come fast and furious, business tends to hunker down. The same is true of employees. So, don't make frequent changes in a bonus system. Employees like certainty, too.
Wednesday, January 28, 2015
Inspire your employees
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to help you better manage your small business.
Every business, large and small, needs to optimize the performance of employees. No whips and chains. Just positive stuff.
People appreciate being appreciated. Deep down, all of us crave acceptance. And recognition. That's why a simple "Thank you" goes a long way in creating renewed enthusiasm and enhancing performance.
Many other ways are effective as well or can be used in combination. Here's a laundry list of possibilities--food for thought.
1. In very small businesses, handing out a $20 bill now and then for extraordinary effort can spur even greater effort and creativity in an employee. Or give a paid day off now and then.
2. Call everyone together and recognize superior performance in front of the group. If you have weekly or monthly gatherings of employees, you might do it then.
3. Set up a bonus system to reward superior performance. You can get creative yourself in how you do this, how you select the person getting the bonus, timing, etc.
4. Set up an employee of the month program. Don't let it become routine--make it a vital part of the business. Use a plaque to which names can be added, inscribed on metal plates.
5. Make up company tee shirts and hand them out at company picnics or other functions. These can be for a stated reason, or they can be part of the way you run your business.
6. Go the extra mile. If your business is incorporated, consider giving out stock certificates to valuable employees. If parking is a problem at your place, consider putting employee names on parking places--yours should be at the end of the line, not closest to the door. If you don't have a company retirement plan, consider setting one up--you'll need professional help with this.
Other options can be effective. Put on your thinking cap and get creative. Little things that show your thoughtfulness and appreciation are often more effective than big splashes.
Whatever you do, do it with a "Thank you" to the employee. It inspires people.
Running your own business can be stressful and frustrating, especially in the early years. I know--I've been there, done that. Keeping your employees happy can help you deal with the acid burn when the cash flow is not flowing.
to help you better manage your small business.
Every business, large and small, needs to optimize the performance of employees. No whips and chains. Just positive stuff.
People appreciate being appreciated. Deep down, all of us crave acceptance. And recognition. That's why a simple "Thank you" goes a long way in creating renewed enthusiasm and enhancing performance.
Many other ways are effective as well or can be used in combination. Here's a laundry list of possibilities--food for thought.
1. In very small businesses, handing out a $20 bill now and then for extraordinary effort can spur even greater effort and creativity in an employee. Or give a paid day off now and then.
2. Call everyone together and recognize superior performance in front of the group. If you have weekly or monthly gatherings of employees, you might do it then.
3. Set up a bonus system to reward superior performance. You can get creative yourself in how you do this, how you select the person getting the bonus, timing, etc.
4. Set up an employee of the month program. Don't let it become routine--make it a vital part of the business. Use a plaque to which names can be added, inscribed on metal plates.
5. Make up company tee shirts and hand them out at company picnics or other functions. These can be for a stated reason, or they can be part of the way you run your business.
6. Go the extra mile. If your business is incorporated, consider giving out stock certificates to valuable employees. If parking is a problem at your place, consider putting employee names on parking places--yours should be at the end of the line, not closest to the door. If you don't have a company retirement plan, consider setting one up--you'll need professional help with this.
Other options can be effective. Put on your thinking cap and get creative. Little things that show your thoughtfulness and appreciation are often more effective than big splashes.
Whatever you do, do it with a "Thank you" to the employee. It inspires people.
Running your own business can be stressful and frustrating, especially in the early years. I know--I've been there, done that. Keeping your employees happy can help you deal with the acid burn when the cash flow is not flowing.
Tuesday, January 27, 2015
Question yourself
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to help you better manage your small business.
You're running your small operation. Or you're thinking about starting one. It's time to question what you're doing and where you're headed.
Want proof? Throw yourself forward in time a thousand years. Archaeologists are sifting through the remains of our civilization. They are perplexed. What could explain the millions of miles of paved roads and the vehicles that used them?
Gradually, the scientists home in on a theory. These ancient peoples were sun worshipers. They raced out of their homes at sunrise, driving around to welcome the sun. At sundown, they interrupted their activities to drive around again to bid the sun goodnight. The highway cloverleafs were the temples.
Any given set of facts can be explained in very different ways. It's true with scientists, and it's true with you and your business.
Questions: Am I in the right business? Am I trying to move too quickly? Am I on top of the changing marketplace? Is the money for growth being generated quickly enough internally? Do I really know my clients/customers? Do they really know what I do, and can do, for them? Am I heading in the same direction they are? Do I pay enough attention to their needs and concerns? What can I do to better prepare for tomorrow's business world? Should I be changing directions to better address tomorrow's marketplace?
People who run small businesses are fleet of foot. That's their edge over big corporations. Small businesses can change directions very quickly. This is a great asset, but it can lead you into blind alleys. Like future archaeologists, people in small business can come to the wrong conclusions.
Logical thinking is one of the great achievements of the human mind. It has proved itself over and over again. But it is not the only tool you have.
Intuition is a tool that leavens the bread. If it feels wrong, don't do it. Intuition can mean that logic has let you down. Go back over what you're planning, and get logic in sync with intuition.
Now, go back to the top and read this again. Pay close attention to the Questions.
Over my lifetime of starting up, growing, thinking and writing about business--first in corporate America and then in small businesses of my own--I have learned valuable lessons. Logical thinking and intuition are foremost among them.
to help you better manage your small business.
You're running your small operation. Or you're thinking about starting one. It's time to question what you're doing and where you're headed.
Want proof? Throw yourself forward in time a thousand years. Archaeologists are sifting through the remains of our civilization. They are perplexed. What could explain the millions of miles of paved roads and the vehicles that used them?
Gradually, the scientists home in on a theory. These ancient peoples were sun worshipers. They raced out of their homes at sunrise, driving around to welcome the sun. At sundown, they interrupted their activities to drive around again to bid the sun goodnight. The highway cloverleafs were the temples.
Any given set of facts can be explained in very different ways. It's true with scientists, and it's true with you and your business.
Questions: Am I in the right business? Am I trying to move too quickly? Am I on top of the changing marketplace? Is the money for growth being generated quickly enough internally? Do I really know my clients/customers? Do they really know what I do, and can do, for them? Am I heading in the same direction they are? Do I pay enough attention to their needs and concerns? What can I do to better prepare for tomorrow's business world? Should I be changing directions to better address tomorrow's marketplace?
People who run small businesses are fleet of foot. That's their edge over big corporations. Small businesses can change directions very quickly. This is a great asset, but it can lead you into blind alleys. Like future archaeologists, people in small business can come to the wrong conclusions.
Logical thinking is one of the great achievements of the human mind. It has proved itself over and over again. But it is not the only tool you have.
Intuition is a tool that leavens the bread. If it feels wrong, don't do it. Intuition can mean that logic has let you down. Go back over what you're planning, and get logic in sync with intuition.
Now, go back to the top and read this again. Pay close attention to the Questions.
Over my lifetime of starting up, growing, thinking and writing about business--first in corporate America and then in small businesses of my own--I have learned valuable lessons. Logical thinking and intuition are foremost among them.
Monday, January 26, 2015
Educate your clients
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Clients and customers don't always know the best solution to their problem. They look to you for expert help.
This is true in many businesses--dentists and therapists, computing and technology experts, landscaping and home remodeling, gift shops and health food stores, gyms and auto repair shops.
It's up to you to dig beneath the surface, make certain that you identify the real problem, and offer solutions to make clients happy. The returns are real--the current job, future come-backs, and referrals.
Example: A specialist in home re-modeling brings lots of experience and expertise to that first visit with a customer. I know a home re-modeler who provides much more than free estimates. If it's a kitchen, he sketches out some quick possibilities, asking questions about the special needs of the cook--islands for special work, hanging racks for pans, storage for small appliances, etc. If it's an office, he discusses what kinds of work will be done there--placement of lighting and windows, storage cabinets and racks, etc. If children are in the house, he reminds the client that the children will be growing up--when they leave, what will be done with this room? If the client plans to sell the home and move on, what types of improvements will add value?
Educating clients by bringing your knowledge to bear can transform the selling experience. It can turn one job into an on-going relationship. It is the client who will pay the bill, so it's up to the specialist to educate and satisfy the client.
More examples: A dentist concentrates on selling smiles, not crowns and fillings. An expert in hearing problems emphasizes his policy that no client pays until 60 days of satisfactory hearing passes. A landscaper shows his client what the new garden will look like, using all the computer tools in his handy laptop. Lawyers need to educate clients on the applicable law, but they also need to find ways to help clients do what they want to do--lawfully.
And experts in computer technology, networking, social media and all the rest need to educate their small business clients. People in small business frequently do not understand what computer people can do for them. They get it when it comes to QuickBooks and TurboTax because they already understand accounting and taxes. But they have little appreciation for what social media can do. People in large corporations understand and use social media. Not so in small business. People in small business need to be educated in the value of social media, how it can help them, how to use it, and what it can mean in growing their business.
Make educating your clients a part of your business. It will repay you in many ways, not the least of which is a happy client who will call you again and again--and refer others to you.
to help you better manage your small business.
Clients and customers don't always know the best solution to their problem. They look to you for expert help.
This is true in many businesses--dentists and therapists, computing and technology experts, landscaping and home remodeling, gift shops and health food stores, gyms and auto repair shops.
It's up to you to dig beneath the surface, make certain that you identify the real problem, and offer solutions to make clients happy. The returns are real--the current job, future come-backs, and referrals.
Example: A specialist in home re-modeling brings lots of experience and expertise to that first visit with a customer. I know a home re-modeler who provides much more than free estimates. If it's a kitchen, he sketches out some quick possibilities, asking questions about the special needs of the cook--islands for special work, hanging racks for pans, storage for small appliances, etc. If it's an office, he discusses what kinds of work will be done there--placement of lighting and windows, storage cabinets and racks, etc. If children are in the house, he reminds the client that the children will be growing up--when they leave, what will be done with this room? If the client plans to sell the home and move on, what types of improvements will add value?
Educating clients by bringing your knowledge to bear can transform the selling experience. It can turn one job into an on-going relationship. It is the client who will pay the bill, so it's up to the specialist to educate and satisfy the client.
More examples: A dentist concentrates on selling smiles, not crowns and fillings. An expert in hearing problems emphasizes his policy that no client pays until 60 days of satisfactory hearing passes. A landscaper shows his client what the new garden will look like, using all the computer tools in his handy laptop. Lawyers need to educate clients on the applicable law, but they also need to find ways to help clients do what they want to do--lawfully.
And experts in computer technology, networking, social media and all the rest need to educate their small business clients. People in small business frequently do not understand what computer people can do for them. They get it when it comes to QuickBooks and TurboTax because they already understand accounting and taxes. But they have little appreciation for what social media can do. People in large corporations understand and use social media. Not so in small business. People in small business need to be educated in the value of social media, how it can help them, how to use it, and what it can mean in growing their business.
Make educating your clients a part of your business. It will repay you in many ways, not the least of which is a happy client who will call you again and again--and refer others to you.
Friday, January 23, 2015
Farm businesses
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to help you better manage your small business.
Farmers and farmer-wannabes, take note. A small farm is a small business. And every small business can grow into something much bigger.
A small farm can be a successful and profitable operation. See to the market and turn a small operation into a business you can be proud of.
Example: Jill put her large backyard to work. She had a friend build 8 large raised beds, and she installed hoops covered with special plastic. Then she planted 16 different types of lettuce. While the seeds sprouted and the young plants grew, Jill made the rounds of chefs and upscale restaurants and returned with orders in hand. Today, she supplies fresh lettuce to her customers. Business is good and Jill plans to expand with spinach, chard and a variety of herbs. Her farm has grown into a backyard business that is supporting her family.
Example: Robert inherited the family farm. His father had raised corn on the large acreage, but Robert had other ideas. He sold most of the land, reserving about 10 acres. He set aside a couple of acres to plant strawberries. In the spring, he furnished strawberries to area restaurants, caterers, bakers and chocolate businesses. He also offered locals a chance to pick-your-own. His income arrives during late May and early June. Today, Robert has doubled the size of his strawberry plantings. He's now planning planting raspberries and blackberries so that summer and fall will be income producing. His father would be proud.
Times change. People today are interested in farm fresh, healthy foods, farm-to-table produce. Tap into this, and just about anyone can establish a farming business.
More examples: Jack had no space of his own, so he rented a farmer's barn and established a mushroom growing operation. Isabel cleared her mother's greenhouse and raises herbs. Woody lives in the city--he put in a hydroponic operation in an old, unused building where he began raising tomatoes, growing in a solution under lights. Woody's farm laughs at the winter weather.
Today's markets grow out of today's lifestyles. It's all about the market and marketing. A comfortable living can be achieved with small farms. An even better living can be yours if you seize the opportunities and do the job right.
Farming is hard work. I know. I grew up on one. But growing things can be immensely rewarding--personally and monetarily.
An ear to the marketplace can turn up all sorts of possibilities. The market is always changing. You gotta keep up if you are to match your dream to reality.
to help you better manage your small business.
Farmers and farmer-wannabes, take note. A small farm is a small business. And every small business can grow into something much bigger.
A small farm can be a successful and profitable operation. See to the market and turn a small operation into a business you can be proud of.
Example: Jill put her large backyard to work. She had a friend build 8 large raised beds, and she installed hoops covered with special plastic. Then she planted 16 different types of lettuce. While the seeds sprouted and the young plants grew, Jill made the rounds of chefs and upscale restaurants and returned with orders in hand. Today, she supplies fresh lettuce to her customers. Business is good and Jill plans to expand with spinach, chard and a variety of herbs. Her farm has grown into a backyard business that is supporting her family.
Example: Robert inherited the family farm. His father had raised corn on the large acreage, but Robert had other ideas. He sold most of the land, reserving about 10 acres. He set aside a couple of acres to plant strawberries. In the spring, he furnished strawberries to area restaurants, caterers, bakers and chocolate businesses. He also offered locals a chance to pick-your-own. His income arrives during late May and early June. Today, Robert has doubled the size of his strawberry plantings. He's now planning planting raspberries and blackberries so that summer and fall will be income producing. His father would be proud.
Times change. People today are interested in farm fresh, healthy foods, farm-to-table produce. Tap into this, and just about anyone can establish a farming business.
More examples: Jack had no space of his own, so he rented a farmer's barn and established a mushroom growing operation. Isabel cleared her mother's greenhouse and raises herbs. Woody lives in the city--he put in a hydroponic operation in an old, unused building where he began raising tomatoes, growing in a solution under lights. Woody's farm laughs at the winter weather.
Today's markets grow out of today's lifestyles. It's all about the market and marketing. A comfortable living can be achieved with small farms. An even better living can be yours if you seize the opportunities and do the job right.
Farming is hard work. I know. I grew up on one. But growing things can be immensely rewarding--personally and monetarily.
An ear to the marketplace can turn up all sorts of possibilities. The market is always changing. You gotta keep up if you are to match your dream to reality.
Thursday, January 22, 2015
Shipping charges
Free daily tips, information, advice and ideas
to help you better manage your small business
But wait! We'll double the offer! Shipping is free!
We've all heard the pitch on cable for kitchen items and cleaning products. It must work, or these advertisements would not be so plentiful.
There are several clues here for small business. Take the free shipping for example.
People hate it when you low-ball the price of your product on your website, then tack on shipping charges when they go to checkout. That's frequently when they clickout and checkout themselves. How many abandoned shopping carts have you had?
The thing that cable advertisers have learned is simple. Include shipping charges in the price of the product and emphasize that shipping is free.
Think about it. You've attracted customers with your product. Now you've lost them for the sake of a shipping charge.
Sometimes it can be expected and appropriate. Other times not so much. Many don't seem to mind a shipping charge. Others do. But you don't want to lose the sale.
Example: Wendy is an artist who hand-paints silk scarves with colorful designs. She sells at high end gift shops, shows, and through her website. On her website, the scarves are priced at $75 and higher, and she adds a shipping charge to orders. She decided to make changes on her website--all orders gift-wrapped, base price raised to $100 and shipping charge eliminated. She realized more sales.
Example: John repairs computers and other electronic devices in his small local shop. He also sells parts, software, and games through his website. This has attracted customers from distant places. His customers don't seem to mind shipping charges which can vary according to the size of the order and type of shipping preferred by the customer.
When orders are big, bulky and vary by size, customers don't seem to care much about shipping charges. But for small, light weight products, they do.
Over the years, I've learned a lot from watching the ads on television. Some are in-your-face. With others, it's hard to understand what's being promoted. But that shipping charge is on everyone's mind.
to help you better manage your small business
But wait! We'll double the offer! Shipping is free!
We've all heard the pitch on cable for kitchen items and cleaning products. It must work, or these advertisements would not be so plentiful.
There are several clues here for small business. Take the free shipping for example.
People hate it when you low-ball the price of your product on your website, then tack on shipping charges when they go to checkout. That's frequently when they clickout and checkout themselves. How many abandoned shopping carts have you had?
The thing that cable advertisers have learned is simple. Include shipping charges in the price of the product and emphasize that shipping is free.
Think about it. You've attracted customers with your product. Now you've lost them for the sake of a shipping charge.
Sometimes it can be expected and appropriate. Other times not so much. Many don't seem to mind a shipping charge. Others do. But you don't want to lose the sale.
Example: Wendy is an artist who hand-paints silk scarves with colorful designs. She sells at high end gift shops, shows, and through her website. On her website, the scarves are priced at $75 and higher, and she adds a shipping charge to orders. She decided to make changes on her website--all orders gift-wrapped, base price raised to $100 and shipping charge eliminated. She realized more sales.
Example: John repairs computers and other electronic devices in his small local shop. He also sells parts, software, and games through his website. This has attracted customers from distant places. His customers don't seem to mind shipping charges which can vary according to the size of the order and type of shipping preferred by the customer.
When orders are big, bulky and vary by size, customers don't seem to care much about shipping charges. But for small, light weight products, they do.
Over the years, I've learned a lot from watching the ads on television. Some are in-your-face. With others, it's hard to understand what's being promoted. But that shipping charge is on everyone's mind.
Wednesday, January 21, 2015
Ambiance attracts
Free daily tips, information, advice and ideas
to help you better manage your small business
You are familiar with the ambiance that brings you back to your favorite restaurant. How about ambiance in other places?
Chiropractors and therapists have waiting rooms and treatment rooms. Do these make you want to come back?
Do you return to the health food store because it invites browsing? Do you visit the women's clothing store just to pick up what you've special-ordered? Or are you anxious to go back to see what's new in the display of hot shoe styles?
Example: Peggy runs a pet supply store on Main Street. She decided to kick it up a notch. She arranged to have her front window turned into a showplace for puppies. A call to the local pet adoption center resulted in half a dozen puppies arriving at the pet store every week. Puppies in the window created quite a buzz and brought new customers into the store. They stocked up on supplies and sometimes they adopted puppies.
Ambiance can mean different things in different businesses. The owner of an auto repair shop installed a 50-inch television set in the waiting room. A dentist turned his waiting room into a playroom for children--including computer games.
Example: Takisha used her grandmother's recipes to create unusually flavorful cookies in her local bake shop. When she added a couple of small tables and a coffee machine, she attracted more customers looking for a quick pick-me-up. When she added a small table of free bite-sized samples, she attracted even more people, and they bought more to take home.
Turning your place into something that adds to the attraction takes thought and creativity. Think about ways to jack up the ambiance that will entertain, titillate and even inspire your customers and clients. It can firmly anchor your place in their minds.
Ambiance is not limited to bricks-and-mortar stores. Snapping those pictures and posting on social media helps extend the ambiance of your operation. You're aiming to provide a warm feeling about your products and services and keep you in the minds of viewers.
to help you better manage your small business
You are familiar with the ambiance that brings you back to your favorite restaurant. How about ambiance in other places?
Chiropractors and therapists have waiting rooms and treatment rooms. Do these make you want to come back?
Do you return to the health food store because it invites browsing? Do you visit the women's clothing store just to pick up what you've special-ordered? Or are you anxious to go back to see what's new in the display of hot shoe styles?
Example: Peggy runs a pet supply store on Main Street. She decided to kick it up a notch. She arranged to have her front window turned into a showplace for puppies. A call to the local pet adoption center resulted in half a dozen puppies arriving at the pet store every week. Puppies in the window created quite a buzz and brought new customers into the store. They stocked up on supplies and sometimes they adopted puppies.
Ambiance can mean different things in different businesses. The owner of an auto repair shop installed a 50-inch television set in the waiting room. A dentist turned his waiting room into a playroom for children--including computer games.
Example: Takisha used her grandmother's recipes to create unusually flavorful cookies in her local bake shop. When she added a couple of small tables and a coffee machine, she attracted more customers looking for a quick pick-me-up. When she added a small table of free bite-sized samples, she attracted even more people, and they bought more to take home.
Turning your place into something that adds to the attraction takes thought and creativity. Think about ways to jack up the ambiance that will entertain, titillate and even inspire your customers and clients. It can firmly anchor your place in their minds.
Ambiance is not limited to bricks-and-mortar stores. Snapping those pictures and posting on social media helps extend the ambiance of your operation. You're aiming to provide a warm feeling about your products and services and keep you in the minds of viewers.
Tuesday, January 20, 2015
Customer friends
Free daily tips, information, advice and ideas
to help you better manage your small business
People who start a business frequently don't know the difference between personal friends and business friends. Until you get the hang of it, it can be confusing.
A personal friend is someone you're comfortable with. You willingly share private pieces of your life. You enjoy being around personal friends.
A business friend is a customer or client. These people trust you to provide certain goods and services. They feel that you have integrity. The relationship is at arm's length and professional.
Example: I know the owner of a small gift shop who is downright unpleasant with some customers who wander into her place. Instead of assuming a professional attitude, she immediately "likes" or "dislikes" shoppers. She treats them accordingly, bringing her own attitudes and preferences into play. Because of unprofessional treatment, many potential shoppers leave and never return. The business suffers because of the owner's treatment of customers. People who come into her shop don't arrive looking for a personal friend. They are attracted by something they saw in the window. They expect, and deserve, respect.
Every business owner will encounter a difficult and demanding customer. Sometimes these types of customers are people you'd rather not deal with. Just be careful not to let your personal preferences drive away customers.
Example: Bob does home improvements. He has a lifetime of experience in carpentry, painting and those small jobs around the house--hanging a door, repairing tile work, seeing to a squeaky stair. His estimates are free, but sometimes when he arrives at the homeowner's place, he turns and leaves without even knocking. He explained to me once that he had seen so many homes and dealt with so many people, he could quickly make a decision whether or not to knock on the door. If the car in the driveway is old and if he sees signs of neglect, he moves on.
This is not professional. Maybe the person has just bought the house. Maybe the old car means that the owner is thrifty. Maybe---anything.
You can run your own business any way you like. But setting up to serve only people you would consider having as personal friends will severely limit the business future. Best growth is achieved by serving business friends in a professional, arm's length manner.
Business friends are customer friends. They appreciate professionalism and they will refer others to you. Personal friends have another agenda.
When you let your personal "likes" and "dislikes" invade your business space, you run the risk of turning away the very customers who can help you grow.
to help you better manage your small business
People who start a business frequently don't know the difference between personal friends and business friends. Until you get the hang of it, it can be confusing.
A personal friend is someone you're comfortable with. You willingly share private pieces of your life. You enjoy being around personal friends.
A business friend is a customer or client. These people trust you to provide certain goods and services. They feel that you have integrity. The relationship is at arm's length and professional.
Example: I know the owner of a small gift shop who is downright unpleasant with some customers who wander into her place. Instead of assuming a professional attitude, she immediately "likes" or "dislikes" shoppers. She treats them accordingly, bringing her own attitudes and preferences into play. Because of unprofessional treatment, many potential shoppers leave and never return. The business suffers because of the owner's treatment of customers. People who come into her shop don't arrive looking for a personal friend. They are attracted by something they saw in the window. They expect, and deserve, respect.
Every business owner will encounter a difficult and demanding customer. Sometimes these types of customers are people you'd rather not deal with. Just be careful not to let your personal preferences drive away customers.
Example: Bob does home improvements. He has a lifetime of experience in carpentry, painting and those small jobs around the house--hanging a door, repairing tile work, seeing to a squeaky stair. His estimates are free, but sometimes when he arrives at the homeowner's place, he turns and leaves without even knocking. He explained to me once that he had seen so many homes and dealt with so many people, he could quickly make a decision whether or not to knock on the door. If the car in the driveway is old and if he sees signs of neglect, he moves on.
This is not professional. Maybe the person has just bought the house. Maybe the old car means that the owner is thrifty. Maybe---anything.
You can run your own business any way you like. But setting up to serve only people you would consider having as personal friends will severely limit the business future. Best growth is achieved by serving business friends in a professional, arm's length manner.
Business friends are customer friends. They appreciate professionalism and they will refer others to you. Personal friends have another agenda.
When you let your personal "likes" and "dislikes" invade your business space, you run the risk of turning away the very customers who can help you grow.
Monday, January 19, 2015
Building trust
Free daily tips, information, advice and ideas
to help you better manage your small business
The trust your customers place in you is extremely important. Trust is the bond between you and your customers. Trust results in repeat business and referrals.
Building customer trust happens every time you fulfill your customer's expectations. Every job you complete and every product you sell can result in future business--from the customer and from their referrals.
I learned many valuable lessons from my father. When you do a job, he said, do it well and do it on time. I remembered this every time I started up a business.
Example: When I left corporate America, I started up a graphic arts firm in downtown Manhattan. My customers were brokerage firms, financial people, banks and insurance companies. These people wanted a supplier who could deliver the goods--on time and without errors. On my end, meeting tight deadlines meant having reliable employees, the latest equipment, and setting up a 24-hour operation. With every job, we built customer trust. The job itself was the vehicle--what we were selling was customer trust. The word spread throughout the Wall Street community.
In every business, large or small, delivering what the customer wants is what spells success. That trusting relationship is what growth is all about. If you drop the ball, you run the risk of losing your customer.
Examples: The baker who delivers the wedding cake late has lost a customer. The financial planner who loses his customer's money has lost a customer. The holistic practitioner whose clients go away feeling less than optimal has lost clients. The attorney who drags out the process of drawing up a will loses a customer. The landscaper who plants hostas instead of daylilies has lost a customer.
Bad news travels faster than good. When you betray a customer's trust, you've told that customer to go someplace else. More importantly, you've lost all the referrals the customer might have brought you.
Keep it positive. Keep it right. Keep it on time. This keeps the focus on building trust.
Building trust is what you're selling. It keeps the focus where it should be--not on the product or service you're providing, but on the long term relationship.
to help you better manage your small business
The trust your customers place in you is extremely important. Trust is the bond between you and your customers. Trust results in repeat business and referrals.
Building customer trust happens every time you fulfill your customer's expectations. Every job you complete and every product you sell can result in future business--from the customer and from their referrals.
I learned many valuable lessons from my father. When you do a job, he said, do it well and do it on time. I remembered this every time I started up a business.
Example: When I left corporate America, I started up a graphic arts firm in downtown Manhattan. My customers were brokerage firms, financial people, banks and insurance companies. These people wanted a supplier who could deliver the goods--on time and without errors. On my end, meeting tight deadlines meant having reliable employees, the latest equipment, and setting up a 24-hour operation. With every job, we built customer trust. The job itself was the vehicle--what we were selling was customer trust. The word spread throughout the Wall Street community.
In every business, large or small, delivering what the customer wants is what spells success. That trusting relationship is what growth is all about. If you drop the ball, you run the risk of losing your customer.
Examples: The baker who delivers the wedding cake late has lost a customer. The financial planner who loses his customer's money has lost a customer. The holistic practitioner whose clients go away feeling less than optimal has lost clients. The attorney who drags out the process of drawing up a will loses a customer. The landscaper who plants hostas instead of daylilies has lost a customer.
Bad news travels faster than good. When you betray a customer's trust, you've told that customer to go someplace else. More importantly, you've lost all the referrals the customer might have brought you.
Keep it positive. Keep it right. Keep it on time. This keeps the focus on building trust.
Building trust is what you're selling. It keeps the focus where it should be--not on the product or service you're providing, but on the long term relationship.
Friday, January 16, 2015
Using social media
Free daily tips, information, advice and ideas
to help you better manage your small business.
Social media offers many opportunities for small business. Using today's technology, your place of business can be at home or in the local coffee shop.
I'm not just talking tablets and cell phones here. You don't have to be a rocket scientist to take advantage of social media today.
Example: A woman once came to me for advice on starting up a business idea she had. It was the 1980s, and she had heard that magnets were being used to help speed recovery of sports injuries. She wanted to put magnets inside horse blankets so that horses could recover more rapidly after workouts, races, shows, and the like. I sent her off to do more market research by talking with prospective buyers. When she returned, she had orders in hand. Her business was self-funded from day one--no loan, no written business plan, no government help.
It's one thing to use technology as a product basis. It's quite another thing to use the technological reach of today's social media. Think how far she could have reached today!
Example: More recently, another woman came to me wondering how to turn her love of baking into a real business. She had baked brownies, scones and other goodies for years. She had been giving them away, providing treats to local gatherings, selling at local fairs and flea markets. I advised her to think of a bigger, more substantial market--corporate meetings, organizations holding seminars, spas and retreats, and the like. How to reach out? By using the many possibilities offered by social media. She put a basic website in place and began using social media with many pictures of her baked goodies. This was her sales force, along with an enthusiastic word of mouth referral network that developed. The UPS truck now comes to her place every day, loads up packages of baked goods, and delivers them all other the country. All this with no loan, no written business plan and no government help.
The social media of today can quickly turn a small business into a much larger one very quickly. Today, the lady uses her camera as much as she uses her oven. The pictures go up on social media and the orders come in.
Your small business can only grow as large as your business reach. Social media has turned the whole country into a local community.
My personal experience starting up and growing small businesses goes back to 1972. That's when I left corporate America and established a business. Since then, I've had several. I can only imagine how much bigger the businesses would have grown had social media been available to me. Use it. It's easy.
to help you better manage your small business.
Social media offers many opportunities for small business. Using today's technology, your place of business can be at home or in the local coffee shop.
I'm not just talking tablets and cell phones here. You don't have to be a rocket scientist to take advantage of social media today.
Example: A woman once came to me for advice on starting up a business idea she had. It was the 1980s, and she had heard that magnets were being used to help speed recovery of sports injuries. She wanted to put magnets inside horse blankets so that horses could recover more rapidly after workouts, races, shows, and the like. I sent her off to do more market research by talking with prospective buyers. When she returned, she had orders in hand. Her business was self-funded from day one--no loan, no written business plan, no government help.
It's one thing to use technology as a product basis. It's quite another thing to use the technological reach of today's social media. Think how far she could have reached today!
Example: More recently, another woman came to me wondering how to turn her love of baking into a real business. She had baked brownies, scones and other goodies for years. She had been giving them away, providing treats to local gatherings, selling at local fairs and flea markets. I advised her to think of a bigger, more substantial market--corporate meetings, organizations holding seminars, spas and retreats, and the like. How to reach out? By using the many possibilities offered by social media. She put a basic website in place and began using social media with many pictures of her baked goodies. This was her sales force, along with an enthusiastic word of mouth referral network that developed. The UPS truck now comes to her place every day, loads up packages of baked goods, and delivers them all other the country. All this with no loan, no written business plan and no government help.
The social media of today can quickly turn a small business into a much larger one very quickly. Today, the lady uses her camera as much as she uses her oven. The pictures go up on social media and the orders come in.
Your small business can only grow as large as your business reach. Social media has turned the whole country into a local community.
My personal experience starting up and growing small businesses goes back to 1972. That's when I left corporate America and established a business. Since then, I've had several. I can only imagine how much bigger the businesses would have grown had social media been available to me. Use it. It's easy.
Thursday, January 15, 2015
Pocketing cash
Free daily tips, information, advice and ideas
to help you better manage your small business.
Some people like to run cash businesses--pocketing the cash received. This is short-sighted and can be downright dangerous.
The IRS can get very creative in going after business owners who pocket cash received. Keep in mind that your own records can indicate discrepancies.
Examples: An upscale restaurant regularly sends out the white tablecloths to a laundry. This can indicate to an investigator just how many meals have been served. When compared to the bank account, a discrepancy might pop into view. Bakeries can be hard pressed to explain the differences between raw materials bought and goods sold. Therapists typically keep an appointment book. When bank deposits do not agree with appointment records, questions will arise that can be hard to explain.
Think carefully about your own situation. Every business keeps records of various types. These can point to a business owner who is pocketing cash.
Example: Robert ran a one-man delivery service for several clients. He picked up groceries from the supermarket and delivered to customers who paid in cash. He expanded to deliver auto parts to garages, restaurant meals to shut-ins, and had an arrangement with a couple of pizza parlors. The payments and tips went into his pocket--until the IRS caught up with him. In an audit of an auto repair shop, an alert auditor noticed the deliveries and that led the IRS to Robert. He could have grown his delivery service into a bigger operation, but he fell into the trap of spending all the cash he received.
Once the IRS gets on a trail, they do not stop. These are people with their own careers to protect. Like any good employee, an auditor is building a reputation and resume.
Example: Bill ran a small printing operation. Frequently, customers paid him in cash. Bill always deposited the cash into his business checking account. This practice kept the records clean and in perfect order. The IRS found no problems when they came calling on a routine audit of the operation.
There are many legitimate ways to get funds out of a business and into your personal account. Talk to your accountant or tax professional. Whatever you do, don't pocket cash received from your customers and clients.
Over a lifetime, I have started up and operated several small businesses. Fortunately, I had good advice from the very beginning. One of the best pieces of advice I ever received was "Never pocket cash received."
to help you better manage your small business.
Some people like to run cash businesses--pocketing the cash received. This is short-sighted and can be downright dangerous.
The IRS can get very creative in going after business owners who pocket cash received. Keep in mind that your own records can indicate discrepancies.
Examples: An upscale restaurant regularly sends out the white tablecloths to a laundry. This can indicate to an investigator just how many meals have been served. When compared to the bank account, a discrepancy might pop into view. Bakeries can be hard pressed to explain the differences between raw materials bought and goods sold. Therapists typically keep an appointment book. When bank deposits do not agree with appointment records, questions will arise that can be hard to explain.
Think carefully about your own situation. Every business keeps records of various types. These can point to a business owner who is pocketing cash.
Example: Robert ran a one-man delivery service for several clients. He picked up groceries from the supermarket and delivered to customers who paid in cash. He expanded to deliver auto parts to garages, restaurant meals to shut-ins, and had an arrangement with a couple of pizza parlors. The payments and tips went into his pocket--until the IRS caught up with him. In an audit of an auto repair shop, an alert auditor noticed the deliveries and that led the IRS to Robert. He could have grown his delivery service into a bigger operation, but he fell into the trap of spending all the cash he received.
Once the IRS gets on a trail, they do not stop. These are people with their own careers to protect. Like any good employee, an auditor is building a reputation and resume.
Example: Bill ran a small printing operation. Frequently, customers paid him in cash. Bill always deposited the cash into his business checking account. This practice kept the records clean and in perfect order. The IRS found no problems when they came calling on a routine audit of the operation.
There are many legitimate ways to get funds out of a business and into your personal account. Talk to your accountant or tax professional. Whatever you do, don't pocket cash received from your customers and clients.
Over a lifetime, I have started up and operated several small businesses. Fortunately, I had good advice from the very beginning. One of the best pieces of advice I ever received was "Never pocket cash received."
Wednesday, January 14, 2015
Two party promotions
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Successful businesses promote. Ways to promote can vary widely from business to business. What works for a small cafe might not work for a car wash.
Some promotions work well in many businesses. Open houses, information sessions, and demonstrations can work for just about everyone.
Set these up yourself, or get together with another business person to offer two party promotions. These promotional activities are easy to organize and they cost little, or nothing in some cases.
Example: A small neighborhood restaurant brings in a group of musicians who perform Irish music on authentic instruments. The musicians do it for the love of the music--and a venue where they can practice and perform. People come to expect the music every Sunday afternoon, and the restaurant is more successful than before. Both parties win.
Example: Spas and salons bring in holistic practitioners to offer introductory sessions explaining their services. The sessions create lots of buzz for the spas and salons, not only among regular clients but among referrals as well. The sessions can lead to more substantive sessions for the nutritionists, hypnosis experts, Reiki and massage practitioners, and others.
Example: A garden center hosts free sessions by experienced gardeners aimed at a public hungry for expertise in horticulture. The sessions are very popular in spring. In summer, the garden center brings in experts to demonstrate how to build fences, how to use pavers to create patios and walkways, and other outdoor activities of interest to homeowners.
Example: A winery hosts art shows as well as artists creating their plein-air works out among the vines in the vineyard. Artists make contacts and come away with sales opportunities not otherwise available to them. The winery attracts more upscale visitors to sample their wines--and buy a case to take home. Both parties are winners.
To set up your own two party promotions, think outside the box. What can get attention? What are the interests of my customers? How do I contain costs? Are there new types of customers I want to attract?
When you've homed in on your two party promotional event, get the word out. Post on your website, Facebook and other social media.
Two party promotions can be very effective in tapping into new customer streams. The excitement created in the community will help spread the word--you'll get more referrals.
to help you better manage your small business.
Successful businesses promote. Ways to promote can vary widely from business to business. What works for a small cafe might not work for a car wash.
Some promotions work well in many businesses. Open houses, information sessions, and demonstrations can work for just about everyone.
Set these up yourself, or get together with another business person to offer two party promotions. These promotional activities are easy to organize and they cost little, or nothing in some cases.
Example: A small neighborhood restaurant brings in a group of musicians who perform Irish music on authentic instruments. The musicians do it for the love of the music--and a venue where they can practice and perform. People come to expect the music every Sunday afternoon, and the restaurant is more successful than before. Both parties win.
Example: Spas and salons bring in holistic practitioners to offer introductory sessions explaining their services. The sessions create lots of buzz for the spas and salons, not only among regular clients but among referrals as well. The sessions can lead to more substantive sessions for the nutritionists, hypnosis experts, Reiki and massage practitioners, and others.
Example: A garden center hosts free sessions by experienced gardeners aimed at a public hungry for expertise in horticulture. The sessions are very popular in spring. In summer, the garden center brings in experts to demonstrate how to build fences, how to use pavers to create patios and walkways, and other outdoor activities of interest to homeowners.
Example: A winery hosts art shows as well as artists creating their plein-air works out among the vines in the vineyard. Artists make contacts and come away with sales opportunities not otherwise available to them. The winery attracts more upscale visitors to sample their wines--and buy a case to take home. Both parties are winners.
To set up your own two party promotions, think outside the box. What can get attention? What are the interests of my customers? How do I contain costs? Are there new types of customers I want to attract?
When you've homed in on your two party promotional event, get the word out. Post on your website, Facebook and other social media.
Two party promotions can be very effective in tapping into new customer streams. The excitement created in the community will help spread the word--you'll get more referrals.
Tuesday, January 13, 2015
Plan every day
Free daily tips, information, advice and ideas
to help you better manage your small business.
Business planning is not difficult. You already do it all the time.
Planning is all about customers/clients. No matter your business, the future depends on them. Customers/clients are the foundation. Today's customers/clients tell you where you are. Tomorrow's tell you where you're headed.
A formal business plan puts all this into perspective. It's what you deserve to have in hand before you make a big expansion move. It's what your banker wants to see when you go for that expansion loan.
Writing up a business plan begins today. The most important part of your plan is your present customer/client base and how you plan to expand to include more.
Pay close attention to your present customers/clients. Get to know them. Get to know how, what and when they buy products and services. Find out what else they want--how you can serve them better. This takes careful attention.
The same applies to the direction in which you're headed. What new base of customers are you targeting? How, what and when will they buy the new products and services you are thinking about offering? What else might they want?
Examples: You are a chiropractor, and you're getting questions from present clients about the benefits of seeing a massage therapist. You run a restaurant, and you're getting requests for gluten-free preparations. You operate a small print shop, and you're asked for a referral to handle small mailings. You have a yoga studio, and people are asking you to recommend a nutritionist. You are an attorney, and you get a call asking for a recommendation for someone to handle a worker's comp claim. You are a landscaper, but can you build a patio? You can troubleshoot and repair my computer networks, but can you help me with social media?
All these examples are clues to possible expansions of small businesses. These clues come from customers/clients looking for products and services to better serve their needs. And they can point the way to your expansion.
Clues come to you almost daily when you're in small business. Don't dismiss these clues. They are valuable planning initiators. Does the question trigger a possible expansion direction for your business?
Expansions can be as simple as adding a new line of products/services. Or you can decide to go off in a completely new direction. Either way, take a hard and in-depth look at the market that will support the new line or the new direction.
Seeing to your planning every day can be of enormous help when the time comes to write up a formal business plan. You already do the daily stuff. Now it's all about the future market. Put the daily stuff together with the future market and you're ready for the banker when he asks to see your business plan.
Don't go all wobbly when you're asked for your business plan. You plan every day. It's now a matter of pulling it all together and matching it with the future market for your goods and services.
to help you better manage your small business.
Business planning is not difficult. You already do it all the time.
Planning is all about customers/clients. No matter your business, the future depends on them. Customers/clients are the foundation. Today's customers/clients tell you where you are. Tomorrow's tell you where you're headed.
A formal business plan puts all this into perspective. It's what you deserve to have in hand before you make a big expansion move. It's what your banker wants to see when you go for that expansion loan.
Writing up a business plan begins today. The most important part of your plan is your present customer/client base and how you plan to expand to include more.
Pay close attention to your present customers/clients. Get to know them. Get to know how, what and when they buy products and services. Find out what else they want--how you can serve them better. This takes careful attention.
The same applies to the direction in which you're headed. What new base of customers are you targeting? How, what and when will they buy the new products and services you are thinking about offering? What else might they want?
Examples: You are a chiropractor, and you're getting questions from present clients about the benefits of seeing a massage therapist. You run a restaurant, and you're getting requests for gluten-free preparations. You operate a small print shop, and you're asked for a referral to handle small mailings. You have a yoga studio, and people are asking you to recommend a nutritionist. You are an attorney, and you get a call asking for a recommendation for someone to handle a worker's comp claim. You are a landscaper, but can you build a patio? You can troubleshoot and repair my computer networks, but can you help me with social media?
All these examples are clues to possible expansions of small businesses. These clues come from customers/clients looking for products and services to better serve their needs. And they can point the way to your expansion.
Clues come to you almost daily when you're in small business. Don't dismiss these clues. They are valuable planning initiators. Does the question trigger a possible expansion direction for your business?
Expansions can be as simple as adding a new line of products/services. Or you can decide to go off in a completely new direction. Either way, take a hard and in-depth look at the market that will support the new line or the new direction.
Seeing to your planning every day can be of enormous help when the time comes to write up a formal business plan. You already do the daily stuff. Now it's all about the future market. Put the daily stuff together with the future market and you're ready for the banker when he asks to see your business plan.
Don't go all wobbly when you're asked for your business plan. You plan every day. It's now a matter of pulling it all together and matching it with the future market for your goods and services.
Monday, January 12, 2015
Promotion ideas
Free daily tips, information, advice, and ideas
to help you better manage your small business.
You need to think beyond holidays to promote your business. You can turn any day into a holiday if you think outside the box.
Example: A florist I know concentrates on promoting his design capabilities. Of course, beautiful flowers are traditional for Mother's Day. It's the biggest day of the year for florists. But he does more. He emails and posts on social media pictures of his designs far ahead of Mother's Day. Beginning in early March, he reaches out to customers, reminding them that he has fresh or custom designs for birthdays, anniversaries, corporate meetings, and more. And, oh yes, remember Mother's Day is coming up.
Today's advertising is much more than an ad in the newspaper. And it can be more than a special reminder of an upcoming special day. Social media has seen to this.
Example: I know an Internet operation built entirely around brownies. Brownies are shipped anywhere. There is no bricks-and-mortar store. Only Internet orders are filled. Regularly, emails are sent out to customers. The email consists of three words: "Time for brownies?" It accompanies a close-up picture of a scrumptious, chocolaty, nut-filled brownie. That's it. Who can resist? The picture of the brownie creates the need for a personal holiday, and the orders come in--for corporate events, organizational meetings, private parties.
Thinking outside the box can help you with promotions. You can tap into holiday excitement or create one of your own. Customers are busy with their own lives. And they might appreciate the picture of a floral design or a brownie you send along. You are becoming part of their lives.
Example: I know an ice cream parlor (yes, they still exist) that devotes most of its space to special events the customers hold there. Birthdays, anniversaries, corporate get-togethers, and parties are much more fun when held in an old fashioned ice cream parlor. It has the red leather covered stools, the gleaming counter, and black and white tiles cover the floor. Of course, much more than ice cream is offered--with frozen yogurt, sugarless concoctions, biscotti and lattes all around. Instead of being just a summertime destination, the place hops all year. Customers schedule their events, and they don't have to worry about cleaning up.
Of course you promote for holidays. But don't miss opportunities that can turn every day into a holiday for your customers.
Businesses build events around more than food and flowers. Chiropractors, fitness instructors, nutritionists, yoga practitioners and others set up open houses offering free talks, demonstrations, question and answer sessions. These types of events attract community attention--and referrals.
to help you better manage your small business.
You need to think beyond holidays to promote your business. You can turn any day into a holiday if you think outside the box.
Example: A florist I know concentrates on promoting his design capabilities. Of course, beautiful flowers are traditional for Mother's Day. It's the biggest day of the year for florists. But he does more. He emails and posts on social media pictures of his designs far ahead of Mother's Day. Beginning in early March, he reaches out to customers, reminding them that he has fresh or custom designs for birthdays, anniversaries, corporate meetings, and more. And, oh yes, remember Mother's Day is coming up.
Today's advertising is much more than an ad in the newspaper. And it can be more than a special reminder of an upcoming special day. Social media has seen to this.
Example: I know an Internet operation built entirely around brownies. Brownies are shipped anywhere. There is no bricks-and-mortar store. Only Internet orders are filled. Regularly, emails are sent out to customers. The email consists of three words: "Time for brownies?" It accompanies a close-up picture of a scrumptious, chocolaty, nut-filled brownie. That's it. Who can resist? The picture of the brownie creates the need for a personal holiday, and the orders come in--for corporate events, organizational meetings, private parties.
Thinking outside the box can help you with promotions. You can tap into holiday excitement or create one of your own. Customers are busy with their own lives. And they might appreciate the picture of a floral design or a brownie you send along. You are becoming part of their lives.
Example: I know an ice cream parlor (yes, they still exist) that devotes most of its space to special events the customers hold there. Birthdays, anniversaries, corporate get-togethers, and parties are much more fun when held in an old fashioned ice cream parlor. It has the red leather covered stools, the gleaming counter, and black and white tiles cover the floor. Of course, much more than ice cream is offered--with frozen yogurt, sugarless concoctions, biscotti and lattes all around. Instead of being just a summertime destination, the place hops all year. Customers schedule their events, and they don't have to worry about cleaning up.
Of course you promote for holidays. But don't miss opportunities that can turn every day into a holiday for your customers.
Businesses build events around more than food and flowers. Chiropractors, fitness instructors, nutritionists, yoga practitioners and others set up open houses offering free talks, demonstrations, question and answer sessions. These types of events attract community attention--and referrals.
Friday, January 9, 2015
Negotiate success
Free daily tips, information, advice, ideas
to help you better manage your small business.
Everyone negotiates. Children learn early in life that they must negotiate with their parents to get what they want.
As we grow up, we learn to negotiate at every turn. In your vehicle you negotiate your way through an intersection. In a store, you negotiate your way through the aisles to find what you are looking for.
Before you sign that lease for space, you negotiate terms. At your bank, you negotiate your way to the terms that best suit you.
Example: To negotiate, you need leverage. One way to get better terms on that space you want is to show the landlord that you know something about the future economy. Landlords want certainty. In an economy that is iffy, you might get better terms on the "little" stuff by offering to sign for 5 years instead of 3. Sometimes, this can bring the monthly rate down. Plus, the "little" stuff can mean more to you than to the landlord. These might include lower electricity rates, heating costs, or some construction changes. Landlords might be willing to exchange these for the longer term lease--and the certainty it brings.
If you have never been involved in negotiating, then you need some experience. A simple way to begin is at the local flea market. You spy a coffee mug priced at $10. You offer the seller $5. The seller counters with $8. You say you might go $6. You home in on the difference and the mug is yours for $7. Back at your place, you set the mug on the shelf--it will never hold coffee. It is a trophy and a constant reminder of your negotiating.
While this little activity is a simplistic learning experience, it can serve you well. The target of negotiating is to reduce costs. It works with landlords, bankers, suppliers, and others.
Basically, you put yourself in the other person's shoes. What is most important to the other side? With a landlord, it is to get the space rented. With the flea market, it is to make a sale. Structure the deal to give the other side what they really want, and at the same time look to save yourself some dollars.
Negotiating is easy once you get the hang of it. Just remember, you're working BOTH sides to bring the other party into line with what you want.
to help you better manage your small business.
Everyone negotiates. Children learn early in life that they must negotiate with their parents to get what they want.
As we grow up, we learn to negotiate at every turn. In your vehicle you negotiate your way through an intersection. In a store, you negotiate your way through the aisles to find what you are looking for.
Before you sign that lease for space, you negotiate terms. At your bank, you negotiate your way to the terms that best suit you.
Example: To negotiate, you need leverage. One way to get better terms on that space you want is to show the landlord that you know something about the future economy. Landlords want certainty. In an economy that is iffy, you might get better terms on the "little" stuff by offering to sign for 5 years instead of 3. Sometimes, this can bring the monthly rate down. Plus, the "little" stuff can mean more to you than to the landlord. These might include lower electricity rates, heating costs, or some construction changes. Landlords might be willing to exchange these for the longer term lease--and the certainty it brings.
If you have never been involved in negotiating, then you need some experience. A simple way to begin is at the local flea market. You spy a coffee mug priced at $10. You offer the seller $5. The seller counters with $8. You say you might go $6. You home in on the difference and the mug is yours for $7. Back at your place, you set the mug on the shelf--it will never hold coffee. It is a trophy and a constant reminder of your negotiating.
While this little activity is a simplistic learning experience, it can serve you well. The target of negotiating is to reduce costs. It works with landlords, bankers, suppliers, and others.
Basically, you put yourself in the other person's shoes. What is most important to the other side? With a landlord, it is to get the space rented. With the flea market, it is to make a sale. Structure the deal to give the other side what they really want, and at the same time look to save yourself some dollars.
Negotiating is easy once you get the hang of it. Just remember, you're working BOTH sides to bring the other party into line with what you want.
Thursday, January 8, 2015
Facing the music
Free daily tips, information, advice, and ideas
to help you better manage your small business.
To grow your small business, you need to face the music from time to time. Old songs lose their edge. Singing styles change.
The music that moved you in the past can begin to show its age. When this happens, get yourself into a quiet place. Leave behind your phone, television and all the other technological goodies that can distract you.
Ask yourself some honest questions. Start the process to get some honest answers to help you better manage your small business.
1. Where am I headed? Do I need to rethink this thing? Despite the daily grind, am I as enthusiastic as when I began? Do I spring out of bed every morning, anxious to tackle a new day's activities? Can I expect to retire one day?
2. Am I in the right business? Has the world passed me by? Am I drifting? Does the marketplace adequately support what I'm doing? Should I consider changing my direction? Should I close the door and begin again? What is the market anyway?
3. Can I grow internally? Do I need additional funding to take the next step? Does my business plan support the road I'm taking? Do I need a new business plan? Do I really know and appreciate the value of a business plan?
4. Am I comfortable using the new social media? Do I need to educate myself in the value of social media? Which of the various social media alternatives can best help me in my business? How do I use social media to grow and expand?
This is not a weekly exercise. But it can prove very useful to do a couple of times each year.
Asking these questions in that quiet place will result in an amazing thing. It will focus you on the future of what you're doing. It will help clarify goals. It will bring the long term aspects of your small business to bear on the daily grind.
With answers comes a fresh look. Not necessarily at the time you put yourself through the question and answer period, but at odd times later on. All sorts of ideas will begin to pop into your mind. It's a way to force some organization on the mental processes. It helps you get beyond the daily stresses.
It's good to face the music now and then.
Don't limit your questions to those I've provided. Come up with some of your own. The process will get your mind out of the everyday stuff that can bog you down. It helps you take the long view.
to help you better manage your small business.
To grow your small business, you need to face the music from time to time. Old songs lose their edge. Singing styles change.
The music that moved you in the past can begin to show its age. When this happens, get yourself into a quiet place. Leave behind your phone, television and all the other technological goodies that can distract you.
Ask yourself some honest questions. Start the process to get some honest answers to help you better manage your small business.
1. Where am I headed? Do I need to rethink this thing? Despite the daily grind, am I as enthusiastic as when I began? Do I spring out of bed every morning, anxious to tackle a new day's activities? Can I expect to retire one day?
2. Am I in the right business? Has the world passed me by? Am I drifting? Does the marketplace adequately support what I'm doing? Should I consider changing my direction? Should I close the door and begin again? What is the market anyway?
3. Can I grow internally? Do I need additional funding to take the next step? Does my business plan support the road I'm taking? Do I need a new business plan? Do I really know and appreciate the value of a business plan?
4. Am I comfortable using the new social media? Do I need to educate myself in the value of social media? Which of the various social media alternatives can best help me in my business? How do I use social media to grow and expand?
This is not a weekly exercise. But it can prove very useful to do a couple of times each year.
Asking these questions in that quiet place will result in an amazing thing. It will focus you on the future of what you're doing. It will help clarify goals. It will bring the long term aspects of your small business to bear on the daily grind.
With answers comes a fresh look. Not necessarily at the time you put yourself through the question and answer period, but at odd times later on. All sorts of ideas will begin to pop into your mind. It's a way to force some organization on the mental processes. It helps you get beyond the daily stresses.
It's good to face the music now and then.
Don't limit your questions to those I've provided. Come up with some of your own. The process will get your mind out of the everyday stuff that can bog you down. It helps you take the long view.
Wednesday, January 7, 2015
Business direction
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Businesses change directions all the time. Some of this is business drift--your operation tends to drift in one direction or another. Other times, you deliberately nudge your business in another direction.
Example: A small machine shop had been a family operation for many years. The shop had long ago installed the computer-driven machines to serve customers in aerospace, medical, and other corporate operations. Then along came the 3-D machines that could produce parts in plastics and metals. The machine shop owner was reluctant in the beginning to jump too quickly. But 3-D printing showed the promise of revolutionizing the industry. He installed one of the machines, began training his people, and began turning out useful pieces--some of which could expand the market he served.
This shows how technology can sometimes offer your business an opportunity to make a quantum leap forward. No matter your business, watch for technological improvements that can affect your industry.
Example: Food is always on everyone's mind. Not only must we eat, but today the concern has moved to what we eat. A small farmer can make a good living today growing and selling fresh produce in the local market--I know several who do. One of them is bringing to market a product new to his offerings of a variety of lettuces, spinach, and seasonal vegetables. The new products are the flower buds produced in spring from last year's kale crop. It's fresh, it's kale, it's new--all the elements to excite the marketplace. People use the kale buds in various ways. I would throw them into an omelet--the same can be done with milkweed buds or day lily buds. And a chef can come up with some pricey new dishes to add to the menu.
Think outside the box to come up with ways to change the direction of your business. But exercise care. If you wave goodbye to your present business and set off on new oceans, make certain you can predict and weather the storms ahead.
Changing business direction can be a good thing. New directions beckon all the time. Be careful with business drift, however. You can drift into dead ends.
to help you better manage your small business.
Businesses change directions all the time. Some of this is business drift--your operation tends to drift in one direction or another. Other times, you deliberately nudge your business in another direction.
Example: A small machine shop had been a family operation for many years. The shop had long ago installed the computer-driven machines to serve customers in aerospace, medical, and other corporate operations. Then along came the 3-D machines that could produce parts in plastics and metals. The machine shop owner was reluctant in the beginning to jump too quickly. But 3-D printing showed the promise of revolutionizing the industry. He installed one of the machines, began training his people, and began turning out useful pieces--some of which could expand the market he served.
This shows how technology can sometimes offer your business an opportunity to make a quantum leap forward. No matter your business, watch for technological improvements that can affect your industry.
Example: Food is always on everyone's mind. Not only must we eat, but today the concern has moved to what we eat. A small farmer can make a good living today growing and selling fresh produce in the local market--I know several who do. One of them is bringing to market a product new to his offerings of a variety of lettuces, spinach, and seasonal vegetables. The new products are the flower buds produced in spring from last year's kale crop. It's fresh, it's kale, it's new--all the elements to excite the marketplace. People use the kale buds in various ways. I would throw them into an omelet--the same can be done with milkweed buds or day lily buds. And a chef can come up with some pricey new dishes to add to the menu.
Think outside the box to come up with ways to change the direction of your business. But exercise care. If you wave goodbye to your present business and set off on new oceans, make certain you can predict and weather the storms ahead.
Changing business direction can be a good thing. New directions beckon all the time. Be careful with business drift, however. You can drift into dead ends.
Tuesday, January 6, 2015
Easy business expansions
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Expanding your small business is not hard. It can be downright easy.
Service businesses are almost always easy to expand. You might have already tried several approaches. Keep trying. Keep looking. And remember--what you tried and discarded in the past might be just the thing tomorrow. It can take the world a while to catch up with you.
Example: A small struggling frame shop expands by offering local artists a place to show their works--paintings, photographs, sculptures. Hold an open house, a meet-the-artist event. This can generate lots of community interest, and it's the back door approach to establishing a high end gift shop. The owner might want to go on in that direction. Or, another possibility is for the owner to reach out to the business community--banks, corporations and organizations--offering to rent artworks for display in their lobbies, hallways, offices. This part is not easy to set up (think insurance, security, deliveries). But it can all work together, expanding considerably the reputation of the frame shop.
Build on what you have when thinking of expanding. Keep the core and look for ways to enlarge it. Nudge your operation in a new direction.
Example: A small independent web designer expands his business by offering on-site services. Services at their site. Previously, the web designer did jobs for other very small businesses. His new customers are larger--15 to 50 employees. Now, he helps them set up networks, troubleshoot systems, offers maintenance contracts, and holds training sessions for employees. It was an easy expansion, building on what he already did and with some of the same customers.
When looking for ways to expand, remember that your customer might also be expanding. The needs of your customer's business can change. Are you keeping up with them?
Example: A store that offers healthy foods can easily expand into offering additional lines. The current trends can show the way--no gluten, no sugar, no nuts, no GMO foods are obvious. But have you thought about adding a line of foods for pets? Every one of your customers has a pet. Fresh raw foods for dogs and cats? Cat litter that's more earth-friendly? Booties for dogs?
You might be missing opportunities to do more for more people. Your customers already have needs that are related to what you do. Right now they are calling other businesses to satisfy some of those needs.
Any business can add on-line ordering and free deliveries to locals. And I would happily pay a delivery charge to have cat food delivered when there is snow on the ground.
to help you better manage your small business.
Expanding your small business is not hard. It can be downright easy.
Service businesses are almost always easy to expand. You might have already tried several approaches. Keep trying. Keep looking. And remember--what you tried and discarded in the past might be just the thing tomorrow. It can take the world a while to catch up with you.
Example: A small struggling frame shop expands by offering local artists a place to show their works--paintings, photographs, sculptures. Hold an open house, a meet-the-artist event. This can generate lots of community interest, and it's the back door approach to establishing a high end gift shop. The owner might want to go on in that direction. Or, another possibility is for the owner to reach out to the business community--banks, corporations and organizations--offering to rent artworks for display in their lobbies, hallways, offices. This part is not easy to set up (think insurance, security, deliveries). But it can all work together, expanding considerably the reputation of the frame shop.
Build on what you have when thinking of expanding. Keep the core and look for ways to enlarge it. Nudge your operation in a new direction.
Example: A small independent web designer expands his business by offering on-site services. Services at their site. Previously, the web designer did jobs for other very small businesses. His new customers are larger--15 to 50 employees. Now, he helps them set up networks, troubleshoot systems, offers maintenance contracts, and holds training sessions for employees. It was an easy expansion, building on what he already did and with some of the same customers.
When looking for ways to expand, remember that your customer might also be expanding. The needs of your customer's business can change. Are you keeping up with them?
Example: A store that offers healthy foods can easily expand into offering additional lines. The current trends can show the way--no gluten, no sugar, no nuts, no GMO foods are obvious. But have you thought about adding a line of foods for pets? Every one of your customers has a pet. Fresh raw foods for dogs and cats? Cat litter that's more earth-friendly? Booties for dogs?
You might be missing opportunities to do more for more people. Your customers already have needs that are related to what you do. Right now they are calling other businesses to satisfy some of those needs.
Any business can add on-line ordering and free deliveries to locals. And I would happily pay a delivery charge to have cat food delivered when there is snow on the ground.
Monday, January 5, 2015
OSHA rules
Free daily tips, information, advice, and ideas
to help you better manage and grow your small business.
New OSHA record-keeping and reporting rules took effect Jan. 1, 2015. If your business had 10 or fewer employees during the calendar year 2014, you are exempt from the new record-keeping rules.
The Occupational Safety and Health administration has also revised the list of industries that are now covered. More have been added, among them, bakeries, auto dealers, specialty food stores, store retailers, building materials and supplies dealers, health care services, performing arts companies, beer, wine and liquor stores, professional services, and many more. The full list is at OSHA.gov.
OSHA has also expanded the list of work-related injuries that must be reported. All injuries, including work-related fatalities, must continue to be reported within 8 hours. Added is "the requirement to report all work-related in-patient hospitalizations, amputations and loss of an eye within 24 hours."
Further, if your state operates its own safety and health programs, check your state for the implementation date--it might be much later in this year. Detailed listings by state are at the OSHA.gov website. Note also that record-keeping and reporting are two separate requirements. Don't confuse the two.
This is written as an alert to operators of small businesses. For the actual requirements and more information, see the OSHA.gov website.
The good intentions that put bureaucracies in place can frequently choke the animal they are sent to control. I venture to say that no one--NO ONE--has ever read all the rules that are in place in all the federal bureaucracies, much less the actual laws that Congress put in place that resulted in all the rules.
to help you better manage and grow your small business.
New OSHA record-keeping and reporting rules took effect Jan. 1, 2015. If your business had 10 or fewer employees during the calendar year 2014, you are exempt from the new record-keeping rules.
The Occupational Safety and Health administration has also revised the list of industries that are now covered. More have been added, among them, bakeries, auto dealers, specialty food stores, store retailers, building materials and supplies dealers, health care services, performing arts companies, beer, wine and liquor stores, professional services, and many more. The full list is at OSHA.gov.
OSHA has also expanded the list of work-related injuries that must be reported. All injuries, including work-related fatalities, must continue to be reported within 8 hours. Added is "the requirement to report all work-related in-patient hospitalizations, amputations and loss of an eye within 24 hours."
Further, if your state operates its own safety and health programs, check your state for the implementation date--it might be much later in this year. Detailed listings by state are at the OSHA.gov website. Note also that record-keeping and reporting are two separate requirements. Don't confuse the two.
This is written as an alert to operators of small businesses. For the actual requirements and more information, see the OSHA.gov website.
The good intentions that put bureaucracies in place can frequently choke the animal they are sent to control. I venture to say that no one--NO ONE--has ever read all the rules that are in place in all the federal bureaucracies, much less the actual laws that Congress put in place that resulted in all the rules.
Friday, January 2, 2015
Voice mail problems
Free daily tips, information, advice, and ideas
to help you better manage your small business
Voice mail is a convenience in personal communications. No one wants to miss what mom has to say when she calls.
But in business, voice mail is a frustration. You don't call a business to chat. You call because you want to order something or you have a problem that needs attention.
Example: Cheryl was frequently busy when the phone rang in her small pet supply store. Incoming stock had to be unpacked and put on the shelves, and inventory had to be taken. So she let the caller go to voice mail. Click. The caller was gone. Little did Cheryl know at the time that the caller was new in town and was calling to know if Cheryl stocked flea baths for the caller's five pets. Cheryl missed the opportunity to speak with a new customer, welcome them to the neighborhood, and add them to her customer lists.
When calling a big company, you are frequently shuttled off into an automated system. Some computer geek has programmed answers to all the questions he could think of. But your question is not among them and you are left hanging, more frustrated than before. You finally get a live person on the line who is reading from a prepared script. You give up.
Studies show that more and more callers who are shunted to voice mail simply hang up. I recently saw one statistic that put the number of hang-ups at over 75%.
Big companies are taking note of this phenomenon by--you guessed it--putting more automated systems in place. Well, that simply creates new problems for big companies.
Owners of small businesses don't have the staff or the money or the technological prowess to automate everything. They simply answer the ringing phone, talk through a customer's concerns, and solve the problem.
It doesn't take a genius to know what works best. It's another way that small business can run circles around the big guys--for the time being. Or at least until the big guys figure out the artificial intelligence game and hit us with the next wave of automated answers.
Voice mail can be a wonderful thing--especially when the business is closed during off hours. Just make certain that you use voice mail for the convenience of the caller, not your own convenience.
to help you better manage your small business
Voice mail is a convenience in personal communications. No one wants to miss what mom has to say when she calls.
But in business, voice mail is a frustration. You don't call a business to chat. You call because you want to order something or you have a problem that needs attention.
Example: Cheryl was frequently busy when the phone rang in her small pet supply store. Incoming stock had to be unpacked and put on the shelves, and inventory had to be taken. So she let the caller go to voice mail. Click. The caller was gone. Little did Cheryl know at the time that the caller was new in town and was calling to know if Cheryl stocked flea baths for the caller's five pets. Cheryl missed the opportunity to speak with a new customer, welcome them to the neighborhood, and add them to her customer lists.
When calling a big company, you are frequently shuttled off into an automated system. Some computer geek has programmed answers to all the questions he could think of. But your question is not among them and you are left hanging, more frustrated than before. You finally get a live person on the line who is reading from a prepared script. You give up.
Studies show that more and more callers who are shunted to voice mail simply hang up. I recently saw one statistic that put the number of hang-ups at over 75%.
Big companies are taking note of this phenomenon by--you guessed it--putting more automated systems in place. Well, that simply creates new problems for big companies.
Owners of small businesses don't have the staff or the money or the technological prowess to automate everything. They simply answer the ringing phone, talk through a customer's concerns, and solve the problem.
It doesn't take a genius to know what works best. It's another way that small business can run circles around the big guys--for the time being. Or at least until the big guys figure out the artificial intelligence game and hit us with the next wave of automated answers.
Voice mail can be a wonderful thing--especially when the business is closed during off hours. Just make certain that you use voice mail for the convenience of the caller, not your own convenience.
Thursday, January 1, 2015
Talking heads
Free daily tips, information, advice, and ideas
to help you grow your small business.
You get lots of advice when you run a small business. You don't have to ask for it. Your neighbors, friends, even your golf partners feel compelled to advise you on business matters.
It doesn't seem to bother these people that they have never actually operated a business. They are suddenly anxious to share their thoughts.
Example: When I was starting a business many years ago, an accountant friend advised me to wait. It was the 1970s and the national economy was pretty bad. "Wait a few years, until the economy turns around," he advised. I ignored his advice, and established a business that was to last more than 25 years. Eventually, he became the company's accountant, and we had some laughs remembering the advice he gave me.
Don't misunderstand this example. His advice was sound insofar as it went. It represented an approach that he would have taken. The thing that was missing was my determination, my mindset, and my seeing a market opportunity that was just opening up.
Always listen to advice, no matter who offers it. Sometimes there is a nugget of insight that you might have missed. And always, there is a different point of view that might trigger a valuable new thought. Then, and only then, do you discard the advice.
A good idea is where you find it. Sometimes in the past, as the talking head was going on about what I should be doing, a completely different approach popped into my mind. Had I not listened to the fluff being offered as advice, I might never have had the valuable new thought.
I've used these types of conversations to inject a leading question or two. I wasn't looking for the person's explanation, but, rather, I was looking for an idea with a fresh face. Sometimes, this can work.
Example: Bill advised Mary to close her small gift store because her income barely matched her expenses. "How do you see the community changing?" she asked him. "New people are coming in," he said. "They work at different jobs, they have different ideas about decorating," Bill told her. And that was when she saw clearly how she could transform her gift shop into an upscale operation, offering one-of-a-kind works of artists and artisans. This new crowd was changing the face of the town, and Mary in a flash took her dream to the next level.
Always listen politely to the talking heads who offer advice. You might be able to uncover the gem of an idea in what they say. Or it might trigger a different thought of your own.
However, when you go looking for good advice on the operation of your business, look to someone who has been there, done that. It might work, it might not. But at least you know it comes from the fires of experience.
Talking heads are everywhere. Some are a waste of time, others can prove valuable. And some might lead you to think about your business in a completely different way.
to help you grow your small business.
You get lots of advice when you run a small business. You don't have to ask for it. Your neighbors, friends, even your golf partners feel compelled to advise you on business matters.
It doesn't seem to bother these people that they have never actually operated a business. They are suddenly anxious to share their thoughts.
Example: When I was starting a business many years ago, an accountant friend advised me to wait. It was the 1970s and the national economy was pretty bad. "Wait a few years, until the economy turns around," he advised. I ignored his advice, and established a business that was to last more than 25 years. Eventually, he became the company's accountant, and we had some laughs remembering the advice he gave me.
Don't misunderstand this example. His advice was sound insofar as it went. It represented an approach that he would have taken. The thing that was missing was my determination, my mindset, and my seeing a market opportunity that was just opening up.
Always listen to advice, no matter who offers it. Sometimes there is a nugget of insight that you might have missed. And always, there is a different point of view that might trigger a valuable new thought. Then, and only then, do you discard the advice.
A good idea is where you find it. Sometimes in the past, as the talking head was going on about what I should be doing, a completely different approach popped into my mind. Had I not listened to the fluff being offered as advice, I might never have had the valuable new thought.
I've used these types of conversations to inject a leading question or two. I wasn't looking for the person's explanation, but, rather, I was looking for an idea with a fresh face. Sometimes, this can work.
Example: Bill advised Mary to close her small gift store because her income barely matched her expenses. "How do you see the community changing?" she asked him. "New people are coming in," he said. "They work at different jobs, they have different ideas about decorating," Bill told her. And that was when she saw clearly how she could transform her gift shop into an upscale operation, offering one-of-a-kind works of artists and artisans. This new crowd was changing the face of the town, and Mary in a flash took her dream to the next level.
Always listen politely to the talking heads who offer advice. You might be able to uncover the gem of an idea in what they say. Or it might trigger a different thought of your own.
However, when you go looking for good advice on the operation of your business, look to someone who has been there, done that. It might work, it might not. But at least you know it comes from the fires of experience.
Talking heads are everywhere. Some are a waste of time, others can prove valuable. And some might lead you to think about your business in a completely different way.
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