Free daily tips, information and advice for people in small business
from my lifetime of experience founding and growing several small businesses.
The trust your customers place in you is extremely important. Trust is a 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 when I started my first business.
Example: My first business was a graphic arts firm located in downtown Manhattan. My customers were brokerage firms, banks and insurance companies. These people wanted a supplier who could deliver art work and printed materials--on time and without errors. On my end, meeting difficult deadlines meant having reliable employees, the latest equipment, and setting up a 24-hour operation. With every job, we built customer trust. And the word spread throughout the Wall Street community.
In every business, large or small, delivering what the customer wants is critical to building a trusting relationship. When you drop the ball, you run the risk of losing the customer.
The baker who delivers the wedding cake late has lost a customer. The landscaper who plants hostas instead of daylilies has lost a customer. The attorney who drags out the process of drawing up a will has lost a customer. The financial planner who misses big trends in the market has lost a customer.
Think about it. Bad news travels faster than good. When you betray a customer's trust, you've lost that customer. More importantly, you've lost all the referrals he might have brought you.
Keep it positive. Keep it right. And keep it on time. This keeps the focus on building trust.
After a lifetime in business, I spend my time nowadays writing and coaching people in small business. I'll gladly answer your questions at no charge--email me at AlWarr16@gmail.com and put BLOG in the subject line (so I don't delete). Your privacy is always respected.
Friday, June 20, 2014
Thursday, June 19, 2014
Voice mail
Free daily tips, information and advice for people in small business
from my lifetime of experience founding and growing small businesses.
Voice mail can give you a clue as to the age of your callers. Older callers usually leave a message on your voice mail. Not so with the younger set--I'm talking teens and twenties here. They simply hang up.
Voice mail is a useful tool in business--particularly in small business. Frequently, a small business can be one person. Think beginning plumbers, electricians, landscapers, pet groomers, chiropractors, therapists, and the list goes on.
A specialist needs to be doing the jobs that will bring in the cash flow. Voice mail helps small businesses organize time. The distractions of ringing telephones can be compressed into voice mail messages, and these can be tended to at a time more convenient to the business owner.
Therein lies the problem.
Example: I write a weekly business column for a local newspaper. The column is informational, directed to the general public, and introduces readers to a few of the thousands of small businesses in the area.To do the groundwork, I talk with a dozen or so people in different small businesses every week. Frequently, my call goes directly to voice mail. I identify myself, referencing the weekly column I'm writing. I say that I'm not selling anything, rather it's free publicity for their business. And I give a 2 or 3-day deadline for a callback. About half the time I get a callback before the deadline. Others have called me back a week or so later. And a few are never heard from.
When potential customers or clients call a business, they expect a live voice to answer. Leaving a voice mail is an inconvenience to the customer or client. The teens and twenty-somethings have figured this out--and they just hang up.
After a lifetime founding and growing small businesses, I retired. Nowadays, I spend my time writing about business and coaching small-business people. If you have questions, email me for a free, quick answers: AlWarr16@mail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
from my lifetime of experience founding and growing small businesses.
Voice mail can give you a clue as to the age of your callers. Older callers usually leave a message on your voice mail. Not so with the younger set--I'm talking teens and twenties here. They simply hang up.
Voice mail is a useful tool in business--particularly in small business. Frequently, a small business can be one person. Think beginning plumbers, electricians, landscapers, pet groomers, chiropractors, therapists, and the list goes on.
A specialist needs to be doing the jobs that will bring in the cash flow. Voice mail helps small businesses organize time. The distractions of ringing telephones can be compressed into voice mail messages, and these can be tended to at a time more convenient to the business owner.
Therein lies the problem.
Example: I write a weekly business column for a local newspaper. The column is informational, directed to the general public, and introduces readers to a few of the thousands of small businesses in the area.To do the groundwork, I talk with a dozen or so people in different small businesses every week. Frequently, my call goes directly to voice mail. I identify myself, referencing the weekly column I'm writing. I say that I'm not selling anything, rather it's free publicity for their business. And I give a 2 or 3-day deadline for a callback. About half the time I get a callback before the deadline. Others have called me back a week or so later. And a few are never heard from.
When potential customers or clients call a business, they expect a live voice to answer. Leaving a voice mail is an inconvenience to the customer or client. The teens and twenty-somethings have figured this out--and they just hang up.
After a lifetime founding and growing small businesses, I retired. Nowadays, I spend my time writing about business and coaching small-business people. If you have questions, email me for a free, quick answers: AlWarr16@mail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Wednesday, June 18, 2014
Credit cards
Free daily tips, information and advice for people in small business
from someone who has been there, done that in several operations.
One of the great inventions of the 20th century was the credit card. It freed people from carrying cash needed for daily expenses.
I first heard of credit cards when I was in college. That was the mid-1950s, and at that time, credit cards were largely a future possibility, an experiment yet to happen.
Later, issuance and use became widespread. Everybody seemed to suddenly have a credit card--or multiple credit cards. Customers used them to buy goods and services, and small businesses discovered the ease of getting loans by using their credit cards.
Example: Mary wanted to start up a pet supply store. She had good credit, and she had several credit cards. She charged everything to get the store open--stock, supplies, even the sign out front. Suddenly, Mary was at the limit on two of her credit cards. No problem, she thought, as she wrote a large check to herself on a third credit card. The scheme quickly unraveled. The cash flow from the traffic in her new store did not support payments to the credit cards. She found herself in a downward spiral--unable to keep up with even minimum payments. She blamed the credit card companies rather than herself.
Just about everyone I know in small business has used credit cards to bridge temporary shortages of funds. It's a quick and easy way to provide small amounts of funds.
But you are putting your reputation on the line. You are putting a debt in place, and it must be repaid. It is a loan, and the loan carries interest--significantly high interest.
If you are only making minimum payments every month on your credit cards, you are headed for trouble. Most of your payment goes to satisfy the interest charged by the company that was good enough to trust you in the first place. Don't blame them. They helped you in good faith.
Stop using the card and begin making payments amounting to more than the minimum. Soon, you will be in position to use the credit card again--when it's really needed.
I don't know what happened to Mary and her pet supply store. The last time I looked, the store was closed and empty.
My daily blog has free tips, information, and advice for small-business people. Send me your questions and comments to AlWarr16@gmail.com and put BLOG in the subject line. Your privacy is always respected.
from someone who has been there, done that in several operations.
One of the great inventions of the 20th century was the credit card. It freed people from carrying cash needed for daily expenses.
I first heard of credit cards when I was in college. That was the mid-1950s, and at that time, credit cards were largely a future possibility, an experiment yet to happen.
Later, issuance and use became widespread. Everybody seemed to suddenly have a credit card--or multiple credit cards. Customers used them to buy goods and services, and small businesses discovered the ease of getting loans by using their credit cards.
Example: Mary wanted to start up a pet supply store. She had good credit, and she had several credit cards. She charged everything to get the store open--stock, supplies, even the sign out front. Suddenly, Mary was at the limit on two of her credit cards. No problem, she thought, as she wrote a large check to herself on a third credit card. The scheme quickly unraveled. The cash flow from the traffic in her new store did not support payments to the credit cards. She found herself in a downward spiral--unable to keep up with even minimum payments. She blamed the credit card companies rather than herself.
Just about everyone I know in small business has used credit cards to bridge temporary shortages of funds. It's a quick and easy way to provide small amounts of funds.
But you are putting your reputation on the line. You are putting a debt in place, and it must be repaid. It is a loan, and the loan carries interest--significantly high interest.
If you are only making minimum payments every month on your credit cards, you are headed for trouble. Most of your payment goes to satisfy the interest charged by the company that was good enough to trust you in the first place. Don't blame them. They helped you in good faith.
Stop using the card and begin making payments amounting to more than the minimum. Soon, you will be in position to use the credit card again--when it's really needed.
I don't know what happened to Mary and her pet supply store. The last time I looked, the store was closed and empty.
My daily blog has free tips, information, and advice for small-business people. Send me your questions and comments to AlWarr16@gmail.com and put BLOG in the subject line. Your privacy is always respected.
Tuesday, June 17, 2014
Business coach
Free daily tips, information and advice for people in small business
from someone who has been there, done that in running small businesses.
Every person running a small business needs help. The problems are many, and the solutions are few.
Many give you advice--your accountant, your brother-in-law, and those you meet along the way. Most of the time, their advice is useless.
This is perfectly understandable. Most of these people have never run a business. They come at you from a different perspective.
Example: Margie runs a women's clothing boutique. She stays on top of the latest styles and fashions. Her shop attracts women in business and other high-income women. When the economy took a downturn, Margie's cousin advised adding some lower-priced women's clothing and accessories. The cousin had no experience running a business. Margie had toyed with the idea (which had already occurred to her) and discarded it. She wanted to maintain her brand, her reputation, and her presence in the high-end community. There were some rough times when cash flow decreased, but she kept to her vision. As the economy picked up, Margie experienced an increase in traffic flow and referrals.
In my opinion, Margie followed the correct path. I have advised and coached hundreds of small businesses. My coaching has covered many economic downturns, and I always advise riding out bad times--they will turn around. If your vision coincides with a certain market segment, you don't want to change that for the sake of temporary cash flow.
Example: Bob ran a very successful video rental shop for many years. As technology changed, the market changed. His accountant suggested that Bob raise his prices to maintain cash flow. This might work in certain businesses at certain times. But in Bob's case, he kept thinking about the changing technological landscape. It was not price, but the market that would save him. He decided that his future would best be served by his changing directions. He sold his video rental shop. Today, Bob runs a successful small business putting anything his customers want onto DVDs.
In my opinion, Bob was correct in ending his old business and starting another. He is now serving a market that is more targeted and in keeping with the changing world.
Coaching a business involves more than just adjusting to current conditions. Ideas--no matter where they come from--are valuable. But it behooves small business to be able to ride the ups and downs of the economy and to be able to stay on top of technological change.
My coaching activities take into account the whole business. Your business is a ship floating on an ocean of possibilities, and it must weather all the storms.
I answer your simple questions at no charge. Simply email me at AlWarr16@gmail.com. If you want me to coach you through rough times, email me. When you email, put BLOG in the subject line so I don't delete your request along with the dozens of emails I get every day trying to sell me something. At this point in my life, I have more than 60 years experience in business.
from someone who has been there, done that in running small businesses.
Every person running a small business needs help. The problems are many, and the solutions are few.
Many give you advice--your accountant, your brother-in-law, and those you meet along the way. Most of the time, their advice is useless.
This is perfectly understandable. Most of these people have never run a business. They come at you from a different perspective.
Example: Margie runs a women's clothing boutique. She stays on top of the latest styles and fashions. Her shop attracts women in business and other high-income women. When the economy took a downturn, Margie's cousin advised adding some lower-priced women's clothing and accessories. The cousin had no experience running a business. Margie had toyed with the idea (which had already occurred to her) and discarded it. She wanted to maintain her brand, her reputation, and her presence in the high-end community. There were some rough times when cash flow decreased, but she kept to her vision. As the economy picked up, Margie experienced an increase in traffic flow and referrals.
In my opinion, Margie followed the correct path. I have advised and coached hundreds of small businesses. My coaching has covered many economic downturns, and I always advise riding out bad times--they will turn around. If your vision coincides with a certain market segment, you don't want to change that for the sake of temporary cash flow.
Example: Bob ran a very successful video rental shop for many years. As technology changed, the market changed. His accountant suggested that Bob raise his prices to maintain cash flow. This might work in certain businesses at certain times. But in Bob's case, he kept thinking about the changing technological landscape. It was not price, but the market that would save him. He decided that his future would best be served by his changing directions. He sold his video rental shop. Today, Bob runs a successful small business putting anything his customers want onto DVDs.
In my opinion, Bob was correct in ending his old business and starting another. He is now serving a market that is more targeted and in keeping with the changing world.
Coaching a business involves more than just adjusting to current conditions. Ideas--no matter where they come from--are valuable. But it behooves small business to be able to ride the ups and downs of the economy and to be able to stay on top of technological change.
My coaching activities take into account the whole business. Your business is a ship floating on an ocean of possibilities, and it must weather all the storms.
I answer your simple questions at no charge. Simply email me at AlWarr16@gmail.com. If you want me to coach you through rough times, email me. When you email, put BLOG in the subject line so I don't delete your request along with the dozens of emails I get every day trying to sell me something. At this point in my life, I have more than 60 years experience in business.
Monday, June 16, 2014
Business friends
Free daily tips, information and advice for people in small business
from an experienced business owner--been there, done that.
People who start a small 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 someone who trusts you to provide certain goods and services. They feel that you have integrity, but 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" the person, and she treats them accordingly. She brings her attitude problem into the business. Many people don't return, and the business suffers. People who enter her shop don't arrive looking for a personal friend. They were attracted by something they saw in the window, and they expect to be treated with respect.
Example: Another small business provides home improvements. The operation is run by a man with well-rounded experience in carpentry, painting, and tackling those small jobs around the house--hanging a door, re-glazing an old window, repairing tile work. His estimates are free, but when he arrives at the homeowner's place, he sometimes leaves without even knocking. He explained to me once that, if he has a bad first impression, he won't even meet the person or estimate the job. For reasons that are purely personal, he decides upfront whether or not he wants to deal with this person. If there are signs of neglect or if there is an old car in the driveway, he moves on.
You can run your own business any way you like, providing it is lawful. But setting up to serve only people you would consider personal friends severely limits the business future. A business experiences best growth by setting up to serve business friends.
Business friends appreciate your professionalism and will refer others to you. Personal friends have other agendas.
Retired now after a lifetime founding, expanding and growing businesses, I write this blog to share my knowledge and experience with others in small business. If you have questions, email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Quick answers, no charge and your privacy is always respected.
from an experienced business owner--been there, done that.
People who start a small 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 someone who trusts you to provide certain goods and services. They feel that you have integrity, but 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" the person, and she treats them accordingly. She brings her attitude problem into the business. Many people don't return, and the business suffers. People who enter her shop don't arrive looking for a personal friend. They were attracted by something they saw in the window, and they expect to be treated with respect.
Example: Another small business provides home improvements. The operation is run by a man with well-rounded experience in carpentry, painting, and tackling those small jobs around the house--hanging a door, re-glazing an old window, repairing tile work. His estimates are free, but when he arrives at the homeowner's place, he sometimes leaves without even knocking. He explained to me once that, if he has a bad first impression, he won't even meet the person or estimate the job. For reasons that are purely personal, he decides upfront whether or not he wants to deal with this person. If there are signs of neglect or if there is an old car in the driveway, he moves on.
You can run your own business any way you like, providing it is lawful. But setting up to serve only people you would consider personal friends severely limits the business future. A business experiences best growth by setting up to serve business friends.
Business friends appreciate your professionalism and will refer others to you. Personal friends have other agendas.
Retired now after a lifetime founding, expanding and growing businesses, I write this blog to share my knowledge and experience with others in small business. If you have questions, email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Quick answers, no charge and your privacy is always respected.
Friday, June 13, 2014
What business?
Free daily tips, information and advice for people in small business
from someone who has been there, done that in several small businesses.
Many people have asked for my advice about business. They want to talk with someone who has run a business. Sometimes a quick discussion with an experienced person can trigger answers to problems.
That's for people who are running a business.
Others have asked for advice about starting a business. These budding entrepreneurs want to go into business, but what business? I've always advised them to look in the mirror.
When you run a business, it's 24/7. Juggling all the pieces takes your total attention and effort. If you love what you do, you don't mind the grind. If you do NOT love what you do, you're setting yourself up for failure--or worse, a heart attack.
Examples: Straightforward businesses can be set up built around your interests. I know many small businesses that have been built around the owner's interest in music. Some remain one-person affairs, like the local piano teacher. Another used his knowledge of the guitar to begin by teaching others, and then he expanded into his own shop--selling new and used instruments, repairing and stringing, etc.
A compelling interest in sailing led a man to the establishment of a sail shop. The owner loved sailing and spent lots of time on the local lake. He set up a sail shop with all things boating and offered sailing lessons to others. Now certified, he instructs groups on water safety, and he sells sailboats and supplies.
Many businesses I know began life as one person operations. The arts and crafts field offers many opportunities for getting a small business off the ground. I know small businesses built around beads and beading, fibers and wools, painting and pottery, wood turning, basketry, quilting, glass, metal work--the list is endless. Shops, studios, and Internet sites offer the artisan's productions, as well as opportunities to expand by teaching others.
Deciding what business to go into can be frustrating. Yet it is simple. It's similar to the complaint heard from young people--I don't have the experience to get the job, but I can't get the experience without having the job.
Look inside. Start with what you know and love doing, and take it from there. Then you have options--keep your one-person business or expand it into something larger.
For ten years I headed up the Business Owners Institute in New Jersey. Before that, I spent 20 years founding and operating businesses in typesetting, printing, publishing, real estate, antique glass, and other endeavors. Today, I advise, coach and write about business. You can email me your questions for quick, free answers. Send to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete.
from someone who has been there, done that in several small businesses.
Many people have asked for my advice about business. They want to talk with someone who has run a business. Sometimes a quick discussion with an experienced person can trigger answers to problems.
That's for people who are running a business.
Others have asked for advice about starting a business. These budding entrepreneurs want to go into business, but what business? I've always advised them to look in the mirror.
When you run a business, it's 24/7. Juggling all the pieces takes your total attention and effort. If you love what you do, you don't mind the grind. If you do NOT love what you do, you're setting yourself up for failure--or worse, a heart attack.
Examples: Straightforward businesses can be set up built around your interests. I know many small businesses that have been built around the owner's interest in music. Some remain one-person affairs, like the local piano teacher. Another used his knowledge of the guitar to begin by teaching others, and then he expanded into his own shop--selling new and used instruments, repairing and stringing, etc.
A compelling interest in sailing led a man to the establishment of a sail shop. The owner loved sailing and spent lots of time on the local lake. He set up a sail shop with all things boating and offered sailing lessons to others. Now certified, he instructs groups on water safety, and he sells sailboats and supplies.
Many businesses I know began life as one person operations. The arts and crafts field offers many opportunities for getting a small business off the ground. I know small businesses built around beads and beading, fibers and wools, painting and pottery, wood turning, basketry, quilting, glass, metal work--the list is endless. Shops, studios, and Internet sites offer the artisan's productions, as well as opportunities to expand by teaching others.
Deciding what business to go into can be frustrating. Yet it is simple. It's similar to the complaint heard from young people--I don't have the experience to get the job, but I can't get the experience without having the job.
Look inside. Start with what you know and love doing, and take it from there. Then you have options--keep your one-person business or expand it into something larger.
For ten years I headed up the Business Owners Institute in New Jersey. Before that, I spent 20 years founding and operating businesses in typesetting, printing, publishing, real estate, antique glass, and other endeavors. Today, I advise, coach and write about business. You can email me your questions for quick, free answers. Send to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete.
Thursday, June 12, 2014
Ice cream
Free daily tips, information and advice for people in small business
from someone who has been there, done that in several small operations.
Ice cream has intrigued me for longer than I can remember. And my memory goes back more than 75 years.
Something about all that creamy, cold sweetness calls to me. It's difficult to walk past an ice cream shop--without lingering for a cone. So many flavors, so little time.
Long ago, businesses large and small discovered the market for ice cream. Brands like Baskin Robbins, Carvel, Rita's, and Dairy Queen became familiar. Franchise operations expanded the market as the original hard ice cream was rounded out with related goodies.
Today, popular ice cream shops are likely to be single-store affairs. They concentrate on unusual flavors, locally-available ingredients, and other enticements.
Example: A recently-opened ice cream shop in my area offers several small-batch flavors--all made on the premises. Some of these are cilantro, hot peppers, dark chocolate, kale and pomegranate. It's a small, intimate place, plus tables outside on the tree-lined sidewalk. Customers can get gluten-free cones or waffles, or they take home hand-dipped containers. Clearly, this shop appeals to an up-scale, health-conscious crowd--there's even fat-free and sugar-free selections.
Example: Another shop recreates the vintage ice cream parlor. It's an inviting place with a long counter and stools. Black and white tiles cover the floor and stainless steel is everywhere. This place offers many flavors of ice cream. But it offers much more. There is a big back room that gets lots of use. Two evenings each week, movies are shown in the big back room. Patrons can schedule private parties on the other evenings. During the day, the room is home to week-long summer camps for kids. They are entertained with games, arts and crafts, ice cream and more while their mothers do other things--mornings, afternoons, or both.
Example: Still another area ice cream shop has partnered with a local bookshop. The bookshop takes advantage of the ice cream shop's space and schedules author's signings and readings there. Both businesses realize advantages.
The business of ice cream has come a long way.
After college, I went into business. That was 1960. Over the years I have founded, operated and expanded several businesses. These included typesetting, printing, publishing, real estate, antique glass, and establishing the Business Owners Institute in New Jersey. Over a lifetime, I have coached and helped over 2,000 small businesses. Email your questions to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. I answer everyone, and I respect your privacy.
from someone who has been there, done that in several small operations.
Ice cream has intrigued me for longer than I can remember. And my memory goes back more than 75 years.
Something about all that creamy, cold sweetness calls to me. It's difficult to walk past an ice cream shop--without lingering for a cone. So many flavors, so little time.
Long ago, businesses large and small discovered the market for ice cream. Brands like Baskin Robbins, Carvel, Rita's, and Dairy Queen became familiar. Franchise operations expanded the market as the original hard ice cream was rounded out with related goodies.
Today, popular ice cream shops are likely to be single-store affairs. They concentrate on unusual flavors, locally-available ingredients, and other enticements.
Example: A recently-opened ice cream shop in my area offers several small-batch flavors--all made on the premises. Some of these are cilantro, hot peppers, dark chocolate, kale and pomegranate. It's a small, intimate place, plus tables outside on the tree-lined sidewalk. Customers can get gluten-free cones or waffles, or they take home hand-dipped containers. Clearly, this shop appeals to an up-scale, health-conscious crowd--there's even fat-free and sugar-free selections.
Example: Another shop recreates the vintage ice cream parlor. It's an inviting place with a long counter and stools. Black and white tiles cover the floor and stainless steel is everywhere. This place offers many flavors of ice cream. But it offers much more. There is a big back room that gets lots of use. Two evenings each week, movies are shown in the big back room. Patrons can schedule private parties on the other evenings. During the day, the room is home to week-long summer camps for kids. They are entertained with games, arts and crafts, ice cream and more while their mothers do other things--mornings, afternoons, or both.
Example: Still another area ice cream shop has partnered with a local bookshop. The bookshop takes advantage of the ice cream shop's space and schedules author's signings and readings there. Both businesses realize advantages.
The business of ice cream has come a long way.
After college, I went into business. That was 1960. Over the years I have founded, operated and expanded several businesses. These included typesetting, printing, publishing, real estate, antique glass, and establishing the Business Owners Institute in New Jersey. Over a lifetime, I have coached and helped over 2,000 small businesses. Email your questions to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. I answer everyone, and I respect your privacy.
Subscribe to:
Posts (Atom)