Free daily tips, information and advice for people in small business
from my lifetime in business--been there, done that.
I am often asked for advice. Emails arrive telling me about a problem and asking for possible solutions.
My answers are quick, to the point, and free. Sometimes, just by reaching out to an experienced business person, the business owner can clarify his/her own thinking and proceed with a certain confidence not otherwise possible.
Example: A lady once asked me how she could increase her sales in her small pet supply store. When I asked her what she was doing to promote her place, the answer came back: ads every week in the local paper. I suggested she set up a Facebook page, post pictures of pets, and start reaching out. "But I don't sell pets," she objected. "And I know nothing about Facebook." Later, she realized how easy it was to attract attention with pictures of puppies and kittens, and she emailed me back that sales had more than doubled--in a relatively short period of time. Hers had been a simple question, and it was solved with a simple answer.
Everyone has had the experience of talking about problems with others. The more personal the problem, the more reluctant we become in discussing it. We look for a trusted friend or expert.
Owners of small businesses face this problem in seeking advice on business problems. You need to talk with someone who has "been there, done that" and can relate to the overall problems of running a business.
Example: A young man once asked what business he could go into. He wanted to go into business, but he was perplexed as to the type of business he should pursue. In a quick back-and-forth, I helped him realize that he already had the answer. "Look inside," I told him. "Find the thing you are most passionate about and set up your business around that idea." Today, he owns a small construction company--he builds additions to homes and occasionally whole houses. His passion of building things has become his business.
A business can be set up using any idea. Of course, some ideas are bigger than others. But the market is big enough in this country to accommodate any idea you might be passionate about. If you are interested in something, others are interested as well. It's a matter of finding them.
The same is true of expanding your business. The marketplace rules. Expand in the direction the market is moving. And always seek advice from someone who has actually run a business.
I've spent a lifetime in business--establishing, operating, expanding. I know what cash flow feels like when there isn't any. Email me your questions: AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. At this point, I've helped thousands of business owners. Get free answers to your questions, and I always respect your privacy.
Wednesday, June 25, 2014
Tuesday, June 24, 2014
Percent off
Free daily tips, information and advice for people in small business
from personal experience--been there, done that--in my own small businesses as well as helping
thousands of others over a lifetime.
Retail shops commonly offer sales. A sale attracts attention and brings in customers.
Two very different methods are used. "Dollars off" and "percent off" types of promotions can get new people to notice your business, and they remind existing customers who you are.
Example: The owner of a small retail shop decided to put everything (with few exceptions) on sale at 20% off the marked prices. The shop specialized in women's fashionable clothing and accessories. The sale did not go as well as the owner had expected, and I was asked for advice. I suggested a different method--put the word out that certain items were marked down set dollar amounts, $10, $20 or as much as $50 off on selected items. This time the sale went much better.
Sometimes, it is better to offer real dollars off as opposed to percentages off. Both work, but a set dollar amount off has an immediate psychological effect in customers' minds.
Example: A small auto repair shop I know uses both methods in tandem. The owner here uses coupons. Side by side, coupons offer $10 off an oil change and 10% off other auto services. Coupons are available in print (ads, flyers, post cards) and on the Internet (social media, emails, website). The $10 off coupon brings people to the shop, and the 10% brings them back again.
It's all about the perception created in the minds of current and potential customers. It's hard to ignore that $10 bill you find laying on the sidewalk--you bend over and pick it up. Not so with percent off.
The next time you consider having a sale at your business, try the "dollars off" type of promotion. And don't ignore the value of coupons with a "dollars off" value--they get used or they get passed around to other people.
Still active after a lifetime founding and growing businesses, and helping others. Email me your questions and I provide free answers from my experience working with thousands of small businesses. Send to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
from personal experience--been there, done that--in my own small businesses as well as helping
thousands of others over a lifetime.
Retail shops commonly offer sales. A sale attracts attention and brings in customers.
Two very different methods are used. "Dollars off" and "percent off" types of promotions can get new people to notice your business, and they remind existing customers who you are.
Example: The owner of a small retail shop decided to put everything (with few exceptions) on sale at 20% off the marked prices. The shop specialized in women's fashionable clothing and accessories. The sale did not go as well as the owner had expected, and I was asked for advice. I suggested a different method--put the word out that certain items were marked down set dollar amounts, $10, $20 or as much as $50 off on selected items. This time the sale went much better.
Sometimes, it is better to offer real dollars off as opposed to percentages off. Both work, but a set dollar amount off has an immediate psychological effect in customers' minds.
Example: A small auto repair shop I know uses both methods in tandem. The owner here uses coupons. Side by side, coupons offer $10 off an oil change and 10% off other auto services. Coupons are available in print (ads, flyers, post cards) and on the Internet (social media, emails, website). The $10 off coupon brings people to the shop, and the 10% brings them back again.
It's all about the perception created in the minds of current and potential customers. It's hard to ignore that $10 bill you find laying on the sidewalk--you bend over and pick it up. Not so with percent off.
The next time you consider having a sale at your business, try the "dollars off" type of promotion. And don't ignore the value of coupons with a "dollars off" value--they get used or they get passed around to other people.
Still active after a lifetime founding and growing businesses, and helping others. Email me your questions and I provide free answers from my experience working with thousands of small businesses. Send to AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Monday, June 23, 2014
Shoot the moon
Free daily tips, information and advice for people in small business
from my personal experience--been there, done that--in my own businesses and helping others.
Technology 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. And you don't have to be a rocket scientist to take advantage of our galloping technology.
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 quickly after workouts, races, shows, etc. 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 to use the technological reach of today's Internet capabilities.
Example: Another woman came to me wondering how to turn her love of baking brownies into a real business. She had baked brownies for years, giving them away, providing treats to local gatherings, selling at local fairs and flea markets. I advised her to think of a larger, 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 the Internet. She put a basic website in place, and began using social media--these were now her sales force, together with an enthusiastic word of mouth trail. The UPS truck now comes to her place every day, loads up packages of brownies, and delivers them all over the United States. All this with no loan, no written business plan, and no government help.
Technology can be used in various ways in small business. It can form the basis of a business, or it can provide the foundation for sales and marketing. Or both.
Technology provides you with the means to shoot the moon. Go for it.
My personal experience with small business extends back to 1972--that's when I left corporate America and established my first business. These days I write about business and coach people in small business. Questions? 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
Customer trust
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.
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.
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.
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