Free daily tips, information, advice and ideas
to help you better manage your small business.
Customers are a gold mine. Mining your customer relations can bring them back again and again. As a plus, they will refer others to you.
Example: Gina operates a women's clothing and accessories business. She sells to walk-ins and through her website. She attracts customers through regular posts on social media. Every time a customer spends more than $100, Gina sends a personal thank you. When someone spends more than $500, she sends a gift certificate.
Example: Ed runs a garden center. During the spring and summer, Ed regularly hosts an event, free and open to the public, showing people how to lay pavers and bricks, how to build walls and fences, etc. He brings in representatives from suppliers--they are glad to contribute their time. These events have built Ed's reputation and expanded his customer base far beyond its previous reach. Even local landscapers and contractors attend the sessions and refer others.
Example: Eve is an accountant. She sees many of her clients only once each year--at tax time. She regularly spends time with each client, showing them how to simplify their bookkeeping and be aware of the tax implications of what they are doing in their businesses throughout the year. This has solidified Eve's relationship with clients, expanded the amount of work she does with them, and attracted more clients.
Example: Frank is a caterer. He helps each client make the most of their affair by showing them how to take it to the next level. This sometimes means suggesting a black tie affair or setting up a big tent with a dance floor and band to create spectacular gatherings. Frank's operation has moved from handling backyard events to managing large affairs for corporate clients.
The idea is to create good customer relations with your clients. Educate them. Show them how you can do more. Make sure they understand the complete range of your services and products.
Offering free information is basic to developing good customer relations. Your clients expect you to be there for them and this includes the free flow of information between you and them. It costs you only your time. But it can turn a single sale into a customer who returns again and again, refers others to you, and sings your praises on social media.
Every customer represents more than is first apparent. Dig deeper. Get to know every one of them. Expanding a conversation beyond the subject at hand will pay off in the future.
Wednesday, June 3, 2015
Tuesday, June 2, 2015
Train your employees
Free daily tips, information, advice and ideas
to help you better manage your small business.
You help your clients and customers. It's part of doing business. But do you help your employees?
You depend on your employees. They depend on you. Employees are a vital link between you and your future.
It is a mutually beneficial relationship. Some employees are simply looking for a long-term home. Others are passing through. Either way, it's up to you to train and cross-train every one of them.
Example: Jon runs a printing operation. Mary came on board with some computer experience and lots of ambition. Jon trained her in the activities he had planned for her and then he cross-trained her in other jobs in the operation. Mary absorbed everything and demonstrated a desire to learn even more. Jon called her aside for a private conversation. He began by telling her that she had quickly become his most valuable employee, and that he hoped that she would stay with the operation. However, he told her that she had abilities far beyond what he would ever be able to offer. If she would stay, he would be grateful, but if she wanted to move on, he understood and would gladly help her find and move into a better position elsewhere. Mary stayed on for a while, but subsequently left. Today she works in a large corporation and refers all her printing work to Jon.
Example: Sue took over the family hardware business she inherited. Three of her employees have been with the store for more than 10 years. They know the customers, the hardware business and the products. Sue called everyone together and announced that she was putting in a better retirement plan and added other benefits so that the employees would know that she was there for the long haul--and appreciated them.
Example: Darryl is a hair stylist with an active salon. To expand, he looked for ambitious employees and sent them to a top school for stylists. It paid off. Darryl's salon attracted many clients from a wide area because of the top-flight staff he had put together.
Training and cross-training your employees helps them and helps you. They might stay with your operation for the long term, or they might move on. Either way, it's up to you to help them find themselves.
Business is a living, breathing undertaking. You will not be around forever, and neither will your employees. Make the most of the time you have together.
The secret to having good employees is in the training and cross-training and knowing that they will not be with you forever.
to help you better manage your small business.
You help your clients and customers. It's part of doing business. But do you help your employees?
You depend on your employees. They depend on you. Employees are a vital link between you and your future.
It is a mutually beneficial relationship. Some employees are simply looking for a long-term home. Others are passing through. Either way, it's up to you to train and cross-train every one of them.
Example: Jon runs a printing operation. Mary came on board with some computer experience and lots of ambition. Jon trained her in the activities he had planned for her and then he cross-trained her in other jobs in the operation. Mary absorbed everything and demonstrated a desire to learn even more. Jon called her aside for a private conversation. He began by telling her that she had quickly become his most valuable employee, and that he hoped that she would stay with the operation. However, he told her that she had abilities far beyond what he would ever be able to offer. If she would stay, he would be grateful, but if she wanted to move on, he understood and would gladly help her find and move into a better position elsewhere. Mary stayed on for a while, but subsequently left. Today she works in a large corporation and refers all her printing work to Jon.
Example: Sue took over the family hardware business she inherited. Three of her employees have been with the store for more than 10 years. They know the customers, the hardware business and the products. Sue called everyone together and announced that she was putting in a better retirement plan and added other benefits so that the employees would know that she was there for the long haul--and appreciated them.
Example: Darryl is a hair stylist with an active salon. To expand, he looked for ambitious employees and sent them to a top school for stylists. It paid off. Darryl's salon attracted many clients from a wide area because of the top-flight staff he had put together.
Training and cross-training your employees helps them and helps you. They might stay with your operation for the long term, or they might move on. Either way, it's up to you to help them find themselves.
Business is a living, breathing undertaking. You will not be around forever, and neither will your employees. Make the most of the time you have together.
The secret to having good employees is in the training and cross-training and knowing that they will not be with you forever.
Monday, June 1, 2015
Giving back and more
Free daily tips, information, advice and ideas
to help you better manage your small business.
Giving back and making a difference are constant mantras today. We hear these admonitions at every turn.
Well, by its very existence, your small business is giving back and making a difference. Every time you open your door, answer your phone, or post to social media, you are contributing to your community.
Your business provides for peoples' daily wants and needs. Your services and products are vital parts of people's daily lives.
Example: Dawn owns an embroidery service. She has several of the machines and has computerized outputs that handle logos and other fancy items. She puts names on uniforms for other companies as well as sports teams. Sometimes, local sports teams cannot afford the costs, so she offers discounts and sometimes freebies to deserving groups. These involvements help Dawn with on-going as well as new business.
Example: Joe is an organic farmer, supplying local foods to local restaurants, farm markets, and other venues. To keep his reputation spreading, he offers free tours to local school kids. This creates excitement and referrals for his produce. Kids and teachers alike learn how food is produced, where it comes from and how it's prepared for consumption.
These two simple examples show how a small business can become more involved with the local community. Garden centers and florists, repair shops and printing operations, massage therapists and holistic practitioners, and other small businesses can reach out into the community in various ways at virtually no cost to the business.
This is giving back and making a difference in real ways. It's not just a feel good activity. It's much more.
Put on your thinking cap. Come up with ways that involve your community. An event, for example, can inform and educate--potters can offer free demonstrations showing how pottery is formed, and chiropractors can demonstrate exactly how they help people with their health problems.
Big companies can afford to build a stadium with the company name on it. You have to do more with less. But the benefits can be the same.
Giving back and making a difference is something you already do. But you can expand your community involvement with all sorts of activities.
to help you better manage your small business.
Giving back and making a difference are constant mantras today. We hear these admonitions at every turn.
Well, by its very existence, your small business is giving back and making a difference. Every time you open your door, answer your phone, or post to social media, you are contributing to your community.
Your business provides for peoples' daily wants and needs. Your services and products are vital parts of people's daily lives.
Example: Dawn owns an embroidery service. She has several of the machines and has computerized outputs that handle logos and other fancy items. She puts names on uniforms for other companies as well as sports teams. Sometimes, local sports teams cannot afford the costs, so she offers discounts and sometimes freebies to deserving groups. These involvements help Dawn with on-going as well as new business.
Example: Joe is an organic farmer, supplying local foods to local restaurants, farm markets, and other venues. To keep his reputation spreading, he offers free tours to local school kids. This creates excitement and referrals for his produce. Kids and teachers alike learn how food is produced, where it comes from and how it's prepared for consumption.
These two simple examples show how a small business can become more involved with the local community. Garden centers and florists, repair shops and printing operations, massage therapists and holistic practitioners, and other small businesses can reach out into the community in various ways at virtually no cost to the business.
This is giving back and making a difference in real ways. It's not just a feel good activity. It's much more.
Put on your thinking cap. Come up with ways that involve your community. An event, for example, can inform and educate--potters can offer free demonstrations showing how pottery is formed, and chiropractors can demonstrate exactly how they help people with their health problems.
Big companies can afford to build a stadium with the company name on it. You have to do more with less. But the benefits can be the same.
Giving back and making a difference is something you already do. But you can expand your community involvement with all sorts of activities.
Friday, May 29, 2015
Expand and grow
Free daily tips, information, advice and ideas
to help you better manage your small business.
Expanding your business takes time, planning and moving forward one step at a time. Expanding means taking on related markets.
Example: Linda is a chiropractor who decided she wanted to head in the direction of becoming a wellness center. She spent several months talking with holistic practitioners, investigating the market possibilities, looking at space availability, and gradually homing in on a business plan. Today, Linda is well underway. Her new wellness center is attracting clients looking for all sorts of treatments--Reiki, massage, acupuncture, yoga, nutritional guidance, and other interests. She provides space for various experts to meet and treat clients. These people pay her a simple fee, or, for longer term experts, they rent space from her. There is a reception room providing informational displays and video. The new center has attracted community attention, and her chiropractic practice has attracted many new clients.
Example: Mary is a potter. She has a studio that is open to the public. She loved to experiment with glazes and she developed specialty products that attracted attention and sales. To expand, she decided to offer classes to groups and to individuals. In addition, she decided to hold events once each month--bringing in other artists (jewelers, fiber artists, and others). The events were successful and brought in more people interested in classes for her pottery and glazes. Mary also wrote a short how-to book which she offers on Amazon--people who attend her classes also buy the book.
Example: Jon is a landscaper. He cuts grass, trims shrubbery, helps homeowners put plant material in the yard, and builds walkways and small seating areas. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. He has a small office inside his home--a converted bedroom. Jon's wife reminded him that he had to get the business out of the house, out of the garage and out of the yard. Looking around, Jon found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the place to Jon. After carefully projecting the numbers, Jon jumped at the chance. The elderly man was looking for an income for his declining years, so they agreed to a payout that Jon could afford over the next 15 years. If Jon defaulted, the elderly man could repossess the place and sell it again. Today, Jon has expanded his landscaping services into a full-blown garden center that attracts more customers, expanding his business.
To expand your business, get creative. You already have a base operation. It's up to you to home in on what can work for you.
Expansions are not to be taken lightly. When you think you've found a way to grow, do the numbers. That means knowing the market.
to help you better manage your small business.
Expanding your business takes time, planning and moving forward one step at a time. Expanding means taking on related markets.
Example: Linda is a chiropractor who decided she wanted to head in the direction of becoming a wellness center. She spent several months talking with holistic practitioners, investigating the market possibilities, looking at space availability, and gradually homing in on a business plan. Today, Linda is well underway. Her new wellness center is attracting clients looking for all sorts of treatments--Reiki, massage, acupuncture, yoga, nutritional guidance, and other interests. She provides space for various experts to meet and treat clients. These people pay her a simple fee, or, for longer term experts, they rent space from her. There is a reception room providing informational displays and video. The new center has attracted community attention, and her chiropractic practice has attracted many new clients.
Example: Mary is a potter. She has a studio that is open to the public. She loved to experiment with glazes and she developed specialty products that attracted attention and sales. To expand, she decided to offer classes to groups and to individuals. In addition, she decided to hold events once each month--bringing in other artists (jewelers, fiber artists, and others). The events were successful and brought in more people interested in classes for her pottery and glazes. Mary also wrote a short how-to book which she offers on Amazon--people who attend her classes also buy the book.
Example: Jon is a landscaper. He cuts grass, trims shrubbery, helps homeowners put plant material in the yard, and builds walkways and small seating areas. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. He has a small office inside his home--a converted bedroom. Jon's wife reminded him that he had to get the business out of the house, out of the garage and out of the yard. Looking around, Jon found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the place to Jon. After carefully projecting the numbers, Jon jumped at the chance. The elderly man was looking for an income for his declining years, so they agreed to a payout that Jon could afford over the next 15 years. If Jon defaulted, the elderly man could repossess the place and sell it again. Today, Jon has expanded his landscaping services into a full-blown garden center that attracts more customers, expanding his business.
To expand your business, get creative. You already have a base operation. It's up to you to home in on what can work for you.
Expansions are not to be taken lightly. When you think you've found a way to grow, do the numbers. That means knowing the market.
Thursday, May 28, 2015
Getting cash
Free daily tips, information, advice and tips
to help you better manage your small business.
Getting cash into your business is an on-going problem. Customers pay for goods and services, but the cash flow always seems to lag.
Everyday concerns are one thing. Long term growth presents an even bigger problem. There is a difference between money to operate today and money to grow tomorrow.
Loans from banks can be hard to get. Loans from friends and family can present other problems--if you go this route, always have a business plan and always write a contract.
Private investors are another source. Many people make investments in stocks and bonds. Some of these people might be open to considering investing in a local small business. With either a loan or a partial ownership in your business, you might be able to attract them with a better return than they could realize otherwise.
Other methods are available. (1) Credit cards can provide flexibility, but interest can be high. They are not a long-term solution to getting cash. (2) Some businesses can factor receivables. This, too, can be costly, but you might be able to bump up your selling prices to cover. (3) "Borrowing" from your suppliers by negotiating longer payment terms--by the time their invoice arrives and has to be paid, you have sold the goods and have the cash to meet the payment. (4) "Borrowing" from your clients and customers by selling gift certificates--some of these will never be redeemed. (5) "Borrowing" from customers who buy your custom manufactured products by having them pre-pay for future delivery. (6) Have your customers make work-in-progress payments--common in certain industries (printing, landscaping, construction, machine shops). (7) Sell on-going maintenance and repair contracts--the cash comes in on a regular basis, whether or not you are called on to perform.
Getting cash into your business requires constant attention. Healthy cash flow means you are building for the future.
You'll need a business plan to get the bigger loans you'll need for future growth. Healthy cash flow in your business provides a solid foundation for that business plan.
to help you better manage your small business.
Getting cash into your business is an on-going problem. Customers pay for goods and services, but the cash flow always seems to lag.
Everyday concerns are one thing. Long term growth presents an even bigger problem. There is a difference between money to operate today and money to grow tomorrow.
Loans from banks can be hard to get. Loans from friends and family can present other problems--if you go this route, always have a business plan and always write a contract.
Private investors are another source. Many people make investments in stocks and bonds. Some of these people might be open to considering investing in a local small business. With either a loan or a partial ownership in your business, you might be able to attract them with a better return than they could realize otherwise.
Other methods are available. (1) Credit cards can provide flexibility, but interest can be high. They are not a long-term solution to getting cash. (2) Some businesses can factor receivables. This, too, can be costly, but you might be able to bump up your selling prices to cover. (3) "Borrowing" from your suppliers by negotiating longer payment terms--by the time their invoice arrives and has to be paid, you have sold the goods and have the cash to meet the payment. (4) "Borrowing" from your clients and customers by selling gift certificates--some of these will never be redeemed. (5) "Borrowing" from customers who buy your custom manufactured products by having them pre-pay for future delivery. (6) Have your customers make work-in-progress payments--common in certain industries (printing, landscaping, construction, machine shops). (7) Sell on-going maintenance and repair contracts--the cash comes in on a regular basis, whether or not you are called on to perform.
Getting cash into your business requires constant attention. Healthy cash flow means you are building for the future.
You'll need a business plan to get the bigger loans you'll need for future growth. Healthy cash flow in your business provides a solid foundation for that business plan.
Wednesday, May 27, 2015
Persistence pays
Free daily tips, information, advice and ideas
to help you better manage your small business.
You run your own business. You are creative, hard-working, tenacious and stubborn. But sometimes you get confused.
It's an everyday kind of confusion. Not to worry.
Example: Takisha runs a neighborhood cafe. She used her grandmother's recipes and good advice to establish the operation. Customers rewarded her by returning again and again--and by referring others to the food she served. After a year or so, the business leveled off. Takisha knew that she had to reach out beyond the neighborhood in order to grow. She tried print ads, coupons, and a postcard mailing. There was little success. Then she hit on the thing that worked--she posted pictures of plates of food on Facebook. The pictures got "liked" and passed around. Suddenly, people from other areas of town showed up. Takisha is thinking about renting the space next door and expanding.
Example: Kathy is a massage therapist. She has built up a clientele that is growing--slowly. To speed up growth, Kathy partnered with others to offer free informational sessions. She brought in specialists in nutrition, hypnotherapy, Reiki, and others. Once each month, a specialist joined Kathy in explaining and demonstrating and answering questions. The sessions helped Kathy speed up her growth by introducing her massage therapy to others who were attracted to the sessions. The other specialists enjoyed growth as well.
Example: Bill is a landscaper. He needed to add new equipment and a truck to his operation. Banks turned him down. To get the money, he searched the Internet for companies that specialized in loaning money to small businesses. He found one that suited his requirements.
Worrying about your business is normal. Separate the problems and focus on one thing at a time. Tackle confusion by listing problems. Then solve them one at a time. Work your way through your list.
The paths to success are many. What works for you might not work for me. Find your own path. Never give up!
Persistence pays. Learn to compartmentalize. Separate your problems and you'll find it easier to solve them--one at a time.
to help you better manage your small business.
You run your own business. You are creative, hard-working, tenacious and stubborn. But sometimes you get confused.
It's an everyday kind of confusion. Not to worry.
Example: Takisha runs a neighborhood cafe. She used her grandmother's recipes and good advice to establish the operation. Customers rewarded her by returning again and again--and by referring others to the food she served. After a year or so, the business leveled off. Takisha knew that she had to reach out beyond the neighborhood in order to grow. She tried print ads, coupons, and a postcard mailing. There was little success. Then she hit on the thing that worked--she posted pictures of plates of food on Facebook. The pictures got "liked" and passed around. Suddenly, people from other areas of town showed up. Takisha is thinking about renting the space next door and expanding.
Example: Kathy is a massage therapist. She has built up a clientele that is growing--slowly. To speed up growth, Kathy partnered with others to offer free informational sessions. She brought in specialists in nutrition, hypnotherapy, Reiki, and others. Once each month, a specialist joined Kathy in explaining and demonstrating and answering questions. The sessions helped Kathy speed up her growth by introducing her massage therapy to others who were attracted to the sessions. The other specialists enjoyed growth as well.
Example: Bill is a landscaper. He needed to add new equipment and a truck to his operation. Banks turned him down. To get the money, he searched the Internet for companies that specialized in loaning money to small businesses. He found one that suited his requirements.
Worrying about your business is normal. Separate the problems and focus on one thing at a time. Tackle confusion by listing problems. Then solve them one at a time. Work your way through your list.
The paths to success are many. What works for you might not work for me. Find your own path. Never give up!
Persistence pays. Learn to compartmentalize. Separate your problems and you'll find it easier to solve them--one at a time.
Tuesday, May 26, 2015
Hello social media
Free daily tips, information, advice and ideas
to help you better manage your small business.
Social media is the new kid on the block when it comes to getting the word out. Advertising has taken many forms in the past, but social media is putting all the older methods to shame.
Social media is still developing, expanding, finding its place in the brave new world of computer technology. Who knows where it will lead us. In the meantime, it's revolutionizing the ways in which we interact.
Take Facebook. It is a way to reach out, stay connected, have fun, play games, laugh and cry, and otherwise escape the more formalized roads our culture has provided in the past.
And it is a way to promote the goods and services small businesses provide. Not the hard sell. But the softer interactions between regular folks getting on with their daily lives.
Example: An upscale women's shop posts pictures of newly arrived dresses, jeans, outfits and accessories on Facebook. Almost every day, there is something new there. The site becomes a go-to place for regular customers--and they not only "like" the photos, they also pass them on to their friends.
Example: A bakery that specializes in scones and brownies posts pictures of mouth-watering products on Facebook. Orders come in from organizations and corporate clients who want to punch up their meetings with some unusual goodies.
Example: A wellness center regularly posts pictures of the activities going on at the center--along with announcements of upcoming events. Massage therapists give free demos, yoga specialists hold free sessions, nutritionists hold free question-and-answer group meetings. Thanks to Facebook, the pictures create excitement and draw people to the center. The Facebook site is the chief means of advertising what goes on there.
Facebook is easy. It's free. And they lead you through the set-up. Of course, they want you to buy an ad, but it's not required.
Facebook is only one of the possibilities. How about using LinkedIn or Twitter or Pinterest or Instagram or some other social media site?
To use social media effectively, you'll need pictures. Well, you snap pictures anyway. They don't have to be professionally done to be effective. They don't even have to be on the subject at hand--any pet can attract attention to your message.
to help you better manage your small business.
Social media is the new kid on the block when it comes to getting the word out. Advertising has taken many forms in the past, but social media is putting all the older methods to shame.
Social media is still developing, expanding, finding its place in the brave new world of computer technology. Who knows where it will lead us. In the meantime, it's revolutionizing the ways in which we interact.
Take Facebook. It is a way to reach out, stay connected, have fun, play games, laugh and cry, and otherwise escape the more formalized roads our culture has provided in the past.
And it is a way to promote the goods and services small businesses provide. Not the hard sell. But the softer interactions between regular folks getting on with their daily lives.
Example: An upscale women's shop posts pictures of newly arrived dresses, jeans, outfits and accessories on Facebook. Almost every day, there is something new there. The site becomes a go-to place for regular customers--and they not only "like" the photos, they also pass them on to their friends.
Example: A bakery that specializes in scones and brownies posts pictures of mouth-watering products on Facebook. Orders come in from organizations and corporate clients who want to punch up their meetings with some unusual goodies.
Example: A wellness center regularly posts pictures of the activities going on at the center--along with announcements of upcoming events. Massage therapists give free demos, yoga specialists hold free sessions, nutritionists hold free question-and-answer group meetings. Thanks to Facebook, the pictures create excitement and draw people to the center. The Facebook site is the chief means of advertising what goes on there.
Facebook is easy. It's free. And they lead you through the set-up. Of course, they want you to buy an ad, but it's not required.
Facebook is only one of the possibilities. How about using LinkedIn or Twitter or Pinterest or Instagram or some other social media site?
To use social media effectively, you'll need pictures. Well, you snap pictures anyway. They don't have to be professionally done to be effective. They don't even have to be on the subject at hand--any pet can attract attention to your message.
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