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to help you better manage your small business
As a business owner, you know how to save money. You know how to buy used equipment instead of shelling out the big bucks for new.
In the health care field, massage therapists, Pilates instructors, chiropractors and others save a lot by buying used equipment. The same can be said for restaurant and baking equipment, store shelving and refrigeration, printing equipment, auto repair, office equipment and fixtures, and countless other examples.
Any business owner thinking of expanding should consider buying used--not new--equipment and vehicles. Used office equipment and computing equipment can serve just as well as new. You can find this stuff at steep discounts by searching out used items in good condition at trustworthy sources.
Example: Zack owned a small printing shop. His industry was undergoing big time technological changes, and Zack installed a high speed quick-print machine to satisfy some of his customers needs. But Zack wanted to remain small and specialized--he was not looking to compete with all the runaway technology that many printers were installing. Instead, he went looking for older presses. He found an old German-made press that he bought for pennies on the dollar--just over the scrap value of the iron it was made of. Today, Zack can turn out high quality, color work on his older machine and still satisfy customers requiring quick turnaround copies.
Example: Mike spotted a new strip mall being built near a new big complex of retirement homes. He made arrangements to rent one of the new storefronts in the strip mall. Then he went looking to establish his dream bagel shop. A franchise would cost him $250,000. If he passed on the franchise and bought new equipment, Mike could get into business at half the cost. But he found an antique bagel making machine at a used restaurant equipment supply house that he could buy for $10,000. Mike jumped at the chance. He cleaned up the old machine, put it back in operating condition, and installed it in the front window of his new bagel store. It was like a museum--continuously operating machinery dropped bagels at the end of the line every few seconds. Mike got lots of free publicity, not only in local papers and on social media, but a national magazine wrote about his bagel operation as well.
Before you disparage used, think about used vehicles and homes. And then there used transplants--hearts, livers, corneas, kidneys.
Before you spend on new, consider the savings possible with used. Now, re-work your business plan and see how the numbers add up.
Tuesday, November 24, 2015
Monday, November 23, 2015
Partnering with others
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to help you better manage your small business
Getting together with another small business to hold an event helps both businesses. Together, they attract more attention and generate more excitement than either can acting alone.
Partnering with another business is NOT about holding a sale or setting up a town-wide event. Those are different and take different approaches.
Many ways can be used to put together your business with another to hold an event. Hold workshops, sponsor seminars, set up informational meetings and demonstrations, hold a networking event, sponsor events to raise funds for a good cause.
Example: A health foods store partners with a nutritionist. Monthly sessions are announced on social media (Facebook, Instagram, etc.), a news release is sent out, and store customers are reminded of the upcoming events. The nutritionist gives a talk and answers questions. The health foods store sets up a table of samples. Use your imagination. The sessions draw new customers to the store and new clients call the nutritionist.
Example: A bicycle shop partners with a fitness operation to hold Saturday morning riding sessions. People meet in the parking lot of a local restaurant. The $10 per rider charge goes to a local charity--which announces the event to its members. The event attracts new people to all the businesses as well as to the charity. (This same type event could include an auto repair shop where the people meet. How about a chiropractor, or a wellness center, a garden center?)
Example: A potter and a florist put together a workshop. People can come and learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop, held in the pottery studio, attracts a great deal of attention in social media when announced. Both businesses get new prospects.
Partnering with other businesses to hold events helps to expand the participating businesses. Partnering puts a fresh face on what you do, and it offers opportunities to post pictures--before and after the event.
Posting pictures on social media is an excellent promotional tool. These pictures get people's attention, causes them to want to participate, and they pass the pictures to their friends which can result in referrals.
Prod your business to the next level by partnering with another business to hold an event that draws more attention and expands your appeal.
to help you better manage your small business
Getting together with another small business to hold an event helps both businesses. Together, they attract more attention and generate more excitement than either can acting alone.
Partnering with another business is NOT about holding a sale or setting up a town-wide event. Those are different and take different approaches.
Many ways can be used to put together your business with another to hold an event. Hold workshops, sponsor seminars, set up informational meetings and demonstrations, hold a networking event, sponsor events to raise funds for a good cause.
Example: A health foods store partners with a nutritionist. Monthly sessions are announced on social media (Facebook, Instagram, etc.), a news release is sent out, and store customers are reminded of the upcoming events. The nutritionist gives a talk and answers questions. The health foods store sets up a table of samples. Use your imagination. The sessions draw new customers to the store and new clients call the nutritionist.
Example: A bicycle shop partners with a fitness operation to hold Saturday morning riding sessions. People meet in the parking lot of a local restaurant. The $10 per rider charge goes to a local charity--which announces the event to its members. The event attracts new people to all the businesses as well as to the charity. (This same type event could include an auto repair shop where the people meet. How about a chiropractor, or a wellness center, a garden center?)
Example: A potter and a florist put together a workshop. People can come and learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop, held in the pottery studio, attracts a great deal of attention in social media when announced. Both businesses get new prospects.
Partnering with other businesses to hold events helps to expand the participating businesses. Partnering puts a fresh face on what you do, and it offers opportunities to post pictures--before and after the event.
Posting pictures on social media is an excellent promotional tool. These pictures get people's attention, causes them to want to participate, and they pass the pictures to their friends which can result in referrals.
Prod your business to the next level by partnering with another business to hold an event that draws more attention and expands your appeal.
Friday, November 20, 2015
Promote for growth
Free daily tips, information, advice and ideas
to help you better manage your small business
It's not a matter of running a pet store. Pets can help you--no matter your business--to attract attention and reel in prospects and referrals.
Chiropractors, wellness experts, restaurants, and shops of all sorts are using pets to promote their operations. Why? Because it works.
Example: Ted is a chiropractor. He regularly posts on Facebook, LinkedIn, and Instagram--and all of these show pictures of his big dog. His dog is very active and the pictures show the dog jumping, running, chasing a ball, carrying a stick or curled up at Ted's feet. All this shows a message of a care-free, pain-free lifestyle. Ted doesn't write about bones and muscles--that information is on his website for people who want more chiropractic information. Ted's dog is the message. It is upfront, attention-getting, and draws in the viewer. Plus the pictures get passed around.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter or in the sunny front window, eyeing all comers and catching cat naps. Jan snaps pictures of the cat and posts on Facebook and other social media, generating continuing interest in her shop--as well as referrals. Jan's regulars have developed an attachment to the cat and they refer others--passing the pictures around among their friends.
Example: Tom runs a bar. To punch up interest, he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one wall and had a sign painter emblazon the words "Man's Best Friend" across the top. Underneath, he hung a reproduction of a famous painting of dogs playing cards. Then he invited everyone to post pictures of their dogs all over the rest of the wall. Soon, dozen of pictures of dogs and puppies appeared. Tom takes pictures of the wall and posts on social media. The bar is now affectionately known as Tom's Dog House.
Dogs and cats can be used in many ways to promote a business. Put your creativity to work. Today's social media offers many opportunities using dogs and cats to attract attention to your operation.
It doesn't matter what your business is--pictures of dogs and cats capture the viewer's attention, and that's the point. Then, they check you out and pass the pictures around.
The key for you is the non-stop picture-taking. Today, everyone can snap pictures and post them easily, inexpensively, and continuously.
to help you better manage your small business
It's not a matter of running a pet store. Pets can help you--no matter your business--to attract attention and reel in prospects and referrals.
Chiropractors, wellness experts, restaurants, and shops of all sorts are using pets to promote their operations. Why? Because it works.
Example: Ted is a chiropractor. He regularly posts on Facebook, LinkedIn, and Instagram--and all of these show pictures of his big dog. His dog is very active and the pictures show the dog jumping, running, chasing a ball, carrying a stick or curled up at Ted's feet. All this shows a message of a care-free, pain-free lifestyle. Ted doesn't write about bones and muscles--that information is on his website for people who want more chiropractic information. Ted's dog is the message. It is upfront, attention-getting, and draws in the viewer. Plus the pictures get passed around.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter or in the sunny front window, eyeing all comers and catching cat naps. Jan snaps pictures of the cat and posts on Facebook and other social media, generating continuing interest in her shop--as well as referrals. Jan's regulars have developed an attachment to the cat and they refer others--passing the pictures around among their friends.
Example: Tom runs a bar. To punch up interest, he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one wall and had a sign painter emblazon the words "Man's Best Friend" across the top. Underneath, he hung a reproduction of a famous painting of dogs playing cards. Then he invited everyone to post pictures of their dogs all over the rest of the wall. Soon, dozen of pictures of dogs and puppies appeared. Tom takes pictures of the wall and posts on social media. The bar is now affectionately known as Tom's Dog House.
Dogs and cats can be used in many ways to promote a business. Put your creativity to work. Today's social media offers many opportunities using dogs and cats to attract attention to your operation.
It doesn't matter what your business is--pictures of dogs and cats capture the viewer's attention, and that's the point. Then, they check you out and pass the pictures around.
The key for you is the non-stop picture-taking. Today, everyone can snap pictures and post them easily, inexpensively, and continuously.
Thursday, November 19, 2015
Planning for disasters
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to help you better manage your small business
Disasters happen. Fires, floods, computer glitches, power outages and burglaries can strike at any time. Key employees can have accidents and be laid up recuperating for months.
Owners of small businesses provide their own back-up. Think about the things that can go wrong, and have a plan to get you through the mess. Don't wait until the disaster happens.
Example: Jim runs a small computing firm with three employees. The main component of his business is to continually monitor the operating systems of his client larger firms, assuring them uninterrupted and problem-free operation. Jim is set up to electronically repair computer problems remotely. A key employee, however, broke her back and would suddenly be absent for weeks. Jim had to scramble to cover the work the employee had been handling. He had to substitute himself in the technical aspects the employee normally handled. It was a valuable lesson. When the employee returned to work, Jim began paying attention to cross-training all his employees.
Example: Mary is an expert in massage with her own studio. Over several years, Mary built up her client base and went looking for bigger space. She was careful not to consider ground-floor space because the river sometimes flooded the Main Street. She didn't want stairs because some of her clients could not manage stairs. She found space accessible by a ramp in a building with offices that were well above ground level. Her careful planning paid off--when the river flooded, she was high and dry.
Example: Ella runs a small graphic arts firm. The business was going well when suddenly the landlord informed her that she had 60 days to vacate the space. The lease gave the landlord that option. It also provided that the landlord would buy out the remaining months of the lease--a clause Ella had insisted on when she signed the original lease. Since there were two years remaining in the lease, Ella received a sizable cash payment from the landlord. She used the money to move, buy new equipment, and add an employee. The disruption in on-going work was significant, but Ella turned disaster into positive growth.
Think through your own situation. Have a plan in place--at least in your head--to deal with that next disaster that might hit your business.
Anything can happen. Big companies can ride out disasters--they have deep pockets. But your small business depends on you.
to help you better manage your small business
Disasters happen. Fires, floods, computer glitches, power outages and burglaries can strike at any time. Key employees can have accidents and be laid up recuperating for months.
Owners of small businesses provide their own back-up. Think about the things that can go wrong, and have a plan to get you through the mess. Don't wait until the disaster happens.
Example: Jim runs a small computing firm with three employees. The main component of his business is to continually monitor the operating systems of his client larger firms, assuring them uninterrupted and problem-free operation. Jim is set up to electronically repair computer problems remotely. A key employee, however, broke her back and would suddenly be absent for weeks. Jim had to scramble to cover the work the employee had been handling. He had to substitute himself in the technical aspects the employee normally handled. It was a valuable lesson. When the employee returned to work, Jim began paying attention to cross-training all his employees.
Example: Mary is an expert in massage with her own studio. Over several years, Mary built up her client base and went looking for bigger space. She was careful not to consider ground-floor space because the river sometimes flooded the Main Street. She didn't want stairs because some of her clients could not manage stairs. She found space accessible by a ramp in a building with offices that were well above ground level. Her careful planning paid off--when the river flooded, she was high and dry.
Example: Ella runs a small graphic arts firm. The business was going well when suddenly the landlord informed her that she had 60 days to vacate the space. The lease gave the landlord that option. It also provided that the landlord would buy out the remaining months of the lease--a clause Ella had insisted on when she signed the original lease. Since there were two years remaining in the lease, Ella received a sizable cash payment from the landlord. She used the money to move, buy new equipment, and add an employee. The disruption in on-going work was significant, but Ella turned disaster into positive growth.
Think through your own situation. Have a plan in place--at least in your head--to deal with that next disaster that might hit your business.
Anything can happen. Big companies can ride out disasters--they have deep pockets. But your small business depends on you.
Wednesday, November 18, 2015
Freebies for your customers
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to help you better manage your small business
Showing you care about your customers is easy. It's a matter of staying on top of customers' expectations and interests.
Example: Peg runs a specialized collectibles business. Her only store is her website. She sells vintage board games, computer games, video games, and related items. Peg promotes heavily on social media--Facebook, Instagram, and LinkedIn. In prior years, she charged for shipping. Today, just about everything ordered is shipped for free. In addition, Peg encloses a small free gift in every package that goes out. Her customers are a specialized lot, they are very loyal, and they refer others to her.
Example: Ana runs a restaurant. She promotes on Facebook, entering her specials every day. She gets lots of "likes" and a few comments that are negative. Ana responds to every "like" that comes in, and she also responds to every negative comment--putting a positive spin on her reply and inviting the person to get a free dessert when visiting.
Example: Julie is a massage therapist. To promote her services, Julie gives free demonstrations and talks at senior centers, group meetings, and corporate venues. These activities bring additional clients to Julie's place--many of whom have never before had a real massage. New clients always receive a gift certificate that they can use themselves or pass on to others.
Example: Ken runs an auto repair shop. Customers needing major repairs always get more. Ken checks wiper blades, tire pressure, and several additional minor items--listing all this on the final bill, but entering "Our gift to you" instead of a charge. This builds goodwill.
Example: Pepe runs a bakery. Every customer is invited to take a free cookie from the sample table he maintains in front of his display cases. Outgoing orders are bagged with a free cookie also. And he always asks the recipient for feedback on the freebie. It's Pepe's way of testing new products--sort of like a focus group.
Freebies can take many forms--whether you provide goods or services. Or whether you sell on the net or in a shop. Use your creativity.
Freebies create goodwill among your present customers and clients. And that goodwill gets passed around, resulting in more referrals for you.
to help you better manage your small business
Showing you care about your customers is easy. It's a matter of staying on top of customers' expectations and interests.
Example: Peg runs a specialized collectibles business. Her only store is her website. She sells vintage board games, computer games, video games, and related items. Peg promotes heavily on social media--Facebook, Instagram, and LinkedIn. In prior years, she charged for shipping. Today, just about everything ordered is shipped for free. In addition, Peg encloses a small free gift in every package that goes out. Her customers are a specialized lot, they are very loyal, and they refer others to her.
Example: Ana runs a restaurant. She promotes on Facebook, entering her specials every day. She gets lots of "likes" and a few comments that are negative. Ana responds to every "like" that comes in, and she also responds to every negative comment--putting a positive spin on her reply and inviting the person to get a free dessert when visiting.
Example: Julie is a massage therapist. To promote her services, Julie gives free demonstrations and talks at senior centers, group meetings, and corporate venues. These activities bring additional clients to Julie's place--many of whom have never before had a real massage. New clients always receive a gift certificate that they can use themselves or pass on to others.
Example: Ken runs an auto repair shop. Customers needing major repairs always get more. Ken checks wiper blades, tire pressure, and several additional minor items--listing all this on the final bill, but entering "Our gift to you" instead of a charge. This builds goodwill.
Example: Pepe runs a bakery. Every customer is invited to take a free cookie from the sample table he maintains in front of his display cases. Outgoing orders are bagged with a free cookie also. And he always asks the recipient for feedback on the freebie. It's Pepe's way of testing new products--sort of like a focus group.
Freebies can take many forms--whether you provide goods or services. Or whether you sell on the net or in a shop. Use your creativity.
Freebies create goodwill among your present customers and clients. And that goodwill gets passed around, resulting in more referrals for you.
Tuesday, November 17, 2015
Engaging your customers
Free daily tips, information, advice and ideas
to help you better manage your small business.
Customers can be a gold mine. But it's up to you to do the mining. They show up to pan for gold, but you must show them how to use the pan--and get what they want.
Your customers click on your website and hit the "Place Order" key. Or they come to your retail store and make a purchase. All of them are in a hurry--it's the way life is lived these days.
It's up to you to understand their predicament. They need your help on some level or they would not be there. Your promotions have brought them to you. This puts you squarely in their sights.
Everyone needs products and services--hopefully yours. But people also need information. They want answers. They want to know what you can do for them. They want to be entertained. It's all about them.
Example: Irene is an artist. She hand paints silk scarves which she sells along with other items in her women's accessories shop. She generates lots of interest on social media--posting pictures on Facebook, Instagram and other sites. Her pictures show colorful silk scarves arranged in puffs and folds on real people. These pictures demonstrate how her scarves can enhance any number of outfits. Customers order from her website and stop in her shop. Many purchase other things as well. Irene has found the key to engaging her customers.
Example: Bob is an accountant who sees clients only at tax time. He decided to take it to the next level. He emailed his clients, inviting them to an off-season group meeting. He would be talking about the latest tax rulings and regulations, answering all questions. He would also demonstrate new software they would find interesting. And he posted the session on social media, inviting all for coffee and cake. The meeting was very successful. Bob became the go-to expert for tax information and business accounting. And they spread the word in the community.
Example: John runs a furniture store. When a customer came looking for a recliner, John mentioned a matching sofa. Seeing no interest, he changed the conversation. He talked about room layouts and design. He put some computer layouts to work in explaining how a room could be transformed. This elevated the customer's interest to a new level, and it brought a one-time shopper back again and again. The customer referred others interested in seeing computer layouts for their needs and interests.
Turn customer contacts into fun experiences, educational sessions, and a go-to place for information. The idea is to position your operation at the forefront of your customer's mind. Engage you customers and they will come back again and again, bring others with them.
Put your customers at ease, educate them, entertain them, show you are interested in them. They will reward you with more purchases and referrals.
Monday, November 16, 2015
Get rich with small biz
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to help you better manage your small business
Getting rich can be a by-product of your chasing your dream business. Becoming wealthy might not be the goal, but it can happen.
The reasons to set up a small business are many. They have to do with chasing that dream, being your own boss, seizing an opportunity, pitting your smarts against the marketplace, and earning a living.
Example: Ellie loved brownies. She knew there was a big market for them--to punch up meetings and to put the finishing touch on corporate and other events. But Ellie did not have a bakery, nor did she want one. She made arrangements to use a licensed kitchen--starting with a restaurant that was closed on Mondays. She began baking brownies and promoting on social media. She experienced immediate success, shipping to clients from her website and finding new ones on social media. Ellie ran the business for five years, growing every year. Then she sold out and retired.
Example: Ranjeet is an expert in information technology. With social media exploding, he saw a unique market opportunity. He quit his corporate job and set up a small business showing other small businesses how to take advantage of the enormous opportunities they could access, using social media to grow their businesses. Today, Ranjeet employs several people and has hundreds of clients. Ranjeet is on his way to becoming rich.
Example: Jon was a young man in a hurry. He used a sizable inheritance to establish an architectural artifacts business. He bought an old warehouse and filled it with items recovered from buildings being demolished. His stock included old windows and doors, iron fencing, antique gingerbread and banisters, hardwood carvings, used brick and much more. His clients are architects, designers, contractors and homeowners. He even recovered a motherload of yellow pine flooring, virgin wood dating back to the 1800s. Jon turned his inheritance and his dream into a business attracting well-heeled clients from far and near.
Getting rich depends on your efforts, your dream, your management, your alertness, your hard work and other things in your control.
Your dream is yours. Turning it into reality is up to you. It can put you on the road to becoming rich.
to help you better manage your small business
Getting rich can be a by-product of your chasing your dream business. Becoming wealthy might not be the goal, but it can happen.
The reasons to set up a small business are many. They have to do with chasing that dream, being your own boss, seizing an opportunity, pitting your smarts against the marketplace, and earning a living.
Example: Ellie loved brownies. She knew there was a big market for them--to punch up meetings and to put the finishing touch on corporate and other events. But Ellie did not have a bakery, nor did she want one. She made arrangements to use a licensed kitchen--starting with a restaurant that was closed on Mondays. She began baking brownies and promoting on social media. She experienced immediate success, shipping to clients from her website and finding new ones on social media. Ellie ran the business for five years, growing every year. Then she sold out and retired.
Example: Ranjeet is an expert in information technology. With social media exploding, he saw a unique market opportunity. He quit his corporate job and set up a small business showing other small businesses how to take advantage of the enormous opportunities they could access, using social media to grow their businesses. Today, Ranjeet employs several people and has hundreds of clients. Ranjeet is on his way to becoming rich.
Example: Jon was a young man in a hurry. He used a sizable inheritance to establish an architectural artifacts business. He bought an old warehouse and filled it with items recovered from buildings being demolished. His stock included old windows and doors, iron fencing, antique gingerbread and banisters, hardwood carvings, used brick and much more. His clients are architects, designers, contractors and homeowners. He even recovered a motherload of yellow pine flooring, virgin wood dating back to the 1800s. Jon turned his inheritance and his dream into a business attracting well-heeled clients from far and near.
Getting rich depends on your efforts, your dream, your management, your alertness, your hard work and other things in your control.
Your dream is yours. Turning it into reality is up to you. It can put you on the road to becoming rich.
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