Turning Hidden Capabilities Into Revenue
Change is Constant Markets and customers' business needs change. New technologies render old ways of doing business obsolete. As the economy fluctuates, customers have either more or less money to spend on your products and services. New competition emerges and existing competition alters the way they do business. Challenges Despite these changes, you want to [...]
Turn Time into Money
For business owners, time is money. There are never enough hours in the day to accomplish everything. Here are several suggestions to help you make the most of your time and develop more business. Recognize that time is divisible. If you try to multi-task, you should be aware of the time needed to shift mental gears. Unless the shifting [...]
Numbers To Build Your Business
How do you build your business? Do it by the numbers. It may sound simple, but it’s hard work. Use numbers to track how your business is performing. They also help determine your future direction. Every business has key performance indicators (KPI's). Some KPI's apply to all businesses while others apply to specific types of businesses. The KPI's are metrics [...]
Make 2012 Your Best Year
As you launch a new business year, it’s a great time to lay the groundwork for success! Below are some steps to create a successful year: Conduct a Financial Check-Up Check your Profit and Loss, Income and Expense reports. Review your sales reports to identify profitable and sub-par performance areas. Analyze sub-par areas and decide whether to eliminate or strengthen them. Review [...]
Increase The Odds of Business Success
Small businesses face a host of challenges. Only a small percentage reach their fifth anniversary. Most people start out with a dream, roll the dice, and jump in feet first. You can reduce risk and increase your chances of success by taking the steps outlined below. Plan to Succeed. A well thought out Business Plan can [...]
Three Typical Problem Customers
When the best customer is NOT the one you already have—meet the Demander, the Abuser, and the Dodger. The Demander is the client who takes advantage of your services. No matter how much you deliver, he demands more and wants to pay less. Increase the amount of time you service this customer and cut your [...]
4 Steps to Consider Before Firing A Customer
Identify and evaluate problem customers to determine when it’s time to restructure the relationship— or when it’s time to cut your losses and move on. Put a stop to problem clients who take advantage of you, abuse you, or fall behind in payments. Appraise the cost of keeping the accounts, consider restructuring the way you [...]