Mar 062013
 

marketing mistakes, value proposition, ideal customer

1. No Concept of the Ideal Customer

Many marketers have a completely product/service-centric view of the world. They know their product/service up, down and sideways, but have only a vague idea of who might actually want or need it, or how they’d actually use it. Worst case, the marketers don’t think that’s important because their product/service is so “state-of-the-art” that it’s obvious why it’s a good thing to buy.

2. No Time Spent Listening to That Type of Customer

Even when marketers DO have a concept of the ideal customer, they often spend little time actually listening to those customers. They do “market research” and run demographic numbers, but when it comes to just Continue reading »

 March 6, 2013  Posted by at 5:00 AM Growth Tagged with: , , ,  No Responses »
Mar 042013
 

education, learn to earn, trial and error, positive mistakes, learning to run a small business, student of business

Click here to learn the key to your small business success.

Click here to find out how “Learning more” will help you with “Earning more”.

 

If you enjoyed this post, I would be grateful if you helped spread the word by emailing it to a friend or sharing it on LinkedIn, Twitter, or Facebook. Thank you!

 March 4, 2013  Posted by at 5:00 AM Visual Quote Tagged with: , ,  No Responses »
Feb 252013
 

Create leverage, create systems, build a business 

Click here to learn more about creating leverage.

Click here to learn more about creating systems.

Click here to learn more about building a better business.

If you enjoyed this post, I would be grateful if you helped spread the word by emailing it to a friend or sharing it on LinkedIn, Twitter, or Facebook. Thank you!

 February 25, 2013  Posted by at 6:00 AM Visual Quote Tagged with: , , , ,  1 Response »
Feb 202013
 

 

passion, focus, hard work, enjoy the journey, trust your gut, rely on your team, long term success, honest and integrity, execution

But what else does it take to succeed as an entrepreneur, and how should an entrepreneur define success?

Here’s what I came up with, a Top 10 List:

10. You must be passionate about what you are trying to achieve.

That means you’re willing to sacrifice a large part of your waking hours to the idea you’ve come up with. Passion will ignite the same intensity in others who join you as you build a team to succeed in this endeavor. And with passion, both your team and your customers are more likely to truly believe in what you are trying to do. Continue reading »

 February 20, 2013  Posted by at 6:00 AM Leadership Tagged with: , , , ,  No Responses »
Feb 062013
 

mix business and pleasure, win win, keep it professional

It’s easy to create mental barriers between “friends” and “business.” But there are ways to nurture business relationships with friends–without jeopardizing either. Here are three things to be mindful of to make sure both sides are happy.

1. Seek the win-win.

Put yourself in the shoes of your friend and seek out ideas for how you might be able to solve his or her problems. The stakes don’t have to be particularly high early on; the key is to find a way that you can both benefit from an initial business interaction. A quick win can be something as simple as sharing connections or finding similar challenges that you can problem-solve together. Regardless of the situation, find some way to help each other and keep the conversation alive so you can continue to find situations that benefit both parties in the future. Continue reading »

 February 6, 2013  Posted by at 6:00 AM Leadership Tagged with: ,  No Responses »
Jan 232013
 

planning, achievable goals, destiny, personal growth,

1. Plan a Preferred Future

As Lewis Carroll said: “If you don’t know where you are going, then any road will get you there.”  In 2013 take time to examine and discuss the details of every aspect of your lives, personal and professional, to achieve integrated success and happiness.

2. Be Pragmatic

In most of our near future, few of us will be playing for the NBA. The future has to reflect what is physically possible with available resources and limitations. We all need to create filters to keep us from wasting time and energy on what’s unachievable or irrelevant. See S.M.A.R.T. goals. Continue reading »

 January 23, 2013  Posted by at 6:00 AM Happiness, Visual Quote Tagged with: , ,  No Responses »
Jan 092013
 

 

business coaching, service coach, managing cash flow, seasonal businesses, test and measure, A customers, trust your team, ineffective advertising

We(Service Coach team) have found that growing a service business to fast is the reason why the majority of businesses fail in the first 5 years. Growing to fast ultimately leads to a lack of cash, and usually a very big cash flow problem. Taking the time to build your business, your team, and your systems is the way to ensure long-lasting profits.

As you grow your business, it is easy for you as a business owner to get seduced by the lure of easy money as you bring new customers into your business. However, Continue reading »

 January 9, 2013  Posted by at 6:00 AM Growth Tagged with: , , , ,  No Responses »
Oct 152012
 

Born Entrepreneur, Why Entrepreneur, Business Coaching, Passive Income, build a better business.

 

 

 

 

 

Did you read the E-myth yet? I decided this week to offer this book for free to my readers for 3 reasons.

  1.  You guys are awesome and I really appreciate that you have taken the time to click on my links and read/share my articles over the past year and a half.
  2. This book is my all-time favorite business book. I have gained so much from the information within these pages that I want my readers to have the same opportunity without the barrier of having to purchase the book.
  3. You deserve it! Being a business owner is not only the most rewarding job title out there it is also the most demanding.  So take some R&R time, sit back, relax, and enjoy some down time.

Do you want to learn more about creating leverage and building systems in your business?

If you would like to get a free copy, please comment below on why you want to build a better business and leave your physical mailing address in the comment.  I will then mail you a copy of the book after this offer has expired. This offer expires 10/31/2012.

Not sure what the E-myth is all about? It’s only the best business book of all time. Click here to read my book review.

If you enjoyed this post, I would be grateful if you helped spread the word by emailing it to a friend or sharing it on LinkedIn, Twitter, or Facebook. Thank you!

 October 15, 2012  Posted by at 6:00 AM Give Away Tagged with: , ,  8 Responses »
Oct 082012
 

cash management, cash flow, payment terms, managing business cash, manage accounts recieveables

Here are seven ways to recoup your company’s cash faster:

1. Offer a discount for early payment.

To incentivize your customers to pay you earlier, offer them a price discount if they do, and be sure to highlight it in the contract and invoice. Several of our customers take advantage of an early payment discount we offer, and sometimes even overnight a check to make sure they don’t miss our discount window.

2. Use online payment systems.

Several of our customers use online systems to submit invoices. If we participate in those systems, we find many of them will pay off their invoices within 15 to 18 days of receiving them. The best part is that the money is electronically deposited directly into our account. If your customers are not using an online system, consider setting one up for your company. An example is using a service called bill.com, which allows you to pay anyone or be paid by anyone electronically.

3. Require an upfront fee.

If you know that servicing a customer requires you to expend big dollars on its behalf, collect as much of that money as possible (if not all of it) right away. Submit an initial invoice, and insist it is paid on receipt, or outside of normal payment terms. Most companies understand the situation and are willing to accommodate.

4. Delay the work.

This is a hard one to do. But if you find yourself in the middle of a project and your customer delays payment, stop the process, and insist on having payment in-hand before you or your team finishes up the work. Often, this is the most valuable leverage a small business has in its arsenal.

5. Take credit cards.

This will cost you an origination fee, but the percentage might be worth it to help get you your money sooner–whether payment for your services, or coverage of upfront costs. Many accounting packages already have a built-in ability to take credit cards, too.

6. Invoice for lower sums, but more often.

When we invoice customers for large amounts of money, we find the invoices get stuck somewhere in the payment process. The dollar amount seems to have a lot to do with it. If we submit an invoice to a customer for more than $10,000, it can take 15 to 30 days longer to receive payment than a smaller amount of money. An invoice of less than $10,000 is more often than not paid very close to on-time. If you review the size of your customer base and dollar amounts you work with, you may also discover a breaking point between invoices that are paid quickly and those that languish on your customers’ desks.

7. Talk with your customers about accounts payable.

This might seem obvious but it’s often overlooked: Have a conversation with your customers about their accounts payable processes at the start of your relationship. You will find that knowing your customers’ processes will help you when you bid for new business.

If you enjoyed this post, I would be grateful if you helped spread the word by emailing it to a friend or sharing it on LinkedIn, Twitter, or Facebook. Thank you!

 October 8, 2012  Posted by at 6:00 AM Money Tagged with: , , ,  No Responses »