The number one reason businesses fail is a weak value proposition. Here are some strategic tips to pitch attention-grabbing ROI to your target buyers. When you sit down to work on your business, the first question you should ask yourself is “what is my value proposition?” When we first ask that question, what we usually start to get is a list of products or services that the business provides. Other times, we get
When it comes to dealing with the issue of having enough cash to run your business, a knee-jerk reaction to tightening cash flow is to hit the brakes on the invoices piling up for you to pay. The phones start ringing with people chasing their money, your employees spend precious time managing conflict, and ill-will within your trusted relationships grows by the day. Sleep, productivity, profitability and personal satisfaction become long lost memories.How much of
Customers lie. They do it all the time. They don’t do it to hurt your feelings, rather they do it to protect your feelings and avoid confrontation with you. Have you ever thought all was well with a client, and even asked them how things were going and had them tell you “great”…and then, without any reason or warning, they were gone? That customer didn’t tell you there was a problem, but there were warning
Think about the last time you were unexpectedly out of the office for the day. No matter the reason, you weren’t there and one of two things happened: Either your mobile phone rang all day long with issues at the office, or it didn’t ring at all, leaving you to wonder what the heck (if anything) was going on. In either case it was a huge headache for you, in addition to whatever it was
We are a nation of small businesses…and therein lies the problem. Most large companies understand that they must make the investment in additional training for their employees in order to improve business results. On the contrary, small business owners rarely make that investment and those that do usually look to that expense first when cost-cutting measures are needed. What keeps $1m companies from growing to $5m, or $5m becoming $20m? Some say access to capital.
Do you think your sales & marketing results are terrible simply because of a poor economy? If so, think again. Many companies are achieving better results now than ever before. The Winners and Losers Those organizations that are investing in improving their sales & marketing skills are seeing a significant return on their investment. They’re the winners. So it should come as no surprise that those that are cutting development budgets and staff members
Cash flow is the lifeblood of every business. All too often though, business owners fail to pay enough attention to bringing cash into the company as quickly as possible. Next thing they know, there is not enough money on hand to pay staff, suppliers and vendors. There are several key things business owners can do to try and make sure this never happens to them. The idea is to be consistent with your approach to
During the start-up phase it’s called ‘boot strapping’ and it is essential. Resources are usually pretty tight. Once established, the desire to do it all stems from the feeling that no one else can do it as well. Likewise, a general lack of planning and discipline and focus on business issues can have you holding the bag more often than you’d like. Business is a continuum. Time waits for no one and you are either moving
A primary responsibility of running your own business is developing, improving and executing a strong communication strategy with your employees. Branding your business as a great place to work has significant benefits and your reputation as an effective leader will attract top talent to your organization. While identifying the traits that make a good leader may be easy, developing those characteristics is often a difficult undertaking. In some cases leadership comes naturally, but for most
Need more customers? Ask yourself: “Who am I marketing to?” Simple question, right? Perhaps not. Answering that question significantly narrows the field from the entire universe to your actual target audience. If you need more customers, the trick is to define your target market so effectively that you can describe an ideal customer in specific detail. “Men aged 25-40” is simply too broad a group as it includes both a recent immigrant just learning English,
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