Is your business on course?

How’s your business doing? Do you know what’s missing? Start to find your way by answering a few questions and using tools that are focused on your goals.

How to Set the Best Price

Pricing a problem? Photo by luz from flickr

Is determining the best price a problem? Photo by luz from flickr

Are you having trouble determining how to set the best price for your products or services? That seems to be a common problem for owners of independent businesses.

Do it right and customers will be content, happy to pay you what you deserve, and you’ll be around. Do it wrong and you won’t. It’s that simple.

The best pricing system takes these 8 items into consideration:

  1. True total costs
  2. Profit
  3. Contingency
  4. Overhead
  5. Payback for investment
  6. Positioning
  7. Value
  8. Time

You may think you know what each of these mean.  See if you do and if you agree with me. [Read more...]

Writing Posts Dilemma; Seeking Solution

I have a dilemma about writing posts. Instead of stewing about it, I thought I would write a post about it. Maybe some enterprising person has a solution.

The Problem

It’s not writer’s block. I can handle that. Here’s my dilemma: too much to do at the same time and no time to write posts or finish posts I start. I want to write but I really need to:

  1. Renegotiate the office lease.
  2. Entertain several set of out-of-towners, family members and friends who want to see our spectacular Texas wild flowers, celebrate birthdays, see me. I also need to host several business events and meetups.
  3. Make presentations and attend other training sessions.
  4. Talk to prospects, potential allies, media, and government officials.
  5. Work with new clients on their overall vision, positioning, marketing plan and develop a workable sales process with them. Some are startups who need to work through and create financials. Two are expanding.
  6. Maintain the progress of existing clients: a landscaper, asset manager, two software developers, and a security company. Keep in contact with former clients who are working on projects we put in place: an architect, 2 environmental firms, and others.
  7. Volunteer.
Not Schubert but like me, this piece has a lot going on. Photo by pfly from flickr

Not Schubert, but like me, this piece has a lot going on. Photo by pfly from flickr

When can I squeeze in writing posts when I have other things to do? Maybe that’s why, like Franz Schubert, I have unfinished works.

Here’s what I’ve tried:

a. Time management and delegating. That helped but too many variables right now to do it right.
b. Setting up an editorial calendar so I could write as planned. Got the calendar but got interrupted.
c. Multi-tasking. I always thought I could multi-task until I learned that the brain does not work that way. We  just think we can do several tasks at once.
d. Not sleeping. I have pre-thought out the posts that come to me at 3am. Wish I could harness that and they could magically appear.

(I wonder if Schubert tried any of the above. He certainly knew how to write.)

Composer Franz Schubert

Composer Franz Schubert

And, this is what brings me to my search for a solution. I know from my research on small business that in addition to being the job creation engine, paying 60% of the taxes, we are dollar per dollar more innovative than big businesses. After all, we created the zipper, the airplane, and contact lenses. How hard could this be?

The Solution

I appeal to those of you who are inventors, creatives or problem solvers. I need your help.

Here is what I want and what I am willing to pay for: a mechanism (electronic or other) that pulls out of my brain (without disturbing me from the other things I am doing) the great posts I have formed in my head.

Your solution must write posts AND:

  1. Put in all the tags, categories, links, etc.
  2. Create the Custom Title Tag, Meta Description, Meta Keywords.
  3. Find a grabbing graphic, get permission to use it or create it new, size and put it in place — with a killer caption.
  4. Proofread and edit the copy verifying the accuracy of the information while making sure it is in keeping with my “style”.
  5. Create interest in the post, get comments, get people twittering about it.
  6. Allow me to do all of the other things I need to and want to do.

But, I don’t really want a copywriter. I like to write.

Hoping patiently to hear from you asap because my MUST DO list keeps getting longer. Alternatively, I’d be happy to commiserate on your post-writing problems. Misery loves company as they say.

Thank you.

6 Ways to Improve Your Sales Projection Formula

Measure sales carefully to be profitable.

Measure sales carefully to be profitable.

Your sales projection formula is key to more accurate financial projections and to the success of your business.

Sales projection formulas are always wrong. Here are six ways to improve them.

Sales projection formulas are wrong because…

  1. Sales projections are not supposed to be right.
    They’re a snapshot of what to expect each month based on relevant criteria and are defensible. Improve the sakes projection formula you use by making sure you don’t accept the projected sales numbers without question. The answers you get from salespeople in terms of what they think will close have to be reasonable and with some sort of basis not just hope. [Read more...]

7 Ways Conflict is Good for Business

Positive Conflict requires thinking outside the box. Illustration by Mamadob

Positive Conflict™ requires thinking outside the box. Illustration by Mamadob

Conflict is valuable in the workplace. In fact, it’s actually good for business.

You might not have thought of it as being positive but it can be when people use care with each other and stakeholders. They also have to put something like the BSC’s Fight Fair™ strategy  in place.

I just had the opportunity to spend two days working with the staff of an Inc 5000 company on improving their communication. This is a high quality small business but staff members and the owner wanted to make sure they were dealing effectively with the internal and external conflicts that come up in every business.

The first thing I did was ask them to complete a survey to get their opinion of conflict. It was interesting to see that almost none of them thought of it as being positive. However in the work session, they got it and they saw it first hand as we worked through various scenarios that they deal with when working together or working with customers and other stakeholders.

Conflict’s Origin Suggests Its Potential Threat AND Value

Conflict comes from the word “conflictus” which means “striking together”. There are many times that objects striking together result in something good. A drumstick striking a drum makes music. A flint striking another piece of flint creates sparks and fire. A bell clapper striking a bell tells the time.

7 Ways Positive Conflict™ is Key to Business Success

The staff came to recognize the value of conflict when they experienced it without the potential of personal threat, insult, or put down. That’s “Positive Conflict” and it builds on itself. It happens in internal (within the organization) and external (with customers and other stakeholders) conflict situations. With Positive Conflict™:

  1. Ideas are more valuable and better because they are challenged.
  2. The challenge becomes a valuable learning tool for the individual to think and work more consciously.
  3. The group learns to trust one another because they have been through the conflict.
  4. The share experience gives everyone the opportunity for growth and makes for better teams.
  5. Those teams make better cross department allies since they know how to “fight fair”.
  6. Because they “fight fair” they have good feelings about themselves and others.
  7. Their sense of pride and accomplishment of improving ideas through positive conflict™ reduces the amount of negative or destructive conflict that occurs.

The next time you think conflict has no place in the workplace, think again. What would it be like if everyone always agreed to everything and then the company acted on that? Lots of businesses could irreparably harm themselves or others. Does your business encourage the right kind of conflict and the right way to manage it?

If you have conflict that’s negative, check out available resources at Conflict Resolution Network out of Australia. They have some good information.

 

 

 

 

 

Partner or Strategic Alliance?

Partner or Strategic Business Alliance

Partner or Strategic Business Alliance? Photo by Giorgio Montersino

Partner or a strategic alliance — which is better for business growth? Many business owners want a “partner” to  share the load. Partners exert a lot of control no matter how little of the business they own. Use a strategic alliance instead to grow your business and  keep more control.

What is a Strategic Alliance?

The most accepted definition of a strategic alliance is that it’s “a formal or informal agreement between two or more individuals or entities to achieve a common goal”.

In 2005, companies reported that 18% of their revenue was generated through strategic alliances. The economy has changed but there are still thousands of alliances formed each year.

I agree with Winston Churchill. “If we are together, nothing is impossible. If we are divided all will fail.” [Read more...]

Replace Yourself with a Virtual Sales Manager

Bright idea: replace yourself with a Virtual Sales Manager

Bright idea: make more money by hiring a Virtual Sales Manager Photo by EJ Posselius

Does replacing yourself as the salesperson sound ideal? If you hate to sell, maybe you’ve thought about hiring someone to do sales for you. Maybe you don’t want to have just an employee. Maybe you’re looking for a Virtual Sales Manager to manage the whole process and help sell.

They do exist. I do it for some of my clients. Not all of them are one person operations either!

How do you make sure they’re the right person or you’re hiring the right company? Be careful! [Read more...]

Use Family Business Loan to Hire Employee Gems

Austin’s Family Business Loan was described as a way to encourage small businesses to hire at an Austin Human Resource Management Association meeting.

It’s financed under the U.S. Department of Housing & Urban Development  (HUD) Section 108 Loan Program in association with the U.S Small Business Administration, private banks and credit unions. The funds are to benefit businesses and people who fit the profile of “HCU”, hard-core unemployed. [Read more...]

IRS Tax Calendar: Protection for Small Business

Get the IRS Tax Calendar for the safety and protection if you’re a small business owner or self-employed.

Protect your small business with this year’s IRS Tax Calendar. This is also known as “The Tax Calendar for Small Businesses and Self-Employed” (Pub. 1518, Catalog Number 12350Z). It’s a scary world out there!

It’s back in print. Hurrah! We’ve missed having them. We used to give these out each year to our clients because they are really valuable. They have also been known to cause nail-biting and hair-pulling. Unfortunately, all the Spanish language wall calendar print versions are gone and will not be re-printed. Maybe next year they will print more since Hispanic businesses are one of the fastest growing startup groups. [Read more...]

6 Ways to Improve Everyone’s Online Coupon Experience

Can you and the merchant have a better online coupon experience? Yes, if everyone does their part. You have as important a role to play as they do in making this a win-win situation.

This is the second post. The first post,  Forever Coupons, was written to make sure everyone knew that online coupons were really gift certificates.  They have a lifetime (or more than a lifetime) expiration date.

There are at least six things as a consumer you can you do to make the most of your online coupon experience and purchase. [Read more...]

7 Ways to Have a Strong 4th Quarter Finish

Still time for 4th Quarter growth in your business. Photo by ItzaFineDay

You deserve to have a strong 4th quarter finish. It’s time to harvest what you have reaped all year.

If you still need to sew some seeds to accomplish goals, we recommend the following: [Read more...]