Business Management

2 Ways Your Business May Be Guilty

July 29, 2011 By Jan Triplett Leave a Comment

Franklin was right. Photo by Paul Hudson.

In 1789, Benjamin Franklin said in a letter that there are only two things you can be certain of death and taxes.

He was certainly right about the taxes. Especially sales tax. We are hearing from clients and accountant colleagues about the increase in sales tax audits. These are turning out not to be friendly, let’s talk audits but somewhat nasty, prove you’re innocent audits where the assumption is that your business is not paying what it should.

The real issue is not whether you’re paying but whether you’re collecting, then paying. Since that’s what you are really doing. You’re the Sheriff of Nottingham and Prince John wants his due. [Read more…]

How Legacy Pricing™ Works

July 19, 2011 By Jan Triplett Leave a Comment

Price right. Image by TW Collins.

There’s nothing wrong with Cost-plus or Value-based pricing when they are done right. Both are good strategies but incomplete in my opinion.

In the case of Cost-based pricing, basically you look at the costs and then add a percentage for profit on top of that number to arrive at a price.

In my experience, those who set the prices don’t know, forget, or leave out costs that they shouldn’t. Sometimes it is the cost of the salary of the principals or putting in enough for contingencies. Just as often they don’t include all the costs involved in being able to provide this product or service before and after getting customer #1. Then there are the true total costs to support and maintain this customer with this product or service. [Read more…]

Want a Mentor? Look around you.

March 2, 2011 By Jan Triplett 3 Comments

Business Success Center prospects tell us in their initial meeting they want a “Mentor” to advise and guide them to solve a specific problem or achieve a specific goal.

I completely understand. I’ve had several wonderful mentors. My godmother, Northwestern University professor Alvina Krause, had “teas”. At these salons, I learned the fine art of conversation. My grandmother taught me the importance of family. My mother helped me find my voice and be comfortable being myself. She always said, “We grew up together”. Maybe so, but she was my guide.

There were important male mentors, too. My brother Bill (aka WC Triplett, II) has worked for Presidents and Senators, Tibet and Tienanmen, written best sellers and significant treaties. He showed me how important it is to get involved. Ed Van De Vort gave me confidence because he believed everyone was capable. [Read more…]

6 Situational Outcomes™: Because Not Every Customer Wants a Solution

February 3, 2011 By Jan Triplett 1 Comment

Your best customer wants something specific to happen when they use your product or service.

It’s common wisdom that what people want is a solution. There is even a school of sales training and many books around the concept of “solution selling”.

I disagree. Not everyone wants a solution, i.e. something solved.

Sometimes they want and need something else. Not everything is a “problem” for a customer; sometimes, it’s a “gap” that needs to be filled. I talk to my clients about “gaps” not “problems”.

I referred to these five valued outcomes in my “Best Practices in Pricing” session at ProductCamp Austin. (My slides from the session are on Slideshare .)

In my 30 years experience, there are actually six different results a customer values. The one to stress as a benefit and to base your product or services features depends on the Platinum Customer Profile™ of your best customers. [Read more…]

Best Pricing Practices: 3 Right & 3 Wrong Ways to Price

January 12, 2011 By Jan Triplett 4 Comments

Price right & reap your reward. Cartoon by Roger Stewart, Porthole Productions.

I have proposed a topic, “Best Practices in Pricing”, for ProductCamp Austin. If you’ve never been or ever heard of it, it’s a great day of free business information for product managers, business owners, and those thinking of starting a business. Attendees select the topics the day of the event so they get to hear what they are most interested in that day.

Although the session has sold out, there is a waiting list. I encourage you to get on it. For more information on Austin Product Camp, go to http://productcampaustin.org. For information on my session on Pricing and the 39 other great sessions, go to http://bit.ly/e6chc0. [Read more…]

Why Lefties Make Better Salespeople

January 10, 2011 By Jan Triplett 4 Comments

Left-handers rule!

My brother gave me a copy of A Left-Handed History of the World by Ed Wright for Christmas. As my husband, Daniel, said, that’s much better than a previous gift of 101 Uses for a Dead Cat by Simon Bond. Others found it amusing, as a cat lover, I did not.

I am left-handed. It was interesting to read about other prominent lefties. Some of my favorites include: Queen Victoria, Charlie Chaplin, Michelangelo, Leonardo da Vinci, Madame Curie, Henry Ford, Ramses the Great, and Joan of Arc. Several US presidents (Reagan, Ford, George W. Bush, and Clinton) were on the left – when it comes to hands at least. [Read more…]

State of Texas Small Business Survey

September 11, 2010 By Jan Triplett Leave a Comment

No ivory tower wanted here. Instead let’s tell them like it is!

I have been asked to testify before the Texas Senate’s Economic Development Committee about our small business climate. I have my own observations from my clients but I would like input from other business owners and hope you will make sure I have the best information to give them about what we want and need.

I have put together a 10 question survey. Click here to take survey. This is your chance to be heard.

Thank you and please respond before Sept. 15. I will post what happens at the hearing so check back.

Special thanks to Jules Says and Julie Gomoll for helping me with the technology to do this. And I want to thank Will Newton, Executive Director of National Federation of Independent Business in Texas for asking me to do this and Senator Mike Jackson (District 11) for requesting this information for his committee.

Here’s to our success!

7 Small Business Recommendations to the President & Congress

January 29, 2010 By Jan Triplett 6 Comments

Mr. President, as a small business owner for over 25 years it was very encouraging to hear you acknowledge some of our contributions to the economy.

According to the Small Business Administration (SBA) Office of Advocacy, small businesses have been responsible for all the net new jobs since the 1970’s. We are the ones that hire and train most first time job seekers or retrain returning workers.

We are also credited with inventing: the airplane, audio tape recorder, fiber optic examining equipment, heart valve, optical scanner, Pacemaker®, personal computer, soft contact lenses and the one thing none of us can live without, the lowly zipper. SBA research indicates that small businesses produce 13 to 14 times more patents per employee than large firms. My own father was one of those inventors. [Read more…]

Podcast: State of Texas Business Today

January 26, 2010 By Jan Triplett Leave a Comment

The Texas Tribune talks to small businesses.

Podcast with Jan Triplett, one of the Texans giving their perspective on the State of the State

How are we doing? Since there is no legislature in session, the Governor will not give a state of the state address this January. So Ben Philpott of KUT radio (90.5FM) and the Texas Tribune asked some of us who are living through it to give our perceptions.

The interview, entitled “Their State of the State”, is worth a listen. You’ll hear what I, the Comptroller’s representative R J Desilva, and others have to say about how well Texas business is doing. [Read more…]

Making Decisions in Tough Times

October 30, 2009 By Jan Triplett 1 Comment

Everyone is struggling in this recession. I’ve given this presentation a couple of times now and received really good feedback. I help you figure out not only how you make decisions but also how your partner, boss, and customer make decisions. My premise is that if you know the motivations behind decision-making, you can achieve your goals much more efficiently.

Making Decisions in Tough Times

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