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Hub You - Top Ten Resolves for Building Your Business in 2005
This week I was asked to speak at an internal conference for a bank. The subject was how to build a great customer experience. However, the reality was somewhat different to the title. I sat listening to speaker after speaker - all coming along with the same message “how can we stuff more products into our clients and achieve our targets”.As I sat there I started to think, why do people say one thing and do another? Do they really think people are that stupid that they cannot see the conflict between the words and the actions? So, as the speakers droned on and on about product X and revenue Y, I thought “what are the tell tale signs that
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your b
Market timing is like a piece of art evolving towards its final destiny. Companies spend millions of dollars isolating focus groups to determine whether or not an idea has an end home or customer loyalty potential. The complexities and comparative analysis to current market conditions and overall past performance for like products is enormous. You can have the most creative idea backed by a company that can take your baby to the market but if it the economy is going in the wrong direction and you are selling diamonds then perhaps the best product design won’t sell due to timing.Key factors that play out in the overall sales performance
Since referrals are easier to sell, are often more loyal, comparison shop less, spend more and frequently refer others, it makes good sense to develop a solid system for getting referral business. Join a successful networking club in your area or on the internet and give plenty of introductions to other members. Ask your current clients for referrals, make getting referrals a condition of doing new business, give out your business card frequently, develop a networking mindset. It is part of being successful.
2. Resolve to make a plan for developing your business this year.
What worked in 2004? What results would you like to duplicate, modify, eliminate or expand in 2005? Become strategic. Study your competition to identify new trends and compelling advertising phrases or techniques that you could tweak slightly and utilize as well. Then by looking at your budget for the whole year, map out the marketing and advertising activity, on a month-by-month basis, that will support the results you want for 2004.
3. Resolve to develop a customer-driven business.
What we are looking for in business is customers to purchase our product or service, right? It makes sense to have your business focus on the customer and what he wants and yet many businesses fail because they don’t ask. If you want a larger market share, let the customers tell you what to produce or provide. Basic market research will help you determine the products and services with the most likelihood of success. There is no other place to look.
4. Resolve to develop new streams of income and strengthen those you already have.
Did you ever think that there may be more streams of income to add to what you already do thereby increasing your bottom line? Perhaps it is a passive income such as selling products on the web or maybe it is packaging your product in a new way. Use your creativity, study other successful businesses and practice thinking “out of the box”.
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your b
Today required franchise disclosure documents are over 200 pages generally. How many pages do you think the Uniform Franchise Offering Circular; UFOCs were 35 years ago for these ten-foot tall pillars of the franchising community like Kroc, Monhan and Rosenberg founded their companies? They were of course the founders of McDonalds, Domino’s Pizza and Duncan Donuts.Look at the modern day UFOCs now as franchising companies try to crystal ball every possible eventuality, thus putting the franchisors and franchisees into an unworkable box for fluidity of motion. If you study the competitive aspects of business in relation to war you will see
2. Resolve to make a plan for developing your business this year.
What worked in 2004? What results would you like to duplicate, modify, eliminate or expand in 2005? Become strategic. Study your competition to identify new trends and compelling advertising phrases or techniques that you could tweak slightly and utilize as well. Then by looking at your budget for the whole year, map out the marketing and advertising activity, on a month-by-month basis, that will support the results you want for 2004.
3. Resolve to develop a customer-driven business.
What we are looking for in business is customers to purchase our product or service, right? It makes sense to have your business focus on the customer and what he wants and yet many businesses fail because they don’t ask. If you want a larger market share, let the customers tell you what to produce or provide. Basic market research will help you determine the products and services with the most likelihood of success. There is no other place to look.
4. Resolve to develop new streams of income and strengthen those you already have.
Did you ever think that there may be more streams of income to add to what you already do thereby increasing your bottom line? Perhaps it is a passive income such as selling products on the web or maybe it is packaging your product in a new way. Use your creativity, study other successful businesses and practice thinking “out of the box”.
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your b
If you’ve listened to some radio ads lately you may have picked up on something, right as you punched the button to change the station. And that is that most radio spots, and by that I mean about 97%, are boring or just plain annoying... and boring.One problem is that many advertisers rely on the station to write and produce their spots. And who can blame them? The stations usually offer those services for free. And the word “free” is the operative word here as in, “you get what you pay for” free.Most stations make their account executives take on the added job of writing the copy. Still sound good to you? Think about it. The
3. Resolve to develop a customer-driven business.
What we are looking for in business is customers to purchase our product or service, right? It makes sense to have your business focus on the customer and what he wants and yet many businesses fail because they don’t ask. If you want a larger market share, let the customers tell you what to produce or provide. Basic market research will help you determine the products and services with the most likelihood of success. There is no other place to look.
4. Resolve to develop new streams of income and strengthen those you already have.
Did you ever think that there may be more streams of income to add to what you already do thereby increasing your bottom line? Perhaps it is a passive income such as selling products on the web or maybe it is packaging your product in a new way. Use your creativity, study other successful businesses and practice thinking “out of the box”.
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your b
Pick up any business publication today and it is likely you will see at least one article on the subject of employee engagement. Employee engagement is the degree to which employees work with passion and feel a profound connection to their company. Gallup International recently reported that businesses in the top 24% of employee engagement had less turnover and a higher percentage of customer loyalty, profitability and revenue.The research into employee engagement goes on to say that trust in the workplace is the foundation of employee engagement. If that is true, it would be useful if we could get a better idea of what really constitu
4. Resolve to develop new streams of income and strengthen those you already have.
Did you ever think that there may be more streams of income to add to what you already do thereby increasing your bottom line? Perhaps it is a passive income such as selling products on the web or maybe it is packaging your product in a new way. Use your creativity, study other successful businesses and practice thinking “out of the box”.
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your b
A small business merchant account may be just what your company needs to edge out the competition. If your customer base is growing or they are asking increasingly for credit payment options as well as for information about your products and services, a merchant account can answer their questions and help to grow your business while leaving your competitors in the dust.It is easy to apply for a small business merchant account. Just find a merchant account provider, which you can do by searching the Internet using relevant key terms. Browse the many sites offering this special type of commercial status before choosing one. Terms and fees v
5. Resolve to take control of your business and strengthen your leadership qualities.
One of the best ways to take control of your business is to make sure you have written standards in place for every job. This process of developing standards, policies and procedures for every operation in your business, in addition to being good management, is what provides leverage for you to vacation or sell your business one day. Ray Kroc of McDonalds developed his super business without flipping a single burger because he took the time to set standards for how he wanted the job to be done each and every time. As a result, Kroc hired teenagers to run the business with unparalled success. Setting standards and enforcing them will elevate your leadership skills beyond measure.
6. Resolve to target your ideal market and customer.
Too many small business owners are working with every entity who cares to do business with them even though it may not be cost-effective. In 2005, decide to focus on the market that would best serve your company in the long-run. Increased customer share (having fewer customers spending more money with you) may be more profit making, simple and satisfying than trying to please many diversified customers.
7. Resolve to consistently generate more leads and sales.
Consistent marketing to your target market will produce more overall leads to generate business consistently throughout the year. Eliminate more of the highs and lows of your income by making a commitment to market activity that locates those contacts, appointments and resultant sales, daily and weekly.
8. Resolve to take good care of yourself this year.
Business owners work hard. Sometimes they forget to pay attention to their own health or to their families and everyone loses out in the long run. This year, plan to take some time and be with those you love. Everyone will appreciate this resolve. Learn how to have fun…even.if it is uncomfortable and relax. Maintaining balance between business and personal activity is key to long-term success.
9. Resolve to ask for and use the support of others.
Get in the habit of asking others for support to bounce off an idea, listen to your goals, share in your success. Consider hiring a coach or asking respected colleagues to be part of an advisory board. Regular meetings will help you
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