SET A GOAL FOR SUCCESS
“In the absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia.” ---Anonymous
“People often complain about lack of time when the lack of direction is the real problem.” ---Zig Ziglar
“It’s better to fall short of a high mark than to reach a low one.” ---H.C. Payne
“A man’s reach should exceed his grasp, or what’s a heaven for?” ---Robert Browning
PLAN FOR SUCCESS
“Have a plan. Follow the plan, and you'll be surprised how successful you can be. Most people don't have a plan. That's why it's easy to beat most folks.” ---Paul "Bear" Bryant
“A good plan today is better than a perfect plan tomorrow.” ---Proverb
“Don't judge each day by the harvest you reap but by the seeds that you plant.” ---Robert Louis Stevenson
ACHIEVE SUCCESS
“Self-discipline is the ability to make yourself do what you should do, when you should do it, whether you feel like it or not." ---Elbert Hubbard
“If I want to be great, I have to win the victory over myself … self-discipline.” ---Harry S. Truman
“Discipline is the bridge between goals and accomplishment.” ---Jim Rohn
Thursday, July 8, 2010
Wednesday, February 24, 2010
Common Sense vs Nonsense
"It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money -- that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot -- it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that, you will have enough to pay for something better."
John Ruskin (1819-1900)
Any war stories to share??
John Ruskin (1819-1900)
Any war stories to share??
Tuesday, February 9, 2010
Bookkeepers, AGH!!!!
Your company probably uses a bookkeeper to keep your records on Quickbooks or something similar. They are pretty good, not great, and get your taxes filed on time. Big deal. They work all 12 months for the once a year tax game.
But do they give you information to let you know how you're doing? That's something you need at least 12 times per year. And most don't do anything except publish an Income & Expense report. What about sales, comparing this year to last year, by product line or for your top 10 customers? What about looking at costs. Are they rising faster or slower than sales revenue? What about comparing your expenses to your budget. Are you spending too fast?
And my biggest complaint is that they group expenses for tax reporting, not for management information. I want them to break their sacred "Insurance" account out and include auto insurance with auto expenses, health insurance with people costs, and liability insurance with SG&A. And what about grouping all the 'executive compensation' together (salary, your wife's car, you kids' cellphones, your country club expenses, etc etc) so you can see what the business is really doing for you. They can put the expenses back into the 'proper' categories for tax reporting in March. But for the 12 months you look at informational reports, lets make them meaningful and clear.
You may not have this problem. You may not care. What do you think?
But do they give you information to let you know how you're doing? That's something you need at least 12 times per year. And most don't do anything except publish an Income & Expense report. What about sales, comparing this year to last year, by product line or for your top 10 customers? What about looking at costs. Are they rising faster or slower than sales revenue? What about comparing your expenses to your budget. Are you spending too fast?
And my biggest complaint is that they group expenses for tax reporting, not for management information. I want them to break their sacred "Insurance" account out and include auto insurance with auto expenses, health insurance with people costs, and liability insurance with SG&A. And what about grouping all the 'executive compensation' together (salary, your wife's car, you kids' cellphones, your country club expenses, etc etc) so you can see what the business is really doing for you. They can put the expenses back into the 'proper' categories for tax reporting in March. But for the 12 months you look at informational reports, lets make them meaningful and clear.
You may not have this problem. You may not care. What do you think?
Thursday, December 31, 2009
New Years Resolution - 10 for 10
This is the Year: 10 Important declarations for 2010
1. In 2010, my business brand will stand for …
2. My best customers will keep coming back because …
3. My goals for 2010 and 2011 are …
4. My financial plan for 2010 shows total revenue changing by _______
and profits increasing by _______.
5. I’ll balance the time I dedicate to my business with the time I spend with loved ones by …
6. I will have a set of actions, complete with target dates, to accomplish my goals. The actions planned for this month include …
7. My business, in its own small way, will help address societal problems by …
8. My will review business results, comparing them to my goals, and deciding whether changes are needed. The plan to do this is ...
9. The biggest challenges I’m addressing right how are …
10. When I have a tough business issue or decision to make, I’ll contact the following people to discuss it …
Why?
If you have this form filled out thoughtfully and are excited about your plans, congratulations. If not feel free to contact Barry Neagle at 774-238-6073 or bneagle@gmail.com. The first consultation is free in 2010.
1. In 2010, my business brand will stand for …
2. My best customers will keep coming back because …
3. My goals for 2010 and 2011 are …
4. My financial plan for 2010 shows total revenue changing by _______
and profits increasing by _______.
5. I’ll balance the time I dedicate to my business with the time I spend with loved ones by …
6. I will have a set of actions, complete with target dates, to accomplish my goals. The actions planned for this month include …
7. My business, in its own small way, will help address societal problems by …
8. My will review business results, comparing them to my goals, and deciding whether changes are needed. The plan to do this is ...
9. The biggest challenges I’m addressing right how are …
10. When I have a tough business issue or decision to make, I’ll contact the following people to discuss it …
Why?
If you have this form filled out thoughtfully and are excited about your plans, congratulations. If not feel free to contact Barry Neagle at 774-238-6073 or bneagle@gmail.com. The first consultation is free in 2010.
Monday, October 26, 2009
Make Retailing a Happening (HACC Flagship November, 2009)
Q: Dear Coach Barry: I run a small retail business in Centerville. My traffic is down this time of year, but I think I offer great items at great value during the winter. How can I keep the customers coming in to get me through the winter? – Anonymous
A: Dear Anon … Thanks for asking. If you’re going to be open, you need the year-rounders coming in all winter and spring. I suggest you work towards building a loyal following by staying in touch. The most impactful thing you can do is ‘buy’ your customer’s contact information and then use it to serve them. Suppose you offer a 10-20% discount on their next purchase if your customer gives you a phone and email address. As you collect the information, build a simple database and keep it handy in the store. After all, you can’t let people get the discount twice for giving you the same information !! Then do some simple things and use your information to get the word out.
Create a rollout of items. Introduce an item for the holidays, and tell them that there will be a companion item with a New Year’s theme for January, a Lover’s theme for February, a Spring theme for April, and a beach theme for June. Keep them coming back all the time.
Host an event with the rollout of the new items. A fashion show, or a wine tasting, or a trivia contest. Make it fun to shop with you.
Create merchandise that promotes your shop or restaurant -- How about a knit cap or tee-shirt with your logo and a clever saying. A hockey rink out of state gave away and sold boxer shorts that had “The Smell of Hockey” written across the bum. And who doesn’t have a coffee mug that says “Cuddles & Bubbles”. Most family restaurants sell shirts or water bottles with their name on it, but without a clever ‘must have’ saying, they mostly hang on the wall and get dusty. Make your advertising a collector’s item.
Thank-you cards – The last time you got one, it was probably from you mother. When did you last get one from a store or business? Wouldn’t it be impressive? Do it, and do it before your competitor does.
Call customers to say ‘thank you’ two days after they bought from you. Even if you only leave a message, think about the impact that will have. You’ll be the talk of the town.
And finally, with a data base of customer contacts, you can also do some of the techniques we talked about last month. Check out the October Flagship posting on this blog.
A: Dear Anon … Thanks for asking. If you’re going to be open, you need the year-rounders coming in all winter and spring. I suggest you work towards building a loyal following by staying in touch. The most impactful thing you can do is ‘buy’ your customer’s contact information and then use it to serve them. Suppose you offer a 10-20% discount on their next purchase if your customer gives you a phone and email address. As you collect the information, build a simple database and keep it handy in the store. After all, you can’t let people get the discount twice for giving you the same information !! Then do some simple things and use your information to get the word out.
Create a rollout of items. Introduce an item for the holidays, and tell them that there will be a companion item with a New Year’s theme for January, a Lover’s theme for February, a Spring theme for April, and a beach theme for June. Keep them coming back all the time.
Host an event with the rollout of the new items. A fashion show, or a wine tasting, or a trivia contest. Make it fun to shop with you.
Create merchandise that promotes your shop or restaurant -- How about a knit cap or tee-shirt with your logo and a clever saying. A hockey rink out of state gave away and sold boxer shorts that had “The Smell of Hockey” written across the bum. And who doesn’t have a coffee mug that says “Cuddles & Bubbles”. Most family restaurants sell shirts or water bottles with their name on it, but without a clever ‘must have’ saying, they mostly hang on the wall and get dusty. Make your advertising a collector’s item.
Thank-you cards – The last time you got one, it was probably from you mother. When did you last get one from a store or business? Wouldn’t it be impressive? Do it, and do it before your competitor does.
Call customers to say ‘thank you’ two days after they bought from you. Even if you only leave a message, think about the impact that will have. You’ll be the talk of the town.
And finally, with a data base of customer contacts, you can also do some of the techniques we talked about last month. Check out the October Flagship posting on this blog.
Marketing when you have no money !! (HACC Flagship October, 2009)
Q: Dear Coach Barry: I run a small business in Hyannis, and am looking for some low-cost or even no-cost techniques that can charge up my marketing activities. What do you suggest? – Baffled in Barnstable
A: Dear Baffled … You ask a very good question. Many businesses, especially the seasonal variety, have been hit hard. They don’t have much cash, but know they need to do something to stand out from the crowd and generate more business. But they have to watch every penny.
Any marketing technique can be effective when it has a good message and is targeted at the audience you want. If you miss these two important ideas, your marketing is wasted. So I’m going to assume that you have decided who you need to reach. Maybe existing customers to offer new services. Maybe new customers who don’t know you. Maybe year-rounders. Maybe seasonal residents. Maybe business owners. You know that one campaign won’t do a good job for all, and if you try the all-in-one campaign, you’ll probably miss the mark altogether.
As for cheap, here are two of my favorite low-cost ideas. These work best for service companies.
Email marketing – If you’ve been clever enough to gather email addresses from customers, visitors to your store, or prospects, you’ve ready to roll. For under $200 per year, you can send out email blasts using a service like Constant Contact. It’s a great way to introduce your ‘friends’ to new specials. If you don’t have the emails, start collecting them NOW.
Make a few phone calls – If you have service customers that use you sporadically or regularly, set up a list of customers to call. Do as few as 3 per day, but not more than 20 … or you’ll get burned out. And the script that can generate new business and customer loyalty goes like this…” Hello. How are you today? I’m calling to make sure you’ve been happy with what we did for you (sold to you). Do you need any more or something to go with it? Do you know anyone else who would like to know about us that I could call? Do you mind if I call back in 6-9 months again?” Trust me, for service businesses especially, this works. If you deal in one-time sales to walk-in customers, get their email or phone, and call them the next day with the same script. You’ll really stand out from the crowd.
Multi-purpose print items – Suppose you printed a 3-part card to pass out … at networking events, to your visitors, and as billing stuffers. One part simply says “Thank You” and lists all the items and services that you offer. The next part is a customer satisfaction survey or mailer to show you care. And the third part is a coupon for a new service or a card for your customers to give to their neighbors and friends. Print on a sturdy paper or card stock, perforate the 3 parts, and you’ll have a full service form for a fraction of the cost of multiple handouts.
A: Dear Baffled … You ask a very good question. Many businesses, especially the seasonal variety, have been hit hard. They don’t have much cash, but know they need to do something to stand out from the crowd and generate more business. But they have to watch every penny.
Any marketing technique can be effective when it has a good message and is targeted at the audience you want. If you miss these two important ideas, your marketing is wasted. So I’m going to assume that you have decided who you need to reach. Maybe existing customers to offer new services. Maybe new customers who don’t know you. Maybe year-rounders. Maybe seasonal residents. Maybe business owners. You know that one campaign won’t do a good job for all, and if you try the all-in-one campaign, you’ll probably miss the mark altogether.
As for cheap, here are two of my favorite low-cost ideas. These work best for service companies.
Email marketing – If you’ve been clever enough to gather email addresses from customers, visitors to your store, or prospects, you’ve ready to roll. For under $200 per year, you can send out email blasts using a service like Constant Contact. It’s a great way to introduce your ‘friends’ to new specials. If you don’t have the emails, start collecting them NOW.
Make a few phone calls – If you have service customers that use you sporadically or regularly, set up a list of customers to call. Do as few as 3 per day, but not more than 20 … or you’ll get burned out. And the script that can generate new business and customer loyalty goes like this…” Hello. How are you today? I’m calling to make sure you’ve been happy with what we did for you (sold to you). Do you need any more or something to go with it? Do you know anyone else who would like to know about us that I could call? Do you mind if I call back in 6-9 months again?” Trust me, for service businesses especially, this works. If you deal in one-time sales to walk-in customers, get their email or phone, and call them the next day with the same script. You’ll really stand out from the crowd.
Multi-purpose print items – Suppose you printed a 3-part card to pass out … at networking events, to your visitors, and as billing stuffers. One part simply says “Thank You” and lists all the items and services that you offer. The next part is a customer satisfaction survey or mailer to show you care. And the third part is a coupon for a new service or a card for your customers to give to their neighbors and friends. Print on a sturdy paper or card stock, perforate the 3 parts, and you’ll have a full service form for a fraction of the cost of multiple handouts.
Monday, September 14, 2009
Do you know what you don't know?
From the August, 2009 edition of Flagship, a publication of the Hyannis Chamber of Commerce...
You may not know what you don’t know !!
There is no doubt that the business world has changed dramatically in the last year. There are new problems, new solutions, changes in buying motivation, changes in selling strategies, changes in laws, changes in technology, and more new stuff that we don’t know yet. Do you know the most dramatic things that have changed in your industry? How do you know they are the most important changes? How do you find out?
Head in the Sand?
Unfortunately, too many business leaders are scared (understandable) and sticking their heads in the sand (a budget-friendly tactic, to be sure), waiting for the storm to pass. But it isn’t a storm. It’s a climate change. (No windmill or solar panel references. Sorry.) The economy has permanently changed, and to succeed, you need to understand what is fundamentally different, and what it means for your business. So get you head OUT of the sand, look around, and get reconnected with the world.
Its time to attend that conference
You industry associations have meetings all over the country and the world. It can be expensive to attend, but make an effort to go. Listen to keynote speakers. Attend breakout discussions on things you don’t know anything about. Don’t keep going to the sessions on technology or marketing because you used to. Go to new ones on health insurance or stimulus grants. And ask the other attendees … “What is changing in your market, and what are you doing about it?” “What is the worst thing about this new economy?” “What is the best thing?” “What is the most surprising thing?” I guarantee that you’ll be stimulated and jolted into thinking of new things for your business. Sure, the internet and business blogs can accomplish a lot of this, but let’s have some fun while we do our exploration.
Local Networking
Local networking opportunities are expanding all the time a former ‘corporate’ types have become local entrepreneurs like the rest of us. There are probably 10 networking events each week within an hour’s drive of Hyannis. Make a commitment to attend at least 3 per month. The Chamber work continues. BNI chapters continue to encourage guests. Other less formal groups like Monday Madness are becoming networking resource centers. Stay in touch with local people, and ask interesting questions.
Read
Read. Remember that? Your industry journals can be more interesting than ever before. Pick up a copy of Inc magazine, or Forbes, or the Harvard Business Review. Some things won’t apply to a small business, but most will be perfect. Read at least one article that doesn’t seem to apply to your industry, and find the parallels to today’s problems and at least one idea that can be modified for your business. This simple exercise will awaken the creative impulses that got you into business in the first place. I promise.
There is stuff we know. We use it to our advantage. And there is stuff we don’t know, but have decided its not important, or hire others (CPAs, Lawyers, etc) to keep us up to date. But then there is the stuff we don’t know we don’t know. It can devastate us if we find out too late, or it can open new opportunities when we find it out earlier than our competitors. It’s the really important stuff.
You may not know what you don’t know !!
There is no doubt that the business world has changed dramatically in the last year. There are new problems, new solutions, changes in buying motivation, changes in selling strategies, changes in laws, changes in technology, and more new stuff that we don’t know yet. Do you know the most dramatic things that have changed in your industry? How do you know they are the most important changes? How do you find out?
Head in the Sand?
Unfortunately, too many business leaders are scared (understandable) and sticking their heads in the sand (a budget-friendly tactic, to be sure), waiting for the storm to pass. But it isn’t a storm. It’s a climate change. (No windmill or solar panel references. Sorry.) The economy has permanently changed, and to succeed, you need to understand what is fundamentally different, and what it means for your business. So get you head OUT of the sand, look around, and get reconnected with the world.
Its time to attend that conference
You industry associations have meetings all over the country and the world. It can be expensive to attend, but make an effort to go. Listen to keynote speakers. Attend breakout discussions on things you don’t know anything about. Don’t keep going to the sessions on technology or marketing because you used to. Go to new ones on health insurance or stimulus grants. And ask the other attendees … “What is changing in your market, and what are you doing about it?” “What is the worst thing about this new economy?” “What is the best thing?” “What is the most surprising thing?” I guarantee that you’ll be stimulated and jolted into thinking of new things for your business. Sure, the internet and business blogs can accomplish a lot of this, but let’s have some fun while we do our exploration.
Local Networking
Local networking opportunities are expanding all the time a former ‘corporate’ types have become local entrepreneurs like the rest of us. There are probably 10 networking events each week within an hour’s drive of Hyannis. Make a commitment to attend at least 3 per month. The Chamber work continues. BNI chapters continue to encourage guests. Other less formal groups like Monday Madness are becoming networking resource centers. Stay in touch with local people, and ask interesting questions.
Read
Read. Remember that? Your industry journals can be more interesting than ever before. Pick up a copy of Inc magazine, or Forbes, or the Harvard Business Review. Some things won’t apply to a small business, but most will be perfect. Read at least one article that doesn’t seem to apply to your industry, and find the parallels to today’s problems and at least one idea that can be modified for your business. This simple exercise will awaken the creative impulses that got you into business in the first place. I promise.
There is stuff we know. We use it to our advantage. And there is stuff we don’t know, but have decided its not important, or hire others (CPAs, Lawyers, etc) to keep us up to date. But then there is the stuff we don’t know we don’t know. It can devastate us if we find out too late, or it can open new opportunities when we find it out earlier than our competitors. It’s the really important stuff.
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