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| Event Details |
Just Starting Your Business?
Workshop for people just launching a business
Visit our Website to get information about an important workshop for anyone contemplating starting a new business. Learn how to reduce your risk and maximize your success. "It's Your Business" workshops will zero-in on those activities that optimize your Return-on-Investment
Click here to learn more. |
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| Quick Tips |
Pay Attention to Detail
Look at your operations from the person who answers the phone to whoever last touches your product or service. Take five minutes and jot down the progression of your customer through this chain. Are there any "broken links"?
John O'Brien
Central Coast Senior Services
Pacific Grove, CA
Putting the Pieces Together
I think of long range planning in terms of a jigsaw puzzle. If I spend all my time studying the individual pieces and trying to fit them together, I lose sight of the bigger picture. But if I am looking at the photo of the completed puzzle, I can stay focused on moving the pieces in such a way that I reach my goals.
Cheryl Wagner
Wagner Regulatory Associates
Hockessin, DE
Keeping Your Margins Up
When quoting a project, I always quote the price I want, not what I think the client is able to pay. If they object, I'm in a position to remove segments of my service and come down to the price level they're comfortable with and not reduce my margins.
Christopher Contois
Visual Content Solutions
Nesconset, NY |
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| Now Available: Click on the above book cover to order your copy of The Wall Street Journal business book best-seller the 9 Elements of Family Business Success by Allen E. Fishman, Founder and Chairman of The Alternative Board®. |
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| It Can't Really Be July 31st Already, Can It? |
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Wow, it's hard to believe it's July 31st. I can no longer say we're about halfway through the year, and thus I'm pretty well on-track for completing all of my annual objectives. We passed the halfway mark on the year nearly a month ago!!!
Nonetheless, they say that time flies when you're having fun. Time is certainly flying. Are we having fun yet?? Actually, I am. Yes, it's been a challenging year on a number of fronts. Yes, the economy has put an extra drag on my business, much
like many of my clients. And yet... I'm still having fun. Actually I find that my creativity is being drawn upon even more, as I am challenged to find creative new ways to achieve success in my business. So yes, it can be stressful. But yes, it creates new opportunities to surprise even myself. And yes, time sure does fly.
So. Are you now buying my rationale for getting this July Newsletter out so late?? I've been having too much fun.
Look for our August newsletter...in... August.
Robb Evans
Founder, PHXBusinessOwners.org
President, Greater Phoenix Advisors, Inc. & TAB PhoenixMetro
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| Phoenix Business Owners Continue to Connect |
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To be honest, we've been surprised at the rate at which business owners in the Greater Phoenix Area have joined our Group (over 1000 business owners are now onboard in one way or another). Clearly, many of us recognize both the potential and the power of uniting to help one another grow our businesses. I've met with many of you personally now, and one thing has become very clear to me: none of us has to succeed at the expense of others. By making connections with one another, and by using the services provided by fellow local business owners for those things we naturally need to run our businesses and go about our personal lives, we can ALL rise up and achieve our aspirations.
Therefore, I again challenge you to reach out and do business with someone from this Group. Seek them out in our Facebook and LinkedIn Groups. Call them. Meet them for coffee or lunch. Visit their Websites. Perhaps even buy something from them. What?!? Yes. Buy something you could use.
But also realize the power an encouraging word can bring to a fellow owner. Or a referral. Or a piece of advice. Go ahead. Do it. It'll be fun.
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| Put a Smile on Their Face |
| Everyone's mood has been less than happy during the recent economic times. Our business is starting to see an increase in requests for proposals and work awarded and we are hopeful things are starting to turn around. We decided to do something fun to cheer everyone up a little bit. Since everyone loves our promotional pens, we decided to have a contest to see who would submit a picture of one of our pens in a unique or fun location.
For one month, we are having our employees submit photos and for the next month we will accept photos from clients, vendors, friends and others. I sent the first photos received from employees to our e-mail distribution list and invited everyone to take a look and encouraged them to submit their own photo. Within 30 minutes of sending the e-mail, we had 72 opens and 31 people had clicked through to our Web site to check out the photos. At least 20 people have e-mailed me to say how much they enjoyed it!
It's very easy to do and we're accomplishing our goal while having a little fun as well as casting our company in a uniquely favorable light and keeping our brand in the minds of both our employees and the public.prospects.
James McCulley IV, JCM Environmental, Newark, DE |
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| Taking Care of Your Employees |
Given the current economic climate, it is important to take care of your existing employees. Train employees on other areas of the business and allow them to do things like Web-based training. Keep communications going with your staff-team meetings, one-on-one meetings, lunch-whatever it takes. Mix it up. Build the bonds and let your staff know how much you really appreciate all of their efforts. Most likely they are stepping up to the plate to enable you to succeed.
Thomas Flaherty, Restoration Floorworks and Pro Cabinet Solutions, Morrison, CO
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| Hiring a New Bookkeeper |
When hiring a new part- or full-time bookkeeper, contact your accountant to see if they have a bookkeeper they would recommend. Your accounting firm knows what accounting program you use and the level of assistance your firm will need. If they do not have someone to recommend ask if-for a fee-their firm will run an ad and screen candidates for you. They will have your interests in mind as they will work closely with your bookkeeper and will not want to lose you as a client. However, your accounting firm should NOT be giving you lower value bookkeeping services-as in most cases that will be the most expensive option for your business.
TAB Winnipeg Board, Winnipeg, MB |
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| It Pays to Stay in Touch With Slow Payers |
I find it's worth talking to customers who are behind in their payments because they may go elsewhere out of embarrassment or fear. If they've been a long time customer, I reach out to them to tell them we value their business and want to work with them through these difficult times. Oftentimes, you can work out a payment plan that works for both parties and keep them as a valued customer moving forward. Getting mad or cutting them off rarely gets you paid or gives you additional business-and by ignoring them you may lose them as a customer. Some consideration must be given to their long-term ability to pay old and new debits.
Arnold Berman, Event Resources, Inc., East Hartford, CT |
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| Track and Measure Everything |
| The problem with many marketing efforts is that the results aren't tracked. So, when budgets need to be cut back there simply isn't enough information available to make logical business decisions. This results in arbitrary cuts being made out of necessity without knowing how each of those cuts will ultimately impact sales.
The solution is to build a measurement component into every marketing effort. One of the key benefits of e-mail and most online marketing is the automatic tracking of each click-allowing you to see your exact results at any time. You have to work a little harder to prove the return of your offline marketing programs.
A great measurement tool for traditional advertising and marketing is the landing page. By driving customers and prospects to unique URLs (www.yourwebsite.com/something), you can measure the response and conversion rates of your direct mail, print advertising and other campaigns. Plus, landing pages give you the opportunity to provide relevant content to your responders and a mechanism for capturing their data-which is why dedicated landing pages should also be used for e-mail, banner ads, Google Adwords and other online programs
George Snyder, Direct Impact, St. Louis, MO |
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| Tight Cash Flow? Businesses Need to Communicate |
It is not enough to sell clients on the benefits of doing business with you. You must also collect your money. We take the time to explain everything we will do for them and rarely explain their required performance and expectations. Make it clear to your clients after the account is sold that each of us have a performance responsibility. Their responsibility is to pay for our services-on time (and any other requirement they may have).
Communicate the rules upfront with your clients to guarantee a great relationship. If the client doesn't completely understand and agree with the responsibilities of each party at the beginning of your relationship it will be very difficult to overcome later. You get what you tolerate, so communicate and make it clear upfront!
Richard Gaynor, Middleton and Company, Newton, NJ |
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| "Cans" Only |
When I'm leading a group discussion of any new initiative, I stick to the following rule. The group only discusses the "cans" (i.e., the things we "can" do and how we "can" accomplish this) at the front end of the meeting. Only after all the "cans" have been stated will I allow any critiquing and statements regarding what we cannot do.
Carol Holt, C&L Bradford & Associates, Wilmington, DE |
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ABOUT THE ALTERNATIVE BOARD®
The Alternative Board® is comprised of members who are business owners, CEOs or presidents who run businesses in non-competing fields. The support and real-world advice from one another - and from your personal TAB business coach -make a bottom-line difference. A TAB Board will give you a distinct edge by helping you create, implement, adjust and stay on track to achieve your personal and professional goals.
The essential and critical counsel and value The Alternative Board® consistently delivers to small and medium size businesses, and the immediate impact it brings to its clients organizations is an essential element for any organization that intends to thrive. You can learn more about TAB, which has been helping business owners succeed since 1990, by visiting www.TAB-PhoenixMetro.com or connect with us at www.TheAlternativeBoard.com/connect. | |
