Critical to Business Success in 2016…………

Success and profitability is still a viable goal in 2016 for most businesses. Our economy is still stumbling along and some pessimists are predicting another recession next year. As I have mentioned before, recession will only affect your business if you let it. An article, last week, in the Wall Street Journal (Friday, November 27) reminded me how important a foundational budget is to business success. In brief, the Article headline read: Big Banks Cut Back on Small Business”. The article … [Read more...]

How to add membership as a revenue stream…

Most start-ups and existing businesses have the potential to add the membership concept, I have been talking about these last few weeks, as a new revenue stream. The most frequently asked questions is “How fast can I make it part of my business?” The answer is, “It won’t happen overnight.” The development and implementation system I developed is a three month process. It involves weekly meetings with the business owner and or management team. The first meeting is a no-charge, no- … [Read more...]

There is business power in numbers…but…

As humans, we were created to thrive in community, the same holds true for a business community. I have been an advocate of “being in business for yourself, but not by yourself”. There are several versions of “not by yourself”. Today I want to focus on the power of a group that combines its marketing efforts, along with other talents, for the good of the group. There is so much to be gained through the power of a business group, but before you broadcast an invitation to all who are … [Read more...]

Do what you do best if you want your business to grow…….

Change is occurring faster than ever in every business aspect. For example, social media is a multi-faceted tool and every day a new twist occurs which needs to be addressed. For many small business owners just trying to keep up with the “social media” marketing opportunities can become an almost full time endeavor. The sad part is that unless they are versed in social media marketing the hands on part takes too much time and often is not understood to implement correctly. If your … [Read more...]

There is no such thing as a lack of resources in business….

As a business owner we have to identify what we have that is of value. Don’t waste time having a “pity party”, lamenting the things that you don’t have. Today, identify the one thing that you have that is of most value; analyze it and build upon that value. The secret to growing a business is the ability to trade what you have of value for something that you need. Many small business owners place limitations on themselves.  During the course of growing a business they discover that … [Read more...]

Understanding the “Cash Cow” in business….

First, let’s define a Cash Cow from a business perspective: “The cash cow is the product or service that buoys profits year in, and year out and provides funds so the business can grow.” It brings in the cash that covers most of the expenses and helps cover the expenses of some not so profitable items. Most businesses that have survived a few years have discovered their own cash cow. As in real life, cows produce more milk as they age but as they get older the milk production reaches a … [Read more...]