When I wrote the Rule of Thumb book for Small Business Sustainability, I truly thought it would be a hot topic for business owners seeking to leave a legacy for themselves and their families and/or business partners. However, after very stagnant book sales, I have to ask this question. Are small business owners so caught up in day-to-day survival that they cannot even focus on the future?
In this article, I’ll share some words of wisdom from Internet research gathered on the importance of sustainability for small businesses. READ MORE »
Your business is growing and you’re ready to add another employee. But what kind of employee pay should you offer? And are they hourly (non-exempt from overtime rules) or salaried (exempt from overtime)? Should you pay them a commission or some kind of bonus plan? READ MORE »
My business is all about sales and so I thought I would share three reasons why I love sales and the sales process.
- Sales is a discovery process
Sales allow you to get to know your customers. Through sales, you can build a relationship with your clients, discover their wants and needs, and work to satisfy them. In addition, sales help you learn about yourself. As we discussed in our last blog, we are all in sales. We sell something every day; whether that’s our image, a new idea, or a request. Sales and the sales process can help us learn about both our customers and ourselves. READ MORE »
You walk into a business networking event and your immediate instinct is to hand people your business card in order to build quick rapport and promote your business. Wait! Don’t do it yet! Why? They did not ask for it.
Why is that so important? What happens when we hand out our business card before they ask? It immediately becomes a one-sided conversation, announcing “This is what “I” am doing and I want your business” even though I do not know who they are and what you really want, like and need. This might boost our egos, but it is not good for creating and building new relationships. Although most people will politely accept the card, they will rarely call unless they feel some sort of connection was made with you during your first brief encounter. READ MORE »
Are you giving your employees recognition ? When you look at the talents and skill sets of the people you have on your team, do you recognize and respect each person for their individual attributes? Each person on your team is different and they are motivated and driven by various factors. It is important that you are able to satisfy those sources of hunger for them. As I have worked with many students who hope to be small business owners in a particular industry or field, I see many of them take jobs to generate some much needed cash flow. When they take a job in their desired area of expertise, it can be both beneficial as well as a detriment. The satisfaction that they get from working in this field often gives them “just enough” to keep them in that job and they lose interest in that immediate desire to start their own venture. It can be a double-edged sword so to speak. READ MORE »