Profit, that elusive goal that frustrates many a business owners. To be sure, many businesses are just bad ideas that never should have been started in the first place. However, there are plenty of others that are well run with decent revenues but for some reason they aren’t as profitable as they should be.

 

When helping business owners, one of the first places I look is their pricing model.… Read More

Every entrepreneur goes into business with a list of dreams, hopes and desires for their business and their life. Unfortunately, dreams require more than just hoping and praying for a successful outcome.

What we need to realize is that dreams are just the starting point of the entrepreneurial adventure. Dreams get us in the game, but to be successful in business requires being able to put all the pieces together in order to create a prosperous enterprise.… Read More

I’m frequently asked how one goes about pricing their goods and services for profit. It sounds like a simple enough question, but in reality, it can very complex. Get it right and all should be well. Get it wrong and you’ll be constantly chasing revenue, if only to pay the bills.

 

Now if your product is a “me too”, you don’t have a lot of flexibility, as the existing products have already established the pricing parameters and therefore you must compete accordingly.… Read More

Far too often I come across entrepreneurs who can’t seem to launch their new business, product, service or even a new strategy. They are constantly tweaking it, in an attempt to make it better or even perfect the final offering.

What they fail to realize is that they’re wasting valuable learning time by not being in the market. Regardless of when they finally do launch, chances are they are going to need to make adjustments anyways once they receive customer feedback, so why wait?… Read More

There’s a lot of time and energy wasted by small businesses on the whole concept of brand building and little on reputation. So much of this noise can be traced back to the explosion of Social Media and if the truth be told, that’s all most of it is, noise.

To be honest branding any kind of service business has always been a challenge and is best suited to products.… Read More

 

One of the simplest ways to increase your sales closing ratio is by simply following up with your prospects in a timely manner.

All too often I encounter entrepreneurs who lament at how difficult business is or that they just don’t get sales even though they are pitching and quoting.

Digging a little deeper quickly uncovers one of the main reasons for their poor sales performance, they don’t follow up.… Read More

Successful people are always on the lookout for ways to improve themselves and their businesses. Unfortunately, with the advent of Social Media, there are now an overwhelming number of so called experts promoting the latest and greatest way to take you and or your business to the next level.

Scream Loud Enough

I get the sense that they believe that if they scream loud enough or post frequently enough, people will automatically assume that they are experts.… Read More

No one likes doing hard stuff. It’s far easier and requires far less motivation to do the things we like. Great concert pianists produce wonderful music in what appears to be an effortless manner. Top ranked Olympians appear to have superhuman abilities and successful entrepreneurs have an air of quiet self-confidence.

What We Don’t See

The one thing all these individuals have in common, is that they put in the time and effort required to develop and refine their skills.… Read More

Why would anyone want to be an entrepreneur? Why would you want to have to constantly worry about getting business, hiring employees, making payroll, covering rent, dealing with grumpy customers, finding customers, firing customers, firing people, sending out invoices, collecting payment, marketing, fixing the computer, quoting on jobs, preparing presentations, working too hard, sleeping too little, meeting with lawyers, meeting with accountants, explaining to bankers, being rejected, losing customers, out guessing the competition, managing your time, trying to be creative, managing people, selling, being late, shipping, receiving, paying bills, getting home, getting home on time, prospecting, closing, reporting, profits, networking and deadlines?… Read More

Sitting down with a cup coffee, you look at your financials and you realize your annual projections are not unfolding quite like you planned. Revenue is down, expenses are up and profitability is just a flicker on your Profit and Loss statements. You know that the longer you wait, the harder it will be to make up the shortfall. It’s time to step up your game and maybe even get outside your comfort zone and do some business development.… Read More