In the movie Top Gun, Maverick and Goose are flying in close formation with Iceman in a training manoeuvre as they try to shoot down a much nimbler fictitious Russian MiG fighter. Maverick having been accused of abandoning his wingmen in the past, is sticking tight to Iceman but clearly has “the shot”.

Maverick pleads with Iceman to break off and let him take the shot.… Read More

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Be visible is really nothing more than the opportunity to get in front of the customer in some meaningful way. Unfortunately, it is proving far more difficult to do so. B to C or B to B businesses are equally challenged in getting through to their customers, because there are just many more roadblocks.

 

In the time before voicemail, a phone call to a customer’s home resulted in one of three outcomes; no answer, a busy signal or someone actually answered, pretty predictable outcomes.… Read More

Many entrepreneurs’ struggles can be traced to their inability to bring focus to their business. It is said that if you try to be great at everything, you’ll end up being good at nothing. I like to use the example of sunlight to explain the power of focus.

The Power of Focus

Most day our world is full of sunlight and even on the hottest of days there’s little risk of it setting anything on fire.… 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

Customer Lifetime Value

 

There really isn’t a better testament for your business than having repeat customer sales. It tells you you’re doing something right because your customers are coming back for more. But the true magic of repeat business is understanding the frequency a customer buys, what they buy and the value of their purchases.

In Small Business Minute #21, I discussed how profitability increases when you deal with existing customers, but now I want you to leverage this information so you can enhance a customer’s lifetime value to your organization.… Read More