Core Business Solutions Advice

 

The last quarter of each calendar year is filled with so many holidays, family activities, and parties that you probably wonder, “How do I find the time to plan?” or “How can I plan when I don’t know what my business results are for this year?” 

Here’s a suggestion: Plan a 4-hour business retreat!

Schedule this retreat away from your normal work schedule so you can think and plan without distraction. By late 3rd or early 4th quarter, you should know how your business is shaping up for the year, what goals you should set, and the steps required to reach them.

Ask yourself: If money were no object, what kind of business do I truly want? Include personal as well as business goals. It’s the starting point of your New Year Business Vision.

Write your three-year vision. It doesn’t have to be carved in stone. You may revisit and revise it as your plans change over time, but it should give you an idea of where you’re headed.

Create measureable goals for the first 90 days of the coming year. Your first quarter sets the tone for your

entire year, so you want to start it off right!

Make a list of categories that are important to you. They can include Family, Business, Monetary, Fitness, Social, Intellectual, Spiritual, etc. Then, set 3 goals for each category that you can reach easily in 90 days.

Plan your large business expenses for the coming year. These could be workshops you plan to attend, events that you want to sponsor, a Customer Appreciation event, office equipment, software, etc.

Map your year on a calendar. Include review dates for your quarterly goals, marketing goals, travel, vacations, profit generation, etc.

Be patient. A business planning retreat can be very empowering. During my annual trips to visit family in New England, I set aside 4 hours in a quiet place for my own retreat. If you’re like me, you’ll find this mini retreat will recharge you and build confidence in your business and yourself as you move into the New Year.

 

If you’d like specific tips on how to plan for the coming year, contact me by phone at 727-647-8242 or via email

at waltmorey@corebizsolution.com  and I’ll help you develop an outline to keep you focused.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 















  

Here is a link to a recent episode of 'Lets Talk Business-Tampa Bay' that was produced by Talk Wad Studios in  Tampa. In this segment of the show you'll learn more about 'Why' a business owner would use a coach and 'How' a coach can help any business owner. http://youtu.be/Mtl8uluS8Z8


 

Here is a link to my new weekly TV Show that I am producing along with Carl Lucchi of Tampa Bay Networkers each Wednesday evening at 7 pm.Go to Talkwadstudios.com to see our previous shows as well.
This episode included an interview with Bob Turel, the Presentations Coach. Learn how Bob can help with your 'Elevator Pitch', making an impactful and memorable speech or just how to get rid of the 'Jitters' before you give a presentation.  Bob offers many other services as well.

 I hope you enjoy this clip from the show.

https://www.youtube.com/watch?v=wYt4HR9q8zY

We all know how important it is to get peak performance from every member of our team. The most

effective leaders understand that the best way to reach this goal is by consciously creating an atmosphere

that motivates people to do their best. 

 

So how does one do that?

 

Here are some proven practices that will help you create a climate that stimulates people to excel, to work

together collaboratively, and to deliver increased gains.

 

 

Have you heard people say that if not for customers, work will be a lot smoother? They ask questions for which the answers are so obvious. Or they can find the answers if they will just read the instructions that are provided with the product. They just have to call and ask all kinds of questions and sometimes you are not even the person who is supposed to handle such questions. Are you looking for good reasons that will help you feel better about this?

First thing is, if there are no customers, then there is no business. If there is no business, then you do not have a job. It does not even matter if yours is not a customer-facing job. Customers are needed. The question now is how you can look at the situation differently so that providing good service to the

customers is something that you can be happy doing.

The basic reason, of course, is that you get paid to do the job and providing good customer service is

part and parcel of the job. It does help to remind yourself that the organization promptly pays you and it is only fair to deliver your responsibility.

The next reason is that good customer service is the best pre-sales effort for the next purchase by the customer. People go all the way out to run promotions and write great copy to entice customers to buy their products.

Nothing though can beat good customer service.

 

There are customers who will repeatedly buy from the same company because they are happy with the service provided. Good customer service is not about falling over yourself providing everything the customer asks for, but it is about providing the customer what they rightfully should get for having bought a product from your company.

There is also a completely personal angle that you can look at where service is concerned. Most people nowadays are conscious of their social responsibilities and like to donate or make contributions to worthy causes.

Why not make good customer service as such a contribution?  In this case, you also get paid for it. In the words of N. Eldon Tanner, "Service is the rent we pay for the privilege of living on this earth". The moment you can start thinking that service is something that you want to do, then every customer

request will be much easier to respond to.

Is it going to be easy? Not all the time. There will be difficult situations but there will also be customers who will be very appreciative of the service that you provide. For those difficult situations, say to yourself that this is why you are paid a salary and just do it. The moment you stop fighting it, handling the situation gets less difficult.

Now, how do you handle difficult situations so that they do not upset you? The best way to handle this is to calmly listen to the customer. Many a time service representatives have a solution even before the problem has been described. Stop to listen first. Then ask clarification questions if necessary before providing the resolution.

Theodore Roosevelt said, "Nobody cares how much you know, until they know how much you care". You will do well to remember these words. If you can listen with a sincere desire to help and be happy to help the customer, you will feel good providing service. Some people even enjoy it. In addition, your whole attitude and listening with care will come through and even the customer's demeanor will change.

Good customer service is not about having a good customer service week once a year. It is about providing good service every day. As you start work daily, if you can accept that your purpose for being there is to respond to customer needs with concern and a desire to help, it will be a lot easier to get through work. You can even start enjoying it.

Remember, at a minimum you are getting paid to respond to customer requests. You are also helping to drive more sales from customers because of the excellent service you help provide. Besides this, from a purely personal perspective, you get an opportunity to be of service even without getting out of your normal routine.

Start having a different outlook to providing good customer service. It will make a great difference to how you support your customers and importantly to how good you feel deep inside you.

 

In about 4-6 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.


Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment

All The Best,

Walt Morey

Core Business Solutions

Executive Business Advisor Accredited by the Institute for Independent Business

http://www.corebizsolution.com

 
This post will  review four fundamental ways to increase your company's revenues, net profit and overall value.

Be careful here…it’s easy to say "I'm already doing that," or "that won't work in MY business." When, in fact, in most cases you can-  1) do a better job doing what you're doing, and/or  2) creatively adapt the idea in your business

 Keep an open and creative mind, and get ready to learn some ideas to help improve your business and grow it to another level.

Here are four methods that could work for you:

1. Sell to and serve more people

I know this seems so obvious ‘get more customers’. But ... let’s break it down further and look into all the possible channels by which you can advertise and reach new customers. Print, internet, signs, trade shows, direct mail, social media and the list goes on.

If you're like most businesses, you're probably advertising in some places but not yet in others. I suggest you start testing lots of different marketing channels to find new ones that can work for you.
Begin with the one that stands out as the one most likely to pay off (getting the most qualified people to contact you per dollar spent).

Are you really using social media consistently? Have you stopped networking as much as you used to when your company was new? Have you considered door flyers? Don't knock these marketing channels unless you've really tried them to the best of your ability.

Remember: the more marketing campaigns you try, the more likely it is you'll find the one or two that you’re not using that are solid gold. And these many times these become long-term assets, generating you profits month-after-month, year-after-year.


2. Increase your average order size

How many times have you heard “you want fries and a drink with that?” Fast food companies have learned this one well. Have you? It’s called ‘Cross Selling’.

Once someone has come into your store (or online property, or calls you) your goal is to maximize their total order amount. In doing so, you should simultaneously maximize your revenues and completely fulfill the needs of your customer.

The key is to not do it obnoxiously. For example, when you're in a restaurant and the waiter suggests entrees, appetizers and/or asks if you want dessert, it's not seen as being pushy, but it maximizes the restaurant's profits. Are you maximizing your profits?

Another example of this: you may have been calling to order something by phone like supplements and they suggest they can add an item in your package with no additional shipping charges.

You could add to your customers' order sizes by finding out what accessories or related items they might need, and have them available.

This can also be done Online. When you ‘checkout’ at Amazon.com a message will pop up saying "Those who bought X also liked  Y...". No wonder they have one of the highest conversion rates among online stores.

Over all industries,  cross selling generates 35% additional gross revenue and averages 18% more profits!

That’s serious money in anyone’s book.


 3. Increase your customer order frequency

How often do your customers need your product or service? Is it something totally out of your control, like a real estate client not needing to buy another house for several years?

But are there things within your control that can motivate customers to come in more often or purchase more often from you, like a restaurant inviting its customers in for specials on slow nights?

Loyalty and reward programs can help make this happen. For example, hair salons can provide a VIP Reward program where the 3rd or 4^th or 5^th visit provides you a deep discount on their services and many coffee shops will give you a card to punch each time you buy a coffee to get the 10th one free. If you have 7 of 10 punches already, you know you'll be a little more likely to choose that place over others to get your reward sooner.

Continuity income is another huge one. If you can offer any kind of product or service on a recurring, monthly basis...do it. Ever hear of the ‘Book of the Month Club? A winery or liquor store could offer a wine-of-the-month club. Bakeries can offer weekly batches of cookies to local businesses for team meetings.

The odds are that whatever you're offering, a certain percentage of people want it every month like clockwork and will pay accordingly for it.

 

4. Increase your monetization methods

Finally, look for your business' byproducts that might be of value to someone else.

Think about this: when sawmills and furniture manufacturers stopped throwing away the tons of sawdust accumulating on their floors, and began selling it to other businesses who could use it (such as for making "starter logs" for burning in your fireplace) they found new income streams.

Another interesting example is a group of real estate investors who built a brand around their vanity number, 1-800-NO-AGENT, offering homeowners a chance to sell their house to them at a discount instead of listing it and waiting.

They found they could sell the leads (those who responded but didn't' want to sell to them) to local real estate agents (who would contact them to see if they could represent them). Their company ended up generating nearly as much revenue from selling "dead" leads as it did from their core business of "flipping" houses!

I have a client whose main business generated literally tons of scrap lumber. He has turned what was once a $3,000 monthly dump bill into a $350,000 revenue stream by converting the scraps into landscape mulch which he sells by the truckload!

Doubling revenues just by thinking outside the box...that'll add value to your company.

Hopefully as you read through these value-adding methods, you were able to find things you can do right now to increase your revenues and profits. At a minimum, add one new idea to your To Do list to accomplish in the next 30 days. Go after that new additional income with a positive outlook and you'll start seeing the benefits!


 In the next few weeks or so I'll post another article to help you work 'on' your business!

"Remember, to get your business to the top, you must get off your bottom."
Walt Morey,

Core Business Solutions

8712 40th Way North, Pinellas Park, Florida 33782

Tel: 727-647-8242

waltmorey@iib.ws

http://www.corebizsolution.com

Practical Business Advice

I recently ran across an article written by Harvey Mackay (author of 5 business best sellers) that I shared with a client and I think he makes some great points that all business owners should remind themsleves of frequently. Let me know what you think...

"Success is a Marathon"    by Harvey Mackay

• Focus on what you can accomplish rather than the obstacles that stand in front of you. Direct your energy toward achieving a goal, and tackle the problems with an emphasis on edging closer to a successful result.
• When you identify a roadblock, develop a realistic plan to overcome it.
• Work with your colleagues or employees to make it easy for them to say yes to your requests. Provide options so they can contribute to the best of their abilities.
• Never ask them to do something that you wouldn't do yourself. That is the essence of leadership.
• Be assertive without being aggressive. Set the direction and take responsibility for results.
• To paraphrase Winston Churchill: Never, never, never, never, never, never, never give up.

Persistence and determination are what keep us hammering away. I've known entrepreneurs who were not great salespeople, or didn't know how to code, or were not particularly charismatic leaders. But I don't know of any entrepreneurs who have achieved any level of success without persistence and determination.

When you have a dream that you can't let go of, trust your instincts and pursue it. But remember: Real dreams take work, They take patience, and sometimes they require you to dig down very deep. Be sure you're willing to do that.

Mackay's Moral: Instead of giving myself reasons why I can't, I give myself reasons why I can.

 In the next few weeks I'll post another article to help you work 'on' your business!
"Remember, to get your business to the top, you must get off your bottom."
Walt Morey,

Core Business Solutions Inc.,

8712 40th Way North, Pinellas Park, Florida 33782

Tel: 727-647-8242

waltmorey@iib.ws

http://www.corebizsolution.com/

Practical Business Advice

On a scale of one to ten, having a good  strategy rates about a fifteen!

No matter what kind of business you have -- whether you sell products or a service, as the saying goes, "if you fail to plan, then you're really planning to fail."

Creating a strategy can mean the difference between you working 60 to 80 hours a week all year long -- and then breaking even, or worse, losing money. On the other hand, many successful entrepreneurs who have a strategy work fewer hours and make piles of money -- and they usually attribute their success to having a strategic plan and following it.

So what is strategic business management? Very simply, it's the process of defining the goals and
objectives for your business, creating an action plan so you can reach them and then following the plan.

How do you create a strategic plan for your business?

1. First, know what your vision for your company is. If there were no barriers, nothing stopping you from taking your company as far as you could – what would that look like?

2. Next, what are your company's core operating values? What are its guiding principles? In other words, why are you in business and how do you do business?

3. Now create a 3 to 5 year plan. Your long-term plan is based on the broad objectives that will help you get from where you are now, to where you want to be.

4. Develop a plan for this year. These are the specific objectives you plan to accomplish this year that will lead you closer to your long-term goals. Remember to be "SMART" when setting your annual goals (Specific, Measurable, Attainable, Realistic, Time-oriented). Include a list of the barriers that are
stopping you from getting where you want to go. Figure out what resources you've already got, and what resources you need to get you past those barriers. And then create an action plan that clearly lays out how you will achieve your goals. Involve key employees with this part of the planning process.

5. Create a set of milestones or benchmarks. This is very important, so that you can measure your progress.

6. Share the plan with your employees, and anyone else who will be involved in the process. Your annual strategy is the roadmap that will make sure everyone ends up at the same destination - but to be effective, everyone needs the same map!

7. Put the plan into action. Now that you have the roadmap, it's time to begin the journey.

8. Check your progress. Just like any trip, you need to check the map every now and then; to be sure you're still on the right road. If something isn't working, the sooner you figure it out and make the necessary adjustments, the sooner you'll be back on track.

9. Follow the same cycle next year. (Dream, Plan, Act, Check).

Creating a business strategy and following it will ensure that you enjoy the journey as much as getting to your final destination.

In the next few weeks I'll post another article to help you work 'on' your business!

"Remember, to get your business to the top, you have to get off your bottom."




Walt Morey,

Core Business Solutions Inc.,

8712 40th Way North, Pinellas Park, Florida 33782

Tel: 727-647-8242

waltmorey@iib.ws

http://www.corebizsolution.com/

Practical Business Advice

Information such as gender, age, marital status, hobbies, income, business type, and even location can all be important details you use to create targeted communications and offers that wow your customers. If you don't already have this information, you can gather it using questionnaires your customers complete as you work with them or through database appending services such as Dunn & Bradstreet.




B- Track customer data and behaviors.


There is no way you can remember everything about your customers without a good system for keeping track of customer info. A good customer database or customer relationship management (CRM) system will allow you to track demographics, interests, past purchases, behaviors, and more. There are many options for CRM software such as Prophet  which can be used with MS Outlook, OnContact  which can be used either as a hosted solution on an 'on-premises' product and many others such as Goldmine, SugarCRM, Netsuite and an old favorite ACT, to name just a few. Last count there were over 20 CRM software choices and growing all the time.



C- Conduct a survey.


Send out a survey by email  to help you gather valuable data from your clients both current and past. You can discover their interests, how they feel about your service, what products they may be searching for, and much more. This information will help you address individual needs and also give you a "big picture" look of how your clientele feels about you and your company. However, be prepared, you may get some answers you are not expecting. Especially from customers who may have left you for a competitor. It's all about the questions you ask.


D- Listen to your customers.

The best way to develop better relationships with your customers is to solicit their feedback. If your clients are local, you can host a live customer appreciation event, whereas if you have a larger list of customers, you can hold a virtual event, social media gathering, or other creative avenue to interact with customers.


E- Respond to your customers needs.

When you know your clients and then provide products and services to meet their current and future needs, they will respond with loyalty. And if you're really good developing strong customer relations, you'll get referrals from your customers as well. Now, how about that? 

F- Keep in touch.

Lastly, be sure to use a method to stay in touch with your customers, both new and old. Develop a newsletter that can be posted on Facebook and other Social Media platforms or delivered by email or even "snail mail". You'd be amazed the attention and interest a well-crafted newsletter about 'what's new' in your company and other useful information can get you.

Better Customer Relations Management can help you grow your business.

I hope this blog post was useful for you. In a few weeks I'll post another item to help business owners work 'on' their business.

"Remember, to get your business to the top, you have to get off your bottom."

Walt Morey,
Core Business Solutions Inc.,
8712 40th Way North, Pinellas Park, Florida 33782
Tel: 727-647-8242
waltmorey@iib.ws
http://www.corebizsolution.com/
Practical Business Advice

As a customer, you’ve no doubt received many sales pitches from companies trying to sell you something and I'll bet the vast majority of which you ignore, tune-out, or reject outright.  But when the tables are turned, and you are the one making the proposal, there are three key elements that will make your offer more compelling.  These three components make-up what’s known as your Unique Selling Proposition or “USP”.  This is one of the simple tips I share for converting prospects into buyers.  Whether you’re making your proposal in person, through a brochure, or on your website, you’ll have more impact by including these three elements…

1-Translate Features into Benefits

Sales often get bogged down in detail when a product or service is overly-described in terms of features rather than benefits. A feature is a physical characteristic of or a fact about a product or service. A benefit is what that feature does for the user. For example, a feature of an automatic garage door opener is when you push a button; the garage door goes up or down. A benefit is since you no longer have to get out of your car and be exposed to the weather; you save time, possible back injury, and maybe even reduce dry cleaning bills.

In your proposal, be sure to translate your product or service features into benefits. Here’s an easy way. Briefly mention the feature, then use these six magic words: “What that means to you is…” Then describe the benefit. Translating features into benefits helps potential buyers fully appreciate the value that you provide.

2-Describe your Difference

Chances are, there are other suppliers of your kinds of products or services so it’s important for customers to know what makes you unique. Rather than trying to explain what you do better than your competition, instead describe what makes you different.
That takes you to the third element of crafting your unique selling proposition…

3-Prove it!

Provide facts, statistics, examples, and testimonials that verify your claims. If your evidence is in the form of a client testimonial, be sure to include the client’s full name and company. Otherwise, the ‘fact’ looks like fiction. Obtaining customer endorsements is easy when you do good work. Simply ask for permission from your happy customers to feature their comments. Most people are flattered and will happily consent. be sure to take this one step further and add video testimonials to your website. The power of a simple well-done video cannot be over-stated.

Now-Finish with "What’s Next"

If your proposal is in writing; be clear about the next step. Tell the customer what you want them to do; visit your website, phone you, stop in, sign the 'OK' form or the agreement. This Call To Action (CTA) is the natural progression and your prospect expects it. Do not disappoint...Ask for the order!
If appropriate, also explain what they’ll gain by doing this sooner rather than later thus creating a sense of urgency. Perhaps there’s a limited supply, or the offer ends at a certain date. You can also outline options for implementing. I don’t recommend however, getting too detailed with implementation plans at this phase. Better to do that after the customer decides they want to move to the next step.

There are lots of other pieces of information you can include proposal. Certainly, your knowledge of your customers’ circumstances and challenges is a good place to start. Just make sure that when you get into the substance of your proposal that you add the three elements of the USP or Unique Selling Proposition. Chances are you’ll address a lot of the buyers’ unexpressed objections, make them more comfortable doing business with you and close more sales easier and faster.

I hope this blog post was useful for you. In a few weeks I'll post another item to help business owners work 'on' their business.



Walt Morey,
Core Business Solutions Inc.,
8712 40th Way North, Pinellas Park, Florida 33782
Tel: 727-647-8242
waltmorey@iib.ws
http://www.corebizsolution.com/
Practical Business Advice








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Whether it involves talking with your teen about sex or drugs, your spouse about finances or housework, or your employee about attendance or performance issues, the prospect of initiating a difficult
discussion is daunting to many, if not most, people. Mix in the tendency to procrastinate tackling unpleasant tasks, then feeling guilty about putting something so important off, and you can wind up feeling even more miserable and anxious about the impending conversation. You might even lose sleep over it.

Initiating such a discussion doesn't have to be nearly so painful. With the proper mindset and some preparation, you can learn to handle even the most difficult topic with ease and confidence. The following tips will enable you to do just that.

1. Realize that by having the discussion, your goal is to benefit others as well as yourself. Whether or
not he shows it, your teen will most likely appreciate that you care enough to talk to him about things that concern or matter to you. In the case of the employee with the performance issue, he/she will have an opportunity to correct or improve on it, or face consequences. In either event, the other members on your team will certainly appreciate that you took steps to address the situation, because they will see the poor performer either stepping up to the plate or terminated.

2. Focus on the possible positive outcomes of having the discussion sooner rather than later. The employee's performance could most certainly improve. Or you may have the opportunity to replace a poor performer
with someone more willing and able to do the work and follow company or departmental policies. Either way, the performance of your team as a whole will benefit, which will be a positive reflection on your own performance.

3. Prepare for any possible reaction to the discussion. Have contingency plans for handling any behavior or response to what you have to say, whether it be anger, denial, silence or disbelief.
Knowing in advance exactly how you will deal with any of these will give you the confidence you need to proceed. Understand that you cannot control a person's reaction, and in many cases you
cannot predict it either. But you can always prepare for any possibility.

4. If the topic for discussion is an especially difficult one for you, have a reward planned for yourself when you complete it. Take a half day off to do something you enjoy, or treat yourself to something you ordinarily would not. After all, you just accomplished something that doesn't come easily for you. You deserve something special.

Following these tips will not make handling difficult discussions any more fun, by any means, but doing so when the necessity arises will make you a better and more competent communicator, manager, parent and/or
spouse. And who wouldn't benefit from that?

I hope this blog post was useful for you. In a few weeks I'll post another item to help business owners work 'on' their business.


Walt Morey,
Core Business Solutions Inc.,
8712 40th Way North, Pinellas Park, Florida 33782
Tel: 727-647-8242
waltmorey@iib.ws
http://www.corebizsolution.com/
Practical Business Advice

Enter your content here

Not sure if you should join in the Social Media Revolution to promote your business?
Here's a link to a very revealing video.

http://socialnomics.net/?p=1117

Here are just a few stats from this video which is almost a year old:

1.Over 50% of the world’s population is under 30-years-old


2.96% of them have joined a social network

3.Facebook tops Google for weekly traffic in the U.S.

4.Social Media has overtaken porn as the #1 activity on the Web

5.1 out of 8 couples married in the U.S. last year met via social media

6.Years to Reach 50 millions Users: Radio (38 Years), TV (13 Years), Internet (4 Years), iPod (3 Years)…

7.Facebook added over 200 million users in less than a year

8.iPhone applications hit 1 billion in 9 months.

9.We don’t have a choice on whether we DO social media, the question is how well we DO it.”

10.If Facebook were a country it would be the world’s 3rd largest ahead of the United States and only behind China and India

11.There are over 200,000,000 Blogs


12.Because of the speed in which social media enables communication, word of mouth now becomes world of mouth

13.If you were paid a $1 for every time an article was posted on Wikipedia you would earn $1,712.32 per hour

14.25% of search results for the World’s Top 20 largest brands are links to user-generated content

15.34% of bloggers post opinions about products & brands

16.Do you like what they are saying about your brand? You better.

17.People care more about how their social graph ranks products and services than how Google ranks them

18.78% of consumers trust peer recommendations

19.Only 14% trust advertisements

20.Only 18% of traditional TV campaigns generate a positive ROI

21.90% of people that can TiVo ads do

22.Kindle eBooks Outsold Paper Books on Christmas

Still think you should not be using Social Media to promote your business?
 
THINK AGAIN.....

In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.


Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment

All My Best,

Walt Morey

Core Business Solutions

Executive Business Advisor- Accredited by the Institute for Independent Business

http://www.corebizsolution.com/

Ph: 727-647-8242