If you’ve been working hard to grow your business for a while now and things aren’t happening as fast as you want, then I’d like to help you create a MAJOR business BREAKTHROUGH.
Here’s the scoop… Read the rest of this entry »
Hawk's Eye On Business
Today, from noon to 2pm we are holding a “Grow Your Profits” seminar at Stevens Henager College. Corey Smith of Tribute Media, Martha Sandifer of Martha Sandifer CPA, and me, Roger Hawk of ActionCOACH will be sharing tips, tricks and actionable strategies Read the rest of this entry »
Roger and Val discuss proper methods to dispose of your old computers, hardware and protection of sensitive customer data with Secure Data Sanitization’s (SDS) Founder and President, Molli Wingert. Improper disposal of sensitive customer data such as credit card numbers, addresses, social security numbers, etc. could be punishable by fines from $1,000 – $10,000 per name. Read the rest of this entry »
Podcast: Play in new window | Download (Duration: 41:10 — 37.7MB)
Hawk's Eye On Business
Yesterday we talked about setting the price on your product. Today we talk about discounting the prices once you have set your price. Before setting your “sale” price we need to understand what affect to the bottom line the discount will have.
The first step is to know your true margin on the product. Without knowing this, you could be “Sale”-ing your way to bankruptcy. Read the rest of this entry »
Every day I talk to business owners talking about cutting their prices. On the surface this may seem as a good idea, however, it rarely has the results desired by the owner. Setting the prices in your business is an exercise that most owners make at the drop of a hat. Read the rest of this entry »
Many businesses fail every year in America because they do not manage their cash flow appropriately. This has nothing to do with whether the business is profitable or not because profits do not equal Cash. It is possible to sell your product for a profit but then finance the purchase, meaning that you are a profitable business but your cash position is not equal to your profitability until the account recievable is paid off. When Accounts Recievables get too high, the result is that the business can not pay for new inventory, pay for new equipment, pay for fixed expenses and so forth.
So where can you find some cash laying around in your business? Here are some areas to look: Read the rest of this entry »
How do you get capital to start or grow your small company? This is a question many small business owners ask themselves on a regular basis. The key questions are who do you go to for the money and how much are you willing to give up for the money.
1. Who do you turn to for money is dependant where you are in your business. In the very early stages of business before you have a product, you turn to what most people call he 3 F’s. That is for Friends, Family and Fools. Friends and famiy are self explainatory but the fools fall into two categories. People who are interested in the industry you are in and have a knowledge of that industry and people who have no clue what they are doing. Read the rest of this entry »
Podcast: Play in new window | Download (Duration: 41:57 — 28.8MB)
Targeting your market is the single most important thing you can do in your marketing strategy. Screw up this step and your business will definitely suffer. So how do you pick your target market? It is pretty simple, think of your top customers and pick the markets they fall into. At ActionCOACH, the things we tell our clients they need to know about their target markets are: Read the rest of this entry »
Hawk's Eye On Business
I’ve heard many people say that 90% of all marketing fails which invokes my response of “how do you know?” Did you measure the results of your marketing efforts? Let’s take a look at the data and find out where it failed. I believe that 90% of marketing fails because people are lazy and won’t do the work of tracking their results.
One of the big myths about marketing is the branding that too many marketing outlets use as an excuse for their marketing Read the rest of this entry »
Have you ever planned a marketing piece that failed miserably? Why did it fail? Have you ever ran a marketing piece that you didn’t keep detailed statistics of the piece? How many leads did it generate? How many sales and how many dollars did it generate? How many times do your new found customers come back and buy from you again and again? How many referrals do those customers give you and how many of them become customers. How much do the referrals produce, etc.? You won’t know if the piece paid for itself unless you track these types of statistics.
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