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Getting To The Wow Factor: How To Exceed Your Customers’ Expectations

August 15, 2012 by Leave a Comment

It’s no secret that it’s harder to focus in today’s world with its smartphones, our constant use of the Internet, and social media platforms that update every second – it’s a wonder that we’re actually able to focus and get work done.

What are the implications of this new reality for owners of small and mid-sized businesses?

More things than ever before are fighting for our attention, which means that if a company wants to survive – and even thrive – it has to find something that makes it stand apart, something that makes its customers say, “Wow.” Because “wow” clients are loyal clients and will tell others about their “wow” experience with you.

Last week I attended a lecture given by Michael Hyatt, author of Platform: Get Noticed in A Noisy World, on intentional leadership. He made some great points, but one that really struck me was his discussion about exceeding customer expectations.

How To Turn The Worst Day Into A Great Day (Or At Least A Better One)

July 18, 2012 by Leave a Comment

We all have those days where it feels like nothing’s going right. “The world is against us!” we declare internally. Everything out of our control is not going how we’d like it to go and even the things we “think” we control are slipping through our fingertips.

So what do we do?

Sometimes we throw in the towel and sulk. Sometimes we decide to take action. And sometimes, even though we hate to admit it, we take out our bad days on our employees.

But everything we do is a choice. That’s what we have to remember.

Getting Things Done – A Productivity Tips Article Roundup

May 23, 2012 by Leave a Comment

Everyone is always looking for more ways to increase productivity. After all, we know that we can’t create more hours in the day, but we can make an effort to spend our time wisely.

Because of the thirst that business owners have to constantly improve productivity and efficiency, we’ve written about the topic often from various viewpoints and specific situations. To create a handy resource for private business owners, we compiled all of the articles to date in one place.

Creating A Credit Policy For Your Business – Do’s and Don’ts

April 4, 2012 by Leave a Comment

When times are tough and clients are harder to come by, you may be more inclined to offer credit – or loosen your current credit policies – to your existing customers to keep them on board. Sometimes, it may even be a necessity to offer credit if your competitors do.

Here are some do’s and don’ts when you decide to offer credit to clients and create a credit policy.

Tips for Better Cash Flow Management

January 4, 2012 by Leave a Comment

Cash is king and can determine whether a company stays in business. We’re going to quickly cover the fundamentals of cash flow before offering tips for better managing it.

Will The USPS Changes Impact Your Business?

December 13, 2011 by Leave a Comment

usps-mailboxes

It’s not news that the United States Postal Service is losing money. At a recent press conference, a USPS spokesperson claimed the organization loses were approximately $23 million per day. As a result, the USPS just announced it will be closing 252 of its 461 mail processing centers beginning early next year. This is a basic network cost optimization maneuver and nothing more.

However, the result is that the USPS logistical network will be permanently changed and it will force the delay of first-class mail. Regardless of how you feel about USPS and its approaches to dealing with their revenue shortfall, its changes are reality, and they will impact your business. In this post, I’ll evaluate the problem and provide some alternatives.

How To Survive (And Even Thrive) During Economic Malaise

September 20, 2011 by 1 Comment

It seems like on a daily basis now we are hit with a barrage of bad economic news. Although most experts do not expect a true double-dip recession to hit, many sectors of the economy have certainly slowed. Given this reality, we thought it might be a good idea to share some sage advice we came across recently on how to survive an economic slowdown. Both Thor Harris, president of the PR firm Percepture, and Carol Tice of Entrepreneur.com have come up with a few great ideas on this topic.

The Golden Rule of Payables

September 8, 2011 by Leave a Comment

money-cash-flowDuring times of economic uncertainty, payables and receivables become a core focus of any privately owned business. The reason is simple: They govern cash flow.

Instead of trying to provide you with a mathematical or system-based approach to optimizing your cash flow, I wanted to take a step back and have a realistic discussion about your business mindset when it comes to accounts payable. I’ve called it the “Golden Rule of Payables” because we really do want others to treat us well when it comes to our receivables. If we start by doing our part in paying our bills, good things can happen.

Pension Plans and Equity Firms

July 19, 2011 by Leave a Comment

Many of you may be unaware of the considerable investment that pension funds make in private equity firms.  You probably assume that pension funds, in order to keep their funds safe, only invest in assets that are “public” and therefore more transparent to the investing community.  However, over the years, pension funds have learned that private equity firms provide them with a nice vehicle for diversifying their holdings.

The Challenges of Growing a Business To Make It Buyer Ready

July 12, 2011 by Leave a Comment

Those of you that read this online publication on a regular basis know that we started a conversation several weeks ago on the topic of creating a buyer ready business. The first article looked at the emotions involved in deciding to sell and the second article examined some specific steps to create a buyer ready business.

So I was intrigued when a colleague forwarded an article delving into the challenges of growing an “entrepreneurial business.” This is a business that doesn’t just survive through the years but also thrives. This would also be, in keeping with our theme, a buyer ready business. So I thought I would share a few ideas from Ed Hess, professor of business administration and Batten Executive-in-Residence at University of Virginia’s Darden School of Business.