Management

How To Know What Your Customer Really Thinks About You

»Posted by on Oct 10, 2011 in Business Communications, Customer Relationships, Management | 0 comments

    An important component of growth is effective communication with customers. You expect all employees to pass information up the ladder to top management, but the more employees you have the more difficult it becomes. It may take too long.   It can also be neglected, especially if the feedback is negative, and employees feel the need to protect themselves from blame. Growth challenges the ability of management to stay informed. This makes investing in good employees vital to your success, because they work directly with customers. Hire friendly, energetic, and confident employees who can set...

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Pick Your Stocks or Your Business

»Posted by on Sep 26, 2011 in Business Growth, Business Valuation, Exit Strategy, Growth Strategies, Management, Selling A Business | 0 comments

Let’s say you have a choice.  You can keep your business, or you can keep your stock portfolio. Which would you choose?  The most valuable, I’m sure. What are your stocks worth today?  You check them every day, right?  Almost everyone does. What is your business worth?  You check it every month, right?  Virtually nobody does. Why is that?  Why can most business owners tell me what their stocks are worth, but not what their business is worth? This wouldn’t be true if they managed their business like an investment. It’s a matter of focus. Get blog updates in your...

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Your Satisfied Customer Sits On A Three-legged Stool

»Posted by on Sep 15, 2011 in Business Growth, Coaching, Growth Strategies, Management, Sales & Marketing | 0 comments

Picture your satisfied customer sitting on a three-legged stool.  If all three legs are the same length, your customer sits upright and comfortable.  If either leg is shorter or longer than the other, your customer will not sit comfortably, and is likely to slide off your stool and right out your front door. The three legs on a satisfied customer’s stool are: Price Quality Service Your price should be justified by the quality of your product and the adequacy of your service. A customer cannot reasonably expect your company to have the lowest price, the highest quality, and the best service. ...

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Do New Ideas Stretch Your Mind or Give You A Headache?

»Posted by on Sep 13, 2011 in Coaching, Management, Personal Development | 0 comments

Effective and creative people usually have fluid, flexible, adaptive minds. They are willing to do four things that set them apart as special people: Admit when they’re wrong. Face up to mistakes. Be flexible with new information. Cut their losses.  Admit It When You Are Wrong:  Simply say, “I was wrong.”  Many people are so concerned with being right that all their mental energy is consumed by stonewalling, bluffing, blaming, and denying. If you’re wrong, admit it, and get on to the solution or the next step. Face Up To Mistakes:  Ineffective and non-creative people think it’s a...

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Sometimes You Have To Just Bite The Bullet

»Posted by on Sep 6, 2011 in Management | 0 comments

Do you know in your heart that you have a problem?  It’s a big problem, and something needs to done about it, because it is going to get bigger if left alone. Wasting time can be fatal when change is needed. Sometimes you have to just bite the bullet. Here is a three-step plan to make big changes: Stop procrastinating.  Face your problem head on. Before changing things at the bottom or in the middle, look at what needs changing at the top. Replace an executive-only leadership team with a diverse leadership team from all parts of your company or division with a mix of management and workers.  Give this...

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Is Your Business Too Dependent On You?

»Posted by on Aug 24, 2011 in Business Growth, Management | 0 comments

Building a business is similar to raising children. As a parent, you should remember that your children are just passing through your life on the way to their life. At some point, you must let them go. It should be the same with your business. You should build your business with the goal of having it demand less and less of your time until the day when it no longer needs you on a day-to-day basis. With children, if you continue to direct their lives after they leave the nest, you’ll cause all kinds of trouble. You could possibly ruin the relationship, by not allowing them to develop in their own...

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