by | Sep 2, 2016 | Cash Flow, Sales & Marketing, Small Business Owners, Small Business Success Series
Creating product tiers is one of the easiest ways to increase sales from your current customers. All it requires is that you design more elite versions of your current products. You and your customers are already used to this. We see examples everywhere:...
by | Sep 1, 2016 | Cash Flow, Small Business Success Series
When I first was hired as the CFO of the local Coca-Cola bottling plant, one of my first duties was to put together a policy for collecting receivables. After three months of work, I had reduced our past-due receivables by over 75 percent. I then wrote...
by | Aug 26, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Small Business Owners, Small Business Success Series
I was like most business owners when I started. I was good at doing the core product and thought that would be enough. My training and experience had made me a good CPA. But I had never been trained in marketing and sales. I thought if I...
by | Aug 25, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Cost Cutting, Personal financial planning, Sales & Marketing, Small Business Success Series
When you sell a product that the customer perceives as a commodity, you can only compete on price. A small business owner always loses a price war to the “big boys” who have the ability to buy products in bulk and have cost savings as a result of economies of...
by | Aug 24, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Small Business Owners, Small Business Success Series
The formula for business success is amazingly simple. It consists of the following: Find the hungry customers. Dan Kennedy is famous for saying, “The number one thing I would want if I owned a restaurant is hungry customers.” By this he...
by | Aug 18, 2016 | Business Profit & Cash Flow Tips, Business Success Series, Sales & Marketing, Small Business Owners, Small Business Success Series
A study published by Bob Thompson, “The Loyalty Connection: Secrets to Customer Retention and Increased Profit”, found that 73 percent of customers who stopped buying from a business did so because of customer service. Further digging showed that...
