Category Archives: Small business

Get To Know Your Numbers

I always tell my small business clients that they can't afford to "leave the numbers to their accountants." Most people start their business to achieve a great goal, whether that be to serve their customers well, or to build a great product, or even just to do something they love while finding a way to enjoy life and spend time with family. So it's not surprising that small business owners with no formal training in accounting think that they can leave the numbers to their accountant. But you can't really, and this is why. (more…)...
Read more

Increase Your Sales By Increasing Just One Variable

All businesses want to increase sales! As a small business owner, you may be calculating next year's budgets right now as this financial year ends. You may have aspirational goals that you want to challenge yourself with by setting a sales budget for next year that is a significant percentage increase from this year. Then, when you have set it, the doubts start to creep in! "Can I really achieve that", you ask yourself, "it looks too much to achieve in just one year!" However, if you break your annual sales into three components, you can increase your sales by just increasing one variable, and you can increase it exponentially if you tweak an increase to all three. (more…)...
Read more

Customer Relationship Management In A Small Business

What is Customer Relationship Management, sometimes called CRM? To trendy business gurus, it is a data management system that consolidates all the data about your customers and allows all levels of your business to access that data so as to provide the best customer service and contact. But that's like saying the right way to service your car is with a box of tools! Customer Relationship Management is all about the managing of good relations with customers and prospective customers. The key to winning and keeping customers has always been about relationships. People like to do business with people they like. The question is how do you do this? (more…)...
Read more

Keep Emotions Out of Negotiations

Negotiating is part of being a small business owner. You negotiate contracts with suppliers. You negotiate employment contracts with your employees. You negotiate sales agreements, you negotiate pay-rises, you negotiate your rent! More often than not it is a stressful process (if not for you, then certainly for the other party) because the "normal" mindset is that one party loses to some extent, and the other party wins. So, you get ready to do your best when you enter that room, in order to "win". Once you allow that mindset to establish itself, negotiations become an emotional exercise - we get stressed, as I've already said; we get angry, we get fearful, we feel like celebrating, we feel wronged, we feel tough, we feel weak. But it doesn't have to be like that. (more…)...
Read more