By far the most common feedback I get from would-be entrepreneurs for not starting a business is related to their fear of failure and not being able to provide for their family. The traditional concept of a person quitting their day job to start a business is no longer valid. I think this concept remains […]
Number One Reason For Not Starting a Business Read More »
Ignorance can casue you to see things insider cannot. It’s great to be highly familiar with the industry in which you plan to compete, but many times insiders see too many challenges and obstacles and never start a new business. Entrepreneurs with limited industry knowledge sometimes see opportunities because the industry has changed in ways
Ignorance Can Be Bliss Read More »
Ever go to a high school dance where the dance floor was empty because nobody wanted to be the first one to dance? Finally, one brave couple strolls out, perhaps encouraged to do so by a chaperone or staff member, and before you know it the dance floor is full. You just witnessed “Priming”. Casinos
Can Your Business Benefit from Priming? Read More »
Each year businesses go through a budgeting cycle to plan expenditures for the upcoming year. If you have a new product or service which you sell to businesses, you would be wise to keep the customer’s budget year in mind. When you hit up a business in the middle of their budget year you may
Market to Budget Cycle Read More »
We experience life through our five senses. Each of these senses is connected through our unconscious mind to various emotions. When a message touches more than one sense it has multiplying effect to create a stronger memory or help in our recall. Therefore, when selling your product or service, try to incorporate as many senses
That Makes Five Senses Read More »
Fishing and hunting have lessons for the business owner. Being a hunter and fisherman I often read articles about hunting and fishing strategies. I recently watched a documentary about the whitetail deer population in the US. In 1700 there were approximately one million whitetail deer living in the US. By contrast, today’s estimates exceed thirty
Fish Where the Fish Are Read More »
Ever wonder what makes a good salesperson? While there are many attributes that make a good salesperson, being able to make the customer laugh is one of the most important. Humor creates a positive emotional connection between the salesperson and the customer. It breaks down some of the initial objection barriers while directing the customer’s
Being Funny Pays Dividends in Sales Read More »
Often I encounter clients that want to produce a product or service on the low end of the price window in the hopes that lower costs will mean more business for them. However, being the low-cost provider is not the best place to be unless your value proposition is clearly operational excellence. This is because
Operational Excellence – Why Quality Pays Read More »
When you send a package through the US Postal Service (USPS), you can buy insurance in case they lose your package, or you can save the cost and not purchase the insurance. If you do not buy the insurance it does not mean that the USPS will treat your package any differently. However, with insurance,
Buying the Right to Sue Read More »
I recently read an article talking about the school voucher program and how it would force schools to be more competitive. While I think there is some merit to the school voucher program there is a much more important business lesson here. A school voucher program would mean that parents could send their children to
