The acronym CPA, in this case, stands for Customer Profitability Analysis. Many businesses have customers who take advantage of them, to the detriment of other good customers. To understand CPA the entrepreneur needs to understand the concepts of direct and indirect expenses. Direct expenses equate to the cost of goods sold (COGS) and any labor […]
How to Use CPA to Fire Loser Customers Read More »
Most business owners appeal directly to their customers, but sometimes an indirect approach may work better. Since I make my home in Colorado, where recreational marijuana is now legal and high capacity magazines are not illegal, I can see how politicians use these indirect means to drive their people to the polls. For example, in
Indirect Marketing Efforts Read More »
New government policies and news events affect group-thinking, which also creates sales opportunities. For example, recent talk of potential gun legislation caused a run on guns and ammo. Movement, whether economic or emotional, creates opportunities for small businesses who can spot them and react more quickly than larger companies. Savvy small business owners look at
Do You Leverage Group Think? Read More »
On a recent trip to visit our son, we went to dinner at a nice restaurant. When the meal was served my son’s Chicken Alfredo contained a rather large bone, on which he nearly choked. When the owner was summoned to the table he began to explain that it was not possible for the bone
Social Media Can Make Or Break You Read More »
Many years ago typing was a skill that only a fraction of the workforce possessed. In fact, I had one job where I was concerned about my ability to be successful. The job description clearly required typing skills, and although I took typing in school I was not very proficient. Typing is no longer considered
Social Media: The New Selectric Typewriter Read More »
An up-and-coming New York-based production company was preparing to release a new movie short. They employed a clown to appear at random locations in the NY area. People noticed. Soon the clown was being spotted all over town. Without any explanation for the clown, people took to the internet to unravel the mystery. Soon, the
Time To Clown Around And Get Noticed Read More »
Pepsi recently employed an innovative idea to get noticed in a sea of street-level billboards. The company shot a video from the point of view of a person on the street and displayed it on an outdoor LCD flat screen bus shelter. Then they added a bizarre event, like a giant tentacle popping up a
Word of mouth is a great way to build brand awareness, but how do you get people to talk about you or your company? Be outrageous. Ever see Lady Gaga on TV? She is never dressed as a normal person. Perhaps she is draped in meat or sporting some crazy headdress. What comes to mind
Outrageous Marketing to Get Noticed Read More »
Once a month I sit on a military transition panel where the audience includes perhaps a dozen or so folks considering following an entrepreneurial path after separating from the armed forces. I often ask them why are they considering going into business rather than “working for the man,” as they say. I get the usual
Diversify: Good Advice For Stocks, Good Advice For Business Read More »
Is social media just another way to separate a business owner’s money from the business? Small business owners hear that to be successful these days they have to have a social media presence. I remember with the advent of the Internet business owners were told that to be successful they needed to have a web page.
What is the Role of Social Media? Read More »
