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Archive

24 Nov What do I need to succeed in business?

There’s no formula for business success. No math will help you except the math on your balance sheet, so don’t look for one. There are some things that can help you, though. Sound management practices, technical support, experience in whatever industry you’re in, and the...

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24 Nov I’m considering offering teleclasses to my employees so they can learn new things. Is there an advantage to doing it this way rather than holding a company retreat or similar and doing it in person?

There are several advantages to a teleclass if your company is large enough to support it. You can reach a wider audience for less cost. It's more environmentally sound to not have people traveling all over the place. People can review later if they want....

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24 Nov We are open 6 days a week, today being Wednesday; we might get 2 people in all day. This trend has been happening since January of this year, every Wednesday the same. My question is do you think it would hurt my business to go ahead and just close on Wednesdays?

You need to consider whether it's worth the time to stay open. Do you have a large electricity output? Are there costs associated with operation that need to be offset by actual customers on a daily basis? Is there a reason for the slow day...

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24 Nov Our leather supplier increased his price, part of which we need to pass on the customers. Switching suppliers might require a trial and error period if no prior relationship is established. Are there other options besides switching to a new supplier and the potential future quality of my products?

When you're talking about working with suppliers, you're talking about a relationship with another business owner. That relationship has to be about more than money. I can see that you're concerned about quality, but have you considered service? Delivery? How fast you're taken care of...

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24 Nov What is a USP?

A USP is an acronym for “unique selling proposition.” Basically, it's a concept that originated in the 1940's and the idea is that every advertisement makes a proposition to the customer that suggests that buying the product or using the service will grant them a...

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