You are in a leadership position. What you do and say affect others profoundly. Be positive and upbeat with staff, customers, suppliers, prospects and family. The process begins by changing your thinking. The change in your business will follow. The following are some tips, or steps. There is a Chinese saying a 1,000 mile journey begins with a single step. Begin with your small steps. Do them repeatedly. A new business habit occurs after doing it 30 days.
1) Remove yourself from others complaining about the economy and lack of business. Surround yourself with winners, upbeat staff, friends and clients. It becomes infectious. Separate clients, family and friends as health food and junk food people. Junk food people may be friendly, pull you away from or delay important tasks and waste time. Retain a relationship with them, but cut back and minimize time with them while increasing time with healthy food relationships. It will change your world and make your life richer.
2) Start each staff meeting with members relating a personal success at work or outside of work since your last meeting. It sets a positive tone, and brings smiles throughout the balance of the meeting.
3) Put an empty coffee can in the office. Have individuals throw in a quarter make they criticize or make a negative comment. In time, a negative comment creates others saying, "Hit the can!"
4) Place a mirror by your phone. When you’re talking or making a call check and see if you are wearing a smile. Believe me it does wonders for you making more effective client calls, prospect calls and conveying your thoughts.
5) Have a staff/employee meeting to establish 10 reasons why clients/customers should do business with your firm. You probably will have many more, but prioritize your top ten. Next post them on the walls in your offices, add them to your web site, and create an embossed card to be passed out by employees and management. The card should be given to existing clients, prospects, vendors and all they come in contact with. Consider including the card whenever you pay a bill.
6) Bring on new staff; perhaps a key employee from a declining competitor. There are a lot of other good people who are looking for a work and were let go. This step does wonders to motivate slackers who seem "retired" in your business. It helps them realize if they don't start producing and adding value, they will be the next one replaced by a new employee.
7) Go through your business and personal check book and separate, then eliminate, all your “nice to have” from your “need to have.” Next, create a new 6 months budgeted financial statement representing a leaner document with drastic cuts in place.
8) With employees: consider not replacing departing employees; 4 day work weeks rather than five; or reducing all salaries, boss/owner included, by a certain percent. You may ask employees to decide.
9) Take time to re-examine your business model. If you sell a product consider a service aspect and charging for it. Jack Welch did this at GE and sales and profits soared.
10) Establish a new, or renew a line of credit for potential needed funds for the months ahead.
11) If in a positive cash position it is a great time for acquisitions and making strategic business moves. Better terms can be negotiated in a weak economy.
12) Build more value in your goods and services. Then raise your prices. Prospects and existing clients will often see greater value in staying with or becoming a customer of a positive and perceived thriving company.
13) Change a portion of your marketing budget to focus on niche markets: Hispanic, African American, religious, conservative, liberal or other ethnic markets.
14) Stay on top of collections and past due accounts. It is not a sale until you collect the money.
15) Gravity, an Alan Weiss term: write industry articles, speak at your conferences, write a book, start a newsletter, teach at a school or university, or start a blog.
16) Research your past accounts, give them a call and say, “Just checking in.”
17) Return to the Basics. Put on your hat and call on existing customers and prospects. Pick up the phone and start cold calling. I have crafted an article; Veteran Cold Calling. Contact me for a free copy.
18) Take a course at a local university or a community college. Buy tapes, CDs and a book. Then listen to them and read the publication. Join a health club.
19) Install a new program with staff to submit ideas to cut corners, costs and create other operating efficiencies. Determine the value of their ideas impacting your organization. Reward them with time off, a bonus, a family weekend at a resort, dinner at a local restaurant, a plaque or award. Salute them in staff meetings, company newsletter or in an industry article.
20) Boost your networking. When times are great, you may have more business than you can handle; when times are not so great, get the business you need by strengthening personal relationships with potential customers and those in a position to refer you to others who need of your product/service.
21) Put 3 marbles, I use dice, in your pocket. Every time you ask for a referral switch a marble to your other pocket. Your day doesn’t end until all marbles are switched to your other pocket. Figuring a 50 business week in a year, and 3 requests a day, you’ve made 750 requests for a referral during one year. That has to lead to more business.
22) When calling on prospects, valued customers or at the clubs and organizations you belong to a simple question: “What are you most proud of you accomplished this past year at work, and outside of work?” Their answers will amaze you.
23) What is your business tip?
If you have found these tips and suggestions valuable; copy them down and send them to your prospects, clients, customers, clubs, and organizations on your letterhead. Your advice may not only enable them to survive, but accelerate them to thrive.
