One of the main reasons clients leave is because they feel ignored. The cost of ignoring clients is high; you have to do more marketing and replace those clients when they leave. The antidote to this is easy: just stay in touch more with clients, and let them know you care about them and their […]
As a business owner, you have likely acquired many skills and are wearing many hats in your business. Although admirable, your versatility can often lead to slower growth for your company. This happens when you become the bottleneck. Here are five places to check to make sure you haven’t become the bottleneck in your own […]
Just about everyone suffers from a lack of time to do all the things they want, or even need, to do in their business. One of the solutions to freeing up your time is to delegate. The question is, what are the most effective tasks to delegate? Here are ten ideas for you to consider […]
You might not think you are in the business of pleasure, but we all are, to one degree or another. If we don’t give our clients a great experience, they’re not likely to come back. That’s why we can learn so much from the entertainment industry, even though we might not be in it directly. […]
Each month, you may anxiously await the reports that provide the numbers that help you manage your business. Revenue, net income, total expenses, and payroll costs are just a few of the items that you may be monitoring on your profit and loss statement. Those numbers will help you meet and improve your business goals, […]
Whether we run a large company with dozens of employees or run our own solo business, we rely on a support team of vendors, customers, employees, contractors, and other associates that help us carry out our business goals. Here’s a fun exercise to discover the strengths and weaknesses of your business support team and how […]
It’s always a good idea to help employees stay motivated, and there are many things you can do besides the traditional cash bonus. Here are twelve ideas that cost little yet go a long way with employees, contractors, and other business associates. 1. Compressed workweek. Employees love getting Friday afternoon off, or even a full […]
What have you been wanting to do in your business for a really long time? Perhaps you’ve been wanting to raise your prices. Maybe you want to hire an assistant or another team member but haven’t gotten around to it. Or maybe you want to work less and focus on personal time, but you haven’t […]
How much is the average client worth to your business? Not just per project or even per year, but for the lifetime of your business. Calculating the lifetime value of a client is an eye-opening exercise I recommend to every small business owner. Repeat business Let’s take several examples. A client who eats a $15 […]
Have you ever gone through your list of things to do and looked for the easiest thing to knock out first? Have you ever been moody when you’ve looked through your tasks and said to yourself, “I don’t feel like doing that one, that one, or that one?” Do you have some items on your […]