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Archive for July, 2006

7 Ways to Destroy Your Business

Wednesday, July 26th, 2006

I own, manage, and spend a lot of time at a Metro PCS franchise in my hometown. I’ve been the owner since March 03, 2006. It wasn’t my first business; in fact I once was co-owner of a Dairy Goat Farm. I know, how interesting. Later on I’ll talk about that experience and all that I learned there. I titled this article 7 ways to destroy your business because if you do any of these things failure is guaranteed. This article will be pretty short compared to most of mine, because I don’t think too much explanation will be necessary.

1. Not advertising. If you don’t advertise it won’t matter how great your product or service is, no one will know about it. Make sure your ads reach your target market. Advertising reps will try to get you buy big explosive ads, but don’t feel like you have to. Consistency is the real key, keeping your name out there is most important. Don’t be afraid to use alternative forms of advertising either. Think door hangers, windshield flyers, street sign holders, cold calls, and even business to business solicitation (if allowed).

2. Hiring the wrong people. People make or break any organization. The wrong ones will destroy your business by costing you sales, offering poor customer service, and probably even stealing from you. Run ads to find your people, these will be much better than walk in applicants. When you find someone good, ask him/her for references for your new hires. Odds are he/she will know people like them that will do a good job. Also, don’t be afraid to pay an extra 1-2 dollars per hour above average for a good employee. They are your most valuable asset.

3. Not being there. The greatest single thing you can do is to show up at your business everyday, especially if you aren’t scheduled to be there. Employees work better when they know you might “pop in” at any time. Also, customers like seeing you, it makes them feel special. The whole “I know the owner” thing. Being there everyday isn’t your end goal, though. That’s why you work for yourself, so you don’t have to work all the time! Get to the point where you can hire a really good manager, then you can start to relax some.

4. Not keeping up with taxes. Uncle Sam has his hand in everything and at the end of the year the last thing you want is a bill from the IRS which you can’t afford. Putting aside money each month goes a long way. Even $50 a week becomes over $2500 a year. And set up a different account to keep up sales tax, and pay it monthly or quarterly, but keep up with it! Also, make sure you visit your accountant at least once a month or two and give them your bank records, they’ll appreciate it and you’ll sleep better knowing you won’t have to spend 3 sleepless weeks hunting for papers during tax season.

5. Selling something you don’t believe in. If you start a business with a product or service you wouldn’t use yourself, that will come across in your attitude and sales pitch. Customers can tell if you’re telling the truth or not, so pick something you would use! Try to hire employees that use your product or service, or give them a special price so they can partake in it. That way their enthusiasm will show when they talk to customers.

6. Not knowing your market. Along the same lines as advertising, but even more in depth. Can your burger business survive as is when a new fast food chain moves in across the street? How many potential customers exist for your product or service? Who are they? This will help with choosing who to advertise with. Before opening or closing any business, you should do an analysis of demographics, traffic flow, competition, and feasibility. These figures can help you decide to open your new business, or to close down a sure loser.

7. Not having some sort of a referral program. Customer’s love to talk, they love to share the new product or service they just got. Why not inspire them even more to talk by offering them something free for referring somebody. I offer free accessories for both the referred and referrer. I sell more phones, they get a free car charger and everyone’s happy. What could you give away to get more sales? Even offering 20% to customer’s who refer somebody helps, though something free is always better.

So there you have it. 7 sure fire ways to destroy your business. I know they will because in my younger and more vulnerable days I made most of these mistakes. Learn from me, so you won’t have to experience what I did. My goat farm venture ended with the government repossessed the goats. Sounds funny now, but what an experience!!

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The Power of Now

Tuesday, July 25th, 2006

This entry is a lot to chew on. I suggest reading it a few times. It’s important to remember that now is all we have, tomorrow doesn’t exist, nor does yesterday. They are both “nows” gone by and yet to come.

Now is one of the greatest words in the world. When I hear the word now, I think of accomplishment. In this day and age, we are a now society, but only when it comes to wanting others to do things for us. We want the fast food in our hands within 3 minutes or we’re complaining. We want popcorn in 2 minutes or less. We want overnight shipping and 24 hour service. I’m not saying these are necessarily bad things, they are what they are, but have you ever thought about your own actions?

Do your actions line up with this now philosophy? Do you find yourself getting things done on time? Do you accomplish the goals you have set within the time you allotted? Too many times, we are lenient on our own goals while expecting perfection from others. Jesus said it like this in Matthew 7:2-4,” “Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye? How can you say to your brother, ‘Let me take the speck out of your eye,’ when all the time there is a plank in your own eye?” Very interesting question. I’ll leave that for you to think about.

I believe in the power of now in our own lives. Now is all we really have. The past is over. I was listening to Dr. Wayne Dyer today and he made a funny observation. He was talking about the Peloponnesian War (war fought between Athens and Sparta). Dr. Dyer asked the audience to feel guilty about the war. It was after all, a real tragedy, thousands of people lost their lives in a horrific way. Many more were tortured and mistreated. So why then do we not feel guilt over that? The answer is because it happened a long time ago. And the reality is that yesterday is just as long gone as 5,000 years ago because both have already happened and cannot be changed. So we have no right to sit and wonder about the past, because it’s just as futile as worrying about the Peloponnesian War.

The power of now is really all we have. The future as I have said before is yet to be written. Well, that’s not true. The future has already been written. How, you ask? The future is determined by the decisions we make now. See where I’m going with this? I have a question I ask myself periodically if I am feeling cravings for foods I know I shouldn’t have. The question goes like this.

  • If I could choose right now to be fat or thin, what would I choose?

The answer, of course, is that I would choose to be thin. Not too hard, I’m sure all of you would agree with me. Next, I make this logical conclusion.

  • I make the choice to be fat or thin each day by deciding what foods I eat. Therefore, I am choosing to be thin by making the right food choices.

So, when I make the choice today to be thin, I have already realized the truth of my weight loss. Time doesn’t exist. Time is only a tool man uses to organize society. I use it to my advantage by understanding how it works. A decision made today is the seed of tomorrow. Tomorrow is merely the realization of today’s choices. So, I am safe to say I am thin. But wait I hear you say. You are still fat. You’re not thin yet. The observation is correct, but you’re viewing the problem with today’s eyes. Thinking for the future requires one to envision tomorrow. Begin by teaching yourself that you are in control of your life and that your choices bring about tomorrow’s reality. Soon, you’ll “get it”. Everything will click for you. I am here now in this moment and this time, right now is all that is real. And yet my thoughts allow me to see the future, to see how I will look when I reach my goal weight. This is the image I place in my mind and focus on, until the universe takes hold of my idea and works that famous law of sowing and reaping, the law that works just like gravity, and forces my thoughts to manifest by ensuring I continue on in action.

So with the past and future mere concepts, we are left to exist in the playground of now. Whatever we do in life has to happen now, because now is all we have. If you put off going to school now, you’ll only ending up going to school later, which is really just the now of the future. So you will do everything in your life right now, even if the now isn’t the now you are presently experiencing. Now is the best time to do anything, because now is the only time you can do it.

When is the best time to quit smoking? Now. When is the best time to lose weight and get healthy? Now. When is the best time to go to College? Now. When should you expect that miracle? Now. When should you step out in faith and do what you know you’re supposed to do? Say it with me, now. Today, this moment, now, is all we have, all we are. If you don’t do it now, you’ll have to wait for tomorrow’s now, and for what? Why not start right here, right now, and let the power of now inspire you to continue and succeed. You have the power to be, do, or have anything you want if you’re willing to make the sacrifices to get there. And when is the best time to make those sacrifices? You guessed it…

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