Business Accelerants Blog
Here it is May Day to celebrate turning the corner to summer and honoring the worker. Instead, a ship has sunk and people are out of jobs. The Risk of Disruption is one of 7 Forces affecting all businesses. Address it and the others; align them to move your business forward. It’s also National Small Business Week. Read about two small businesses weathering storms and working their sails (oops, I meant sales.)
What drives your business? Is it driven to produce products like Rolex timepieces? Or is it driven to provide services like State Farm insurance? Knowing what drives you will help you focus your efforts, prioritizing your time and investments and more.
Are you driven to succeed? Do you know how to stay focused on what works, what works well and avoid doing too many things mediocrely? Since 1980, Tregoe and Zimmerman have recommended nine drivers for a company. Stray too far, and you’ll be going the wrong way down a one-way street.
Demographers, using broad brush strokes, are painting pictures of different generations that are, basically, stereotypes. That can lead to prejudice. Further, it does not account for the immigrant nature of our country or how to deal with people globally. We are all individuals. Learn about the 7 Elements of Culture for Business and seek to know the individual.
If you want to fetch 6X seller discretionary cash flow from your business, rather than 2X, start now to reinvest in your business. Grow it now. Don’t just talk about it, do it.
The sales process is most often referred to as a funnel. . . . I have a problem with this analogy to the sales process. If you pour more and more into the top of the funnel, it will soon overflow and you will lose leads. The funnel cannot support an unlimited amount going into the top. What happens to that lead . . .
I have to admit that some part of the business person in me is a closet geek. After all, I went to a technical, magnet high school and to a technical college. Yet, there is a direct connection between this and the emotional trigger that causes people to take action and buy something. Watch television commercials, especially for cars and trucks. Speed, performance, and “sexiness” are what are being sold to us. While the technical people at the car companies want to
The term “work-life balance” conjures up an image of everything in perfect balance with neither work nor life being heavier than it should be. To achieve anything near to “balance” there must be constant, continuous change through adjustments in the weight and position of work and life. It’s more like a teeter-totter where there is always some movement going on. Nothing is more important to many than to get the work-life balance right when it comes to the last one-quarter of life, the After-Business-Life™.
“No man is an island.” “We are all in this boat together.” Whether the boat is a project, small company, department of a larger company, the country, or the planet, we need to effectively work with people. Very Important People want to benefit from you Value Improvement Proposition.
Technology changes everything. Brick and Mortar style retail is in need of a new business model—and soon. Saving time and money with eCommerce is seriously changing retail, yet hands-on the product is important. The value of hands-on is less than the current cost, so change is needed.