365 Local Small Business Tips 2017-06-25T21:57:18+00:00

365 Local Small Business Tips

 

Small Business TipsLocal Small Businesses are the backbone to all of our communities. Yet, why are there so few resources to help you, the local small business owner?  So let’s change that. Here is a growing list of 365 Small Business Tips for Local Small Business Owners.  These tips will help you increase your profits, boost your sales, improve your processes and develop stronger teams.

Now, this list of small business tips will continue to grow until we hit the 365 mark. They are in no particular order either, as they all will help you and your local small business.

Oh, and if you have any to add, head on down to the comment section and add your business tip that will help other local small business owners. You never know if I’ll add you to the growing list!

 




Local Small Business Tip #1 – Don’t Assume to Know What Your Customers Want

A big mistake we make as a local small business owners, is to assume what our customers need. The challenge is, they don’t always look for what they need, but rather, they do look for what they want. If you want to grow your business, you must learn what they want and provide it. So how do you know what they want? You have to ask them of course. Make sure you are getting out there and talking to your customers and clients.   For more on this topic listen to episode 17

 

Local Small Business Tip #2 – You Need to Know Your Product Costs

Whether you are a brick and mortar business or a service business, you will have product costs. It is imperative that you know what your product costs are on every product or service that you sell. So many business owners have no idea what their costs are for any given item. For example, if you sell a product for $9.99 do you know how much you pay for it? What if you had a service you did for $99. Do you know what those costs are? Don’t forget your time is part of that product cost on a service. But more on that later. For more on this topic listen to episode 57

 

Local Small Business Tip #3 – The Quality of Your Work Says What You Stand For

Your customers and clients will remember your business by two ways, how you treated them and the quality of the work you did. The best service in the world means nothing if you leave them with poor workmanship or with a poor product. So you will want to make sure that you demand the best out of yourself and your employees. For more on this topic listen to episode 80 

 

Local Small Business Tip #4 – Your Team is Your Secret Sauce

If your small business has a team, they will interact with 99% of your customers. They are your secret sauce for happy customers. You will want to make sure you hire the best, train the best and develop the best. If they are happy, well trained people, you will stand out head and shoulders above your competition. For more on this topic listen to episode 8

 

Local Small Business Tip #5 – You Must Respect Your Customer / Client’s Time

Your word means everything. The first opportunity you have to show you are a person of your word is when you show up when you promise you will. Customers are amazed when you show up on time. They are expecting the worse and are shocked when you do. What a great way to start your job with them already happy with your service and you haven’t even started yet! Remember, we all hate being disrespected, so please respect your client’s time. For more on this topic listen to episode 81

 

Small Business TipsLocal Small Business Tip #6 – Boost Your Sales by Increasing Your Traffic

There are 3 ways you increase your sales. The first way you do this is by increasing your traffic. If you have 100 customers, you just increase to 150 customers for example. Let’s say your dollar average stays the same at $10, then theoretically, your sales will increase $500. The $10 x 50 more customers. So, when you are looking to drive sales, this is the first of three ways to build a gameplan. For more on this topic listen to episode 20

 

Local Small Business Tip #7 – Boost Your Sales by Increasing Your Ticket Average

In our second of three ways to boost your sales, you can keep your number of customers the same but you can boost your sales by just creeping up that average ticket. So if we use our same 100 customer example at $10, and you found ways to increase you average ticket say $2 then you will increase your sale $200. (100 customers x $2 increase). The key is understanding if you do this via increase prices or add on sales. More ideas on this later. For more on this topic listen to episode 20

 

Local Small Business Tip #8 – Boost Your Sales by Increasing Your Frequency

In our final 3rd tip to increase your sales, you will want to increase you customer’s frequency. Instead of having to find 50 new customers, you can achieve the same result by getting 50 of your existing customers to be repeat business.  You can do this via punch cards and frequency specials for example. For more on this topic listen to episode 20

 

Local Small Business Tip #9 – Payroll is Your Biggest Controllable Expense

When looking to trim your expenses, you will want to start with your payroll. This doesn’t mean to pay people less. Pay them what they are worth. But statistics show our people work at 80% cacapacity. So instead of hiring more folks or giving more hours, work on getting more out of your people. If you can get the productivity of your folks up, it is the same as hiring more people with zero of the cost. For more on this topic listen to episode 65

 

Local Small Business Tip #10 – Teach Your People to Be Better Than You

So many leaders feel threatened when they think of their people being better than they are. The truth is, if you teach them to be better than you but sharing your lessons learned, their performance goes up and so does your businesses sales and profits. The best part is, by pushing them to be better, you also become a much stronger leader. So what are you afraid of? Train your team to be as awesome as you are! For more on this topic listen to episode 77 

 

Local Small Business Tip #11 – Your Lobby Tells Your Customers How Much You Care

Have you ever taken your family to your local fast food place only to have to pass 8 tables to find one remotely clean to sit? The trash cans are overflowing and the floors are sticky. What goes through your mind? What does it tell you about their backend? Maybe it is true, maybe it isn’t. But this horrible experience in the lobby tells you they do not care about your experience. Make it a top priority that no matter how busy you are, that someone is in your lobby constantly keeping it clean. For more on this topic listen to episode 78 

 

Local Small Business Tip #12 – How to Find Great Employees

If you need people for your team, even just temporary help, the key to finding great employees is to always be looking. Do not wait until you need them. Remember, great people already have a job in most cases. Look for them while you shop or use other businesses. For example, that kid at Walmart with great customer service skills will add tons of value to your team. Plant those seeds and help them realize what a great opportunity you have waiting for them! For more on this topic listen to episode 13

 

Local Small Business Tip #13 – Lack of communication will Kill Your Business

Our success as local small business owners is dependent upon great communication with our team and with our customers / clients. If something goes wrong, most cases it is due to poor communication at some point. If you have poor communication within your company, you are consistently chasing your tail putting out fires. Upset customers often are a product of poor communication but definitely if it escalates. Look in the mirror at your communication, whether it is email, text, calling, etc. Make sure it is clear and timely. For more on this topic listen to episode 36

 

Small Business TipsLocal Small Business Tip #14 – The Power of Facebook for Your Local Small Business

If you aren’t taking advantage of the power of Facebook then you are missing out. Local Small Businesses need to be active in their community pages. Not so much selling things but being an active participant. Put a face the name of your company. By spending 10 minutes a day, you can create relationships that payoff later. When folks ask for recommendations, you will be top of mind by others in the community and they will be the first to recommend you. You don’t sound salesy and they are your best marketing tool. For more on this topic listen to episode 16

 

Local Small Business Tip #15 – Try a Vehicle Wrap to Draw Attention to Your Business in the Community

If you are looking for a great return on your advertising dollars, then very few things will beat a vehicle wrap. While they aren't exactly cheap (average of $3,000) your true return comes from how long they last. With an average of 3-5 years, you are really paying roughly $50 a month. The best part? As you drive around town, you are a mobile bill board for your entire community to see. While they might not need you today, they will remember seeing you over and over and you will be the first to come to mind when they do need you. For more on this topic listen to episode 22

 

Local Small Business Tip #16 – Are Your Employees a Product Cost or an Expense

Not so much a tip but something you need to know. Employees can actually be either or both depending on how they are used with your products or services. If the employee is used to create the product, they are a product cost. For example, if they do the actual service, they are a cost you have. If they assemble the products as well. However, if they just service the customer or client, they are an expense. For more on this topic listen to episode 57

 

Local Small Business Tip #17 – Make Sure You & Your Team Present a Professional Image

When your employees are in front of your customers or clients, do they present a professional image? Are their clothes or uniforms clean? Are their pants pulled up? If you don’t have uniforms, do you have a minimum dress code expectation. For example, shorts a certain length, no tank tops, no ripped jeans. It is one thing if they work behind the scenes vs being the face of your small business.  Just make sure you both are presenting a professional image. For more on this topic listen to episode 90 

 

Local Small Business Tip #18 – Should You Be on Instagram? Yes if You Have a Visual Business

If you have a business that would show well in pictures, you should look at being on Instagram. This social media platform is great for stories that can be told in pictures. For example, if you can show before and after pictures or what possibilities your customers can do, these are the best. Landscaping ideas, remodels, food, are all great examples of folks that definitely should be on Instagram. For more on this topic listen to episode 79 

 

Local Small Business Tip #19 – Create the Awesome Attitude Each Morning

Before you hit the door running and gunning, you need to check your attitude first. Each day you want to pump yourself up for a freaking awesome day! Great things happen when we prepare and expect great things. Ask yourself, what are you telling yourself as you walk out your door!  For more on this topic listen Here

 

Small Business TipsLocal Small Business Tip #20 – Work to Achieve Some Type of Work / Life Balance

Ok, we all know this sometimes feel like the mythical unicorn but we can’t stop trying. But what is work / life balance any ways? I think the ultimate goal is to ensure that you A) take time for yourself on a regular basis and B) you don’t miss the important days in your family’s life. Schedule these important days first and work around them. Trust me, work will go on and you will have a better balance than you use to. For more on this topic listen to episode 62

 

Local Small Business Tip #21 – A Big Myth – Good People Just Aren’t Out There

This is a huge myth you need to stop believing and saying! Great people are out there, good people are out there and crappy folks too. Your problem is, you are expecting the great ones to walk through your door or land on the doorstep. The key is to A) Always be Hiring. Don’t let the good ones slip through just because you aren’t hiring at the moment. Never let great talent slip through. B) Go find them. Always be looking no matter what business you are visiting. For more on this topic listen to episode 59

 

Local Small Business Tip #22 – Working ON vs IN Your Business

You’ve heard this before I am sure. But what does it really mean? Local small business owners are famous for spending all day driving sales, doing the tasks of the job. The more business, the more they work IN the business. However, you MUST set aside time each day or at least each week to work ON your business. To work on better processes, developing plans to drive sales and improve you profit. Commit to spending 3 – 5 hours a week  to working ON your Business vs Just IN Your Business. Make it a habit! For more on this topic listen to episode 2

 

Local Small Business Tip #23 – Pay People What They Are Worth

We all want to feel appreciated. We all want to be compensated for the job we do. You need to pay your people what they are worth. They key is, to set the bar for each level of pay. Give them a clear understanding of how they increase their pay. When they hit those goals, give the increase as promised. They key is, pay needs to be tied into hitting expectations. Higher paid people are great to be on your team. They have the best customer service and they do the best job on their duties. The key is raising that bar annually!  Remember, you expect more out of a Cadillac than a VW bug.  For more on this topic listen to episode 65

 

Local Small Business Tip #24 – Be Results Orientated

You need to have goals. From mini daily goals to 1 year and 5 year goals. You need to set targets to hit. You need something to strive for. Without goals or having desired results, you will just go through the motions with no intent. Without targets to hit, you will spin your wheels and go into wash, rinse, repeat mode. No growth. Getting the same results day in and day out. Be aware of the results you want to hit!  For more on this topic listen to episode 26

 

Small Business TipsLocal Small Business Tip #25 – Don't Be a Victim of Your Own Success

Success is awesome! The problem when you are successful is, you have the potential to blow up your business. Too many small business owners do so many things right early on and the business explodes. The problem is, if the business explodes before you have the people, tools and resources in place, you risk ticking off clients and customers. You start to fall behind, skip corners and communication suffers. The very strengths that gained you the success, slide to weaknesses and cause your business to slide and fail. In order not be become a victim of your own success, you need to control the rate of the success and ensure that you are keeping up with the needs. For more on this topic listen to episode 21




Local Small Business Tip #26 – Be a Good Listener (customers and employees)

Great business owners understand the importance of being a good listener. Not only for their customers, but also for their team. When we first seek to understand (listen) we are able to identify their needs. Plus, it allows us to hear their concerns. Both of which are important to keeping both of these groups satisfied. Not to mention the impact it will have on the employee’s performance and your customer satisfaction. For more on this topic listen to episode 84 

 

Local Small Business Tip #27 – Does Your Business Have a Vision

When you started your small business you had a vision of what type of company you hoped to build. In this tip, I challenge you to revisit your vision, only this time, create one a vision that is forward 5 years from now. Your vision today will not mirror your vision from the beginning. So, time for a vision tune up! This time, take your business to that next level! For more on this topic listen to episode 74

 

Local Small Business Tip #28 – Empower Your Team & Don't Micromanage

The problem is, too many leaders want to micromanage their team. Listen, if you want to be successful, you must master the ability to empower your team to make most decisions during the course of their work day. The best way to do this, is, when they present you with a problem or an opportunity, you want to ask them what they think should happen. Even if they get it wrong, you teach them to think for themselves. Eventually that decision making muscle gets stronger and you empower them to make those decisions. For more on this topic listen to episode 86 

 

Local Small Business Tip #29 – Know Who is Your Competition

Don’t make the mistake of looking for the obvious competition. You want to think outside of the box. There are often competitors that we don’t think of. They might have a similar product or service or maybe they don’t offer all of your products or services but maybe they overlap with an item or two. You want to know all the options your customers or clients have so you can keep an eye on the good and the bad that they are doing. For more on this topic listen to episode 6

 

Small Business Tips

Local Small Business Tip #30 – You Need to Have a Sales Journal

You must have some type of tracking system to capture not only the sales that you did on a daily or weekly basis, but you also need to track season swings, weather impacts, community impacts, and specials you ran. No matter how much you try, you will not remember in a year. The sales journal acts as your memory when you are looking to see what happened the year prior. This way, you can maximize your sales and profits the next year.  For more on this topic listen to episode 18

 

Local Small Business Tip #31 – Show Your Team You Care

We all have had that boss that just didn’t care. They didn’t care if we were happy working there, they didn’t care about our ideas that we had, they didn’t care what was going on in our lives, they just cared about themselves. They made you feel like a number or a body. This causes you to have high turnover and poor performing teams. You need to make sure that your team knows you do care. You care about their ideas, you care about their life outside of work and that you care they happy with their job. Remember, employees that feel that their boss cares, perform at a much higher level and create more sales and happier customers. For more on this topic listen to episode 51

 

Local Small Business Tip #32 – Do You Have a Problem or an Opportunity?

This tip is a key to my success. One I learned early on from a great mentor. When you have a problem, it just feels icky. It pulls you down and puts you in a negative mindset. However, when you flip the situation and see it more as an opportunity, you look at the problem differently. You come at it with a more problem solving mindset. You see, an opportunity is a chance for you to grow and learn. So next time something isn’t going right, stop and see it as an opportunity to grow! For more on this topic listen to episode 87 

 

Local Small Business Tip #33 – Be a Leader vs Just a Manager

There is a big difference between being a leader and being a manager. Managers “manage” things, leaders “lead” people. Our people do the things, so we need to make sure that we are leading them on what needs done. Leaders provide the vision and the direction. Managers execute them. So yes, great leaders know when to lead and when to manage. The problem is, managers usually only know how to manage and forget to lead. So which will you be? For more on this topic listen to episode 29

 

Small Business TipsLocal Small Business Tip #34 – You Need an Employee Manual

Do you have an employee manual? You need one. An employee manual is a great tool to help set the stage on day one with your new team members on what you company is about, the rules they will need to follow and it will serve as the resource they need on your basic expectations.  No one can remember everything you tell them on those first few days, so an employee manual is a great way to help give them a hard copy. Don’t forget to cover the basic expectations like dress code, time off, vacations, sick time, schedules, etc.  For more on this topic listen to episode 46

 

Local Small Business Tip #35 – The #1 Reason for High Turnover – Hiring the Wrong Person

There are several reasons you will have high turnover, but the #1 reason most businesses have high turnover starts long before they punch the clock for the first time. So often a bad employee can be traced back to hiring them in the first place.  The owner needed a body now and they took the first one they could get. Or maybe they fell in love with the personality and missed all the warning signs of being snowed. We all have hired someone and wondered who was the person that showed up to work. Take your time to find the right person. The extra time upfront will save your costly turnover down the line. For more on this topic listen to episode 32

 

Local Small Business Tip #36 – What is Your Brand?

What would your customers tell you what your brand is? Sure you know what you hope they say, but what WOULD they say? Your brand is not what you want it to be, it is what the community sees your business as. Think about it, when you think Nike..What came to mind? Just Do It! I bet that is what passed through your head. Nike’s brand is about empowering it’s clients. What does your brand say now and what do you want it to say. For example, do people associate Great Customer Service with your Brand? If not, why? How can you build a better brand around customer service? For more on this topic listen to episode 9

 

Local Small Business Tip #37 – Don't Let Your Ego Get in the Way of Your Success

When you work in your business day in and day out, you get real confident about things. When other’s try and give feedback or thoughts, many small business owners brush their ideas off thinking no one knows their business like they do. The problem is, we need outside ideas. It helps us grow. Our ego, unfortunately shuts out these possible good ideas, thus stunting our success.  Most of the time we don’t realize our ego is in the way, so you always want to be open to new ideas and constructive feedback.  For more on this topic listen to episode 5

 

Local Small Business Tip #38 – Being Open to Change is a Key Trait You Need to Have

Let’s face it, change is coming faster and faster now a days. So as a local small business owner, you need to be able to change as well. Our customer’s needs change, technology changes and people change. If you aren’t adaptable, then you will be left in the dust by others that know how to shift with the changes. I’m not saying that you need to change equipment with the latest, greatest. But you do need to stay on top of changes in your field. If it makes sense, make the change. Small Businesses that have been in business for over 10 years have learned this key trait which is how they have be able to last so long. For more on this topic listen to episode 1

 

Small Business TipsLocal Small Business Tip #39 – You Must Know the Sales Needed to Hit Your Profit Goals

Let me ask you a question, if you were to add an addition $25,000 in profit this year to your business, would you know how much in sales you will need to do?  If you don’t, why?  We all want more profit, after all, that is why we work so hard. But why is it we never know how much we need to do in sales to get there? It is imperative that you work the numbers to know what you need to do in sales to hit your profit goals. We dive in deeper on how to do this in episode 3 of the show. I want each of you to make $100,000 in profit. But in order to do this, you need to know what your sales need to be. For more on this topic listen to episode 3

 

Local Small Business Tip #40 – Local Small Businesses Are Great for Paying off Debt

Did you know many local small businesses are started to help pay off personal debt? Folks start mowing lawns or doing other businesses on the side. Eventually they grow the business and go full time. So, I want to challenge you to grow your business debt free. Most small businesses don’t need loans. The key is having a plan to save for the expenses you need to grow your business. So if you are part time, and want to go full time, stay on track with being debt free! For more on this topic listen to episode 10

 

Local Small Business Tip #41 – Real Estate Agents are Gateways to More Sales

If you have a service based business that goes to people’s homes, then you are missing out on a great sales funnel if you are not partnered up with a real estate agent. They are very loyal to those that provide services to their clients and take great care of them. Plus, they are great at referring you not only to their clients but also other real estate agents! For more on this topic listen to episode 11

 

Local Small Business Tip #42 – Brainstorm Ideas to Increase Your Sales and Profits

Want more sales and profits? You will hear my theme of every local small business owner should make 100k in profits. One of the 8 steps to achieving this is to make sure you are always brainstorming ideas to increase your sales and profits. Dream big. Don’t get hung up on the “how” but capture the ideas, then work on what it will take. For more on this topic listen to episode 7

 

Local Small Business Tip #43 – Stop Losing Time Traveling Between Jobs

Your time is money. So every minute you waste going back and forth to pick up tools or resources is money you are wasting. That last time will never come back and you will never make up the money you could be making. So, work on cutting those trips back by ensuring you have everything you need prior to getting to the job site.  For more on this topic listen to episode 50

 


Local Small Business Tip #44 – Your People Are Your Greatest Asset  

If you have employees, then it is critical that you realize they are your greatest asset. You see, our employees take care of the vast majority (if not all) of your customers. So it is critical that they know how much you appreciate them. It is critical that you hire the best, train the best and develop the best. These folks can make or break your business, so make sure you creating the best team! For more on this topic listen to episode 12

 

Small Business TipsLocal Small Business Tip #45 – The Power of Your Calendar – Schedule important things first

Surprisingly, very few local small business owners know the power of having a schedule. They don’t take advantage of the calendar on their phone. This is one reason so many important things fall through the cracks. Not only customers but also their family. If you want to ensure you don’t miss key family dates, like baseball games or movie night, then make sure to put it on your calendar so you never miss out on the things that are important to those you love.   For more on this topic listen to episode 62

 

Local Small Business Tip #46 – Learning from Other People’s Mistakes & Successes

Great leaders in any business have learned that one of the keys to their success is being open to learning from others. Not just what they do well, but also from their failures. You should copy what they do well, and when you see the mistakes, study them, what can you learn from them. Don’t just dismiss them, as there are nuggets to be learned.   For more on this topic listen to episode 14

 

Local Small Business Tip #47 – Success Can Lead to Failure – Don't Be a Victim of Your Success

Business is booming. Sales are coming in like crazy. New clients / customers are reaching out weekly. You are about to fail. Huh? How does that happen? The problem with quick growth is too often small businesses grow faster than their processes, people and time can keep up with. Things start to fall through the cracks, quality starts to suffer, and soon the business becomes bigger than you are capable of. Grow at the rate you can keep up awesome service and quality. Don’t be a victim of your success!    For more on this topic listen to episode 15

 

Local Small Business Tip #48 – Always Have a Gameplan to Increase Your Profits

More sales are great, but sales without more profit are just a waste of your time. You need to always have a gameplan to improve your bottom line. Whether that is through sales, through improving your product costs or by improving your expenses. Trust me, big business knows this and always have plans in place to improve their profits, don’t you think you should as well?   For more on this topic listen to episode 4

 

Local Small Business Tip #49 – Walk Your Local Small Business Thru Your Customer's Eyes

Make sure you take time out each and every day to walk through your business from your customer’s point of view. Too often we see things through our eyes and not what our customers see. You will see poor service, dirty areas, out of stocks, etc. You might see stuff they need to walk over, missing signs, who knows. Your business will be more customer centric if you do this.   For more on this topic listen to episode 17hire the best

 

Local Small Business Tip #50 – Hire the Best, Train the Best and Develop the Best

If you have a team, then this mantra is something I want you to memorize. The key to your success is going to be hiring the best, training them well and developing the best team. If you look at high performing teams, the leadership believes in this and lives it. It is a privilege to be on this type of team and everyone has the same goal of being the best. So set the tone for your team and live these three goals.     For more on this topic listen to episode 92 




Local Small Business Tip #51 – You Need a Sales Journal to Track Key Metrics

I am a big fan of keeping a sales journal to track key metrics. No matter how great your memory is, you will not remember the sales bumps or dips due to weather related influence. Nor will you remember the specific details on when to get in and out of certain products or services. A sales journal allows you to document key metrics, as well as key influences that will allow you to be prepared in the coming year. Track sales, weather, community events, road closures, etc. Anything that impacts your business. For more on this topic listen to episode 18

 

Local Small Business Tip #52 – Don't Let Customer Complaints Fester

One of the worst things you can do is let customer complaints fester and grow. When you don't resolve a customer problem, it just allows the customer's anger to grow. This anger grows not only towards you and your business, but it also allows them to tell their family and friends how they were treated. This then leads to a reputation of not taking care of our customers. Never let these customer complaints fester in your community. For more on this topic listen to episode 89 

 

Local Small Business Tip #53 – Find Help that Sticks Around by Hiring Right in the First Place 

Never, ever hire people out of desperation. When you do, you end up with poor performers that never stick around or you end up having a desire to fire within 60 days. We call this hiring those that can fog up a mirror. It never ends well. You want to make sure you spend the time up front and hire the right people in the first place. When you do, you end up with a better-quality employee and the odds go up dramatically that they will stick around if treated well. For more on this topic listen to episode 13

 

Local Small Business Tip #54 – Deal with Problem Employees Quickly

When you have a problem employee you want to deal with them quickly. But quickly might mean something different with each problem employee. Are they a problem due to lack of training? then train them, if they are a problem due to attitude then council and hold accountable, if they are a problem due to poor customer service, then set expectations. What you don't want to do is allow it to fester and grow. It becomes a cancer within your business. So deal with these problem employees quickly. For more on this topic listen to episode 7

 

Local Small Business Tip #55 – Know What Your Competitors Do Well

Don't make the mistake that a lot of small business owners make by only focusing on what your competition does poorly. It is easy to point out what people do wrong, however, it takes a real business leader to focus on leaning what their competition is doing better than they are. You want to learn what it is, study how they do it, learn how to make it better and then implement it. Always pay attention to what your competition is doing well! I promise, it will make you better!  For more on this topic listen to episode 6

 

Local Small Business Tip #56 – Failure Isn't Fatal, You Will Survive

This is a lesson I learned the hard way. I use to think that a business failure would mean I was not meant for a small business. In my case, I ran a great business. Just one that wasn’t strong enough to survive the recession. No I run a successful business and realize that failed businesses teach us lessons. If you learn from those lessons, you grow tremendously and so does your new business!    For more on this topic listen to episode 24

 

Making MoneyLocal Small Business Tip #57 – The Money is Made in the Repeat Business

If you want to grow your business, the key is to figure out how to create repeat businesses. The money is made when you crack the code to getting your customers to come back over and over. You do this by offering fantastic customer service and an excellent product or service. It is much easier to retain customers than it is to create new ones.   For more on this topic listen to episode 98

 

Local Small Business Tip #58 – Don't Rely on Your Franchise for Your Advertising

If you own a franchise and you think that your franchisor will provide enough advertising for your local business you are in for a rude awaking. They just don’t. You will need to set aside additional advertising dollars to target your local community. Franchises are great for the larger markets and the national brand but rarely hit the local community so you will want to have a plan for local advertisers or coupon papers. The national marketing makes you name but your local stuff brings in new customers not as familiar with your business.   For more on this topic listen to episode 16

 

Local Small Business Tip #59 – Start Each Year with a Set of Goals for Your Small Business

You cannot roll into a new year without a plan. It is important that you set goals for the year. What will be your profit goal? Your sales goal? What will be the processes you will work on? What types of advertising will you try? Set goals that ensure your business is in a much better place by the end of the year.  For more on this topic listen to episode 26

 

Local Small Business Tip #60 – Know the Warning Signs of a Dying Business

When you are busy, it is easy to miss the warning signs that your business might actually be dying. Maybe your business’s word of mouth is getting worse, or maybe sales have gone flat or slightly dipping? If you are lacking new ideas or innovation, or cash has gotten tight. Keep an eye out for negative trends. They are all signs of a dying business. But the good news is, you can usually right the ship.  For more on this topic listen to episode 27

 

Local Small Business Tip #61 – You Must Do the Work to Achieve Success

If you sit around waiting for your business to take off, you are going to be waiting for a long time. The only thing that is going to make your business a success, is if you get out there and do the work! You need to hustle, you need to have a plan and most importantly, you need to execute that plan. So if you are waiting for great things to happen, knock it off. It is time for you get out there do the work!  For more on this topic listen to episode 23

 

Local Small Business Tip #62 – Know When it is Time to Close Up Shop

If you are struggling in your business, you will be faced with having to make the decision to keep plowing through or to close up shop. This is not an easy decision. Let’s face it, we never like to think we have failed. But if you have done everything humanly possible to keep your business afloat and you still are struggling, then it might be time to end the business. This doesn’t mean you failed, it just means you have learned a lot of lessons for your next business. Don’t keep throwing money at something that will not make it. Use that money to start something new or pivot in a new direction.  For more on this topic listen to episode 28

 

Local Small Business Tip #63 – Today's Employees Work to Live – You Must Adapt

The first thing that we all need to understand is that times have changed. The days of putting the company first has disappeared for most folks. The vast majority of people no longer feel obligated to give more than they have to. While the old mentality may have been that somebody lives to work, the new mentality is people work to live. Their personal life far exceeds any loyalty to their company or place of work. Now don’t get me wrong, that doesn’t mean that they don’t give you 100% during the hours that they’re working. It just means that they are not going to continue to give up their life for their company. They watched their parents give up their life for many, many, many years to their company. So, get the most you can during the hours they are working. They can still be great employees!  For more on this topic listen to episode 76

 

selling customerLocal Small Business Tip #64 – You are in the “Re-Selling” Business not Just the Selling Business

It is much easier to get folks to come back than it is to get new customers. This is why you want to embrace the fact that you are in the “re-selling” business. You want to resell over and over to the same core group of customers. These are your loyal fans. You must make sure you have the processes in place to ensure you are giving awesome service and encouraging their repeat business. Win them over each time to keep them coming back.    

 

Local Small Business Tip #65 – What is Your Unique Selling Point?

So, what makes you stand out from your competitors? If you all do the same thing, why on earth would your customers or clients use you and your business over the others? You must have a unique selling point. Maybe extreme customer service, maybe it is a product or service the others don’t carry? Maybe you offer a core service for a price you can advertise over and over like the $49 AC Tune up. Whatever you pick, make sure it is your special, unique selling point .  For more on this topic listen to episode 109  COMING SOON

 

Local Small Business Tip #66 – Stop Wasting Profits Due to Your High Turnover

High turnover will cost you thousands of dollars in lost profit. Whenever you must replace an employee, not only are you out the costs of hiring and training, but you have months before they are up to speed and helping customers at full speed. You also have lost sales and profits prior to their loss if they had a poor attitude or were unhappy prior to leaving. One of your top goals should be reducing your turnover and ensuring you have a strong performing team and has high job satisfaction.  For more on this topic listen to episode 33

 

Local Small Business Tip #67 – Think Like a Leader Not a Manager   

Managers manage things, but leaders lead people. Sure, there will be parts of your day when you need to manage things, but if you have a team, you need to lead them to accomplish these things. They need a leader that provides the vision and how they will get there. Remember, your folks will do the vast majority of your tasks and help the majority of your customers. You must be the person that is providing the direction needed.   For more on this topic listen to episode 29

 

Local Small Business Tip #68 – Leverage Lost Leaders to Drive Your Sales & Profits

Lost leaders are those items you sell for a low margin but they drive traffic to your business. They are great items to build sales around. If you only sell these items and nothing else, you make no profit, do the key is to sell tons of them BUT WITH the other items that compliment them. For example, drywall is lost leader, but the mud, trowels, etc is where the money is made. You must sell the entire project. Use the lost leader to get them in the door, then sell the rest once you have them.  For more on this topic listen to episode 30

 

Local Small Business Tip #69 – Introverts & Extroverts Excel and Different Things

We are all different. Some of us feel energize when around others and others get drained when around groups. Some love the quiet and others go batty in the quiet. This uniqueness allows us to excel at different things. The key is to learn how to leverage your specific strengths. If you are uncomfortable with being around a lot of people, then you will need to rely more on your online presence vs getting out knocking on doors. Both personality types can be successful if they focus on the right things.   For more on this topic listen to episode 31




Local Small Business Tip #70 – Spend the Time Up Front to Hire the Right People

One huge mistake people make when hiring is they don’t take the time upfront to hire the right people. Let’s face it, hiring the right person takes time and patience. You will interview a lot of dudes. It can become frustrating and you just don’t have the time. However, when you hire the wrong people, you pay the price for months, if not years. The wrong hire can cost you money, not only due to wasted time, training, etc but also due to the poor customer service, lack of execution and not caring.  For more on this topic listen to episode 32

 

Local Small Business Tip #71 – Quick Way to Drum Up Sales: Reach Out to Past Customers

There comes a time in any business where you need to make some quick sales and some quick profit. The best way to do this is to reach out to your past customers or clients. Depending on your business, you can see if they need a new service, more product, or even a refresh. You also can check and see if they know anyone that might need your services. Remember, while your odds might not be high, you have better luck with “warm” customers that know you vs trying to cold call folks who don’t.    take.  For more on this topic listen to episode 102

 

Local Small Business Tip #72 – Don't Rule Out Using a Temporary Hiring Agency for Your Small Business

If you are in a tight hiring market, or you are only looking for help for a short spell, then don’t rule out using a temporary hiring agency for your small business. These folks come to you already screened and in most cases, have insurance in place as well. Bonus is, if you find a great person, you might even be able to hire them on full time. If you are struggling finding folks, it might be worth checking your local agency out.  For more on this topic listen to episode 105

 

Local Small Business Tip #73 – Use Your Competitors to Set Pricing, Later You Can Pull Away from the Pack

Your first level of pricing needs to be using your competitors to set your pricing. You want to ask yourself if you are competitive? Don’t just pick prices out of the thin air or base off your needs. You want to base it off what the community is telling you they will pay.  Remember, later, once you build a strong brand around quality and great service, you can start to inch your prices above your competition.   For more on this topic listen to episode 104

 

Local Small Business Tip #74 – You Set the Example for the Service Your Team Will Provide

Please make sure you are setting a great example on customer service with your employees. Do not accept poor service out of yourself. You must mirror the expectations that you have of your team. Even if you don’t have a team, you need to be a shining example in the community of what great service stands for. This is your brand, so make sure it is a great one. Your folks will follow your lead. Walk the Talk!  For more on this topic listen to episode 103

 

Local Small Business Tip #75 – Before Changing Your Products or Service, Listen to your Customers  

If you are thinking of changing your products or services, you will want to make sure that you communicate with your customers and clients. Make them part of the process, get their ideas and look for trends. Also, make sure that you communicate the changes and the why you are making them. By bringing your customers into the process, you increase the odds of success.  For more on this topic listen to episode 107

 

Local Small Business Tip #76 – Keep an Eye on the Service that Your Team Delivers Out in Your Customer’s Homes

Make sure you are watching the employees you sent out to other people's homes. You want folks with a great attitude and who do quality work. One bad apple can not only lose you one customer, but also all the people they will share their experience with.  You must have a process in place to follow up and make surprise showings to ensure your customers are well taken care of.  For more on this topic listen to episode 102

 

Local Small Business Tip #77 – Focus on Cash Flow in Your Business

While most local small business owners don’t use the word cash flow it is still important to understand the term and why it is important that you focus on Cash Flow in your small business. Cash flow is the amount of money you make and spend. You must have a positive cash flow and in order to do this, you need to know your outgo and have a plan in place to far exceed this in sales. This is a key factor in your ability to hit your $100,000 in profits as well.  For more on this topic listen to episode 105

 

Local Small Business Tip #78 – Have a Separate Checking Account for My Business

A big mistake that a lot of small business owners make is they don’t set up a separate checking account for their business. It is very important that you keep your business expenses separate from your personal expenses. Not only does it help with taxes, as if audited it is nice and clean and no questions on your deductions. You want to pay yourself out of the account and move the money over to an account you will use for personal reasons.  For more on this topic listen to episode 101

 

Local Small Business Tip #79 – Don’t Be a Pushy Sales Person  

If you do any cold calling, you must make a personal connection first and not insult your target audience just because they aren’t ready to hear your sales pitch at this time. Insulting them will only cause them to remember your company in a negative way but also in a way that will trickle to their family, friends and neighbors. Pushy folks are an immediate “no” but if you connect first, you at least can have a few moments to have a “possibility”.   For more on this topic listen to episode 104




 

Local Small Business Tip #80 – Discover What it Will Take to Recession Proof Your Business

While the economy might be doing ok today, it is important to study those that have been in business for 10, 20 or 30 years and what they have done to ride out the market waves. You must learn to adapt and recognized when you need to start making those shifts in your business before it is too late. Those that have been around awhile, have learned to make the shifts, so study them so you are ready to have a business that lasts for generations to come.  For more on this topic listen to episode 103

 

Local Small Business Tip #81 – Take Advantage of the Highest Dollar Average Areas in Your Store

Walk your brick and mortar for opportunities to take advantage of getting some additional sales and profits. Are you maximizing these five spaces: endcap/wingstacks, front register area, displays, chip clips and finally a seasonal swing area? Do you have the right items in these locations? Remember, the key is impulse, impulse and impulse. These are the highest dollar producing spaces you have, so you will want to focus on these areas on a daily basis.  For more on this topic listen to episode 102

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DON'T WORRY.… MORE LOCAL SMALL BUSINESS TIPS ARE COMING SOON!

Meanwhile, if you have a small business tip you think should be on the list, type it in the comment section and I'd love to feature yours!

The only rule is, it needs to work for Local Small Business Owners and not just online folks.




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