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Value Creation Blog

Are You Brave?

braveryYou have a customer you feel is being unfair. You’re afraid that if you tell them the truth from your point of view you’re going to be fired. You need to learn how to say no and just haven’t figured out how to do it.

Does this sound like a situation you’ve been in recently? If so, you’re not alone. We all have times we have clients who are either being unfair or you feel are taking advantage of you. Learning to say no is a challenge. If you don’t, you become a doormat. You don’t want to be a doormat, do you?

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Topics: value creation, communication, strategic marketing

6 Reasons You Need To Know Who You Are - Niche

nicheNo, I’m not talking about why you exist on the planet. I’m talking about why your company exists. Too often we start a company because we have an idea. You might have done this yourself. When you first started you might even have thought for a little about what your reason for starting was. I bet that after a while you forgot all about this and just concentrated on getting stuff out the door.

With a reason you can get others to come along for the ride.

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Topics: niche business, strategic marketing, niche

5 Reasons You Need To Spend 20% Of Your Time Marketing

marketing resized 600It might not be 20% of your time, but it will be at least that much if you want to have a continual source of revenue.  One of the big problems you have when you run a small business is that there are dry spells of not having enough new business to service.

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Topics: business coaching, strategic marketing, selling

Do You Know Where You Make Money?

key metrics resized 600If you don’t, you need to.  This is not a soft squishy metric, this is a hard one.  It’s not based on how much business a customer does.  It’s based on how much profit a customer produces.  It’s not about having a prestigious customer (there aren’t any), it’s about cash in your pocket.

Somewhere around 30 years ago I put an account profit and loss system in our vending company.  For the first time I was able to evaluate how much profit we made on each and every account we had.  Boy, was I surprised.  I thought I knew my business and I was sure I knew which accounts made us money and which ones didn’t.  I was wrong and wrong.

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Topics: profitability, business coaching, strategic marketing

Why Are You Scared To Share Your Numbers?

share content resized 600I’m a big fan of what’s called open book management.  This is where you share your financial results and numbers with everyone in your company.  Even better, it’s where you not only share financial information, but you also build a compensation system based on your company’s results.

I always, yes always, get pushback when I bring this topic up.  The usual comment I get is, “I can’t share my numbers, what if my competitors see them?”  My reaction is always, “So what, do you really think your competitors will learn anything useful?”

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Topics: business coaching, value creation, strategic marketing

Don’t Let Your Employees Be Confused About What You Do

confusion resized 600I recently ate lunch with someone who wanted me to provide referrals to them.  I do these meetings from time to time so I can fill out my Rolodex with qualified experts.  I also find them interesting because I get to see how well employers prepare their employees to represent their company.

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Topics: business coaching, for business owners, strategic marketing

You Better Tell Your Customers And Prospects Why You're Unique

unique abilityA few months ago I went to a program sponsored by VMEC (Vermont Manufacturing Exchange Center) on innovation.  The program was taught by Doug Hall who has a developed a systematic way of approaching and implementing innovation in your company.

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Topics: value creation, strategic marketing, unique ability

Do You Monetize Your Intellectual Capital?

Android vs iPhone

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Topics: for business owners, enterprise value, strategic marketing

Don’t Let Your Customers Commoditize You – Enterprise Value

MultiTool Companies large and small try to commoditize their suppliers.  Those businesses that allow this to happen will often have a future of profit challenges.

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Topics: for business owners, enterprise value, strategic marketing

Want To Be Successful? Work With Clients You’ll Be Successful With

Successful Partnership

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Topics: for business owners, strategic marketing, niche management, niche

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