Seven key areas to focus on to increase profitability

Getting more of your ideal customers is key

Seven key areas to focus on to increase profitabilityJerry reached out to us because he wanted to get out of his business. The business, he said, was “too stressful,” and he “was tired of struggling.” During our discussions with Jerry, we discovered that while the business was doing several million dollars in sales, it was only marginally profitable. Jerry had to work extra…

Are you taking enough pride in your work?

Here are a number of ways to increase opportunities to feel pride

Are you taking enough pride in your work?I Used to Write for Sports Illustrated. Now I Deliver Packages for Amazon is a brilliant article by Austin Murphy in the December 2018 issue of The Atlantic. Murphy articulates his career journey as a result of being in an industry disrupted by technology. What really resonated for me about his story was his transformation…

The costs and benefits of letting your customer service slip

When we don’t care about clients, we create a culture of complacency that infects our whole organization

The costs and benefits of letting your customer service slipOne of my in-laws spent two hours on hold with an airline company last week after his travel agent had spent four hours on hold with the same company. When I asked him about the experience, he said he was happy he didn’t have to wait longer and said the person who answered the phone…

How your employees can build or destroy your brand

Employees play an integral part in the success or failure of a business

How your employees can build or destroy your brandWe were walking by the Vancouver airport recently and an employee was standing outside of the Plaza Premium Lounge greeting passersby and encouraging them to try the service. More akin to the credit card hawkers you typically find in an airport than a lounge greeter, this woman was engaging and aiming to please. If I…

A smile can change your future, and your business

Smiles release serotonin and dopamine in your brain, and that helps improve your mood

A smile can change your future, and your businessWhenever I give a presentation on the impact of body language in the workplace, I always include a section on the power of a smile. That’s because research shows that facial expressions send feedback from your face to your left frontal cortex, which in turn triggers the release of the neurotransmitters serotonin and dopamine into…

These strategies will help make your business profitable

Could improve your performance by 10 per cent and double your profits

These strategies will help make your business profitableImagine slaving away for years in your own business only to find out that it isn’t worth anything. I regularly meet with business owners who ask me how much their business is worth and I have to tell them the disappointing news that it’s actually worth very little. The reason their business isn’t worth anything…

Five easy ways to increase your sales that don’t cost much money

Focus on existing customers, reach past customers, increase prices, work on conversion rates and change

Five easy ways to increase your sales that don’t cost much moneyJames sat down with us and put his head in his hands. As one of our partners noted later, he seemed like the weight of the world was on his shoulders. His company was doing millions of dollars in business but was struggling to stay open. James said he needed to come up with some…

Five things retailers must do to survive

Those who can adapt will thrive

Five things retailers must do to surviveI recently facilitated a meeting of a group of more than 100 retailers. Seventy per cent of them were either fearful or concerned about the future of their stores. And so they should be. Retailing is changing – you would have to be blind not to see that. When I started in retailing in the…

Four things you can change to improve your bottom line

The list of expenses for business owners sometimes feels never-ending

Four things you can change to improve your bottom lineProfit is one of the most misunderstood and misconstrued words in the English language. Customers often think that profit is anything between a company’s cost for a product or service and the customer’s purchase price. Employees think profit is the difference between the selling price and the cost, less their wages. In reality, profit is…
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