Action Coaching

Home grown lettuce on your Subway sandwich? Hmmm …

I’m not sure about this one …

Creativity online

I’m all for organic and going “green” and everything in between … but I’m not sure when (or if) this one will ever get over to the States …

If the concept does make it to our shores, I think this would complete it …

Way cool gardening tool …

Who knows … this concept could be the next evolution of the salad bar!

Jodie Shaw

Cashflow or profits?

In our last post we looked at the importance of generating leads over “building a brand” …

Now, for a more financially-oriented question:  What’s more vital initially for your business … cashflow or profit?

Hmmm …

We’ll tackle this one in a later post …

Jodie Shaw

Tuesday’s Answer … Branding or leads? What do you think?

So … what’s more important for a company (including yours) … branding?

Or leads?

Many creative types who work in ad agencies (and who love to spend an owner’s money) would say branding.

After all, without a brand, how do you drive customers to your business?

But think of it another way …

Without leads … how do you build a brand?

In the world of ActionCOACH, marketing isn’t creative or high concept layouts.

Marketing the ActionCOACH way is simply math.

If an ad generates cost effective leads for your business, it’s a good ad.

If it doesn’t, it’s not.

This is a hard lesson for a lot of marketing people and agency types to deal with in working with our company (or even in our company!) … and our clients.

Because as a marketing-driven CEO, I only care about tactics and strategies that drive leads into a company … at a profit.

That’s the only way to turn your marketing “expenses” into “investments”.

After all, could you afford to continually buy a share of stock for $10 and sell it for $5?

So … why would you continue to buy an ad or run a marketing campaign that doesn’t make you money?

Branding or leads …

Which is more important for you?

Jodie Shaw

Friday morning quiz: Branding or leads?

Here’s one we throw at our marketing TEAM and “creatives” every once in a while …

What is more important to a business … building a brand?

 Or getting more leads?

I’ll give you my take on this in a later post …

In the meantime, I’d be interested in your thoughts …

Jodie Shaw

Details of the small business “jobs” bill …

Here’s an interesting look at more “stimulus” moving through the U.S. Congress …

“What’s in the Senate Small-Business Jobs Bill for You …”

This is a pretty critical time for small business on a lot of levels … so it’s more important than ever to be aware of how the “rules of the game” can and will be changing for you moving forward.

While you can’t control what the policy makers do, you can control what you do in your own business.

That means:

• Having a marketing system that actually generates cost-effective leads and brings customers to your door
• Knowing your numbers inside and out, from your breakeven points to profit margins on all of your products and services … and even seemingly “small” transaction fees, that over time can whittle away at your cashflow and profits (see my previous post on this here … “Swipe Fees”)
• Finding ways to cut costs and expenses, but more importantly learning new and effective ways to growing your top line revenues and bottom-line profits (because the only way to survive is to grow … and you can’t “cut” your way to success)
• Hiring a Business Coach to help guide you through these processes … and to keep you and hold you accountable to getting your goals and objectives

So … take a look at what the policy makers may or may not have in store for you …

More importantly, make sure you get the skills, learning and knowledge you need to successfully run your business … then it won’t matter so much what other people do.

That way, you’ll have more control over your own future … because you’ll be relying less on others, and more on the things YOU can do.

Jodie Shaw

“Will the health care tax credit help small businesses?”

That seems to be the question a lot of small business owners and business journalists are asking …

How much will reform really cost?

And here’s another article on the same subject …

Baltimore Business Journal …

Months have gone by since this bill was passed and signed, but there is still a lot of confusion over costs and the overall impact on small business.

Maybe these articles can help you answer some of these questions … and I’m sure there will be more information moving forward on this critical issue to business profitability.

Meanwhile, the unemployment rate is still above 9% … and it’s hard for business owners to give health insurance coverage to people who aren’t employed.

But that’s a subject for a future post (or two)!

Jodie Shaw

More reform? Or more small business credit woes?

While this just posted …

“Financial Overhaul Passes Key Senate Hurdle …”

I found this going through some old emails over the past week:

Small business credit woes …

As if there isn’t enough “crunch” in the small business credit markets already.

I’d be interested to hear your thoughts about “reform” measures … and how you think they would affect your operations over the next year (and years to come).

I have an idea what your answers will be … and I’ll address some of my own thoughts about this topic in future posts.

Jodie Shaw

Why “knowing your numbers” means ALL of your numbers …

Here’s a great example of how even “small” costs can add up over time, and in time, really start to “choke” profits:

Read about the impact of “swipe fees” …

As mentioned, one small business owner discovered just how the “swipe fees” on credit and debit card transactions added up … and not very well, especially for small companies.

This is a great example of knowing your numbers … and taking that knowledge a step further so that you have a good handle on ALL of your numbers (especially on the cost side).

That’s really the only way you can make better decisions on your own costs … and how to make it easier for your customers to do business with you.

Jodie Shaw

Here’s a stimulating number … 36,000 new jobs

How valuable is franchising to the overall economy?

Here’s an interesting article on some new stats from the IFA (the International Franchise Association) about the stimulating effects of franchise operations on job creation …

Franchising and job growth …

These numbers are also interesting in context.

From the period 2001-2005, the annual rate of franchise economic output grew at an average of 9.7% a year.

Even in the current 2009-2010 period, that output has continued to grow at a rate of 2.8% … an uptick from a decline of 0.7% in 2008-2009 (a decline less severe than the 2.4% fall in GDP over that same period).

What’s the explanation for the strength of franchising in the face of economic challenges?

Proven systems and methodologies.

Unlike a business owner who has never experienced a downturn, a franchise system is built to meet a variety of challenges, including economic slowdowns.

The system, in the case of a franchise, is the solution.

It is heartening to see some economic bright spots in our industry leading the overall economy out of our current stagnation.

And for those interested in becoming a franchisee at some point, the article also outlines some good things to consider before making the leap into a new business venture.

But overall, the numbers continue to favor franchising as both an engine of the economy and a driver of job creation.

It’s also a great way to jump into the business world as an entrepreneur, especially if you don’t really know “how to” run a business.

Because a good franchise system is exactly that … a system.

And a good proven system will always be more successful than an independent owner using “trial and error” as a business plan or personal path to success.

Jodie Shaw

A shocking stat, an invaluable skill …

Here’s an example of a stat our company would love to see reversed over the next generation of business owners:

“Fewer business owners said they plan to put off taking a vacation, according to a new survey. In the Discover Small Business Watch study, 51% said they would delay vacation plans, down from 58% a year ago. In addition, the number of small-business owners who say they work six days a week has fallen to 56% from 61% last year.”

There’s more here …

Entrepreneur.com/Daily Dose blog

… but it goes without saying more business owners are finding that the dream of business ownership sometimes doesn’t match the reality.

People go into business for any number of reasons, but most of the owners we work with at ActionCOACH cite more personal freedom and a better lifestyle as their two main reasons for striking out on their own.

Obviously, if you are part of the more than half of surveyed business owners saying you need to postpone your vacation, the “more personal freedom” side of the equation needs some work.

My solution for you, of course, is to get a Business Coach.

One of our “tests” for owners is to ask them “point blank” what would happen if they just up and left their company for the next three weeks.

Would the company survive?

From these numbers, the answer most owners have to that question is obvious.

Most owners simply don’t have the trust in their own abilities as business people, or have not been able to systemize or leverage their knowledge in any meaningful or significant way to leave their shop “unattended” for weeks (or even days) at a time.

The best way to get more time in your business?

Systemize and train your team so you can delegate tasks, or outsource those activities that you’re spending too much time on and could be handled more effectively by a professional (bookkeeping being one of them).

More importantly than that?

Learn once and for all “how to” run a better business.

How?

Find a mentor. Read a book. Get an ActionCOACH.

Look at it this way:  Once you really learn how to run a business, you can apply that knowledge over and over again, no matter what business you are in.

How powerful is that?

In fact, if one day a magical genie appeared and promised to show you how to consistently generate profit in any business … would you take up the offer?

How valuable would that skill be now, tomorrow and in the future … and how could that knowledge benefit your family and employees?

Well, that’s exactly what we teach at ActionCOACH.

I certainly don’t suffer from a lack of certainty or confidence, and a big part of that is from knowing that I could go anywhere in the world and in time, make any company profitable – or steer the owner of a losing business into a different, but more profitable one.

It’s not a boast … just a fact – based on the “test and measure” of our system over the last two decades.

So if you are in the majority of business owners who don’t want to take a vacation … learn how to get more time for yourself away from your business.

While you’re at it, learn how to get more money in your business as well.

It’s a skill that will reward you for years to come.

So … go get that skill (and some other valuable business building skills) here …

Your FREE business coaching session …

… with a free coaching session with an ActionCOACH Business Coach in your area.

It’s free. It’s easy. There’s no cost or obligation.

And it just may be the best hour you’ve spent on your business in a very long time.

One more thing I can guarantee!

Jodie Shaw