Why do clients repeatedly visit your store instead of others? I have asked these questions to numerous small business owners in my industry and among the top answers are:

1. “It’s our great customer service.”
2. “It’s our pricing.”
3. “They believe in us.”

Of course these are great answers—but sometimes I think these come from us store owners and not directly from our customers. I have never asked my clients why they keep coming back to Guliani’s Fine Jewelry. Have you asked your clients why they keep coming back to you?

Have you ever contacted your top ten clients? ...Read More

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You’ve reached retirement age and are ready to sell your business within the next year or two. Here are five basic steps you should ask yourself to ensure that your business is ready:

1. What is your business worth? One of the first things you should do is obtain a realistic idea of what your business is worth from an objective, outside source. A professional valuation will give you a basis for gauging buyer offers and will give you an idea of what you can expect to net from the sale.
2. Are your books in order? Buyers evaluating your business generally require at least three years’ worth of financial information.
3. Have you consulted your financial advisor? It’s wise to speak to your tax advisor for help planning

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The simple answer is YES. The Fed has begun to aggressively cut interest rates and it was the perfect time for me to play one bank against another. I contacted a competing bank that just opened up a branch in my area. I know this bank would be hungrier for my business than the bank I am doing business with now. I received a quote from this new bank on a loan exactly like my existing one—same in size of terms, size, duration, etc. I took this quote to my current bank and they were not willing to lose me (a long-standing customer of course). Once I presented them with the lower rate they were more willing to make a deal and keep my money there. If you’re in need of a business loan with an enticing interest rate be sure to shop around—don’t get to comfortable where you’re at because their might be a bank/lender that’s just as well known willing to make you an irresistible offer to help manage your small business.

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We all know image isn’t everything but it’s pretty darned close. I have to admit I’m not the nicest dressed person in my store—yeah I wear nice slacks and blouses but I’m definitely not likely to come in wearing a professional suit or dress. I do have a few pants sets with jackets but I think I’ve honestly worn the jacket once.

For employees, I have clearly outlined the dress code in our policy manual. I have stated women’s apparel should not be too revealing or tight fighting. For example, a dress should not reveal more than one quarter of the thigh. Blouses not to be transparent or too low. For men, again no apparel that is too tight fitting. Men’s shirts to have collars unless accompanied by a sports coat—buttoned and not worn open or too l...Read More

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Ordinary mailing is unlike direct mail in that it is the purchasing of an outside list of names and addresses. Mailing regularly to your existing database of customers and prospective customers is a great way to generate repeat business, uncover new leads, and let prospects know you’re out there. All you need is your customer database or a prospect database, postage, and the time to do the work to get the mail out the door.

Direct mail is a recognized industry that buys, sells, trades, and maintains mailing lists. You can purchase lists as small as 5,000 names or more. My local mailing house charges approximately $450 for 5,000 names. I’ve heard $100 per 1,000 names is the average cost of a mailing list—given the particular zip codes, median income, average ...Read More

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Essentially I learned how to run my business from my folks—so I thought hiring someone was all about my gut feeling. Today, I’ve learned my gut has something to do with it but it’s also a purchasing decision. Too often I’ve treated an interview like a conversation which gives it no structure in which to gather information that will be useful in not only assessing the individual against the position, but also against other candidates. Overtime I’ve learned how to prepare for an interview which has resulted in better choices for my business:

1.      The Introduction. An interviewee will give you their best answers when they know what to expect. Define both the process and the position.

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Come on! We all know everybody in the world wants to be on Oprah. She is seen as one of the most influential women in the world because of her TV show. Being on the show could mean instant credibility for yourself or your company.

I came across a great little article from Marketing Sherpa with tips on “How to Get on ‘The Oprah Winfrey Show’.”

Most of these tips should be followed to get booked with any media outlet.

1.      Know what they want

2.      Watch the show regularly

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Consider getting a toll-free number for your small business. These numbers can be a powerful sales and marketing tools:

1. Customers are much more likely to call a business with a toll-free number than a business with a long-distance number—especially a business whom offers an e-commerce site (yes, if it is free, they will use it!).
2. Toll-free numbers boost consumer confidence. Consumers assume that businesses with toll-free numbers are larger and more stable than their competitors, therefore increasing business credibility.
3. A toll-free number shows better customer support and more respect for customer needs.
4. A toll-free number allows you to move your business wherever you want without needing to change your number each time.

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Employees expect to be recognized for their work and accomplishments. So, if you’re happy with your employees—let them know and really show it. For recognition to strengthen your team’s performance consider the following:

1. Don’t wait. For maximum positive reinforcement, offer praise as soon the desired action is displayed.
2. Be genuine. Words can fall flat if you are not sincere in why you are praising them. Praise because you are truly appreciative and excited about their success. Their success means success for the company.
3. Face-to-face. Always praise face-to-face. This shows the action was important enough for you to put aside every

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Are you trying to keep you payroll expenses down, but in need of high-quality employees? Consider these strategies:

1. If you have a college nearby, place an ad offering an internship to graduate students and upper-level undergrads.
2. Keep an eye out for stay-at-home moms. There are many smart women who’ve left their corporate executive positions to start a family or be closer to their children. When the kids grow-up, these empty nesters are on the prowl for something to do and can make excellent part and full-time employees.
3. Investigate employee leasing and temporary help services.
4. Get referrals from employees. Don’t be afraid to hire relatives of good workers. At out FL store

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