This week we’re discussing how to reinvent your business by using the word Renew as an acronym. The N stands for Needs Assessment. A friend of mine was in a rapidly declining industry. He decided to reinvent his business, but he didn’t do a needs assessment to determine all the related costs and risks to make the change. The costs ...
Since December is the biggest giving month of the year, let’s discuss being a Giver this week, using that word as an acronym. The letter V stands for Virtuous. As Christians, we need to be virtuous with our choices of charitable giving. An acquaintance of mine once felt called to give away millions of dollars. Although he funded a lot ...
The Sixth Key to Financial Success – Leverage At 25 years of age I started a car rental agency! In order to fund this new business I borrowed money personally, and also, from a bank. My new business was highly leveraged with an excessive amount of debt. Before long I discovered that every time the bank demanded something from me, ...
The Second Key to Financial Success – Gross Profit Margin Years ago, Randy’s home remodeling business was struggling. Randy hired me to help. In construction, bidding jobs profitably is critical. You need to properly estimate your direct job costs, and add enough profit to sustain your business. The amount of profit you add to a job, compared to your total ...
The First Key to Financial Success – Revenue Growth In my book “Unconventional Business” I discuss Seven Keys to Financial Success. The first key is Revenue Growth. Knowing the pace your revenue grows from year to year is critical in assessing how well your customers appreciate your products. Unfortunately, some pursue more sales in a greedy and unethical manner. A ...
Most Saturdays you can find our son, Jeremy, and I at a local thrift store. One of his quirks, related to his autism, is his insistence in buying a VHS video each week from a specific thrift store. Like most thrift stores this store is filled with used, donated goods. As Halloween approached, however, I noticed racks of new Halloween ...
In my book, “Unconventional Business,” I highlighted seven questions from marketing guru, Seth Godin, that may help you shape your marketing plan. The final question is, “How do your customers buy your product or service?” For decades, Walmart dominated the retail market as a department store chain. Now Walmart is playing catch-up to Amazon as more and more customers are ...
In my book, “Unconventional Business,” I highlighted seven questions from marketing guru, Seth Godin, that may help you shape your marketing plan. The sixth question is, “Why should your customers buy your product or service?” Author, Simon Sinek, expanded our thinking with a Ted talk around the concept of “Starting with Why.” According to Simon, great marketing companies promote a ...
In my book, “Unconventional Business,” I highlighted seven questions from marketing guru, Seth Godin, that may help you shape your marketing plan. The fifth question is, “Where are the best places to reach your customer?” Recently, Kathy and I toured a large new grocery store with a friend who sells consumer products. She taught us that she not only considers ...
In my book, “Unconventional Business,” I highlighted seven questions from marketing guru, Seth Godin, that may help you shape your marketing plan. The fourth question is, “When are your customers most likely to buy?” A company I’ve worked with knows that Mother’s Day is their biggest season. If they haven’t staffed up and developed new products far enough in advance, ...
Equipping Others to Do Work Differently
