Mondays with Mike: The Profit Crisis… And How You Can Solve It

By February 20, 2017 No Comments

Think there’s not a profit crisis?  The Small Business Administration conducted a recent study and found that of the 28 million small businesses in the US, about 83% are not profitable.  That’s a shocking statistic.  The vast majority of small businesses lose money.  That means these small businesses are likely to close, ending job opportunities and reducing incomes for millions of families.

How do so many small businesses fail to turn a profit?  It turns out that it’s because of the way we think about profit – our profit mindset.  We talk about “year-end profit” or “the bottom line.”  We consider profit to be whatever is left over after we pay all our bills. 

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Work Your Biz Wednesday: How to Determine Which Tasks to Outsource in Your Small Business

By February 15, 2017 No Comments

As a business owner the #1 things you must do in your business are your high-valued activities like sales and serving customers. Outsourcing is a great way to keep you focused on running the business, and with the rise of the freelance or gig economy there are more options than ever to get things done. So think carefully about what tasks you don't have time for, or don't feel qualified to do in your small business and get them handled by someone else.

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How to Give Generation Z the Customer Service They Expect | Nextiva Blog

How to Give Generation Z the Customer Service They Expect

By February 14, 2017 No Comments

Sometimes defined as Generation Z, other times as young Millennials, consumers aged 18 to 24 have strong opinions—including a whole new set of expectations about customer service. A new study reveals some trends you need to know about to effectively serve these customers.

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Mondays with Mike: Don’t Let the Haters Get You Down! Practical Strategies for Handling Criticism

By February 13, 2017 No Comments

There’s not a one of us who enjoys hearing criticism or complaints about our businesses.  Criticism is inevitable, and it’s actually a useful tool if you learn how to handle it effectively.  Healthy companies grow and evolve, and customer complaints can actually help you focus your efforts to improve in a way that’s seriously productive. 

Have complaints?  A crummy online review?  An irate customer?  Try these strategies:

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Small Business Dress Code

6 Things to Consider When Formulating Your Small Business Dress Code

By February 10, 2017 No Comments

Aside from wearing the occasional Chicago Blackhawks jersey (especially on a long flight), I make a point of maintaining a professional appearance in public. That used to mean dark suits and long sleeves. Happily, corporate dress codes have changed in recent years.

Small business employees often expect a more relaxed policy that does not automatically fit when their companies are competing with larger companies. Establishing a dress code creates a quandary; formal attire may present a more professional appearance to customers, but employees may balk at spending money on expensive clothing or not being able to express themselves. To help you tread the line between fussy corporate and circus attire, here are six things to consider when formulating your dress code.

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6 Red Flags to Look For in Any Contract

By February 9, 2017 No Comments

Learn to Look for these Red Flags in Business Contracts

Too many small business owners gloss over important terms in contracts they sign. This can cause a problem later in the relationship if they are not properly negotiated. While a lawyer may not need to be involved in every transaction, here are the areas that all companies should look for to protect themselves before signing any agreement:

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Mondays with Mike: 7 Strengths of Likable Leaders

By February 6, 2017 No Comments

Sure, the best leaders sometimes have to make decisions that are unpopular, but we all crave respect and support from the staff that make our companies work.  Being a likable leader isn’t about currying favor or tiptoeing around the people you employ.  In fact, being likeable means being the best leader you can be.  Employing these strategies will not only help you gain big-picture abilities that will benefit your business, but you will also gain the loyalty of your employees.

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