Browsing Articles Written by

Barry Moltz

Barry Moltz helps small businesses get unstuck. He applies simple, strategic steps to facilitate change. Barry has founded and run small businesses with a great deal of success and failure for more than 20 years. He is a small business speaker, radio host and author of four books. As a member of the Entrepreneurship Hall of Fame, he has spoken to audiences of up to 20,000 people. He is a regular guest on business radio and cable TV programming.

Should You Use a Low Introductory Price to Grow Sales?

Should You Use a Low Introductory Price to Grow Sales?

By May 5, 2017 No Comments

A very common marketing tactic is to charge less to new customers in order to attract them to start using the company's service or products. For example, storage facilities rely on this to get customer’s business when they offer to rent space for the first month for $1. This works in this industry because it is a lot easier to move things into storage then to actually move accumulated items out! But introductory offers are not always effective in increasing revenue and sometimes they can actually hurt the sales of the company.

Decide on whether to use this strategy by asking these three questions:

Share:
How to Spot Bad Leads That Hold Back Sales

How to Spot Bad Leads That Hold Back Sales

By April 20, 2017 No Comments

Sales people waste a lot of time on bad leads that will never buy from their company. They are sometimes referred to as tire kickers or “Lookie Lou’s” since they are glad to talk about buying, but in reality, they never end up purchase anything. Unfortunately, sales team spend an inordinate amount of time not qualifying these bad leads since they get caught up with the quantity of their prospects, not their quality. This results in missing sales goals.  To maximize their sale goals, teams need to only call on prospects that have a high likelihood of buying

Here are surefire ways to spot them before they waste too much valuable selling time:

Share:

The Surprising New Business Metric for Success

By March 30, 2017 No Comments

The goal of every small businesses is to generate a return on investment (ROI). This means that if a dollar is put into the company, the owners hope to get $3 or even $100 from it.

While this is still a required long term measurement, a new undervalued metric that will help businesses grow daily is to establish a “Return on Kindness” (ROK). While there continues to be much divisiveness and conflict in the world, every company can serve as a refuge for their employees who need to work toward a common goal. Achieving this will always lead to long-term loyalty and increased positive motivation.

Share:

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:

Share:

The Biggest Mistakes in Your Business Communications

By November 3, 2016 No Comments

How companies communicate with their customers is the key factor in determining if they will have a positive buying experience and when they will come back to purchase again.

The single biggest competitive weapon that small businesses have over large competitors in this area is the use of technology. Big companies are slow to switch since they have invested millions of dollars in their systems. Alternately, small business owners can invest a fraction of the cost with cloud solutions to create a solid and growing infrastructure. It is actually easier now than it was years ago to provide an excellent customer experience with a small technology investment.

Share:

The Secret Benefits of Cloud Tools for Your Business

By October 25, 2016 No Comments

In my last company, I ran a mail-order technical software company which needed a processing system to accommodate our growth. At the time, the upfront investment was $100,000 in hardware, a dedicated IT person, and a six-month migration process. Unfortunately, after spending this time and money, there was no guarantee that it would work for the company.

Share:

Why Hiring Only Superstars Can Hurt Your Business

By August 4, 2016 No Comments

Building a team with great people has always been the key to a successful business. To achieve this, some companies recruit superstars from their competitors or similar industries where their skills are transferable.

Unfortunately, like in sports, there are many examples where these business superstars who are successful at one company are not at their new one. For example, Ron Johnson, Apple’s Vice President of Retail, who revolutionized the industry with Apple stores, lasted less than two years when he was drafted by JCPenny’s to turn around their retail efforts. Marissa Mayer, Vice President at Google was not able to successfully guide Yahoo! as its President and CEO.

Share: