Is Fast Growth Good or Bad ?

When your business grows more quickly than you expect, it always uses more cash or cash flow to sustain the quality of products or services. An inflow of real cash will be necessary to keep everything positive and profitable. Consider these facts and mistakes:
.Refusal to borrow money
.Not checking all available financial sources
.Not forecasting cash flow requirements
.Not talking to outside investors
.Not talking to inside investors
.Not realizing all borrowing risks
.Borrowing too little for your needs
.Not extablishing lender relationships
.Poorly preparing financial statements
.Not having a business plan for growth
More ideas in my books at amazon.com and Kindle

Fun Holidays for July

These are some unusual but real holidays that you can use in your business for sales and promotions.
July 1 International Joke Day
July 6 Cherry Popover Day
July 7 Chocolate day
July 11 Swimming Pool Day
July 13 National Skeptics Day
July 15 Hugging Day
July 18 Cow Day
July 21 Monkey Day
July 23 Hypnosis Health Day
July 24 National Cousins Day
July 28 Nat'l Soap Box Derby Day
July 29 Rocket Day

Great Customer Service Rules

If you want customers to have the best service experience, bring repeat business and send referrals use these guidelines now:
.Listen to your customers
.Act on what they tell you
.Handle complaints quickly & Fairly
.Always keep your promises
.Don't make promises you can't keep
.Answer phone calls with humans
.Keep training & mentoring your staff
.Smile when talking to customers
.Give more than is expected
.Hire superstar employees
.Always be available when customers need you
.Read these rules again every month
More great ideas in my books and on idealetter.com

Learn From the Master

Most of us will never achieve the financial success and notoriety that Donald Trump has, but every small business owner can learn some valuable lessons from Mr. Trump. Whether you like him or not, you have to admire his talent for self-promotion. He may specialize in building skyscrapers and amassing real estate, but his methods would probably work for any business. He has the knack for speaking candidly while still promoting his brand. And his brand, of course, is Trump, which is well known all over the world for quality and creativity.

We don’t see much of his personal life behind closed doors, but when he’s in public, Trump is always “on.” No matter what subject he’s questioned about, he always gets that plug in about his TV show or one of his casinos or golf courses. I think it just comes naturally to him, and it has paid off handsomely along the way. Everyone who has a new idea wants to partner with him and capitalize on the Trump name.

I recently saw him on a talk show, and he promoted everything he’s currently into, including Trump University. But Trump didn’t make it sound like a series of commercials; he appeared to just be making conversation. But he managed to spread the word about new ventures that many of us hadn’t previously heard about.

Donald Trump didn’t become a huge success overnight. It took years of hard work and promotion to get him where he is today. That is what a small business person needs to realize: what you do today and tomorrow will pay off in the future. You can’t get to the Emerald City unless you start now at the beginning of the yellow brick road, then keep walking. The rewards won’t automatically come to you; you must go to them. A little progress every day will get you there. And once you build your own brand and market awareness, it will help you be successful in good times and bad. Just ask Donald Trump.

Speak for Publicity

Being known as an expert in your industry will always give potential clients and customers more confidence when spending money with you. Develop a 20 to 30 minute speech loaded with information, stories, case studies and even a little humor. There are many organizations that need speakers for regular meetings and although most won't pay a fee you will get a free meal and welcome publicity. Speakers call it the "Rubber Chicken Circuit" and it's a great place to network and meet new people. Some places that you can call or email to offer your topics are: Rotary Clubs, Senior Education, Chambers of Commerce, BBB, military bases, libraries plus local schools and colleges. Many of these speaking engagements will lead to new business or paid speaking events. There's no better time to start than now!

Stand Out From Competitors

Here are some ideas from my book "The Jelly Bean Principle" (Softcover & Kindle) to make your small business the best it can be and attract new customers and clients.
.Offer First Class products or services for those who want the very best
.Constantly look for ways to build customer loyalty
.Know what your competitors are doing
.Expand your target market whenever possible
.Put a little "Green" in your business
.Ask for new ideas from everyone
.Be available when customers need you
.Meet with your staff regularily
.Create word-of-mouth publicity with OUTSTANDING service
.Hire superstars who beleive in your goals
.Sell Made in America whenever possible
.Don't be too busy to talk to your customers
.Change your website often and add new ideas
.Vist your industry trade show at least once a year
Many more ideas in the book but the main thing is to do something and not just stay the same. Status Quo is OUT and change is IN.

Homebased Business success

Follow these ideas to start and grow your business at home to be successful and profitable.
.Create a seperate work area or room and keep it all "work"
.Be available during established business hours that you determine
.Ask family members not to "invade" your work area
.Establish a schedule and stick to it
.Find and use an off-site meeting place such as a hotel, restaurant, library, etc.
.Outsource anything you can
.Be dedicated to your goals

Scratch-Off Cards Marketing

You can make doing business with you fun and a chance to win something valuable by using a scratch-off promotion. The prizes don't have to be substantial, just something a player would want or a good discount. Coupon redemption has dropped off some but when someone wins something they usually want to collect or use it. Scratch areas can also be included on post cards for mailing. Game cards can be custom printed in quantities of 1000 or more and distributed in person, attached to a product or by direct mail. They can give your business a fresh new and fun approach to marketing and pay off in profits. More info on scratch-off products at americas-cards.com

Loyal Employees

Replacing employees and hiring plus training new people is a wasteful expense. Keeping your best employees will not only save you money but give your clients and customers the knowledgeable service that they deserve. Let your staff know the results of the tasks you ask them to do and how it benefits the company. Let them train for new jobs within the business which can offer them new challenges. Always take their suggestions seriously and reward the ideas that you use. Listen and act on the feedback they offer and you will keep them much longer. More ideas for retaining satisfied employees in my books.

Effective Meetings

About 50%of the people required to attend meetings hate them. And that also goes for the person running the meeting. But if done correctly they can be very productive. Use these ideas to have the best meetings possible:
.Have an agenda
.Start on time
.Keep on track
.Have attendees participate
.Ask for questions
.Finish on time

More business ideas at idealetter.com

Ask Your Customers

Remember that it's not what you want to offer but what your customers want to buy that really counts. And the only way to find out what that is.. ask them. Try a link on your website to a suggestion box, mail a form in the mail, hand them a comment card or just ask them personally. If you see a pattern when you read the responses it will tell you what they are most concerned about and what you need to work on. You may even be surprised when a great idea is submitted that you didn't think of before. So open your suggestion box and your mind and let customers tell you how to serve them better. It's one of the Cheap Marketing Ideas that always pays off.

New Product Idea

When you have a new idea that has developed into a product that you think will change the world, ask these questions before you jump in with both feet and make a big investment.

.Is it an original idea?
.Is there a broad need for it?
.Will buyers understand it?
.Who will buy this product?
.Is the price affordable?
.Can you afford the marketing cost?
.What if demand gets big?
.Will you offer a guarantee?
.Who will manufacture it?
.What are your profit goals?
.What if it doesn't sell?

When you know the answers to these questions you may be ready to patent & test your new product. Be sure to have a couple contingency plans ready for the unexpected situations that may occur. Once you have made the commitment put 100% of your effort behind it. Good Luck !

Direct Mail Still Works

Correctly targeted mail advertising can still produce profitable results for your business. Using an attention grabing headline and colorful graphics will get prospects to read mail advertising rather than discard it. But you also need to make an attractive offer that requires action right away to make it work completely. Write, read, edit and rewrite your copy until it's the best it can be. Encourage prospects to visit your store, call your toll free number or go to your website where they can make a purchase or get more information. Use direct mail often and monitor your results to fine tune future mailings. Direct mail should be in your marketing mix to achieve maximum profits.

Book Seminar Back-up Date

Seminar Saturday June 19 9:30-11AM (Thurs sold-out)
It's been said that everyone has at least one book inside them waiting to be written, what's yours about? I will present a seminar on Saturday June 19,2010 called WRITE-PUBLISH-PROMOTE at my office from 9:30 to 11AM (Colorado Cards, 5585 Erindale Dr #203, Colo Spgs, CO). I have 4 published business books and 2 more on the way. You'll learn how to come up with a catchy title, layout chapter outlines, plan for the correct number of pages, write the first draft, edit, search for a publisher and accept rejection. Find out the difference between a mainstream publisher, print on demand, self-publishing, e-books and how to get an agent. Then promoting your book after it's published using many different ways is just as important. Attendance is limited to the first 12 adults at $20.00 per person. Nothing else will sold at the seminar. Next seminar is Thurs July 15 6:30-8PM. The space is limited so call 719-268-1322 or email: idealetter@aol.com to reserve a seat.

Where to get start-up Money

Here are three types of investors you may want to pitch for start-up money.


1. Mom and Dad – Because they've known you since you were trying out for Little League or the high school musical, Mom and Dad are typically an easier sell than a professional investor whose goal is to make 10 times his money in five years. Friends and relatives tend to know less about business, ask fewer tough questions and be more concerned about helping you succeed than achieving above-market returns. On the other hand, if your business goes bust, you might be off the holiday gift list for good.


2. Your Old Boss – Next to Mom and Dad, nobody knows you longer or believes in you more than your former boss and mentor. He or she took a chance and hired you right out of school, nurtured that potential that not everybody else saw, and now feels justifiably proud that you're spreading your wings to fly to the next level. Just remember that, when you take your boss's money, you may be taking on a not-so-silent partner. And, if your career as an entrepreneur doesn't take off, don't assume that you'll get your old job back.


3. Your Supplier – Nobody's got more of a vested interest in your success than the company that makes or distributes the product you're selling. After all, the more sales you make, the more orders you place with your supplier's factory. That's why startup entrepreneurs with a blockbuster product or invention often partner with their manufacturer to get their product off the ground. But that marriage of convenience often comes with strings attached and, if you ever decide to part ways, be prepared for a messy and expensive "divorce" and a potential competitor.

The reality is that even raising money from people you know can be a long, painful and ego-draining process. That's why I advise clients to prepare themselves to knock on hundreds of doors before even one of them opens. One of our clients decided to make a game of it, challenging herself to collect as many "no's" as possible. Within several months, she had overcome her fear of rejection and raised $650,000, having never raised $1 before in her life. You'll never know until you start knocking.

Credit to Wall Street Journal Small Business

Co-op Marketing

If you give a lot of business to a select few of your suppliers, why shouldn't they help you make more sales. Ask suppliers to share the cost of mailings and promotions to help you get more business. You can offer them a signed agreement that says you will guarantee that 90% of that new business will use their product or service. This assures them that their effort and expense will pay off. It also creates a bond that will come in handy if future problems arise. Working together will always produce more positive results than working alone. It's another win-win situation!