New Idea - What Next?

When you have a new idea that has developed into a product or service that you think will change the world, step back analyze your market first. Innovation is wonderful but will it provide the ROI that you need and expect? Ask these questions before jumping in with both feet. A little advance consideration can save a lot of problems later. Here are a few things to think about first.

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

Barry is a marketing speaker and consultant. www.idealetter.com

Unusual November Holidays

These are real but little known holidays that you can use in your business for fun and profit.

 1 National Author's day
 3 National Cliche Day
 6 Saxophone Day
 7 Hug a Bear Day
 12 Chicken Soup for Soul Day
 13 Natl World Kindness Day
 15 America Recycles Day
 16 Sadie Hawkins Day (ladies ask men)
 17 Take a Hike Day
 17 Homemade Bread Day
 18 Mickey Mouse Day
 19 Having a Bad Day Day
 20 Name Your Computer Day
 21 Worls Hello Day
 23 National Cashew Day
 29 Square Dance Day
 30 Stay at Home Well Day

Competitors Never Quit

Being a strong core company will be your best defense against money-hungry competitors out there. They will always strike where the resistance is weakest and you should do the same. An offensive move by a competitor should bring out the best in you and your business strategy. Keep looking for ways to improve your basic business and never accept status quo for very long. Customers and clients are always looking for the best value for the money they are spending.

Things can change quickly in any market and if you're not a part of it you can be left behind. Your basic business needs to keep up with the changing times and technology to stay profitable. So, if you're in the mousetrap business, don't go off trying to sell luxury doghouses and assume no one will build a better mousetrap. By the time you find out that it has happened, you'll have to play catch-up. Trying to  catch-up is more difficult and less profitable than being the leader or at least in the top three. Stay on top of your industry and watch your competitors at all times, your customers are.

Barry is a professional business speaker who will travel the world and speak to your group on The Customer Experience. www.idealetter.com

Customers Who Pay Slow

Losing an account can sometimes be a result of your own doing. If you find that the time it takes to get paid is too long and getting even longer all the time, you may need to reconsider that company's business. Is the cost of collection efforts worth the profit you are making? Obviously, you will make all the efforts you can to resolve the situation but sometimes you just can't seem to do it. It is hard to break someone else's habit once they have been doing it for a while.

If the longer payment time leaves you in a no or little profit situation or a break even position, it's really not worth it. You have your own bills and employees to pay and the money you have earned needs to be there on time. Cutting off or firing a regular customer or client will almost bring tears to your eyes but sometimes it has to be done. You can't put your entire business in jeopardy because of one or two deliquent customers, regardless of how big the account is. Your first responsibilty is to your company and your employees so take action. If the customer wants to change and pay on time you can decide if it's worth the effort. You can put them on payment in advance or 50% deposit for future orders.

Barry is a marketing and customer experience speaker & trainer. www.idealetter.com

Is Your Business Awesome?

We hear a lot of  young people using the word "awesome" lately so why not use it to create a better customer service experience in your business. The dictionary says that awesome means; inspiring, outstanding and overwhelming and those are the terms you want clients and customers to use when referring to your business. Keeping that image is not always easy but if you work on it every day and get your staff to believe in it, the results may surprise you. Your sales and profits will continually grow and customers can't wait to tell friends about your business and why they should go there and keep going there.

Many companies have been around many years and have not always kept up with technology but they did keep their service at a high level. People would begin to think that there is no other place to spend their hard-earned money and they would catch up on technology later. And others, who just pushed their low prices and poor service are now only names in the history books. Low prices mean low margins and there must be a lot of sales to provide the capital needed to pay expenses and employees. But the cost of outstanding service is not measured by money but by dedication, hiring, training and employee appreciation. It seems that  being "awesome" over a long period of time provides better results than low prices.

Barry is a Customer Experience and marketing speaker and trainer.  www.idealetter.com