2008
Nov 22

Basic Business Technology

 
I’ve been working with business owners for over 15 years now and during that time, I’ve met many business owner types.  I’ve come across the big egos, the endless analyzers, the frugal and I’ve even met a few dictators along the way.  After meeting and working with so many personalities and leadership styles, there is no business owner type that frustrates me more than the “I am not a techie” owner.
 
The reason for my frustration is because I have a unique vantage point of seeing for myself how street-smart and courageous most small business owners are.  Because of this observation, it makes me wonder why these business owners won’t take on the challenge of learning some basic technology skills to advance and grow their businesses.
 
The bottom line is that your small business will FAIL if you do not embrace modern business technology.  It doesn’t matter if your business has been around for 20 years and you’ve never relied on anything but “word of mouth”.  The entire landscape of doing business is changing rapidly and it will move on without your business if you do not learn how to utilize technology to your advantage.
 
 
Are you a “I am not a techie” business owner?  Here are some signs.
 
1)  You’ve repeated the phrase “I am not really a technical person” more than 5 times this year.
 
2)  You blame your age constantly for not being on top of business technology.
 
3)  You are constantly seeking help from anyone inside and outside the firm for basic technical assistance.
 
4)  Your children are your technical support.
 
 
I know what you’re thinking.  This post is a bit harsh.  The straight talk is needed.  Keep in mind that I’ve dedicated a big portion of my adult life in the pursuit of advancing small businesses.  Believe it or not, I am trying to help by kicking you in the you-know-what.  Many of you will also believe that this blog is geared towards older business owners.  On the contrary, I’ve found that age has very little to do with this problem.  In fact, according to the latest AARP surveys, one of the fastest growing technology usage groups are people over the age of 55.
 
 
So, how can you fix this problem?  Here are some suggestions.
 
1)  Change your state of mind about technology.  Without this paradigm shift of thinking, you won’t be able to move forward.  Are you the “throw my hands up” type?  If you own a business, I know you’re not.
 
2)  Take the time and put forth the effort to learn basic computer usage skills.  Do you know how to save files, create folders, save photos, cut and paste, install software and etc?
 
3)  Take the time and put forth the effort to learn basic e-mail usage skills.  Do you know how to attach files, create folders, auto-respond, add a signature and etc?
 
4)  Take the time and put forth the effort to learn basic Internet usage skills.  Do you know how to search, add to favorites, organize favorites, download files, shop/buy online and etc?
 
5)  Invest in some resources to train yourself and the staff if need be.  You might even want to consider an in-house one day training for your entire staff.  A full day dedicated to learning and training on how available basic technology can help your business, would that be a good investment?
 
 
If you follow some of my suggestions, you will feel incredibly empowered and a sense of rejuvenation will fill your business.  Take full advantage of ALL that technology has to offer small businesses and be an insider in the 21st Century.  This is my hope.
 
 

Saying Thank You The Old Fashioned Business Way

Posted by John Park on Oct 15th, 2008
2008
Oct 15

Business Thank You

 
Believe it or not, my little business blog has logged over 18,000 page views and just under 1,000 unique visitors in the first 3 months.  In the big world of the WWW, these stats are not that big of a deal but nevertheless, I am very pleased to see that so many of you are enjoying my posts.  If you’ve read more than a few of my rants, you already know that I have somewhat of an “inner conflict” about technology.  In many cases, use of technology will make your business better but there are times when it will encourage you to abandon the basics.  This post is about one of those times when it can hurt your business.
 
Don’t forget to say Thank You.  If you have kids, this phrase is probably very familiar to you.  I must utter these words at least once a week to our 5 year old.  After saying it again today, I thought it would be a perfect topic for discussion with my business owners.
 
In today’s fast-paced world of the Internet, e-mails and instant everything; many business owners are abandoning traditional business basics.  The bottom line is that it’s just too easy to send an e-mail or leave a VM when more is required.  Saying thanks in a proper way is a basic business etiquette that should be practiced no matter what the circumstances or economic conditions.  The good news is that so few business owners send proper thank yous these days that it will be much easier for your business to stand out above the crowd.  Unfortunately, it has become all too common for customers to spend thousands of dollars and not get so much as a thank you card in the mail.  In most cases, they might not even get an e-mail thank you.
 
 
Saying THANK YOU matters because of a few reasons.
 
1)  You will immediately elevate the positive perception of your business in your prospects’ or customers’ minds.
 
2)  You will immediately separate your business from the competition.  And by doing so, you will give your prospects and your customers a reason to remember you.
 
3)  Give your prospects and customers a positive memorable experience and watch them turn in to your business ambassadors. 
 
4)  Your closing ratios will increase.  Your repeat sales will increase.  Your referral business will increase.
 
 
Times to say THANK YOU via USPS mail
 
1)  After meeting a prospect.
 
2)  Upon securing a sale or contract.
 
3)  When a customer has referred you to someone.
 
4)  Periodically with long term customers.
 
NOTE:  NEVER use form letters.  They are worthless and you might as well not send them.  Handwritten cards and notes are best.
 
 
Like all worthwhile efforts, implementing a proper THANK YOU program for your business will take a commitment by you, the business owner.  As an example, when my sales representatives secured a deal, I would not allow the processing of that order until he or she handed in a hand-written thank you card with the sales order.  It was one way to implement the policy.  Remember, when it comes to these kinds of basic business principles and practices, easier for you does not mean it is better for your business.
 
 

Key Time Management Tips for Business Owners

Posted by John Park on Oct 10th, 2008
2008
Oct 10

Business Time Management

 
Where has the day gone?  This is a question business owners often ask of themselves at the end of every work day.  In many cases, the day might come to an end with a sinking feeling of low productivity.  This is only natural because small business owners wear many different hats throughout the day. 
 
Now more than ever, it is crucial for business owners to prioritize their tasks so that they may survive and perhaps even thrive during these tumultuous economic times.  Time management is one of those elusive “art forms” especially if you spend your day putting out business fires.  Bestselling books have been written about it.  One of the great ones I recommend is “The 7 Habits of Highly Effective People” by Stephen R. Covey.  Although the book is not completely focused on time management, it does explain in extensive detail how successful people are those who’ve mastered how to prioritize their tasks.
 
My advice is to schedule your business day with a firm regiment of time blocks.  Of course, you won’t follow the schedule to the exact minute because we are not robots and the unexpected will always interrupt you.  Do your best to stick to the regiment.  At the very least, the time blocks should serve as a constant reminder of your business priorities.  If practiced correctly, this daily schedule will give you a much better feeling of accomplishment at the end of each day.  And most importantly, you will have moved your business forward.
 
 
THE 6 BLOCKS OF TIME MANAGEMENT FOR BUSINESS OWNERS
 
BLOCK 1:  ???am to 11am — New Business, Sales Calls, Sales E-mails
BLOCK 2:  11am to 12noon — Return Client Phone Calls & Client E-mails
BLOCK 3:  1pm to 3pm — Client Care, Deliverables, Employee Relations
BLOCK 4:  3pm to 4pm — Return Phone Calls & E-mails
BLOCK 5:  4pm to 5pm — Administrative Duties
BLOCK 6:  5pm to ??? — Wrap-up, Organize, Plan for Next Day
 
 
KEY POINTS
 
1)  BLOCK 1 is the most important to accomplish every single day.
2)  Don’t let BLOCK 5 overwhelm your day.  If you’re able to, find someone else to take care of this block.
3)  You do not have to respond instantly to e-mails no matter how strong the urge.
4)  Learn to turn off your e-mail program.  It’s OK to do so.
5)  Technology should make you more efficient and not more distracted.
 
 
I hope you’ll give my 6 Blocks a try.  My time blocks will force you to move your buisness FORWARD regardless of the economic times or business circumstances.
 
 
***If you know other business owners who might benefit from this blog, be sure to forward it along.***
2008
Oct 2

Invoices

 
In this economy, you will inevitably notice a slowdown in your receivables.  Of course the timing couldn’t be worse because you need to maintain a healthy cashflow for the business.  Many of you might be looking for some techniques to speed up those incoming checks.  Here are some proven techniques you might be able to deploy.
 
 
( First Things First )
 
First, make sure your invoice is not at the bottom of the pile because you are so “nice.”  In this economy, the nice guy gets paid last.
 
1)  Firm up your contracts.  Now is not the time to be too casual when it comes to sales & service agreements.
 
2)  Avoid taking verbal sales & service requests–within reason.
 
3)  Include firm timetables for payment due dates and exercise your contractual right to collect late fees if necessary.
 
 
( Give Them Payment Options )
 
1)  Accept credit cards.  Yes, you’ll have to pay the 3% fee but depending on your cashflow needs, it might be a small cost of doing business.
 
2)  Be open to arranging payment plans with your troubled customers.  Remember that a “bird in the hand”… you know how the saying goes.
 
3)  Offer your own financing plan and collect a moderate interest or financing fee in the process.
 
4)  Try sending invoices via e-mail to speed up the process and offer them an online payment page.
 
 
( Incentive Collecting )
 
1)  Give them discounts for paying fast.  Let’s say an invoice is due in 30 days.  Give them a small discount if they pay within 10 days.  This is kind of an early bird special except it is being used on your invoices.
 
2)  Use their request for new services as a reason to bring the account balance to zero.  In some cases, you will have to hold firm against offering new services until they pay.  This situation gives them an incentive to pay now.  Every customer is different so only you can determine if “holding the line” is right in a particular scenario.
 
3)  Create a points system like the credit card companies.  The more they pay on time, the more points they accrue for rewards, discounts and other incentives.  Do you love your AMEX points?  This is the same concept except you’re creating your own program.  Even little juice shops run these types of plans.  Did you ever receive one of those cards you got hole-punched every time you made a purchase in the hopes of one day earning that elusive free item?  It’s funny how we LOVE free stuff.
 
 
Give some of these techniques a try.  Remember, it’s not about whether you’re going to get paid or not.  It’s an issue of when.  Where are you in the invoice line?
 
 
 

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