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Business Turnaround: Returning To A Path of Profitability

By Bob Prosen   |  Comments 1

Path to Profitability

Don’t you love it when this happens:

You have a great idea, you gather all the resources needed to make it work, you implement your plan, and it’s a success!

You are a implementation and turnaround rock star!

But as time marches on things shift. And if you’re not completely in tune to those variances, it’s easy to look up and find your business plan completely off track.

But that’s Ok, every company gets off track. It happens.

The key is knowing how to figure out the problem so you can turn your business around quickly.

If you ignore the issues hoping they work themselves out, you can get yourself and the company in dire straits with no “good” way out.  Right now, a number of companies such as Dollar Thrifty Automotive and Radio Shack are seriously off track, and it remains to be seen whether they’ll be able fix their problems.

Returning to a Path of Profitability After You’ve Fallen Off Course: Read more

The Customer Connection: Balancing Costs & Customer Quality

By Bob Prosen   |  Comments 1

Something’s got to give, right?  Running a small business during this economy is tough, so certainly customers understand you can’t be everything to all people.

I mean, shouldn’t everyone – including customers – expect a little give and take?

Well, yes and no.  While customers understand times are tough, they also recognize the added buying power now available to them.  This doesn’t mean loyalty will fly out the door in search of the lowest bidder, but it also means you can’t ignore the quality of your customer service.

During tough economic times, you can’t dismiss the value of having strong customer connections.

Maintaining quality customer experiences is crucial to the survival of your small business. And getting the right message across to your current and future customers will make or break you.

While it’s essential to aggressively manage costs during the recession, your business will be doomed the moment you… Read more

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Small Business Sales: Ever Wonder What Top Sales People Do Differently?

By Bob Prosen   |  Comments 1

You’ve probably noticed that great salespeople sell differently. What you might not know is how they do it. So here are a few of their secrets.

Sell what the company has I’ve managed hundreds of salespeople in Fortune size companies and small business only to discover that the less successful ones complain about price and needing more products or services in order to make their numbers. Instead of focusing on the value of what they have to sell, they focus on discounts and getting “more” products in their bag. Successful salespeople always find ways to sell what they have.

Sell more than your product Talking about your product without understanding the customer’s problem is a big mistake. If you’re selling software, people don’t want to buy software. They want to improve the quality of their billing systems and stop customers from getting inaccurate invoices. You need to understand how customers use your products. Approximately 75% of customers buy to solve a problem. The rest buy to try something new. The ones with problems have a higher sense of urgency to buy. Uncovering these problems quickly is what the best salespeople do. Read more

Small Business Customer Service: Are You Doing Enough?

By Bob Prosen   |  Comments 2

There’s no question, your customer service strategy had better be stellar for long-term success — especially if you are a small business.

You also want to differentiate your business from others that are doing the exact same thing you are.

In fact, if you want your business to shine when it comes to customer service improvement, then you’ll have to make some investments. But what and how much should you invest?

I’m about to tell you how to evaluate your company’s level of customer service, identify your shortcomings, implement best practices for customer service improvement and dramatically increase your company’s level of customer service. Read more

Small Business Leadership on Economic Recovery

By Bob Prosen   |  Comments 0

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In this interview I speak with Jim Blasingame about a recent small business leadership poll I took, where 335 small business owners weighed in on what they really think about the economic recovery and the impact of uncertainty on their ability to grow their businesses.

  • 53% believe things will improve
  • 88% are concerned about government’s growth rate
  • 95% believe taxes will increase
  • 77% feel the country is headed in the wrong direction
  • 90% Do not trust congress

We also discuss tax planning, the Tea Party, social media’s role in shaping politics and the increasing velocity of change.

Social Media and Your Business — What’s All the Hoopla About Anyway?

By Bob Prosen   |  Comments 8

It wasn’t that long ago that I didn’t know a thing about social media or how it could help my business — or yours — and quite frankly didn’t even care.

Let’s face it, we’re all extremely busy and it’s practically impossible to make time to learn something new, especially when you’re not sure if it’s going to pay off in terms of real customers or not.

It’s sort of like buying the first model year of a car. Better off waiting until all the bugs are worked out, right?

But just because I didn’t understand the importance of all this new stuff didn’t stop my clients from asking me about it.

Some were extremely knowledgeable while others wondered what all of this social media stuff meant, if it was worth their time, or if it was just another fad.

Whether or not you feel your business “needs” any of this, one thing’s for sure: Almost everyone wants to know more about social media, the Internet and SEO – search engine optimization. Read more

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