Suppliers determine many of the costs of your business and can significantly impact the quality of your product. The relationship with your supplier can make or break your business. With such high stakes, what factors should you consider when choosing a supplier? Price Quality Reliability Communication Financially stable Capacity Payment terms 1. Price Price is
“Branding? That’s like my company colours and logo, right?” Yes, and then some! More than a clever logo, the basics of your small business brand is the experience people have of doing business with you. It only takes a split second for consumers to make a judgement about us and our company. “Products are made
Do you trust your team? Or are you biting your nails waiting for a call when you are out of the office? If you are, you may have fallen into a trust trap! These are patterns small business owners fall into that could affect the performance of their team. So how can you build trust
What’s your team like at your small business? Are you happy with their work? Are THEY happy with their work? How can you motivate your team to improve their performance? People are inspired to do their best when they use their talents to positively contribute to an organization. You need to recognize your employee’s contributions.
Who has the most influence on how well an organization communicates? YOU! The owner and leader of your business. Your greatest leadership asset is your ability to communicate. Do this well and everything else will fall into place. Communication systems What is a system? A system is simply the way something happens. The way you do anything in
Price has a significant influence on your customer’s purchasing decision. Once a consumer becomes aware of a problem, they research and gather information including price. Then they evaluate options, make the purchase, and determine if that was a good decision or not. Pricing your product or service accurately is an art and a science. Get
Doing “marketing” is only half of your business development process. The other half is figuring out, now that you have their attention, how to easily get your prospects to buy from you. Converting shoppers to buyers requires a system for follow-up. This is not about being pushy, it is about building relationships. People buy from
Do you consider your business to be successful? Are you making the money you want and do you have the freedom you desire? If not, you may need to take a look at your systems. Your systems are directly responsible for your business success. When you control your systems, you control your business outcomes. Many
In reality partnerships are hard. Really hard. Partnerships deteriorate quickly if expectations around work load and money are not clearly defined.
This week in British Columbia it is “Make a Will Week” making this a great time to talk about why small business owners in particular need a will. Over the past few years I have witnessed the pain and financial struggle, even ruin, more than a few small business owners have had to endure because someone in their life passed away without a written will.
Two scenarios come to mind that best demonstrate why this week, I encourage you to take 10 and make an appointment to get your will done.
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