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While most small business owners have never written a job description for themselves,
we can ask if you are performing as a manager, owner or entrepreneur
 
Tom Shay
Profits Plus Solutions
November 2018
Volume 19 Issue 2

What's your job? Manager, Owner or Entrepreneur

What is it you are supposed to be doing? We are not asking regarding what you do each day; instead we are asking how you think. This is more than a play on words; it is a look at how you perform each day. Let's look at several examples.

When you perform as a manager (even when you own the business), you demonstrate a tendency to look at what you want or need to get done. Even as you have employees, you see things as a personal responsibility. "I guess I have to do this myself if I want it to be done right", is a frequent statement or attitude.

This person likely finds themselves putting in a lot of hours as they are doing things that others should be doing.

The owner (an attitude, not a financial position) frequently demonstrates how everything in the business surrounds them. Having "earned" the position of owner, they see the need to be making decisions. The business is a strong reflection of the owner from the products and services offered, to the employees hired. Expect this person to be using the word, "I" a lot.

The third person is an entrepreneur. Do not see this person as being cold and distant, but instead, see this person as having the rare talent of being able to look at themselves and the business objectively. The type of business they have was chosen because it was the best opportunity for the location available. They can visit one type of business - providing a service or selling any number of products - and see ideas they can implement into what most will see as an unrelated business. We refer to this skill as, "translation".

It is not which of the three jobs a person is born to be or have. Instead, it is asking what skills does the individual work to achieve.

These questions are why we create this newsletter each month. Between the book suggestions, employee incentive, online tool and article of the month, we hope you receive these as prompts to improve your skill set. Not that one person needs it more than another; we all need to be working to improve.

Extreme customer service - our article of the Month

During the past week, many of us have heard the reports of the sales online for this past holiday season. And some writer is surely to go off with a tangent of how this is affecting our businesses.

Without question, there are a number of things the online businesses can do that we cannot do. And looking at the opposite side, there are a lot of things we can do that online businesses cannot do.

There is a component I want to invite you to look at today; the things we can do that for some reason we will not do. They are all positive things that can make a difference, but with our decision we decide to not put these advantages in our corner.

Let me invite you to read this month's article to get some ideas. Doing these things is a lot less expensive than advertising and cutting prices.


Book of the Month
Thank you for being late

We have a book suggestion for January that was given by Mike McCormick, our favorite CPA and someone who has been a guest on e-retailer conversations multiple times.

The suggestion is, "Simple Number, Straight Talk, Big Profits!" by Greg Crabtree. Just as we have suggested Mike's book, "Entrepreneur's Guide to Forming a Business Entity", is an easy and great read for your business, we can suggest this one. You will likely have this book completed in just a couple of sittings, and we think you will be impressed at how you have enhanced your knowledge.

Sales per employee - Internet Tool for Your Business

A very common mistake made by small businesses is that of not having your payroll with a direct relationship to your revenue. Perhaps your business is one that has December as the best month of the year. Many of these same businesses have January as their worst month of the year.

What is the difference in payroll? Granted some businesses are small and cannot reduce their staff past a certain point. However, if you did "ramp up the payroll" for December, are you "ramping down" for the New Year?

Here is another Profits Plus free calculator that can help. To use this, we suggest you utilize multiple income statements from the past year so you can see if the number is consistent. And if the number is not consistent, you can either make a change, or justify the inconsistency to yourself.

Staff Incentive for Your Business

How were the holidays for you - personally as well as a business owner? Did any part of it cause you to be tired; frazzled; irritated? All of your employees likely had some of the same challenges.

Help you and your employees get January off to a good start by making the work atmosphere a bit lighter What if one morning you brought in coffee and donuts for everyone?  Try playing trivia, or inviting everyone to play the app, "FriendO". Try something that helps to say, "Let's all enjoy the time we spend with each other, and get 2018 going in the right direction".

We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.
Profits Plus |tomshay@profitsplus.org | (727) 464-2182 | www.profitsplus.org
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Profits Plus Solutions, Inc.
PO Box 1577
St. Petersburg, Fl 33731
(727) 464-2182
Fax: (727) 898-3179