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Thinking of the next generation Frequently, I ask audiences for a show of hands for those who are part of a multi-generation business. From personal experience, it is a very special feeling. That is why I make a point each year to send this reminder of Take Our Daughters and Sons to Work Day, which is Thursday, April 23, this year. Our daughter enjoyed the experience. Perhaps in part because it gave her a day away from classes. However, she does have fond memories of working in the family business. If you don't have children, or if your children are grown, there are likely young people who would like the experience. As you think about it, I want to share a letter I received some 20 years ago. I believe it is a very important read for all of us as small business owners. Here's a link to what we call "A letter from Ron". Article of the Month - Staying in the vein of a family business, this month's article, which was originally written for SHOT Business magazine, draws a comparison of an owner and their business to a marriage. What responsibilities do you have to the business? And what should you expect to receive from the business? The title of this month's article is, "With this ring, I thee wed". Book of the month - Hit Refresh by Satya Nadella, chairman and CEO of Microsoft, writes about people, organizations, and societies. Satya uses Microsoft as an example, hitting "refresh", in your quest for new energy, new ideas, remaining relevance, and self-renewal. See the connection between this month's news, article, and book? Internet Tool for Your Business - The Internet Tool for Your Business for April is one that is very important, but we do not see many people tracking this. Your business offers products and services that vary in the amount of profit they produce for your business. While many businesses track their revenue per person, this calculator deals with a comparison of profit and payroll. What can this tell you? Envision a scenario in which an employee is talking with a customer. The customer is asking for a suggestion. Does the employee suggest what they like? Or do they suggest what is more profitable for the business? You might look at this as a variation of upselling. However, upselling does not always mean you are making more profit. We think you will find this calculator to be valuable. Each month, we highlight one of the 47 free tools on the Profits Plus website; we call them "calculators". While some provide analysis by numbers and ratios, some are assessments, and others are self-examination questions. Many are downloadable, while others, because of the complexity of the calculations going on behind the scenes, are a part of the website and allow you to print your answers. None of them requires you to give any personal information nor are there any "cookies" tracking you or your information. Internet Tool for Your Business Staff Incentive for Your Business - In our business, we all had weekly work schedules. We were fortunate to have some employees who liked to go above and beyond. These employees did not notice a clock, but noticed whether or not certain jobs were completed. And with these employees, we found them putting in extra time. As many of our employees were salaried, this did not put extra money in their pockets. However, as we wanted to make sure these employees did not experience burnout, we made an effort to point them towards the door and told them to go home. Showing an employee you care for them as individuals can add something very special to the working relationship. Having employees who are that giving when it comes to their work is also very special. We should be making the extra effort to take care of them. 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.
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OCTOBER 2026
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With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
Small Business
Healthy, Wealthy, and Wise. It may be the last part of a saying dealing with going to bed early and getting up early. It is also the title of this month's advisory. We are going to look at five tests you can perform on your business along with several calculations you can perform on your business to determine how well the business is performing.
Small Business
Continually, I am baffled by small businesses that fail to ask for customers for their business. The example for October is service businesses that deal with their customers on a monthly, quarterly, semi-annual, or annual business.
I don't understand why they tell customers to call when they are ready for the next service.
It is just a tool. We are talking about money. The October article tells the story of several small businesses that make a big difference in their community. These are heart warming stories of making money and using that money in some unique ways.
How about an uplifting book to start the last quarter of the year? Big Magic: Creative Living Beyond Fear by Elizabeth Gilbert can give you that boost in both your personal life and in your business.
All this plus the Internet Tool for Your Business and a staff incentive idea for your business.
