August 2026
Volume No. 27, Issue No. 9
What you can learn from a guest
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The guest I am speaking of this month is not a person. Instead, it is an acronym created by my friend Tom Agnes of Rogers, Minnesota. In his area and his industry, Tom Agnes is well known and well respected as a leader and progressive operator of his business.
Whether you sell products, services, or both, Tom's acronym of GUEST can be important to any business.
The G stands for greet. I could write many stories about the failure to greet a person. One way I gauge this in a business is by noting how many customers are known by name, as well as how many customers know the staff of the business by name.
Understand is the U in the acronym. Understand what you sell. You do not sell products or services. You are selling the result of that product or service. I don't buy a tree from a garden center. I buy the beauty in my yard and the shade it produces.
E is educate. And, educate can go two ways. The first is educating your staff. Most businesses train their staff, which is telling them what to do. Instead, education is helping employees to think. Educate is also for your customers. When we hear about add-on sales and selling up, both of these will occur naturally when we can share our insights and experiences with our customers.
Suggest is the word for the letter S. So, I will pick on restaurants again. Why is it that the wait staff brings a bill and lays it on the table without asking if you want a dessert? Or if the meal was so good that you would want to order an extra serving to take home for another day?
The last letter of the acronym is T, which is for thanks. Again, I am astonished by the number of businesses in which an employee hands the customer a receipt and then stands there as if the customer is expected to say thank you. That customer could have spent their money with another business, whether the business is brick and mortar or online. Thanks always goes to the customer because they chose our business as the place they spend their money.
And lastly, thanks Tom Agnes, for the lesson today. |
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Article of the Month -
Get an attitude |
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I remember attending a special class several years ago to hear a variety of speakers talk about their personal experiences and businesses. There was clearly a pattern you could see with the first five speakers. There was a lot of "poor me" and obstacles that caused my problems. I was ready to either fall asleep or slide out the back door to be relieved of this very downing event.
Then the last speaker began. While the story of her business was interesting, what I remember most was someone in the audience asking why she was so different from the five previous speakers and how she was successful. Her answer was simple. "No one told me I couldn't do it, so I did".
There are some other examples in the article of the month that I hope you will enjoy and learn from. Because, getting an attitude is important. |
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Book of the month -
Dream Manager |
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There is an old saying that people do not quit jobs, but instead they quit bosses. If there is a negative statement to be heard about a job, it is most likely to be about the boss or the work atmosphere in the business that the boss has created or allowed to exist.
While the example business in the book is fictional, the principles of the book are real. Everyone who comes to a job has a dream of what they want to experience. It is up to us as owners and managers to make that dream come true. |
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Internet Tool for Your Business -
Return on equity calculator |
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The calculator of the month teaches a valuable lesson about respecting the money you have invested in your business. Think about the money you have invested in your business. Whether it was your start-up money, money you loaned the business, or any situation in which you have invested in your business. What could that money earn for you if it were somewhere else?
This is not a suggestion to get rid of your business. Instead, this calculator is provided as a reminder that your business is an investment and you should expect a rate of return on that money that is better than what you could get in the financial markets.
And that is what this calculator will do for you. It will allow you to insert the numbers from your business and allow to find the answer for the equity you have in your business.
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. |
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Staff Incentive for Your Business -
A trophy |
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As we watched the World Cup championship recently, at the conclusion of the game, there was a series of trophies awarded. While each was unique in size, shape, and what they were awarded for, each trophy was treated with great respect.
It reminded me of a trip several years ago to the school I attended. The classroom I visited had walls that were lined with trophies. I asked my host if the trophies from many years ago were still among the collection. With a confirming yes, I asked where one was. And as he pointed to a spot on the wall, I walked over to that position, pointed to a place on the wall, and said that here was my trophy. Apparently, I was confirming what I observed with the World Cup.
No matter how small your business is, what if you were to create awards that your employees could earn? They may be trophies that you display in your business, post to your website, allow the employee to take home, or any combination of possibilities.
A trophy sets a person apart. Ask your employees how many of them have won a trophy. Not one of those "everyone gets a trophy", but a real trophy for what they have accomplished. If you see few people raising their hands, that means the trophy you award can mean even more to your employees.
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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