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September 2018
Volume 19 Issue 10

News of the day - you can now listen to Small Business Conversations in a lot of places

Small Business Conversations began as a monthly program over a decade ago. Recently the program went through a series of updates of which we are today announcing the latest

What started as a program to rebroadcast our 40+ seminars has morphed into a live program where we bring to you some of the brightest minds in small business management. You have always been invited to dial in, listen to the conversation and send us your questions that we will ask of our special guest.

If you missed the live broadcast, the program was recorded so you could listen to the program at your convenience on our website or download it for your phone or other device.

We then added the ability for you to listen online to the program as it was broadcast live. All of those options will continue to be available. Now we have even more. We know many of you listen to your favorite programs through various podcast services. The same is now true for our Small Business Conversations. While our most recent programs are put on these podcast services, we are slowly but surely adding years of our previous programs to complete the library.

To date, these are the podcast services hosting Small Business Conversations:
Anchor FM
Breaker
Overcast
Pocket Cast
Radio Public
Spotify
Stitcher
Google play, home, and Android Auto (Just say, "Google, play Small Business Conversations)
Apple podcasts, HomePod, and Car Play (Hey Siri. Play Small Business Conversations)

We will continue to send an email four days before the Thursday live broadcast and again on the morning of the program which is 8pm eastern.

Thanks for joining us.

Article of the Month - Value of a good salesman

This part of the September Small Business News is being written as I am working with a group in Chicago. After speaking to a group, one owner spent time with me discussing the sales rep that calls on her business. It was great hearing how knowledgeable and helpful this salesman is to this account. As I sought out the sales manager and the owner of the company to share the comments from this owner, they were both appreciative while confirming this is the reputation their salesperson has earned. The article of the month shares the story of how valuable a good sales rep can be to your business.
Book of the Month - When customers talk by T Scott Gross

T Scott Gross has been around for many years. We would say he is a legend in the industry, especially as you look at the list of books he has written and organizations he has spoken to.

When Customers Talk is a lesson in learning; in having your employees learning to listen to what your customers say. When we listen to our customers they are telling us how they would spend more money with us. This is true for your business whether you sell products or services.

There is a valuable lesson to be learned in listening to our customers. Let us suggest your using this book as a guide to learning more about what your customers are saying.

Internet Tool for Your Business - Turn Rate at Retail

Each month we highlight one of the 45 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 scene, are a part of the website and allow you to print your answers. None of them require you to give any personal information nor are there any "cookies" tracking you or your information.

Any business that has inventory should look closely at this calculator. With most businesses the inventory you have represents the biggest investment in your business. "Turning inventory" is a calculation of how many times over the course of a year that you replace the inventory you sell. Making that inventory "turn" more is a major factor in making more money.

With most inventory you would want to buy a supply that you would sell in a short time as compared to having enough inventory to last you for a year. This calculator is created to tell you how fast your inventory is turning.
Staff Incentive for Your Business - Lesson relearned at Whataburger

Last weekend in San Antonio we had an experience that was a reminder of what we should all practice in our businesses. We saw five employees doing an awesome job of interacting with a couple of customers. One of the five then came to our table and initiated a conversation.

The employee shared how much he enjoyed working at Whataburger. He shared his experience of the day the grandson of the founder of Whataburger (now a member of management) came in to eat. He was not recognized by the employees but he did observe an experience similar to ours - an employee doing an awesome job. The grandson introduced himself to the employee and expressed his appreciation for the exceptional efforts. Then he handed a $15 gift card to the employee. That employee loves to tell the story of how his employer appreciates him. We do not expect he is going looking for another job because he knows he is appreciated. What do your employees feel about where they work?

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) 823-7205 | www.profitsplus.org

 

 

 

 

 

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Tom Shay
PO Box 128
Dardanelle, AR 72834
(727)823-7205

MARCH 2025
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BOOK US

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

Advisories

Does it seem like you, as the owner or manager, are having to do everything yourself? The March Small Business Advisory points out ways to lessen your load; even the responsibility of hiring!

Small Business

News

 

Top Story

People love entertainment. Is there something about your business that engages customers? Perhaps a part of the reason for growth in online and drive thru shopping is because the business does not know how to engage the customer.


Article of the Month

If a person is going to sell their business, there needs to be a plan to do so. Perhaps the surprise is that there is a lot to be done before a business is offered for sale. The March Article of the Month is titled, "Game Over".


Book of the Month

What are your strengths? What are your talents? You may think you know them, but the Book of the Month, "Now, Discouver Your Strengths" by Don Clifton can assist you in getting a truthful assessment. You may even find some hidden strengths and talents.