Friday, February 12, 2010

Free Coaching Resources for the Business Executive

Welcome to our free resources page where we offer tangible consulting resources with valuable business development information designed to help you—all at no charge!

People tell us we’re CRAZY to give away our knowledge for FREE so why do we do it? Because when you see all the great ideas we have in just this one area, you’ll want to know more about our business coaching and consulting services and how we can help YOU! And that’s good for us.


Free Calculators

Want an early warning alert on whether you're cash flow positive? Not sure where your break even point is? Want to know how small changes in your business process will affect you? Get your answer here using these on-line business calculators!

break even calculator
Break Even Calculator-
How many sales do you have to make to break even, anyway? This break even estimator will help you get a handle on that number and allow you to see the results of simple "What if?' scenarios.

Early Warning Tips pdf
Cash Flow Early Warning Calculator-
How long does it typically take you to collect on your accounts receivable? Are you paying your accounts payable too soon? Download this quick and easy formula to monitor your cash flow position. Even better, add it to the spreadsheet you use to track your business performance! This method provides a snapshot comparison of your accounts receivable vs accounts payable; it is most accurate in a business model that typically has a large number of routine sales.

cash flow calculator
Cash Flow Calculator-
Believe it or not, many businesses are "profitable" when they go under. They don't survive because they don't monitor their cash flow. Use this cash flow calculator to see where you are and model "What if?" scenarios.

startup costs calculator
Start Up Costs Calculator-
Got a great business idea? Want an estimate of what it would take to get it off the ground? Use this calculator to estimate what it would take to get the doors open and ready for that first sale.



Free Report

Free Report Surviving The Recession
The Business Growth Accelerators Guide to Surviving The 'Great Recession'!
is over 50 pages of recession-resistant marketing knowhow.

Contact us and get your free copy today!

 

 

 


Free PC and Mac Software Quick Reference Sheets

Can't remember that software function or keyboard shortcut? Looking for a handy, single sheet, quick reference guide to your Windows or Mac operating system, or a Microsoft or Adobe software product? Check out these excellent one-sheeters listing the most popular functions and shortcuts.

Software quick reference guides
Software Quick Reference Guides-
Instructions – Follow the link to open a new window, then RIGHT CLICK on the guide you choose:
To open each quick reference guide — select "Open in new window" to open in a reader window
To save each reference guide – select "Save as..." to download to your computer.

Call us today by (561)993-3343 ext 2.

Typical Mistakes

Here's a few of the most common mistakes business owners typically make in trying hard to grow their business. Do any of these look familiar? We will help you fix these problems and restore the dream that lead you to open your business in the first place.

Competing on price or being “the low price leader”. Small and mid-cap businesses can't compete in this arena, so why are you competing by the “big boxes” rules? Do you compete by their rules in other areas, too?

Filling the role of Master Technician in your business, while the CEO slot you're supposed to be occupying is empty. Is no detail too small for you check on? Do you have to approve EVERY decision? Is everything reviewed on a case-by-case basis in your organization? If so, you're functioning as an over-controlling master technician, instead of an effectively delegating CEO.

Cutting out all marketing effort and budget in an economic downturn. Marketing is everything you do to tell your target market about how you can help them. . .and how to contact you to get that help! If you cut out all marketing effort to save money in a recession, then you've just stopped sending your message out! What happens to your bottom line when new customers can't find you and established customers slowly stop coming back?

Not knowing the basic elements of how to effectively market your business. Effective marketing means telling everyone in your target market how you can help them. So, marketing doesn't cost, it pays! Are you one of those making the huge mistake of running a yellow pages ad, hanging a sign on the door, then waiting for enough customers to find you?

Spending huge sums of money and time on marketing seminars. . .and then tucking all that great information into a file drawer, never implementing what you've learned. Is that last seminar handout still in your file drawer, with great ideas unimplemented? What return on investment (ROI) are your getting from that behavior?

Not using marketing dollars wisely. You don't have a business growth marketing plan of your own, so you get drawn into every marketing rep's sales pitch for their form of advertising. But your poor ad response means you're just putting dollars in the marketing rep's pockets. . . not yours!

Continuing the same fruitless behaviors over and over. . .and expecting a different result! Many business owners don't know what to do or where to turn when their (or their advertising rep's) strategies don't work. So, they continue to pay for the same fruitless strategies over and over again. Does this sound like you?

And the list goes on and on!

How to Maintain Sales Revenue in the Great Recession

The goal of every business is to maintain net income during the Great Recession. Yet, that goal may seem impossible to achieve when your patrons are spending less, in general, and cutting back on discretionary spending, in particular. What Marketing and sales strategy should you use to maintain, or even increase, your net income during the current economic contraction?

Sales are not down everywhere

First, let’s dispel the notion that business sales are down in every category and market. Even in the hard-hit-hospitality industry, venerable McDonald’s actually saw an overall sales increase in 2009. So let’s explore what sets those businesses that can increase sales in this economy apart from others that are floundering.

Get into your patrons’ heads

Any successful marketing or sales strategy depends on understanding how your patrons (your customers, clients, or patients) in your target market think. So crafting a successful sales strategy for our current economic situation must start with understanding what your target patrons are thinking under these conditions.

Most patrons (and small and mid-size businesses) currently have an outlook best described as siege mentality.  They’re listening to the bad news of the highest unemployment levels in more than a quarter-century, the actions banks are taking that further restrict credit and seeing the effects of the downturn on their friends, patrons and colleagues.

How patrons behave in a recession 

Personally, your patrons may fear the imminent loss of their jobs, may be working fewer hours or may have had their limits recently lowered or interest rates raised on their credit cards.

In response to these internal and external pressures, consumers typically begin hoarding cash, cutting back on discretionary purchases (ranging from entertainment to regular dental examinations) and reducing the dollar amount spent to buy necessities (such as buying a half tank of gas instead of filling up).

Even if some of your patrons are not personally affected, they will usually avoid conspicuous consumption and high-dollar purchases to avoid alienating their peer group during tough economic times.

So the key to maintaining your sales revenue and profitability during the economic downturn is understanding what your patrons are thinking, how that thinking changes their buying behavior and adjusting your marketing strategy to meet their new needs accordingly.

Next time, I’ll share how to use your new insight to create some recession-busting business strategies that will help you maintain, and even grow, your sales in the Great Recession.

Now that you understand your patrons’ current outlook, what should be your business strategy? Share yours with me at results@edgecenter.info

Suzanne Harper is the executive coach and business growth consultant at the EDGE Center. Learn more at www.edgecenter.info