Wednesday, May 29, 2013

How to STOP Hurting Your Business!

Which is it, the economy or you that are hurting your business?

With the uncertainty about the economy, many are wondering what is wrong with their business. In many cases, the answer lies in your ability to come to terms with “how” you manage your business, not is “what” is happening to your business.

Typically, a business owner realizes that their business is in trouble. However, they fail to take corrective action. You should want more and care enough about your business that you will not allow, nor will you settle for mediocrity. I am going to reveal four common mindsets that will hurt your business if you fail to implement them properly.

Failure to build lasting relationships with your customers. Satisfied customers, people who have bought from you and who are happy with that experience, need to be cultivated. They need to know you appreciated their business, that you understand what is of interest to them, and that their powerful referrals are appreciated. People forget, don’t assume they don’t. Keep in touch. Make ‘special’ offers, and always ask for referrals.

Failure to prune your operation. Assuming everything is okay is a mistake! You will wake up some morning to huge problems. Take inventory, set standards, design standard operation procedures, and monitor performance. Don’t wait until it is too late. If something or someone isn’t meeting the standards and required performance levels, take action. By pruning, you get rid of the deadwood and help the good wood grow. It is a necessary action for developing a winning organization.

The dreaded “I-Do-It-All” Syndrome. Afraid to delegate? Scared stiff to give your employees responsibilities? Do you really think you’re the only one who can get it done correctly? It is time to check yourself in for a psyche test!

It’s not uncommon for business owners to ‘waste’ numerous hours doing the work that they hired employees to do for them. Ever wonder why? Usually it is because you failed because of the following:

·         Failed to have a workable system in place.

·         Failed to properly train the employee to the system.

·         Failed to properly communicate with the employee.

            You see. It is not always the employee. What you have is an organization problem of major proportions … YOU!

            You need to learn the art of “Leverage and Linkage,” that is the effective process of written systems, standard operating procedures, and employee training.


Failure to sharpen your own saw! Knowing you should be doing better, but failing to get the help and guidance to correct it, will never make it get better. You’ll still be dealing with all the stress, chaos, and frustrations of your business.

Improving yourself and your business is a constant and never-ending process. The sooner you come to terms with this fact of reality, the sooner you can start solving a lot of your major business headaches.

Perfection is something that is unattainable. It is the pursuit of perfection that produces winning advantages.

Wednesday, May 8, 2013

How to Avoid the I.R.S. Crippling Your Business

Business winds down, payments slow up and cash flow barely exists. To compensate, you delay paying Uncle Sam.

Before you know, the IRS is knocking on your door, assessing fines, fees and interest. You know you owe. You’ve checked that, but what do you do when you haven’t got the money?

Don’t panic! The IRS isn’t going to send a SWAT Team to kick down your door and drag you away. However, this also doesn’t mean you should ignore them. If you know what you will owe them before you file, go ahead and file your return as soon as possible. If you fail to file, it adds a 5% per month non-filing fee that increases by 5% up to 25% for each additional month you don’t file.

The IRS will accept a written request for extended payment time, up to 45 days, if you request it in writing. However, this is a temporary window, and you need to come up with a strategy, payment or something.

Let's talk about that. 

I am not a proponent of trying to deal with the IRS by yourself. I recommend having a CPA or tax attorney do it for you. The reason is simply. Go to a casino and the odds are always in the best interest of the house. The same applies here.

With that thought in mind, I suggest a CPA, Tax Attorney or a qualified tax resolution official. They have the expertise and knowledge to negotiate you a better deal than you can yourself, and possibly get a reduction in the amount you owe.

The important thing is to take action coupled with a strategy and professional help.

Saturday, May 4, 2013

The Common Traits of Successful People

Have you ever wondered what it really takes to be successful?

Most people have a false belief of what success really is, and how you attain it.

Some think it is the price tag of the car you drive, the size of the house you live in, the family you were born into, the school you attended, or just the mere perception you may have more than them.

However, when you take a true look inside what success is, you see a different set of values.

Successful people see things differently for one thing. One may see a problem and develop a solution to fix the problem, where others are just fixated on the problem, or blame others.

Successful people may see a run-down part of town where hopelessness, poverty, crime and despair reign, and find a way to build it up so it can prosper. Others are content to wallow in their meager existence.

Successful people have their eyes constantly scanning for opportunities, while others are focusing only on mediocrity.

Successful people sharpen their skills with passion in order to do their best in their endeavors, while others passionately find excuses for doing nothing.

Successful people consistently view the future in the present tense, while others always look back in the past.

Successful people don’t wait for success to come to them, instead they relentlessly chase after it. Most people quit too early and never give success a chance to develop.

Another trait that is prevalent among successful people is courage. They nurture the courage to keep up the effort, the courage to be creative,  the courage to go against the group, the courage to get moving, and the courage to go it alone.

Successful people realize what the real value is of creating advantage and opportunity.