Stop for a moment. Think about your day. Are you doing work that should be delegated to your employees or contract workers? Small Business owner Robert is feeling overwhelmed and looking for tips to save time and increase his profits at the end of each month.
Would you be surprised to hear that your Small Business Show co-hosts have experienced this situation a few times? Dave and Shannon offer Robert some advice about delegating and keeping the phrase “Who is going to do this for me?” in his thoughts as he moves from working IN the business each day to working ON the business to become the manage and leader his company needs. Additional tips include saying no more often, raising your prices to reach an equilibrium between revenue and profit that works for you and your business and developing an Organization Chart to really see who’s doing what each day.
We then jump into a question about the impact of an impending increase of the minimum wage to $15 on Gail’s local Ice Cream business. The guys suggest offering more self-serve options, “gamifying” your product to incentivize customers to spend more, starting a membership or loyalty program and more. Just as important, your co-host remind Gail to be unique; “Don’t sell Vanilla”, with some examples of other food small businesses that have succeeded by being different.
Join us today for episode 121 of the Small Business Show! Then, follow us over to the Small Business Support Group to get YOUR questions answered.
- 00:00:00 Small Business Show #121 May 31, 2017
- 00:00:44 Happy to be alive…and take care to share the important details in case you’re not!
- 00:05:49 Our overflowing mailbag: firstname.lastname@example.org
- 00:06:20 Robert-We’re working a ton but not making enough money
- Scott Adams – How to Fail at Almost Everything and Still Win Big
- The E-Myth
- Who is going to do this for me?
- Learn to say No
- Increase your Prices
- Don’t Just be a Sales Business
- 00:16:20 Gail-Will Rising Minimum Wage Kill My Business?
- SBS 59 – Would a $15 Per Hour Minimum Wage Impact your Small Business?
- Offer more self-serve
- Gamify your product: Incentivize customers to spend more
- Membership/loyalty program – Find perks
- Borderland Books membership
- Don’t sell Vanilla: be unique!
- Voodoo Doughnuts
- Create the story
- Give it away… once!
- 00:28:00 Take a breath
- Reactive vs. Proactive mode
- 00:31:08 SBS Outtro