Need To Do More in Marketing Than I Have Time For

We have no one to work on marketing. Looks like I’m going to have to project manage it myself. But I don’t have the time to focus on it. Now what?

THOUGHTS OF THE DAY: Marketing does better when someone owns the department’s success. Make sure your marketing expectations are realistic. Look for someone who is already working in marketing who would like to pick up some additional work. Continue reading

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Moving Customers Toward Making the Purchase

 

Some customers have told us that they don’t have the budget right now to buy. We know they’re not going somewhere else, they’re just postponing the purchase. How can we get them to take action sooner rather than later?

 

THOUGHTS OF THE DAY: Sometimes customers lack the will to act. Other times, you may not be talking to the real decision maker. Some customers need you to do the math for them. Make sure the customer knows you’ll be part of the solution, not part of the problem. Continue reading

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Determining the Right Amount for a Bonus

We’re having that conversation about what to give for bonuses. No bonuses are bad for morale. I’m worried that if people get too much, they could sit back and take things easy for a while and that would be bad for productivity and profits. How do we get it “just right”?

 

THOUGHTS OF THE DAY: Use bonuses to give the company more flexibility as revenues and profits go up or down from one year to the next. Do a reality check on salaries first before deciding on bonuses. Check the trends on overhead payroll vs. revenue and cost of goods sold payroll vs. revenue ratios. Reward overall company performance to get everyone on the same page. If you have a 401k plan, check to see if bonuses are included in matching funds. Use a budget to stay realistic.

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Why Plan?

Finding it difficult to move things from in my head to getting it down on paper. Hear lots of my business friends say they, too, have plans for their businesses, but it’s all in their heads, not written down. Any suggestions on why that is, and what to do about it?

Thoughts of the Day: If you don’t have a written business plan, you’re not alone. Stats show you get higher results when you do. Follow some simple “How To’s” to get started.

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