Why is it that in most business and social encounters the mouth is employed much more than your two ears? Many people think they are listening when they are just hearing. If your ears are healthy, hearing is an automatic anatomical response to sound in your vicinity. It takes no effort or skill. On […] Read more »
10 Tips to Build Better Trust in your Business
Trust Builds Confidence The single most important thing you can do in starting and building a business is to get people to trust you. Trust needs to be earned and takes time, although you can lose it in a second. Telling people to trust you doesn’t cut it. In fact, when people I just […] Read more »
Preparation Works in Business as in Sports
The sports media and coaching community consistently attribute the success of our sports stars to their dedication to preparing for their role on the playing field. Football quarterbacks, who besides their extreme physical routine, spend huge amounts of time seeing film of their next opponent and studying their game plans. Baseball pitchers study countless hours […] Read more »
No Can Become a Yes in Selling
Would you believe NO can get you a good Yes? Yes, it’s true; sometimes NO is the keyword for successful selling. In all negotiations and selling which falls into that category, you need to understand the other person’s needs, job responsibility, and goals. One of the major responsibilities of a buyer is to get the […] Read more »
A Letter to My Blog Subscribers
To: All Subscribers to my Bootstrapping 101 Blog From: Bob Reiss First, thank you for subscribing and reading my blogs. Second, I want to wish everyone a happy, healthy, and fulfilling New Year. When I started writing these blogs over 15 months ago, I was told by the Internet experts (of which I am […] Read more »
HIRING AND FIRING—DIFFICULT TO DO
Your Growth Can Depend on It Most small business owners will agree the quality of the people they hire is critical and can help make or break their company. It however, is not an easy task to find and hire the right person, particularly if you have a limited budget. Here are some things […] Read more »
Outsourcing Turns Fixed Costs Into Variable Cost
Low monthly overhead could save your company during a cash crunch. A fixed cost is one that your business incurs whether or not it makes any sales. An example is rent: It has to be paid every month whether or not you’re generating any income, and it’s the same every month. A variable cost, by […] Read more »
LISTENING INSTEAD OF HEARING
Why is it that in most business and social encounters the mouth is employed much more than your two ears? Many people think they are listening when they are just hearing. If your ears are healthy, hearing is an automatic anatomical response to sound in your vicinity. It takes no effort or skill. On […] Read more »
Passion Required To Start and Grow a Business
PASSION−A key attribute to overcome adversity and build a business. Every attribute and skill can be learned except passion. I would not recommend that anyone start a business unless they have a passion to do so. Passion is the wild card in overcoming many obstacles facing fledgling companies. To name a few: inexperience, knowledge shortfalls, […] Read more »
2 New YouTube Videos to Help Small Business
On September 13, I was invited to speak to the Entrepreneurial class of Professor Danny Warshay at Brown University. Professor Warshay taped the session, and I have edited out two segments to make my YouTube debut on offering practical tips to Small Business that are within the ability of all entrepreneurs. Here is the description […] Read more »
15 Attitude Attributes for Entrepreneurial Success
Knowledge, skill, talent, and to some extent, resources are important success components for Small Businesses. However, many competitors have equal or more of these components than you. The key to overcome competition and attain absolute success is mental, which is reflected in one’s attitude and is totally controlled by the individual and requires no cash. This holds true in most human endeavors besides business like sports, the arts, politics, etc. How many times have we seen the underdog team or player win over the more talented opponent? The difference is attitude. Read more »
MISTAKES CAN BE A POSITIVE
Everyone makes mistakes at one time or other. Some more than others. The question is how does one deal with their mistakes? Many get depressed, defensive, and overly cautious. A better response is to use every mistake as a learning experience. Delve into the why’s it was made and the how’s to avoid them again, all the while keeping your head up and maintaining your energy level. Read more »
WHEN to SAY NO to a CUSTOMER
They're your business's lifeblood, but that doesn't mean you have to be a push over. All customers, especially buyers in business-to-business transactions, have a responsibility to their pocketbook, which you, as the provider of services or goods, need to understand. The customer's goal is to get the best deal they can. In pursuing their agenda, customers may cajole push or even demand the best deal possible. Sellers shouldn't take this personally. The customer is only doing his job. But, as important as it is to satisfy your customers, there are times when the right thing to do is to say no. Read more »
WHEN HIRING A CONSULTANT, BEWARE OF . . . .
At some point in the growth or even start-up of your company, you may want to hire a consultant to educate or guide you. You may rightly want the consultant for their expertise in myriad disciplines like advertising, management, a specific industry, social media, branding, etc. Read more »
INTUITION—USE IN DECISION MAKING?
One of the big questions about decision making is the intuition versus science balance: how much should you go with your gut and how much should you depend on information that has been gathered systematically? My answer is that intuition should be used as often as possible. I’m well aware that there are many people who feel that “your gut” is the same thing as “your emotions” and therefore should not to be trusted. But it seems to me that if you’re working in a realm you’ve very familiar with, your gut is based on the sum total of your past experiences. Read more »
TROUBLE GETTING AN APPOINTMENT ?
I loved reading the below Media Life Magazine article on a smart way to find a job.I have reproduced it in its entirety as I believe it applies equally to securing a hard to get appointment in your sales effort. Read more »
Energy – An Important Entrepreneurial Attribute
One thing I’ve noticed, in my conversations with entrepreneurs over the years, is the incredibly high energy levels most of them possess. It would be interesting to find out whether they’ve always been that way, or whether they started working at higher energy levels as the amount of fun and reward in their lives began to increase after they started their own business. I’m convinced that, within reason, physical activity generates more energy than it consumes. Read more »
ACCEPT CRITICISM GRACIOUSLY
I believe that a strong attribute of a successful entrepreneur is to accept criticism and to do it graciously so that the person offering it will give it again. Sounds simple enough, but a great number of people just can’t do it. They get angry, petulant, standoffish, etc., and resent the person offering it. The opposite should happen as most people offering it like you and are doing it to help you. In fact, it may be uncomfortable for them to do it. Those receiving the criticism should thank them. Read more »
BREAK-EVEN ANALYSIS – How It Helps You Judge Risk
This is a tool that is sometimes overlooked, even though it is easy to use and gives you valuable information in a number of different contexts. The break-even tells you in dollars or units what amount of sales you need to achieve in order to recoup all your fixed costs or investment. I am always amazed, when I visit MBA classrooms, at how few students take the time to make these relatively simple calculations. Are you trying to decide whether to proceed with a new product introduction? Are you trying to understand exactly where costs stop and profits start for your company? Are you trying to decide whether to buy a company? In all of these cases, the break-even analysis should be your tool of choice. Read more »
Write Your Business Plan in Pencil
The smartest entrepreneurs plan on growing and are prepared for change. I have a few words of advice for first-time entrepreneurs, as well as seasoned business owners looking to hit a new stage of growth. My advice is this; write your business plan in pencil. I realize this may be difficult for all you non-golfers, but doing so will illustrate two important principles. Read more »