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With over 25 years of frontline experience Tom Shay is America's leading small business management expert. He's a "Must Have" for your next event.

 
August 2013
Volume 14 Issue 9
Article of the Month

Managing by the numbers
by Tom Shay

Are your financial statements important? That depends on how much value you place on making a profit in your business and having money for you and your family to live on.

And as a reminder for those who believe they do not have time to understand the financial statements, remember that you can always hire an employee or manager, but you cannot hire an owner.
Click on  Article of the Month to read this article.

 
Book of the Month

Work the system
by Sam Carpenter

The book for June 2014 is different in several ways. 

The first difference is that it is somewhat of an inspirational book with information and guidance of how to get more work done in less time.

The second uniqueness is that you can get a part of the book for free in PDF version at the author's website. 

Click on Book Referralto see a list of books that would make great reading for any small business owner.

 


 
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Profits Plus
P.O. Box 128
Dardanelle, AR
72834 USA
(727) 823-7205 Voice
(727) 898-3179 Fax

 

 
Business Advisory

Plan now for
Independent Retailer Month

The first version of this celebration began 11 years ago as a one week event. It was the week that would include my grandmother's birthday.

The reason for the celebration was that I wanted to show businesses and communities how they could create their own events to draw attention to them.

Six years later, Kerry Bannigan joined in with her 'Independent Retail Week' which was geared toward the fashion industry.

This all-volunteer non-profit event continues to grow as it is now celebrated in England and Canada under the guidelines of Claire Rayner and Barbara Crowhurst.

Add it to your community and business to show the importance of an independent retailer to the community.

The website, independentretailmonth.com has plenty of support material to explain just how much more your business does for the community than any chain store, mass merchant, or box store.


$$$$$$
 
The June e-ret@iler conversation is going to be quite different from what we have previously offered. 

As a means of introduction, let me ask you to remember a couple of television and radio programs. Charles Osgood and Charles Kuralt; these shows, 'The Osgood Files' and 'On the Road' respectively, were unique as the two hosts found a collection of stories to report from about the country. 

My experience was that the stories were fascinating and if not for these two reporters you would have never heard what they were telling you.

That brings us to this month's guest. We found this month's guest on Facebook as she was looking for businesses to interview. Her name is Christy Haussler and her program is the Brick and Mortar Reporter Podcast.

Christy searches for business people who will share their stories of their business. Their story may be about overcoming a difficulty, how they came to be in the business, or what makes their business unique.

Last month's conversation with Mike McCormick, CPA was recorded and is on the Profits Plus website if you were not able to join us for the live broadcast. Most all of the e-ret@iler conversations from the past five years are recorded and archived on the Profits Plus website. Help yourself to the free downloads.

E-ret@iler conversations

 

 

Internet Tip of The Month

The return on investment calculator

As I write the June e-ret@iler newsletter I am also preparing a presentation for a group that will be discussing this same calculator. My belief is that this is a very important bit of information that all business owners should know.

If you were to take the total dollar amount you have in your business and invest it elsewhere, you would surely ask what the rate of return would be for that money.

This calculator does the same using the information from your financial statements. More importantly, after you know what your rate of return is, you can also see what you can do to make your return on investment increase.

Return on investment calculator


The Power Promoting Idea of the Month

Playing the name game

Let me remind you that June has Flag Day on the 14th for the USA as well as Father's Day on the 15th.

Recently I went by the business that originally had this promoting idea. They first started the promotion in 1956.

They have a whiteboard at the front of the business and post a different first name on it every day. If you come into the business on the day your name is on the board, there is a door prize for you. They use one of those books with 10,000 baby names in it. When you see the book, there are dates next to each of the dates as they have been chosen.

The only modernization for the event is when they changed to a whiteboard from their original chalk board.  

 

 

 

 

 

 

 

 

MAY 2024
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Small Business

AdvisorieS

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.

Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.
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BOOK US

With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.

Small Business

Advisories

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

 

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.


Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.

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Profits Plus Solutions, Inc.
Tom Shay
PO Box 128
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(727)823-7205