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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.

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June 2015
Volume 16 Issue 7
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Article of the Month

Creating a procedure manual
by Tom Shay

Remember the game, 'Telephone', you played as a child? Something was told to the first person, who then whispered it to the second person. The second person whispered it to a third, and so it repeated until the last person in the circle heard it.

The game was concluded with the last person stating out loud what they had heard. The first person was then asked what they had been told by the person starting the game.

Definitely, the two statements varied greatly. Working in a business is a lot like this when you hire someone and give an existing employee the instruction of telling them how to perform certain tasks.

It just is not going to work. Read this article and you will see how you can eliminate this situation of the procedures within your business from degrading..

Click on Article of the Month to read this article.

Book of the Month

Amazing Face Reading
by Mac Fulfer

Wouldn't you like to have an advantage when you are talking with someone?

Perhaps you are selling something to a customer. You may be working with a vendor. How about a conversation with an employee?

With all of these, it would be great to have an advantage.

This book tells you how. Having watched this technique in person, I find it to be amazing.

The author explains how facial shapes as well as distances between various facial features can give you this insight.

The book can be a bit of a challenge with regard to grasping and retaining all of the important information. Do a search on the Internet for the title of the book and you will find the author has created a series of cards that can help you to memorize the facial features..

Click on Book Referral to see the complete list of small business books we have found that can be helpful to your business.

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Business Advisory

Independent Retailer Month
starts July 1

It is a celebration and a recognition of the thousands of businesses that are so important to a community. This is the 13th year of the event; something that was created to show a community, an association or an individual business how you could create some excitement between the business and the customers.

When the event was created, it was only a week long event which was to be held in the middle week of July. This date was selected because for many businesses, it represented a slow time with regard to sales in the business.

It also allowed me the opportunity to celebrate my grandmother's birthday. Let me invite you to visit the website for Independent Retailer Month. There is nothing to buy or subscribe to; there are no membership dues. Everything is free and available in a format that you can adopt for your business, association or community.

There are also a lot of statistics on the website which describe the value of an independent retailer to the community.

Let's celebrate Independent Retailer Month.

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The June e-ret@iler conversation will have Joyce Weiss as our guest. During our hour, we are asking Joyce to bring her expertise in workplace conflict to share with us. Whether we are talking about partners in the business, spouses in the business, children or other relatives in the business, or other employees, the conflict in the workplace can be a challenge to the productivity of your business.

We are excited to have Joyce joining us for the first time. She brings a wealth of knowledge that you will not want to miss.

The conversation will be Thursday, June 11 at 8pm eastern. Details will be sent to you on Sunday, June 7, and again on the morning of the event.


Internet Tip of The Month

Break even analysis calculator

As a business owner, you should know what your break even point it. This is a calculation that tells you when you begin to make money in your business.

The analysis gives consideration to those expenses that you are going to have even if you do not have a single customer. It then considers the expenses you are going to have that will vary as you have customers.

This information is valuable for a perspective business as well as an existing business. The reason for this is the scenario that many of us learned in a math or statistics class; there is a curve that exists and shows where the profit begins as well as when it will greatly increase.

Like me, you may find that the statistics class was a bit overwhelming. This calculator will help to eliminate that confusion.

Break even analysis calculator

The Incentive Idea of the Month

Thank someone else

We have all heard how we spend more time with our co-workers than we do with our family members. 

We can do something so that the family of our employees feel they are more a part of what your business is trying to accomplish.

When you have the occasion to recognize an employee for their efforts, send something to their family as a way of saying thanks for their support as the employee did something great for your business.
 
We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.


 

 

 

 

 

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.

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.