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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.

 

  e-ret@iler newsletter
July 2007
Volume 8 Issue 8
Profits_Plus Solutions
Tom Shay Photo
Article of the Month

A 9 point customer
service plan

The July 2007 article continues on the issue of customer service. The article is one that you can print and share with all of your staff at your next staff meeting. You are having bi-weekly staff meetings aren't you? Click on Article of the Month to view and read this article.

 

Book of the Month

Building Customer Loyalty
by Joanna Brandi

Ask 20 businesses to tell you about their business and they will likely mention "great customer service" as one of their strong points. If everyone gave great customer service, then great customer service would just be the 'norm' for business.

How do you get customers to be loyal to your business? That is what is important!

We have more books to suggest for your reading. Click on Book Referral to visit this page on our site.

 

 

Contact Us


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


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Business Advisory

Who's on first? What's on second? I don't know is on third?

You will likely remember these lines as an adaptation of the famous Abbott and Costello routine. Did you know it also applies to business? Here's how.

Recently I went to visit a multi-generation business. The young lady I first spoke with was the daughter of the owner. She spoke intelligently and in the case where she needed approval, she said, "I need to ask Jerry about that. Please excuse me for just a minute". (Jerry was her father)

A visit to another multi-generation business, a car service center, had a situation where I walked in and the young lady said, "Can I help you?"

My response was that I wanted to pay my bill and thought she would like me to do so, so that they would have paychecks later that week. Her response was, "I will get my check either way".

I thought it was an odd, and impolite, response. But what got me was when she answered the phone, told the person to hold on and then said, "Daddy, line two".

The first business owner is teaching their daughter the business from the ground, or front line, up. She has to work hard to get her first "hit". In the second business, her dad has given her special privileges. Someday she may become management, but she will never know or understand what is necessary to work your way up in the business. Definitely she is not learning that it is the customer that makes the business possible.

Unfortunately, the 'advantage' many parents want to give their child is really a big disadvantage. How are you doing with your children?

Internet Tip of The Month
New Calculator: Debt to Equity Ratio

Although similar to the Debt to Net Worth calculation, (which we covered last month) we are now comparing the debt (total current liabilities and long term debt) to the equity of the ownership of the company.

Debt to Equity Ratio is calculated by taking the total of the debt, and dividing it by the equity. Equity is calculated by adding the net worth and the stockholder (or owner) equity. The answer is stated as a ratio (i.e. 1.5:1). For a small business, 1:1 is unrealistic, but 3:1 indicates you owe a lot, and a bank is probably not going to look at you favorably with regard to a loan.

Click on the link below to visit the calculator page that will perform this calculation for you:

Debt to Equity Ratio

The Power Promoting Idea of the Month

What's on back of your business card?

We learned the lesson the hard way a long time ago. A traditional business card is blank on the back. You give a card to someone and it continues to be your business card until..

That until is when they need a piece of paper to write something down; a phone number or something to get at the grocery store. Now the card is no longer your business card but has become a note card.

You solve that by putting something on the back of the business card. How about putting a list of your services. Everything from alterations to repairs to delivery. The cost is minimal. You eliminate your card becoming something else. And, you are telling your customer something else about your business.

 

Where's Tom?

Summer continues at the Shay house. The treehouse we are building is well under way and hopefully we will have it finished in July. When Tom is not in the office or up in the tree, here is where he will be:

July 9-13 San Diego, CA
July 16-17 Newtown, CT
July 18 Newark, NJ
August 9 Houston, TX
August 12 Atlanta, GA
August 22 Chicago, IL
August 24 San Antonio, TX

 

 

 

 

 

PROFITS PLUS, FOUNDER OF...

 

©1998-2026 Profits Plus Solutions, Inc.
Tom Shay
PO Box 128
Dardanelle, AR 72834

(727)823-7205

MARCH 2026
Have the Small Business Advisories and News sent to your inbox. Subscribe HERE

Small Business

AdvisoriES


Every time I see the logo for Target stores, I think about small businesses and the need to know which people to target as their customers. Of course, of most importance is the person who has spent any money with your business.

 

I ask businesses if they know how much the average person spends with their business. Most offer a quick response with a dollar amount. That answer is incorrect as they are telling me what the average existing customer is spending. The average person in any community spends no money with that small business.

 

Looking for new customers without any plan of how to do so is just spending money. That is why every small business needs to know how to find and use information. Find ideas in the March Small Business Advisory.

Small Business

NewS

Top Story

Employee retention; is it important? Or is it easier to lose an employee and wait for the next applicant to walk in the door? The Small Business News for March shares some statistics of the expense you incur when you make the change instead of working to retain a current employee.

Article of the Month

It is baseball season and we use the sport as an explanation of the cost of growing your business. In Boston's Fenway Park, left field has a wall that is know as the green monster.

 

And that is what growing your business is - a monster! You can't successfully grow your business without a plan and knowing you will have the cash on hand to pay for the growth.


Book of the Month

Are you selling something or persuading the customer? With your employees are you repeatedly telling that employee or are you persuading them to excel?

 

Influence: The Psychology of Persuasion by Robert Ciaidini is our suggested book for March 2026. Most definitely an appropriate read.

All this plus the Internet Tool for Your Business and a staff incentive idea for your business.

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

Every time I see the logo for Target stores, I think about small businesses and the need to know which people to target as their customers. Of course, of most importance is the person who has spent any money with your business.

 

I ask businesses if they know how much the average person spends with their business. Most offer a quick response with a dollar amount. That answer is incorrect as they are telling me what the average existing customer is spending. The average person in any community spends no money with that small business.

 

Looking for new customers without any plan of how to do so is just spending money. That is why every small business needs to know how to find and use information. Find ideas in the March Small Business Advisory.

Small Business

News

 

Top Story

Employee retention; is it important? Or is it easier to lose an employee and wait for the next applicant to walk in the door? The Small Business News for March shares some statistics of the expense you incur when you make the change instead of working to retain a current employee.


Article of the Month

It is baseball season and we use the sport as an explanation of the cost of growing your business. In Boston's Fenway Park, left field has a wall that is know as the green monster.

 

And that is what growing your business is - a monster! You can't successfully grow your business without a plan and knowing you will have the cash on hand to pay for the growth.


Book of the Month

Are you selling something or persuading the customer? With your employees are you repeatedly telling that employee or are you persuading them to excel?

 

Influence: The Psychology of Persuasion by Robert Ciaidini is our suggested book for March 2026. Most definitely an appropriate read.

 

All this plus the Internet Tool for Your Business and a staff incentive idea for your business.