Mirror Test

Hopefully you are starting to unwind for a long weekend full of rest, relaxation and fun.  It is important to take advantage of Holidays to recharge the battery and have a little fun.  While relaxing take a little time to reflect on your business and apply the mirror test...

Hold up a mirror to your business and ask yourself if your work is an actual reflection of how the tasks should be completed at the maximum level of efficiency.  What do you see?

Are all assignments performed at the highest level of optimization or could you improve?  Do you perform all tasks the same way every time to ensure quality or do you skip steps?

Take some time this weekend to relax and check back Tuesday for the first step in optimizing your business!

Lead Groups

Are lead groups effective or do they effectively waste your time?  Let's take a look...

First let's distinguish lead groups from networking mixers.

• Lead groups:
• Are members only
• Have strict scheduled meetings
• some even have penalties if you miss a meeting
• Steep upfront membership fee
• Plus weekly, monthly or quarterly fees
• One person makes a 10 minute presentation
• Everyone else gets 45 seconds
• Only one profession per group
• Networking Mixers
• Open to public
• Randomly scheduled
• Pay one fee
• sometimes in advance but always available at the door
• Talk to as many people as you want for as long as you want
• Opportunity for multiple people in same business to attend

Now let's look at the advantages and disadvantages.  Do you want to market to the same group every week or meet new opportunities?  Do you want to choose when you attend without wasting money already invested or risking a fine?  Membership fees plus "food" fees or about $20 per event?  Besides most lead groups deteriorate into glorified social gatherings.  I honestly do not care if your 10 year son scored a goal at his soccer game- I am here to conduct business and make money.

My biggest issue with lead groups is only allowing one profession per group.    First, if someone in the group already offers your product or service you cannot.  In my case I was only able to market business valuations and forecasts but no new business consulting or anything to do with social media marketing or advertising.  What is the point if I can't market my entire business?  Second, you are required to market their business to your clients, friends and family.  Now this wouldn't be that big of a deal but what if the business you're recommending isn't the best?  Would you really put your reputation on the line recommending an inferior business to one of your clients?

Not all lead groups are a bust (even a broken clock is right twice a day) but I would focus on finding some solid networking mixers.

Impulse Buying 2.0

Smart financial management is a cornerstone of every successful business.  We want to make as much as possible while spending the least.  Many businesses are turning to cost saving strategies to compliment their other revenue streams.  First, always buy cheap.  Shop around and compare several competitors to find the best combination of quality, cost and other variables such as delivery time before opening up your wallet.  Second, only buy if you have to.  Just because it's on sale does not mean you need it.  You're not saving 25% on a new computer- you're paying 75% to replace a perfectly good computer.

Ask yourself...

• Does your business really need this?
• Or are you buying it because "it's a really good deal"?
• Does 50% off really mean 50% off
• Think Winn-Dixie BOGO
• Is this a reputable company?
• Or are they cheaper because they do subpar work?

Impulse Buying Tactics

Unfortunately more and more businesses are relying on impulse tactics to deceive consumers.  Case in point here is an article detailing an alleged BOGO scam by Winn Dixie.  The link to the article is below but in a nutshell they were first doubling the price of their chicken before offering it as BOGO.  Winn Dixie was charging $5.41 per pound with a slapped on BOGO sticker while competitors such as Wal-Mart ($2.49) and Publix ($2.99) were charging must less per pound.

Now apply this same thinking to your business.  Think about hidden costs, extra accessories required, maintenance, licensing, contracts and the other negatives impulse buying tries to hide.  Is that great new computer that was on sale sunken treasure or full of sunken costs?  Is that new iPhone worth switching carriers and a binding two year service agreement?

The best advice I can offer is to sleep on it, let the impulse to buy ware off and make an informed well-though out decision for your business instead of succumbing to impulse tactics on the spot.  Or as we say in the bay- Swim at your own risk...

Read the full story here: http://www.ocalapost.com/winn-dixie-buy-one-get-one-free-scam/

Businesseers

Tiburon Bay is a vicious business analysis sparing nothing for the faint hearted.  The Bay is for the most cutthroat Businesseers who do not fear taking chances and want to be the best.

But what exactly is a Businesseer?  Businesseers are focused, skilled, knowledgeable and motivated.  They are leaders that are not afraid to take chances and risk it all. When businessmen see a dead deal Businesseers create a solution. But most importantly Businesseers never take no for an answer.

Businesseers are predators that feast on unsuspecting businessman.  Are you predator or prey?