Every employee needs a current, written job description. It is the most fundamental tool in any employer-employee relationship. Here at How to Write a Job Description you will discover:

The 7 Functions of a Job Description

and

The 5 Components of a Job Description

Discover for yourself How to Write a Job Description.

Monday is for Marketing

Has growth stalled in your business? Have you hit a plateau? Do you need some fast business growth? Here’s the first step: Design and implement an aggressive strategy to market to your current and past customers!

Yes, that’s right. Your first marketing priority should be to market to your current and past customers. Why? Because these are the people who have already chosen to do business with you and they are the ones who are most likely to do business with you in the future! This group represents your greatest opportunity for growth, and particularly fast growth!

As I’ve seen my clients catch this and start marketing to their customers they have experienced a return of 5% to 25% growth quickly! Plus, the investment to acquire this business is usually much lower. It typically costs 6-8 times more to attract a new customer than it does to keep an existing customer.

Look for ways to increase customer loyalty. Identify new needs that you can meet for them. Find additional ways to add value and then let them know that you want to serve them more!

Sometimes it is as simple as a phone call. Refresh or re-engage some of those relationships. Consider a new promotion to your customer base or a “VIP” promotion to select customers. Consider implementing an emarketing approach using one of the many tools available today (e.g. Constant Contact, Aweber, Chimp Mail, etc.) Launch a Social Media Marketing strategy just for your customers. Create a new Customer Appreciation Program to let them know how much you appreciate the opportunity to serve them.

There are dozens of ways to market to your customers. They represent one of the most valuable assets in your business today. Don’t neglect them.

Look for ways to improve or enhance customer service. Educate your customers on what you are doing to serve them better. Remember, marketing is education, so find new ways to educate your customers!

Once you acquire a customer hardest part is accomplished. Protect and nurture those relationships! They are the key to your future business growth!

Friday is for Friends

Today in our Friday is for Friends feature I welcome good friend Veronica Wasek, owner of VM Wasek CPA, LLC and a graduate of the Growth Coach program. She is a Certified Public Accountant, a Certified Advanced QuickBooks® ProAdvisor, and a Public Speaker. She specializes in helping strategic business owners manage and grow their businesses. Visit her website for free articles, resources, and to receive free monthly QuickBooks® tips.  Here are some great tips for all business owners!

Did you know that QuickBooks® is more than a bookkeeping software package? QuickBooks® is a very powerful small business tool you can use to save time and maximize profits. Here are 5 essential ways for strategic business owners to use QuickBooks®:

1. Get Valuable Information From QuickBooks® To Help You Run Your Business -
   There are 3 important keys to getting valuable information from QuickBooks®:
   
   • Customized set up – QuickBooks® must be set up properly so that it works effectively and so that you can get meaningful and useful reports.
   • Clean up the mess– If your QuickBooks® file is a mess you cannot rely on the data that is in your QuickBooks® file. Have it “cleaned up” by a professional and you will see how QuickBooks® can help you manage and grow your business.
   • Keep up with your bookkeeping on a regular basis – It is best to hire someone to do your bookkeeping so that you can free up your time and so that your accounting will be up-to-date. Remember, keeping your bookkeeping current allows you to get timely and useful reports to run your business.
2. Leverage Your Time And Financial Information – Use All The Features That QuickBooks® Has To Offer-Here are 2 essential features:
1. The Company Snapshot – with one click you can get an instant snapshot of how your company is doing. This is great for visual people.
2. You can attach and store documents in the Document Center for free. This is great if you’re not good a record keeping.
3. Here is a link to more powerful features available on QuickBooks Pro 2012.
3. Use QuickBooks® Reports To Track Your Financial Goals -
   How are your profits measuring up against your goals? You can find valuable reports in the QuickBooks® Report Center such as the Profit & Loss, Balance Sheet, and the A/R Aging Summary. QuickBooks® has many more reports available. Here’s a tip – play with the reports – you can’t damage anything.
4.  Use QuickBooks® To Save On Tax Preparation Costs And Get More Tax Deductions -
   Giving your tax preparer a messy set of books only causes your tax preparer to spend more time sorting through the mess and less time on preparing your tax return. That means higher fees and possibly missed tax deductions. With QuickBooks® properly set up and maintained, strategic business owners can provide their tax preparer with the reports and information needed on a timely basis. Using QuickBooks® properly, you can have your tax return done well before the deadline. Your tax preparer will love you!
5. Set Up Budgets and Track Results In QuickBooks -
   An annual budget is a must for every strategic business owner. QuickBooks® makes it easy to set up a budget and to track how you are doing throughout the year. Check out this link with instructions for setting up a budget in QuickBooks®.

Veronica Wasek, Certified Public Accountant and Certified Advanced QuickBooks® ProAdvisor: www.cpaondemand.net, email: veronica@cpaondemand.net.

Here is the transcript for today’s video blog from Houston business coach Glenn Smith:

We’re here with our Coaching Question of the Week, and here it is:

What limiting beliefs are holding you back? Think about that.

Many of us, until we stop and think about it, don’t think we have any limiting beliefs. But the truth is, we all have limiting beliefs. We need to stop and reflect on that so we can know what those limiting beliefs are. To help us do that, I have a chart I want to show you.

First, we all get certain results in our businesses, relationships, and lives. And those results come from our behaviors. Certain behaviors create the results we get. If we want different results, we have to engage in different behaviors.

The problem is, we engage in certain behaviors because we have a certain mindset. So to change our behaviors, we have to change our mindset. We have to think differently.

It is the limiting beliefs that prevent us from engaging in the behaviors that get us the improved or different results that we want.

One of my favorite quotes comes from Brian Tracy. Brian says this, he says, “Successful people simply practice successful habits.” In other words, successful people figure out, “What are those behaviors that lead to success?” And they repeat those behaviors until they become habits.

So successful people simply practice successful habits. But, to engage in those behaviors and develop those habits, we have to first think about, “What do we believe about our business, about our relationships, and about our ability to achieve? What is our mindset?”

So today, I want you to think about that question.

What limiting beliefs are holding you back from getting the results you truly want? Thank you for watching!

“Formulate and stamp indelibly on your mind a mental picture of yourself as succeeding. Hold this picture tenaciously. Never permit it to fade. Your mind will seek to develop the picture.”-Norman Vincent Peale

Without business systems in place, no one will want to pay a premium for your broken business.  They will not want to buy a dysfunctional business that is solely dependent upon you for its day-to-day operations and survival.

If it is obvious that you are a prisoner to your business, why would anyone want to buy into such a life sentence?   They would not, or they would pay very little for such a systems-deficient business.  Please grasp this:  No one wants to buy a job, a series of headaches, or an owner-centered and owner-dependent business. 

To maximize your company’s eventual selling price, realize that buyers want to acquire a smoothly running, money-generating machine.

Buyers want to purchase a business system that runs on near autopilot, foolproof status.  They want to buy a fully documented, organized business system that gets predictable results.  They want an asset that has proven processes, predictable revenue streams, and strong growth potential.  They want to buy a well-designed, hassle-free, cash flowing asset.

The more turnkey, self-managing, self-improving system you develop, the greater the value to a potential buyer.  If your business runs well without you being there every day, it will be worth gold to others.  And until the day you sell, don’t you want to own and manage the same type of well-designed, well-orchestrated business?

Be an architect.  Be a sculptor.  Think Big!  Be PROACTIVE and shape your business to truly be what you want it to be. Here are some more FREE resources to help you move in the direction of a turnkey business:

7 Steps to Prepare Your Business to Sell

7 Ways to Gain More Leverage and Work Less

As a business coach serving business owners in Sugar Land, Houston, and the Texas area, I help owners not only grow their businesses, but also create systems to make their businesses much more sellable. Here is a recent press release of one of our clients:  “Business Owner Reports 63% Growth; Is Approached to Buy His Business Systems.”

Monday is for Marketing

Today in our Monday is for Marketing feature I thought I would share a brief case study with you to show the power of not only business coaching, but also case studies. Case studies are a powerful marketing tool that tend to be greatly underutilized. Read this and be encouraged!

Company:  Croft Production Systems – The Impact of Developing a Strategic Mindset

Overview:  The company leases cutting edge natural gas dehydration equipment in addition to a wide range of production equipment, such as CO2 and H2S rejection. The owner felt he was swimming against the stream as he was working countless hours and did not have enough time to spend with his family.  He felt that the infrastructure of the company was not adequate.  Response to customer requests was slow and the company was not getting enough repeat business.

Business Growth Objective

• Improve customer service in order to increase repeat business
• Establish revenue goals and systematically review sales and conversion rates
• Develop a methodical approach to the sales and production processes
• Write an operations manual to eliminate gaps in the production process

Strategy

Strategic Initiative #1:  Develop systems that allow the business to operate without constant supervision of the owner

Strategic Initiative #2:  Focus on the direction and goals of the company rather than the day to day routine

Strategic Initiative #3:  Focus on people management skills, product quality, and marketing

Strategic Initiative #4:  View quality time for family and personal development as necessary to top performance

Results

• Operations manual has minimized or eliminated gaps in production and service
• Company has increased annual sales and production by 35%
• Owner has maintained clarity and vision while rapidly increasing production
• Owner has learned to prioritize and delegate activities so that he has more time

I hope you can see how business coaching has helped this business owner. I also hope you can see how powerful a good case study can be for marketing your business. As a business coach serving Sugar Land and the Houston area of Southeast Texas, it is my privilege to see owners achieve these types of results every month! Learn more about our Strategic Retreats and contact us for more information.

Back in 1986 I came across a new book entitled The E-Myth: Why Most Small Businesses Don’t Work and What to Do About It by Michael Gerber. I remember reading the book and thinking how “revolutionary” it was for owners of small businesses. I found myself going back to it from time to time to help me think strategically.

My wife and I both grew up in family-owned businesses and we were very appreciative of the struggles and opportunities of business ownership. So when I read E-Myth, it was like gold to me! However, I found myself needing to review it periodically because it was such a different mindset than I was use to. In 2001 the book was republished under the title The E-Myth Revisited; however, the content was relatively unchanged. By that time I had started and sold a business, started a consultancy, and started several non-profit organizations. Still today I go back and review it.

A few years ago I had the privilege of meeting Michael Gerber and spending some personal time with him. Just this past week I had the privilege of being with him again. He is an amazing man with amazing insight. His message was the same message he’s been preaching since beginning E-Myth in 1977.

Most small businesses are not started by entrepreneurs, but by technicians who suffer from an entrepreneurial seizure. Every business owner needs to ask him/herself, “What’s my business here to do?” Every business is here to find resolution, completion. We must have the mindset that I am creating a company to sell. I’m in business to create. My business is my creation, my product. If you’re truly and entrepreneur, you are a master of business design. Learn to spend more time working “on” your business and less time working “in” your business.

I could go on but you probably get the idea. According to Michael, great businesses are not built by genius, but by determination! Everyday the great business owners rise above the limitations that everyone else lives under!

Michael shared the 7 steps of business development that he wrote about in 1986, the 7 steps that he continues to teach today:

1. Know your primary aim in life.  Your business is an extension of YOU! It should serve you and your life goals. So you must know yourself. You must know your primary aim in life.
2. Define your strategic objective.  What do you want to get out of this business. This is typically things like money, freedom, opportunity, etc. Don’t loose sight of this!
3. Create your organizational chart.  This is the foundation of building a turnkey business. You must know what each role and function is in your business. You build your systems from this.
4. Develop your management system.  Every problem and every function in your business must be defined from the perspective of a system. Great business owners realize that they manage their businesses by managing their systems. This assures that the product will be consistent, predictable, and profitable.
5. Create your people development process.  You can’t really develop a training program until you have a system. Once you define and document your system, then you can create a training process to empower your people and enable them to succeed.l
6. Design your marketing system.  This is the key to success in every business. A business will not survive without marketing. You must have this!
7. Implement a comprehensive systems strategy.  Learn to see everything in your business as a system. Once everything is systematized, you can walk away from it. You can sell it. You can relax. You can do anything you want to do!

Every business coach (and business owner) today owes a deep sense of gratitude to Michael for opening the door to this conversation. It has been my privilege (and continues to be my privilege) to work with business owners in Sugar Land and the Houston area, helping them grow their businesses, create turnkey businesses that give them both time and money, and helping them create sellable businesses.

Friday is for Friends

This week in my Friday is for Friends feature I welcome a great friend, Brian Covault. Brian is the Founder and President of the Texas Community Referral Network. In this post he gives us some great tips about “Networking.” According to Brian, effective networking will give you a bigger piece of the pie! Read and enjoy!

Often people think networking is attending a function where others gather and they try to achieve an individual goal or task such as gaining a new client/customer or finding a new job.  They are generally focused more on themselves and less on who they are talking to.

These people attack networking from a point of selling “their” company or “their” personal accomplishments, and do so in a hasty manner.  However, the result they are looking for seldom is achieved.  Because of this, people on both fronts frequently are discouraged when it comes to networking. This does not have to be the case though.

Most networking takes place at a particular organized function where a variety of business professionals are gathered.  There is a common misconception where people associate networking as selling.  Networking is NOT selling.  Networking is a process of establishing and building relationships.  When done correctly networking can certainly have a profound impact on your business, but selling is not part of the networking process rather a result of effective networking.

The first step to effective networking is to be friendly and accessible to meeting others at the function you are attending.  You can’t stand off in the corner and expect everyone to come to you.  Although, you also do not want to speed through the room spending 20 seconds with every person you come in contact with and see how many of your cards you can hand out.  You do want to have plenty of cards on hand but make this less about you and more about the person you are meeting.

Introduce yourself, shake hands and engage with the person asking what they do and about their business…ask for their card.  When this is done, they will most likely in turn ask about you and your business as well as ask for your card.  As you find out about the other person and how you can possibly help them, they will intuitively reciprocate.

Focusing on the other person will obviously make them feel good and allows you to make a positive first impression (a whole other subject), which will have you stand out in the crowd (this is a good thing).  Don’t spend the entire event with the same person but be sure to engage in good conversation for at least five to ten minutes with each person you meet.  If you know someone else there, introduce that person to the individual you just met.  Repeat this process over the course of the event and set a goal of making about four or five good contacts.

The following day, drop a short email to each person you met at the event letting them know that you are happy you had a chance to meet and enjoyed learning about them and their company.  Mention that you will stay in touch, and reference that if you know someone that is in need of their product or service, that you will pass their name on.

Periodically drop an email and be sure to keep in touch with them.  As these new relationships strengthen, you heighten the reality of gaining opportunities to generate business through referrals or directly from the person you met.  Be patient and rely on the process.  In time, you will benefit from new business, but remember…this is a two way street.  The more you help others, the more you will get in return.

Don’t shy away from networking.  Don’t give up on it.  Networking can help your business tremendously but like all other aspects of business, a process exists.  When this process is followed, you will not only be able to assist others grow their business but you will continually have new opportunities to grow your business as well!

Here is our Coaching Question of the Week: What are you doing to improve your personal productivity?

Every business leader, and especially every business owner, needs to be thinking about how they can improve their personal productivity and the productivity of their management and leadership team.

What I want to give you today is what I call my 7 Step Daily Process for improving personal productivity. Here are the 7 steps:

1. Review  your Projects and Goals. 

This is not going to take a lot of time, in fact, this whole process will only take about 15 minutes. One of my friends actually refers to this as the 15 Magic Minutes every day. So, start by reviewing your projects and goals.

2. Review your Daily and Weekly Calendar.

When you look over your projects and goals and your calendar, you want to be thinking about what your priorities are what things you need to do.

3. Review your “Master” To-Do List

If you think of things you need to do in #1 and #2, add them to this list. I keep this in Microsoft Outlook, you can keep it anywhere. Keep this Master To-Do list so it’s not just in your head, it’s written down.

4. Identify your “Must Do Today” Tasks

I actually create a Must Do Today List. This is usually 3 or 4, maybe 5 things that I know, “Today, I must get these things done.”

5. Estimate a Time Required for each Task

Is this task going to take 10 minutes? 30 minutes? An hour? How much time does each task take? Then..

6. Schedule it on Your Calendar

Put in in your calendar just like an appointment, so you know, when that time comes in the day, that’s what you’re going to do. And at the end of the day, you’ll be sure to have those things done. Finally…

7. Review Your Affirmations

I did a blog post a while back that you can look at if you’re not sure what affirmations are. Everyday, review those affirmations, rehearse them, and say them back to yourself.

Practice this 7 Step Daily Process, and I promise you will improve your personal productivity. Thanks for watching.

Press Release, Spring 2012, Sugar Land (Houston), Texas

A local business owner reported 63% growth this year as a result of the Strategic Business Owners Program led by The Growth Coach Houston. While the rest of his industry reported losses, he was approached by a larger company expressing interest in possibly buying his business because of the internal systems that had been developed through the program.

The Growth Coach Houston led him, along with a small group of other business owners, in completing the 2-year Strategic Business Owners Program last month. All participants reported growth and increased revenues. This process enabled them to create a balanced life while making their businesses more valuable.

The Growth Coach Houston has a proven process that helps business owners by providing guidance, accountability, and resources, that drives them toward increasing the value of their business. This process also assists business owners to “work less and make more” by equipping them to create a system where the business is not primarily dependent on the owner, allowing them to live a more balanced life.

The Growth Coach Houston will begin a new Strategic Business Owners group on May 24th in the Fort Bend County Area. Any business owners interested in growing their business and a more balanced life can call (281) 841-6680 for more information.