Marketing and Advertising – An Expense or an Investment?

By Action Coach Dave Beam

Most of the business owners that I speak with tell me that the majority of advertising and marketing is largely a waste of money.  They advertise out of fear, feeling like they need to at least keep their name out there.  They usually have a sense that most of their new customers are coming in from word-of-mouth, and that the advertising that they buy is probably not effective.  As a result, most small businesses are reluctant to advertise and try to minimize their marketing expense.

How to Create a Marketing Plan that Works! (Part 1 of 4)

By Action Coach Dave Beam

I am going to do a four part series starting with this newsletter on how to create a marketing plan that works.  This is actually pulled from the marketing module of "BusinessRICH" our premier 2-day paid training. All that to say this is fantastic stuff!

The first key point in creating a great marketing plan is asking the most effective questions in the right order.  Most business owners, barraged by advertising representatives, believe that the most important issue in marketing is the how.  Should I use TV, radio, newspaper, website, internet, flyers, direct mail, etc. etc.  If so, which paper, which flyer, which ball team, which charity, new business cards and on and on it goes. Although these are legitimate questions, they are not the first questions that need to be asked.  The “how am I going to do it” is one of the last questions to answer.

Profit Break-Even - Part 2

By Action Coach Dave Beam

Last week we considered the number one financial mastery issue, cashflow.  It is essential for you to understand the flow of money in and through and out of your business.  For some businesses, this can even be a daily issue.  Positive cashflow (more money coming in than going out) is essential to keep the business going.

Juggling Elephants - “Comments on a book by Jones Loflin and Todd Musig”

By Action Business Coach Dave Beam

I read a book this weekend that really helped me simplify the concept of goal setting and priorities.  The book is “Juggling Elephants” by Jones Loflin and Todd Musig. 

It was a refreshing follow up from another book I am listening to by David Allen, called “Making It All Work” (a sequel to his classic “Getting Things Done”).  Mr. Allen definitely has the most comprehensive system for organizing life and business that I have ever found.  I have been using several of his concepts for myself and also a few clients with some wonderful results.

Your Customer 4-H Club

by ActionCOACH David Beam

Here's a way to help you think about the Action concept of A,B,C,D customers.

Your customers are members of your 4-H Club; Hilarious, Happy, Hassle, Horrible

A (Awesome) customers are Hilarious

B (Basic) customers are Happy

C (Can’t Deal With) customers are a Hassle

And D (Dead) customers are Horrible

Think carefully about your customers. Typically about 10-15% are horrible and drain the money and energy from you and your business, and 10-20% are hilarious and are a sheer delight to work with and serve. The other 65-85 % are either basically happy or a hassle.

Quit Wrestling and Take Some Dance Lessons!

By Action Business Coach Dave Beam

Greetings fellow Business Owners and Managers! Today I want to suggest an alternate to wrestling with employees – dancing!

Let’s compare wrestling and dancing. Both require energy. Both typically involve two people. Both involve close contact.

Looking for Opportunity in a Challenged Economy

by Action Coach Dave Beam

Just like the seasons of the year, the economy cycles. It appears that we are headed for a heavy economic winter season. Winter is not bad. It just requires preparation and an appropriate response to make it good. In fact, if you are a child, you look forward to the fun that comes with the change of season. A fundamental principle for facing any challenge is to understand that circumstances are neither good nor bad. It is your response to circumstance that turns that circumstance into a fun adventure or a devastating disappointment. It is essential, especially in challenging times, to be ready to create, change, and innovate. People who are filled with fear, worry, and distress are not in a creative frame of mind. Remember that spring will eventually come, and how you respond in winter will prepare you to plant in the spring.

Help To Recession-Proof Your Small Business

Help To Recession-Proof Your Small Business

by ActionCOACH David Beam

The ‘doom-and-gloom’ crowd is out in force these days. Whether you believe their warnings or prefer to embrace optimism, a prudent business owner should take steps to recession-proof the company in these uncertain times. The key is to take positive steps to acquire and retain market share.

Small-to-medium sized businesses can survive a recession, if they act early while customers have still not committed to other vendors. Securing revenue during a recession is no different than any other time. The company simply needs to increase its marketing effort and scope to reach more customers.