The Purpose of Your Business

by Dr Greg Chapman

I often ask this question at my live events; “What is the purpose of your business?” and get a variety of interesting answers. Varying from helping my customers solve their problems with my ‘superior’ service, making the world a better place to the ubiquitous, make money.

I point out, that none of these possibly worthy goals is the purpose of your business. It might be the reason you went into business, but not its purpose.

Fundamentals of Debt Recovery in Small Business

by Wayne Davis

If you are not being paid for your work and the debt collectors are not having any luck collecting this debt, you may need to commence proceedings in Court to recover bad debts from a non-paying client.

This article explains the procedures and hits you with the realities of legal debt recovery.

Trust – The Small Business Secret Weapon?

by Dr Greg Chapman

One of the most potent weapons of big businesses is their ability to build a brand. A brand creates Top of Mind awareness that remains until you are ready to buy, building familiarity until it naturally becomes a safe choice. Which do would you trust more- a brand you have heard of, or one you have never heard of?

So how do you increase your prices?

Managing a Star Employee with an Attitude

by Dr Greg Chapman

In any business there are 4 types of employees. If you understand these types and their key attributes, how you manage them becomes much easier.

The first attribute is the person’s Ability. How capable are they in doing their job? They may have low ability, or be highly capable, with their ability (good or bad) recognised by others in your business.

The second attribute is their Attitude. This may vary from poor, just there for the pay cheque, to enthusiastic and willing to do whatever the job requires to make your business a success.

When we combine these attributes, we get a clearer picture of the employee and the management strategy for them. For those with a poor attitude and low ability, the solution is simple. These individuals appear unwilling to improve and they constantly disrupt the business causing problems for others to fix. If they are not removed from the business, the people who do the fixing will leave.

The Fifth Profit Driver – Increasing the Gross Profit per Sale

by Dr Greg Chapman

In an earlier article I described marketing system.The fifth of the Five Profit Drivers is Increasing the Gross Profit per Sale.

The easiest way to increase your Gross Profit per Sale is just to increase your prices. The beauty about this strategy is that the increase in price goes straight to the bottom line. A mere 10% increase in prices will double the net profit of most businesses.

Of course the reason most businesses don’t increase their prices is because they are concerned about losing sales, and if you just increase your prices without any other marketing, you will.

So how do you increase your prices?

How to build million dollar business relationships

by Dr Greg Chapman

The world’s best known marketing secret is Word-of-Mouth. To make this work for your business, you must build strong relationships with others so they will trust you and refer to you. Not just once, but over and over again. However, too many business owners treat this as a passive strategy.

In this expert interview, learn how to develop million dollar relationships for your business.

Removing the Biggest Bottleneck in Your Business

by Dr Greg Chapman

A bottleneck is where a logjam occurs, allowing only a trickle to pass through the neck to the other side. Bottlenecks result in missed opportunities and impose costs due to underutilised capacity. While this is well known, little is done about the biggest bottleneck of them all.

Ad of the Month – US Election Bonus

by Dr Greg Chapman

No doubt you have seen many negative ads from the US election campaigns. Mostly negative, because fear works in politics. Not so much in business. Slagging off your competition is viewed poorly in business, for two reasons. You mention your competition, and secondly, you miss an opportunity to say something positive about yourself, which make people ask the question, ok the competition is bad, but are you any better?
Here is an election ad that is not negative, and will even make you smile.