What Small Business Owners Need to Focus on for 2023
With 2022 shortly coming to an end, we as small business owners need to start putting our plan together for 2023 and beyond. As any good plan needs to start with looking at the conditions that we face for the next 12+ months, it’s time to look at those conditions and evaluate what strategies need to be emphasized to maximize our effectiveness. What worked in 2022 may not work in 2023 and beyond. However, it’s easy to get caught up in the concept of “Lather, rinse, and repeat” when things have gone well and believe that everything will stay basically the same. So, let’s look at 3 conditions I believe will happen in 2023 and your strategy to adapt to these conditions.
Health Success and Business Success – They go Together
Many years ago, I had a client I was working with. He was struggling big time and could never seem to get on track. He started missing coaching sessions due to his multiple health ailments (most of them self-induced) so I gave him an ultimation; “You need to work on your health before we continue any coaching program. I won’t let you throw away good money if you can’t implement the program.” I never saw him again.
So, I’m driving on my way into the office today and I see a van on I-90 approaching downtown Spokane. It’s a Security Company I’m not familiar with and the tagline on the van says, “We make it happen.” What?! Make “what” happen? What a totally confusing and disjointed slogan.
Here are some other bad business slogans that have been put out there:
Your convictions are what drive you. Each one of us has a deep-seated values system that points us in the right direction. What you need to have with those convictions is courage. Courage to take a chance on something. Courage to make a hard decision. Courage to make an investment of your time, money, and resources with no guarantee of success.
Take your deep seated convictions, and add a large dose of courage for you to overcome any challenge in your business and in your life.
An organizational chart can have a profound impact on a small business more so than any other development step. An organizational chart should be developed around functions, not personalities. You want to develop something long lasting. It identifies who is accountable for what.
Previously I wrote about a client who had to fire an employee that was holding her business back. She was working 60-70 hours a week keeping the business afloat while her key employee was skating along and creating chaos in the team. It was a perfect example of a business owner making a sacrifice to keep her business running even as obvious solutions were being ignored...
Your Telephone System-What it Says About Your Company
I was reviewing my American Express statement yesterday when I saw some charges from a particular company that was never authorized. Conveniently, their 800 number was on the statement, so instead of immediately calling American Express to dispute the charges, I called their number to resolve this issue. However, I was forced to go through a labyrinth of options, and in the end, I was told that their customer services reps were too busy, and that if I left a message they would call by the end of the day. I left a message. They never called back. Needless to say, now they have American Express deal with, and they don’t play as nice as I do.
I finished reading Oversubscribed by Daniel Priestly. In the book he talks about being a “Key Person of Influence” and the concept that, in many cases, a personal brand is much more powerful than a generic brand. This means that if you are a business owner and you want to grow your business you will need to promote yourself and “Be” the brand of your business.
The Gold Mine You Are Missing in Your Dental Practice
Having worked with Dental Practice for 15 of the past 20 years in my coaching practice, I notice that many of them fail to exploit an obvious source of extra revenue that sits right under their proverbial noses.
3 Areas in Your Business That Stop You From Growing
It’s very rare that a business owner does not want to grow their business. Sure, some are resistant to growth as it scares them, but when I ask a business owner if they would like to double their profits over the next several years they always say “Yes.” That “Yes” involves growth. And yet so many business owners who want growth just can’t seem to push the needle forward, and their growth stalls out, or never happens...
Reactivation Goldmine – Getting Your Chiropractic Patients Back Under Care
A few years ago, I was working with a chiropractic clinic owner who was struggling to grow their clinic. They had developed some excellent patient lead generation strategies and were doing a decent job at attracting new patients. However, they just could not make the financial breakthrough they were seeking....
So, you are a business owner and you’ve had a successful business for the past number of years, but now it seems like things have slowed down. You are not getting enough new customers in your business, and your current customers are just not coming back as often as you would like. You tell yourself “Maybe the economy is slowing down” and yes, you are partially correct. But it’s more likely that you are the cause of your business slow-down. Here are 5 reasons that you may be losing business.
Chiropractors, Are You Measuring Multiple Conversation Rates?
I’m working with a Chiropractor who is using Facebook ads to help boost their number of leads coming into the clinic. In looking at their numbers we quickly figured out that the costs per new patient, although high, was acceptable. However, it was quickly apparent that the large number of leads they were getting was not resulting in a significant growth of new patients. When I looked at their data, I could see how many appointments they were getting from the leads, and how many new patients, but nothing else. What about the conversation rate from lead to direct contact?
You’re a business owner and one of your best employees comes into your office to submit their 2-week notice. Your thought is “Here we go again” as this isn’t the first time this has happened in very recent history. Immediately you think to yourself “What is going on with employees these days, maybe Millennials and Gen Z types just are not as loyal and hard-working as us Baby Boomers and Gen X’ers.”...
In your business, your prospects are asking you, “What does your service or product cost?” They have two good reasons: 1) They don't know what else to ask, and 2) they want to know if they can afford your service or your product. Our business is the same.
You started your business several years ago, and it was growing for a while. However, over the past number of years it has plateaued, and you just don’t know why you can’t get your business to expand beyond where you have it now. So, what is the problem? Here are 5 reasons why your business may not be growing at the rate you believe it should grow.
7 Best Ways to Grow Profits in Your Dental Practice
In our book How to Create a Healthy Dental Business, Dr. Traci Lennemann and I outline a comprehensive process on how to overcome pressing challenges you may have in your dental practice. However, if the main thing you want to accomplish is additional profits in your dental business in a post-Covid world, let’s look at the 7 best ways you can grow the profits in your dental business.
7 Best Ways to Increase Profitability in Your Chiropractic Office in a Post Covid World
It must feel great that you now can have patients enter your clinic without masks (if you so choose) and not feel like you are either spreading infection around or waiting for the State Department of Health to write you a ticket and potentially shut you down.
After 14 plus years of Business Coaching and evaluating literally thousands of businesses, I have been witness to some of the most insane things that business owners have done that turn a business from a semi-successful enterprise into one that...
The Peter Principle tells us that a person will rise to their level of incompetence. This may be true in all sorts of endeavors. However most individuals, when they reach this level, will willingly ask for assistance or will be demoted or...
Is Your Head Trash Putting you into the Business Emergency Room?
In my book ‘First Aid For a Wounded Business,’ I address many of the causes and cures for a business that is in serious trouble and needs to be saved. Many of the problems are financial related, others are customer service related, and others are ...