Three Things You Must Do To Grow Your Business
“There is hardly anybody good for everything, and there is scarcely anybody who is absolutely good for nothing.” – Lord Chesterfield (Letters to His Son, Jan 2, 1748) To grow a business, there are three things you must do. First, develop a good, marketable product. Second, learn how to sell…
READ MOREGetting Out When The Going Is Good
“There are two fools in every market: one asks too little, one asks too much.” – Russian Proverb I was talking to my brother-in-law, RF, about stocks this afternoon. He was telling me about the beating he took in the market and his attempts to bring his portfolio up to…
READ MOREGetting Juvenile Employees To Grow Up
“The important thing is this: to be able at any moment to sacrifice what we are for what we could become.” – Charles Du Bos (Approximations, 1922-37) What do you do with a chronic complainer, an employee who is always dumping his problems on you? Please note: I’m not talking…
READ MOREIs Jack Welch Reading ETR?
“Call it what you will, incentives are the only way to make people work harder.” – Nikita Khrushchev Somebody at USA Today is reading ETR. Or so it seems. Recently, there was a story, on the front cover (surprisingly), on motivation. “There’s no proof,” the headline announced, “hot coals or…
READ MOREWhat To Do With Lost Customers
“A man without a smiling face must not open a shop.” – Chinese Proverb Next month, I’m opening up a Jiu Jitsu academy in the bay next door to my office. My teacher, Reylson Gracie, is going out to Las Vegas to start an academy there, so we agreed that…
READ MOREGreat Business Meetings Don’t Just Happen
“The leader must know, must know that he knows, and must be able to make it abudantly clear to those about him that he knows.” – Clarence B. Randall (Making Good in Management, 1964) It was said that Napoleon’s presence on the battlefield made “the difference of 40,000 men.” This…
READ MOREWhy You Should Trim Your Trees
If you employ or manage at least six people, you need to let one of them go every year or so. If you employ 30 or 40, you should be weaning three or four. Forget about those who quit. I’m talking about firing people. It may sound crazy in a…
READ MOREWhat Is A VIP Customer – And What Does He Want?
“Conspicuous consumption of valuable goods is a means of reputability to the gentleman of leisure.” – Thorstein Veblen (The Theory of the Leisure Class, 1899) I am a Miami Heat season-ticket holder. I have two seats. Each one costs me $150 per game. With 44 season games and playoffs,…
READ MORESeeds of Wealth
Dear Early Riser, What you are doing by honing your success skills — in my humble opinion — is the smartest thing you can do for yourself. The economy is faltering, and recession is upon us. Every businessman I know is working scared. Soon there will be cutbacks and layoffs.…
READ MOREThank Your Customers Over And Over Again
“Gratitude is the most exquisite form of courtesy.” – Jacques Maritain (Reflections on America, 1958) Most of our time is spent figuring out how to get new customers. But some of it must also be spent thinking about pleasing the ones we have. So, today, let’s spend a few minutes…
READ MORETaking The Long-Term, Big-Picture View
Yesterday, I had a conversation with DK, a fellow Miami Heat season-ticket holder and the president and CEO of a billion-dollar food-distribution business. DK is successful even by Boca Raton standards, but he’s also a laid-back, low-key guy — which marks him as an oddity among his more aggressive neighbors,…
READ MOREHow To Be A Successful Negotiator
Three elements are at play in a negotiation, according to James Sebenius (writing in the Harvard Business Review) who has done thousands and ought to know: 1. Issues are on the table for explicit agreement. 2. Positions are one party’s stands on the issues. 3. Interests are underlying concerns that…
READ MORE