Selected CEO comments shared each month at recent The Alternative Board meetings across greater Charlotte and the U.S. Investing in Yourself.
Our businesses, especially in these times, keep us on our toes. We are on the go constantly and, at the end of the day, get home to family exhausted! It is important to invest time in yourself. Get away for a weekend or a day and just relax. Visit friends, do some sporting activity, walk on a beach, whatever! Regardless, when you come back you will be re-energized and look at your world in a different light. ~Jeff R., Charlotte, N.C.
Too Many Inquiries?
Are you receiving lots of inquiries with potential customers? Are they qualified? While sales is a numbers game, you need to make sure you remain focused on your core competencies. If you are spending too much time on prospects that aren’t qualified, then your marketing process isn’t doing its job. Disqualifying a prospect is invaluable. Make sure your Web site and other marketing materials are very clear about “who” you work with. ~Bonnie K. Golden, Colo.
Help Your Accounts Receivable and Keep Customers in Business
As we keep tight control on our accounts receivable, we noted several customers stretching (and some exceeding) credit limits. We decided it was important to get control of those customers’ accounts, but also wanted to help them stay in business. We met with each, explained the situation and told them that we would like to continue working with them, but would need to bill them weekly and they must remain current. We e-mailed the bill to them on Monday and they paid by noon on Tuesday. The results so far have been great—everyone is paying on time, some have increased their purchases, and one even has thanked us! ~Trace B. Fond du Lac, Wis.
Would Your Absence Post a Threat to your Business?
One of my business success factors is the ability to leave my business behind for a month and expect it to function the same or better. This includes managing unexpected life events. A close relative or even you can become seriously ill and need to be absent from day-to-day business. How ready is your business for that? Do you have the right people and processes in place to handle such a situation? Or will your business derail when the first toner cartridge is out of ink? It is something you should work on; it may take months or years to achieve. It is crucial to keep in mind as a successful business owner. ~Dharma A., Aurora, Colo.
Jeff Raynor, Certified TAB Facilitator and Strategic Business Leadership Coach, heads TAB Carolinas, part of The Alternative Board—a global, small business CEO-peer group and executive coaching firm. Contact him at 704-554-6200 or visit www.TABCarolinas.com.