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Start Small But Start Now

What gets in your way? What keeps you from taking the next steps in your business?  How many times have you decided on a new direction for your company or department? And how many times have you actually made those changes?

business growth

It’s easy get caught up in the daily tasks that keep your doors open — because these are the actions that feed you. But what about the actions that’ll grow your company and eventually add to your bottom line? How do you juggle what has to be done right now and the strategy work that’ll move your forward?

Start Small But Start Now 

You don’t have to stop everything in order to start something new. Take a few minutes.  Work on this new addition to the company the first hour of the day. You can use that time to:

  1. Evaluate and mini-test your idea.
  2. Map out a plan for implementing it.
  3. Develop a price list for what it takes to start and maintain.
  4. Document the benefits and the estimated return on investment.

If you show up daily, that hour will turn into a plan that your team can help you execute. I have redesigned entire programs and small businesses using this strategy.

As You Walk Through the Steps… 

You’ll eventually need to pull in more of your team. You’ll also need to commit more time to get “it” set-up, launched and managed. But by then, your early morning work will reveal the benefits of moving forward. And that knowledge will give you confidence and momentum.  The real work comes in slowing yourself down long enough to think.

It’s Hard to Move a Business Forward

Especially without a coherent plan. It’s difficult to create an effective plan without some strategy time.  Time to sit with the idea, ride with it, talk about it and eventually test it and move forward.  The plan you create can save you on the backend. In fact, without this time you may never successfully launch the idea.

At this point in the year, the goal is to keep that New Year’s passion alive with simple, directed, daily steps. Even though you may have to start small to get some ideas off the ground, starting is the key.  Start small — but start now.


Business Growth Photo via Shutterstock

From Small Business Trends

Start Small But Start Now

View full post on Small Business News, Tips, Advice – Small Business Trends

The Complete Idiot’s Guide to Quickbooks: Give Your Accounting A Wise Start

Complete Idiot’s Guide to QuickbooksOk, which would you prefer doing?  Watching ESPN to see your baseball team prepare for opening day or trying to figure the last few expenses that will close your books?  Yes, the crack of a baseball bat can be more entertaining. But cracking open an accounting software does not have to be drudgery, even if accounting was not your personal strength.

One book that assures ease is The Complete Idiot’s Guide to Quickbooks by Barbara Harvie, an award winning author of small business software manuals. I received a review copy in the mail and felt the book has value beyond Quickbooks related questions.

Learn Accounting Essentials

It may be a bit disingenuous to say that this book covers the features of Quickbooks.  Hopefully, that is what you would expect from The Complete Idiot’s Guide to Quickbooks.  But as you look over the pages, you’ll find that the genie grants the wish. From setting up a company file in Chapter 1 to assigning sales taxes in Chapter 17, you’ll find what you need to manage the software correctly.

As I mentioned at the start, what makes this book valuable is how accounting is weaved into the explanations.  Again, disingenuous would be the word to use if this book didn’t explain accounting well.  But it does make this book useful for those business owners transitioning from other invoice Cloud services that have cropped up since Quickbooks was first introduced.  Services such as Freshbooks and Invoicera are excellent for solopreneurs and small businesses that must manage sales, but managing finances across several sales teams require a broad accounting application for quick organization and quicker results.

The accounting topics are well structured. Each topic illustrates how features have a certain value at a certain time.  Never knew what closing the books really meant?  Just turn to page 407 for an explanation.

Get Into the Habit of Nuanced Service for Customers

Harvie’s arrangement of explaining accounting terms and practices such as tracking inventory, accounts, and vendors reveals business basics that should be aware of throughout operations. You will also gain some of the nuances to help tailor to customer needs with meaningful accounting service. A segment on invoicing customers, for example, includes arranging for separate notice schedules between largest customer and smaller businesses that may need more personalized attention.  Such dynamics extend into each reporting, such as the pricing level, as Harvie explains:

“With price levels, Quickbooks lets your charge different prices for different customers. Each time you create an invoice, sales receipt, or credit memo for a particular customer, QuickBooks uses the price level associated with that customer to calculate the price for services, inventory, and noninventory items.”

Further text explains applying a discount, but you get the idea – adjusting customer service instead of one size fit all.

This is still a manual series, so it has the similar The Least You Should Know chapter endings like The Complete Idiot’s Guide to WordPress, but Harvie does provide some resources at book’s end. Most of the book addresses the Quickbooks Pro (PC edition), but you’ll read appropriate references for the Enterprise edition for segments such as inventory costing.

What Compliments The Complete Idiot’s Guide to Quickbooks

There are a number of articles and book reviews in Small Business Trends that may make for great reading alongside this guide.

You won’t be a CPA with this book, but you’ll improve the discussion you’d have with a CPA. The end result are better financial choices needed for your business. That can make the difference in reaching the economic playoffs – growing your earnings and your business as a result.

From Small Business Trends

The Complete Idiot’s Guide to Quickbooks: Give Your Accounting A Wise Start

View full post on Small Business News, Tips, Advice – Small Business Trends

The Lean Start Up by Eric Ries

The Lean StartThere’s a lot of waste in entrepreneurial efforts today. I should know; I wasted a lot. Wasted time. Wasted money. Wasted efforts. Finally, wasted dreams. The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses helps business owners see how to eliminate that waste and get to the essence of startups (tech and non-tech): getting a great product in the hands of your customers.

I learned of the book from an interview with the author on NPR (National Public Radio). The examples Eric intrigued me so much, that I ordered my own copy from Amazon. The author can be followed through twitter at @ericries. His website is Startup Lessons Learned.

Unlike some entrepreneurs, Eric Ries does not list his suggestions as a “color by numbers” book. His experiences are less a road map and more of a guideline that can be applied to any startup. His is a self described execution of the scientific method (Hooray for scientists and engineers!). The Lean StartUp company creates new products and services under conditions of extreme uncertainty. As you read the book, you’ll see how his methods are different than how most companies operate today. However, those differences will spur you on to read it and apply his principles

The Process Has Changed

Companies used to take years to manufacture products. Market research and development, factory construction, staffing and finally manufacturing. Startups (technology or otherwise) cannot operate in this slow, linear manner. They must be agile and operate in a constant “feedback loop.” The “Build-Measure -Learn” loop starts with this format:

  1. Have an IDEA and know how you will test it’s success. This is the foundation of your startup or company. In this step, the hypothesis is formed. Begin with the assumptions about the business. To whom will you market? What is your sales strategy? What will your finished product look like? Lots of people come up with good ideas. By reading this book, and following the process, business owners can learn what to do next.
  2. Build an MVP (minimal viable product). This is the PRODUCT or service that you can show your customers and get in their hands. As the author notes, prototypes or examples can be developed quickly and cheaply. Small batch production can be changed much more quickly than large scale production. More than a prototype, the benefit to the business owner is the MVP will be shown and sold to potential customers and it’s success will be measurable.
  3. MEASURE the results of the MVP using previously agreed upon data. This step is not just “Did it work?” You must be able to measure how well it did or did not meet your objectives. When business owners measure the success of their product or service, they will be able to decide if they should pivot (change the course of their actions) or preserve (keep doing what they are doing).
  4. As with all experiments, the next step is evaluation: what did you LEARN. As all researchers (and entrepreneurs) know, the knowledge gained is more valuable than dollars or press mentions. Because this is a circular process, LEARNING leads directly to IDEAS and the process continues. The business owners ideas are going to come from two sources: brand new, fresh ideas or the learning of the current project.

Although the BUILD-MESURE-LEARN process seem like it may take longer up front, it actually shortens the total time necessary for production and process improvement.

Why Read It

“Failure is a prerequisite to learning.” Failure, however, is not a stopping point. Failure is the beginning of the learning process. Failure tells you what you need to fix to reengineer and continue (pivot or preserve). Eric Ries uses examples of why his proposal works: Dropbox, GroupOn, Kodak and Intuit are small and large companies that have used this innovation model to change how companies manufacture goods and services.

The Lean StartUp model can be applied to beginning or existing companies – regardless of size. The best part about the model: it is circular. It is a never ending process. The engineer gets a product that is continuously improving (never perfect). The managers get a product to the customers (i.e. – start making revenue). Customers are part of the process and can directly offer feedback to the company. Read the book and learn how to improve your start up.

From Small Business Trends

The Lean Start Up by Eric Ries

View full post on Small Business News, Tips, Advice – Small Business Trends

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Start Your Engines and Read the “Roadmap to Revenue”

Roadmap to RevenueNow that we are solidly into 2012, it’s time to stop dreaming and start doing.  One of my business resolutions was to create product and service offerings that are rooted in targeting my ideal customer, what’s important to them when they are buying what I’m selling and then developing an offer that is structured for exactly how they want to buy.

Over the last few years, I’d done a decent job of targeting my customers and understanding what was important to them, but I’ve never really created an offer around exactly how they want to buy.  I’m not going to kid you – it’s been a challenging process that’s involved daily quiet sessions picking through my brain, observing my customers’ behavior and trying to parse out exactly what’s going to resonate with them.

The Universe must have gotten wind of all these brainwaves because soon after making this commitment in my business, I received a review copy from the author of Roadmap to Revenue: How to Sell the Way Your Customers Want to Buy by Kristin Zhivago (@KristinZhivago).  And what’s really strange is that I was certain that I had passed the book on to another reviewer on the team and was kicking myself for not hanging onto it and then as I was looking for another book – THERE IT WAS!  That’s when the theme from the Twilight Zone started ringing in my head.  I was meant to read this book and share it with you.

The Culture has Firmly Moved Into a Customer-Driven Market

If you’ve taken any marketing classes or read any older marketing books, you might remember the standard history chapter on how the culture has moved from being manufacturing driven (build it and they will come) to being sales driven (sell it to them and they will buy) to being market driven (give them what they want) to being customer driven (know what the customer wants and how they want it).

Roadmap to Revenue is one of those books that will help you build your marketing strategy and system around creating a customer experience that just resonates so that your customers choose you.  This book would be a great follow-up book to the series we did that includes SNAP Selling, SHIFT and Selling to the C-Suite.

Let’s Take a Road Trip Around Roadmap to Revenue

One of my favorite aspects of this book is  the graphic inside the front cover.  I received a hard back review copy, so the summary map and graphic are easy to find, easy to read and serve as a terrific introduction to what’s coming up as well as a resources to double check my marketing efforts to make sure I’m going in the right direction.  (Don’t you just love the analogy?  It’s effortless.)

Roadmap to Revenue

Your journey starts at the Awakening Point where you DISCOVER what your customers want and figure out a way to make purchasing easier.  Then you move on to Resolution Junction where you DEBATE the differences between what they want and what you have to sell.  And finally you DEPLOY as you hit Lake Turnaround.  Here you map out the buying process and start moving toward “Revenue City!”

What Make Kristin Zhivago a Great Tour Guide on the Road to Revenue?

Kristin Zhivago is a “Revenue Coach” who helps CEOs and entrepremeurs make more money by understanding exactly what their customers want to buy from them – and how they want to buy it.  She’s been at this a long time.  She founded her company Zhivago Management Partners in 1979 and since then, she’s worked with companies such as IMB, Dow Jones and Johnson & Johnson.

What You’ll See Along The Roadmap to Revenue

Zhivago has some specific suggestions as to WHY and HOW we are actually standing in the way of our customers choosing us.  These start early in the book on pages 6 – 9.  I’d recommend spending some quality time with this list.  You might want to mark the ones you think you are guilty of so that you can focus on those in your marketing plans later.

And remember the model I told you about inside the front cover?  You’ll get into all the details in Chapter 2.  Chapters 3 – 5 get into the “what to do” of each phase of your road to revenue.  Chapters 6 – 12 really dig deep into understanding your customers and their buying process.

One powerful way of designing a marketing process around a customer is to create a “persona” of a real person.  Give them a name and describe their real world experiences as realistically as possible.  In Roadmap to Revenue you’ll meet Joe.

Zhivago breaks down this fictitious customers every move and every thought and then shows you how to think about your marketing messages so that Joe has an easy purchasing experience with you.

Who Will Get the Most Out of Roadmap to Revenue?

Small business owners – especially those who serve consumers such as retailers or consumer services providers will find a lot of great ideas in this book.

Sales and marketing managers will be able to identify their own “blocking” behaviors that keep customers from buying from them.

What To Look Out For on Your Trip Through the Book

There is a good possibility that you will pick up this book, read it and nod your head – but then do nothing.   While the book is absolutely loaded with information, and how-to advice, it stops short of feeding it to you.  After going through the book I went to the Kristin Zhivago web site to see what online resources were available for Roadmap to Revenue.  All I found was a page that described the book and how to buy it.  Then I went to the book jacket where I found Kristin Zhivago’s blog, Revenue Journal.  You’ll find lots of articles there – but no worksheets or templates or guidelines that I think would have made it easier for customers of this book to actually put these principles in action.

But don’t let this stop you.  If you’re ready to become a more customer-friendly business that makes it easy to buy from you, then this is a book that is right up your alley.

From Small Business Trends

Start Your Engines and Read the “Roadmap to Revenue”

View full post on Small Business News, Tips, Advice – Small Business Trends