Crafting a price increase notice: 6 ways to tell your clients
To start, here's a little price increase notice sample. I then follow it up with 6 ways to how to tell clients you're raising your prices below: Dear John (your client's name is John, right?); How are you doing? We used to be so close. Lately there's been some distance between us; I just want to make sure that, from your end, everything is still good. I mean, the work we've done together has been nothing short of terrific. I'm so grateful for the opportunity to work with you and your team! The challenges that your assignments provide have kept me at the top of my game; and you have always been appreciative of my team's long hours, late nights, and responsiveness to last minute … [Read more...]
My advice to this year’s graduates…
I just completed a week where I spent 8 hours sitting through commencement ceremonies. That’s not a typo. Two of my daughters graduated, and between both ceremonies I listened to a total of 4200 graduate names read. In other news, I’m sunburned. I also heard —— several times —— the clarion call to graduates, the charge to “change the world”, "make a difference”, and other such nonsense. It got me thinking. What advice would I want to give to this year’s high school and college graduates? Join me as I indulge this fantasy (and feel free to share your own thoughts for 2017 graduates!)… ‘Congratulations graduates, school’s out! You’re done! Finished! It’s over. That feels good … [Read more...]
Where’s your focus?
I’m talking to my daughter about her research project, something that’s really important to her, but that I don’t totally understand. I want to listen carefully to see if I can make heads or tails of it. Suddenly I realized she’s stopped talking and I’ve been thinking about how I haven’t written an article for this month’s newsletter… Busted. Here I was trying to listen carefully to an important conversation when suddenly I realize that I’m a million miles away. How does that happen? Or I sit down to write an important proposal when I notice that an email has come in. I stop to check it, then I respond to that email; then another. Soon I’ve spent 10 minutes in email 15 minutes looking a … [Read more...]
You know they need to be fired, but you just don’t want to…
I had a client say something to me last week that stopped me in my tracks. She said: “The best time to fire someone is the first time you think of it. Once you’ve said to yourself, ‘I’m going to have to fire that person,’ it’s time to do it. That day!” When I heard her say that, I recalled all the times in my life when I’ve thought: "I’m going to have to fire that person”; and then I reviewed what happened next. The dread of doing their work After thinking “I’m going to have to fire that person,” my very next thought is “but if I do that, I’m going to have to do all their work". I hired someone because I have work that needs to be done. Even if this employee isn’t doing a great … [Read more...]
Grow your funnels to grow your business
Most business owners are familiar with their sales funnel—the accumulation of new business prospects that are in the process of choosing to buy from you (or not). The sales funnel is arguably the most important process that a growing business needs to track. How are we turning people who are “interested” in buying from us into people who are “actually” buying from us? (Or for bonus points, how do we apply our marketing efforts to people who are merely “interested" and turn them into buyers…?) The growth and success of your sales funnel drives the growth and success of your business. One of the most common misconceptions about the sales funnel is that it can be managed. We can be … [Read more...]
In a world of video, reading is still fundamental
I’m watching more, and more video. Video is engaging. It has personality. It fosters an easy sense of connection with people. Its a great way to learn AND be entertained. Podcasts are also great (hey, I’ve got one, how can I diss ’em?). I learn a lot from podcasts; and they’re so convenient. I can learn while I drive or workout! Videos and podcasts have some downsides though. I don’t always know what is going to be in them before I listen. Though I generally trust the creator behind them, I have found that the information delivered in these media is not always as relevant (or engaging) as I would like. Videos and podcasts are mostly recorded “live” which makes them fresh and authentic; … [Read more...]
Community is better than control
A small business is the sum of its people, not the sum of its parts. ~ Jill Salzman Small business ownership can make the best of us act a little weird. Put any normal person into a situation where there are lots of terrible things that can happen (many of which can get you sued, or worse), and where most of those “things” are in areas where you have no real knowledge or training (and neither does anyone who works for you) and see how they respond. Yeah, it can make you a little paranoid; a little controlling even. But owning a business also puts you into a bind. Either you keep your business small (and likely drive yourself crazy working a lot of hours) or you hire people and grow. And … [Read more...]
How to grow your business (sooner or later)
Almost everybody wants their business to grow; and if you want your business to grow you are likely working hard. For some companies that success comes right away; first some good clients, then some more, then… For others it comes more slowly—sometimes excruciatingly slowly. This can be a huge challenge. We live in an “instant” world. If something isn’t growing immediately—if we can’t see how it’s "blowing up”— then maybe we should just move on. Even if your business is growing (and especially if it’s growing more slowly) you are likely full of questions. What do I do? Do I give up? Do I just keep going? Is there something I need to do differently? Was I crazy to have started this … [Read more...]
How to thrive in uncertainty and change
So 2016 has been a pretty solid year for Chicago economically. A lot of new jobs are being created, and interest rates remain low. If you've tried to hire this year, you likely had a hard time finding the right candidates. But what do we see coming in 2017? How will the change in administrations, historically low interest rates, and global trade pressures affect the economy—and your business? Honestly, I don't have confidence in anyone's predictions for the year we have in front of us—but I do know that it's going to look nothing like 2016! We have a President Elect who was voted in to "shake things up"(?); we have a cooperative congress and global trading partners who are pushing for … [Read more...]
How do you know that YOU are doing a good job?
As a business owner, we all have more than one job (many of us carry 4 or 5); but two of those jobs are the same for every business owner. The first is being a great leader in your business. Whether you are the CEO/President, or a partner who shares the leadership, one of your primary roles is to lead your business. As a leader, it’s my job to make sure that my business is pointed in the direction of new opportunity, that I have good people on my team, and that I’m making money. That’s what CEO’s do. But even CEO’s have bosses! And, if you are self-employed, then that means that you are your own boss. So every now and then you need to take off your CEO hat and put on your “investor” … [Read more...]
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