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9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
9 Steps For Creating The Best Odds For Success
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9 Steps For Creating The Best Odds For Success

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Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't, shares 9 steps that can help you to increase your odds for success. All business owners …

Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't, shares 9 steps that can help you to increase your odds for success. All business owners face the usual headaches and worries that come with the day-to-day business of "running a business". However, if you take a long hard look at a few critical pieces and put a plan in place right now, you can be much more prosperous .

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  • 1. Written by a successful businessman withfour decades of ownership experience, andpacked with valuable advice, The Facts ofBusiness Life presents every businessowner - whether he or she is starting,building, maintaining, or exiting a business -with the key facts that, applied together,can ensure a strong and lasting enterprise.The Facts of Business Lifeby Bill McBeanwww.factsofbusinesslife.com
  • 2. When you run a business, there are always some certainties as you lookinto the future. You know your best competitors will work to becomebetter. You know your customers will demand more. You know youllhave to work smarter and harder every day to improve your bottom line.However, if you take a long hard look at a few critical pieces and put aplan in place right now, you can be much more prosperous.Break down your planning into what you need to do internally -- withprocesses, employees, yourself, etc. -- and what you need to doexternally -- with customers, marketing campaigns, and so on. Here are9 steps that can help you to increase your odds for success.By Bill McBean9 Steps For Creating The Best Odds For Successwww.factsofbusinesslife.com
  • 3. By Bill McBeanwww.factsofbusinesslife.com1. Evaluate your leadershipIf you dont improve your leadership skills, there is little chance yourbusiness can improve. Being a great leader begins with a self-analysisof your leadership ability.Without effective leadership, your employees have no idea what isimportant, what to manage, or what success and failure look like. Inorder to have effective employees, your business first has to haveeffective leadership, and this starts with the owner.9 Steps For Creating The Best Odds For Success
  • 4. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success2. Do a top-to-bottom walk-through of yoursystems and proceduresIn essence, systems and procedures (processes) actually operate yourbusiness, though a lot of owners misunderstand this simple concept.Examine which processes are working, which need to be improved,and which processes are outdated and exist only because "its theway its always been done."In particular, look for inconsistencies in how employees handle tasks,especially those that directly impact customers and those thataffect the data you use to make decisions about the business.
  • 5. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success3. Kick off a cost-cutting, gross-profit-buildingmissionThis is a powerful weapon for an owner. In reality this is the mostpowerful 1-2 punch an owner can make on their bottom line and cashflow. Most owners look too cut costs first, because it’s the easiest ofthe 1- 2 punch to do. But, increasing gross profits can’t be ignored asgross profit is the life blood of any business and correlates to yourmarket and your businesses future. Don’t assume that you know howmuch things are costing you - including vendor pricing - or that youremployees are reacting to new sales opportunities, and or threatsto your market performance.
  • 6. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success4. Re-engage employeesTo motivate employee’s in this economy they have to be focused onattainable results and rewarded for consistently doing what you wantthem to do and focus on. Nothing beats a handshake with $20.00bucks in it and a thank you. Or, giving them some unexpected time offwith pay.And, for the owner to realize their role is to make your businessenvironment one in which success can be continually created.Meaning eliminating frustrations, proper training, and ‘cutting outemployee’s who are performing and have bad attitudes, to namejust a few motivation killers.
  • 7. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success5. Set some realistic, specific goals, get set up andready, and really go for itAim high but be specific. If your goals aren’t measurable, you wont beable to gauge your progress and eventually the goals you set won’tmatter to anyone. Setting realistic goals, putting a plan in place, androutinely checking the progress is one of the best way to besuccessful and make goals meaningful, if you aren’t willing to work forthe goals your employee’s won’t either.And if you take your focus off of improving your business, competitorswill step in and take what you have worked so hard for. Its justthe law of the marketplace jungle.
  • 8. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success6. Boost your product/service offeringsThe products and services you offer are the core of your business.Think about what you can do to squeeze out another product orservice offering with what you already have in place.And dont ignore the power of impulse purchases or convenienceitems, even if they are not matched up with your core products.Always be looking to make new and better offerings to yourcustomers. Doing so provides added value for your customer and foryou. A true win-win.
  • 9. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success7. Revamp your marketing campaignThink about who your customers are. Are you marketing to them in away that makes sense?It takes marketing to bring customers in and to keep them. Manycompanies see marketing as an expense, but its actually aninvestment and deserves your focused attention. And remember, yourattention should be focused on what products are selling, where yourcustomers go for information, who purchases your products, who arethe easiest customers to attract, and which products bring the mostgross profit.
  • 10. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success8. Find new ways to impress loyal customersFew things are as important as your customer base. Its essential thatyou find ways to protect yours by developing very loyal customers.You cant ignore the market and what your competitors are doing tokeep their customers, but the prize goes to the owners who becomemore creative and dont offer just the expected.It can even be as simple as posting a sign by your cash register askingcustomers to go to your website to register for prizes, or to sign up atthe point of sale - everyone likes to win something! This is where theterm think outside the box really applies because the only limitis your imagination.
  • 11. By Bill McBeanwww.factsofbusinesslife.com9 Steps For Creating The Best Odds For Success9. Get knowledgeable about economic/taxchanges and how theyll affect youThe slow-to-recover economy and the fiscal cliff debacle have taughtus the importance of staying one step ahead when it comes to theeconomy and how its going to affect your business.Be proactive and seek out a trusted financial advisor. He or she will beable to point you in the right direction and uncover ways to save. Askyour banker about your overall market, which industries are showingstrength, and which are struggling. This can give you a look into thefuture on what products may have increased demand and whichones may lag.
  • 12. Bill McBean spent many of his nearly forty years as asuccessful business owner in the automobile industry where,among many achievements, he purchased severalunderperforming and troubled dealerships and turned them intoa successful business enterprise. At the height of his successsales revenue had increased 10x. This attracted the world’slargest automotive retailer, AutoNation, which McBeaneventually sold to them. Since this sale McBean has beeninvolved in several new businesses, includingMcBean Partners,an investment and business mentoring company, and NetClaims Now, which provides administrative services andsupport to the restoration & emergency responders industry.The Facts of Business Life is available where books are sold!Amazon Barnes & NobleThe Facts of Business Lifeby Bill McBeanwww.factsofbusinesslife.com

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