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Characteristics Of A Successful Business By Tom Shay
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Characteristics Of A Successful Business By Tom Shay

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Tom Shay's 10 point outline of the traits of the most successful small businesses. www.profitsplus.org

Tom Shay's 10 point outline of the traits of the most successful small businesses. www.profitsplus.org

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Transcript

  • 1. Tom Shay, CSP Certified Speaking Professional
  • 2. The image of the business is clear to our customers
    • The identity of our business – bags, website, attire, shelving, building, advertising.
    • When a customer writes a check, do they ask who to make the check payable to?
    www.profitsplus.org 1
  • 3. Our business has identified the best customers
    • Are you selling 5/1 or 1/5?
    • Do you look outside the usual trade area?
    • Do you look for new services and products?
    www.profitsplus.org 2
  • 4. Technology is our friend
    • Point Of Sale
    • Department/fineline reports
    • Sales floor design
    • Merchandising
    • Staffing
    • Internet communication
    www.profitsplus.org 3
  • 5. Financials are a tool we use
    • Budgets
    • Cashflow plan
    • “ Open to buy” plan
    • Accountant that more than prepares
    • Banker
    • Mentor
    • Advisor
    • A long range plan
    www.profitsplus.org 4
  • 6. Advertising is not promoting
    • Advertising is trying to get rid of what you’ve got
    • Promoting is having what you can get rid of
    • Advertising is talking to the public
    • Promoting is talking to your customers
    • A budget, a plan, and a follow up
    www.profitsplus.org 5
  • 7. Work to improve the business
    • Attend trade shows and conferences
    • Attend seminars
    • Active in community and trade associations
    • Staff uses and completes a “to do” list
    www.profitsplus.org 6
  • 8. My staff is exceptional
    • Our employees are unique
    • Others sell products, we transform customers
    • Our employees make decisions
    www.profitsplus.org 7
  • 9. Self improvement
    • Is an optimist
    • Takes credit for successes and blame for failures
    • Has a “can do” attitude
    • Reads books
    • Stays focused
    • Executes plans
    www.profitsplus.org 8
  • 10. Having a personality that fits
    • Communication with staff
    • Appreciate and enjoy our customers
    • Appreciate and enjoy our staff
    • Yet, not responsible for everyone
    www.profitsplus.org 9
  • 11. Pace yourself
    • Does not settle for a one time achievement
    • Does not revel in “the good old days”
    • Does not try to get all of the work done in one day
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  • 12. The five star business
    • What is the sequence that you will establish for these ten areas?
    • What will be the three that you need to first direct your attention to?
    www.profitsplus.org
  • 13. I do not choose to be a common man. It is my right to be uncommon. If I can, I seek opportunity, not security. I do not wish to be a kept citizen ; humbled and dulled by having the state to look after me. I want to take the calculated risk, to dream and to build, to fail and to succeed. I refuse to barter incentives for a dole. I prefer the challenges of life to the guaranteed existence; the thrill of fulfillment to the state claim of utopia. I will not trade freedom for beneficence, nor my dignity for a handout. I will never cower before any master, nor bend to any threat. It is my heritage to stand erect, proud and unafraid to think and act for myself; To enjoy the benefits of my creations and to face the world bold and say: This, I have done. www.profitsplus.org
  • 14. Final Note www.profitsplus.org
    • This presentation will be specialized to your industry and your attendees’ specific needs.
    • For more information about having Tom present for you, contact us at (727)464-2182 or visit our website: www.profitsplus.org