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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

Published in: Business, Economy & Finance

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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
    www.profitsplus.org 10
  • 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

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