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Strategies To Win In 2010 By Tom Shay
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Strategies To Win In 2010 By Tom Shay

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Presentation by Tom Shay of Profits Plus outlining strategies for small businesses to implement during a challenging economy. …

Presentation by Tom Shay of Profits Plus outlining strategies for small businesses to implement during a challenging economy.

www.profitsplus.org

Published in Business , Technology
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  • Great advice thanks so much for also helping the community.

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  • 1. Tom Shay, CSP Certified Speaking Professional
  • 2. #1 • It’s in your head (and in the newspaper) • If it bleeds it leads. If it is gloom, we’ll find room. • Determine that it is you, and not the media that is going to decide what happens in your business.
  • 3. #2 • No one won a war by dying for his country, you win a war by.. • If another business is going to participate in a business downturn, help them participate • In a downturn, most businesses will retreat without any plan • They cut their staff, buying, advertising, and ‘hunker down’
  • 4. #3 • Never forget a customer, never let a customer forget you • Do you advertise? What’s wrong with the current customers? • The competition will always spend their effort looking for new ones with ‘item and price’ • 65% leave because of their perception that your business does not care
  • 5. #4 • Keeping the stone rolling is easier than getting it rolling again • Don’t stop advertising – with less advertising, they can more easily see your message • Change the media • Change the frequency
  • 6. #5 • It’s often a one way street • Think twice before you change your target customer • Think twice before you go for item and price • Higher income customers are usually less affected
  • 7. #6 • Luck has nothing to do with it – you get the glory and you get the blame • Challenging times require radical thinking and actions – ‘They say I’m extreme’ • Now is not the time to simply ‘ride it out’ (Sharper Image) • Make up your mind to act decidedly and take the consequences. No good is ever done in this world by hesitation. Thomas Henry Huxley
  • 8. #7 • Someday my prince will come • If it hasn’t worked for you yet, now is not the time to see if it will eventually start working. • If at first you don’t succeed, try again. But after that, quit! No sense being a damn fool about it. W.C. Fields
  • 9. #8 • What’s your gut feeling? • Deep down inside, what is your instinct telling you that you need to get rid of? To add? To change? • What are your employees telling you? Or, are you asking? • Not to decide is to decide
  • 10. #9 • If you don’t spend it, you don’t have to make it • Look for every expense possible to eliminate • Understand the difference in controllable and uncontrollable expenses; variable and fixed expenses • Try zero based budgeting
  • 11. #10 • You spend dollars, not percentages • You have to understand financials, use a projectionary cashflow plan • Profit is not ‘cash on hand’ • Your accountant cannot watch it for you
  • 12. The credit belongs to those people who are actually in the arena - who know the great enthusiasms , the great devotions to a worthy cause - Who at best, know the triumph of high achievement; And who, at worst, fail while daring greatly … So that their place shall never be with those cold and timid souls who know neither victory or defeat. Theodore Roosevelt
  • 13. Final Note • 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