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What It Takes To Become A 5 Star Business By Tom Shay
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What It Takes To Become A 5 Star Business By Tom Shay

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Tom Shay's interactive session that assist small business owners in determining the quality of the operation of their business. www.profitsplus.org

Tom Shay's interactive session that assist small business owners in determining the quality of the operation of their business. www.profitsplus.org

Published in: Business, Economy & Finance
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Transcript

  • 1. Tom Shay, CSP Certified Speaking Professional
  • 2. The magic of a Five Star Business
    • Hotel?
    • Automobile?
    • Restaurant?
    • What do you expect from a five star business?
    www.profitsplus.org
  • 3. What would you expect of a five star business?
    • Quality
    • Service
    • Competition
    • Profitability
    • Price
    www.profitsplus.org
  • 4. A 5 star business has an image
    • Does your business give a clear image to your customers?
    www.profitsplus.org 1
  • 5. The image of the business is clear to our customers
    • The identity of your business – bags, website, attire, shelving, displays, building, advertising.
    • When a customer writes a check, do they ask who to make the check payable to?
    www.profitsplus.org 1
  • 6. You might want to read:
    • Why We Buy by Paco Underhill
    • Stop Talking, Start Doing Retail Branding by John Torella
    • How many stars does your business rate?
    • What do you need to do? And what are your deadlines?
    www.profitsplus.org 1
  • 7. A 5 star business has a well defined marketing position
    • Do you know who your best customers are?
    www.profitsplus.org 2
  • 8. Our business has clearly 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 1 2
  • 9. You might want to read:
    • Marketing Warfare by Al Ries & Jack
    • Trout
    • Predatory Marketing by C. Britt Beemer
    • How many stars does your business rate?
    • What do you need to do? And what are your deadlines?
    www.profitsplus.org 1 2
  • 10. A 5 star business utilizes technology to the fullest
    • Your business is like a game – You want to do the necessary preparations so that the odds are in your favor
    www.profitsplus.org 3
  • 11. Technology is our friend
    • Point Of Sale
    • Department/fineline reports
    • Sales floor design
    • Merchandising
    • Staffing
    www.profitsplus.org 1 2 3
  • 12. You might want to read:
    • The Origin and Evolution of New Businesses by Amar V. Bhide
    • Internet Marketing for Less than $500 Year by Marcia Yudkin
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3
  • 13. A 5 star business has sound financial management plans & tools
    • There is no business like show business, but there are a lot of businesses like accounting.
    • - David Letterman
    www.profitsplus.org 4
  • 14. Financials are a tool we use
    • Budgets
    • Cashflow plan
    • “ Open to buy” plan
    • Using advice wisely
    • A long range plan
    www.profitsplus.org
    • Accountant
    • Banker
    • Mentor
    • Advisor
    1 2 3 4
  • 15. www.profitsplus.org
  • 16. You might want to read:
    • Effective Succession Planning by William J. Rothwell
    • EZ Cashflow by Tom Shay
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3 4
  • 17. A 5 star business promotes with a purpose
    • “ I know half of my advertising doesn’t work… I just don’t know which half that is!”
    • - John Wanamaker
    www.profitsplus.org 5
  • 18. Advertising is not promoting
    • Advertising is trying to get rid of what you’ve got.
    • Promoting is having what you can get rid of.
    • A budget, a plan, and a follow up
    www.profitsplus.org 1 2 3 4 5
  • 19. www.profitsplus.org
  • 20. You might want to read:
    • To Catch A Mouse Make A Noise
    • Like A Cheese by Lewis Kornfeld
    • Why People Buy Things They Don't Need by Pamela N. Danziger
    • How many stars does your business rate?
    • What do you need to do? And what are your deadlines?
    www.profitsplus.org 1 2 3 4 5
  • 21. The 5 star business is constantly being improved
    • “ Even if you are on the right track, you will get run over if you just stand there.”
    • - Will Rogers
    www.profitsplus.org 6
  • 22. Work to improve the business
    • Attend trade shows and conferences
    • Attend seminars with right attitude
    • Active in community and trade associations
    • Staff uses and completes a “to do” list
    www.profitsplus.org 1 2 3 4 5 6
  • 23. You might want to read:
    • Getting Everything You Can Out Of All You’ve Got by Jay Abraham
    • The 7 Habits of Highly Effective People by Stephen R. Covey
    • How many stars does your business rate?
    • What do you need to do? And what are your deadlines?
    www.profitsplus.org 1 2 3 4 5 6
  • 24. The 5 star business recognizes that a customer is the most valuable asset
    • Never forget a customer…
    • … never let a customer forget you!
    www.profitsplus.org 7
  • 25. My staff is exceptional
    • Employees are unique
    • Others sell products, we transform customers
    • Our employees make decisions
    • Our employees remember our customers
    www.profitsplus.org 1 2 3 4 5 6 7
  • 26. You might want to read:
    • The Experience Economy by B. Joseph Pine II & James H. Gilmore
    • Raving Fans by Ken Blanchard and Sheldon Bowles
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3 4 5 6 7
  • 27. The 5 Star Business owner/manager recognizes they are crucial for the success of the business
    • 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.
    www.profitsplus.org - Theodore Roosevelt 8
  • 28. 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 1 2 3 4 5 6 7 8
  • 29. www.profitsplus.org
  • 30. You might want to read:
    • The Process of Excelling by Roger E. Herman
    • The E Myth by Michael E. Gerber
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3 4 5 6 7 8
  • 31. The 5 Star Business owner/manager demonstrate how they are enjoying the business
    • “ Keep a smile on your face and all of the world will wonder what you are up to!”
    • - Snoopy
    www.profitsplus.org 9
  • 32. 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 1 2 3 4 5 6 7 8 9
  • 33. You might want to read:
    • The Fred Factor by Mark Sanborn
    • Fish! by Stephen Lundin, Harry Paul, and John Christensen
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3 4 5 6 7 8 9
  • 34. The 5 Star Business Owner/Manager knows how to go the distance www.profitsplus.org Nothing in the world can take the place of persistence. Talent will not; Nothing is more common than unsuccessful men with talent. Genius will not; Unrewarded genius is almost a proverb. Education will not; The world is full of educated derelicts. Persistence and determination alone are omnipotent. - Calvin Coolidge 10
  • 35. 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 1 2 3 4 5 6 7 8 9 10
  • 36. You might want to read:
    • Who Moved my Cheese? by Spencer Johnson, M.D.
    • Awaken the Giant Within by Anthony Robbins
    • How many stars does your business rate?
    • What do you need to do? And
    • what are your deadlines?
    www.profitsplus.org 1 2 3 4 5 6 7 8 9 10
  • 37. The five star business
    • Business improvement
    • Technology
    • Self improvement
    • Personality
    • Advertising/promoting
    www.profitsplus.org
    • Marketing
    • Finances
    • Branding
    • Staff
    • Pacing
  • 38. Setting the priorities for the 5 Star Business
    • Priority #1
    • Priority #2
    • Priority #3
    • Is it in the future for you?
    • The profit is in the stars for you!
    www.profitsplus.org
  • 39. Nothing in the world can take the place of persistence. Talent will not; Nothing is more common than unsuccessful men with talent. Genius will not; Unrewarded genius is almost a proverb. Education will not; The world is full of educated derelicts. Persistence and determination alone are omnipotent. www.profitsplus.org - Calvin Coolidge
  • 40. 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
    www.profitsplus.org

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