Your new computer is out of date before you take it out of the box – are you keeping your business up to date?  In order to succeed, you must constantly update your business to meet the changing needs of the marketplace.  

Does your retirement plan consist of a piggy bank and a hammer?

The business with the lowest price wins—and then goes bankrupt.  You must give your customers reasons to do business with you other than price—reasons like better service or higher quality.  If you compete only on price—someone else will always be willing to sell for less.

 Hire great people—your employees represent you to your customers.  Hire only the best outside professionals as well—accountants, attorneys, and consultants.  They need not be the most expensive—but they should be the best.

 If you do not know where you are going, how will you know if you have arrived? You should have and use an effective business and marketing plan.  The plan must not be an expensive book end—it must provide you guidance that can be measured.  It should be reviewed against actual performance at least monthly and be updated annually without fail. 

Do you learn from other people’s mistakes?  There are only two kinds of people – those who learn from other’s mistakes and the other people.  Which type are you?

 Without customers you have no business!  Is your business customer friendly and focused on meeting the needs of your customers? 

You can’t sell a $2 hammer for a buck and expect to make up the difference on volume.  Do you know the real cost of each of your products or services? 

 Are you on the ‘Net?  The Internet will not solve your marketing problems but it is helpful for most businesses.

Know what level of sales you need to break-even?  In what direction are your sales going?

Spend all of your time solving problems?   Are you reinventing the wheel or have you checked to see how others have solved similar problems to yours?

Most small business have problems selling or marketing.  Do you know why people buy from you?  How about why they buy from your competition?

How can you improve your business?  What should you do first?  Second?  Third?  …?

Running out of cash is the biggest killer of small businesses.  What can you do to maximize your cash flow?

Uncle Sam wants your money?  What can you do to keep more of it?

What is the most profitable product or service?  What are you doing that costs you money?

How does your business compare to your competition?  What can you learn from a comparison to others in your industry?

Marketing means finding out what people want that you can deliver.  Selling means asking them to buy.  If you market well, selling will be much easier.

Don’t match some competitor’s desperation pricing—find an unfilled need in the market that you can meet.

Clearly define what you do and why you are different from your competition—then hammer this home with your existing and potential customers.  Solve people’s problems or help them achieve their dreams.

 Do you have a very limited product or service?  No one wants your eight tracks anymore.  Diversify or die! 

 Is your advertising dollar bringing you money or going down the drain?  How do you know?

 Seeing your CPA only at tax time?  Once a year isn’t enough!