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August 2007 Archives

August 6, 2007


Light bulb moments occur at the strangest times.

I talked in a previous blog about a bar owner who changed his customers’ wine buying habits for the benefit of everyone and was considered pretty shrewd. But he couldn’t shake the feeling that he was doing something wrong when it came to food.

The owner made a commitment to having a lunch menu when he purchased the business. It was popular and he saw a lot of his evening customers during the day. Still when asked what he disliked the most about buying the bar he said “Lunch”. After a great deal of prodding by one of his friends familiar with the business he agreed to get out a calculator and find out if it was really worth the hassles.

He discovered he netted $15 a week for Monday – Friday lunches. That is not a typo. Three dollars a day.

State law requires that food is available in a bar. But it doesn’t mean a changing daily menu, table service and all the overhead that goes with it. So he is going to order food from a supplier that can be frozen and microwaved. Lunches will be phased out slowly because he feels an obligation to his employees but Monday lunch will stop immediately.

Ever blindly gone forward because of a previous commitment? Ever kept a commitment that hurt you because it was better for the employees or you thought you might be considered a failure? Ever felt the loss when a bank or vendor or customer broke its commitment to you?

Most of us have had the virtue of commitment drilled into us since we were small. It can be tremendously hard to overcome even when it hurts us. The good news is once you decide to make the hurting stop it happens right away. The better news? You’ll recognize the problem much faster next time and may even be able to avoid it altogether.

August 15, 2007

Why Hiring is a Crapshoot by Ruth King

How many times have you interviewed someone who looked great on paper, interviewed well, references checked out…and he failed miserably at the job?

According to Art Schoecke (www.datadome.com) hiring is a crapshoot unless you also include behavior assessments. For example, even if someone can technically do the job (as exhibited by his resume and references) does he LIKE doing the job? If he is good at it but hates it, he will ultimately fail.

You can measure intellectual ability, behavior styles, passions/motivations, and emotional intelligence. All of these factors are important in making sure that an interviewee fits both the job and your corporate culture.

People say that sales is sales. However, different sales situations require different skills. Is the person responsible for telephone sales and never sees a customer? Or, is the person responsible for visiting customers and generating sales person-to-person? These types of sales situations require different skills and motivations.

If you’d like more information, watch Art’s program on ibusinesschannel.com’s Ugly Truth about Business series (live each Monday at 10 AM Eastern time) (www.ibusinesschannel.com). Go to the "programs" segment of the website, scroll down to The Ugly Truth about Business, and click on Art’s program. It’s free!

And, Art has graciously agreed to give one survey per company. Simply email him at art@datadome.com. This will help you be better at hiring and improve your retention rate.

Surefire Ways To Drive Traffic To Your Site by Jennifer Colter

As most of us live, work and play online the demand for practical, Internet-based resources continues to grow. In other words, there are millions of eyes on the web every hour of every day searching for information, products or services designed to entertain, educate or just plain make life easier. So, with all the traffic on the web how does one drive it to their website—and by extension their business? After all, high traffic can result in increased customers and dollars for a company.

Being hip to the latest trends in internet marketing and advertising, coupled with a great product or service (a unique value proposition doesn’t hurt either) can do wonders for your bottom line and rapidly sweep you into the viral marketing cipher. Here at iBusinessChannel.com we’ve come up with a few tips that can help you shift those eyes to your business and hopefully create some gridlock on your website.

Try these tips and watch your stats grow:

• Enhance your existing website with up-to-date, useful and interesting information, display sharp and clean graphics, and have user-friendly functions for easy navigation by your visitors

• Develop strategic alliances with other companies and businesses and exchange links or ad space (allowing click-through) to increase visibility and create brand awareness. This is also known as affiliate marketing.

• Employ Search Engine Optimization (SEO) with your web developer. This is the process of improving the volume and quality of traffic to a web site from search engines via "natural" ("organic" or "algorithmic") search results. Usually, the earlier a site is presented in the search results or the higher it "ranks", the more searchers will visit that site. SEO can also target different kinds of searches: including image search, local search, and industry-specific vertical search engines. (Wikipedia)

• Hire an experienced and savvy media person to consistently write press releases and perform outreach to the print, web, tv and radio communities

• Spend time networking online at social and business sites (see our blog), and begin building relationships with other professionals. This is what viral marketing is all about!

• Blog! Blog! Blog! Oh…and blog! This is one of the most popular and effective means of online pavement beating that is proven to work. By setting up subscriptions to your blog, plastering your blog URL on all of your correspondence, visiting other blogs and posting comments, setting up a feed so your blog gets spidered regularly by search engine sites, and lastly, committing to blogging everyday are surefire ways to generating a buzz around your company.

August 28, 2007

What You Don’t Know by Victoria Kamm

I just interrupted someone’s train of thought and wasted her time. I really don’t like when that happens. My colleague didn’t sound annoyed but I know I would have been so I’m guessing she was.

I believe in picking up the phone and asking/answering questions especially if the other option is to write a lengthy and complicated email. That’s what I did this morning. What’s the problem? I could have found the answer myself in about ten seconds if I had simply looked on the iBusinessChannel website.

Experience isn’t necessarily helpful when you don’t know what you don’t know. I usually access information only when I need it. For example I had a cell phone problem recently. I needed to replace mine and realized when I walked in the store that I had no idea what models would be offered, price range, etc. I had to make a far faster decision than I would have liked and a little advance research would have helped.

I know we can’t be prepared for everything. We couldn’t function if we had to have all the information in advance of potential problems. Everyone knows someone who becomes paralyzed in the face of decision-making and wants to be 100% sure all the information has been considered. It’s maddening whether at work or at home.

We can help. Take a look through all the programming listed on the iBusinessChannel calendar. Check out shows you might not really have considered. You’ll be amazed at the information that will come in handy.

About August 2007

This page contains all entries posted to Profitability Channel in August 2007. They are listed from oldest to newest.

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