Staying in the game

Top habits of successful business owners

By Frank Pizzo

 

We’ve all read the popular bestseller that identifies the top traits of successful managers. I decided it was time to drill down and provide some insight into the most effective attributes of successful independent business owners. They’re a unique breed accustomed to working from a mobile office, solving customer service issues and managing a growing staff. What keeps them in the game? Here’s what I’ve observed:

Knowledge seekers

In our world, information is king! And with access to the internet, finding information is quick and easy. For those without access to the web, you’ll do it the old-fashioned way and simply ask questions. The successful business owners know that most people love to talk about what they know – you just need to ask the more questions.

Build Alliances:

Creating strong relationship with your suppliers and resource groups will always open doors to new opportunities. Seek out companies that are the cutting edge and are implementing innovation within their product groups. These alliances will afford you inside information and the ability to foresee industry changes FIRST, before your competition.

Problem solvers

Albert Einstein once said, “It’s not that I’m smarter, it’s just that I stay with problems longer.” Persistence pays off. When most are giving up and going on to something else, the successful business owners relentlessly pursues the task at hand and does what it takes to get the job done.

Sense of timing

Sometimes by accident, good things happen to good people. For instance, when a business owner finds a niche market for a new product, he earns from it as long as he can.

Honest and direct approach

Massaging the facts does not get the job done; it simply misrepresents the situation. Those business owners who tell it straight will usually earn the respect of their customer. If you’re honest, at least you’ll sleep at night.

Satisfies customer demands

Knowing your customers personal needs is mandatory in order to sell them your products. Equally important, know what turns off customers, such as deceptive advertising.

Strategic planners

A basic plan gets us to and from our route each day. A comprehensive plan of attack ensures the growth and longevity of a business. Successful business owners focus on new products, educate themselves daily on what’s new, network within their region and stay visible in the industry.

Find time for play and downtime

Business owners know when to work hard, but they enjoy letting loose. They know when to let off steam and they enjoy life to the fullest. When successful business owners drop their fishing lines in the water, they’re thinking of their next big “catch” and how to reel it in.

 

 

 

 3ICN

It’s Not About the Fancy Gadgets

By Frank Pizzo

 

How many times has your computer crashed, you received an e-mail with a virus, you miss a call on your cell phone because you’re out of range or you drop an important call or, the best one, you lost your Black Berry. We depend on these electronic devices to make us more efficient, and when they do not work properly or there is a blackout beyond our control, we freak out.

 

Yet we lose sight of the attributes that really make us successful – our skills and experiences that we call upon from within ourselves each day but never identify as such. Can you recognize these qualities that set you apart from the hum-drum pack?

 

Your personality -- All of these sayings: “Smile and dial,” “Wear your feelings on your sleeve” and “The man with two faces,” can describe your personality. I remember back in college taking several evaluation tests to determine my personality, and they never seemed accurate. Especially since we all answered the way we wanted to be, not the way we actually were. However, in order to be a successful business owner, one trait we all must have is to be “Outgoing.” This simply is the ability to “Bravely go where no one else has gone before.” Once mastered, the skill of boldly going forward to meet new customers is one that no one can ever take away from you.

 

Open-mindedness -- I have found that if one keeps an open mind, opportunities will follow. The universe is a vast place and filled with new opportunities, products and services all of which are available to you. My wife asked me recently, “What will you be doing in five years?” I told her the future is looking bright-- either retired or most likely since I am open minded, I told her, “The world is an oyster, and I will eat from it. Hopefully the meal will be bountiful in five years.”

 

Organization – This is usually a common thread among successful individuals, so keep a day-timer (sorry, you high-tech guys and gals, no Black Berry’s here). With a day-timer our lives can be calculated down to a minute. As a business person, your roles change throughout the day. Sometimes you’re the president, vice president, treasurer and secretary of your company, and you’re required to wear many hats. Keeping track of all you do is important to get through the day. In addition, if you find yourself overwhelmed with work, family, children, simply write things down in your day timer or even on a sticky pad; you’ll feel better.

 

Have fun: Work is a four letter word and it’s usually connected to the word “hard,” as in “Work was hard today.” But did you have fun? If you didn’t then you’re doing something wrong. Life is short and waiting until retirement to have fun is a limited concept since most of us will not retire until we have at least one foot in the grave.

Selling is not easy, that’s why only a few truly are successful at it. So, if sales are down, it’s time for you to do a self-assessment. Do you need to consider changing your job, your career and your routine or figure out why it’s not fun anymore? Take the time to analyze what you do best and areas that need improvement to meet your goals. Every day you wait you just become more pessimistic.

 

Planning -- Many of us want to believe that good things will last however, sometimes rainy days come.  So, considering this economy, what is your plan B? What you need to be doing now is using your innate skills to determine what other innovative products and services are available to you to add to your current product mix you sell already – remember the potato chip man also sells candy. “If it is not broke, don’t fix it” is an old adage that will guide us into our next 100 years. Remember that our forefathers before us survived without our sophisticated gadgets and so can we if we use the power within us.

 

 

4ICN

You’re Not an Island

 

By Frank Pizzo

 

Isolation from others in your industry will definitely result in creating a safe barrier and non-stressful environment, however to ensure long term success in any industry you need to “get in the game” and develop the necessary skills to interact on the main land called “Opportunity.”

For most – there seems to be just enough time to make ends meet, and for others it’s what the next greatest product to sell is? Like me you probably fall somewhere the middle. So all you need to do is stop coming up with the excuses like:

It’s not important,

I don’t have time,

I will wait until next year,

Send me the info to look at,

I already have the answers, or

I am not creative,

I am positive that if you use the below strategies you will not only get into the game, but more importantly be opened to a vast selection of new opportunities and earning potentials:

Early Birds Gets the Worm:

Reacting to change can’t be a slow process, your indecision or wait time, only gives extra time to your competition to move quicker – and they will because change creates new opportunities. Instead a reacting to new products in your stores be the first to put that new and interesting product in there – if it does not sell at least you tried and “Trying is half the battle.” I say that a lot to my three sons.

Breaking New Ground:

Increase your chances of being successful by reviewing and implementing products, which can deliver you a high margin. Your expenses are increasing everyday, so you need to sell more or make more per unit. I would rather sell less and make more per unit. So seek out products that provide more margin – Yes they are out there, do your research. Remember new opportunities are not going to drop in your lap – you need to seek them out.

Monitor Prices:

Prices will change! So do not wait for your suppliers to contact you with a price change – especially since they will not call when it goes down. Be pro-active by maintaining ongoing contact with your suppliers – so you can get ahead of changes up or preferably down. I am sure you would like to be able to react  early if this was going to occur  -- have you ever said how did they (the competition) know that was going to happen?

Make yourself Available:

Hard to reach suppliers are irritating, but hard to reach customers is death. If you are unable to answer your phone regularly – get an answering service for about $50 its like have your own 24/7 receptionist to screen your calls.

Solicit Ideas:

You may be the most intelligent person you know – but you actually do not know everything. Once you commit to asking for help, a wealth of free information will be avail to you. Especially since experts enjoy talking about what they know the trip is to learn from “Sponge Bob” and act like a sponge – absorb the information.

Keep Partners in the Loop:

You are only as strong as your weakest link – I am sure you have heard that before. If you are not communicating with your partners on what you are doing to increase sales or reduce expenses, you are in essence the weakest link.

Create a Company Image:

If I see one more, white business card with black raised letters I will scream! A corporate image or identity is actually less fearful then you may believe. Just go to you neighbor printer – not office supplier store – and select a package which will give you some color business cards, a letterhead and even a simple tri-fold brochure. For a few hundred dollars you can make your company look more modern and savvy. (Try www.VistaPrint.com)

Measure, Measure, Measure:

Measurement is critical to success – determine performance goals and develop a way to track you progress. You are your worst critic; so seek out an un-bias support group to help you evaluate your performance. This could be a family member, a church group member, your spouse or your best customer

A few years back I remember a commercial on TV coining the phrase “You got Game,” I would like to see more business owners be “In the Game.” This is your industry – it will live and die by your hand – not the hand of the suppliers. All the resources are your fingertips, all you need to do is get involved, and ask questions. Hopefully some the above strategies will assist you in “Getting in the Game.”