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Top 5 Tips for Finding Great Employees (cheaply!)by Stefan Töpfer on Feb 08, 2010
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Turbocharge Your Salesby Stefan Töpfer on Feb 03, 2010
With better economic conditions coming soon, there couldn’t be a better time to brush up on your sales skills. The recent downturn has made companies think twice about who they are dealing with and has made them potentially more likely to switch suppliers. Perhaps to your firm? Here are a few ideas to get you and your sales team fired up! Don’t give up on your bottom 80% Map out a sales plan Get the CEO some face time Listening vs. Boasting Be realistic on what you can deliver Top 5 Tips for Paying Yourselfby Stefan Töpfer on Feb 01, 2010
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Keeping Track and Keeping Up: Are You Focused?by Stefan Töpfer on Jan 26, 2010
It’s been a tough year for everyone. I’m guessing your team is leaner than it was only 12 months ago and each person is balancing a lot on their plate. As a result, the timing is even more critical for you to make tough choices about which things your company should focus on – and which things it should not. Recently, I came across a great list of questions that can help you choose from among competing potential strategies. 1.Where are we now and where do we want to be in, say, 3 years? (consider 1 year if that is easier for you) Start at where you want to be and work your way backwards. If your long-term goal is to grow market share by 10% then list out the strategies that will get you there. How am I going to build my client list? How am I going to increase the size of my customers’ basket of goods? This is simply a guideline to help you prioritize your ideas and opportunities. If you think it would be helpful, read your list of strategies to yourself everyday. By keeping them top-of-mind you’re more likely to stay focused.
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Top 5 Tips for Working With a Mentorby Stefan Töpfer on Jan 25, 2010
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Competitive Intelligence: Not Just For Big Businessby Stefan Töpfer on Jan 20, 2010
Small business owners may have nightmares about reading an article about the product launch of your closest competitor only to realise it’s the same product you have been working on for months. However, rather than wasting time worrying about how you could miss that information, consider instead spending that energy on competitive intelligence to prevent any possible surprises. The term competitive intelligence may conjure up images of espionage and James Bond movies, but it’s simply the honest practice of gathering and analysing public information on competitors. It ensures you to have a good sense of what is going on with your competitors and avoids surprises. It should be an integral aspect of any small business. Know where to look: Know who to ask: Know what is useful: Know how to use it Competitive intelligence is an ongoing job and by using the appropriate methods you can develop a good understanding of your competitors business and your competitors weaknesses can become your strengths!
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Collaborating With The Enemy: Competitive Advantage?by Stefan Töpfer on Jan 13, 2010
Most entrepreneurs view their competition as the enemy. They stay far away. But a small junk removal business in Canada is making friends with their competition and believes it gives their business an edge. Consider this story and you be the judge of whether this could work for your business. Brian Scudamore dropped out of high school in 1989 with $700 (£400) and a beat-up old pick-up truck to start his company 1-800-GOT-JUNK? Today they have 95 franchise partners across North America and are in 47 of North America’s top 50 cities. Although he never finished high school, Scudamore loves nothing more than learning. Within his business he has established what he calls a Mentor Board of Advisors, a group of people he turns to for advice and learning. Not surprisingly this group includes mentors within his own industry, but what is unique about Scudamore is that some of these mentors run the businesses he competes against every day. For example, one of these mentors runs one of 1-800-GOT-JUNK?’s closest rivals College Hunks Hauling in Florida. Scudamore first called them when they were both faced with a potential conflict. Together they resolved the challenge and ever since they have shared learnings and struggles and even asked one another for favours!. Scudamore believes his philosophy so much that he has invited another competitor, Jason Mohr who runs Any Junk in London, to come visit their offices in Vancouver and even offered to pay half of his traveling costs! Together, they’ve shared best practices that each could apply in their respective countries. Working in tandem with your competitors has benefits in addition to getting a good beat to what’s happening in your industry. Here are a few examples: • An employee conducts him/herself inappropriately with your competitor – wouldn’t you rather a friendly call from your competitor to inform you so you can nip it in the bud? • Need to collectively drive people to an area – Whether at trade shows or organizing events, customers may be more inclined to come if they can “kill two birds with one stone” • Your competitor might want to buy your business – An acquirer would likely approach a company that they are familiar with and want to work with in the future. Befriending your competition definitely requires a certain approach. Scudamore recommends leading by “sharing information first” because this establishes a basis for trust. It makes sense. Why fight your competition when you can work with them to grow the size of the pie? Isn’t the expression “Keep your friends close. Keep your enemies closer?”
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Top 5 Tips on Building a 6 Month Cash Reserveby Stefan Töpfer on Jan 11, 2010
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Opportunity – Small Business Quote of the Weekby Stefan Töpfer on Jan 09, 2010
A small business quote keeps you thinking, inspired and entertained.
Ann Landers (1918-2002) US columnist, attrib. To view previous quotes, click here
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New Year – Small Business Quote of the Weekby Stefan Töpfer on Jan 02, 2010
A small business quote keeps you thinking, inspired and entertained.
Edith Lovejoy Pierce (b. 1904) poet To view previous quotes, click here
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