Posted by: Ken Moll
I recently heard that only 3% of all businesses have a marketing plan. Virtually every company out there does some type of marketing – but it seems that only 3% have a plan???
Whether you believe the statistic, or not, the statement begs the question: Do you have a strategic and systematic way of evaluating your marketing? If you are part of the 3%, that is great. But if you are part of the remaining 97%, then ...
Continue Reading →Posted by: Ken Moll
Copy- improve- create. It’s like lather-rinse-repeat. When you break it down, it’s really quite simple. Most businesses, regardless of industry, are following one of those themes.
Let me suggest to you that if you want to make the most impact, then don’t spend your time copying what someone else is doing. They say “imitation is the sincerest form of flattery.” If you merely copy what some other business is doing, you do more for your competitor than you do ...
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Here’s an example. ACME Company usually observes the following monthly sales performance:
45 total leads x 20% close ratio x $11,667 avg. per sale = $105,000
ACME would like to double their monthly sales volume so they hire a consultant to drill down and develop a strategic approach to improvement. The consultant found ACME’s composite performance is as follows:
30 “self-generated leads” x 10% close ratio x $10,000 per sale = $30,000
15 “referred leads” x 40% close ratio x $12,500 per sale = ...
Continue Reading →Posted by: Ken Moll
Is all money created equal? If you think money is money – think again. Whether for personal reasons or for your business, do your best to establish some level of a cash reserve. Call it a “rainy day” fund, a reserve account, etc. Something is better than nothing – and more is better than less.
Into every life (or in every business), a little rain must fall. You will appreciate establishing a ...
Continue Reading →Posted by: Ken Moll
I’ve heard that symptoms of steroid use among athletes are injuries such as muscle tears, torn ligaments and tendons, etc. Steroid use is, in fact, building significant gains in muscle; however, these gains in muscle are happening at a pace greater than the surrounding tendons’ and ligaments’ ability to handle the extra force being generated.
We can draw some parallels from this when it comes to business. For the record, steroid ...
Continue Reading →Posted by: Ken Moll
When I was in grade school, we used to ride around the neighborhood on our bikes; they were single speed bikes. When we got to Jr. High school, most of us “graduated” to 10-speed bikes. What a concept. Starting from a dead stop with a single speed bike was a big chore. With the 10-speed bike, it was somewhat easier.
You would start out in 1st gear – then systematically move up through each gear as you gained ...
Continue Reading →Posted by: Ken Moll
Have you ever noticed that all of us tend to want to find that comfortable little place I will call equilibrium point. It’s that little “pocket” where things feel just right. Whether it’s your exercise routine (or lack thereof), your relationships, your diet, or the business you manage, we tend to find ourselves stuck in these spaces in life that we find down right comfortable. The problem is, over time, those equilibrium points tend to get ...
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