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Three Question Close

I hope the title didn’t throw you off.  But, actually, I hope it did.

Many of you are probably familiar with our disdain for traditional “selling.”  We’ve likened it to the task of learning and using hand-to-hand combat moves.  The goal of most salespeople is to get the “prospect” to buy.  We put “prospect” in quotes as the very term connotes anything but pursuing relationship.

At Blue Elevator™, we aren’t really fans of what we call traditional “selling” or “prospecting.”  ...

You Are What You Eat

A fairly dated quip.  But descriptive, nonetheless.

Our bodies process what we take in.  We become what we eat, so to speak.  When we eat a lot of sugary, processed foods and a high carb diet, we can expect inflammation and a host of other health challenges.  And, if we eat clean, healthy, whole foods with plenty of protein, we hope to fare better, God willing.

Similarly, our activity levels also influence our physicality.  If we are sedentary ...

Franchising 101

So you’ve been thinking about franchising your business?  This is good.  Here are some things to consider.  This article is sort of a primer.  That’s why we call it Franchising 101.

The Litmus Test

Let’s first consider a litmus test.

And here’s the gist.  Your litmus test is this: You will need to answer and prove something very key.  Namely, that your brand/franchise will make a franchisee a good sum of money.  And, that he or she can do so by following a ...

The Call

When you operate a boutique business advisory firm, sometimes you get tasked with unique opportunities.

And when a client calls, you jump to it.

The Task

A Blue Elevator™ Group Member reached out to us one day.  And after a few short emails, we had things distilled down to something specific and actionable.  He needed a good referral.

• I called Company A.  The deal was too big for them.  They referred me to Company B.  No problem here.  A quick call.  A prompt ...

CART

And yet, another acronym.  But, why not?

These little gems are what I have used or constructed over many years of working in the professional business world.  I am passing them onto you, to [hopefully] save you time and trouble.

What’s In a Word?

CART is defined as follows:

• C = Complete
• A = Accurate
• RT = Real Time

Do Everything CART.  In life and in business, make sure you do every task Completely, Accurately, and in Real Time.

Completeness

We devoted an entire article to the ...

The Contracting Cycle

Here’s the typical contracting cycle for most contracting businesses:

1. Buy items to be installed or raw materials to be used to build and install something.
2. Incur labor to transport, build, or install something.
3. Invoice the client (for the progress on what has been built or installed).
4. Collect on the invoice.

And, there you have it (that is, if everything goes perfectly).  That’s what most people come to know and expect – both as a provider and as a consumer.

The Real Contracting Cycle

But, all ...

Pricing Congruency

As a precursor to this article, you may want to read our article: Price Versus Value.

In this article, we discuss how pricing influences value.  We also introduced the idea that value can be (or should be) a constant.

Are You Confused Yet?

As an organization, it is extremely important that you properly price your goods and services.  Commodities have more established market values (e.g., gold, silver, coffee, etc.).

When it comes to the many other unique goods and ...

Price Versus Value

I would like to introduce a very simple concept.  And as simple as it is, it’s not easy to always get it right.

But, let’s dive right in.

The price of an item is part of the value equation.  And it is here where I introduce (or reiterate) a familiar equation we use at Blue Elevator™.

Value = What You Get / The Price You Pay

A Simple Illustration

Let’s say an ounce of gold is selling for $1,200 per ounce.  If you ...

Seas of Change

Over 30 years ago, I recall spending a beautiful day on Lake Powell located in Paige, Arizona.  On one particular day, we had boated a good distance, close to 100 miles, up and through various slot canyons.

The azure blue water up against the red cliff walls was beautiful.  The water was smooth as glass. After making our desired destination, and refueling, we were getting ready to head back (a return trip of 100 miles).  That’s when I heard a providential ...

CAR

I have many life lessons I carry with me.  The various articles I write are how I “pay them forward.”

This one hearkens back to my days as an accounting student at Cal State University, Fullerton.  Also, I learned these concepts in my Becker CPA Review course.  And, this concept was reinforced many times over when I served as as a CPA and auditor at Coopers & Lybrand (now PricewaterhouseCoopers).

CAR.  This is an acronym for remembering basic internal controls.  C is ...