Home » Financials

Category: Financials

Using My Super Powers

My boys and I saw Guardians of the Galaxy Vol. 2 earlier this evening. We are Marvel Studios junkies. Even the bad ones were good enough for us. I’ve always been fascinated by super heroes, especially their powers and how they use them. I am firm believer that we all have super powers within us. Maybe not the ability to fly or super-human strength or making fire shoot from our eyes. But we have talents that, when harnessed properly, become amazing powers.

I have learned that one of my powers is the ability to take complex subjects and make them understandable.

Independent retailers have to master a number of skills to be successful.

  • You have to be good with your Products – knowing your products inside and out, knowing how to relate to customers, knowing which products to sell and how to sell them.
  • You have to be good at Marketing & Advertising – knowing how to get the word out to people that you are the place to shop.
  • You have to be good at Financials – knowing how to manage your cash flow, maintaining profit margin, keeping expenses in alignment with sales.
  • If you’re a large enough store you have to be good with People – knowing how to hire, train, and manage a quality team.

Those are the main legs of the retail business – Products, Marketing, Financials, and People.

I used to say I was good at three, just don’t ask me about Financials. Then the American Specialty Toy Retailing Association (ASTRA) asked me to do something unthinkable. They asked me to write a book about the financials of a toy store called “Financials Made Easy.”

They said if anyone could do it, I could. I told them if they changed the title to “Financials You Can Understand” (because no one could make it “easy”) then I was their guy.

In four months I learned and understood more about Financials than I ever thought possible. The book is one of my favorite writing projects because I had to take a topic I barely understood myself and translate it into the language of non-accountants everywhere. (My accountant friends who helped proof-read the book for errors were amazed as much as I was at how well it turned out.)

The book is proprietary property of ASTRA. You have to join ASTRA to get a copy. But the knowledge I gained in the process helped me tremendously at Toy House and also in my teachings through Jackson Retail Success Academy™ and PhilsForum. Later that year I did my first workshop on the topic. One of the attendees said her accountant had been trying to teach her this stuff for years, but this was the first time it finally made sense.

I have now presented several times on the topics of Retail Math, my least favorite and least experienced topic. I’ll be doing both a beginner and an expert breakout session on elements of the book at the upcoming ASTRA Academy in June.

I tell you this because I want you to understand the reasoning behind writing the book Most Ads Suck. Unlike Financials, I love Marketing & Advertising. I took over that element of Toy House in 1995 and began experimenting, trying different things to see what worked. I began studying advertising and reading different authors who spoke on advertising.

My radio sales rep Linda McDougall gave me Roy H. Williams’ first book The Wizard of Ads. I was hooked immediately. I ordered the other two books in his trilogy the very next day. I also became a huge fan of Seth Godin and joined his now defunct website triiibes based on his book Tribes where I met people as passionate about marketing and advertising as I was. I started using stuff I learned from Roy and Seth and Malcolm Gladwell and Gary Vaynerchuk and Daniel H. Pink and Guy Kawasaki and others.

Not everything I learned worked for me. I had to mix and distill and tweak and measure and test. But when it did work, it was magical.

I wrote this ad in a few minutes one Sunday afternoon in July 2008 …

I couldn’t believe it. They were taking customers into the men’s bathroom. Yes, my staff was taking men and women, young and old, into our men’s bathroom. And they were coming out laughing, smiling, oh yeah, and buying, too. I guess when you have a product this good, you just have to show it off however… and wherever… you can. The men’s bathroom… Gotta love it!  Toy House in downtown Jackson. We’re here to make you smile.

I didn’t ever think about not running it. It told a story. It made you laugh (emotion). It grabbed your interest. Yeah, it mentioned the men’s bathroom, but not in a bad or seedy way. Yeah, it never mentioned the product (if you remember the previous blog, you know that feelings are more important than facts.) Yeah, it went viral big time.

The ad ran in August 2008. Two times a day, Monday through Friday, for four weeks. That’s it.

The first day it aired, the DJ started talking about it live on air, wondering what was going on in our men’s bathroom. The second day, all the DJ’s on all the related stations were talking about it – including one of the stations that wasn’t even running the ad! By day three even the local TV talk show host was speculating on that ad. All fall my staff and I would get asked at the grocery store or the gas station about what was going on in the men’s bathroom. In March 2009 one customer stopped in and asked me because, “All we talked about at the adult table at Christmas Dinner was was going on in your men’s bathroom.” And she lived two hours away!

When people are talking about your ads weeks and months after they aired, you made memorable ads. When people are asking you about your ads even when you’re not in your store, your business is at the top of their minds. When people talk to their friends and family about your ads, you know you made an impact.

That ad wasn’t a lucky accident. It was years of study and testing. It was years of trial and error. It was millions of dollars spent learning what moves the needle and what doesn’t.

The book Most Ads Suck (But Yours Won’t) is me using my super powers to take something as complex and nuanced as Advertising, that I have spent twenty years studying and actively doing, and make it understandable. This is me at my best helping you become your best. I am asking for your support to help launch this book.

My super power is to make it understandable. I’m counting on your super power to make it happen now.

-Phil Wrzesinski
www.PhilsForum.com

PS The principles in this book don’t just work for radio ads. The principles apply to billboards, print ads, television, direct mail, email, social media, pitches to investors, political speeches, and anywhere else where you need to persuade someone. If you haven’t yet pre-ordered the book through my Indiegogo campaign, there are plenty of links above.

Words of Wisdom From 1969

Here is another gem I found buried in a file, long forgotten. My grandfather and founder of Toy House, Mayor Philip H. Conley, penned these words in June 1969, two months before hiring my dad as his new manager.

I don’t know if this was penned to put his thoughts on paper for my dad, or if it was just something that struck him one day. I do not know if it was ever read again after that day (the file I found it in was pretty darned old). I don’t even know what one of the terms means (neither did my mom or dad). He refers to “marking capacity” and “markers”. I believe those were people who put price tags on boxes like my sister and I did as young children. He also refers to “jobbers”. I know that term. Those were the wholesalers or distributors of that day. I do know there are some nuggets in there that ring so true I’m calling them universal.

Here is his June 1969 manifesto in its entirety…

Business is a matter of balance.

Good business – successful business can be achieved as good government can be achieved using a system of checks and balances.

Balance as it applies to our business, there must be a balance between the number of customers, parking, inventory, shopping carts, sales people, stock people, marking capacity, office capacity, square feet selling space, square feet of stock space, store hours, checkout capacity, and giftwrap capacity. An excess of any of these factors creates too much expense for an efficient operation. A deficiency of a factor immediately creates an excess of all other factors – this is very bad for a profitable operation. Management’s responsibility is to maintain balance.

Enough free off street parking is an obvious example. Enough shopping carts is not so obvious. If people have to wait for a cart, then their parking space becomes non-productive , floor space, sales persons, inventory, etc. all become non-productive. Very wasteful, very expensive. We must realize that the customer may be on a time limit, therefore his waiting time must be subtracted from his shopping time. And, too, waiting is most aggravating and will result in a bad attitude for the customer.

Without customers, there is no business. If a customer is not satisfied after he is in the store, there is no sense in advertising to get him in the store.

Any time a customer is not satisfied with merchandise purchased in our store, he may return it for a credit, refund, or exchange. This matter should be handled more quickly than the original purchase.

Inventory balance is most difficult for us to achieve.

Excessive inventory is wasteful as it requires too many markers, too many receivers, too much work capital, too many sales people, too much stock space, and too many markdowns. If not balanced, this is the greatest cause of business failure.

An accounts receivable policy should be set up and adhered to with all being treated alike.

Inventory turns is the number of times your total inventory is sold per year. If you subscribe to the theory that you need only a 90-day inventory, then you should turn your inventory four times a year. Food stores may turn their inventory 40 or 50 times a year. Specialty stores turn theirs considerably less. This is the nature of the business. “If you can’t find it somewhere else, go to the specialty store and pay their higher price.”

Buying direct, although at a better discount, tends to create overstock conditions. In just buying dollars alone, your better price reflects at the most an 18% savings. However, your first markdown is usually 50%. I have not referred back to the other excessive expense factors. Buying direct, except under strict control, is dangerous.

In business the obvious is not always true!!! Example: “You’re nuts to buy from a jobber when you can get from us for less.”

Jobbers have been hurting for the past several years because so many operated on buying at the best price and selling at the lowest price hoping to move mountains (and doing so) of goods. (At a profit????)

So jobbers have been financially weak which is reflected in many ways.

  1. They do not carry a complete selection.
  2. The services of a competent salesman are not available.
  3. Their plant facilities do not allow for an efficient handling of vast quantities of goods.

Historically, three or four jobbers could not supply our needs. Their selections were never broad enough. We many times were forced to go direct to satisfy our needs for a “spread” of goods as well as supplying the needs of our customers, i.e. Monopoly money, Carrom refills.

Direct suppliers and jobbers giver preferential treatment usually to the largest customers. But not necessarily sometimes to the most regular – frequent – steady – GOOD PAY buyer. Over the years loyalty is pretty much a thing of the past.

No one seems to assess the market today. In years gone by, it was wise to spend time assessing how much could be sold profitably in the market and then budgeting the business accordingly. No one ever realized how large this nation’s ability to consume really was.

Business is a matter of keeping all relevant factors (and there are untold, unseen ones) in balance.

-Philip H. Conley

-Phil Wrzesinski
www.PhilsForum.com

PS The more things change, the more they stay the same. This June I’m going to be speaking to the toy industry about how to keep things like inventory and cash flow in balance. If you would like me to speak to your industry, I have some insights that go way back.

How Will You Measure 2017?

The New Year is here. Your New Year’s Resolutions are gone. The inventory has been counted. The mail carrier is complaining about all the catalogs weighing down his bag. You’re trying to make sense of what just happened in 2016. (Or just trying to forget what happened in 2016.) 2017 is here whether you’re ready or not.

The only real question you need to answer right now is…

How will you measure 2017?

Will it be by growth in top line sales or bottom line profits? Will it be by management of cash flow or expenses? Will it be by the number of days you actually take off? Will it be by the number of human resource headaches you have (or don’t have)?  Will it be by “likes” and “shares” and “comments” on social media?

You get to choose. You have to choose. You have to decide where to put your limited energies and resources. If the bottom line is good, you work on cash flow. If the money is good all around, you work on HR. If the staff isn’t giving you any hassles, you work on PR and social media. If all of them need a hand, decide which one is most critical (hint: cash flow) and go there.

PICK A PROBLEM, SET A GOAL

The key is to determine what you want to measure and – most importantlyhow you’re going to measure it. It is that second part that gives you the  map to guide your decisions for the year.

Most businesses fail to set specific goals. They set vague ones like “grow profit”.  Then they forget all about those goals the very next morning as the day-to-day running of the business takes hold. But if you say “grow profit by $5,000” then you know you need to increase sales, decrease expenses, and/or increase profit margin. If you say, “grow profit by $5,000 through better control of expenses” you have an even clearer path.

The more specific your goal, the easier to plot the course. The more you make it known and talked about with your team, the more accountable you (and they) will be. The more you reward the team for reaching the milestones you set throughout the year, the more they will help you.

Roy H. Williams said it best, “What gets measured and rewarded, improves.”

The more specific you make your goal, the easier it is to draw a map that will get you there.

-Phil Wrzesinski
www.PhilsForum.com

PS Once you’ve set your destination, do yourself a favor. Print it out and paste your goal somewhere in the back office area where you will see it daily. Tell your staff the goal and ask for their input on how to get there. Talk about your goal in every single meeting. Research new ways to reach your goal. Set up milestones to measure your progress. Hold yourself accountable to your goal. Reward yourself and your staff as you reach each milestone along the way.

PPS Not sure how to set your goals or need help with your map? Send me an email. As always, I’ll do whatever I can to help.

Newly Redesigned PhilsForum.com Website

I told you I was working on a new version of my PhilsForum.com website.

It just went live a few minutes ago.

Everything is up and running except this blog (which should be migrated over by late Thursday).

In an effort to make it more search engine friendly, some of the pages you’re used to seeing have new names.

  • Freebies is now Free Resources and still includes links to free pdf’s you can download on a variety of topics
  • Speaker for Hire is now Hire Me to Speak and focuses on the top programs I am most often hired to do
  • Products is now Phil’s Books and focuses on my two books, Hiring and the Potter’s Wheel and Welcome to the Club Daddy
  • Media is now About Phil and yes, it is about me

You’ll also find a few fun things hidden here and there on the site including a page of radio ads I have run for Toy House and Baby Too.

Check it out and let me know if there are any issues with the site (tell me what browser/platform/device you’re using, please).

Every time an independent retailer grows, we all grow.

-Phil Wrzesinski
www.PhilsForum.com

PS Supposedly all email subscribers will be migrated over, but I will be looking into it directly. You may get an email from me asking you to resubscribe to the new blog site. Just giving you a heads up.

Launching a New Website – The Jackson Retail Success Academy

Back in February 2008, the newly hired director of The Enterprise Group, Scott Fleming, invited all the alphabet groups in town to a meeting to discuss how we were supporting existing retailers in Jackson.

The DDA, SCMW, SBTDC, JLF, EDC, JCCC and MA were all there. I was there. Everyone but Scott himself who got called away at the last minute.

The question of the day was, “What is your agency doing to help indie retailers survive and stay in business?”

After seven people said, “Absolutely nothing,” an idea was born – the Jackson Retail Success Academy (JRSA). Less than two months later we launched our first series of classes.

I was the only retailer sitting at that table that morning, so I was asked to come up with a curriculum (a healthy dose of customer service, marketing & advertising, inventory management, financials, and hiring & training). Ten businesses signed up for that inaugural class.

Over the next several years, we tweaked the class schedule to make it work better for the attendees. We had start-ups attend. We had new owners taking over old businesses attend. We had non-retail businesses who wanted the customer service, marketing and hiring segments attend. We had business coaches who wanted to learn new techniques for teaching attend. We had restaurants, online retailers, and home-based retailers attend.

The cool thing is that JRSA is still around and still getting better. The class schedule is shorter (from an original 10-week program down to 5 weeks now), but the content is better, tighter, and more focused.

A retailer who takes this class will have amazing tools they can use to fix almost any kind of retail problem.

Finally, a website with all the details is up.

www.JacksonRetailSuccessAcademy.com

Just like the class, the site is constantly being tweaked and will continue to get better. The retailers in Jackson ready to take their businesses to the next level are already checking it out and signing up for the next class starting in January.

What are you doing to grow your business?

-Phil Wrzesinski
www.PhilsForum.com
www.JacksonRetailSuccessAcademy.com

PS If driving to Jackson five times is out of the question, but you still want to grow, I have a Road Show version of JRSA I can bring to your town. You only need to convince five businesses to sign up and find a place to hold the classes and I’ll do all the rest.

Putting Amazon and eCommerce Into Perspective

It is about that time of year when you start hearing all the news about Amazon and Wal-Mart and low prices and discounts and the death of mom & pop shop retailers.

Yeah, Amazon is huge. In 2013, they did $75.4 billion in sales. That was 28.6% of all US eCommerce!

But it was only 2.5% of all retail. In fact, if you take gasoline and groceries out of the mix, eCommerce only accounted for 8.8% of all retail dollars last year.  (see references below)

Think about that for a moment. All the hype about Amazon and the Internet, yet over 9 out of every 10 dollars spent in retail were spent in a brick & mortar store. Brick & mortar is so far from dead, that any report you hear otherwise should be discounted immediately.

Yeah, Wal-Mart is huge, too. Almost four times bigger than Amazon. In 2013, they did $279 billion in sales in the US. That was 9.2% of all retail – more than all of eCommerce!

But once again, that shows you there is still plenty of room for you to do business. Add up Wal-Mart and all of eCommerce and you still have 82% of the retail dollars going somewhere else. That’s almost $2.5 trillion dollars going somewhere else.

That somewhere else ought to be you and me. If we quit worrying so much about Amazon and Wal-Mart and the demise of the mom & pops and start focusing on making ourselves better, it will.

-Phil Wrzesinski
www.PhilsForum.com

PS I used two sources for the numbers you see above. The first source here from emarketer.com claims that all retail was $4.5 trillion. But I felt that number was inflated by things like gasoline purchases and other non-eCommerce retail, so I also used the numbers from the US Census here to get a true product purchase number just over $3 trillion.

PPS And the number from Amazon is their total sales, not just US sales, so their percentage of the US market may be a little bit lower.

How Much Cash is Enough?

(Warning: This post includes math. If you wish to stick your head in the sand and stay away from all things math, do so now.)

This is a big question at the end of the year for pretty much all retailers, especially us seasonal retailers. We’re flush with cash from the big Christmas season. We’re thinking we want to give ourselves a nice bonus, possibly pay down a loan, or even bonus the employees who worked so hard.

We just want to make sure we have enough cash for the upcoming year. But how much cash is enough?

You need to calculate two numbers – Current Ratio and Cash-to-Current Liabilities Ratio.

To do that, you need a Balance Sheet from January 1st. Your accounting software can easily print that for you. (If you don’t have any accounting software, take some of that cash and invest in Quickbooks and a class on how to use Quickbooks – it will pay for itself in one year!)

On your Balance Sheet locate these three numbers.

  • Current Assets
  • Cash
  • Current Liabilities

The Current Ratio is calculated like this:

Current Assets divided by Current Liabilities = Current Ratio

The answer will typically be shown as a number like 2.9. A good rule of thumb is to have a ratio of 1.5 or higher. Typically seasonal businesses at the end of their season will have a ratio around 3.0 or higher. If your number is around 3.0, that’s pretty good.

The Cash-to-Current Liabilities Ratio is calculated like this:

Cash divided by Current Liabilities = Cash-to-Current Liabilities Ratio

The answer will typically be shown as a percentage like 75%. For some businesses you would ideally like between 10-20%. But for seasonal businesses entering their slower season, you will want much more, as much as 70-80%. If you are a seasonal fourth quarter business, 75% is a good number to have right now.

Separately, the two numbers only tell part of the story. The key is to look at both together. If both numbers look good, then your only real worry is deciding what to do with the extra cash. If both numbers are weak, then you have some tough decisions to make to try to raise some cash and get cash flow under control.

But when one is weak and the other strong, there are a number of issues at play.

If the Current Ratio is strong but the Cash-to-Current Liabilities is weak, then you likely have too much inventory. That may be on purpose because you got a good buy or are planning an expansion or are growing inventory for the upcoming season. Or it may be that you bought too much last year and are carrying excess inventory. It might be time to have a sale.

If your Current Ratio is weak but Cash-to-Current Liabilities is strong, you need to start writing orders and building up your inventory.

The math isn’t that hard to do. The results, however, tell you a lot about the health of your business. Don’t ever be afraid of the Math.

-Phil Wrzesinski
www.PhilsForum.com

PS If you are a summer seasonal business go pull your Balance Sheet from the end of your season and do those calculations from there. If you are not a seasonal business (doing 40% or more of your annual business in one quarter), then you don’t need the big build-up of cash so those numbers can be much lower. Just keep an eye on them each month.

Give Your Business a Physical – Track These Numbers, Too

There are many different metrics you need to measure to determine the health of your business. Two of the biggest are Profits and Cash Flow. If both of those are good, your business is probably doing well.

But that doesn’t mean you don’t look at other numbers, too. That would be the equivalent of a doctor checking your temp and blood pressure and determining you are completely healthy without looking at anything else.

Here are some other numbers you should track to keep a check on the pulse of your business.

Traffic – Number of transactions you had this year compared to last year. Did that number go up or down? If it went down, why? 
  • Did your location get worse? 
  • Was there a change in the types and numbers of stores around you? 
  • Was there a drop in population? 
  • Did you cut back your offerings and categories significantly?
If your traffic was down, but none of these other factors were negative, you have a hole in your Customer Service (repeat and referral business) and/or Advertising (first-timer business). You need to find that leak and fix it fast.

Average Transaction – Take your total sales and divide by # of transactions. Compare to last year. If this number went down, why? 
  • Did you carry fewer high-ticket items? 
  • Did you add more low-ticket impulse items that people might run in and grab? 
  • Did you do anything to attract more youth? 
If none of those factors were in play but your average ticket went down, you have a hole in your staff’s ability to sell. You need to fix that fast.

Market Share – This is a little harder to calculate, but an incredibly valuable piece of information that can pinpoint problems – even if you had a great year on paper!
  1. Find the national sales figure for your industry. 
  2. Divide that by the population of the United States to determine sales per person. 
  3. Multiply that times the population of your trade area to determine the market potential for your area.
  4. Divide your total sales by that market potential to find your percentage or share of the market.
  5. Compare it to last year’s number.
You can have an awesome year with solid sales growth and decent profits and cash flow, but still be in potential trouble if your market share is slipping. If all your growth was fueled by huge growth in your market, but you aren’t holding onto your share of that market, then you are ripe for being picked off by a better competitor entering your market. You need to figure out why your share is decreasing and fix that problem now.

You can also have a lousy year with declining sales and profits, but mostly fueled by a change in the market. Maybe your industry is in decline (smaller sales per person). Maybe your trade area is shrinking. But if your market share is growing, then your big issue is determining whether to cut expenses and inventory and hope the market comes back or move to a new market.

Make sure your Profit and Cash Flow are good. Those are immediate life threatening problems for your business. If those are good, it buys you time to check/fix the other problems.

Give your business a full physical. An ounce of prevention is worth a pound of cure.

-Phil Wrzesinski
PS Be honest in your evaluations. Even if there are circumstances beyond your control, there are always circumstances you can control and improve while you ride out the storm.

Retail Math is Not So Scary

No one signed up for my June Business Boot Camp on Retail Math. (Well, okay, a couple people did, but not enough for the Chamber to make it a go.)

I think I know why.

Retail Math is scary. So many numbers and ratios and calculations. So much confusion over terminology. Is a credit a good thing, or is that a debit? (I still get those confused all the time.) Accountants and bankers don’t seem to help. They use words like equity and depreciation and accrued this or that.

We don’t like feeling dumb, so we don’t like going to classes and workshops and seminars where we know next to nothing. Yet that is exactly the kind of classes and workshops and seminars we need to be attending. Especially Retail Math.

If you want to be successful and pay yourself what you’re worth, you have to know the math.

Fortunately for you, I have struggled with this myself. So I attended the workshops and seminars, talked to the accountants, spent the time wrapping my head around all those 50-cent words and million dollar concepts, trying to find a way to put them into terms you and I and all the other indie retailers might understand.

I wrote them down in two simple, powerful Freebies

Both contain math. It is math you can do.
Both contain terminology. Explained in a way that will make sense to you.
Both contain ideas and thoughts on how you can use the math.

Retail Math is not so scary once you learn it.

Maybe I cannot lead you to a seminar or workshop, but I can lead you to this water. All you have to do is drink.

-Phil Wrzesinski
www.PhilsForum.com

PS For my toy store friends, I took the Financial Statements eBook a step farther. ASTRA contracted with me to write a definitive book on the Financials of an independent toy store called Financials You Can Understand (they wanted to call it Financials Made Easy, but even I knew that was stretching it a bit). The book is a combination of all the math in the two Freebies above along with an explanation of what a typical toy store’s numbers would be and what to do if your numbers don’t match. It isn’t free, but the information is so valuable that you will quickly recover the costs of the book many times over – even if you aren’t a toy retailer. My research has found that the numbers of a typical toy store are quite similar to any retail business that does most of its sales in the fourth quarter.

PPS Full disclosure: I do not get anything from the sales of that book. They already paid me to write it. You, however, will get plenty from it. The only thing scary is how much better you will understand the numbers in your business.

How Much Are You Investing in Your Business?

The Jackson County Chamber and I are teaming up to offer the best segments from the Jackson Retail Success Academy for all Jackson area businesses (and anyone willing to make the drive).

Three classes. Three four-hour days. $250 investment in your business (or $99 per class if you cannot make all three or are not a retailer.)

Inventory Management and Financial Health for Retailers
Thursday, June 27 (9am to 1pm) 

Every retailer knows that Cash is King. But do you know how to get more cash in your business to grow your kingdom?

This Business Boot Camp is designed strictly to help retailers understand how to manage inventory and expenses and, most importantly, your cash. You will learn simple formulas that the smart retailers use to keep the checkbook fat and happy. You will learn the Do’s and Don’t’s for keeping your inventory fresh and moving. You will find out where your cash is hiding and how to get more of it.

We will discuss things like Open-To-Buy programs, financial statements, the proper numbers to measure, how to price your products for profit, and the simplest way to get the most out of the inventory you sell.

Yes, there will be math. The important math. The kind of math you have to do if you want to be successful. What will surprise you is how quickly and easily you will learn the math and see the results.

(Note: to get the most out of this Business Boot Camp bring your previous fiscal year’s Balance Sheet and Profit & Loss statement. You will not be asked to share, but it will help you do your own math.)

Shareworthy Customer Service for Small Businesses
Thursday, July 11 (9am to 1pm)

We all know Word-of-Mouth is the best form of advertising. But do you know how to get people to talk about your company?

This Business Boot Camp will teach you the fundamentals behind generating Word-of-Mouth from your customer base. You will learn how to exceed customer expectations in such a way that they have to tell someone else. You will learn how to create a culture in your business that wants to delight your customers at every turn and raise the bar of Customer Service so high that you turn clients into evangelists.

Whether you are a retailer, a service provider, or any type of business, you will walk away with four ways to generate word-of-mouth, a new approach to hiring and training, at least one planned staff training, and a better understanding of what it takes to offer Customer Service that makes people want to talk.

Word-of-Mouth is still the most powerful form of advertising. This Business Boot Camp will be one you will be talking about for a long time.

Branding and Advertising: Reaching New Customers in Today’s Market
Thursday, August 8 (9am to 1pm)

The advertising that got you results yesterday isn’t working today. Today’s market just can’t be reached. Or can it?

This Business Boot Camp will teach you the fundamentals of marketing that work in any day and age and how to apply those to this day and age. You will learn what moves the needle in advertising and how to craft a message that gets your potential clients to take action. You will learn the biggest myths of advertising and how even the largest companies throw good money away every single day. You will learn how to get the most out of your advertising budget (even if it close to zero).

Advertising cannot fix your business, but if you have a good business model, you will learn techniques that will grow your business the right way and keep it growing for years, no matter what kind of business you run.

Contact the Jackson County Chamber of Commerce to sign up. It will be the best twelve hours you spend on your business this summer!

Phil Wrzesinski
www.PhilsForum.com

PS If you are struggling in any one of these areas, you should sign up for that one class Ninety-nine dollars for four hours of top-level, hands-on instruction is the kind of no-brainer investment you know you should make for your business.

PPS If you don’t think you need any of these classes then you should definitely sign up for all three. Last night as I did a presentation for the Quincy Chamber of Commerce, one of the organizers lamented that it was only the businesses who were already doing well that showed up. I reminded her that was why they were doing well. They kept showing up.