Mayor Michael Bloomberg makes it perfectly clear that small businesses will restore the strength of our economy. I recently saw him at an event celebrating the 400th anniversary of  Henry Hudson’s journey up the river that now bares his name. Mayor Bloomberg, who regularly advocates for financing for small businesses, mentioned that if every small business were able to hire one more employee it would solve our unemployment issues.

During a brief conversation with Mr. Bloomberg, I suggested that one of the obstacles facing small business today is the disadvantage they face when shopping for products and services they require just to open their door every day.  Since business owners rarely have the research time and detailed knowledge of the profits generated in providing those necessary products and services (such as telecommunications, merchant services, energy, office supplies, etc.), they are open to being overcharged.

The Mayor’s response was that someone should start a business that does the shopping for them.  So true Mr. Mayor, and that is the exact service that Business Advantage Group provides.  Not only do we do the actual shopping, it is done by analysts who each have a specialty in the area we are shopping. Who better to find you the best pricing and sevice for your business than someone on YOUR side who knows what cost is?

Thank you, Mr. Bloomberg, for the confirmation.  Business Advantage Group looks forward to every opportunity to help a small business achieve the success they work so hard for.  By uncovering hidden fees and overcharges, we add to the profits of our clients which will undoubtedly help them grow.

Jeff Tieger

President

Business Advantage Group

jeff@BizAdvantageGroup.com

(888) 377-3331 ext 3

How much can you take?  It is everywhere.  “Economic Downturn”, “Recession”, “Stock Market is down again”, “It will take years to recover”.  Rather than panicking due to the depressing stories we watch and read every day, perhaps a little creativity and positive thinking is what we need avoid furthering the decline.  The question is, “What are some things you can do right now that will NOT have long lasting negative effects on your business?”

Obviously our current economic situation requires us to make many changes to survive these challenging times.  Drastic decisions will only hurt you in the long run.  If you cut salaries and jobs, your employees lose all sense of security and therefore lose focus.  If you cut down on benefits and bonuses, you also cut down on incentive and motivation to go the extra mile.  It is that extra mile that will help you rise above your competition.  If you cut back on your advertising, you will quickly be forgotten.

What can you do BEFORE you get to that point?  Go back to basics!  There are two ways to grow a business…

1) Bring as much down to the bottom line as you can

2) Increase the top line

Use a scalpel not a machete when cutting costs to build your bottom line.  This is the time to investigate your monthly expenses. When was that last time you really looked at your telephone bill, energy bill, merchant statement, or payroll service?  Most people will say “I look at them every month” or “I shop my rates every year”.  You can probably save a few dollars here and there by shopping and drudging through proposals from your RFPs.  Are those dollars worth all of the time it takes to find them?  You could probably save even more if you worked with someone who knew more about each service you use.

There are so many nuances, unknowns, and variables to every service your business needs to operate.  It is just not possible to be able to know it all well enough to be certain your rates are fair.  Obviously sales people want to sell you their product or service at the highest price you are willing to pay.  How can you be sure this is the product or service that best meets your needs at the best price?  Seeking the lowest price from a list of proposals is only one step in the process.  You will also need to make sure that competing proposals list products or services that are equal when it comes to the benefits they offer you, rather than the features you will never use.  Next, by asking the right specific questions you will be able to make sure you can “trim the fat” by not paying any unnecessary fees.  Knowing what you are actually paying for is imperative in ensuring a fair deal.

While your competitor is spending time in the corner office comparing apples to oranges, you need to be focusing on building sales and growing your client base.  When you are out increasing revenue, you need people who understand the costs you incur each month to effectively reduce them.  Those people are out there and easy to find.  Consultant is a popular word these days, but that type of relationship offers you so many possibilities.  The most important thing it offers you is the ability to get something done by those that know every detail.  The initial thought is that you can do it yourself, or that is the CFO’s job.  I personally have spent the past few years improving the CFO’s efficiency as my method of consulting is slightly different.  It carries no risk and no cost to my client as my company simply earns a percentage of the savings it creates.  This way, your CFO can focus on everything else on his/her desk while you focus on building sales and the experts perform the analyses and comparisons to maximize savings.

Caution is of utmost importance.  Making the right decision the first time is imperative.  Put the talent in the right place.  You are the expert in your business and therefore the best person to build your customer base and create revenue.  The best way to turn as much of that revenue into profit is to have Business Advantage Group managing your expenses.  Each member of our team has many years of experience in the industries that provide the services you use.  That gives us the ability to ensure your relationships with your service providers effectively satisfies your needs at the lowest possible rates.  BA Group is a performance based firm, simply earning a percentage of the savings we create for your business.  This provides a cost free/risk free opportunity for you to effortlessly turn your revenue into profit.

If you would like further information, please contact me ASAP.

jeff@BizAdvantageGroup.com

www.BizAdvantageGroup.com

888-377-3331 ext 3

The main focus by the top offices in today’s business world is the bottom line.  Maybe, just maybe, cost efficient, innovative ways of creating revenue can offset some of the need to lighten the load.  Even in today’s market, you can increase sales.  You may have to be willing to think out of the box.

“Insanity: doing the same thing over and over again and expecting different results”, Albert Einstein.

Like many businesses, it is possible that your “cash cow” turned into a “lame duck”.  Should you find different ways to sell that same product or service, or should you find different products and services to sell?  The more you diversify the better chance you have of making a sale.  A different light on your previously hot item may make it fresh and new again.  In addition, take a look at some old product ideas that you have steered clear of in the past.  They may be more relevant now.

Outstanding customer service is of ultimate importance.  Those people that you take great care of now will remember you when it is time for a larger purchase.  The extra mile goes a long, long way.

Going in a different direction when building your client base will help you stay a step ahead of everyone else.   Just like you, the first thing your competition did was to slash their advertising budget.  It saves money, but at what cost?  The number of people who receive your message is lower; therefore the number of people who buy from you is lower as well.  While your competitor is figuring out which bills to pay with the money saved from their advertising budget, you need to get out and rebuild your networking skills!  The more people talking about your business the more prospects you will have.  In addition, every referral you make to a client or prospect adds value to your sale.  The more you do for your client, the better the chance you have of making that sale.

There are so many new and creative ways to network.  The days of the lead quotas and 7 am meetings are over!  For a nominal fee you can join groups like 24-7 Networking Sales www.24-7netsales.com .  This is a brilliant model that connects buyers with sellers.  The beauty of 24-7 is that for every lead you submit that generates revenue, you earn a commission.  Even better than that, the other members are motivated to learn about your business so they can get a commission from you.  For a slightly larger fee you can play golf with other business owners through the World Golf Network www.worldgolfnetwork.com. You’ll be in a strategically designed foursome with decision makers that are looking to do business…right now.  Networking gets your message out there in a much more personal way and opens that door for you while your competition is still outside knocking.

During your mission to increase sales, do not forget the endless value of the internet.  The most important thing about your web site is how it is used.  Having a web site to direct prospects to is important, but only a small piece of successful internet marketing.  Your web site should be bringing prospects to you.  It can be a valuable asset and a relatively inexpensive way to advertise.  Yes, the price tag may be high, but the impressions you will make are immeasurable.  So the cost per impression is minimal.

You are the expert in your business.  Let everyone know how much of an expert you really are with your blog.  Blogging is a great way to drive traffic to your site and reach your entire database to remind them you are still in business. It is also the fastest no cost way to get picked up by search engines.  Make sure you are easy to find where most people go when they look for information.

In trying to effectively trim your advertising budget, consider e-mail vs. direct mail.  When you combine a menial return with $.42 for a stamp, the price of the direct mail campaign really cuts in to your potential profit.  Especially when you consider how many of those expensive mailers will end up unopened in the shredder.  While your competition is stuffing envelopes, you need to be compiling a database and sending out e-mail blasts.  At the click of a mouse, your advertisement, newsletter, or blog can be waiting in thousands of inboxes.  Perhaps you can expect the same small return, but you have spent much less.  You will also gain so much more information.  If you use e-mail marketing websites like www.constantcontact.com or www.emailbrain.com they can tell you everything you need to know about how your message was received.  You can view statistics on how many were deleted, how many were opened, how many clicked the attached link to your web site.

People are spending money.  Certainly not in the same way, but they are still spending.  If you are proactive and not reactive you will always stand a better chance at closing the deal.  Take advantage of the current situation and carefully put procedures in place that will not only build sales in a more cost efficient way, but continue to grow your business well beyond the economic rebound.  On the other hand, if you are not careful now and you make drastic decisions, you will spend the first year of the rebound catching up rather than reaping the benefits.

To quote my brother, “My business is recession proof”. It is not luck. It is just how he built his business.  In this time of panic, do not make quick “knee jerk” decisions.  Take some time to think about how each of your options will affect your business over the next few years and into the rebound.  Ask for opinions.  Assemble a group of friends and family to bounce ideas off of.  They may not understand your business completely, but they can certainly tell you how they would react to the changes you are considering.  Follow these simple suggestions, and you too can make your business Recession Proof.

If you require any further information, please contact me ASAP.

jeff@BizAdvantageGroup.com

www.BizAdvantageGroup.com

888-377-3331 ext 3