Jun 1
Here’s a post I wrote over a year ago that continues to have the free worksheet at the end downloaded by my readers. I thought it would be helpful to make it available again to newer followers of my blog.
A small business client of mine was thinking about moving to another location. When you consider the fact that it can take almost two years for customers to find you after a move, this is an important decision. When you also consider the fact that—after people—facilities may be your biggest financial investment as a business, it is an even more important decision.
The problem was, my client had nothing more to go on that his gut. Should he stay where he was or relocate? He had no idea except for how he felt at the moment, and that feeling kept changing.
Here’s something better: analysis.
First ask yourself which of these four things are the most important to your business: visibility, accessibility, affordability, and livability.
In other words, is it more important for a customer to see your business from a main thoroughfare even if it’s hard to get to? Or do people already know where you are and need quick, easy access to your store? These are issues of visibility and accessibility. Sometimes you get both in the same place, but not usually.
How much are you willing to pay for this location and what are the terms? How does that compare with other properties in your area? And how well does this location meet your business needs with things like work space, product display, and common areas. These are issues of affordability and livability. Again, you don’t usually get both.
Analyze each property based on these four criteria. Have others help you in the analysis and only move when you have a clear winner. Here’s a free Business Location Worksheet to help you do that.
In others words, don’t go with your gut on this one. With all due respect to Malcolm Gladwell, this is a time to think not blink.
May11
A marketing exercise most of us have completed is writing down a description of our ideal client. While I applaud the intent of this exercise, I think it falls short in truly defining what most small businesses need for their strategic target. Ideal client statements tend to be aspirational and their descriptions way too general to actually impact the marketplace.
Instead I lead my clients in an exercise I call The Class A Client (or Customer) Profile. We start with listing all the characteristics of an ideal client, but add to that list other information like business size, buying motives, geographical limitations, and things like that.
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May 4
I grew up on the east coast, a 30 minute drive from New York City. I have fond childhood memories of watching the Yankees play baseball at Yankee Stadium, the Knicks play basketball at Madison Square Garden, and watching the Rockettes perform before the showing of a feature film at Radio City Music Hall.
I love anything that reminds me of the Big Apple: soft pretzels, pastrami sandwiches, and outdoor hot dog stands. So I was thrilled when a stainless steel hot dog emporium arrived in the downtown square next to the Starbucks in my small college town.
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Apr13
There are 27 million business owners in the United States. Over 50% of these owners want out of their business, according to a recent survey quoted in this week’s TIME magazine. Only 1% of them will.
The TIME article goes on to explain how this happens,
“Take, for example, the avid photographer who starts her own business. She shoots weddings, expectant moms, family portraits, ball teams, and prom queens. Her passion for photography is contagious, and her customers love her work and tell their friends about the wonderful photographer who shot their wedding pictures.
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Feb23
Our life is filled with stuff. Lots of stuff. Phone calls, email, voice mail, text messages, customer requests, kids’ demands, whatever. Not to mention the endless stream of ideas that run through our brain. And it’s driving us crazy.
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