Competitive research is important, but it can be hard to find time to do it. Trusting someone else to summarize for you can leave important holes in your understanding of competitors’ strategies and processes. I want to make sure I’m clear about who I am and where I fit into the marketplace, as well as…
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In my last article, I discussed the No. 1 reason why most people in our industry aren’t rich. In that article, I stated that there is no good reason for people in our industry to make less than $500,000 per year income unless they choose not to. To some, that may sound like a lofty,…
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Question: What do you know about buying groups? Answer: There are variations of buying groups in our industry—from a couple of distributors banding together loosely to companies that offer other services and approaches. To answer this question fully, I went to Jamie Coggeshall, president of AIMastermind (AIM), a group that purely is a buying group.…
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There’s one reason why most people in our industry aren’t rich. At the end of the day, the business we are really in is the “know, like and trust” business. That’s right. Our real job as industry professionals is to get people to know us, like us and trust us. It’s true if we are…
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Research has shown that the right promotional products can elevate your prospective customers’ opinions of your products. However, selecting the right gift isn’t always easy. Balancing desired outcomes, messaging, branding and costs can be a nightmare. Successful promotional products are not only relevant to your brands, but also to your customers. Your ultimate goal is…
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This is what you clients want. This is what your staff wants. This is what your colleagues want. This is what baby boomers want. This is what millennials want. This is what my kids want. This is what my wife wants. This is a nearly universal truth. People want to be heard. Listen. Listening is…
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It’s not the product itself that provides value, but it is how the recipient uses and perceives it that influences branding and promotional efforts. You can assume that swag is a cheap and expendable marketing tactic, or you can leverage every impression possible and evoke valuable emotions in your customers and clientele by choosing the right…
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Question: I am new to the business. Do you have any advice as to how to price items? Answer: Pricing is complex. On one hand, you want to maximize sales, but if you price items too low, you might end up doing lots of work and making very little profit. Also, if you are known…
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Quit being afraid of the future. That’s where all the good stuff lies. The road to failure is littered by organizations that feared and tried to hold back the future. Just look at Lotus 1-2-3, which owned the database and software business powering PCs in the days before Windows. Or look at Kodak, the company…
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Question: I don’t like to show item numbers to my clients. Is there a way to avoid that in QuickBooks? Answer: Yes. You can customize templates to include only the fields you want and eliminate those you don’t. (And, it is a good idea to not show item numbers on customer forms, as it makes…
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