Sunday Biz Thought: Why are you in business?

Why are you in business?

Sunday Biz Thought:   When is the last time you have taken the time to think and reflect  on the question,  "Why are you in business"? 
 Of course many will jump and say the obvious answers ...
 be my own boss,
 make lots of money,
 have no one telling me what to do,.
 freedom
 I know I can do better than my old boss
 and etc, etc etc.

Few of us would openly admit  that we are in business for more than material things and a drive to success.  

 I would like to add that we are in business because we are able to create an environment that we can help build a neighborhood, provide jobs, hope and opportunity.

Yes, we have to make a living and provide for ourselves and family and our employees.  But we also need to have a mission that is more than the accumulation of material things... we need a purpose bigger than the drive to success.

As the old year winds down and the new year is about to begin I invite you to find your  inner purpose.  I believe you will enjoy being in business a great deal more when you serve a broader mission. 
 One of the good things about  what I do for my business is how many small business owners I know, who   have found a way to serve their  community, creator and help others while building a business. 

Not only do our wallets need fed...our souls need to be fed. In invite you to take some time to reflect on what you as a business owner can do to make lives better. 
Peace on this Sunday to you and yours.

OWN Onyx Woman Network Interview on Pricing and Negotiating..J. Forrester with Ola Jackson

eTrouble at the North Pole..Elves Grumbling..Reindeer Picketing

TROUBLE AT THE NORTH POLE...ELVES GRUMBLING...REINDEER PICKETING...MRS. CLAUS REBELLING!

JoAnn R. Forrester

Empress of Biz

 

For the past few months we have been discussing the problems of growth and what can happen when a small business “hits it big”.

A good illustration of this is a small “Mom and Pop” toy manufacturer.  The owner, Mr. Kris Kringle,“a.k.a.” Santa Claus, shared his concerns about the business. Our business was established in 1620.  We have a net worth of 10 billion dollars and considerable real estate holdings. I am the 10^th generation of Kringles to head CHRISTMAS is US (CIS). As a family owned business we have been able to handle the demand for presents for children all over the world.

  We have developed an excellent manufacturing plant, great marketing system and efficient transportation system that delivers millions of presents on December 24.  Each year our customer base has grown and we have met the demand.  Unfortunately, the past few years has been very difficult on myself, Mrs. Claus, the elves, Rudolph and the rest of the reindeer,” shared Mr. Claus. 

“We have an overwhelming demand from the children for these new electronic toys and gadgets.  It has been almost impossible to keep up with all the updates and changes.  In the past, we only had to add a few new toys to our line each year--now its hundreds. 

 We have to modernize to meet the increased demand. Re-educate the elves on electronic devices, hire staff to deal with the demands of social media and develop a new interactive web site.  Our costs have skyrocketed and my banker, Mr. Scrooge, is dragging his feet about increasing my line of credit.  On top of everything, Mrs. Claus is upset because I told her the banker is demanding she has to computerize her bookkeeping and inventory.  I don’t know what I am going to do. The elves have always been a jolly lot.  Now they are grumbling all the time and demanding travel expenses and three months’ vacation.   Plus, the reindeer are asking for expense money for those additional trips to pick up material…and demanding I loose weight”. 

The following recommendations were given:

1.  Find a banker who has a different name than Scrooge.

2.  Hire an accountant to work with Mrs. Claus and give her two weeks in New York. 

3.     Establish a bonus system for the elves.

4.     Add more reindeer to the team to reduce the load.

5.     Bring on some younger elves to head the design team.

Happy New Year Folks..may it be a prosperous and productive year!

               

If you would like to learn more about growing your business listen learn and prosper  with the  Empressof Biz --Reinvent in Rugged Times on www.talkshoe.com Caller Id #80050  or we are syndicated on www. pplmag.com.  Or give JoAnn a call at 412-440-6969. 

 

 

Monday biz tip: Doing good & promoting your business

Monday Biz Tip:  What  are you doing to make sure people think of you and buy from during the holidays?  One thing you can do is pick a non-profit group you like and believe in,  and  ask your customers for support.  To make your effort "payoff" for the charity and promote good will for your business I suggest the following:

1.   Contact the organization you have chosen and find out their guidelines and what they need during this holiday season.
2. Make sure you have info about the group, so your customers or clients can see who you are supporting.
3.  Pick an item in your store that you have a good profit  margin and build a special around that item.  For instance..buy a coffee for $1.99  and a quarter goes to the charity.
4.  Keep a running total for people to see.
5.  Use  social media to promote your drive.
6.  Tweet your total everyday.
7.  Send out Press release to local newspapers..give them a call ask for their support.
8.  Besides your customers, get your employees, friends and vendors involved. People like to be part of something good and helpful
9.  How about a contest?  The one who brings  in the most money gets a paid day off.
10.  Most of all when you concentrate on doing good...and it will come back to you. .
Much luck with your campaign..make something good happen today.



 

PS.  My charity of choice is UMCOR.  www.umcor.org.  I like them for several reasons. One every dollar you give goes directly to relief.  the United Methodist church provides the overhead.  No high overhead..that impresses me.  Second:  They are often one of the first on the ground.  Third:  They are able to mobilize their congregations quickly to supplywhat is needed. 
Go to their website and check them out.  Have a great week and do something good for your business and others.

EMPRESS OF BIZ! Reinvent in Rugged Times

EMPRESS OF BIZ! Reinvent in Rugged Times - honors veteransm shares updates on Veteran affairs and interviewsThe Honorable Pamela Iovino who  has over twenty-five years of Federal Executive service. She is the former Assistant Secretary for Congressional and Legislative Affairs for the U.S. Department of Veteran Affairs. Prior to her Presidential appointment she achieved the rank of Captain in the United States Navy where she held numerous command posts, serving with great distinction. Secretary Iovino’s Executive Branch expertise includes strategic planning for implementation and execution of the legislative authorization objectives and appropriation requirements for the Department of Veterans Affairs and the Department of the Navy. Prior to her Senate confirmed appointment and assignment to the Navy’s Office of Legislative Affairs, she had very successful tours with Naval Network Warfare (integrated space, information technology, network operations), Naval Intelligence (anti-terrorism analysis), Naval Surface Forces Pacific (manpower and personnel requirements), and Naval Reserve (mobilization readiness - training, equipping, assigning of forces.) Secretary Iovino holds numerous awards and recognition from her military and federal service. Her educational degrees include a BA in Political Science from Gettysburg College, PA and a MA in National Security and Strategic Studies from the United States Naval War College.

PositivelyPittsburghNews--"Vietnam, That Time, That Place, That War" Gold Medal Military Writers Society America

PositivelyPittsburghNews--"Vietnam, That Time, That Place, That War" Gold Medal Military Writers Society America

Thursday Biz Tip: Nov 7 Join us for the Chocolate Blue & Networking Festival

EMPRESS OF BIZ! Reinvent in Rugged Times, JoAnn Forrester

EMPRESS OF BIZ! Nov 7 Join Chocolate Blues Business Networking Festival

What is a Chocolate Blues and Business Networking Festival? Besides Fun and Delicious.! "Chocolate Blues" is a giant business to business networking event that brings together hundreds of business owners and professionals. This event features a business expo, open networking, and best of all chocolate!
 Join  us anytime  on November 7 at the Kinglsey Center from 10 am to 4pm  for a grand time.  For free tickets shoot me an e-mail at the empressofbiz@verizon.net  and I will send it over.  Stop by and see me at the festival...Have a great day folks and as we use to say in the day..be there or be square!

Additional information for those who want to be a vendor contact James@bizfestival.com 
or 469-387-6169.

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EMPRESS OF BIZ! What's NEW & Useful, 7th Annual PA Business Technology Conference Nov 15:

EMPRESS OF BIZ! Reinvent in Rugged Times - Live & Recorded Episodes:
Hosted by: EmpressofBiz
Title: EMPRESS OF BIZ! What NEW & USEFUL in the Tech World? And Save Money Too
Time: 10/25/2012 09:00 AM EDT
Episode Notes: Want to know what NEW & USEFUL  in the exciting in the world of Technology ..then listen to our preview of Duquense University SBDC and their 7th Annual PA Business Technology Conference to be held on Thursday November 15, 2012. Christine Huges Training Manager will lead us in a review of the conference. Special Bonus from the Empress of biz--SAVE money use the Promo Code PBTC and get in for $99. 

Two of the workshop leaders, April Weitzel and Alicia Marie Phillips will be our special guests sharing details of their upcoming presentations.

 April Weitzel is speaking in our Building a Better Publicity Machine SEO Consulting by April offers internet marketing and SEO services for Pittsburgh companies. Offerings include: SEO services, social media marketing, PPC management, video optimization, online PR and More!

Alicia Marie Phillips is speaking in on Building A Better Publicity Marchine workshop Alicia Marie is focused on relationship marketing in a digital world. Do you believe technology is making the world a large, cold place? Are you struggling with gaining customers through digital mediums? Let Alicia show you how to use technology to build and foster long relationships with customers, which is where true success lies. The best motto is, if your business never gained another customer, how would you drive sales? With nearly a decade of in-the-trench business experience in both an entrepreneurial setting as well as with global leaders, her view is inherently unique.
 Join us tomorrow, invite a friend..SAVE MONEY..PROMO CODE PBTC on

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Monday Biz Tip" Survival thinking dollars vs prosperity dollars.

Good morning

Monday Biz Tip: It came to me this morning..most of us are so busy chasing 'survival dollars' that we "limp along to prosperity". Let's get moving folks. It is time to change our thinking to beyond today.

To change our thinking we must challenge ourselves to move beyond our "comfort zone".    We may not be happy with where we are..but we know where we are and we know the rules.   When we start to change..fear raises it ugly head..and often pulls us back.  Only when the situation is so desperate or we are so miserable -- do we move into action

Today's Challenge is: What can you and I do in our thinking and actions to make sure we are prosperous. One thing I know is to start looking at money as a tool... a VALUABLE RESOURCE...it is something you use to get the job done..to take care of your business, your family and yourself.

Action Step:  How many of you have a personal budget and stick to it. Does your family work together to control costs and save. Or does it take a "crisis" before you talk money.

Make it a great and prosperous day..Use that tool money wisely!

Start your budget today and change that limp to a run to prosperity.

Pricing Strategy..based on Feelings or Facts?

Pricing Strategy..what is it based on?  Feelings or Facts?

Empress of Biz, 

 JoAnn R. Forrester

Your sales have tripled...but your profit has not.  You have made adjustments, invested in equipment, hired staff and improved efficiency, and yet the bottom line remains flat.  What do you do next?   

The next logical step is one that often creates great resistance from owners…raise prices.  “What!  Are you crazy?  If I raise my prices I will lose my business. My customers will never stand for this.”   My answer to this strong reaction is, “If you feel your customers only buy because of your low price …then you are in trouble.  There is ALWAYS going to be someone who charges less.  So let’s find out why people buy from you.  It is time to remove the feelings from the pricing equation and look at the facts”.

 First we need to review your position in the overall market place.   Where do you fit? What is happening in your industry?  What are the pricing strategies?  Profit range? Where are the opportunities and possibilities? To find this information and more you can use one of our excellent  Small Business Development Centers to do the research and provide an unbiased data.

Meanwhile, while you are “patiently waiting” for results, you can start your own research” by a simple method.  ASK your customers, from the best--- to the one whom only buys from you as last resort.  Pick up the phone, and ask for input. “What is it about your business they like? Why do they buy? Convenience?  Comfort? Quality?  Unique product/service?   Superior performance?  Reliability?  Value? The only store in town?  Friendly Service?  Price?  Easy access to the Web?  Etc.

Make sure you ask your employees. Listen to them. They are your front line and have information you do not have.   Check the competition.    Are they higher or lower in price? What’s their reputation?    What are their strengths?  What are their weaknesses?

Think this method is time consuming and bothersome?  Yes it can be.  Just think Sam Walton of Wal-Mart. He built his empire based upon daily conversations with customers and employees. 

The answers are in, and most likely, PRICE is NOT the reason customers buy.  Now you can make decisions on changing your price based on facts not feelings. 

Watch for my next column  in the Pittsburgh Business Times in which we will discuss how to raise prices in a manner that is acceptable to all..

Thursday biz tip: When do they buy?

Thursday BIZ tip: When do your customers buy from you? Your customers buy at certain times..it could be daily, monthly, quarterly, or yearly.  It is important to know when they buy from you so you can "target" your marketing and leverage your ad dollars.  
 Like our hot dog stand..they may buy everyday or once a year. Of course you want the customer who buys frequently and you have to figure out what to do to keep your hot dog buyer coming to you. How about giving them a free drink or hot dog once in a while? Make sure you do something that lets your customer know you appreciate them.

Empress of Biz on PPLMAG

Hi folks

If you've missed some of the audios, videos or articles on Positively Pittsburgh Live Magazine or the Empress of Biz over the past week, you don't have to worry. 

Every week, we are creating a PDF version (a magazine that can be opened like an ebook on your computer or even your smartphone), and

• an online version that lets you actually turn the pages (and hear the page turning sound!). 

In both versions, when you click the link for the multimedia, you can download and listen to the audio shows, or watch the videos.

To view (and save) the PDF/Ebook version of Positively Pittsburgh's anthology of content from last week, just clickhttp://positivelypittsburghlivemagazine.com/PPLM-2012-10-08_14/PPLM-2012-10-08_14.pdf.

To view the online, turning page version of Positively Pittsburgh's content for last week, just clickhttp://www.PositivelyPittsburghLiveMagazine.com/PPLM-2012-10-08_14/.

If you'd like to have an article, audio show or video shared with the rest of Pittsburgh, click here to contact me.

Have a positive and successful week!

Joanne Quinn-Smith, Publisher

JoAnn R. Forrester

Empress of  biz  Talkcast Host

412-440-6969

http://www.positivelypittsburghlivemagazine.com/

Wednesday Biz tip: Customers..what do they buy?

Wednesday Biz tip: What do your customers buy from you? Your first response..my product/service. Surprise that is NOT the answer. When people buy from you..they not only buy your product..let's say a hot dog..they are buying to fulfill a need and the expectation that the need brings and that it will be meet.
For example: Take the hot dog.. your hungry, and this delicious  hot dog is going to satisfy that need. But why a hot dog? Why not a grilled cheese sandwich? Or a steak or caviar. Both of them satisfy hunger..but it is not what the customer wanted and he bought.  So what was the motivating experience?

Maybe it is  a money decision ..or maybe it is not! Most likely the customer has a hot dog  memory and with it, a set of expectations.  And when they purchase from you and for some reason it is  NOT a satisfying experience  --bye bye customer.
So when your are selling your product make sure you find out what they are buying besides the obvious. When you do....you will have a lot more repeat satisfied customers.
For more answers and guidance  on the hidden side of marketing look for my upcoming marketing workbook, "The David vs Goliath Approach to Marketing".
 Tomorrow we will discuss they WHY? 

Empress of biz reviews Center Plate. Penny Folino..the comeback Kid.

Hometown Tourists in Pittsburgh! Everyday Pittsburghers reviewing events as they see them. Reviews on Pittsburgh Cultural Events, Dining, Night Life, Arts and Business Events.

Monday, October 15, 2012

Center Plate Restaurant Takes Center Stage

Below is a review of new restaurant managed by Penny Folino that I wrote for the Roving Pittsburgher Report.  Penny is an excellent example of a busienss owner who had difficulties..but has survived them and is making a great come back.  Way to go Penny..you are back where you belong..in business.

Center Plate Restaurant Takes Center Stage

by JoAnn Forrester

94 Center Church Road, McMurray, PA 15317

724-260-5300

Penny Folino

Penny’s back and are we glad!

Below is a review

This past Saturday, TechnoGranny, Joanne Quinn- Smith and Nano Granny,  JoAnn Forrester, took a ride over the hill and through the woods to Penny Folino’s new restaurant, Center Plate, in McMurray Pa. It is easy to get to, right off Rt. 19 South at 94 Center Church Road.  It was a beautiful fall day and just right for a drive.  And if you had to get lost (and we did, no matter what TechnoGranny says), it was the day for it with a brilliant blue sky, comfortable temperatures and a full tank of gas.

It was a great day to eat at a new restaurant.  I am so glad that Penny opened up shop again.  This lady knows how to make you feel special and serve you scrumptious food.  Hooray for Penny!

 We had a great time talking to Penny Folino and her partner, Lenny, as they told us about opening the new place.  They emphasized how everything is cooked from scratch and everything is fresh and made there under the supervision of Executive Chef Matthew Hellen.  As we talked, we sampled the food.  Oh my!  It was good!  So good that both Joannes stopped talking just to eat for at least 10 minutes.    Now that is some kind of record.   Two Greeks and an Italian not only stopped talking but stopped gesticulating with their hands.

Penny and Lenny, Co-owners

Center Plate is open 7 days a week, serving breakfast, lunch and dinner.  We sampled a wide variety of food, from appetizers to soups to dinner to desserts.  Every dish was very satisfying.   Penny and Executive Chef Matthew Heller have put together a menu meant to please - and it certainly does.

For starters you have to try the crab cakes - no breading,  no fillers, just crab cakes deliciously seasoned.  Then the Bougatza Meat Pie, another fantastic item.   The Avolegmo (Lemon soup) has just the right touch of lemon, you gotta try it.

 Sausage Rustica:  Pasta with fresh tomatoes with a vodka sauce, roasted red peppers and onions. A dish you must taste.

Now the main courses.  I went for one of the great dishes on the Mac & Cheese Board, Mac & “Balls:”  Penny’s homemade  meatballs, chopped up and baked macaroni and cheese  with Parmesan cheese and  butter bread crumbs. Better than Mom used to make. I also sampled the Chicken Marsalla.  For those who love Chicken Marsalla it’s a must try. 

After all this food, we tasted a dessert:  Chocolate Pie and Almond Torte.  What can I say?  They were the final touch of a great evening.

The menu is reasonably priced and for those who live in McMurray, I am jealous. For the rest of us its about 6 miles South on Rt. 19 from South Hills Village.  Catering is also available for your special holiday needs..or anytime you  want to serve a special meal.

Oh!  By the way, Penny will be having a wine dinner on November 8 from 6 to 8:30.  A good way to taste wines and the foods that go with them.   Nice treat for special clients and those for whom you wish to do something nice.

In short, folks, make your way out to Center Plate in  McMurray Pa.  It is good to say, “Well, Hello, Penny.”  

She is back where she belongs.

Roving Pittsburgher Good News Reporter, JoAnn Forrester is the Host of "Empress of Biz, Reinvent in Rugged Times," a business Talkcast syndicated on PPLMag, Pittsburgh's First Internet Radio and TV Network.  You can hear JoAnn and Business friends every Thursday at 9 AM on the TalkShoe network or archived later at:  http://pplmag.com  Jo Ann is also a regular business tip columinist at the Pittsburgh Business Times.

EMPRESS OF BIZ! Reinvent in Rugged Times - Live & Recorded Episodes:

EMPRESS OF BIZ! Reinvent in Rugged Times - Live & Recorded Episodes:
Empress of biz interviews Sue Malone, the Money Lady..We discuss Updates on lending and when Should you Borrow..and when Should you Not.  Sue Malone has made over 41,000 loans and the Empress of biz has secured over $40 million dollars in loans. Listen to these two power house business women as they discuss money and how you use it.

EMPRESS OF BIZ! Reinvent in Rugged Times - Live & Recorded Episodes:

EMPRESS OF BIZ! Reinvent in Rugged Times - Live and  Recorded Episodes:
Join me this morning on www.talkshoe.com at 9am as I interview Andrea Williams, Executive Director of the Children's Sickle Cell Foundation as we discuss what it is like to run a successful non -profit organization during difficult economic times.
Remember if you cannot listen now you can always listen later on www.pplmag.com

Andrea Williams, BA, is the Founder and Executive Director of the Children's Sickle Cell Foundation, Inc. (CSCF).  She is the mother of four children, one of whom has sickle cell disease (SCD).  She is determined to increase awareness of SCD in order to make a positive impact in the lives of children affected by this often debilitating and often fatal disease.    

The mission of the Children’s Sickle Cell Foundation, Inc. is to provide quality programs

for children with SCD and their families, helping them to face the educational, social and economic challenges caused by the disease.  The commitment to SCD and sickle cell trait (SCT) awareness and outreach and support for research are natural extensions of this mission.  Programs include a year-round Educational Support, monthly Family Support, weekly wellness programs including the popular Learn2Swim and KarateFit Programs.  Community education and outreach programs top the list of priorities for CSCF. The need for community education has led to partnerships with the schools, churches and community organizations, where we provide information and resources for screening and education.  CSCF is the leader in SCD and SCT education in Southwestern Pennsylvania.

Wednesday Biz Tip. Grandma makes the difference

Wednesday Biz Tip:  What's the difference between you and your most successful competitor?  Instead of muttering about how "lucky they are", why don't you compare your business to yours?  They are doing something right and its up to you to find out what it is  and modify it to your use.
Example.  One of my clients wanted to know why his competition was doing so well. He had a competitor who had twice the sales and a smaller shop. When I surveyed the competitor we find out---  it was customer service and the way he had decided to handled phone calls.  All calls were answered promptly and pleasantly.  He had hired a retired worker to do the paper work and answer the phone.  That "customer relations move" had doubled his sales within six months.
The littlest things can make the difference.. And oh yeah..guest whose grandmother was put to work.  She's happy, the customers are happy and so are the employees..bakes the best brownies in the world.


If you would like more suggestion on how to boost your business   shoot me an e-mail or give me a call at 42-440-6969.

Thursday Biz Tip. Leader style..good? Bad? Indifferent?

 Thursday Biz Tip:  Employees can be a business owners biggest asset or biggest headache.  Your leadership style, good, bad, indifferent will dictate what they will be.  Think about it.

  What kind of leader are you?  

Want to know more?   Read below.

1. Are you the last one to now about a problem in your business?

2. Would your customers rather talk to someone else than you?

3.  Are you always saying there are "No good employees out there"?

4.  Do you have rapid turnover of employees?

5.  Would you rather fire someone  than give correct their behavior?

6.  Do you  defend family members and blame an employee for mistakes?

7.   Do you listen to employees suggestions on how to improve your business?

8.  Do your employees know more about your business than you do?

9.  Do you have clear guidelines for employees?

10. Do you make the time to thank employees for good work?

11.  Will your employees stay over voluntary if there is a crisis in the business?

12.  Is your business growing and is it profitable?

The type of leader you are makes all the difference in your business.  Good leadership is not genetic..it is learned behavior.

To learn more about developing your leadership style give us a call. 

 Remember... Good leadership is not genetic..it is learned behavior. 

Empress of Biz, 

JoAnn R. Forrester

412-440-6969

E-mail:  empressofbiz@verizon.net
              selfimagebz@aol.com  

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Weekend Biz Tip: Know yourself plus minuses

Weekend Biz thought: I am fortunate I love what I do. My business allows me to stretch myself in all kinds of ways. Sometimes my stretch to do something new..does not work. Then I have to re-group and figure out what I did wrong. Somethings I just cannot do something as well as I would like or just do not have the talent for it, or absolutely HATE it.

But I learn from my efforts. I now know what needs to be done by others and do not waste my time trying to do the impossible. 
Knowing your limits and getting good people to do what you cannot or do not want to do is a valuable lesson.

Take some time to review you.

a.  What is it that  you like to do?

b.  What are your strengths? 

c.  What you do NOT like?

d.  What can you give up? 

e.  Or pay others to do

Doing the above may give you a great deal more enjoyment in your business or profession and greatly improve your attitude.

Friday biz tip: 3 types of accounting, Tax-Cost-Yours

There are three kinds of accounting.. Tax accounting, cost accounting and your accounting. 


Question: Which accounting system is you running your business? 

COST ACCOUNTING vs. TAX ACCOUNTING vs YOURS

The largest difference is BETWEEN the GOALS of each.

Tax accounting is aimed at REDUCING the amount of tax owed.

Cost accounting is aimed at INCREASING the amount of PROFIT to the company.
Your Accounting..  Is a good way to fool yourself into the poor house.  
It is often based on magic numbers, sales that have not been closed and money not collected.              

For help in understanding the financial side of your business..give us a call at 412-440-6969.  
S. I.  Business Associates has been guiding small business to success since 1975 and we excell at helping our clients understand the numbers.  412-440-6969 or E-mail.  Empressofbiz@verizon.net 

Empress of bizi nterviews Sue Malone the Money Lady

Subject: Community Call Update: EMPRESS OF BIZ! Reinvent in Rugged Times

You have been invited by EmpressofBiz to join a live Community Call. EMPRESS OF BIZ! Reinvent in Rugged Times (Join in) Host: EmpressofBiz - selfimagebz@AOL.COM  Episode: EMPRESS OF BIZ! Sue Malone the Money Lady $$$update  Empress of biz is Sue Malone, The Money Lady. We will discussing our favorite topic Money, SBA and small business. And we will be chatting on What are the winning traits of a successful business owner. Join us as we share our combined experience of over 50 plus years (yeek) and share with you what we see as a winning combination. Call ID: 80050  Personal Message from the Host: Reinvention in Rugged Times is something we all must do right now, hear tips from a local entrepreneurs who have been there, done that, bought the T-shirt and seasoned business consultant, JoAnn Forrester with her additional tips to aggressively weather the current economic storm. Remember this too shall pass, just put on your goolashes and raincoat and get busy! Listen to archived versions of Empress of Biz at www.positivelypittsburghlivemagazine.com on SI Business Associates Channel Scheduled Time: Date: Thu, July 12, 2012  Time: 09:00 AM EDT  How to participate: Call in: Dial: (724) 444-7444 Enter: 80050 # (Call ID) Enter: 1 # or your PIN Join from your computer: Click here to join the call or just listen along (Optional) Become a TalkShoe member

Wednesday Biz Thought: Pricing your product on Feeling Or Facts Part !

 How do you price your product/service? Part I
Many biz owners price on FEELINGS ..not FACTS.


They look at the competition and Feel they can go lower than that ...and then they do.


 Basing your price on what you see others doing and what you FEEL can drive you straight to the poorhouse. 


Small Businesses cannot afford to act like Walmart.  If  you think people are only buying your service based solely on price..you are in trouble.  


There will ALWAYS be someone who will try to beat your price.


Establishing the RIGHT price is not magic or competing with the "guy" down the street. It is based on what you need to run your business to cover all the costs, labor, material, overhead including paying yourself a decent salary.  

Spend some time today observing yourself.  Do you internally gulp when you have to state your price?  Do you find yourself apologizing for the price?  Are you constantly worried about the competition and what they are charging--

OR  do you concentrate on what you can do to make your customer satisfied.

Observe and learn today and see what conclusion you come to.

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   S. I. Business Associates shared a link

   

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   Money remains still a problem for small business.  This story from TribLIVE.com might interest you.  A new loan program has finally passed , thanks to people like Sue Malone lobbying Congress.  I am currently working with her  to get the word out about the new loan program. 

   Here is the story..I worked with him all week and in the print version we have lots of graphs showing the decline of the lending.

   Use this link to read the story:http://triblive.com/business/1248632-74/business-loans-lending-recession-bank-banks-businesses-credit-sba-loan
   

   

   
   Regards,
   JoAnn Renk-Forrester
   selfimagebz@aol.com

   
   

   

   
   

   
   

   
   

   | TribLIVE | Pittsburgh

   
   

   

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