I’m right and you’re wrong! That attitude is a recipe for disaster in business and in life. If you want to keep your significant-other happy, telling them that they’re wrong is, let’s just say, not a good plan. Similarly, if you want to keep your customers, and employees, happy, telling them they’re wrong is counter-productive. The fact is that you can’t change anyone else’s mind. It’s not yours to change. It’s theirs. What you can do is provide them with information they didn’t have, and then they may decide to come to a different conclusion. Read More
Understanding and measuring the Return On your Investment will help you understand your business and take it to the next level.
If you’re like many wedding and event pros, it was your creativity that brought you into the industry, not your business acumen. To be successful, you need both. Once you decide to sell products or services, you need to develop your business skills and an understanding of the many ways to measure your success.
HOW DO YOU MEASURE SUCCESS? Any good financial advisor or consultant will tell you that it’s not what you make, it’s what you keep that matters. In the early years of your business, you should plow back much of your profits (if you have any) into growing your business. A growing business should invest 10%-15% of its anticipated sales into marketing and advertising—not 10%-15% of their actual sales; the higher sales number that they’re trying to achieve. Then, once you’ve gotten there, you can lower that percentage to maintain your sales. Read More
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I’m right and you’re wrong! That attitude is a recipe for disaster in business and in life. If you want to keep your significant-other happy, telling them that they’re wrong is, let’s just say, not a good plan. Similarly, if you want to keep your customers, and employees, happy, telling them they’re wrong is counter-productive. The fact is that you can’t change anyone else’s mind. It’s not yours to change. It’s theirs. What you can do is provide them with information they didn’t have, and then they may decide to come to a different conclusion. Read More
you into the industry, not your business acumen. To be successful, you need both. Once you decide to sell products or services, you need to develop your business skills and an understanding of the many ways to measure your success.