Getting Your Business to Work

Strive for more than mediocrity.

I spent the last week presenting 4 programs on ‘Effective Leadership, Building Customer Relationships, Pricing Strategies, and Nine Numbers You Need To Know’ to the Sage Software Summit in Denver, Colorado. There were over 2,500 people in attendance leaning how to improve their companies. Each of the attendees decided to move forward and make their companies the best they can regardless of the economy. Then I went to Phoenix to attend a western workshop of the National Speakers Association. I listened to several of the top experts in the United States present seminars on selling, branding, and internet marketing. I left with the realization that top companies in their marketplace make the most money and sell at higher prices. While the majority of companies struggle to squeak out a small profit fighting for the same piece of the pie. I came home with a list of 20 things to do to improve my business. I also realized that companies that don’t improve stay mediocre. What are your doing about improving your business? Is your company mediocre? Are you really willing to do what it takes to get your business to work the way you want it to? Or are you stuck, afraid to make a move, unsure what to do, unwilling to try new things, not able to trust your people, and comfortable with mediocrity. Mediocrity is owning a company that makes little or no net profit, competes on price, doesn’t have a unique differentiating factor from their competition, and doesn’t deliver what the business owner wants. Are you satisfied with being mediocre, average, achieving less than your potential, and continuing to struggle to keep it afloat? OR, do you want to: - Be the industry leader in your marketplace? - Sell more than low price to win customers? - Make lots more money than your competition? - Have the best people run and manage your business? - Be the owner instead of the overworked boss? - Generate lots of passive income from your investments? - Have plenty of free time to enjoy your family, friends, and fun? The choice is yours! Happy Thanksgiving & remember to thank at least 5 people for what they have done or mean to you. George Hedley CSP Certified Speaking Professional HARDHAT Presentations

Great Speaking!

I just spoke in Atlanta at the Air Conditioning Contractors Association annual commercial contractor roundtable event. Everyone was positive but cautious about the future and looking for ways to improve their business in anticipation of a slower economy. Great people and great energy. Successful business owners go to meetings and look for ways to improve. Do you? The next day I spoke at Hacker Industries to all of their licensed product applicators in New Orleans at their 25th anniversary convention. What a celebration of success. Hacker’s success is built on integrity, leading edge quality products, innovation, and service to their customers. This is the 3rd convention I have done for Wes & Kerry Hacker - the best people in the business and #1 in their industry. I followed Terry Bradshaw on the stage. His motivational and fun message to enjoy every day and be honest with yourself was fantastic. I presented my keynote program entitled: "The Economy's Slower - Now What?" and then I did 2 seminars on "How To Build Customer Relationships” and “Sell More Than Low Price!" Enjoy Everyday! George Hedley

Business Bail Out

The election is finally over and we have a new President, lots of hope and changes ahead. Some good and some better we all hope. Regardless, now is the time for business owners and managers to do something about your future. Don't sit and hope the government will bail you out. Don't wait until you run out of customers, jobs, or cash before you make those tough decisions you know you need to make. Don’t stay in your comfort zone doing what you’ve always done – it won’t work. Do something different now. Make tough choices about your customers, employees, managers, business plans, marketing, and sales. Don’t sit and wait until it’s too late. Do it now! As a business owner, your choice is simple. Do what you know you need to do and do it fast, or die a slow death. When I speak at large conventions on how to get your business to work, most people in the audience are afraid to make tough decisions, try new ideas, and do business differently. So they continue to hope their outdated business strategy will keep working as they tread water, sink slowly, and wait for something good to happen. Even if survival is your goal, you past methods will not work. Running your company the same way you always have will result in failure. Thriving will take determination, a decision to change, realistic leadership, and difficult choices. There are no guaranteed answers, but the strong will make strategic quick decisions. While others do nothing new or different as their companies continue to struggle. Here is a list of decisions and things you must do right now. What tough decisions should you make right now? 1. What do you need to do to make a profit and grow? 2. What should you do about your cost of doing business? 3. What should you do to attract new or better customers? 4. What should you do with your management team? 5. What should you do different with your employees? 6. Where are you wasting or losing money? 7. How can you be more efficient, faster or better? 8. What suppliers, subcontractors or vendors should be replaced? 9. Which services, products or projects should you stop doing? 10. What should you start doing differently? You must do these 10 things right now: 1. Set 3 year goals for sales, overhead and profit now! 2. Cut your fixed cost of doing business now! 3. Preserve cash now! 4. Cut your poor performers now. 5. Go visit your top customers now! 6. Seek new customers and markets now! 7. Look for new business opportunities now! 8. Increase sales and marketing now! 9. Increase spending on technology now! 10. Seek struggling companies to buy now! Don't forget why you're in business or go to work everyday: Your family, friends, freedom and fun. Take more time off (at least 2 to 5 extra days) this upcoming holiday season than you usually do. Relax, spend quality time, and find something new and exciting to try or experience. HAVE A SIGNIFICANT HAPPY EVERYDAY! George Hedley ************************************ HELP! I need book endorsements! My new book is at the publisher for editing, layout and typesetting. It is starting to build momentum as it is scheduled to hit the bookstores in June 2009. I am looking for well known people like Tom Peters, Donald Trump, or Bill Gates who will write an endorsement for me on the cover. If you have a suggestion or an introduction, let me know.

Do You Compete On Price?

Well I finally got our August 31st fiscal year end corporate taxes done. Unfortunately Uncle Sam got shorted this year as the economy and real estate market reduced my income. Think about the billions of dollars the banks hurt the economy by not qualifying borrowers the prudent way they should have. This caused the country to head into a recession and millions of people have less money than they need to get by. And as a result Uncle Sam will not get enough tax money to cover expenses. So I'm sure they will cut spending like you and I have to do to cover our rising costs and shrinking revenues. Or will they? I recently spoke to a very diverse group of audiences including modular building manufacturers, steel fabricators, spray foam contractors, art dealers, and the sales force at Solo Cup. Everyone is facing the same pressure: too much competition and rising costs. Steel prices were significantly raised by the mills last week even though the market is heading down. Who can figure? But the key to success in any business is to offer more than low prices. When you compete on price, you'll never make enough money to meet your goals. The Fortune magazine most admired companies list came out a few months ago. Guess what? The companies who top the list INNOVATE and stay ahead of their competition by offering new and different products, services, and ways to deliver more value to their customers. And they are making record profits. How about your company? What do you have to do to be better than your competition? Go visit your competitor’s place of business. Are you really any different than they are? If you had a choice, would you buy from them or your company? If all else is equal between what you offer and your competition, the only differentiating factor is low price. And you can’t make any money selling low price in a shrinking market. Need ideas, visit my website @ hardhatpresentations.com and look for one of my 100 articles to help your business grow. George Hedley CEO Hedley Construction & Development Inc.

The Economy is Slower....Now What?

Every day the financial institutions and banks get worse. Oil is up. Oil is down. Home prices are falling off the cliff. The government is running out of money. Taxes will go up. Consumers will stop spending and have maxed out their credit cards. The government has bailed out the banks. And Wall Street still doesn't know what to do. Do you? As I travel around the country speaking to business owners, they keep telling me it is different in their market area. They say: 'The economy isn't that bad and we are still busy.' 'I hope we don't have to change the way we are doing business.' 'I hope it doesn't affect me!' Get real! If you aren't planning for a 25 to 50% slowdown in your business over the next 2 to 3 years, you will go broke! (unless you are in alcoholic beverages, medical care, gasoline, or government services business.)

• Lenders have shut down all loans on every kind of real estate project. Get it? - NO NEW DEVELOPMENT PROJECTS.

• Consumers have stopped buying since they can't refinance their homes. Get It? - Retail sales growth is dead.

• Homeowners can't qualify for a new home loan. Get It? - No new homes will be built and construction products will sit on the shelves.

• People can't lease cars. Get It? - Anything to make or service cars will be slower.

What's your choice?

1. Stay put, do nothing, spend all your money and eventually go broke.

1. Decide to make drastic decisions about how you will operate your business.

Take a few days off and figure out what you need to do. Make a plan. And then make it happen. Thanks to the 100's of you who took part in our survey. Based on your input, I have added: “The Economy's Slower! Now What?" to my list of speaking topics available. Some of my clients have learned the time is now to do something. A few weeks ago, I spent 3 days in Mexico at Copachisa Constructora, a $140 million commercial design-build contractor, by helping them implement management systems. I also worked with their marketing executives to develop a plan to obtain more work from USA companies building in Mexico. What a great time I had with professional people working to build a quality and profitable business. I also spent two plus days with the management team and owner of CC&D construction company from Shreveport, LA.. We worked on developing a strategic direction and plans for their management team. We developed management goals, systems, and communication reports to allow their company to grow. We finished our time with me speaking to the entire company on the importance of organizational systems as the company grows, followed by a fish fry of fried catfish and shrimp cajun style – a first for me!