Author: Steve Pohlit

Managing Partner Time To Be Great, LLC Global Independent Distributor Healy, Vollara, Xelliss, BEMER Business and Real Estate Coach, Consultant Professional Speaker, Author

Part 2: My Response To The Blog Squad’s Question Is Social Networking A Waste of Tme

Consider there are a lot of people who are not on social networking sites and don’t even know what you mean when you mention it. At a recent meeting of 70 people in the age range of 20-75 with most in the age group of 40-60, I was mentioning Facebook and asked how many knew what I was talking about? 20% maybe knew and 10% used it. I think that number is representative for that age group and there are reports issued validating the number of users is growing each month.

Here is a peak at my experience with growing a network on Facebook. In literally three weeks my friends on Facebook grew from 9 to 389. In my network I estimate more than 90% of the people are most concerned about what they do and have no interest in what I do after we are connected. Many (and I have done this when I started) use the Facebook system to add numbers of “friends”. When I scan my friends list and the friends of a friend list I notice very few people have posted any recent news. This tells me there is a huge group of people not very active on Facebook – maybe 90%. I am a great example. I have been a member of Facebook for about two years and have been active for three weeks.

My conclusion is that the majority of people on line are not aware of social networking sites and of the people on these sites the majority are not active. That leads me to think that for people interested in developing business, spending time on social networks is a total waste of time like Patsi suspects. But wait a minute…

Social networking on line is only a little over three years old. The initial crowd was mostly college students and to some extent people in counter mainstream niche markets. That has changed. If you do a search on your favorite author, entrepreneur, spiritual leader or celebrity, you are likely to find they have a profile on a social networking site like Facebook or MySpace. Every author and speaker that interests me has video clips on YouTube. Every artist that I have every researched on YouTube has videos of concerts and more on YouTube. I love what is available to me based on my interests. I also feel very good about my growing network.

Many of those people and I share the same professional and personal interests. How do I know that? I have formed a couple of groups and people join. They wouldn’t do that if they didn’t have an interest.

Today there will be over 400 people who can view my profile, see a few pictures and understand my professional and personal interests. I have reviewed the profiles and commented no many of them. Every new person in my network receives a detailed message from me that includes a sincere offer to help them with ideas if I can. I have received almost zero notes in response to my offer.

I also openly tell everyone I am interested in building my client base and an ideal client for me falls into one of two categories: First a company in the retail, manufacturing, distribution, hospitality, construction or transportation industry that has 25 or more employees. Companies fitting that profile are ones where I use my on site program The Profit System for increasing their revenue and profit by 30% or more in 90 days or less. Second: for smaller businesses I am offering a coaching program that leads them through many of the same processes used for the large companies, only I am doing more of that work remote so it is affordable for the small business owner, entrepreneur and solopreneur (a term I learned on Facebook) And more than 400 new friends are recognizing that I offer very nice referral fees for new business.

By the end of May my network will be greater than 1,000 and there will be an increasing number of people from countries outside of the US who are Facebook friends with me. Will all of this mean more business? I have no idea. What is most important to me are the relationships I am forming. Do I have a relationship with each person in my network. Yes but the relationships just like anywhere else vary based on our respective interests and points of view.

I will tell you an interesting story about the lady who asked the question that resulted in me writing this series …Patsi Krakoff. I have known of Patsi for a couple years because I am a subscriber to The Blog Squad Blog (and you should be too  Click Here ). As new friends on Facebook I noticed several videos Patsi  posted for her Facebook friends network  and… well let’s just say a bright, articulate, attractive woman gets the attention of this single man. So I sent her a polite message that included the question: are you married? Patsi’s reply was wonderful. I truly felt she was flattered that I asked and then she let me know that she was very happily married. Of course I  wish her and her husband bliss forever.  Patsi and I are now a little bit closer from sharing that communication. You just never know what might happen on a social networking site.

I know from personal experience that for anything to develop, personally or professionally it is important for a person to be out there, sincere and have it in their hearts to contribute to the development of the community. With that posture the energy that returns is wonderful. I believe if you sit on the sidelines you are going to witness the spacecraft take off and not be on it.

In Part 3 I will conclude my response to Patsi’s question with information on a number of experiences in just three weeks of being active on Facebook. Remember this is just one site. You are not going to want to miss this article since what I have to share actually is quite stunning even for me to think about yet alone write.

Don’t miss Part 3 and all the future editions of Steve Reports. Subscribe to my blog (top right hand corner of this page) and the articles are delivered right to your email. How cool is that?

Until then consider this:

“The significant problems that we have cannot be solved at the same level of thinking we were at when we created them. ” Albert Einstein

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Part 2: My Response To The Blog Squad's Question Is Social Networking A Waste of Tme

Consider there are a lot of people who are not on social networking sites and don’t even know what you mean when you mention it. At a recent meeting of 70 people in the age range of 20-75 with most in the age group of 40-60, I was mentioning Facebook and asked how many knew what I was talking about? 20% maybe knew and 10% used it. I think that number is representative for that age group and there are reports issued validating the number of users is growing each month.

Here is a peak at my experience with growing a network on Facebook. In literally three weeks my friends on Facebook grew from 9 to 389. In my network I estimate more than 90% of the people are most concerned about what they do and have no interest in what I do after we are connected. Many (and I have done this when I started) use the Facebook system to add numbers of “friends”. When I scan my friends list and the friends of a friend list I notice very few people have posted any recent news. This tells me there is a huge group of people not very active on Facebook – maybe 90%. I am a great example. I have been a member of Facebook for about two years and have been active for three weeks.

My conclusion is that the majority of people on line are not aware of social networking sites and of the people on these sites the majority are not active. That leads me to think that for people interested in developing business, spending time on social networks is a total waste of time like Patsi suspects. But wait a minute…

Social networking on line is only a little over three years old. The initial crowd was mostly college students and to some extent people in counter mainstream niche markets. That has changed. If you do a search on your favorite author, entrepreneur, spiritual leader or celebrity, you are likely to find they have a profile on a social networking site like Facebook or MySpace. Every author and speaker that interests me has video clips on YouTube. Every artist that I have every researched on YouTube has videos of concerts and more on YouTube. I love what is available to me based on my interests. I also feel very good about my growing network.

Many of those people and I share the same professional and personal interests. How do I know that? I have formed a couple of groups and people join. They wouldn’t do that if they didn’t have an interest.

Today there will be over 400 people who can view my profile, see a few pictures and understand my professional and personal interests. I have reviewed the profiles and commented no many of them. Every new person in my network receives a detailed message from me that includes a sincere offer to help them with ideas if I can. I have received almost zero notes in response to my offer.

I also openly tell everyone I am interested in building my client base and an ideal client for me falls into one of two categories: First a company in the retail, manufacturing, distribution, hospitality, construction or transportation industry that has 25 or more employees. Companies fitting that profile are ones where I use my on site program The Profit System for increasing their revenue and profit by 30% or more in 90 days or less. Second: for smaller businesses I am offering a coaching program that leads them through many of the same processes used for the large companies, only I am doing more of that work remote so it is affordable for the small business owner, entrepreneur and solopreneur (a term I learned on Facebook) And more than 400 new friends are recognizing that I offer very nice referral fees for new business.

By the end of May my network will be greater than 1,000 and there will be an increasing number of people from countries outside of the US who are Facebook friends with me. Will all of this mean more business? I have no idea. What is most important to me are the relationships I am forming. Do I have a relationship with each person in my network. Yes but the relationships just like anywhere else vary based on our respective interests and points of view.

I will tell you an interesting story about the lady who asked the question that resulted in me writing this series …Patsi Krakoff. I have known of Patsi for a couple years because I am a subscriber to The Blog Squad Blog (and you should be too  Click Here ). As new friends on Facebook I noticed several videos Patsi  posted for her Facebook friends network  and… well let’s just say a bright, articulate, attractive woman gets the attention of this single man. So I sent her a polite message that included the question: are you married? Patsi’s reply was wonderful. I truly felt she was flattered that I asked and then she let me know that she was very happily married. Of course I  wish her and her husband bliss forever.  Patsi and I are now a little bit closer from sharing that communication. You just never know what might happen on a social networking site.

I know from personal experience that for anything to develop, personally or professionally it is important for a person to be out there, sincere and have it in their hearts to contribute to the development of the community. With that posture the energy that returns is wonderful. I believe if you sit on the sidelines you are going to witness the spacecraft take off and not be on it.

In Part 3 I will conclude my response to Patsi’s question with information on a number of experiences in just three weeks of being active on Facebook. Remember this is just one site. You are not going to want to miss this article since what I have to share actually is quite stunning even for me to think about yet alone write.

Don’t miss Part 3 and all the future editions of Steve Reports. Subscribe to my blog (top right hand corner of this page) and the articles are delivered right to your email. How cool is that?

Until then consider this:

“The significant problems that we have cannot be solved at the same level of thinking we were at when we created them. ” Albert Einstein

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Part 1: Response To The Blog Squad’s Question Is Social Networking A Waste of Time

I enjoy blogs and one of my favorite sites is operated by Denise Wakeman and Patsi Krakoff professionally known as The Blog Squad.

Their latest post addresses the value of social networking sites. If you are not exactly sure what social networking sites are look at Facebook, Twitter, My Space, You Tube for starters. I read that Facebook gets more traffic per month than Google and has an estimated value of $15 billion. Facebook started in 2004 so in less than four years having an estimated value of $15 billion is a great success story.

Valuation is not the important topic today except that it is an indicator of worldwide demographic trends of people connecting with people. If you spend any time at all on Facebook, MySpace or the other popular sites you will quickly understand that people are opening their previously private lives to the world. Of course there are text profiles, website links and more. What is really interesting are the pictures being posted and personal videos. Just yesterday John Reese, a very successful business professional and expert in the field of Internet marketing whose work I value tremendously, published pictures of his home inside and out. John has been very private about his personal life but is now cracking the door open on social networking sites.

Books and courses are being written about the value of social networking sites. However Patsi from The Blog Squad suggests this may all be a waste of time. She writes in part

“Last year at BlogHer Business, we heard about
Twitter. Just for fun, we both set up an account.
But it never caught on, or at least it didn’t for
me. Then I go over to Biz Tips Blog and find out
Denise has been sucked in. Even Leesa Barns of
Podcasting fame is in love with Twitter. Again,
I’m not convinced.

Curmudgeon and introvert, I’m now accepting new
friends into Facebook even though I’m not
convinced yet it will bring big business rewards.

So Denise and I are in two camps on these new
social sites for now: She’s convinced it’s worth
it, I’m still skeptical and am waiting to see how
it all shakes out.”

Patsi raises the question that has been in a lot of people’s mind. Is time on social networks time well spent? My answer is a resounding yes it is time well spent. The reason for my answer is likely to surprise you. In Part 2 of my response, I open the doors as to why social networking is very valuable. If you want this delivered right to your email you will subscribe to my blog

Until then consider this “The significant problems that we have cannot be solved at the same level of thinking we were at when we created them. ” Albert Einstein

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Part 1: Response To The Blog Squad's Question Is Social Networking A Waste of Time

I enjoy blogs and one of my favorite sites is operated by Denise Wakeman and Patsi Krakoff professionally known as The Blog Squad.

Their latest post addresses the value of social networking sites. If you are not exactly sure what social networking sites are look at Facebook, Twitter, My Space, You Tube for starters. I read that Facebook gets more traffic per month than Google and has an estimated value of $15 billion. Facebook started in 2004 so in less than four years having an estimated value of $15 billion is a great success story.

Valuation is not the important topic today except that it is an indicator of worldwide demographic trends of people connecting with people. If you spend any time at all on Facebook, MySpace or the other popular sites you will quickly understand that people are opening their previously private lives to the world. Of course there are text profiles, website links and more. What is really interesting are the pictures being posted and personal videos. Just yesterday John Reese, a very successful business professional and expert in the field of Internet marketing whose work I value tremendously, published pictures of his home inside and out. John has been very private about his personal life but is now cracking the door open on social networking sites.

Books and courses are being written about the value of social networking sites. However Patsi from The Blog Squad suggests this may all be a waste of time. She writes in part

“Last year at BlogHer Business, we heard about
Twitter. Just for fun, we both set up an account.
But it never caught on, or at least it didn’t for
me. Then I go over to Biz Tips Blog and find out
Denise has been sucked in. Even Leesa Barns of
Podcasting fame is in love with Twitter. Again,
I’m not convinced.

Curmudgeon and introvert, I’m now accepting new
friends into Facebook even though I’m not
convinced yet it will bring big business rewards.

So Denise and I are in two camps on these new
social sites for now: She’s convinced it’s worth
it, I’m still skeptical and am waiting to see how
it all shakes out.”

Patsi raises the question that has been in a lot of people’s mind. Is time on social networks time well spent? My answer is a resounding yes it is time well spent. The reason for my answer is likely to surprise you. In Part 2 of my response, I open the doors as to why social networking is very valuable. If you want this delivered right to your email you will subscribe to my blog

Until then consider this “The significant problems that we have cannot be solved at the same level of thinking we were at when we created them. ” Albert Einstein

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Possibly The Most Powerful Question ..Asked by Stephen Pierce and Steve Pohlit Replies

I highly recommend the blog DTalpha.com by Stephen Pierce. Today’s post is the question What Is The Cost. Click Here for the page with this message. It is absolutely outstanding.

The following is part of my reply. Read the entire post at his site

Certainly our most valuable resource on this earth is time. A some point the clock stops for all of us – no exceptions. Your message on the cost of inaction or ignorance is very important. For me the key is to understand what really blocks properly directed action including strengthening the right relationships, implementing the key steps in my business and allocating energy to the best information.

Click Here for the Stephen’s message and my reply plus comments posted by others.

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Stop Blaming The Economy..Or Anything Else For That Matter

I was using Comment Kahuna to build some back links recently. One of the most valuable features of this free program is that it surfaces some pretty cool high PR sites. Well one of the top financial market blogs had an article by an educator with all the credentials for teaching at a top B School. The article detailed the statistical difference between profit growth and cash flow growth in 2007. The conclusion was that another indicator was pointing to economic doom and gloom.

My response was that this was a perfect example of information that is likely to be completely accurate and totally useless. This is content designed to fuel negative thinking.

The facts are there are successes all around us and we can find them in any country and any economy. There are also companies in trouble and going out of business in any economy. Personally I have worked with business doing extremely well in a recession and ones on the brink of extinction in a booming economy. What are the key characteristics of success in any economy?

Success companies:

1. Have a very clear definition of their customer base and target market

2. Have clearly established performance goals for the company that are then redefined as goals and action plans for each function within the company.

3. Assign accountability for the action steps required to achieve the goals at the functional level.

4. Measure actual vs. plan on a timetable that makes sense based on what is being monitored. Cash position for example may be monitored daily.

5. Act quickly on variances from positive and negative variances from plan.

That is about it and while there is more detail at http://www.10minutemba.net , these five steps apply to every business and the emphasis is on every.

People fall into two categories. They either manage the business using the above five steps or use excuses like: it is the economy, or the dollar, foreighn competition, I don’t feel like it, I can’t expect them to do their job today; or “we’ll get to it soon” Do you want to find the successful businesses? The next time you meet a person who has makes no excuses, doesn’t complain about external factors and is generally on purpose, ask them what business they are in. I’ll bet it is a very successful one.

Steve Pohlit, Business Development Consultant and Coach
http://www.stevereports.com

Stephen Prierce Asks What Would You Do?

The lessons from Stephen Pierce at his blog DTalpha are excellent . Click Here listen to the message and my response below will make more sense to you. Stephen welcomes all comments

—————————————————

The answers come when we are grounded on who we are. Anger, resentment, stress serve no purpose other than to make us sick and in some cases become the source for some disease. However, all of us have traditional programming so while we still have an ego driven reaction it is best to let time pass in a situation like the letter which could be similar to a challenging situation with your child, job, business or someone you just met at a service station.

The severity of the situation will guide you to the time you need and the support of others. There is no substitute for a powerful network. My career accelerated the fastest when there was a continual stream of terrific people coming into my life. Now my business position is different but there is no shortage of outstanding people. Stephen Pierce for example provides guidance here and I am networked with him on www.facebook.com as well a other terrific people (join us).

On a higher level, for me it has been important to make a commitment to a life of peace and happiness. See several recent posts on this at http://www.prosperitytip.com

Wellness, happiness and prosperity to all
Steve
http://www.asktheconsultant.biz  

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There are two reasons why companies ask me for business consulting assistance:
1. They know what to do but want an independent third party experienced business development consultant to drive the process as that approach demonstrates management’s commitment to achieving the goals.
2. Management understands the need for improved performance and understands they do not have the experience to implement what is required.
3. There is actually a third reason and that is where a business is in a crises situation and turnaround business consulting procedures need to be implemented fast. Nobody likes that situation, even the consultant. However, many companies can be salvaged with the right action. Think of the what goes into action when a person has a heart attack. Timing and action are the differences between life and death.

Be Well and Prosper,
Steve Pohlit
Business Development Consulting
Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

FREE Blog and Hosting Package Just Released

Most know that I am an avid fan of WordPress Blogs. Just look at the links I have to Blogging for Profits and Blogging for Riches. I just completed a package offer as part of a giveaway promotion that offers FREE Blog set up and FREE Hosting for three months. Of course you are going to get a lot more with this.

My loyal subscribers to Steve Reports deserve to know about this offer and not only will you have access to my offer you will be able to pick and choose from many more very valuable gifts so Click Here For Your FREE Blog and Hosting Offer plus much more.

Be Well and Prosper,
Steve Pohlit
Business Development Consulting


Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

P.S. If you know a business that needs help remember I pay a very nice referral fee for new clients. I would love to write you a check that would pay for a new car.

The Exact Steps Required To Turnaround A Business That Is Cash Flow Negative (In Trouble)

I have led companies in the retail, real estate, transportation and restaurant industries from  near catastrophe to stability and profitable growth. Companies find themselves in a dire straits position for a multiple of reasons when the economy is strong as well as weak … more so when weak.

The current business climate is tenuous and an increasing number of businesses find themselves in a profit and cash flow crunch. If you or someone you know is in that position, time is of the essence. Literally every hour that passes is critical when a company’s profit and cash flow are on a downward trend. The faster action is taken to restore the business to a positive cash flow position, the more likely it can be further strengthened to renewed profitable growth.

The following steps are the major ones that I have guided clients through who have been in this situation:

1. Stop issuing checks until Step 2 and Step 3 are completed. The exception would be payroll and any utilities if you are at the point of being shut off if the bill is not paid. If you have a trucking company you have to buy fuel. If you are a restaurant you have to buy food. If you don’t have the funds to pay “life support costs and expenses” there are still options but they would have to be addressed on a case by case basis. You want to avoid getting to the point of not being able to pay the must have expenses.  There is a wide variation of the definition of must have items. The clients I have helped were very surprised at the literal definition of “must haves” but they thanked me later.

2. Be certain as to your exact cash and liquidity position. You need a very accurate snapshot of the free cash in your bank account, the quality of accounts receivables and a precise accounts payable listing that includes all invoices. You would be surprised as to how many companies do not know their actual cash position, ignore problems in their accounts receivable balances and forget that oftentimes there are bills sitting in unopened mail and desk drawers.

3. Develop an eight week cash receipts and disbursements forecast and don’t leave one cent off of the disbursements list. If you are not sure how to do this, there is an example at 10 Minute MBA This is a core schedule that I implement with all clients and is very valuable when used properly.

4. Document an organization chart with each person’s position and compensation.

5. If the business sells a physical product, it is important to evaluate the inventory. You cannot sell what you don’t have and you can’t replenish inventory if vendors have shut you off.

6. If there are debt agreements in place understand all debt compliance covenants.

7. Identify all critical support functions. For example, the company’s internet connection, maintenance agreements on machinery and equipment and key licensing agreements if any.

The goal is to have an accurate picture of all the facts no matter how dismal they are. I can’t tell you how many times I have been blind sided by additional pieces of information that were very important in finalizing the turnaround plan.

What Actions Are Typically Taken Once There Is An Accurate Picture of Situation?

1. Cut all non- essential spending and payroll.

2. Implement a temporary reduction in pay for as many people as possible. That is always difficult and may be impractical if there is a union or a large hourly workforce. Every situation is different but normally payroll has to be cut and it is often delegated to the outside consultant to handle.

Note: many of these steps are implemented quickly. Even while the entire picture is still being developed. That is where experience with these situations is very valuable. Experts with turnaround experience know how and where to act fast.

3. With people you want to take the action one time and then meet with those that remain and explain to them what is going on and how it is going to be fixed.

4. Vendors on the accounts payable list will need to be called and given a date when they can expect a workout plan. This is not fun work even for an expert consultant. However, whatever needs to be done to save the business and restore profitability should be addressed.

5. If there is a sales staff, look to move those people to full commission status and if possible add to the staff with full commission as the compensation package. Be careful if out of pocket expenses are paid. They have to be limited and per diems in place.

6. Assign clear accountability for collecting receivables and put in place a three step collection process. In certain cases discounts are negotiated for paying early.

Notice all the emphasis at this point is on cutting expenses and build cash once that process is in place then

Work on your building business and profits plan. Make sure it is realistic and focused on the next 90-180 days. When that is drafted including the financial projections you are now in a position to negotiate with bank debt holders, capital equipment lease venders and other long term lease agreements in place.

Some clients may need to file for chapter 11 reorganization. This should be avoided at all costs since it is very expensive, time consuming and a major distraction. However sometimes it is the only available option other than shutting your doors. Chapter 11 is usually the best answer where selling assets, selling the business or parts of the business is part of the the turnaround plan.

I hope this helps and while it addresses many points there are always more depending on the business. The following is right from my Turnaround Consulting Site

Do you worry about running out of cash?
Do most of your key vendors have you on COD?
Have checks issued by your business bounced?
Are revenue trends decreasing and accounts payable increasing?
Have any of your valued employees left for a “better opportunity”?
Are you spending all of your time fighting fires?
Do you wake up at night fearing you will be out of business?
Do you fear you will not have enough cash to meet your next payroll? What about the next?
Are you thinking or have been advised that a reorganization of your business under Chapter 11 of the US Bankruptcy code may be the answer?

“If You Answered Yes To More Than One of These Questions, Then You Need To Call Steve Pohlit at 727-587-7871 Right Now. That Is My Direct Line. I Will Personally Determine If I Can Help You Solve Your Business Problems or Refer You To Someone Who Can. This Call Will Cost You Nothing and May Well Save Your Company.”

____________________________________________________________________

There are two reasons why companies ask me for business consulting assistance:
1. They know what to do but want an independent third party experienced business development consultant to drive the process as that approach demonstrates management’s commitment to achieving the goals.
2. Management understands the need for improved performance and understands they do not have the experience to implement what is required.
3. There is actually a third reason and that is where a business is in a crises situation and turnaround business consulting procedures need to be implemented fast. Nobody likes that situation, even the consultant. However, many companies can be salvaged with the right action. Think of the what goes into action when a person has a heart attack. Timing and action are the differences between life and death.

Be Well and Prosper,
Steve Pohlit
Business Development Consulting
Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

The Exact Steps To Increasing Profits In A Challenging Economy

There is a very important fact to understand that applies to every business…”nothing stays the same”. The current business environment in the United State is one where the real estate market in general is one with declining property values, the value of the dollar is declining, and revenue for many companies is under pressure.

So!!!

Companies struggle because they continue to do the same things while everything around them is constantly changing. Every business, in theory, has a primary goal of increasing revenue and profits. The process of achieving that goal is no different in an economy that is experience major challenges in key sectors than in one that is vibrant. The introductory lessons in my 10 Minute MBA Program gives away the roadmap.

There are a huge number of examples of companies thriving and failing in both strong economies as well as weak ones. The only thing that matters for your business is what is happening in your business in relationship to the clearly defined performance gaols you have set. You have clearly defined business performance goals correct? These goals are in alignment with your own personal mission and lifestyle goals correct?

I am injecting the point about personal mission and lifestyle goals since I realized one of the key differences between many business successes and failures is the passion of the company’s leadership for the business and there is a direct link between the level of passion and the individual’s view of how the business contributes to the achievement of their personal mission.

For the record this goes way beyond achieving personal income objectives and includes: how much you really enjoy the business model; is your position one where you know you are using and developing the talents and skills you are passionate about and does your position fit in with how you want to develop the family, friends and community relationships that are important to you? I am now very focused personally and with clients on addressing the total picture of satisfaction and not just the business goals. Join the growing Prosperity Tip List that is FREE and you will be surprised at what this material will do for you personally.

Here is an example of a common situation that I have found in business. Business leadership will say, when the profits improve or when the cash flow improves or when this acquisition is done, or we fill this open position, or etc. then I will spend more time with my family or fishing or restoring my favorite antique or …well you get the idea. I submit to you the personal activity, whatever it is, never happens for those people even when those business milestones are achieved. If you are spending a lot of time with your professional mission, I hope you really love it. If you do not and you are frustrated because you are not spending time with your family, if you are not exercising like you should, if you are not enjoying your home, your car, your boat or your fishing pole then there is no way you will optimize the performance of your business. The negative personal energy will transmit throughout your organization and you will not consistently optimize your performance. If you have lifestyle issues, they need to be addressed. How do you think I know that?

Back to delivering what I promised with the headline of this article:

The Exact Steps To Increasing Profits In A Challenging Economy:

1. Set clear clear measurable performance goals for the next 12 months. For example: Revenue and profit goal is an increase of 30%.
2. Understand and instill in the culture that performance goals for the next 12 months are achieved by what happens today. All parts of your business need to be in sync with achieving the goals for the company. As and example what do sales need to be this week and this month to hit the 30% growth goal? What does gross margin need to be and with what expense structure for the 30% growth in profit goal to be achieved?
3. Each function within the business must have clearly defined performance goals and defined accountability for achieving those goals.
4. An objective performance monitoring process must be in place to identify quickly any areas of unusually positive as well as shortfalls in performance. For the revenue, gross margin and expense driver areas of the company this usually means a formal weekly meeting along with informal daily monitoring. There are exceptions and one is where there is a cash crunch situation. Cash flow is then monitored very closely daily.

There are two reasons why companies ask me for assistance:
1. They know what to do but want an independent third party experienced business development consultant to drive the process as that approach demonstrates management’s commitment to achieving the goals.
2. Management understands the need for improved performance and understands they do not have the experience to implement what is required.
3. There is actually a third reason and that is where a business is in a crises situation and turnaround business consulting procedures need to be implemented fast. Nobody likes that situation, even the consultant. However, many companies can be salvaged with the right action. Think of the what goes into action when a person has a heart attack. Timing and action are the differences between life and death.

Be Well and Prosper,
Steve Pohlit
Business Development Consulting
Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve consults with clients to design and implement processes that will deliver improved business performance for the long term. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting 10 Minute MBA or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

Stephen Pierce Just Posted Information On A Great FREE Resource

Here is my post to Stephen’s blog today:

I really appreciate this information. Gary Halbert taught the principle of marketing to people what they already are looking looking to buy. What better way than to identify solutions that people in the forums are seeking.

The resource you gave us is tremendous. It may be free but until we become aware, it is of no use. Now it is up to us to use this gift.

I am very excited to get started with this. There are no coincidences and based on what I am working on right now the timing of this arriving is perfect.

Steve Pohlit
http://www.stevereports.com
http://www.prosperitytip.com

PS Click Here For Stephen’s Blog

Tellman Knudson and Shawn Casey Just Released Valuable Free Material

Hello: I just finished reviewing most of the material just released by Tellman Knudson and Shawn Casey. This post is perfect example of viral marketing. When I find material I like, I write about it and suggest to my readers they check it out.

What did I like about the free book and videos that Tellman and Shawn just released? They demystify the most common myths about building a list and emailing that list. As part of that message you will learn their backgrounds. Make note of Tellman. This man demonstrated success on line in less than three years starting from nothing. Guess what….what he did was follow the Internet success road map. You can get a key component of that road map for FREE at http://www.listbuilding.com I am not an affiliate. I don’t think they even have an affiliate program set up yet. They are not paying me to write this. I just think it is “good stuff” and hope you do to.

What follows is the comment I posted to their blog. The link is published in the free eBook you receive when you join their list.

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Comments posted to the List Building blog by Steve Pohlit on March 29, 2008

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One of the lessons I enjoy the most in Tellman and Shawn’s book that is available when you register for the List Building material is that when you build a list some people will leave. Get over it.

For me this was a hard lesson to learn which is why I am studying the material that these guys are providing. And there is another lesson, look at the material that is being given. Does free make it useless or priceless?

I am developing a program in connection with a book that will be published this year on a popular topic. (see if you are interested at http://www.prosperitytip.com) What I know from conducting free live classes on this topic, that even with the answers clearly in front of people, many will sit back and think something will happen just by them thinking about it. I have read literal manifestation is possible, what is currently more predictable is taking focused action based on a proven method to achieve a goal. I have people who have told me how there life has completely turned around in a very positive way as a result of taking the actions they learned in the classes. Free – can be useless or priceless – it really is up to you.

I am a great student since I am setting new goals and I am a person who is fascinated by developments in business, self-development and technology designed for the Internet. This is precisely why I am paying close attention to certain material I have already studied. Like many people I would study the lessons understand them and then set them aside. Read Tellman’s story. He left Shawn’s book on his computer for three years. Then he took action. Guess what …I have had Shawn’s book for a lot longer than three years and unlike Tellman I didn’t buy a million dollar home last year.

All that is changing because of a clear focus and taking action using proven techniques for accomplishing a goal.

Thank you Tellman and Shawn for this material. I know there is work involved in making this available. I also recognize your mission of building your client base and compliment you on the methodology you are using to do that. You will have earned every dime that comes your way as a result of this process.

I welcome your comments.

Are you a business owner with revenue in excess of $5 million annually wondering if you are on the right track? Email Me to schedule a FREE 30-60 minute Consultation
Until the next time:

“If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around.”

Be well and prosper
Steve Pohlit

Steve Pohlit
Business Development Consulting
Steve Pohlit has more than 20 years experience running very large and medium sized companies. Steve now consults with clients to design and implement processes that will deliver improved business performance for the long term. Most projects are self-funding within 90 days. The client then experiences a very high return on investment. Learn more about the process of Increasing Profits by 30% or More In 90 Days or Less by visiting http://www.stevepohlit.com or you can call 727-587-7871 and speak with Steve directly. Have a question? Click Here To Visit Ask The Consultant

The Best Way To Prevent Destroying Valuable Customer Relationships and Business

I have no intention of making this blog a rant. Nearly everything published here is based on a lesson learned from first hand experience. I have learned my best teachers are those people and those situations that have attempted to cause me the most pain. The most recent example follows.

“Major Email Marketing Support Company Does It’s Best To Fire A Terrific Excellent Paying Client For No Reason”

The number of third party applications developed to support sending messages to large mailing lists is quite large. However at the really large volume level there are not that many companies that are rally in the game. However, landing a high volume, high profile account is time consuming and expensive. When a new account is added to the portfolio that is a moment that should be celebrated.

I work with a high profile company with a very large list of customers that are sent graphical promotions multiple times a month. A significant sum of money is spent for the third party solution that was selected last year. This number is growing as the list builds. The company does not mind because the campaigns I developed have exceeded the most optimistic projections.

For the past several week we have been building the structure for a new campaign and today was finally launch day. Launch day is really exciting because at the push of a button, we literally watch the traffic increase rapidly and the on line cash register ring ka-ching at a rapid fire rate. No matter how many times we have that experience it is always exciting.

At 4:30 PM we were ready. The time was perfect for our target audience. Several gathered in the control room and I was holding the launch button. Go – log into our account and ….hold on. Mission control we seem to have a problem. There seems to be a minute glitch with a very minor amount of fees that had not cleared our account. Not a big deal as I have access to several of the corporate credit cards that have, well let’s say plenty of room. Enter some data and bam – declined. Enter another card ..bam declined and account locked.

So now I call the company. The lady answering the phone had a very pleasant southern accent and almost cried on queue when I explained the situation. She asked me to hold while she frantically attempted to find someone in “billing”. A few minutes later she explained it was 4:46 PM on the East Coast where their offices were and everyone had left for the day.

I then had a brilliant idea. I will call sales since that is the department always aggressive for new business. I had a couple of cards I was prepared to play. Their voice mail said they worked until 6PM. But nobody was available meaning nobody was in and it was 4:48PM. I was out of options. Campaign on hold. From past experience I knew how much an overnight delay would cost in lost revenue and the picture is not pretty. Leave it go – deal with it in the morning.

Shift gears with me for a minute. I have built companies from nothing to reasonably good volume. The business I am working with now started from scratch. We understand the foundation business principles. We know all about the importance of serving customers. I feel very confident the owner of the email delivery sevice company whose employees were nearly all gone by 5PM would be able to give a long speech on taking care of the customer. So how does this all unravel?

I am glad you asked. First I will answer that question and next I will give you the solution to the problem.

What Happened:

We waited until the next morning then called. A lady in billing cleared the minor problem and said our account should never have been blocked. We agree. The mailing went out and we still had a successful campaign, but there was a substantial level of ill will. I asked to be contacted by the owner of the email marketing company. I asked to be contacted by customer service. I asked to be called by sales. The only response was about a week later a customer satisfaction form was sent to me and I never was called. Will the company select another email marketing service provider? We are evaluating alternatives

The Solution:

In every business I ever owned, worked in as an employee or worked with as a consultant, there was an “A List” Sure the goal is to treat every customer and prospect with respect and with a sincere attitude they are important. The art of the practical is the A List customers spend a lot of money and require a process in place to recognize when they need assistance. The best process I have found is have well defined accountability for these accounts. One point of contact that has the knowledge and experience to make a decision on the spot and knows when to obtain advice if necessary. There are other solutions but this one is absolutely the best.

I welcome your comments.

Are you a business owner with revenue in excess of $5 million annually wondering if you are on the right track? Email Me to schedule a FREE 30-60 minute Consultation

Be well and prosper
Steve Pohlit

PS This is not an isolated incident. I could write a completely different set of facts about a company that has a trouble ticket system we are looking to buy and another company that has a technology solution we did buy. Customer support is pathetic and represents a great opportunity for those dedicated to “walking the talk” of outstanding customer service.

Great Question Posed To Joel Comm On What Resources To Subscribe To – Not So Great Advice From Joel

If you do not know Joel Comm, just type Joel Comm into your search screen and you will soon learn Joel is an Internet marketer known for his work on Adsense and has now expanded the scope of his work. He is no longer betting the destiny of his business on one business model.

One of Joel’s newsletter subscribers recently asked advice on what newsletters he recommended. Joel produced a You Tube video to answer this question. First I love videos but I don’t want to watch one for an answer I can get in print in about 15 seconds. If you want to use video for a question and answer format then provide both print and video options.

Joel’s response to this question was to pay attention to what you feel is valuable and then stay subscribed to those newsletters. My view is that this is incomplete advice. I recommend you seek out the clear experts in your field of interest and subscribe to their newsletters. All they write about may not be of immediate interest and value to you. However, I am confident their material will have long term value for you.

There are a lot of people I pay attention to but only a few who have a big impact on me long term. I suspect you will discover this is true for you as well.

I welcome your comments.

Are you a business owner with revenue in excess of $5 million annually wondering if you are on the right track? Email Me to schedule a FREE 30-60 minute Consultation

Be well and prosper
Steve Pohlit