What Distinguishes My Business and Real Estate Investment Coaching and Consulting Practice From Nearly All Others and Is The Foundation of My Results Guaranteed Coaching Program

Fail Proof System!

There is a fail proof system to organize and manage any business. In fact cities and countries should use the system. Note this does not mean it is cookie cutter. It must me adopted for your company.

Successful Experience

I have extensive experience as an executive, business owner, entrepreneur, consultant and coach in the following industries:

Real Estate Investment – the focus of my business now
Retail
-Restaurants
-Convenience Stores
-Women’s clothing (big international business)
-Auto Parts
-Motorcycle
-Drugstores
Manufacturing
-Heave equipment
-high tech
-Auto Glass
Distribution
Internet
-Service Provider
-Social Media
-Marketing
Long Haul Trucking
Utility Trailers
Excavation
General Contracting/Construction

A number of the businesses are very large. One is more than $15 billion. Others are small to medium size companies and I have helped many independent entrepreneurs. This experience led to fine tune systems for success. Last year I released my first book “Building Business Profits Fast

Enhanced Systems

I have since been coached and mentored on enhanced system which are touched on in the book but not in-depth. The three main parts of the enhanced system are:

1. Organization Development or the Org Board
2. Admin Scale or The Spine
3. Management by Statistics

The scope of what are in these three categories is extensive. If we work together you will know the source and I will guide you step by step on how to implement these major tools. For now here is a brief summary

Org Board

Every company has 7 divisions and this applies to whether you are one person or millions. Knowing how to set up and manage your company within the structure of these divisions literally takes out the guess work in how to succeed. The next two areas actually fall under the umbrella of the org board – or at least that is how I think about it.

Admin Scale

My mentor refers to this as The Spine because like the human spine if one of the parts are damaged or out there is great pain. The Admin Scale consists of

Goals
Purposes
Policy
Plans
Programs
Projects
Orders
Ideal Scenes
Stats
Valuable Final Product

Before I continue with the last part I want you to know that my coaching and consulting work accelerates the implementation of all of this by my attention to what is most important now and the gradually painting the entire picture. My message to you is do not be intimidated by the scope of what I am briefly describing here. Welcome it because you are now learning about the processes that if followed mean you cannot fail. You cannot!

Management by Statistics – There are 6 Basic Statistical Trends

(From a priority point of view capturing the data and running the graphs are just about the top of the list. This specific tool is the  reason I can confidently offer

Results-GuaranteedResults Guaranteed Coaching 

Non- Existence
Danger
Emergency
Normal
Affluence
Power

I am including one example of one graph. Here is the important point: once you know the condition (what graph you are in) for any function, division or overall company performance there is a precise formula you follow for that condition. To follow it effectively the principles of the Org Board and Admin Scale must largely be in place.

affluence stat

Most of the detailed implementation steps that are published on my blogs and in my book are all used depending on the scope of the project. Going into all the details on marketing actions, The Gold Formula tm, Financial modeling, training and development is outside the scope of this article.

Schedule a Free Consultation and let’s see what will have the most value for you and your business. Click Here

 

Intellectual Understanding Does Not Mean You Will Implement 

One of my clients this morning told me the number one benefit of my program was keeping them focused on what is important.

In my experience people make a lot of progress during coaching and lose momentum if they interrupt the coaching process. For a Free Coaching Consultation Click Here  

May Your Success Exceed All Your Dreams and Desires

Steve Pohlit, Managing Partner
Steve Pohlit International, LLC Email Ph 727-587-7871
Connect on
Facebook http://facebook.com/buildprofits
LinkedIn  http://linkedin.com/in/stevepohlit
Twitter  http://twitter.com/stevepohlit

Steve Pohlit, Business and Real Estate Coach, Consultant, Real Estate Investor. Published Author, Professional Speaker
Steve Pohlit, Business and Real Estate Coach, Consultant, Real Estate Investor. Published Author, Professional Speaker

 

Success Mastery: The Basic Structure For Business Success

Success Mastery This Basis Structure Applies To Every Business

Clear Definition of Your Business – I use the phrase Executive Summary. Elevator Pitch is also very common. What is not taught very well is how to structure this for maximum retention by the listener and optimum value for your business. This area is supported by your business name and your domain name. Note: I do not focus on legal structure at this point unless you already have a level of experience with your business.

Why – So you have structured and are able to present your Executive Summary. Great now what is your Why for doing it? If your why is not big and bold enough you are will lose interest and focus. If you Why is because that is how you want to make money and your Why then is all about the money, your focus on what is required will wane and you will not achieve your business goals.

Results-GuaranteedNote: Each of these points for the foundation of my Results Guaranteed Coaching Program

Clearly Defined Outcome – This is always stated in measurable terms meaning revenue and profit if you are marketing products or services. If you are a real estate investor this is defined as business income – what you deposit in the bank from your deals that you can spend. The time line for this measurement varies depending on the business. However is almost always at least a year.

Define The Organization Structure Required When Your Business Is Fully Operational – Yes this is done in the early stages of the coaching program because business owners and entrepreneurs need to have a vision of what they are building plus the “Org Board” serves as a goal for building the team of people including outside resources that will help the owner or CEO achieve the intended results. This step in terms of the scope and detail that I know teach is actually new in the last 18 months.

Are you on my email list? If not – see the subscribe box on the upper right corner of this page. Do it now and start receiving very valuable Build Business Profits information.

Time Phased Income Goals – What this means is we take defined outcome goal which we previously said is normally defined as an annual goal and roll that back until we have agreed upon monthly targets and in many cases weekly and daily targets. We set this up on a proprietary program so you see the numbers and a graph of the numbers. This is the start of the process where you cannot fail if you follow it.

You are invited to connect with my Facebook Page http://facebook.com/buildprofits

Gold FormulaTime Phased Action Plans – Similar in principle to time phased income goals, I am sure you understand that income is an effect, action is the cause. However not every action results in income. So I spend a lot of time with clients on prioritizing actions and measuring the effect of those actions.  We use the same program where we set targets, measure actual statistics against the targets, graph both and use what the graphs are telling us as to the adjustments the actions that need to be made.  This is the implementation of The Gold Formula tm

This is the basic infrastructure of Building Business Profits Fast   the title of my first book. My next book is taking this foundation and going deeper into Building Real Estate Investment Business Profits Fast.  Again if your are on my email list you will be receiving excerpts from my books and more.

Intellectual Understanding Does Not Mean You Will Implement 

One of my clients this morning told me the number one benefit of the coaching program was keeping them focused on what is important.  In my experience people make a lot of progress during coaching and lose momentum if they interrupt the coaching process.

For a Free Coaching Consultation Click Here  

May Your Success Exceed All Your Dreams and Desires

Steve Pohlit, International Business  Turnaround and Real Estate Investment Coach, Real Estate Investor
Steve Pohlit, International Business
Turnaround and Real Estate Investment Coach, Real Estate Investor

Steve Pohlit
727-587-7871
Email 

 

Tampa Florida Business and Real Estate Coaching and Consulting Firm – Guaranteed Results!

Hello and thank you for your interest in my Guaranteed Results Coaching Program. Coaching and Consulting services are offered by my firm Steve Pohlit International. Most of the work is delivered by me personally. At times certain details are completed under my direction.

Take This For A Test Drive – FREE Coaching Session Click Here

Guaranteed Results Is A Bold Statement.

Let me be even more clear. We will agree on a financial performance target in the next 3- 12 months and you will hit it. If you don’t then we keep working until you do or you say stop and I will refund your money.

For Example:

You have a business with many employees and while you are working night and day your personal income is shrinking. No Problem
You are an entrepreneur and you want to get off to a fast start – maybe (I know God forbid) you are excited about MLM No Problem
You are an international company with many complex issues. No Problem
You are a real estate investor who has been taught by all of the Gurus and you are having difficulty finding or getting a deal done. I can offer a special program for you in Tampa Bay and Chicago where we guarantee you will do a deal and make money.
You are looking to buy a business or thinking of selling one. You will be well served by talking with me. I have a lot of experience in both sides of the transaction.
Send me an example of your situation and I will confirm I can help you or not.

I Understand The Weak Promises and Guarantees In The Market

They are offered with so many conditions that there is very little chance of you receiving your money back WHEN you are not happy. I have only two conditions:

1. We jointly agree on the daily weekly targets that will absolutely be measured
2. You complete the agreed upon work.

If you do these two things, you cannot fail. To start I need information from you so I can determine if you qualify. Part of the qualification process is a complimentary coaching session. During that session you will receive 1-3 ideas and tools that will instantly mean a huge difference in results. So if we are not a good match, you will still have my most powerful tool for getting results. Please Click Here to start

The Only Thing That Matters Is Your Success

Contact Steve Pohlit
Email
Click Here To Prepare for Complimentary Coaching Session
Phone 727-587-7871

Steve Pohlit, International Business Turnaround, Real Estate Investment and Life Coach
Steve Pohlit, International Business Turnaround, Real Estate Investment and Life Coach

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

John Reese Exposes The Truth of Multiple Sources of Income and Steve Pohlit Reveals How John’s Advice Works Off Line

John Reese Exposes The Truth of Multiple Sources of Income and Steve Pohlit Reveals How John’s Advice Works Off Line

I have been a subscriber of The Reese Report since it’s first issue. John offers sound advice on building on line based businesses including web sites that attract traffic that buys what you have to sell. John is one in a small group of people I have paid close attention too and who have helped me learn and bring value to my business development clients. I always recommend The Reese Report.

John has just released a video commentary that encourages you to focus on one targeted market as your primary source of income. If you are in business or want to be you should listen to his message. Click Here to watch this video. It is about 10 minutes and worth it.

Most of my work is with traditional offline businesses. This year I have worked with several contractors and retailers. In the past I have worked with manufacturing companies, trucking companies, companies operating multiple restaurants, drug stores, convenient stores and more. In each case a primary focus of my work with those companies has been A, B, C management. A, B, C management is simply defining those customers that represent 80% or more of your current and future income and the critical path tasks required to build and serve those customers profitably.

Not every project achieves the goals set out at the start. The single biggest reason a company optimizes performance and profits over time is that they consistently stay focused and execute on the A priority tasks that result in meeting and exceeding the expectations of their customers. The kind of focus John Reese is advocating in his video.

If A,B,C Management is the formula for success then why do companies hire a business development consultant? Good question and here is one example that illustrates the answer. Currently I am working with a very qualified and bright group of people in charge of developing and running their business. They know they are working hard and should be making more money. They also know what they should be doing and are not. They hired me to help them change the way they work. This company like every business I have worked with already has a full agenda when I walk in the door. The are finding the direction provided by the consulting process helps them modify their work to focus on what will make the biggest positive differences in their business long term. In the first week they agreed to several major actions that they have been procrastinating on for quite some time.

I am preparing a special report that addresses the key questions every business should ask when considering if they need a consultant and how to proceed in hiring one. In the meantime if you have questions you are encouraged to contact me by email or phone. All my contact information can be found at http://www.stevepohlit.com or in my resource box below.

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 now consults personally 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.

Converting Ideas Into Business Revenue and Profits

The following article by my friend Allyn Cutts offers excellent advise and is a courtesy of Steve Pohlit, Business Development Consultant who helps companies develop and implement business building marketing programs and organizational processes to optimize profit growth.

Are You Top Of Consciousness

How many great ideas have you had that fizzled and evaporated into thin air? Heck, they were darned good ideas too! The problem wasn’t the ideas, it was implementing them… making them work.

We’ve been talking about Top of Consciousness Marketing, one of the greatest marketing tools I’ve come across. Now it’s time to do a little strategizing about ways to make it work for you. There’s no sense in letting another brilliant idea vanish!

How often and how many ways could you contact a potential customer outside of normal visits to you place of business? Quick! Make a list…

Here are a few to get you going:

* Seasonal greetings
* Post cards
* Birthday cards
* Newsletters
* Catalogs
* Flyers
* Special sale notices
* Telephones calls
* Emails
* Thank you’s

Listen up, here’s the secret to effectively obtaining Top of Conscious positioning in the mind of your customers… finding 10 to twelve ways to contact them every year.

Newsletters are probably one of the easiest ways to implement a regular contact system with your customers and potential customers. A monthly newsletter written in an informative and entertaining style is something your customers and potential customers will look forward to. It’ll also go a long way in establishing your credibility as an expert in your field of business.

Who doesn’t appreciate a personalized “Thank You?” It doesn’t really matter if it’s a phone call, and email, a card or a bouquet. It’s the thought that counts.

Remember the pleasant surprise of an unexpected birthday card? Hey, it always feels good to have someone remember your special day.

The key to staying on at the top of peoples minds is simply getting their attention on a regular basis. Pick one or 10 of these methods and start using them to get the attention of your potential customers and to keep loyal customers feeling appreciated.

Stick around for some more great ideas on implementing Top of Consciousness strategies.

Dedicated To Your Further Success.

All the best,

Allyn Cutts

About the Author

Allyn has spent over 24 years helping businesses like yours find new customers and increase sales to current customers.

Allyn consults personally with clients to design and deliver offline and online direct marketing strategies that focus on metrics and measurable results. You can learn more about Allyn Cutts at http://AmazingMarketingStrategy.com or you can call 610.437.4106 between 10 AM and 4 PM Eastern Time Tuesdays and Thursdays
___________________________________________

Steve Pohlit develops and implements processes and procedures that grow revenue, maximize gross margin and optimize net profit. This approach is detailed in the free course “How To Increase Profits by 30% or More in 90 Days or Less” which can be found at by click here and “Blogging for Profits” which is another free series that can be found here at Steve Reports.

May Your Profits Grow and You Have Fun With The Journey

Steve Pohlit, Business Development Consultant

Time Management for Maximum Performance


Time Management for Maximum Performance

Several of my articles have focused on the importance of developing a customer and prospect database, a communication strategy and executing that plan. I will periodically remind you of the extreme importance of doing this and how that one area of your business will result in extraordinary profits.

This article is about your daily task list. I fined tuned my approach to my list during my completion of Dan Kennedy’s course on time management. Essentially this process is the same one that you should use for your business. The steps include defining your overall strategy of what it is you want to accomplish, assign a time-line to that strategy and then bring it back to what you have to do today to achieve your objective.

Since everyone has responsibilities outside of their career, this process should be extended to the spiritual and personal dimensions of your life. Achieving a balance can be very demanding because of the increasingly intense level of distractions. They include, cell phone, email, mail, newspapers, magazines, TV, Radio, iPod and more. Then there are the time required for your personal relationships.

My best days are when I plan them out in advance, make my list of intended accomplishments, check off the items on my list that I complete and don’t go nuts when there is something left undone. Uncompleted tasks are simply reprioritized and then added to a subsequent list.

My most productive periods are when I have a clear focus on defined near term goals that support the achievement of a measurable strategy. In addition, there are time lines for achievement and other people know and are tracking my progress. At the daily task level, the greater the sense of urgency, the more that is accomplished.

In summary, approaching the management of your own time is no different than the process of optimizing business performance. The principles of time management is the same. The free course “How To Increase Profits by 30% or More in 90 Days or Less” found at www.stevepohlit.com teaches these principles for companies. The free course “The Internet Profit Roadmap” found at www.theprofitexpert.com teaches these principles for entrepreneurs working to create successful businesses on line. For personal time management training as well as business development training, I recommend you get your hands on everything published by Dan Kennedy. I recommend starting with 3 month trial subscription of Dan’s No BS Marketing Newsletter. Click Here for Details

Steve Pohlit is a CPA, MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert business consultant focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue and profits by at least 30% in the next 90 days, please visit www.StevePohlit.com All articles published by Steve unless specifically restricted may be freely published with this resource information.

But Bill … My Business Is Different!

“If You Hang Out With Coconuts, You’re Going To Be A Coconut.” Rocky

You may not have been in Chicago but if you add this blog to your RSS feed reader you will not miss another article when it is issued. Why is that important to you? Here is one reason.

Recently I invested four days of my time and more than a few bucks with Dan Kennedy, Bill Glazier and over 600 of my closest friends all focused on further developing profit building skills. If you don’t know who Dan Kennedy is then go to this link. If you are in business you need to be reading Dan’s No B.S. marketing newsletter Click on this link for a three month FREE trial http://www.dk3monthspecial.com/your_freebie/

It’s too late to join me in Chicago, but add this blog to your RSS feeder by click on one of the links on the right hand side of this page because you will not miss another article. Since I will be giving you a number of valuable business building principles that came from the Chicago conference your are not going to want to miss any of it. Unless of course you are not interested in growing your revenue and profits.

There are conferences around the world every week. I attend on average 4-6 carefully picked ones every year. Conferences, resources I purchase from other experts and a growing network of very successful business owners form part of the foundation of my continuing professional development.

Now here are a couple very important points. You will benefit by making notes of these points. First: if you do not have a professional and personal development plan then you will have increasing difficulty, growing your business. The obvious answer is to have a professional and personal development plan based on you own strengths, weaknesses and interests. Second: while technology and global markets are advancing at lightning speed, the business and wealth building foundation principles are not changing, they are only being enhanced by different views.

The Profit System that I developed has business and profit building principles at its root. By the way, you can get most of this training absolutely FREE simply by subscribing to my six week course at www.stevepohlit.com The conference in Chicago reinforced this point as most of it centered on revenue building business principles that have been around for quite some time. So if they have been around for a long time, why is it that they still need to be taught? Well the facts are that these
principles are almost universally ignored.

What is the #1 foundation business building principle that we spent most of the 4 days in Chicago learning more about?

The Cow

Dan Kennedy told us that he has purchased a cow. Not just any cow but one that had long term value a measured by its ability to produce more cows and it has. So now one cow has produced more cows which are valuable and also produces embryos which are also valuable as they are implanted in other cows and the herd grows faster. The point is it starts with one and with the right action grows into a herd.

The Herd

This is the term used by Dan a lot in reference to the most valuable asset of just about every business. That asset of course is the customers of a business. Without exception, every successful business owner I have met or read about has achieved
success because they have developed a list of customers who trust them.

There are a number of ways to develop customers and in the next article I will cover the ones we spent of our time in Chicago discussing, why they work and what you can start doing now to make sure you are getting the highest return on you investment
in your marketing dollar.

P.S. If you are curious as to the reason behind the title to this article, I’ll tell you. Among the more than 12,000 members of Dan Kennedy and Bill Glazier’s Inner Circle, there is a small percentage of people who say to Bill “but my business is different.” The longer you read my articles and say to yourself “my business is different” the longer it will take for your business to realize its profit potential.

You know it the instant you see the person. It is apparent they have achieved an extraordinary measure of success and have the time to enjoy it. Steve Pohlit is an expert business consultant who developed The Profit System shows business owners how to achieve an extraordinary level of profit and the time to enjoy it. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue in profits by at least 30% in the next 90 days, please visit www.StevePohlit.com All articles published by Steve unless specifically restricted may be freely published with this resource box.

The Hidden Costs of Employee Turnover

Mike Ullman, the CEO of J.C. Penny since late 2004, estimates the company has saved over $400 million annually by implementing programs to reduce the turnover of valuable talent. Mike has further quantified this cost per employee leaving. Each one costs J.C. Penny about one third of that employee’s annual salary to replace.

If J.C. Penny only loses one third of the cost of an employee’s annual salary when they leave and need to be replaced, they are fortunate. I have seen huge costs associated with employee turnover including the cost of recruiting, training and relocation. There are also the less obvious costs of lost productivity, lost sales and a loss of control of assets.

J.C. Penny operates fairly large format stores supported by district and regional managers. In theory, if a person leaves there is a backup to cover the business while a replacement is found. The reality is that even in that situation productivity is compromised and customer service standards are at risk.

Consider a smaller format store with local or regional retail chain. Often the only backup is none or maybe the owner. I have seen many instances where a store cannot open because of inadequate staffing. When this happens too often, the customer base loses confidence and the profits decline to a point where a store may have to close. Look at the transportation industry where there continues to be an acute shortage of drivers. How many freight companies are losing revenue because they simply do not have enough drivers for their equipment?

In each of these examples, the cost of replacing an employee is far greater than 30% of the departing employee’s annual salary.

In one of the modules of my FREE course How To Increase Profits by 30% or More in 90 Days or Less, I cover key ways to minimize the turnover of valuable people. One is to make sure you do not retain and nurture mediocre performers. That is a major negative influence on talented staff. Another is to clearly define and communicate company performance goals in terms of how they relate to a person’s job and then answer the question “WIIFM” or What Is In It For Me?

Mike Ullman is right on point focusing on the company’s number 2 asset. Employees in retail and many other industries are key to developing a company’s number 1 asset which, of course, is it’s customers. If you know Mike, please compliment him on J.C. Penny’s vastly improved performance and please ask him to visit www.localretailmarketing.com which is a program that will definitely help him grow profits by customer.

A reminder: the FREE course including the module on human resource development is offered at www.stevepohlit.com I wrote the course and the human resource section based on my experience helping numerous clients across a number of key industries including retail, recruit and retain key people.

Steve Pohlit is a CPA has his MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert business consultant focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue in profits by at least 30% in the next 90 days, please visit www.StevePohlit.com All articles published by Steve unless specifically restricted may be freely published with this resource box in tact.

Develop A Customer Data Base, Communicate With Them And Beat 85% of Your Competition!

Maybe you don’t want to work that hard, or maybe you have been burned by consultants or maybe you already have a measure of success. No matter what position you are in, if you Do This One Thing you will beat 85% of your competition. If you are in the 15% category already, please email me with a sentence or two confirming how well this works for you. 

What we are about to discuss applies to every business large or small and in every industry. Next, this is easy to do, but it does require some work. Finally, when you do this consistently, you will make more money than you ever imagined. This action is at the core of what makes people happy.

OK, here it is: every business has customers. if you are a professional service business, your customers may be called clients or patients. At the transaction level they are customers. They buy something from you. Some people cross the path of your business and don’t buy. Others you call on and some buy and some don’t. With each action there is a contact and when you have contact you have an opportunity to make a record of that customer or prospect’ s contact information. That record can be as simple as a first name and email address. It may be comprehensive including complete contact information, biographical sketch, business history and so on.

The one thing you must do if you are in business is obtain the contact information of people doing business with you and people who visit with you but have not yet purchased. You must then use this information and let them know you are thankful and you are sincerely interested in continuing the business relationship. Yes, this applies to every business.

One of the questions I consistently receive is the concern of contacting customers using email. Think of it this way, for most people they are going to business to buy something they want. They will welcome properly positioned messages from you. When you communicate with them regularly with messages containing valuable information and offers, they will continue to support your business and tell all their friends about you.

In assisting clients with implementing a customer development plan I have confirmed the importance of a couple very important points: First you must have a clear privacy policy, next you must use a registration process that confirms their interest in receiving information from you (opt-in) and finally they must be able to easily unsubscribe from your mailing list at anytime. I do not recommend telemarketing to your customers. However, an email alerting them to be listening for an important voice mail broadcast can work and should be tested. Email should not be relied upon exclusively. It should be part of a comprehensive marketing strategy.

I offer all potential clients a complimentary call for up to one hour and most prospective clients walk away with five or more ideas they can use right now to grow their business profits. I highly recommend you take advantage of this offer before time constraints make it impossible to continue.

Be well and prosper,

Steve Pohlit

www.stevepohlit.com  

 

P.S. For more information visit www.localretailmarketing.com

Steve Pohlit is a CPA has his MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert business consultant focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue in profits by at least 30% in the next 90 days, please visit www.StevePohlit.com  All articles published by Steve unless specifically restricted may be freely published with this resource box in tact.