The Growth Coach: For Business Owners and Executives in Sugar Land, Katy, and the Houston Area

5 Marketing Strategies You Can Implement Today!

2012-02-13T06:53:00.000-06:00

There are numerous ways to Attract New Customers. Today you can identify a few key strategies and put a plan of action together. Marketing is a continual process that you must develop, implement and refine! Following are some tactics that you can incorporate as part of your marketing process.

Leverage indirect competitors to gain new customers. Indirect competitors are companies that you seldom go head-to-head with competing for business. For example, you could establish a formal referral relationship (swap leads, pay finder’s fees, share revenue, co-marketing, etc.) with an indirect competitor that is much larger or smaller than you are or in a different geographic region. Another example, a smaller CPA firm could establish an alliance with a large CPA firm and swap leads that don’t fit their respective niches. A small, traditional plumbing business could form an alliance with a plumbing company that focuses on doing only the tough, complex, big jobs. Leads could flow both ways.

Gain leverage from current clients/customers. Ask current customers for introductions/referrals to other potential customers or ask current customers to provide endorsements, testimonials, or serve as references. Always ask current customers about other unmet needs they may have.

Identify and cultivate complementary businesses as strategic alliances. For example, a technology consulting firm might want to form alliances with those that can help steer business their way (CPAs, software/hardware vendors, other non-competitive consultants, etc.) How do you find potential referral or alliance partners? Ask, “Who already has the trust and respect of our prospects?”

Make doing business easy, convenient, and risk free. Do not ask the other party to assume risk if they start a business relationship with you. Instead, communicate an unconditional, money-back guarantee. Don’t keep your guarantee hidden. Instead broadcast your guarantee. A credible and specific guarantee will bring in far more business than it costs you. Here is a simple example: “If you don’t find our technology training courses among the best you have ever taken, simply ask for a refund before the start of the second day and we will gladly return 100% of your money without any questions or delay.”

Use direct-response advertising. Don’t waste money on ineffective advertising. Always make sure any advertising contains a compelling offer/benefit and motivates the reader/listener/viewer to take action. Never advertise just an image. Advertise only to sell something. Track the effectiveness of your ads to generate leads and/or sales. If the ads don’t seem to be working, kill them. Never advertise to merely satisfy your ego.

Which of the above strategies make sense to you? Get started with as many of these strategies as you can. Nothing is more important than marketing your business.

Never lose sight of the fact that You are first and foremost a business owner in the MARKETING BUSINESS!!! Learn more about our marketing resources and our strategic retreats for business owners!

How to Make Your Sales Go Up in 2012!

2012-01-21T13:22:00.000-06:00

In today’s economy your sales could
go up or down! It all depends on you:

· Staying focused, accountable, and producing

· Improving your personal productivity

· Having a strategic, proven and repeatable selling process

· Overcoming selling fears, bad habits and self-limiting mindsets

· Being inspired and tracking your results

This is what Sales Mastery℠ is all about!

In Sales Mastery℠ you will grow personally and professionally
while being focused on accomplishing your goals.

Sales Mastery℠ is a unique, year-long sales coaching and accountability program designed to get you and your sales team to produce superior sales results.

Sales Mastery℠ is more than just “Sales Training.” It is an ongoing sales coaching and accountability process. It is a 12-month improvement process that addresses the toughest issues most sales professionals face.

Sales Mastery℠ is designed to provide ongoing coaching, and accountability every month so that you see immediate and long-term improvements in sales performance.

BEGINS: February 8^th (12-month program)
LOCATION: Fort Bend Chamber of Commerce, Sugar Land, TX
INVESTMENT: $175 per month (or $1,995 if paid in full)
FOR MORE INFORMATION: Call 281-841-6680 or G.Smith@TheGrowthCoach.com or see our website

Month 1: 8-hour Workshop (Feb 8^th) Months 2-12: 2½ -hours

How Much Do We Spend?

2012-01-02T14:25:00.000-06:00

Every day, the U.S. government takes in $6 billion and spends $10 billion. This means that every day the federal government spends $4 billion more dollars than it has. I wonder how long this can last. Do you?

10 Most Overused Words on LinkedIn in 2011

2011-12-19T17:27:00.000-06:00

Check out the 10 most overused words on LinkedIn in 2011. Here are a few: dynamic, effective, creative! Be sure you don't overuse these tired words in 2012. Also, be sure you are using LinkedIn to build your personal brand.

Social Media: What Do I Write About?

2011-12-17T07:05:00.000-06:00

I use Twitter and Facebook extensively. Social media is a powerful tool for building brand awareness, building relationships with customers, and demonstrating the value you bring to your customers/clients. You can follow me on twitter by following @coach4growth, or on Facebook by "Liking" The Growth Coach Houston.

Often people ask me what I post. I recommend that people use the "5 E's" which a friend shared with me a while back.

Make value-added tweets and posts that are:

Educational
Enlightening
Entertaining
Edifying
Endearing

Follow me and others and decide for yourself if our tweets/posts add any value. Be looking for the 5 E's!

Make More Time

2011-12-13T21:11:00.000-06:00

The Pareto Principle (often called the 80/20 Rule) says that typically, 80% of our results comes from 20% of our effort. Or to say it reversely, 20% of your time & effort is producing the majority of your results. If this is true, which typically it is, then it makes sense to try to identify that 20% which produces most of your results. I call this "The Trivial Many, The Vital Few."

One of the big issues that most business owners wrestle with is time management and personal productivity. An understanding and application of "The Trivial Many, The Vital Few" is the first step toward growth and improvement.

First, take a look at the bulk of your time and activity - the trivial many. I refer to these activities and distractions as "clutter." Make a list of all the things you do each day that are low-value, low-priority activities. Identify all the things that someone else could do if properly trained. Be honest with yourself about the time wasters and distractors. Most people, when they start getting honest with themselves, can identify at least a dozen items of "clutter." These are the things that fill the 80%.

Now what if you could reduce or eliminate half or more of those activities. How much more time would that give you each day? Each week? Start by delegating, downsizing, or eliminating these time wasters. Create a "Not-To-Do" List and stop doing those low-value, low-impact activities.

Next, identify those vital few things, the 20% that really do produce results. Limit it to 3 or 4 items. Ask yourself, "How can I spend more time doing these things?" Once you remove some of the trivial many, engage more with the vital few. You will be amazed at how fast you will see results and improvement.

You can make more time for yourself and significantly improve your productivity by simply practicing this exercise. We have all of our clients repeat this exercise every 90 days because clutter returns. That's just reality. Make this a habit and watch your effectiveness grow! For more tools and tips, check out our website.

Giving Thanks for 2011

2011-11-21T20:26:00.000-06:00

Good things happen when we are grateful! When you start your day with gratitude it effects your thoughts and emotions all day. When you focus on the things you are grateful for it minimizes the sting of the disappointments. When others sense our gratitude they typically respond with warmth and kindness. Gratitude effects everything and everyone in a good way!

That's why I love this time of year. Thanksgiving is a time to slow down, reflect, and give thanks for the freedoms we have, the family we enjoy, the friends we share our lives with, and the opportunities that we are given. I'm extremely grateful for my staff and strategic partners who help me serve others more effectively. Most of all Thanksgiving is a time that I thank God for health, life, energy, and grace. I believe that these are all gifts that come from a Divine Creator.

This Thanksgiving I'm also grateful to more than 50 wonderful clients who have allowed me to serve them in a meaningful way this year. It is a privilege to help men and women grow their businesses and their organizations. Even more gratifying is the privilege to help them grow as individuals, spouses, parents, and leaders.

As we begin this Thanksgiving week I want to thank YOU who read and follow my blog. I pray that the information and encouragement that you find here will serve you well today and for many days to come. Please join me in making this the most wonderful Thanksgiving season ever. And also join me as I seek to carry this Thanksgiving spirit with me every day of the year! What are you most thankful for in 2011?

Prepare and Create Your Annual Business Plan

2011-11-12T20:59:00.000-06:00

This is the time every year that I begin thinking about my annual business plan for the coming year! I've made a commitment to create an annual business plan for the growth of my business, and I do it every year. I encourage all of my clients to do it as well.

The reason it is important to start thinking about it now is to give yourself time to gather some basic information from both your financial statements and your personal reflection. This will also give you some time to just mentally process some of this information over a few weeks before you actually create your new annual business plan.

Between mid-November and the Christmas holidays I have 4 steps that I want to accomplish which will enable me to create a useful, powerful annual plan for the coming year. This is what I would recommend for you as well.

Review your current financial performance against last year & current year targets.
Analyze your successes and failures during the previous year.
Make a quick S.W.O.T. analysis - Strengths, Weaknesses, Opportunities, and Threats
Get 7 pieces of paper and begin brainstorming (one page for each of the following 7 areas.) What new ideas do I have (or can I come up with, or can my team & I come up with) in the following areas -

Marketing
Sales
Customer Fulfillment
Customer Satisfaction
Leadership & Organizational Management
Cash Flow/Financial Management (Income, Cost of Goods, Expenses)
Back Office (accounting, reporting, data management, receivables, etc.)

Once you complete these four steps you are then ready to start crafting your Annual Business Plan. The most important thing at this point is to keep it simple. Build your plan around 3 sections (1 page for each section):

Marketing Calendar - Decide what you want to do each month for the next year and create a Marketing Calendar.
Cash Flow Projection/Budget - Make a forecast of your income and expenses for the coming year and put it into a monthly budget.
Operational Improvement - Look at each of the 7 areas that you brainstormed (above) and set 1-3 S.M.A.R.T. goals for each area. Pace yourself through the year. We typically over estimate what we can accomplish in one month and under estimate what we can accomplish in one year. If possible, assign a "Champion" for each goal. If that's not possible, find a coach or an accountability partner who you will meet with regularly to report on your progress. Accountability & encouragement is essential for success!

For more resources and encouragement check out The Growth Coach Houston Blog, and particularly the Business Planning section.

The Top 50 Business Coaches to Follow on Twitter

2011-11-06T21:24:00.000-06:00

I was very humbled and honored today to be selected by Evan Carmichael as one of the "Top 50 Business Coaches to Follow on Twitter." Here is the entire list of business coaches. Thank you Evan.

If you are not currently following me on twitter please follow at @coach4growth.

Also, check out this blog post "The Key to Business Success: Take 100% Responsibility."

Work-Life Balance: One Day at a Time

2011-10-13T22:38:00.000-05:00

Today I had the privilege of leading nearly 100 executives, managers, and team leaders from BP through a workshop on Work-Life Balance. This was an amazing group of professionals who demonstrate an exceptional commitment to excellence. I was very honored to serve them.

Work-Life Balance is a challenge for almost every successful leader. Yet, from my observations, the best leaders are generally not harried, not overly stressed, and not obviously anxious. They lead with calm, confidence, and presence.

In order to maintain Work-Life Balance I recommend that leaders begin their day with reflection, review, and focus. Work-Life Balance has to be achieved one day at a time. The demands of leadership can be so great that if we fail to begin our day with focus and balance it will never be achieved.

Start with reflection. What are you grateful for? What can you learn from yesterday? What’s really important today? Who do you want to become? Where do you want to lead others? I tell leaders that the single most important task of leadership is reflection.

Next, review. Review your master to-do list. Review your goals and projects. (I encourage my clients to set goals every 90 days!) Review your calendar for the week. As you review, begin to create a “Must Do Today” list. These are things that you need to accomplish before the end of the work day.

Finally, focus. The way we focus is by going to our calendar and scheduling time to accomplish the items on your Must Do Today list. Create appointments with yourself to complete these critical tasks. I have found that if I don’t schedule it, there will be a high probability that the task will not get done on that day. By scheduling the task you make space for what is most important.

Once I’ve scheduled my Must Do Today items, I throw the list away and simply follow my calendar for the day. This daily discipline is essential for creating and maintaining Work-Life Balance.

Steve Jobs' Reflections on Death: Good Medicine

2011-10-07T06:10:00.000-05:00

Many of us feel a great loss with the passing of Steve Jobs this week. He truly was an amazing individual and an incredible entrepreneur. In his 2005 Stanford address he reflected on his battle with cancer and the reality of death. Inspired by a quote he read at a young age he said:

Everyday for the last 33 years I've looked in the mirror every morning and I've asked myself, "If today was the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "no" for too many days in a row, I know I need to change something.

From time to time I ask my clients to face the reality of our mortality. It's very uncomfortable. However, one of the things that made Steve Jobs the incredible individual that he was, was the courage to ask this question everyday! Steve went on to say:

Realizing that I'll be dead soon is the most important tool I've ever encountered to help me to make the big choices in life. Because about everything, all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have anything to lose.

He concluded his speech at Stanford saying:

Death is very likely the single best invention of life. It's life's change agent.

As you and I live each day I hope we will have the courage to ask ourselves the hard question that Steve asked himself everyday. This is truly a key to living an extraordinary life!

When You're Juggling, It's OK to Drop This Ball!

2011-09-06T06:49:00.001-05:00

In a 30 second speech, Bryan Dyson, former CEO of Coca Cola said this:

"Imagine life as a game in which you are juggling some five balls in air. They are Work, Family, Health, Friends, and Spirit and you're keeping all of these in the air.

"You will soon understand that work is a rubber ball. If you drop it, it will bounce back. But the other four balls - Family, Health, Friends, and Spirit - are made of glass. If you drop one of these they will be irrevocably scuffed, marked, nicked, damaged, or even shattered. They will never be the same. You must understand that and strive for it."

Work efficiently during office hours and leave on time. Business owners, create a life outside of your business. Give the required time to your family and friends, and take care of yourself!

Strategic Retreat for Business Owners

2011-09-01T21:14:00.001-05:00

We had a fantastic group of business owners meeting yesterday at the Fort Bend Chamber of Commerce. These entrepreneurs spent the entire day together challenging one another, encouraging one another, and planning together. I thoroughly enjoy getting to facilitate these quarterly Strategic Retreats.

The Strategic Focus for this day was around improving our sales process. Our assignment for the next 90 days is to review our Strategic Planner daily, create powerful questions for our selling conversations, and document our Sales System. I can't wait until we meet again in 3 months.

One of the goals of our 2-Year Program is to create a "turn-key" business. In order to do that each of us is working on a comprehensive Operations Manual. Our manuals will have 5 sections outlined above on the flip chart. Each section represents a major business system which will have it's own policies & procedures.

Systems is just one of several ways that business owners can gain leverage! Our goal is to WORK LESS, and MAKE MORE! Yes, it is possible but it requires us to gain leverage. Leverage is a term we talk about a lot.

One of the activities of our day was to create an Organizational Chart. Instead of creating boxes around people we create boxes around tasks. Then we come back and look to see how many of the boxes our owners are in. Our aim is to get out of some boxes every quarter! Ultimately we want to get our businesses to a place that they can run practically without us.

The biggest challenge in this process, however, is to develop the mindset of a Strategic Business Owner. Do you have that mindset? Do you know what it means to be a Strategic Business Owner? Click here for a copy of complimentary ebook Becoming a Strategic Business Owner. Consider joining one of our groups and challenging yourself! The ultimate goal: to create a profitable, predictable business while you own, and a business that is worth a fortune when you sell it!

5 Ways to Grow Your Business

2011-08-27T13:37:00.002-05:00

As I work with Fort Bend and Houston area business owners I continually remind them that there are 5 ways to grow your business. These 5 strategies should be a part of every small business marketing plan.

If you do not have an actionable, written marketing plan please contact me. I will be happy to sit down with you and sketch out a plan that will grow your business. Email me or call today. Our mission is to empower business owners to significantly increase the performance of their businesses! Click here for the 5 business growth strategies.

How Young Professionals View the Economic Situation

2011-08-21T14:59:00.000-05:00

The U.S. economy has young Americans rethinking career plans, putting off marriage, and avoiding the stock market like the plague according to a report from the Los Angeles Times. Also, fewer than half of Americans believe that the current generation will have a better life than the last, according to a Gallup poll this spring. It was the most pessimistic showing for that barometer in nearly three decades.

However, one of the things I'm encouraged about is that many Chambers of Commerce now have groups of young professionals. It has been an honor and privilege to work with and even mentor some of these bright, creative men and women. As a Houston area business coach I enjoy serving young entrepreneurs. While the current economic situation is still dismal, I'm more encouraged than ever by the up and coming talent in the business community!

If you are a young professional, here is a helpful resource to help you build your personal brand using LinkedIn. I'm always open to emails and contacts from young entrepreneurs!

Manage Email or It Will Manage You!

2011-08-08T07:13:00.002-05:00

Email is a serious problem today! Most business leaders I talk to receive 75-100 emails a day - some receive even more! Think about it, if you spend 2 minutes per email and you receive just 75 per day, that's 150 minutes a day on email - over 2 hours a day!

It is no wonder that email management is a common topic in coaching conversations!

One of the best resources I've found to help me and my coaching clients is the book The Hamster Revolution. Let me share with you some of the nuggets I've gleaned from this excellent resource.

First, many people come to the topic of email overload through the door of time management. As we discuss challenges with time management we quickly get to the topic of email. It's important to realize that this is not really a time management problem but an information-management problem!

Through email we receive too much information to process! As a result we spend way too much time trying to keep up. Our inboxes are overloaded. In fact, many admit to having several thousand emails sitting in their inbox. They are afraid to delete anything and they have no system for processing all this information. Over time more and more email accumulates.

Of course the rationale is that we can search our inbox for the information we want when we want it. But if you are never able to clear your inbox or if you are accumulating more and more information in your inbox, I can promise you that you are losing efficiency and wasting time!

Why? How can I make such a bold statement? The answer is simple: You have too much low-value information mucking up your world! You are like a hoarder who's house is becoming increasingly cluttered and packed with useless stuff!

The great temptation today is to over-value too much information! And the enemy is too much low-value information.

There are 4 strategies you will need to more effectively manage your email and your life. I want to develop these in future blog posts, but for now here they are:

Reduce email volume
Improve email quality
Educate others to send you more actionable email
Set up and practice an efficient filing system for email information

Does this interest you? I hope so. If you get control of your email you will discover that you can gain more control of your life! Plus, you will be amazed at the extra time you will have! As a business coach serving executives, business owners, and sales professionals in Sugar Land, Katy, and the Houston area, I am available to to help you work less and make more. I want to help you take your life and your business to the next level!

The Real Problem is Not the Debt Problem!

2011-08-02T15:24:00.000-05:00

The debt problem is a spending issue. Tax revenues are finite, while the growth of government is unceasing. By any measure, federal spending has skyrocketed, from $2.9 trillion in 2008 to $3.8 trillion in 2011.

The U.S. Government currently borrows over forty cents of every dollar it spends, and that number appears to be rising.

While increasing taxes will generate additional revenues and reduce the deficit in the short term, it will ultimately harm the economy, constrain economic growth, and encourage the out-of-control growth of government. To give more money to Washington is foolishness. The last thing the government needs is more money. It needs to cease its unwise and profligate spending.

3 Reasons Why the Debt Ceiling Debate is Phony

2011-07-17T16:01:00.001-05:00

What's the truth about the debt ceiling? Take a look at this video.

Business Success Requires Good Sleep

2011-07-16T15:57:00.000-05:00

Many entrepreneurs are high energy, driven people. These are often men and women who have vision, goals, and perseverance to get the job done. These are all critical factors that lead to their business success. However, there is one fact that many entrepreneurs do not realize:

Business Success Requires Good Sleep!

Yes, that's right! Energy, vision, and mental endurance are greatly enhanced when we as business owners get good sleep.

I recently wrote another blog post entitled Business Owners Need Sleep where I spoke briefly about what happens in our bodies when we sleep. I emphasized how important this is as we deal with the stresses involved in business ownership. If you're not convinced of what I'm saying here, please take a look at this previous post. As I mentioned there, I am deeply indebted to Dr. Brian Sekula for his mentoring and coaching in this area.

Here I want to offer some "How To's" that he has given me that are making a tremendous difference! These tips will help you create an optimal sleeping environment which will give you the important rest that you need for ongoing business success.

Turn off the bright lights before bedtime! I never realized how I was sabotaging my sleep until Brian pointed this out to me. Turn off the TV, lights, computers, and cell phones after 9:00pm. These are daylight simulating lights that confuse the brain and your hormones. Your body and your brain need 30 minutes to an hour to transition before going to sleep. These lights prevent you from making the important transition which leads to the healthy production of melatonin, which is required for good rest.
In bed, keep it completely dark. The darker the better! You do not want anything telling your brain that it might be daytime! If necessary, cover your windows with heavy material. Unplug or cover any lighted electronic devices in your bedroom. Keep it completely dark!
Start going to bed earlier. Too many of us work late into the night. This is typically counter-productive to good sleep. Discipline yourself to set a stop-time, and make sure it is at least 30 minutes to an hour before you go to bed. Let your brain transition so it can start producing the melatonin which is essential for good sleep. Also, over time, you will discover that getting up early will be much easier if you go to bed earlier! Pretty obvious right?

I hope you will seriously consider what I am saying. Good sleep is essential for good health and for business success. As a business coach who works with business owners in Sugar Land, Katy TX, and the Houston area, I see this need all the time. I encourage all of my clients to develop good habits that not only drive success but brings healthy balance through good priority management.

Yes, business success does require good sleep!

Facebook Hits 750 Million Users; Twitter Hits 200 Million Tweets Per Day!

2011-07-09T13:01:00.000-05:00

This week Facebook announced that they have hit the milestone of 750 million active users. Also, Twitter announced their milestone of 200 million tweets per day. “For perspective, every day, the world writes the equivalent of a 10 million–page book in tweets or 8,163 copies of Leo Tolstoy’s War and Peace. Reading this much text would take more than 31 years and stacking this many copies of War and Peace would reach the height of about 1,470 feet, nearly the ground-to-roof height of Taiwan’s Taipei 101, the second-tallest building in the world” (from Twitter Blog).

Business Owners Need Sleep

2011-07-03T12:02:00.001-05:00

Owning a business can be one of the most satisfying and rewarding experiences of our lives. However, it can also be extremely stressful! Keeping the cash flow positive, making sure we make payroll, taking the risks necessary to grow and expand, dealing with personnel challenges, keeping customers happy, on and on.

One of the key ways we process stress is through good, healthy sleep. Business owners need sleep!

Our bodies do many important things while we sleep. As darkness approaches our bodies naturally respond by increasing the sleep hormone called melatonin. As we allow ourselves to “wind down” from our day and fall asleep, melatonin continues to rise. Our body temperature drops and our body rests.

However, while our body rests our brain, circulatory system, and immune system are working overtime! They are literally “repairing” you physically, mentally, and emotionally. They are preparing you for another day.

As the repair process comes to an end, our melatonin levels drop and our body temperature begins to rise. As the melatonin drops, our body begins to produce another hormone, a stress hormone called cortisol. When this normal reparative process is complete, we wake up, refreshed and ready for another day.

When this normal sleep process is disrupted we suffer from sleep deprivation. Chronic sleep deprivation can lead to a multitude of illnesses including insulin resistance, which then can lead to hypertension, cancer, dementia, osteoporosis, and a host of auto-immune disorders.

Poor sleep can also significantly affect your mood, your perspective, and your ability to make good decisions. I cannot over-emphasize how important good sleep is to us as business owners.

I am deeply indebted to Dr. Brian Sekula for his personal mentoring and coaching in this area. To learn more about how you can improve your health or how you can help your employees improve their health, check out Becoming Indestructable.

Know Your Calling - Business Coach Serving Sugar Land, Katy, & Houston

2011-06-22T21:54:00.000-05:00

As a Houston business coach I frequently talk to clients about lead generation, referral marketing, business growth, and how to increase sales. Today I had the privilege to talk to one of my clients about something different – calling.

Now you may or may not view your work or your business as a calling, but from time to time I have clients come to the realization that they were made to be an entrepreneur. They were made to do what they do!

Michael Gerber talks about this in his book The E-Myth Revisited. He says,

            The question has often been asked of me, “What do the owners of extraordinary businesses know that the rest don’t?”
            Contrary to popular belief, my experience has shown me that the people who are exceptionally good in business aren’t so because of what they know but because of their insatiable need to know more.
            The problem with most failing businesses I’ve encountered is not that their owners don’t know enough about finance, marketing, management, and operations – they don’t but those things are easy enough to learn – but that they spend their time and energy defending what they think they know. The greatest businesspeople I’ve met are determined to get it right no matter what the cost.
            And by getting it right, I’m not just talking about the business. I mean that there is something uplifting, some vision, some higher end in sight that “getting it right” would serve.

When I talk about calling I’m talking about that “higher end” that comes from the heart and soul of the entrepreneur. Steven Covey calls it your “Life Mission.” Gary Keller calls it your “Big Why.” Rick Warren talks about being "Purpose Driven." Later in the book Gerber refers to it as your “Primary Aim.”

I’m talking about the vision and values that come from deep within. I’m talking about your passion. I’m talking about your core belief about why you are in the business you are in.

Do you know your “Big Why?” Do you lead and develop your business out of a sense of mission or calling? I think Gerber is right – that’s the difference between the extraordinary business owners and the rest.

My mission as a business coach serving Sugar Land, Katy, and the Houston area is to empower business owners to achieve exceptional performance in their businesses and to live extraordinary lives. However, this never happens until the business owner discovers and begins to live into their calling. Do you know what you were called to do?

The Danger of Heavy Taxation

2011-06-18T09:09:00.000-05:00

There's an ancient proverb found in the wisdom literature of the Bible that says "By justice a king builds up the land, but he who taxes heavily tears it down." (Pr.29:4) Heavy taxation will always tear down a society.

Here's the problem for Americans and all modern societies: There is no way to have government funded, socialized programs without continually increasing taxes!

Both wisdom and history tell us that as the tax burden increases on people and businesses it hinders production, reduces incentive to work, and thus inhibits the creation of wealth. As a result economies run out of money, which is why Margaret Thatcher use to say "The only problem with socialism is that you eventually run out of other people's money."

Socialism and socialized economies always lead to scarcity and eventual bankruptcy. It's that simple!

Unfortunately, heavy taxation is the direction that most governments pursue because of decreasing funds, self-serving agendas of politicians, and the inefficiencies of bureaucracies. The only solution is the elimination of government funded, socialized programs. But what politician has the courage to say that? And, who in society is really willing to take responsibility to help those in need?

Houston Business Coach Helps Entrepreneurs Create a Turn Key Business

2011-05-21T07:16:00.000-05:00

This week I am working with an outstanding group of business owners who lead carpet cleaning businesses. They are members of a national association called Phenomenal Products. My job is to help them turn their business into a turn key business.

As a Houston business coach I have the privilege of working with business owners both locally and nationally. The process of creating a turn key business begins in the mind! In order for an entrepreneur to make this journey they must first begin to see themselves as a Strategic Business Owner!

A Strategic Business Owner focuses their mind on leverage! They are continually asking themselves, “How can I get more leverage?” And by leverage I mean that they are looking for ways to get greater results with less time, effort, and headaches. They are learning how to work smarter, not harder!

Entrepreneurs will only get leverage if they get their minds focused! They have to see themselves more as a CEO not an employee. They have to believe that they can grow their business and work less at the same time. But this mindset shift is no easy task for many people!

A Strategic Business Owner learns to focus on the entire business, not just the technical work of the business. They learn to see their company as one that delivers an exceptional product or service to their customer, but they also learn to see themselves as building an exceptional company!

They work “ON” the business more, not just “IN” the business!

It’s exciting to see this mindset begin to develop in men and women who own businesses. They become more focused, effective, productive, and strategic. They begin to emerge into Strategic Business Owners.

The journey to creating a turn key business begins in the mind! Learn to become a Strategic Business Owner. Click here to receive a free copy of our book Becoming a Strategic Business Owner

LinkedIn: Build Your Personal Brand

2011-05-04T07:29:00.000-05:00

How much thought do you give to your Personal Brand? One of the best (but most underutilized) tools for building your personal brand is LinkedIn. Get some great tips at Your Personal Brand: Build It Using LinkedIn.

Join me and others at the Fort Bend Chamber of Commerce on May 11th for a powerful Lunch and Learn Seminar entitled Leveraging the Power of LinkedIn to Build Your Personal Brand.

Fort Bend Chamber of Commerce Grand Wine & Food Affair: Awesome Event!

2011-05-03T08:37:00.000-05:00

Congratulations to the Fort Bend Chamber of Commerce for putting on the Grand Wine and Food Affair this past week. Here's a quick video of some of the activity! Enjoy!

Referral Marketing Strategy - 3 Helpful Tools

2011-03-17T06:50:00.004-05:00

Want to create (or improve) a referral marketing strategy? Here are 3 resources that you will find very helpful. Check them out!

"5 Reasons Why Customer Satisfaction Does Not Generate Referrals"
"What Motives Someone to Give You a Referral?"
"The Objectives of a Referral Marketing Strategy"

Let me know what you think about these articles!

Becoming a Strategic Business Owner: Step Three - Find Your Leverage

2011-03-06T16:45:00.000-06:00

Whenever I tell business owners that they can (and should) work less but make more money they look at me like I'm delusional. But it is true! The key is leverage.

Archimedes, a 3rd century Greek philosopher once said, "Give me a lever long enough...and single-handed I can move the world." He understood leverage. Almost every business owner I know needs to find their leverage. The question is, where do we gain leverage?

There are many ways we can gain leverage. Let me list a few for you here, and if you want to learn more download our FREE article "7 Ways to Gain More Leverage and Work Less."

Leverage Marketing. Every business owner I talk to knows they need to market but most do know feel like they understand marketing very well. As a result, they do not know how to really leverage the power of marketing. As a business coach, one of the things I mentor my clients on is how to create a lead generation engine utilizing affordable marketing strategies.
Leverage Your Strengths. All of us have strengths and we have weaknesses. Don't spend too much time and energy working on your weaknesses. All you will end up with are a little stronger weaknesses. Spend most of your time and energy developing and working in your areas of strength. That's where you will find leverage.
Leverage Systems. Think of your entire business as a network of systems. You have a marketing system, a selling system, a fulfillment system, administrative systems, and people management systems. The stronger your systems the more leverage you will find. Remember this acronym; A system will:
S.ave
Y.ou
S.tress
T.ime
E.nergy, and
M.oney

These are just 3 of the 7 things you can leverage as a business owner. As your virtual business coach I want to provide you with resources to help you grow your business, make more money, and work less. Be sure to download the article "7 Ways to Gain More Leverage and Work Less." If you are in Sugar Land, Katy, or the Houston area, contact me for a complimentary strategy session to help you create a turn-key business!

5 Management Mistakes First-Time Business Owners Make

2011-03-03T17:18:00.000-06:00

When you’re running a business for the first time, you’re bound to make a few management mistakes. Since owners are typically experts in the products or services their businesses provide, they often get caught up in the technical aspects of the company, rather than developing strategies to manage and grow it.

But that’s the last thing you should do. “At the end of the day, you’re creating an organization and philosophy that embraces your people, because they are your most important asset,” says Greg Scheingold, president of The Growth Coach, a business coaching franchise system based in Cincinnati.

Scheingold shares some common management mistakes of first-time owners—and tips on how to avoid them in this article 5 Management Mistakes First-Time Business Owners Make.

Becoming a Strategic Business Owner: Step Two - Shift Your Mindset

2011-03-01T06:49:00.000-06:00

The significant problems we face cannot be solved at the level of thinking that created them. -Albert Einstein

In order to take your business to the next level you must become more of a Strategic Business Owner. The first step in becoming a Strategic Business Owner is to face reality. Now consider the second step: Shift Your Mindset.

There is a direct cause-and-effect relationship between your results and your actions or behaviors. Behind all of our behaviors is a mindset. It is our mindset and behaviors that lead to the results we experience. I can't stress this enough!

The key to changing our results is changing our behaviors. The key to changing our behaviors and habits is changing our mindsets. So in order to become a more Strategic Business Owner we must first shift our mindset. But what does this look like?

Most of us got into our businesses NOT because we were great entrepreneurs, but because we had a skill, trade, or passion that we wanted to pursue! We were TECHNICIANS, and technicians think and work like employees not entrepreneurs. To grow as an entrepreneur we must shift our mindset from that of an employee (or worker) to that of a CEO (or leader). This is crucial!

Many business owners are former technicians now masquerading as entrepreneurs. They think they are entrepreneurs, but they don't act that way. As once accomplished technicians, they have a hard time letting go of such familiarity and expertise. They remained trapped in a technical mindset and work approach. As a result they often fall short in the areas of leadership, marketing, vision, strategic planning, and delegation (the characteristics of a Strategic Business Owner.) This often leads to the business owner blues!

To become a Strategic Business Owner you MUST shift your mindset! You must begin to think and act more like a CEO/Leader instead of a technician/employee. But how do you make this shift?

You must first acknowledge your technical bias, your addiction to being busy, and your uneasiness with delegation. Next you must adopt the "big picture" mindset of a Chief Executive Officer (CEO). Then, as CEO, you must begin to make it a priority to spend more time working ON your business instead of always just working IN your business.

As soon as possible (i.e. within the next 2-3 weeks) schedule a full day Strategic Retreat for yourself to get away from your business to think, to face reality and evaluate, to reflect, and to plan. Spend a full day working ON your business. Begin reading our book Becoming a Strategic Business Owner (download it here) to help you shift your mindset. And if you need more help, contact me and I will gladly give you a complimentary 30 minute coaching session to help you plan your day and get the most out of your Strategic Retreat.

As a business coach serving the Houston, Katy, and Sugar Land areas I thoroughly enjoy helping business owners make the shift from a busy technician to a dynamic entrepreneur.

Becoming a Strategic Business Owner: Step One - Face Reality

2011-02-28T16:29:00.003-06:00

Most of us started our businesses because we wanted to have freedom, flexibility, fun, and fortune! But how's that working for you?

Can you walk away from your business today for one or two months and come back to find it operating smoothly and profitably? Can you even escape for two weeks? When was the last time you took a vacation without calling in almost everyday?

What happened to your vision of freedom and fun? Do you really own a valuable business that could be sold to someone else, or do you just own a job? What about that dream of fortune? Is your business producing the income you want and expected? Or do you work too much for too little return?

These are important questions that every Strategic Business Owner asks him or herself. In fact, I do not think you can ever become a Strategic Business Owner without asking yourself these questions. This is how we face reality!

The first step to becoming a Strategic Business Owner is to look at your current reality. The late Eric Hoffer once said, "We lie loudest when we lie to ourselves." We must be brutally honest with ourselves about where our business is today.

Many (if not most) business owners habitually suffer from generalized feelings of anxiety, mental fatigue, and of being trapped in the business. They feel like prisoners and have lost hope of freedom, flexibility, fun, and fortune. I call this the business owner blues!

You don't have to live this way. The key is to becoming a Strategic Business Owner. And to do this you must begin by facing reality. Nothing can be changed until it is faced honestly. Take a look in the mirror. Think about what's working well and what's not working well in both your business and your personal life.

I hope you will begin following our blog as I will be guiding you out of the business owner blues and onto the path of becoming a Strategic Business Owner. I want to help you rediscover the joy, passion and blessings of being a business owner.

As a business coach serving Sugar Land, Katy, and the Houston area I help entrepreneurs everyday improve their businesses and their lives. Let me be your virtual business coach through this blog, or call me for a complimentary 30 minute consultation. Facing reality is step one. Here's step two!

How to Create a Great Blog

2011-02-26T12:07:00.000-06:00

Great video with Chris Garrett on how to create a great blog. Enjoy!

sme_bw2010_chris_garrett_v2 from Michael A. Stelzner on Vimeo.

Referral Marketing Strategy: "Nobody Talks About Boring Businesses"

2011-02-08T07:19:00.000-06:00

“If the marketplace isn’t talking about you…there’s a reason. The reason is that you’re boring. And you’re probably boring on purpose. You have boring pricing because that’s safer. You have a boring location because to do otherwise would be nuts. You have boring products because that’s what the market wants.” - Seth Godin (from The Referral Engine by John Jantsch)

Jantsch goes on to say, “To build a business, territory, or practice based primarily on referrals, you must first discover or create the remarkable thing about you or your products, the thing that gets people talking, that almost forces them to tell others about you. Boring people, products, and companies are hard to refer!”

You want referrals, but why would your customers refer anyone to you or your company?

Do you offer a noticeable level of customer service that makes you stand out from your competitors? Really? I hear many people talking about their "outstanding service" but often I have a hard time seeing how they are any different. If it's not noticeable, it's not remarkable. And if it's not remarkable, it's boring.
Does your product or service do something that makes you stand out? Do you really provide a remarkable product, process, service, or outcome? Or, are you pretty much just like everyone else - boring?
Do your people treat prospects and customers in a way that the customer walks away saying, "Wow! I really like the way I was treated. I don't get treated like that very often." If not, you're just like everyone else - boring.
Do you deliver so much value that the people you serve don't really question the price and they aren't always looking for a "cheaper" solution? I know, everyone wants the best price, but your customers are not inclined to "price shop" because they feel so good about the additional value that they receive from you. Or, are they bored with what they are getting?

If we want to build a strong referral-based business we must give people a reason to refer us! We must do something that stands out. And whatever that "something" is, it must be remarkable to the point that it is noticeable, that people will enjoy talking about it.

As a business coach serving Sugar Land, Katy, and the Houston area, I find that many business owners would benefit greatly by giving some thought to this. Engage your team. Make it fun! Raise the bar and challenge them! By doing so, you just might create a culture of "remarkable" within your company - and people will talk!

Top 10 Most Visited Websites in 2010

2011-01-08T16:58:00.000-06:00

Experian Hitwise has reported that Facebook is now the #1 visited website, taking Google out of that #1 position after many years of dominance. Every entrepreneur should consider how Facebook can be a part of your business planning and marketing strategy.

Here are the Top 10 Most Visited Websites in 2010:

www.facebook.com
www.google.com
mail.yahoo.com
www.yahoo.com
www.youtube.com
www.msn.com
www.myspace.com
mail.live.com
search.yahoo.com
www.bing.com

Go to Experian Hitwise for the full report!

Increase Sales in 2011

2011-01-03T17:30:00.000-06:00

Will your sales go up or down in 2011?

In today's economy your sales could go either way. If you want to increase sales, it depends on:

Your sales team staying focused, accountable, and producing
You and your sales team having a strategic, proven and repeatable selling process
Your team overcoming selling fears, bad habits, and self-limiting mindsets

Sales Mastery℠ could mean the difference for you and your team!

In Sales Mastery℠ your team will grow personally and professionally
while being focused on accomplishing THEIR goals.

Sales Mastery℠ is a unique, year-long sales coaching and accountability program designed to get you and your sales team to produce superior sales results, to increase sales.

Sales Mastery℠ is designed to provide ongoing education, coaching, and accountability every month so that you see immediate and long-term improvements in sales performance and results.

Our Sales Mastery℠ Program will:

· Keep you focused, accountable, and producing

· Produce higher sales volume and more repeat business; increase sales

· Help you overcome selling fears, bad habits and self-limiting mindsets

· Enable you to achieve a shorter selling-cycle

· Teach you a strategic, proven and repeatable selling process

· Lead to better customer communication and satisfaction

Proven ● Effective ● Affordable ● Guaranteed

If you are in Katy TX, Sugar Land, Pearland, or the Houston area, call (281-635-5224) or email (G.Smith@TheGrowthCoach.com) today for more information on how you can enroll your sales team (or yourself) in this powerful program. To learn more go to http://www.thegrowthcoachhouston.com/sales-professionals/.

BEGINS: January 13^th (12-month program)
LOCATION: Fort Bend Chamber of Commerce
SPECIAL PRICING: $150 per month/$1,800 for the year
CONTACT GLENN SMITH: 281-841-6680
G.Smith@TheGrowthCoach.com

3 Skills For Success: Prioritize, Focus, Follow-Through

2010-12-23T05:53:00.001-06:00

Many business owners I talk to feel anxiety. This is not uncommon. I feel it more more often than I like. Sometimes we feel anxiety over cash flow concerns. Sometimes it's caused by a downturn in sales. Sometimes we feel like we have not served our customers well and are at risk of losing them to our competitors. Sometimes it's generated by strained relationships.

Sometimes we feel anxiety because we can't seem to get caught up, to get our heads above water, to find time to just relax; to forget about business and focus on our families and refreshing ourselves.

How do we manage this anxiety in a healthy, productive way as entrepreneurs? Let me give you 3 simple steps that will give you peace in the midst of what appears to be an unending storm.

Prioritize. I've come to realize that this is a skill that many of us struggle with. We talk about it a lot but it is easier said than done. Here's how I prioritize. First, I do a "brain-dump." I write down on a piece of paper ALL the stuff that is cluttering my mind, everything that I need to do, every detail that I think I must not forget or miss. Every problem I think I must solve. I empty my head of EVERYTHING!

Once I get it on a piece of paper, I rest! Yes, I just give myself permission to forget everything for a few minutes, or maybe even a day. Maybe I take a nap. Maybe I go play. I do something that is refreshing and replenishing. Once it is on paper, I can relax my brain because I know I won't forget something important!

I find that by unloading my mind, clearing my head, and then getting away from all the "stuff" for a little while, I can then think more clearly about what is important and what is really my Priority!

I then ask myself, "What are the 1-3 most urgent items on my list?" I know, you think everything is urgent, right? You must discipline yourself to pick no more than 3. Remember this:

If everything is important, then nothing is important!

You must discipline yourself to sort and choose! Once this is done, then give yourself a deadline for completing these priorities. If you just can't do this, ask someone to help you - a trusted friend, a spouse, possibly a business coach. This is how you prioritize. Learn to master this skill.
It is not enough to just prioritize. Now you must Focus on one of your priorities. Great leaders understand the power of focus! They know that this is one of the most powerful tools at their disposal.

To focus means that for a defined period of time I am not going to allow anything to take my attention except this ONE THING! Again this is a mental discipline! Turn off your phone, get away from your inbox or the internet, lock yourself in a room - do whatever you need to do to block out distractions and just focus! Determine ahead of time how long you will give to your focus session and do absolutely nothing else. Focus on this one thing until it is finished or until your designated time is up. You will be amazed at how productive you will be!
Finally, Follow Through. Work to develop mental perseverance. If you need help, again, get a trusted friend or accountability partner to help you. If you did not complete your priority in your first focus session, schedule another one asap or extend your current session for another designated amount of time. Determine to repeat this exercise until the task is completed! Once your first priority is completed, repeat the process.

Prioritize, Focus, and Follow-Through. Master these skills and you will discover not only peace of mind, but increased productivity. Teach these 3 skills to your staff. Make it a part of your office or organizational culture. Post it on the wall: P-F-F. Whatever you do, don't stop! Practice these 3 skills everyday!

Thank you for allowing me to be your virtual coach today. If you would like to know more about how we can help you as an Executive Business Coach in the Sugar Land, Katy, or Houston area, please email or call. To learn more go to our website at www.TheGrowthCoachHouston.com.

A Social Network Christmas: The Nativity Through the Eyes of Facebook

2010-12-20T20:22:00.000-06:00

How to Create a High-Performance Team

2010-12-07T09:26:00.000-06:00

Great video today by John Spence on "How to Create a High-Performance Team." I also recommend his latest book entitled Awesomely Simple. Business leaders need to watch this video and read his book!

3 Powerful Videos of Small Business Owners in America - Must See!

2010-12-04T21:32:00.000-06:00

Part 1 of 3

Part 2 of 3

Part 3 of 3

How Broke Economies Help Other Broke Economies

2010-11-23T07:21:00.000-06:00

News yesterday about the economic crisis in Ireland reminded me of this video that I posted a while back. Foolish borrowing and spending by governments is at the root of the world's economic challenges, including ours here in the U.S. Humor helps us digest painful realities. Enjoy this video again.

What Happens in a Coaching Group?

2010-11-21T21:37:00.000-06:00

This is what our business coaching groups do. Enjoy this brief video!

Sales Success, Obstacle #1: Fear of the "No"

2010-11-15T00:11:00.001-06:00

Much has been written about the fear of rejection but it still remains an issue for many sales people. I find that it is helpful to give my prospects a “no-option” right up front! My product/service is not for everyone. I don’t want anyone to feel manipulated or disrespectfully coerced. Neither do I want any “buyers-remorse.” When people say “yes” to me I want them to truly want what I am offering. I want it to be a “win-win” situation. Otherwise there is no hope for a long-term relationship.

As a sales professional you need to truly believe in your product or service. You need to be passionate and enthusiastic about what you are offering. You need to communicate the unique benefits of buying from you. But in the end, if the prospect says “no” it does not diminish the value of your product/service, and it is not a personal rejection of you. You must differentiate that within yourself in order to succeed.

Sales Success, Obstacle #2: Not Being Prepared

2010-11-14T12:08:00.004-06:00

It’s very important that you prepare before making the sales contact. I know that there are times when selling opportunities present themselves serendipitously, but most of the time you will have an opportunity to prepare before the contact.
For me, preparation involves going to the prospect’s website, blog, or social media sites before the contact. There I want to learn everything I can about the company and the individual that I will be meeting with. Prospects are typically very impressed if they see that you have done your homework. They feel valued and respected.

I also want to prepare my attitude. I want to go in with the right mindset, being customer-centered and customer-focused. I want to be optimistic and visualize this prospect becoming my customer. I want to anticipate as much as possible what will happen in this conversation. However, I always want to remain flexible and open to the unexpected.

It is very important to be prepared. I would encourage you to develop a system for personal preparation and use that system every time you make a contact.

Sales Success, Obstacle #3: Focusing on Yourself Rather Than Your Prospective Customer

2010-11-13T01:33:00.001-06:00

It is very important that you focus on the other person in the selling conversation. Your attention and your energy must be directed to understanding them and serving them. This contact is not about me. It is about the prospective customer, about their wants and needs. We must be tuned in to them before and during the contact.

There is a Hebrew Proverb that says “The purposes of a man’s heart are deep waters, but a man of understanding draws them out.” I want to understand my prospect (if possible) better than he understands himself. I do not want to be preoccupied with my fear, my discomfort, or my ideas. I want to be totally present for my prospect in that moment of contact. Learn to keep your internal focus completely on them!

Sales Success, Obstacle #4: Failure to Listen During the Selling Conversation

2010-11-12T01:26:00.001-06:00

The most important tools you have in the selling conversation are questions. The quality of your selling is directly related to the quality of your questions. You must go prepared with good questions and then be ready to ask more questions as they surface in the conversation.

Questions are essential to help you get to know your prospect and to understand what their needs are. I always encourage my clients to prepare good questions ahead of time so that they will be asking better questions than their competition.

However, it is not enough to just ask questions. You must also listen carefully to what they are saying. When appropriate, say back to them what you hear them saying. Listen beneath the words. What are they feeling in the moment of the conversation? How is my question impacting them? Listen and observe. Let them do most of the talking as you guide the conversation with powerful questions. Then listen!

Sales Success, Obstacle #5: Not Keeping Your Promises

2010-11-11T01:25:00.000-06:00

It amazes me how many people do not follow through and do what they say they will do. Successful sales professionals keep their word! They stand behind their promises no matter how difficult or inconvenient.

Prospects are asking themselves one primary question, “Can I trust you?” If you fail to keep your word in the initial meetings or the sales process, it is likely that the prospect will assess you as unreliable and/or dishonest. Bottomline: Keep your word!

Can I Benefit From Business Coaching?

2010-10-31T20:49:00.000-05:00

Maybe you are asking yourself this question right now. Watch this brief video and let me know what you think!

Sales Success, Obstacle #6: Inability to Close the Sale

2010-10-25T06:58:00.001-05:00

In my early days of selling this was a huge problem for me! Since that time I've discovered it is a problem for many other people as well. I could have a great conversation, ask some good questions, and uncover some clear needs that we could meet. But when the time came to close the sale, something happened and I walked away empty-handed.

Always remember that people buy based on emotion, and they justify with logic. In other words, every buying decision is an emotional decision. A good selling conversation will guide you into the prospect's points of pain and passion. If you never uncover pain or passion you will probably never close the sale.

The 3 keys to a successful close are emotions, buying signals, and questions. Through your conversation look for the moments of emotion. Don't be afraid to linger there. Also be watching for both verbal and visual buying signals. And then, when the time seems right, ask the closing question.

There is an art to this but with practice and evaluation you will be able to improve your ability to close the sale. You might consider engaging a coach to help you with your questions and scripts, as well as to help you increase in your self-awareness and other-awareness. As a sales coach and sales trainer serving the Houston area, I'm here to help!

Sales Success, Obstacle #7: Failure to Continuously Improve

2010-10-24T06:57:00.000-05:00

This is a series of posts that address 7 of the biggest obstacles that hold sales professionals back. Of course, I also want to address how to overcome these obstacles so that you will have greater sales success. Obstacle #7 is the failure to continuously improve.

Leaders are learners and successful sales professionals are always learning and improving their skills and their mindset. Both require attention and intentional development. No doubt you are reading this blog because you want to improve! Let me encourage you to continuously read, observe, engage mentors, attend seminars, talk to colleagues, and evaluate your selling experiences. Create a personal development plan right now (if you don't already have one) to learn and grow as a sales professional. Sales people fail in this area typically because they are not intentional! I hope you will be different!

There are 3 areas that you must address in order to take your sales to the next level. First, you must have a basic knowledge about the product or services that you are selling. Second, you must have a reliable selling process. And third, you must have the right mindset or attitude. As you learn and grow you will want to focus on these 3 areas. My observation is that mindset or attitude is often the most challenging!

Be an aggressive learner and you will be on your way to becoming a top notch sales professional. As you overcome these obstacles you will gain more confidence and improve your performance. You will fall in love with selling and begin to see it as "serving" rather than taking. You will gain greater financial success and enjoy the fruit of a growing network of people who appreciate you. And, you will realize the enormous potential you have to succeed in sales. As a business coach who serves Katy, Sugar Land, and the West Houston area, I am here to help you! Your success is my success!

LinkedIn: A Powerful Tool that You Need to Use!

2010-10-21T06:53:00.000-05:00

Every business professional should tap in to the tremendous potential of LinkedIn. This social media tool is unlike others in that it is specifically designed for the business professional. As such, it serves as a powerful resource for networking. Now with over 80 million users, LinkedIn offers you a wealth of opportunity.

Business neworking typically involves 3 steps. First, you introduce yourself to someone you don’t know. Then you allow them to introduce themselves to you. Finally you look for ways that you can build a mutually beneficial relationship for the future. This is exactly what happens on LinkedIn.

The way this works is that you introduce yourself by having a complete, compelling personal profile. LinkedIn is very user-friendly and will guide you through the process to having a profile that is 100% complete. Next you meet and get to know other professionals by connecting with them, getting introductions to them from mutual friends/contacts, and through groups. Then once you are connected, you can begin building the relationship in a variety of ways, all through LinkedIn.

Needless to say, I'm a big fan of LinkedIn. I've gotten new business and new referral sources by using this tool. Also, I enjoy coaching executives, business owners, and sales professionals on how to leverage this powerful resource. If you would like to have a business coach in Katy, a business coach in Sugar Land, a business coach in West Houston, or a business coach in Fort Bend County, please give me a call.

Just a Ride on the Subway

2010-10-17T11:46:00.000-05:00

This is one day that would have been fun to be on the subway... Enjoy!

Business Growth Strategy #7: Train Everyone Who Helps You in Business

2010-10-16T06:00:00.001-05:00

As you grow yourself as a leader you will also want to help those around you grow. Your employees, your contractors, your referral sources, your strategic partners, your vendors, everyone who helps you succeed in business needs to grow personally and professionally in order for your business to grow.

Sometimes business owners are reluctant to invest time and money in training others because of the fear that they will lose these people. Get over it! You will eventually lose many of these people. But through training and educating those who help you, you will gain leverage and help yourself more in the long-run.

The worst case scenario is that your company becomes known as a leadership development organization, and by sending others out you raise the standards of your entire industry. I don’t think I would be disappointed if that happened to my company. Of course it would mean that I would be challenged to personally grow even more! What are you doing to help those around you grow both personally and professionally?

Business Growth Strategy #6: Create a Marketing Engine to Attract New Customers

2010-10-14T22:41:00.000-05:00

This is the third time in this "Business Growth Strategies" series that I have referenced a “marketing” solution. The reason is that marketing has many facets. It is often THE system that holds business growth back.

As business owners we must develop the mindset that says “we are in the marketing business!” We work in many different industries but we are all in the marketing business. We must become marketing experts and create what I call a “marketing engine” for our unique business.

A marketing engine is simply a set of strategies and tactics that consistently deliver a specified number of qualified leads. In other words, you know that if you execute tactic “A” each month, you will produce “X” number of leads each month. All you have to do is start the engine and keep it running!

Unfortunately many business owners do not know where their next sale is coming from. They do not know what marketing tactics will keep them alive, much less enable them to grow. By creating a marketing engine you will know how to produce new customers. Then to increase the number of customers for business growth, you simply rev-up your marketing engine.

As a Houston business coach I receive a tremendous amount of gratification from helping business owners create their own marketing engine. I would be very pleased to serve you in this way as well.

Business Growth Strategy #5: Identify and Correct "System" Bottlenecks

2010-10-10T05:15:00.000-05:00

It is helpful to view your business as a large system. This large system has many “sub-systems." The 5 core sub-systems of every business are marketing, selling, fulfillment, back-office/admin, and HR/people management. Any one of these systems may contain multiple bottlenecks that prevent your business from growing.

It is important to realize that your system is perfectly designed to get what you are getting! So if you want to get something different from it, you must change the system. Enlist employees and/or an outsider to help you look objectively at your core systems. Where could there be potential bottlenecks? How could you improve in each of these core areas? As a Houston business coach this is part of the value I bring to my clients. You will want to assess each of these 5 core systems to determine where your current or potential bottlenecks may be.

It is not uncommon for one relatively small adjustment to open the gate for dramatic growth! One small change could be a huge point of leverage! This is one reason system bottlenecks often go unnoticed until there is an intentional and objective assessment.

Business Growth Strategy #4: Invest More Time and Energy in Developing Your Referral Sources

2010-10-04T21:28:00.000-05:00

Leads generated through referral are typically the best prospects a business can receive. They are also typically the least expensive. However, my experience is that most business owners are not very intentional about leveraging this incredible opportunity.

Why is this so valuable? We all prefer to buy from people whom we know, like, and trust. To have a real opportunity to make a sale, you have to overcome the buyer’s skepticism. You have to achieve a certain level of trust – and sometimes building that trust is difficult if you’re a stranger. A good referral allows you to begin the process with a certain level of trust already built in.

While referral marketing typically has a low hard-dollar cost, it does take time and mental energy. This requires a commitment from you! However, wise business owners see the value of this and will implement specific tools and tactics designed to generate an increasing number of warm, interested prospects through their satisfied customers and strategic partners. They will literally create a referral “system” that enhances and leverages word-of-mouth marketing. As a Houston business coach I help local entrepreneurs design and implement referral marketing systems. As they do, they see substantial growth. How are you doing in this strategic area?

Business Growth Strategy #3: Grow Yourself As a Leader

2010-09-30T17:38:00.000-05:00

Author and speaker John Maxwell talks about a concept he calls “The Law of the Lid.” In his book The 21 Irrefutable Laws of Leadership, Maxwell states:

“Leadership ability is the lid that determines a person’s level of effectiveness. The lower an individual’s ability to lead, the lower the lid on his potential. The higher the leadership, the greater the effectiveness.”

If your business is “stuck” at a certain plateau it is very likely to be a reflection of your leadership ability. In other words, you have probably hit your leadership lid.

The good news is that we can raise our lid! However, we must first recognize our lid. Once recognized, we can then take steps to learn and grow ourselves as leaders.

Leadership development is a core discipline for growing your business. It is fundamental to your success as an entrepreneur and business owner! As a Houston business coach I enjoy helping my clients grow in leadership.

Small Business Jobs Act of 2010

2010-09-30T13:11:00.000-05:00

When I heard that the President was reaching out to help the small business owners I was very interested and hopeful. However, as I have looked more deeply at this bill I'm frankly disappointed. Here is an honest assessment of what the bill will do for the small business owner.

Business Growth Strategy #2: Create a "WOW" Experience for Your Customers and Prospects

2010-09-27T22:23:00.001-05:00

What differentiates us from our competitors usually has less to do with our products or services, and more to do with how we treat people! The best companies in the world get this and thus place a major emphasis on the customer experience.

Note that it is not enough to just satisfy your customers. We must find ways to exceed their expectations. That is what creates “Wow!” Numerous research projects reveal common factors that contribute to “Wow.” They include:

a. How company employees engage and interact with prospects and customers – polite, courteous, positive, caring, and most of all being a good listener to understand what the customer needs!

b. Execution – identifying and offering the best solution to solve the customer’s need, then providing that solution with quality, speed and excellence.

c. Problem Recovery – resolve and fairly compensate the customer for any problems; companies should have a clear, simple problem resolution process, and the frontline staff must take responsibility to solve the problem in a positive and efficient manner.

Content Marketing Strategy

2010-09-27T08:07:00.000-05:00

Social Media Examiner is one of the best resources available on social media. Enjoy this 12 minute interview with Joe Pulizzi as he explains that you must have a content marketing strategy before you have a social media strategy. Also, receive their FREE Content Marketing Playbook.

Joe Pulizzi Interview from Michael A. Stelzner on Vimeo.

Business Growth Strategy #1: Market to Your Current and Past Customers

2010-09-26T07:11:00.000-05:00

Marketing to your existing customers should be your FIRST marketing priority! These are the people who have already chosen to do business with you and they are the ones who are most likely to do business with you in the future.

It typically costs 6-8 times more to attract a new customer than it does to keep an existing customer. Look for ways to increase customer loyalty. Identify new needs that you can meet for them. Find additional ways to add value and then let them know that you want to serve them more.

Make it your goal to increase the size of the average sale by adding more value. Also, make it your goal to increase the frequency of sales, again by adding more value!

Once you acquire a customer, the hardest part is accomplished. Now make sure you serve them well and always be on the lookout for additional ways that you can serve them more in the future.

We Don't Take Money, We Make Money

2010-09-18T10:01:00.000-05:00

One of the most articulate and thoughtful writers/speakers I've heard is Rabbi Daniel Lapin. I want to share with you an excerpt about making money from his blog, "Rabbi Daniel Lapin's Blog."

"Without the spiritual lens of faith, we inevitably tend to view money as something quite physical. Now one rule about all physical objects whether they be books, bugles, or our bodies—they can only be at one place at a time. If they are here, they are not there. Unlike spiritual things like, say, a tune which can be on a thousand lips at the same time. What is more, if I hear you whistling a song and I start whistling it too, I am taking nothing from you. But if I take your book, I have it and you don’t.

Well, if money is physical, then the only way I can get it is by taking it. And for every dollar that I have, someone somewhere has one less. But if money is spiritual, like a tune, it is created and brought into existence afresh without taking anything from anyone else. In this spiritual model, we don’t take money, we make money.

Let me put it this way, if you didn’t mug a little old lady and steal her pocket book, if you didn’t hold up a convenience store, and if you didn’t persuade the government to take money from someone else and give it to you, then the only way you got that dollar in your pocket is that you pleased another human being. I don’t know if it was a customer, your boss, a client, or whoever but you must have pleased someone who gave you that dollar willingly because they valued whatever you gave them or did for them as more than a dollar.

In other words, your dollars are symbols of the acts of kindness you did for other people. Without this spiritual vision, we’d never realize the importance of private ownership of property."

A Life-Changing Week In the Life of an Entrepreneur

2010-09-04T21:54:00.000-05:00

I’ve spent this week in the hospital under the care of some of the most competent and compassionate medical professionals I’ve ever seen.

It began with what I thought was going to be a relatively benign visit to St. Michael’s ER in Sugar Land. However, the ER doctor had an intuitive sense (obviously from years of training and experience) that there might be more going on than we could see. She was correct. My condition was asymptomatic, but critical – acute pulmonary embolism.

This won me a week of vacation in Methodist Hospital Sugar Land, again, being treated by some of the finest in the medical professions. I’m happy to say my prognosis is excellent and I will be quickly resuming my normal routines.

However, this week has caused me to think about a lot of things (since there wasn’t much else to do!) Here are some of my dominant reflections as a business owner and entrepreneur:

Though our health care system in America is not perfect, we have the best health care in the world. I have grave imaginations of what my plight would have been in a socialized health care system.

Though the purpose of business is to make money, the most meaningful thing I experienced this week was the friendship and support from my family and my business community. Relationships are much more important than money.

Though vision is our picture of a preferred future, a bigger or stronger company without health and relationships is empty. Our visions must transcend the bottomline and thus create a better world for everyone.

We all need moments from time to time to remind us of what’s most important. For me that boils down to Faith, family, and friends. What’s really important to you?

Ronald Reagan: Those Voices Don't Speak for Us

2010-08-24T21:44:00.000-05:00

I admit it. I am pro-business and pro-freedom. Ronald Reagan is one of my heros. Enjoy this video.

When Shifts Happen...

2010-08-22T21:04:00.001-05:00

The marketplace today is vastly different than it was two years ago. In fact, it's different than it was just eight months ago. Some businesses are struggling while others are thriving - what makes the difference?

For most business owners and sales professionals it boils down to 2 things: Mindset and Behaviors!

When a shift occurs in the marketplace, confusion follows. Consumers are confused, investors are confused, and businesses are confused. This confusion leads to fear. The most important thing for entrepreneurs and leaders at this time is to focus on the fundamentals.

The first fundamental is mindset. Know that there is still business to be had! Know that there are new opportunities available now that were not available in the recent past. Know that growth comes from clarity, focus, and strategic action.

In what ways do you need to elevate your mindset? What kind of beliefs will lead you to success? What limiting beliefs are holding you back?

The Law of Belief says, “Whatever you believe, with conviction, becomes your reality.” Look at your situation. What does that say about your beliefs? The most powerful, but often most unconscious contributor to our success or failure is our mindset. Henry Ford summed it up well when he said “If you think you can do a thing or think you can’t do a thing, you’re right.”

Along with Belief is the Law of Concentration, which says, “Whatever you dwell upon, grows and expands in your life.” During uncertain economic times our mindset and beliefs will be the deal-breaker! Get rid of “head trash” and make sure your mind is set for success.

The second fundamental is behavior or habits. Brian Tracy said it well stating, “Successful people simply practice successful habits.” It really is that simple! Identify the behaviors that produce success, and practice them consistently. They will become successful habits.

While this is simple, it is not easy. We are often creatures of “unsuccessful” habits, and we typically avoid facing reality. In addition, in a shifting marketplace we discover that what worked yesterday often doesn’t work today. We must be ruthlessly honest with ourselves. We must identify those fundamental successful behaviors, and practice them relentlessly.

As we see shifts happening, go back to the fundamentals of mindset and behaviors. Consider hiring a business coach to help you gain clarity and focus. The right coach can help you turn a dismal trend into growth and success.

Video: Sell Your Business for a Premium

2010-08-15T16:37:00.000-05:00

As a business coach it is my goal to help my clients grow their business and systematize their business so that it can run practically without them and worth a fortune when they sell it. I think you'll enjoy this video!

Creating a Customer Experience!

2010-07-31T11:16:00.000-05:00

You've got to see these 2 videos. This is how you create a customer experience! These improv flashes are happening in a lot of different places!

This one is the Italian Market in Philadelphia:

This one is Central Station in Antwerp Belgium:

Prepare Your Business to Sell - Tip #7

2010-07-25T17:41:00.001-05:00

I started this series of posts by pointing out that many (if not most) business owners find themselves trapped in an unsellable business. Most of the owners I talk to would like to have the ability to sell their businesses one day. However, few actually take intentional steps to prepare their business to sell.

In these posts I have offered 7 tips or 7 steps to prepare your business to sell. If you missed the previous tips click here to start with Tip #1. As a business coach serving Sugar Land, Katy, and the Houston area it is my privilege to help entrepreneurs grow as leaders so that they can bring their businesses to a point that they can sell them for the best return on their investment.

A good business coach will help you grow your business as well as systematize your business, so that you can work less but make more. They will help you create an asset that is sellable. These 7 steps will start you on your way to a prosperous future. Now for tip #7.

Tip #7: Engage a Broker.

Finally, when you are ready to sell your business it is advisable to find a broker to help you. This may be the largest transaction of your life, so get a professional to represent you. Good brokers create competitive tension and earn the success fees they charge. Depending on the scale of your business, you may want to engage a local broker or contact the Alliance of Merger & Acquisition Advisors.

Wishing you all the best as you grow a sellable asset. For more information contact Glenn Smith, business coach Houston at 281-841-6680.

Prepare Your Business to Sell - Tip #6

2010-07-24T05:22:00.003-05:00

Is your business sellable? 99 out of 100 businesses are not sellable. As a Houston business coach I see many businesses that could become sellable with a plan for documenting their systems. Here is another tip to help you prepare your business to sell.

Tip #6: Document Your Marketing Strategy and Your Selling Process Such That You Have Predictable Outcomes.

The most critical part of any business plan is the marketing strategy. To get the best selling price you want to be able to demonstrate that you have a lead generation machine! If a buyer knows how to generate new business, they become much more motivated.

You must also have a proven, documented sales process. Again, a well documented system is trainable. If you, the owner, are the only person that can generate leads and make sales, your business is NOT sellable! This is the biggest reason most businesses cannot be sold. Once you have completed the first 6 steps, then you are ready for Tip #7.

Prepare Your Business to Sell - Tip #5

2010-07-23T05:05:00.002-05:00

I am in the process of sharing 7 steps (tips) for preparing your business to sell. Here is another tip in this series.

Tip #5: Replace Yourself on Every Level

To begin this process, create a detailed organizational chart. Have a box for every role and function. Once you have all the roles and functions identified, go back and start putting names in the boxes. Upon doing this exercise, most business owners discover that they are either in every box or they regularly visit every box.

The aim of the strategic business owner is to get himself out of the boxes! This is what i mean by replacing yourself on every level. Your business will not be sellable if it is owner-dependent. You must create a systems-dependent company that anyone can manage.

Prospective buyers want to buy a successful business. A successful business is one that consistently delivers on its promise, is increasingly profitable, and can run without the owner.

It is an honor for me to work with some outstanding business owners in Katy, Sugar Land, and the Houston area. As a business coach I get to see entrepreneurs transform their businesses into turn-key operations, thus building a great asset. To learn about their mindset, see "Selling Your Business." To proceed to Tip #6 click here.

Prepare Your Business to Sell - Tip #4

2010-07-22T22:04:00.001-05:00

Did you see Tip #1, Tip #2, or Tip #3? Well, here's another tip for preparing to sell your business.

Tip #4: Document how you fulfill your promise to your customers.

Whatever service or product you deliver, be sure you have an efficient, documented process that will insure consistent quality and customer service. If your system is well documented it will be a highly trainable system for others to learn and use.

Policies, procedures, job descriptions, flow charts, and checklists are the tools of good fulfillment systems. This will typically be the largest component of your Operations Manual. Once documented, you can create a process for both training and continual improvement. If all this knowledge is only in your head it is not sellable! But it it is documented as I describe, it becomes an asset.

As a business coach in Houston, Sugar Land, and Katy, it is my privilege to serve small business owners and entrepreneurs who are preparing to sell their businesses. We help business owners grow as strategic leaders, marketing leaders, and self-leaders. Click here to proceed to Tip #5.

Prepare Your Business to Sell - Tip #3

2010-07-21T06:20:00.001-05:00

We have already posted Tip #1 and Tip #2. Here is Tip #3 for preparing your business to sell.

Tip #3: Improve Your Cash Flow Position

The most obvious question that any prospective buyer will ask is "Does this business make money?" You not only want to be able to show the profitability of your company but you want to demonstrate a short cash flow cycle.

The more working capital a buyer must put into your business, the less they will pay you for it. To shorten your cash flow cycle charge up front, or at least in staged billing, so that you get paid as much as possible before the customer buys the products or services you are selling.

A strong cash flow position is critical to garner the top selling price for your business. As a business coach in the Houston area, I help business owners grow the business, systematize the business, and bring greater balance to their life. I help them improve their leadership and their mindset. To learn more about the mindset needed to build a business you can sell see "Selling Your Business." Or, click here to proceed to Tip #4.

Prepare Your Business to Sell - Tip #2

2010-07-20T05:16:00.002-05:00

This is the second in a series of posts on "Preparing Your Business to Sell." Click here if you missed Tip #1. Here's Tip #2:

Tip #2: Meet with your CPA

I recommend that you meet with your CPA and let him/her know when you anticipate selling your business. Please note that turning your business into a sellable asset does not happen overnight! I recommend that owners plan on at least 2-3 years of preparation.

It is best to have an accountant with experience in helping entrepreneurs with succession planning. Let your CPA know your intentions and projected timeline. Ask them to advise you on your accounting and back-office processes. Then make sure all your processes and procedures are documented in an Operations Manual.

Make sure you are generating timely and accurate reports for financial management. Then most importantly, have your CPA advise you on tax planning strategies to minimize your tax bill when you sell your business. Do not wait until you have an offer to see an accountant!

As a business coach for Sugar Land, Katy, and Houston area entrepreneurs, I enjoy helping small business owners get the most out of their businesses and their life! Click here for Tip #3.

Prepare Your Business to Sell - Tip #1

2010-07-19T05:15:00.002-05:00

This is the first of 7 tips to help you prepare your business to sell. You might look at these as 7 steps of preparation. It's important to start with the right mindset. See "Selling Your Business." The first tip is this:

TIP #1: CLARIFY YOUR VISION

What do you want your business to look like on the day that you sell it? This is a difficult question to answer for many owners because they do not know what a sellable business looks like. This is where a good business coach can begin to help. Michael Gerber in his book The E-Myth Revisited encourages owners:

"Imagine yourself taking [a] potential buyer through your business, explaining each component and how it works with every other component. Imagine yourself introducing the potential buyer of your business to your people, and standing by while they proudly explain their accountabilities to the fascinated stranger. Imagine how impressed the potential buyer of your business would be upon being presented with such order, such predictability, such irreproachable control."

So begin by clarifying your vision. Write it down. Get crystal clear on where you want to go. As a business coach I enjoy helping entrepreneurs grow in leadership by achieving clarity of vision. Click here for Tip #2.

Selling Your Business

2010-07-18T11:15:00.001-05:00

Many business owners find themselves trapped in an unsellable business. Most of the owners I talk to would like to have the ability to sell their businesses one day. However, few actually take intentional steps to prepare their business to sell.

In his book Built to Sell, John Warrillow states:

"There are approximately 23 million businesses in the United States and only a few hundred thousand are able to sell their company each year. That means for every small business owner who creates a business that someone will buy, there are about 100 businesses that do not sell."

Why are 99 out of 100 businesses unable to be sold? The owner did not take the time to intentionally prepare the business to sell. I see this almost everyday. The truth is that the best businesses are sellable!

Now you may not want to sell your business today or anytime soon, or maybe ever! But smart business owners will build a company to be sold even if they have no intention of cashing out. This is the mindset of a strategic business owner. If you adopt this mindset and prepare so as to sell, you will build a better, more profitable, more valuable, more enjoyable enterprise. Plus, you will transform your business into a sellable asset.

For more help check out our series of tips to "Prepare Your Business to Sell". Start here with Tip #1.

How to Start a Blog Using Google Blogger

2010-07-06T06:16:00.002-05:00

Several of my clients are exploring into the world of blogging. They are coming to understand the "New Rules" of marketing. As a result, they are beginning to position themselves as "thought-leaders" in their industries. I'm very proud of them!

If you are a new blogger, one of the easiest platforms to get started on is this one, Google Blogger. If you need a good tutorial resource I recommend Susan Gunelius' book Google Blogger for Dummies. No, I'm not receiving royalties or referral fees, it's just a good resource!

To help you move forward with your blog development, let me offer you this checklist. This is not exhaustive, but it's a good place to start. Once you master these basics, contact me and we'll move forward from there. In the meantime, be sure you've covered these steps well:

Write a purpose statement and establish goals for your blog.
Create a schedule and budget time to blogging
Create a content strategy - what are you going to blog about?
Pick a template and create a home page.
Create an informative author profile.
Build your sidebar(s) - use links, gadgets, subscriber tools, etc.
Write some posts - create interesting, keyword-rich titles; add post dates; enable backlinks; spice it up occassionally with images and/or videos; enable comments & be sure to interact with them
Start using labels (categories)
Begin building relationships with links
Work to build keyword-rich posts - check out the "Keywords Tool" from Google AdWords
Install Google Analytics and begin tracking the performance of your blog for continuous improvement

Once you feel like you have these basic steps down, contact me for a FREE Blog Analysis. There is much more, but these basics will get you started on the right path! For more ideas and help see Blogger Tips and Tricks. For help with content read 5 Types of Web Content That Readers Love.

Business Growth Begins With Customer Service

2010-07-04T09:27:00.000-05:00

One blog that I enjoy following is Dr. Joseph Michelli's blog. Dr. Michelli is one of the best in helping the business owner improve their customer experiences. This is vitally important because no amount of marketing or lead generation will be enough to make up for poor customer service!

In a recent post Dr. Michelli talked about "the facts" as they relate to customer engagement. From recent research he noted:

Only 16% of respondents think they always or almost always delight customers getting customer service online
95% want to improve profitability, but only 43% want to improve the work environment for employees
57% have a formalized voice of the customer (VoC) program.
32% have been using Net Promoter Score (NPS) for at least 12 months, but 19% are not familiar with NPS

Dr. Michelli raises several good questions for the entrepreneur to consider, but I want to highlight just 2:

How can I delight my customers more consistently with my existing online presence?
What should I be doing to elevate my staff experience in the service of our customers?

As a business coach in Sugar Land, Katy, and the Houston area, I help executives develop business growth strategies. The #1 priority has to be to take care of the customers you have! A key part of that is strengthening your team because they are the ones who deliver the experience to the customer.

What are you doing to enhance your customer service experience?

Six Months to Go Until the Biggest Tax Increase

2010-07-03T11:37:00.000-05:00

Small business owners need to be aware of what's coming. This is from Americans for Tax Reform:

In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011:

First Wave: Expiration of 2001 and 2003 Tax Relief

In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011:

Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:

- The 10% bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%

Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Second Wave: Obamacare

There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. Read the entire article...

Third Wave: The Alternative Minimum Tax and Employer Tax Hikes

When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. Read the entire article...

I urge all small business owners to visit with their CPA before the end of the year to gain understanding of how the tax increases will effect them and to begin developing your strategy to deal with this historic tax hike!

The Benefits of The Growth Coach

2010-06-28T11:53:00.000-05:00

Check out this 3 minute video on how The Growth Coach can help you improve your business and your life!

How to Change: The Myth about Will Power

2010-06-23T08:17:00.000-05:00

When business owners and professionals decide that they need to make a change in their business or personal life, they typically try to muster up their "will-power" and start implementing a new behavior. This nearly always fails!

It has been reported that approximately 95% of all New Year's resolutions are broken by the end of January. Most people assume, when they fail to keep their resolution, that they did not have enough "will-power."

This typically leads to feelings of discouragement and defeat, resulting in less desire to try again down the road. The result is complacency and mediocrity in their business and life.

That is unfortunate because the reason they failed was not a lack of "will-power."

The fact is, your "will" actually has not power! The will is simply the human capacity to choose. Should I wear a white shirt or a blue one? we ask ourselves. Ultimately we choose the white one, and our will is the hinge on which the decision is made. But the "will" does not actually do anything.

The will is actually a responder! There are 3 primary influencers on the will. They are the mind, the body, and the social context.

First, what we think in our mind creates emotions, which lead to decisions or action. This is typically where the most important work has to be done to achieve lasting change.

Second, the body is a complex inner working of impulses that influence the will. Most of our bodily system runs without our help, but when the body has a need (i.e. food, water) it expresses itself to the mind through physical feelings (hunger, thirst) and alerts the mind to send a message to the will: Get food now!

Finally, the will is also influenced by our social context. We are highly influenced by the people around us. This is known as "peer pressure."

The will is neither strong nor weak. It is a responder to the mind, body, and social context. Please know that you are 100% responsible for your choices and actions. You MUST take personal responsibility for your behaviors. But if you want to truly change your behaviors, you must first change your mindset, and monitor/improve the physical and social influencers.

As you work on your goals and your business plan, process these ideas with a trusted friend or coach. This is the path to lasting change and improvement.