Archive: ‘Business Stories’

Art Jacoby’s Business Allergies

I’m allergic to:

• Losing money
• Long sales cycles
• Low productivity
• Unreasonable expectations
• Lack of effort
• Poor listening
• Not learning from mistakes
• Processes that get in the way of customer service
• Negativity

What are your business allergies?

World War C™

Robin Williams made us chuckle in the movie when he enthusiastically yelled “Good morning Vietnam!” into the microphone at his Armed Forces radio station spot to grab the attention of the troops stationed in the war zone.

Well, Robin, we need you now to help wake up America! World War C (Cyber) has arrived on our shores, or more accurately to our computer infrastructure. It isn’t the British this time. And it isn’t visible, it’s digital. But it is serious in terms of the risk of economic damage and destruction.

Computers have changed our lives in wonderful ways but our move toward transparency has other consequences – opening the “computer door” to bad guys. The Intelligence Community is reasonably well prepared but make no mistake, despite billions of dollars already spent, vast portions of the U.S. government, State and local government and most of the commercial market are highly vulnerable.

Our key infrastructure industries pose the greatest concern – financial and utilities- as any disruption there can cause severe economic repercussions but every industry, every commercial business faces threats never faced before.

America’s physical infrastructure has suffered for years because, as a culture, we like to spend money on new, sexy things rather than on essentials.

Cyber security  IS sexy – spies, war, secret code, danger….  Got your attention?

There is a wealth of information available on how to protect your business. One good starting place is the National Cyber Security Alliance www.staysafeonline.org where a great deal of free information is available to start your own journey to better security.

Maryland Cyber Investment Partners www.marylandcyber.com is here to help. We can connect you with the very best resources, experts in cyber security, to protect your business.

Good Morning America!

Baking a Big Pi (π)

Profit that is. The reason others purchase from you (to bake their own Pi). The reason your business exists. Your charter is to help others earn a bigger slice so that your Company gets more too.

You want your Company to be valuable?  Then you must generate a stream of consistent earnings growth over a period of years with performance better than most of your competitors.

There are exceptions to this but they are few: you may have assets i.e. intellectual property, products, land/building which are more valuable than your earnings stream or you may be in a hot market where, for a period of time at least, buyers will pay a multiple of sales to absorb your customer base and reputation. But, these are the exceptions. 98% of the time prospective buyers will value your business on expected earnings and they will base this largely on actual results.

So, business chefs, it’s all about Pi.

Here are some key ingredients:

• High retention rate of profitable Customers
• Selling more to existing Customers
• Steady addition of new Customers (efficient/effective marketing and sales)
• Maximize Gross Profit dollars (the right price/quantity balance)
• Minimize expenses (increase high ROI spending, limit low ROI spending)

Fire up the oven, it’s time to bake Pi!

Little BIG man! Using Your Unique Niche Business Strategy

Companies aren’t the only people that use their niche business strategies… check out the example below.

Who is 6’ tall, weighs 175 pounds and frustrates the daylights out of the best basketball players in the world? Jose Barea, that’s who. More »

The Big Plunge: A Free Business Assessment

Considering a MAJOR move that might risk your ranch?

Trying to build up the courage to take some risks in your business? On this page you’ll find free business assessment tools that will help you. They were inspired in part by reading “Shadow Divers” by Robert Kursonwill, which I’d recommend you read.

It will provide you with a compelling illustration of just what extreme risk looks like. A quick business assessment of this venture would have had large red letters marked “danger!” More »

Building & Turbo Charging Your Sales Team

Frustrated with your Sales team or lackluster results? Are you constantly thinking about sales training in your local region? Stop settling for sales performance that isn’t generating significant earnings.

You CAN set a higher bar, strengthen your sales team, your sales processes and drive higher sales in a matter of months! This straightforward PowerPoint presentation,“Build & Turbo-Charge Your Sales Team”, gives you a practical step by step checklist on what to do to make it happen.

Rank your current status A, B or C on each item. If you score an “A,” keep up the good work, if you score a “B,” focus on it & figure out how to do better. If you score a “C,” get some help re-engineering it or out-source it. Sell more right NOW! I’m allergic to long sales cycles… and you should be as well.’

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Business Survival During A Recession: Defiance and Irrepressible Spirit

Ever wonder what it might take for you to succeed in the most difficult conditions? Or have you wondered about business survival during a recession?

According to Laura Hillenbrand, author of “Unbroken: A World War II Story of Survival, Resilience, and Redemption” two factors are “defiance and irrepressible spirit.” If this story and that of Ms. Hillenbrand herself don’t inspire you, please check your pulse. More »

How to Raise Capital for a Small Business

Need to know how to raise capital for a small business?

Raising capital is very difficult but there are best practices that greatly improve your probability of success. Many entrepreneurs are frustrated and disappointed by the process, not understanding the critical success factors that make all the difference.

Here’s a quick primer on how to get what you want… by giving investors what they require.

Use it as a guide to constructively assess where you stand so that you can effectively exploit your capital-raising strengths and to mitigate your weaknesses and become “investment grade.”

I’m happy to provide you with more pointers in my presentation “How to Raise Capital“.

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Falling into the same (Mouse) Trap – Getting Out of Sales Slumps

Getting out of sales slumps: unique case study ahead.

We have a 110 year old arts and crafts bungalow whose old basement with a very low ceiling is visited by mice every winter.  In 12 years as official mouse warden, I’ve trapped more than 100 mice and that’s a large enough sample for me to believe that I know at least a little about what works and what doesn’t. I’m a freelance Consumer Reports of mouse traps.

For years, my staple “tool” has been the familiar spring-loaded trap that sits on a ¼” thick 1.75″x4″ piece of wood. My bait of choice is thick, sticky peanut butter. The particular mousetrap brand I’m using now is from www.tomcatbrand.com and features a yellow cheese-looking platform to hold the bait. More »

Business Tunnel Vision

Take a ride on the Flam Railway in Norway in and out of 20 tunnels and experience what tunnel vision really means.

In business, tunnel vision can make us less effective and less efficient because we aren’t open to more important priorities and better solutions.

Ride the rails with JACOBY and learn more by clicking here.