Do you have enough cash to avoid disaster? Do you want profits or wealth?

Do you want profits or wealth?
As a business owner, you need both.
You cannot have wealth without profits, says our friend Ruth King of ProfitabilityRevolution.com .
Many business owners focus only on the Profit & Loss statement and totally ignore their Balance Sheet. They focus solely on profits rather than building wealth.
You can go out of business ignoring wealth to focus solely on profits.
Ruth tells of a contractor who, in a single week, lost 3 major clients to bankruptcy and more than $1 million in uncollected receivables. He needed cash to survive.
Had he focused on building cash (i.e. wealth) in addition to profits, he might have struggled but his business survived.
Here are 2 steps you can take.

  1. Check your Balance Sheet the last day of each month. Is your checking account growing this month over a month a year ago? By how much? Should you transfer any of that to an interest-bearing account?
  2. Ask yourself how you might grow your cash faster. What expenses might you trim or eliminate? What can you do to grow your gross sales and net profits?

We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com . Purchase an electronic copy by visiting Amazon.

Copyright 2019, The Bellune Co., Inc.

Productivity: How to double your productivity

Our friend Andrea Nierenberg shared with us these ways she makes her 24 hours each day more productive:

• Awaken 10 minutes early and you’ll be surprised to discover how much time you have created through those extra minutes.
You can start a project, connect online, write a note to people in your network, catch up on important reading or exercise.
Squeeze extra productivity out of your day.

  • Ask yourself these 5 questions:
  1. How much of my time is spent with clients or people in my network?
  2. Do I confirm appointments?
  3. Is my paperwork done completely?
  4. Am I willing to meet with people at their convenience instead of mine?
  5. Do I frequently have productive coffee and lunch meetings with my network?
  • To help yourself list.
  1. All the ways you waste time and how you will stop doing them.
  2. How you can be more productive.

Time can be your best friend and worst enemy. It keeps moving, so use it wisely.
Don’t multi-task. You’ll make mistakes.
When someone meets with you, give them your undivided attention. Always ask, “How much time do we need right now?”
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com
Copyright 2019, The Bellune Co., Inc.

Is someone secretly stealing from you?

How do you know your bookkeeper, employees or vendors aren’t helping themselves to your hard-earned revenue?
After working with business owners for 38 years, our friend Ruth King can almost smell when the books are not right.
Often it is a bookkeeper, employee or vendors. Ruth hates telling owners, “Someone is embezzling and here’s the proof.”
All leave tell-tale signs. Sadly, most could have been caught quickly by owners doing one simple thing – having their bank statements sent to their homes.
If you aren’t getting your bank statements sent home, stop reading this and get your bank to send your statements home.
Check them carefully. The microfiche’s show signatures, who the checks were written to and the numerical sequences. If something doesn’t make sense, ask questions. This is your first line of defense!
Ruth has caught vendors changing the amounts on checks before depositing them. A $40 auto repair invoice became $400 when the vendor deposited the check.
You have to watch your vendors, too.
Get Ruth’s helpful newsletter by writing her at rking@profitabilityrevolution.com
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
Copyright 2019, The Bellune Co., Inc.

How to drive more profit to your bottom line

Are you happy with your business’s bottom line? We never are. I mean NEVER!
If you are happy with yours, take another look. Over time your costs rise and with it employee and your own pay.
What is the annual net percent of gross for companies your size in your industry? What are their average payroll costs as a percent of gross? How about the average costs of your other expenses?
You may have to raise prices to stay even or to do what others in your industry do.
What if you sold fewer products or services at a higher profit margin? Would that increase your net profit?
What if you sold more at a lower profit margin? Would that increase your profit?
What if you raised prices on your most popular products or services, raised productivity and decreased waste. Any one of these can increase your profits.
One step we are taking is a hard-nosed approach to our operating costs. We aim to shave those costs $100 a day.
With 260 work days a year, that will add $26,000 to our bottom line.
If you did that, what would it add to your bottom line?
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
Copyright 2019, The Bellune Co., Inc.

Your ‘Goldilocks Offers’ will close more sales

If you’ve shopped at your local grocer lately, you may have noticed “Yogurt-copia.”
There are so many choices – apple, banana cream pie, orange, peach, strawberry, etc. – it is dazzling and confusing. Which ones should you buy?
Consumer research shows this is having a negative impact on consumer sales. The multiple choices are hurting – not helping – boost yogurt sales.
That should be no surprise if you’ve read Robert Cialdini’s excellent book, “Influence.” Cialdini writes that fewer choices actually boost sales. Otherwise consumers become lost in the forest of choices.
Go to the frozen food section and you will find a similar cornucopia.
You’ll find a staggering array of brands and flavors of ice cream, frozen yogurt and ice milk.
Which will your family like?
In the Goldilocks story, 1 bowl of porridge was too hot, 1 too cold and 1 just right for Goldilocks.
She chose the 1 just right.
I recommend you limit, not expand, the choices you offer clients and prospects.Your understanding of your prospects’ wants and needs helps you pick the 3 best choices to offer them.
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633.
Copyright 2019, The Bellune Co., Inc.

The best way to gain more customers

Our friend Ruth King told us about her friend who asked for referrals for their new air conditioning system. None of the sales people asked why the friends called.
Make sure your salespeople ask how prospects heard about or who suggested you. Then thank those who referred you.
Prospects who call your company on recommendations are passive referrals.
No one in your company solicited the referral. It came because of a great job you did and your happy customer referred others to you without being prompted. These referrals prove you did a great job and the customer was happy to mention you.
Active referrals come when you ask customers for them. Many do it through social media: “If you liked our service, please review us on Google, Yelp, etc.”
Active referrals can come from incentives. By offering a gift, product or service for referrals, some customers become de facto sales people for you.
Put a statement on the bottom of your invoices that says, “We grow our company through referrals from family and friends. If we did a great job, please let them know.
“If we didn’t, please let us know.”
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
Copyright 2019, The Bellune Co., Inc.

Sell by the numbers for greater profits

Houston Rockets basketball coach Mike D’Antoni is passionate about 1.16.
That’s the number of points per possession they must score to be the best offense in basketball history, Ben Cohen writes in the numbers-driven Wall Street Journal.
D’Antoni has long been known for strategies that push the boundaries of his sport.
On points per possession, he decluttered the Rockets play book. If one play produces 0.8 points and another 1.2, why run the 0.8 plays. Run the 1.2 plays every time.
D’Antoni aims to average 1.16 points per possession. Anything above 1.16, he keeps. Anything less than that is thrown out.
His obsession with 1.16 drives the most unusual strategy in the National Basketball Association and why his team has taken the pursuit of peak efficiency to an extreme. They cut out all plays that don’t work.
What if you did that with your business?
Analyze which are your most profitable products and services. Concentrate on advertising and selling them.
Which customers produce your greatest profits? Concentrate on serving them and developing products and services that meet their needs and fulfill their dreams.
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at katie.lexchron@gmail.com or call 803-359-7633. For an electronic copy through Amazon click here.

Achieve your goals on time – every time

Our friend Ann Elliott agreed to work with us on our 1st book. Its mission was to teach sales people the top 7 strategies of sales super stars. They were great sales people we had worked with over the years. Ann worked with us about an hour and left us a goal setting work sheet.
The sheet required us to write a richly detailed description of the book’s purpose, describe how we would feel when it was finished and published and to set a realistic date for completing the final draft.
Finally we listed each step no matter how minor that we needed to finish the final draft and publish and market the book.
Each step had to say what was required, who would we need to help complete it and a firm deadline for it to be finished.
Using Ann’s work sheet, we listed each thing that was yet to be done and finished the book a few weeks later. The sheet provided a great incentive and a step by step road map to get where we wanted to go.
We use that work sheet with all our coaching clients and in every mentoring session. It helps our clients hold themselves accountable. They never come to a session feeling ashamed a step was not completed.
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com. Get an electronic copy by clicking here.
Copyright 2019, The Bellune Co., Inc.

Your best source of new business

All of us know we should ask for referrals but we too often forget to ask.
Our friend Ruth King advises her coaching clients to place a statement at the bottom of their bills, proposals and the backs of their business cards.
Print “We grow our company through referrals from satisfied customers. If we provided excellent customer service, please tell your friends and colleagues. If we did something wrong, please tell us and we will fix it. Our goal is 100% customer satisfaction.”
This statement lets a customer know that you are serious about providing outstanding customer service and that you appreciate referrals. Some will call you with referrals. Some will let you fix a problem rather than spreading the fact that they were unhappy to friends, neighbors, and social media.
The statement on proposals should be slightly different: “We grow our company through referrals from satisfied customers. If we provide excellent customer service when you become our customer, please tell your friends and colleagues. If we did something wrong, please tell us and we will fix it. Our goal is 100% customer satisfaction.”
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
You can also order an electronic edition through Amazon by clicking here.

Master the short game of business

The “short game” of golf is where you are near the green, chip onto it and putt your ball into the hole.
We’re not just talking golf when we consider the short game. We’re talking about the game of business, life and success.
You may lead great organizations or small businesses. You may be a veteran who feels the hot breath of eager young entrepreneurs on the back of your neck.
They may be able to drive the ball farther or make more sales calls a day. But when you are close to the green, you have an edge. You have more experience and you know the value of practice.
This bit of wisdom comes from Austin, TX, Country Club pro Harvey Penick. If you are a golfer, you should be familiar with his “Little Red Book” on golf.
Harvey maintains that older golfers can excel at the short game with practice. And he recommends you do it with only one ball, just as you would in playing a game.
He says it helps sharpen your focus.
This is true in business and life, too.

  1. The more we practice what it is that we do in life, the better we become.
  2. It helps for someone like Harvey to coach and teach us good practice habits.
  3. Practice keeps us sharp and focused.
    That’s where golf and life are alike.
    We discuss such ideas in, “Maverick Entrepreneurs’ Million Dollar Strategies.”
    For a $20 personally autographed copy, contact us at 803-359-7633.
    Copyright 2019, The Bellune Co., Inc.