I have never made this kind of opportunity available to my reader. I am not sure I will again. You have an opportunity to hear first hand how someone took themselves from eating out of trash bins and living under a bridge to becoming a billionaire.

During the last government bailout of banks (the Savings & Loan crisis) my friend, Bill Bartmann, went from bankruptcy-to-billionaire.

He’s lived what is arguably the most astounding “rags to riches” story in U.S. history. Who else have you ever heard of going from homeless teenage alcoholic high school drop-out, to the 25th wealthiest American???

Most important and relevant to you, the business opportunity that made Bill wealthy beyond belief is now back with a vengeance after being dormant for more than 10 years. Even better, this same opportunity is now available to individuals who know about it and how to take advantage.

This coming Thursday Bill will be my guest on a special invitation only webinar. During our hour together, Bill will share how he accomplished what he did and he will make major announcement to make that for some on the call will be life altering.

In addition, Bill has agreed to explain the specifics of how you can make money from this “down” economy (while helping others). He’s someone to pay attention to, because in one year during a similar “bad” economy, he amassed $182 million dollars in personal earnings.

Interested? Here’s how to get registered:

Registration:
The Billionaire Nobody Knows: The Astounding Story of How Bill Bartmann Went from Bankrupt-to-Billionaire During the Last Banking Crisis and how he’s doing it again today (this time with partners like you!)

Date: Thursday, August 5th
Time: 2:00 PM EDT/1:00 PM CDT/12:00 PM MDT/11:00 AM PDT
Limit: 1000 attendees (first come, first served)

CLICK HERE TO REGISTER
Or go to http://bit.ly/ronandbill

See you on Thursday Aug 5, 2010

Ron Finklestein

P.S. While I promise you will leave this program motivated and also likely with a new path to wealth, I unfortunately can’t accommodate everyone. Our service provider limit is 1000, so if you want to be included go to http://bit.ly/ronandbill right now and get registered. And please exercise the professional courtesy to not take up a spot that someone else would want if you’re not going to definitely attend. Thanks so much!

P.S. Because we all busy please take action now. This webinar fills quickly. I will post another notice. If you are interested and cannot make this date and time, please register so you will receive notification of the replay date and time.

Watch this 13 minute video to see why thinking differently is important and how to begin the process of thinking differently to grow sales, grow effective teams, become a master marketer and master many of the skills a small business owners need to master to become successful.

Why do most larger companies have a board of directors. The role of the board is to hold the management team accountable for executing strategy, clearing out obstacles, provide feedback on critical issues, mentoring and providing business coaching to the president and other critical management team members.

Some coaches excel at helping you  improve people skills. Other are more experienced at  building an effective team. Still others are more effective at  growing sales.

Study after study have shown the effectiveness of  business coaching and  business coaching programs to help you and your company is useful, if you are open to being coached. It is impossible for you to be an expert in all areas of business.

SCORE states that 70% of all businesses that fail do so because they do not know when to ask for help or ignore problems when they happen.

Do not be one of the 70%. If nothing else a good  business coach will provide feedback and accountability to move you forward. And the good news is if they do not perform you can fire them.

Find someone to help you.If you have a business coach and they are not helping fire them.

Ron Finklestein
Ohio Business Coach
330-990-0788
RON@AKRIS.NET

As a business coach, All business owners think their business is unique and no one can understand it like they do.  Wake up! All businesses have a set of clearly defined rules, when understood, make great sense. All businesses have some aspect of uniqueness to them but sound business practices work in every business.

RULE #1: Nothing happens until you sell something.
RULE #2: If you don’t know how to sell, ask for help.

Business owners typically have a strong need to be in control. They incorrectly believe that asking for help is a sign of weakness. This is not true. Business owners who ask for help have a tendency to do better than those who do not ask for help. Look at it this way.

Every Fortune 5000 company has a Board of Directors who job is to help the President with problems and hold him accountable for growing the business and doing what is in the plan. If they have help, shouldn’t you?

Every professional athlete has a coach. Why? Because we cannot be objective about our strengths and weaknesses; we cannot step away and see ourselves as others see us. It just is not possible. If Tiger Woods has a coach, shouldn’t you?

The biggest problem I see is that most business owners do not know how to sell. They have never been trained in sales.

RULE #3: Ask for help.

Many business owners do not know when they are in trouble. If they are not experienced they may not know they are in trouble. Henry Ford failed in his first car company and he filed bankruptcy. Walt Disney filed bankruptcy twice. Thomas Edison had 18 jobs in 12 months. Later in his career he took a $750K loan from Ford to get over some tough spots. I could list many more examples, some famous and some not so famous, who had problems and did not ask for help.

Business owners are busy people and they have a tendency to do everything themselves. After all they can do it faster and better themselves. This is true, initially. What business owners do not understand is that at some point in their business growth they must go from being a doer, to being a manager, to becoming a leader, if they are to thrive and prosper. The business owners who do not make this transition usually sell or lose their company.

I have a client who was promoted to CEO. She said “I could not believe some the decisions that were being made when I the vice president. I thought they we so dumb. As CEO I now have a new perspective for what they were looking at. Those decisions I thought we dumb are not so dumb from this perspective.”
You must understand that not one business owner was successful by themselves. Ford had Firestone and Edison in his mastermind group, Edison and Ford had their team of inventors, Carnegie hired professionals to manage his companies because he knew his strength was not in management but in sales.

RULE #4: Build your team and use them to help you make better decisions.

Not one successful business owner did it by themselves. Everyone needs someone to help them. It would be easy to give you testimonials of business owners who talked about a trusted advisor, a partner, coach, teach, mentor, spouse or others who made it possible for them to succeed. Smart business owners have their own trusted advisors, however informal, to keep them focus on what is important.

The business owners who are results oriented will ask for help. They know they are not an expert in every area of business and they ask for help before they take action. Successful business owners measure everything and their behavior is driven by what works.

Do yourself a favor. Create the relationship with a business coach, mentor, and board of advisors now before you need it, so you can avoid the types of situations that will cause trouble. If you are not sure how to do this call me. I can help with this.

Your business coach

Ron Finklestein
303-990-0788
ron@akris.net
www.rpfgroupinc.com

Do you want to make more money and grow sales. One of the hallmarks of an entrepreneur is that they are typically a confident bunch. You need that confidence to start a business. I often hear people say “they would be profitable in year one.” I also hear “I can sell anything.” Reality often provides a different lesson.

When I first started my business, I thought people would see my experience and appreciate how safe it was in working with me. They would see how knowledgeable I was and immediately understand the benefits of working with me. They would flock to me.

Boy was I wrong! I never met a sales projection in my early years.

To grow sales, I had to learn new sales and marketing skills, budgeting skills, and time management skills. The effective hourly rate was too high for the market I was selling into. The competition was intense. I was dealing with job seekers who were taking the work at pennies on the dollar just to put food on the table. Some of these guys were good. Some just wanted the work. Since their primary effort was on the job search, understanding how to price was not important to them. After all they just wanted to pay the bills.

I underestimated everything because I did not understand the market.  When I did close a sale, instead of closing in one call, it would take three, four or sometimes five sales calls.

It seemed they always had to check my competitors.

If I had built my business plan first that addressed growing sales, I would have understood these problems before I went to market. I would have understood my weaknesses better and put a plan in place to address these weaknesses. I would have understood the competition better. I would have understood why people buy this particular product or service and how to price it based on  market demand.

Here are some rules to follow that work.

RULE # 1: Never be overly optimistic. What you want always takes longer that you expect. Budget both time and money for this.

I was speaking with an accountant and he said people always underestimate the road to profitability. It usually takes 3-5 years just to start making money and 10 years to reap the rewards we expect. I am not sure I totally agree but I can understand where he is coming from.

RULE # 2: Test your assumptions. Ask others who have been there and done that. They will help if you ask correctly.

In other words, do your homework! Call prospects and ask them why they buy and how they buy. Call customers and ask them why they buy from you. I was cold calling and reached an owner of a business. I asked him if he ever bought from someone who cold called him. He said no. If he needed something and he did not have an existing relationship, he called his friends and asked them who they used! I stopped calling him because I knew it would be a waste of time, both mine and his.

When you understand the market and do your homework it is hard to be over optimistic about money and sales. It almost always takes longer that you think.

Call me if you have questions or need help to grow sales.
Your Business Coach
Ron Finklestein
303-990-0788
ron@akris.net
www.rpfgroupinc.com

As an experienced business coach I often see what people do, without knowing, to fail.

Today I want to address another reason businesses fail: not pricing properly.

A strong argument could be made that the pricing issue should be addresses in the business plan. Let’s assume it was addressed in the plan but the pricing is not correct. Let’s look at three reasons why this could happen?

1.    You never tested the pricing in the market or adjusted the pricing based on market demands.
2.    You did not include overhead or cost of sales in your pricing model
3.    You had wrong assumptions about pricing

Let look at why testing is so important. Several years ago I created a product and the intent was to buy my way into the market. I purposely priced it very low to make it attractive to my prospects. After talking to several people I realized this was a big mistake. Why? I priced it so low that people questioned the value. If it was so good why was it priced so low?

Over time I raised the price until I no longer heard questions about the value proposition. The questions changed. Now they are asking how they can afford it. Part of the reason the questions changed was that I built a better business case. I showed them why this product is important and how it could positively impact their business.

Ask yourself this question: Are you sending the wrong message to prospects by pricing to low (high)?

Let’s turn our attention to not including overhead into the pricing model. When pricing our products we need to include such things as overhead (phones, rent, cost of marketing, bookkeeping cost, cost of sales, salaries, etc) into our pricing model. If we do not include these items, we do not know if we are making a profit or if the profit we are making is enough to cover our expenses. Have your accountant help you with this. There is more to it than meets the eye and more then I have listed. I had many clients complain how busy they were but not making any money. Once we investigated the pricing model and assumptions we found they were selling the products below their cost.

The third issue is having wrong assumptions about pricing. This has more to do with your belief about pricing than anything else. If you think your product is only worth a specific amount, then that is all it is worth. In reality, the market may pay more. It is important that you test your pricing in the market. Compare your price to your competition, ask your prospects, and check with your business associates. Ask you accountant to verify your pricing against industry standards. Likewise the other extreme can happen: you believe you have THE product and you expect the market will come running to you so you set the price really high. After all, you invented a better mouse trap and the world should beat down the doors to get your product. Yet nothing happened. You may have built a better mouse trap but the world may not understand. It may not be a pricing problem but a marketing problem.

As a business coach I realized it is all about testing, measuring, and changing as you set pricing. It is always easier to set a high price and lower it than it is to set a low price and raise it, especially for existing customers.

So how did I handle the low price to the high price transition? Good question! I have maintained the price for those early adopters and as they move out of my program I raise the price to the new customers.

Call me if you have questions or need help.

Ron Finklestein
303-990-0788
ron@akris.net

]]> http://www.yourbusinesscoach.net/107-not-pricing-properly.htm/feed 0 http://www.yourbusinesscoach.net/101-no-cost-no-obligation-assessment.htm http://www.yourbusinesscoach.net/101-no-cost-no-obligation-assessment.htm#comments Mon, 13 Jul 2009 20:43:33 +0000 Ron Finklestein http://www.yourbusinesscoach.net/?p=101 If you are a business owner looking for a business coach and you live in any of the following communities, I will visit your office and provide a one hour, no cost, and no obligation, to see if it makes sense for us to work together.

Nothing is off the agenda. We can discuss lead generation, and lead generation techniques, peer groups, advisory boards, leadership, building effective teams, growing sales, increasing revenues, people effectiveness, teambuilding, small business marketing, business coaching, performance management, to name a few.
Just email me at ron@akris.net (or call at 330-990-0788) to schedule your date and time.

The following locations are within easy driving distance and I would be happy to visit. If you are outside this area, please contact me. Though I may not be able to visit I can provide the same service over the phone, via email or over the Internet.

Summit County
Cuyahoga Falls
Stow
Hudson
Barberton
Norton
Green
Springfield
Tallmadge
Mogadore
Richfield
Peninsula
Fairlawn
Bath
Copley
Coventry
Silver Lake
Sagamore Hills
Boston Heights
Macedonia
Montrose

Canton and all Stark County Ohio including:
Uniontown
Alliance
Jackson Township
North Canton
Canal Fulton
Massillon
Hartville
Waynesburg
Sugar Creek
Louisville
Minerva
E. Sparta
Brewster
Medina and all Medina County Ohio including:
Brunswick
Hinckley
Brecksville
Granger
Sharon
Wadsworth
Westfield
Litchfield
Guilford
Lafayette
Kent and all Portage County Ohio including:
Ravenna
Brimfiled
Suffield
Randolph
Rootstown
Streetsboro
Atwater
Deerfield
Aurora
Freedom
Hiram
Edinburg
Palmyra
Shalersville
Wayne County Ohio including:
Wooster
Doylestown
West Salem
Canaan
Marshallville
Orrville
Dalton
Sugar Creek
Lebanon
Shreeve
Maysville
Congress
Creston
Sterling
Rittman
Smithville
Fredericksburg
Apple Creek
Kidron
Carrol County
Tuscarawas County
Lake County
Geauga County
Cuyahoga County
Bay Village
Beachwood
Bedford
Bedford Heights
Bentleyville
Berea
Bratenahl
Brecksville
Broadview Heights
Brook Park
Brooklyn
Brooklyn Heights
Chagrin Falls
Chagrin Falls Township Township
Cleveland (County Seat)
Cleveland Heights
Cuyahoga Heights
East Cleveland
Euclid
Fairview Park
Garfield Heights
Gates Mills
Glenwillow
Highland Heights
Highland Hills
Hunting Valley (part)
Independence
Lakewood
Linndale
Lyndhurst
Maple Heights
Mayfield
Mayfield Heights
Middleburg Heights
Moreland Hills
Newburgh Heights
North Olmsted
North Randall
North Royalton
Oakwood
Olmsted Falls
Olmsted Township Township
Orange
Parma
Parma Heights
Pepper Pike
Richmond Heights
Rocky River
Seven Hills
Shaker Heights
Solon
South Euclid
Strongsville
University Heights
Valley View
Walton Hills
Warrensville Heights
Westlake
Woodmere

Lorain County
Amherst
Avon
Avon Lake
Beaver Park
Belden
Brentwood Lake
Brighton
Columbia Center
Columbia Hills Corners
Columbia Station
Elyria
Lorain
North Eaton
North Ridgeville
Oberlin
Penfield
Penfield Junction
Pittsfield
Rochester

Just a quick review. Nothing is off the agenda. We can discuss lead generation, and lead generation techniques, peer groups, advisory boards, leadership, building effective teams, growing sales, increasing revenues, people effectiveness, teambuilding, small business marketing, business coaching, performance management, to name a few.

Just email me at ron@akris.net (or call at 330-990-0788) to schedule your date and time.

The following locations are within easy driving distance and I would be happy to visit. If you are outside this area, please contact me. Though I may not be able to visit I can provide the same service over the phone, via email or over the Internet.

A business coach’s view on ineffective prioritization.

Many business owners, especially first time business owners, confuse accomplishments that are achieved with results; Think of it as the difference between being effective and efficient. Effectiveness is doing the right things, efficient is doing thing right.

Maybe an example will help.

I am a small business owner. If I spend all my time responding to emails (assuming it is not an email based business), I am being very efficient but not at all effective. I am efficient at answering email but I am not effective at growing my business.

I had one client who had a very efficient way of doing things but it was not what the customer required so they were not effective at keeping customers.

What are the activities you have to do daily that will ensure your success? Here is a suggestion. Build a little spreadsheet that has daily actions down the left side of the page. Have the days of the month on the top of the page.

Each day you do the required tasks put an “X” in the associated box. At the end of the month you will quickly see what you did and did not do. To build effective teams, have your team do the same things.

This way there are no excuses. There is no doubt that you are doing the right things.

If you are doing the right things and not getting the desired results, you know where to spend your time and money in creating new or improved skills. Let’s say you need to prospect daily. Every day you do not prospecting and you are not developing new customers. Successful people do what they have to do not what they want to do.

Call me if you have questions or need help.

Ron Finklestein
303-990-0788
ron@akris.net

1.   Get clear on what you want, make a decision to go for it, then take action.

2.   Stay focused on what you want.

3.   Surround yourself with people that will hold you accountable and tell you want you need to hear, not what you want to hear. Research, research, research!

4.   Do the things that you are afraid to do or don’t want to do.

5.   Do not be afraid to ask for help you need it.

6.   Do not be afraid to fail. Test, test, test. Failure is essential to success.

7.   Ask for what you want, and keep asking until you get it.

8.   Never stop learning.

9.   Figure out what works and keep doing it.

10. Do rules 1 through 9 again.

According to SCORE, businesses fail for many reasons. I listed the top eight below.

Lack of a well-developed business plan  78%
Not pricing properly  77%
Being overly optimistic – sales, money  73%
Not recognizing, or ignoring, what they don’t do well
 and not seeking help from those who do  70%
Ineffective prioritization  66%
Denying problems exist  65%
Minimizing the importance of marketing  64%
Insufficient business experience  63%

Not having a business plan is the single biggest reason a small business fails and it drives all the other reasons a business fails.

Let’s translate what will happen when these problems occur:
1. Can not grow sales
2. Can not improve people skills
3. small business marketing suffers
4. can not build effective teams.
5. not reaching out for help – especially business coaching

A business plan has four primary objectives:
1.Defines what you do and why others will buy from you and your firm
2.Define the markets, companies, people, etc who can buy from you and how to reach them
3.Defines the road map to making money, where you need to spend your money (i.e., marketing, Internet, computers, fax, telephones, etc)
4.Defines weaknesses where you should be looking for help or areas to you need to address

A business plan is essential. You would not try to build a house with blueprints. Why would you start or run a business with the same type of blueprints.

The strange part is that if you don’t know how to do a business plan you need to ask. Number four above, really should be number one. If you don’t know what you don’t know, how do you know you don’t know it? How do you know to ask for help?

A business plan, depending on its purpose, can be a short as one page or more than 100 pages (venture capitalists want to know everything).

Just going through the exercise of writing a business plan will tell you more about what you don’t know about your business than any single exercise.

A business plan is a living document that should change as you and your business change. I will give you seven simple questions that you need to answer as part of your business plan:
1. Why are you in business? If you are not really passionate about your business, you will have trouble during the hard times and, most like you will lose interest and fail.
2. What are you selling? What problem do you think your product or service solves for your target market?
3. What is that one thing you do better than anyone else in my market? It could be as simple as free shipping to a lower price point using a new production break process.
4. Why would your target market care about what you do? Put yourself in their shoes and ask yourself “what’s in it for me?”
5. Why would your prospects buy from you? Even if you are the best, will people buy form you and if so why?
6. How much money do I need to get started? Do not underestimate.
7. How will I make money and how long with it take before I am profitable.

I do not expect you have these answers to all these questions immediately (except #1). The answers to these questions will changes as you mature as business owner and you gain in understanding about your marketing, your industry, your products, your customers and your services.

The important part of this plan is to test everything. Ask your prospects and call your competitors, do research.  If you spend some time up front answering these questions, you will save yourself much pain and suffering.

Call me if you have questions and a free consultation.

Ron Finklestein
303-990-0788
ron@akris.net