Gregory Woloszczuk

Small Business, Big Lessons: Personal Guarantees

As we have touched on in previous articles, in a small business, almost everything you do will require a business and personal guarantee. Given that many suppliers, including your lease will have those requirements, it is important to go in understanding your risk and exposure. It can be long after you sell your business that one of those can still come back and cost you thousands of dollars. This week I will share a personal example that while we “won” was an expensive lesson well after we sold multiple locations. I hope by sharing this experience it will save...

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Small Business, Big Lessons: Developing Your Team

You have heard and probably said yourself that the people on our team are our most important asset. What have you done lately to invest in them? Do you have a clear development plan in place? Plans help both near-term success and long-term retention of employees. They need to include both short term 0-24 month investments as well as a rolling 2+ year plan. The plans must align to the business and employee needs with clear measurements. Below are a few methods to develop your team and a template to track the budget and success. 1)    OJT (On the Job...

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Small Business, Big Lessons: Clear Communication

Do your Customers Speak Vulcan Have you ever presented a proposal to a prospect and they looked you at you as if you were Doc Brown in “Back to the Future” talking about needing 1.21 gigawatts to power the flux capacitor? All too often, we slip into speaking our own specialized lingo and assume everyone else knows what we’re talking about. But when it comes to business, it literally pays to be understood. I recently attended a seminar and the speaker asked everyone to raise their hands that was familiar with the topic.  At most a third of the room...

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Small Business, Big Lessons: Winning in a Low Margin Business

Regardless of the business you’re in, competition never gets easier. If you read the news, it doesn’t take long to notice just how many long-established businesses are closing their doors, or just barely hanging on. From big box retailers to local restaurants, no one is immune to competitive pressures. Despite all that, many small businesses continue to thrive. But how? There’s a number of critical success factors to take into account: value to your customers, consistency and engagement being three examples. Customer Value – Customer value starts, obviously, with the customer. What the customer needs, how your business can...

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Small Business, Big Lessons: Information Regulation

In April, the European Union passed the General Data Privacy Regulation. The GDPR goes into effect on May 25 this year, and is focused on the core issue of regulation that gives citizens of the EU more control on how their personal data is collected and used. This is especially critical if you market internationally, and your business may have already received GDPR compliance information, along with new terms and conditions to accept from companies supplying your marketing automation tools. The United States is also looking to implement similar laws. There are quite a few high-level concepts to cover...

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Small Business, Big Lessons: Steps to a Successful Live Radio Remote

Live radio remotes were once commonplace, and though they’re a bit less so these days they’re still an excellent way to engage with the local community. A well-done live radio remote can be an effective part of your overall marketing plan, and provide a boost to the visibility of your business. Today’s we’re going to walk through some of the considerations and expectations for remote broadcast success. 1)    Reason for the remote – A live remote is a special occasion! It’s a unique experience and setup that flips the script on a normal broadcast. Celebrations are typical setups for live remotes...

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Small Business, Big Lessons: Spring Cleaning

The tradition of “spring cleaning” doesn’t end at the home. A small business also needs care and attention, and there’s no better time than the present. Keeping your business literally and figuratively tidy as the seasons change will free up physical and mental space, reduce warm weather-related issues and give you an opportunity to use some creativity in your business. Let’s look at some areas that could probably use some sprucing up: 1)    Maintenance – Before temperatures really start to spike, have your HVAC inspected and any refrigeration equipment maintained. Worn belts, plugged filters or low refrigerant always appear as a...

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Small Business, Big Lessons: Building An Annual Marketing Calendar

All too often, small business owners get lost in the day-to-day operations. It’s easy to forget to take time to plan, to balance strategy with operations. A successful business needs to be simplified and streamlined – and a successful small business owner could potentially hand off a part of the business to someone else without sacrificing efficiency or quality. That’s routine marketing! Rather than scrambling to pull together a marketing campaign before typical annual events, how much time would you reclaim if you were able to plan once and then essentially put your plan on auto-pilot? Between Mother’s Day,...

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Small Business, Big Lessons: Sales Funnel

Sales Funnel – Predicting Revenue Do you have a sales funnel? Regardless of your business – yes, you do have a sales funnel. The funnel may just not be documented. The purpose of a sales funnel is to understand the number of leads needed to generate a target revenue. Let’s look at the high-level steps to begin your journey toward having a predictable revenue model. The model will also provide a way to and gain insights on where deals are stuck or lost. It is a data-based methodology to assist with decision making and focus on specific areas to...

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