News from Executive Forum of the Lehigh Valley
The Lehigh Valley Executive Forum is about helping others achieve continued success in their field. We are a connection to qualified business owners and are a continued resource for our membership group. At the October 31st meeting at the Sands Conference Center, Executive Forum members took the time to share business tips with each other. Each member was tasked with the goal of bringing one business tip that they felt worthwhile to share with the entire group. Below are the tips that were shared:
Sandy (K&H) – make sure the appearance of your facility reflects the message you want to send to customers, visitors It needs to matches your brand and identity.
Barry (Your Neighborhood Drycleaner) – consider using text message reminders to customers to remind of appointments and communicate with your customers.
Todd (Sandler Training) - don’t sell features and benefits (your competitors will be selling them). Instead, fix dysfunctions for your customer. You can say these are the typical problems I come across – how can I help you with them. It enables you to differentiate yourself.
Beverly (Corporate Facilities) – for multigenerational companies, make employees happy by offering more individualized products – workstations. Customizing will improve your results.
Lucille (HR Exec Consulting) – advertising and marketing should be considered a reinvestment in your business – treat it as such. Inform clients periodically about current HR policy changes.
Matt (Christmas City Studio)– make a goal the fixed part of your plan and adjust how you reach that goal. Start at the end and work back.
Bruce – if involved with a non-profit, remember that the non-profit should run just like a for-profit business.
David (Minuteman Press) – analyze advertising spending to determine what new business you get from it.
Bryan (Moonstone) – take care of small problems now so it doesn’t become a larger problem later.
Nancy (Eastern Engineered Wood Products) – stay on top of health and safety training in your office place. Invest in an AED, you can save a life.
Glen (Beck Packaging) - successful people use their resources. Sell what’s in your bag, including yourself.
Ray (Modern Plumbing) - if you can do upfront, flat standard pricing models, it will save time and money and cut back on AR and unpaid bills – helping to keep costs down
Jennifer (Keller Williams) - keep all past clients in a database. Have preprinted address labels and use to send handwritten note cards to customers each week. Set a goal for how many you are going to send and stick to it. Send a coupon for something free (bakery item, etc)
Kevin (Allentown Mortgage) - Before you need it, get your personal financial house in order. Remember, it's easy to get money when you don’t need it.
Vern (BB&T) - keep your identity and money safe. Remember if the offer sounds too good to be true – it is. Verify the situation before you send any money.
Dave (Faulkner) - #1 pillar of a company is Employee Satisfaction that is even before Customer Satisfaction. Do what you need to do to keep employees happy – take an independent employee survey.
Jon (Morris Black) - Look ahead. what is next best thing? If you settle for where you are now – you will go backward.
Victor (American Ven) - There is a huge value in business coaching. One of the things they implemented is a dashboard of jobs so everything is right in front of you.
Ken (Stiffel) - take inventory of all financials and risk profile. Make sure of estate planning if you own business and that there is liquidity there in case of a required partner buy out. Make sure you won’t end up in business with the spouse of your partner.
John (Buckno Lisicky) - Manage cash flow thru budgets and look ahead at expenses. 1st pay employees then pay the government. Make sure beneficiaries are who you want them to be.
Erich (Fitzpatrick, Lentz, Bubba) keep quiet till you talk to your attorney. Be responsive with your clients.
Matt (LR Costanzo) Know your employees, communicate with them often, build a relationship with them. Keep them safe.
Tom (SVN Imperial Realty) - Specialize, it will make you more efficient and allow you to provide better service.
Jim (American Red Cross) - People do business with people. Take care of health and safety of your staff.
John (HMK) - don’t assume that people know what you do – develop a plan to let everyone know all the things you do.
Jeff (Thrive Media) - Look at the online reviews for your company – Google, Facebook, industry sites, - make sure you take care of bad online reviews. Ask your good customers to give you a review.
Everyone that attended left with great ideas to grow their business, plan for the future and succeed into 2019!