Nicholas Bate

You can't afford to be a commodity

because if you are you will only be able to sell on price and thus you will have to discount and thus you will lose margin and thus you will be stuffed. You must create difference. But what if you don't really have any? They offer it in red, you offer it in red; they do 24 by 7 service, so do you. Then you must differentiate through superior skill: by getting them to percieve that you offer difference. Sure, you both offer red but yours is a better red. Sure you both offer 24 by 7 service but yours comes with a smile. You just need to work harder. Ask more, listen more. Sell more. The simple process of that will differentiate. Can you do that? Sure. That's your real USP: you work just that bit harder which makes the difference.

1 Way to Get Great Clients

Don't mess about any longer: fire the dreadful client. That will immediately free up time for (1) searching for new quality clients (2) servicing your current great clients.

Give it some serious thought. Please.

5 Ways to Get More (Profitable) Money from your Small Business

1. Increase your prices/fees-just a little.
2. Chase your debts sooner and harder-just a little.
3. Reduce some costs-just a little.
4. Sell more in each transaction-just a little.
5. Start today: a few 'just a little's will have a huge impact.

How much a cup of coffee?

Whether you are in London, Paris, New York or Moscow it's early in the morning and you want a cup of coffee. How much will you pay? It depends; here in London you could pay anything from 50p through to £4.00 and I'm sure some readers will know of prices beyond those ranges at either end. Are those prices fair? Some seem ridiculously high; some seem worringly cheap!

Yes, they are all fair. Because people pay for them. A price is fair if it is sustained, if it is of value to the person wanting it. How much a bottle of water on a cold winter's day when you are perfectly hydrated? And on a blisteringly hot summer's day and you are 'parched'?

When setting your prices, move away from the defensive and just watching your competition. Build the value and defend the price.

And you are still wondering why...

...to start your own business? Then read this. Choose your favourite ten and re/re-read them every day until you launch. Good luck.

WOM accelerators

Undoubtedly, the best way to boost business is through great word-of mouth. This will happen naturally over time if your product and/or service is good. Can you accelerate the process?

Yes:
ask people to do more word-of-mouth ('please tell your friends').
ask people for real references from real people. Publish these references.
remind people who you would like them to tell (the IT director? their girlfriend?).
make it easy for them: give them a simple story ('it really is the best pizza-dedicated Italian restaurant in California').
go-back to the originators of word-of-mouth and thank them.

Back to Business...

Here in the UK, the 'Back to School' signs in shops have been up for weeks; various retailers waste no time in convincing you NOW is the time to get a new protracter, football socks and a new school tie. Of course, those of us in business can't relax either as the new term looms:

Back to Business

Top Technology
Are you doing all you can in this area to make your life as easy as possible? And do remember easy and ready access to e-mail does not necessarily make life easier. Perhaps be radical and ditch some technology? Finally technology is generally relatively so cheap that if your employer won't pay: get it yourself. If it helps work/life balance it's worth it many, many times over.

Looking Good?
Maybe it's time for a new suit? A proper overcoat? Unfortunately many do judge by appearances. Dress as you wish to be perceived. I know you can get away with jeans.......Take a fresh look at your appearance for the new term.

What's on the syllabus?
The great thing about being in business as opposed to school or college is that you don't have to work their tedious syllabus: you can make up your own. You do have one don't you? Otherwise it's a little tricky to pass the exam....

Sorry to mention it....but there is an exam to be passed.
Is every one clear what it is? What's needed for a pass? A distinction? Cool.

Welcome to the new term. (You may like this: How to be Topp)

We are all in the coffee business

Some businesses are

Espresso businesses
Lean, mean and to the point. They are rapid to cause effect. They are no-nonsense businesses. They are not necessarily cheap when considered in terms of hit/time, but they are good value and they don’t waste your time.

You may well want to be an espresso business. But you will need to be good. You can’t hide a bad espresso. Is the crema authentic? Has the cup been pre-warmed? Attention to detail is critical. Especially as espresso drinkers know what they want.

Latte businesses
Of course you could be a latté business. Not quite so powerful in one go as an espresso business, but the effect is there and it’s a little gentler on the stomach. It’s good value. And most people trust a latte; they’ve had one before and they will have one again. Unlike an espresso, it’s more difficult to make a bad latte.

Cappuchino businesses
This business certainly looks good: flowers in reception area and expensive furniture. First taste is great. Afterwards though you are sometime unsure as to whether you made the right choice: it all went so quickly. But funnily enough people will want you again, because of that very effect

Mocha businesses
Only trouble is do your customers know what they really want? Will they be loyal? And do you know what you are trying to provide? You’ll probably always be a smaller share of the market. But that’s OK because your margin is surprisingly high if you get it right.

Frappuchino businesses
You are cool, there is no doubt about that. Flexible. An amazing array of flavours. But a little seasonal and sometime slow to deliver. And quality control can go wrong. It’s a high risk business you have decide to run, but when you are on a roll, the margin is delirious.

It’s best to know what business you are in. It’s no longer coffee; black or white, sugar or not (except, that is, in one or two Northern England seaside towns, and don’t we love Scarborough?).

Know your market segment. Love your market segment.

Time for a coffee?

Beyond the carrot and the stick: the torch

Leadership is more than the carrot. There's rarely a carrot big enough to get the best behaviour out of people. And if there is, those amazing bonuses soon wear off. And the stick? Well, nobody seriously thinks frightened, anxious people give of their best.

No, great leadership is much more about clear direction, hope. It's about clarity of purpose. It's about answering the question: "Where on Earth are we heading?".

Great leadership is about carrying the torch.

Who's carrying the torch in your organisation? And what's it revealing?

Me Inc.

"We are CEOs of our own companies: Me Inc. To be in business today is to be head marketeer for the brand called you"

Tom Peters