September 17, 2015 by

The Results of The CNN Political Debate

cnn

[Ritu Jethani] © 123RF.COM

Last night, in fact as this article is being written, CNN held a three hour debate by the Republican Candidates making the cut for the eleven allocated spots. For anyone who complains about watching a baseball game on TV – seriously three hours?

Here are the results of the CNN Political Debate…  

Not exactly! Here is the question for you in your life and your specific business: Is there a result from this debate which would definitively impact your life or your specific business one way or another?

Please do share this with all of us in the comments section.

The remark often made is that Mr. Trump is an entertainer and therefore he has no place in politics. Wouldn’t it be closer to the truth to say that the political environment which we have today, demands a candidate who is an entertainer?

In the grand scheme of life what is exactly changed by these debates? These are shows put on by either cable or broadcast TV in order to attract viewers and sell commercial time which translates across the board into making money. Mmm?

Sounds a lot like entertainment to me? 25 MILLION estimated viewers were tuning in to be entertained!

For a number of years my travels for work often took me to London, among numerous other international locations. One piece of advice given to me was: “Don’t talk about religion or politics, don’t talk about futbal unless you know what you are talking about and never, ever, ever talk about the Queen! Based upon this advice no stand is being taken here in support of any political party or aspiring candidate. For those in the small business community what do these debates or politics in general do for you in your life or in your business?

Seriously, help me out here – talk to me, what is it that is missing or not clear to me?

It is not to say that the topics covered are not important. They are seriously important. Not one single second was spent discussing how to help the growth of the small business owner. Not one single second was spent speaking about the crushing regulations placed upon the small business owners. Possibly worse is – not one question was asked to bring this topic of conversation to the forefront.

Consider the following: A report by the Bureau of Labor and Statistics stated in the third quarter of 2013 total net job growth by firms with 1–49 employees accounted for 40 percent which was 41 percent for large firms with 500 or more employees!

You cannot overlook the role of small business in understanding the state of the economy in the U.S. Small business owners are innovators and entrepreneurs and are the backbone of our communities – their power should not be underestimated!

It you believe these statements of fact – how in the world is it possible that not one single second during this political debate was spent speaking about small business?

Mitch Tublin is an advanced certified executive coach and business consultant who resides in Stamford, CT.

Filed Under: Business Environment, Small Business Tagged With: , , , , , ,
September 12, 2014 by

What Are Your Top Five Concerns in Your Business?

top5concernsThe articles are starting to come out in a variety of places. The top ten concerns for the small business owner in the coming year. It is not that the topic is not of interest. What is of interest is how obviously self-serving so many of these articles tend to be.

For example, one article had the title or similar to “The Top Ten Concerns For Small Business Owners” and their list was something like, Health Care, Taxes, Lending, Onshoring and a Skilled Worker Shortage on their list among other concerns.

My role is not to speak for you, however, in the small business circles where my time is spent, rarely if ever are these the topic of conversation. 

The top concerns seem to be fairly consistent: 

  • How do I save money?
  • How do I save time?
  • How do I obtain new customers?
  • How do I make more money?
  • How do I hire the right people?

Some of these may appear similar to the first list. However, from my perspective having heard both conversations, these two sets are nowhere close to each other!

You might say health care is definitely an important issue and people are definitely talking about it. Yes agreed people are talking about it. However, to the small business owner and the impact health care has on their specific business, does health care have an impact above the items listed by me above?

Many small business owners discuss their work situation and more and more utilize contracted workers or Form 1099 work forces. This method is a win-win. The Form 1099 worker is in control of their own financial reporting, taxes, health care and more. The small business owner is working with a person with specific expertise and other than payment for services rendered they are not responsible for health care or the other type of typical employment issues.

This is where you come in. What are your top, the really tippy top three concerns you have in your business today? List these in order in the comment area. Why?

The follow up to this article over the course of the next few weeks will be to address your concerns. The exact top concerns you have. Right here on this blog. Of course the top concerns listed above will be addressed as well.

Mitch Tublin is an advanced certified executive and personal coach who resides in Stamford, CT.

* Legal Notice: Nothing in this article should be considered legal advice, employment law advice, tax advice or any type of certified and legal advice in employment, health care coverage or taxes. You should consult a certified professional in these areas for advice on these matters. This article is the opinion of the author not legal advice in these or any other matters.

It’s been a busy couple weeks lining up speakers for the L2: Learn-Lead event in Stamford which will take place on October 10th. Learn more here: http://bit.ly/L2StamfordCTEvent and check out the Facebook page: https://www.facebook.com/L2Stamford. *Sponsorship opportunities available

Filed Under: Business Planning, Business Strategy Tagged With: , , , ,
May 18, 2012 by

Valuable Lesson for Small Business Owners

We Owe Jamie Dimon for teaching Entrepreneurs and Small Business Owners a Valuable Lesson (and every other CEO as well)

Are you a small business owner or an entrepreneur? Are you the CEO of a midsized or larger company? We all really owe a big thank you to one of the most successful Wall Street CEO’s, Jamie Dimon, the current chairman, president and chief executive of JPMorganChase. No, this is not a roast of Jamie Dimon. It is not a skewering of Jamie Dimon article about what may or may not have taken place, or what he knew or did not know about his business. It is the opposite. We owe you one, Jamie.

Everyone who runs a business or a company should personally thank Jamie Dimon. For those who do not know, last Thursday, Dimon announced to various analysts, essentially to the world that his bank had lost $2 billion, yes a ‘b’, by taking a wrong and ‘stupid’ (his words) bet with a hedging strategy utilizing credit derivatives. (Excuse me but how do you actually ‘bet’ with a hedging strategy?)

The market punished the stock of JPMorganChase on Friday and Monday, essentially taking $20 billion in market value off the table, out of the house, gone. Forgive me if this topic is not your typical area of interest. It will be in a moment. You may find billions and credit derivatives to be of absolutely no interest to you. Fully appreciate your view. Here is why this is so valuable. So important, we must pay attention as business owners and leaders of our businesses.

All of us who run our companies need to remember to do one thing every single day. If you are only able to do one single thing – do this and only this one thing.

Do what we are good at doing, do what we are great at doing!

Just do that one thing and you will soar to the top in your field and run a most successful business. It is when we stray off track. It is when we stop listening to the advice of others and think we are the one who needs to give advice and not receive it.

It is then we are ready to fail. You think it is not true? You think this is not about you and your company? Take a look at your vision statement for your business. Read your mission statement for your business. Is this what you and anyone who works with you, or for you is spending their time and efforts on? If not, maybe you need to rework your vision statement and mission statement. Or is it possible you and your company have strayed? You are off track. The business is involved in other businesses and other areas which are off the mark.

Do what we are good at doing, do what we are great at doing!

If you feel you must have these other items done and it is not what you or your business does best – there is a single answer in one word – outsource. This is the solution for your excuses.

Get your business back on track. Just do the one thing you are great at. Contact Mitch Tublin today, to bring your business back to the one thing you do great, at info@thementorguy.com.

Filed Under: Leadership Tagged With: , , , , , , , ,
October 26, 2011 by

Marketing to a Few or to The Masses for Your Business Success

Try a little exercise as you look at the various types of marketing you are exposed to in a given period of time. A week would be a perfect time period.

What are the types of marketing examples you see which are speaking to the masses? How often do you see their message, and in what type of delivery methods?

In a similar way, view the marketing examples you see which are speaking to a narrow niche. Now consider your business and how you market.

Are you marketing to the masses, or do you market to a narrow niche?

How often do you hear someone describe their business at a networking event or to their ideal client by saying, “I work with anyone who has a pulse?” They may not say these exact words, but it is basically what all of us are hearing.

There is no doubt for certain business categories that having a wide audience and marketing to the masses is the best route. But for the majority of small business owners the ability to define a niche will permit your marketing to be more effective and affordable. In fact, for certain service business categories, where the price point for delivery is quite high, it is only necessary to secure a small number of new clients each month.

Once you are clear on your niche category, as you write your copy for your website, your ads, or anything you are working on, are you the only person testing and writing everything? Or do you have the ability to test the voice of your ideal client by seeking out a few proofreaders from your ideal client group. All of your marketing must be easily understood by your ideal client group.

If you are ready to redefine your business marketing, contact Mitch Tublin here www.thementorguy.com today.

Filed Under: Marketing Tagged With: , , , , , , ,
January 16, 2011 by

Strategic Business Planning: An Entrepreneur Has The Edge In Creating Their Strategic Plan

Strategic Business Planning: An Entrepreneur Has The Edge In Creating Their Strategic Plan

If you have never worked in a corporate role you may not recognize how true the statement was the other day by my good friend Lorrie Morgan Ferrero on her free teleseminar for her new course on copyrighting. On her call Lorrie was referencing a recent engagement where she was speaking to corporate folks and she was amazed at the “hoops they needed to jump through to get anything done”.

Reaching Goals with Strategic Business Plan

Evgeni Dinev / FreeDigitalPhotos.net

The majority of entrepreneurs are running either a solo business operation or they have a small group of employees working with them. This permits the entrepreneur to create their strategic business plan in an easier environment and to implement their plan with less challenges. If there are issues there are specifically three:

  1. Taking the first step and creating a strategic business plan
    (over 75% of small businesses do not have a strategic plan)
  2. Working with an adviser or mentor who is pulling you to aim higher
    (over 80% of executive teams spend less than one hour per month discussing strategy)
  3. Having the accountability to stay on course and constantly measure where you are and where you are heading
    (over 85% of organizations do not execute their strategies in a successful manner)

In order to be of service to you and provide you with the type of information you must have to be successful in your business, here are some descriptions of the types of planning which are often utilized in running a business and why they are necessary. This is not a complete list. It is a sampling in order to show the difference in a Strategic Business Plan versus some of the other types of plans which are critical to success as well.

You are welcome and in fact encouraged to add the types of planning you feel are not represented and describe why they are necessary by commenting in the area provided.

A Business Plan – defines the purpose of a business, often includes financial information specifically if being written to obtain funding, describes the legal structure of the business entity, provides a foundation in writing for ideas.

A Financial Plan – describes the money story, includes budgets for past year(s), current year and forecast, especially important if seeking funding.

A Marketing Plan – creates the methods for the business message to get to the outside world specifically to your market, details the chosen areas such as social media (which may have its own plan), direct mail (which may have its own plan), advertising (which may have its own plan) and more.

A Staffing Plan – details the needs of the business to permit growth by hiring or outsourcing personnel for specific purposes and by when, includes the requirements for the roles and more.

An Exit Plan – over 90% of small businesses are privately held and do not have any formal succession plan or exit strategy (http://ventureexitpartners.com)

A Strategic Plan – statements of mission, vision and business focus, a plan of action may be derived from this plan, drives the competitive advantage of your business, the basis of every other plan for your business and more.

These brief descriptions should assist you in your understanding of the value and ease of creating a strategic plan for your business. If you are ready to create your strategic plan for your business or rework your current strategic plan and have an adviser guide you, contact Mitch Tublin at www.thementorguy.com – an expert Business Strategy Consultant.

Filed Under: Business Strategy Tagged With: , , , ,
February 18, 2010 by

Authenticity And Providing A Service

How do you determine what service business you are meant to provide? Do you provide this service with an authentic heart and mindset?
This topic means more today than ever before regardless of the size of your business. People do not trust business.
People have given their life to a company often working 16 hours a day for a company and now are out of work, or working to cover the work of three other people. There is a deluge of internet only based offers which many people have been burned by. You are an entrepreneur or a small business owner so how you differentiate yourself by being authentic and providing that extra level of commitment to your clients? You are the CEO of a Mid to Large Size company.  Is your Board made up of Yes people, are you solely working toward each of the next two quarters to make certain you keep your job and your paycheck, bonus?  What is it you must do right now to show your workforce and your shareholders that you run a different business environment while still providing shareholder value?
Share your thoughts with us here. Coming up next will be action steps to take in addition to the comments provided.

Filed Under: Business Environment Tagged With: , , , , , ,