n optometry practice had been trading for over 20 years under a previous owner’s name as their business brand. The business offered a broad range of optometry services in line with most mainstream optometry practices. CHALLENGE The business did not stand out in the marketplace. With increased competition, the business was seeing sales decline and the need for discounts to compete within the market. This strategy was not sustainable. The business sought the advice of its Accountant to see if they could reposition the business and enable them to escape the price-cutting cycle. ACCOUNTANT’S ROLE The Accountant surveyed existing customers [...]
There are many ways to market your business, and the key to maximizing your efforts and marketing spend is to inject variety in your marketing plan. The following are four tips on how you can diversify your marketing to increase market reach and impact. Revitalize Your Business Branding If your brand hasn’t had a makeover in many years, it may be time for a new look. This can be one of the most creative and fun aspects of your marketing plan, but it should not be left to amateurs. Remember, your brand is the cornerstone of your marketing. Work with [...]
Failure is part of the business profit. Colin Dunn explains how to take risks without betting your whole business.
3TV | CBS 5 Aaron Blau, EA, CPA contributed to this story by 3TV/CBS5's Ashlee DeMartino. If you have any questions about deducting losses from gambling winnings, please contact our office to set up an appointment.
Do you spend any time working on your business? Or do you spend all of your time in your business?
GIVE YOUR BUSINESS DIRECTION Strategic planning is important for your business because it provides a sense of direction and outlines measurable goals to keep you and your business on track. In order to make the most of strategic planning, your business should give careful thought to the goals it outlines and then back up these goals with realistic measures for evaluating results. Here are three tips on how to create business goals and things to consider: Plan Strategically: The goals you set for your small business will be unique to your particular operation. Goals can include income or customer [...]
It’s an incredible thing when a little idea grows to something bigger than you could have imagined. Jack and Angela McGregor started their business as a “hobby” Angela was a homemaker and it gave her a creative outlet. The intention was that the business would pay its way, and with luck, earn the family a little extra income. It did all this and more. How it grew! Problem The business was totally reactive. Angela was constantly putting out fires. This was not the creative outlet the McGregors planned but its income potential was irresistible. They needed help on many fronts. [...]
Blueberry Trailers was established by Jack Jones in 1970. Since its humble beginnings as a husband-and-wife-based business, the company has grown to manage 30 team members across two factories and build approximately 50 custom trailers per year. That said, along the way it has had its struggles. In 2012, Jack suffered a non-fatal heart attack and it suddenly became his children’s responsibility to keep the business alive while their father recovered in the hospital. The transition in management wasn’t easy. Dave and Peter were forced to step into their roles at a young age. They had no training or knowledge [...]
Jeff Immelt, the CEO of General Electric, once said that he has only two items in his job description: One is to retire with the value of the company exceeding that when he took over and the other is to find a successor. Succession planning acknowledges that your team members will not be with a business indefinitely. It provides a plan and process for addressing the changes that will occur when they leave. You often hear of public companies ‘grooming a successor’ for the CEO position or other lead roles, where the purpose is to create leadership continuity so [...]
Leads slip away unless you have a response to fight common objections (timing, pricing, etc.)Capture & Document objectionsCreate a script to respond to common objections with a standardized responseShare the responses with your team & practice the responseClose more business!Follow these 4 easy steps, and you will see your revenues increase!