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Monday Morning Motivators – March 20, 2006
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Espresso business tips are designed to "caffeinate" your mind while your java
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“The crucial variable in the process of turning knowledge into value is creativity.”
--John Kao
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Table of Contents
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1. Lean: Reduce Total Cost – Linda Fayerweather
2. Question #3 – Can You Capitalize on a Niche? – Rebecca Booth
3. Don’t Pass Up an Opportunity to Speak – John Meyer
4. To Do This Week
5. Fine Print
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1. Lean: Reduce Total Cost
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Cutting costs is best described as spending wisely. To be a careful spender means understanding where costs start.
-Variable costs are the costs associated with production – labor and materials are the most common. These costs are applied to each item produced or sold.
-Fixed costs are cost your business will pay whether a sale is made or not – rent, utilities, administrative and advertising are just some of the costs of doing business.
Knowing your average variable cost percentage and holding your fixed costs to a budget will be a great start to getting lean!
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
Changing Lanes
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2. Question #3 – Can You Capitalize on a Niche?
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You’ve heard it before and you’ll hear it again – if you are marketing to “everybody” you’re really marketing to nobody. What industry do you know that isn’t jammed with competition? There is none. You’ll have more success if you can specify a niche and dominate it. For instance you could be a “massage therapist that works on workers comp cases” or a “CPA for small retailers.” Think small. Think precise. Think niche. Once you zero in on your niche, evaluate your marketing opportunities then go out and conquer the marketplace. You can do it!
Copyright 2006 Rebecca Booth
Marketing Diva
Imagine That!
