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Monday Morning Motivators – July 31, 2006
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Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"Live out of your imagination, not your history."
-- Stephen Covey
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Table of Contents
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1. Lean Metrics: Equipment Effectiveness – Linda Fayerweather
2. Being Specific About Your Target Market – Rebecca Booth
3. Ask People to Arrange a Meeting on Your Behalf – John Meyer
4. To Do This Week
5. Fine Print
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1. Lean Metrics: Equipment Effectiveness
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Equipment effectiveness causes many small business owners and managers to yawn and not pay attention because “we are just a service business, we don’t make anything with equipment.” In the last month, here are the pieces of equipment that small business owners have complained to me about:
1. Credit Card machine is jamming;
2. Computer is overheating due to heat and has to be turned off regularly;
3. Copy machine is out of toner and the store had to order our cartridge;
4. Flood water soaked our phone lines; and
5. We ran out of ______________(you fill in the blank - paper, ink, stamps, toilet tissue)
Overall equipment effectiveness (OEE) is a metric that measures the availability, performance efficiency and quality of your equipment’s output. All businesses have equipment and Steven Covey’s 7th habit is “Sharpen the Saw” reminding us that well maintained equipment is essential. Look around this week and see what your business can do to make your equipment more effective. And if you run into a good excuse this week, let me know at www.mondaymorningmotivators.blogspot.com
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
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2. Being Specific About Your Target Market
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When you need to hire someone, you place a classified ad outlining the specific position for which you’re hiring. The same holds true for any online dating service ad you may place. You specify the kind of person you want to meet in the personal, sometimes down to the body type and hair color! So why is “everyone” your target market?
By being specific you’re painting a picture in someone’s head as to what your ideal client looks like. Here’s an example: Jeans West is a jeans manufacturer competing against Levis, Gap, etc. Their ad campaign focuses on the price of time. One woman says, “These jeans cost me 2 hours.” Another says, “These jeans cost me 45 minutes.” Who’s their target market? Hard-to-fit professional women who have overbooked lives.
Is that too small of a niche? Certainly not! What Jeans West has done is stamped their niche very clearly in the minds of their customers. They’ve also stamped a clear picture into the minds of those not needing jeans today. Chances are the next time those people are shopping for a new pair of jeans they’ll remember Jeans West because their specialty is the right fit!
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
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3. Ask People to Arrange a Meeting on Your Behalf
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When one of your sources tells you about a person you should meet, someone you consider a key contact, they can help you immensely by coordinating a meeting. Ideally, she will not only call the contact and set a specific date, time, and location for the meeting, but she will also attend the meeting with you.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
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4. To Do This Week
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Develop and record your emergency financial plan –
think: What if the power is off for 7 days?
