Fire Bad Customers

Fire Bad Customers

Fire Bad Customers? Are you crazy? It's hard enough to get customers, why the hell would you fire them? We all know this, not all customers are created equal so fire your bad ones. I recently worked with two CEO's who were complaining about their customers. In one instance the CEO was asked to submit a proposal to an existing customer and who was applying pricing pressure. When I asked him why this customer was so important to him, he said they represented about 40 percent of his company's gross revenue. Upon further digging I found out that the 40% revenue customer only produced 2% of his profit. It became clear, that: 1) winning this barely profitable customer at a discount might be losing and, 2) that there needed to be a methodology to evaluate the value of a customer. I'm a student of the human mind and how we often we make bad decisions. I know that if we go with our gut, we are just as likely to be wrong as we are to be right.  Study's show that even the best statisticians make poor statistical judgments when they're pulling answers out of their butts. If CEOs formalize an evaluation process, if they're intentional about...

ThinkTank Peer Advisory Group

Join New ThinkTank Peer Advisory Group

Why a Peer Advisory Group? It's lonely at the top.  Have you noticed? If you run a business where do you go to let down your guard? Where can you go to be vulnerable? Where can you share your deepest concerns? Who helps you be a better leader? Share them with you Partners? What if they are the issue? Share them with your spouse or spouse equivalent? Maybe...

Decision Making 8 Ball

Decision Making

Here's scary information about decision making. We make logical decisions illogically. In decision making we don't weight either side of an argument equally. There is some hidden force that puts its finger on the scale and tips it in one direction. Decision makers will run from risk, faster and harder than they will run towards gain. Proof? You don’t believe me? You think you're a logical decision maker? I say you're risk averse? According to Michael Lewis's new book, lung cancer patients confronted with the choice of radiation therapy or surgery with a 90% survival rate, the overwhelming choice is surgery.  Yet just by framing the question differently, when presented with surgery with a 10% mortality rate, patients overwhelming choose radiation therapy. You do understand that 90% survival is the same as 10% mortality...

Washington DC Peer Advisory Group

How To Find The Best Washington DC Peer Advisory Group

Washington DC Peer Advisory Group List How do you go about finding a great Washington DC Peer Advisory Group? Well there are several choices, all of them viable, but are they viable for you? What are your choices for a Washington DC Peer Advisory Group say you? Organization Facilitation 1 on 1 Coaching Monthly Cost Extras Netcito Assisted No $95 – $195 Education Self-Facilitated EO Self-Facilitated No $200 Social Club Speakers Vistage Professionally Mandatory $1,000 – $1,400 Speakers Facilitated Intranet TAB Professionally Yes $1,000 Intranet Facilitated Speakers ThinkTank Professionally Optional $500 Can of WhoopAss Facilitated *prices are best estimates NetCito - Is a DC area company. Founded in DC and tends to be focused on the tech community. The peer advisory group is self-facilitated. A viable low-cost choice. EO or Entrepreneurs Organization- Described by many as Clubby and a Social Club that centers on speakers, networking/social events and also offers the opportunity for members to join self-facilitated peer advisory groups. More focused on those who believe they "made it" than those that want to drive growth. Vistage - The grandpa of peer advisory group Vistage is over 50 years old. It is professionally facilitated by 1099 contractors called, chairs. Chairs go through a vigorous selection and training program and many wash out without ever starting a group. Vistage Groups can be as large as 18 members. Vistage expense is driven by speakers at meetings, overhead of the...

Planning Blueprint

Business Planning

Planning for life. Planning for Business It either happens or we can direct the happening. That's a plan. You know what a plan is right? Planning involves three key elements. A plan is a noun, a verb and a date. That's it. That's all there is to planning: Noun - as in "I" will  Verb - as in "retire" by Date - as in "December 1" I will retire by December 1. That's the what of a plan. Everything else is just tactical details. The how of the plan. Many people go through business and life without planning. When you don't have a plan...

Business Coach

How do I find a business coach?

Business Coach. How do I find a business coach or more importantly, how do  I find a good business coach or more importantly still how do I find the right good coach for me? All good questions and no simple answer. I'm a business coach. I'm a good business coach. In fact, I'm the best darn business coach who is the exact right business coach for you and what I just said is complete BS! Because: Fit - One person's business coach is like another person's floor.  Obtuse you say? Let me try and demystify what  I just said. In an apartment building, one man's ceiling is another man's floor (unless one of those men lives on the top or bottom floors which is a good illustration of my point as well). There are bad business coaches who are bad for everyone and yet the inverse is not true. There are no business coaches that are good for everyone. The right coach depends on the unique characteristics of each person. Fitting Room - I may be a great business coach (really there's no may about it...