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Author: bmsteam
Throw Away Your Business Plan

- April 17, 2018 -

I can hear the rumbling already starting.

“But I’m an MBA, and we were taught to have to have a business plan.”

Yep...I know that according to Price Waterhouse Coopers, two thirds of CEO’s of fast growth organizations develop some type of business plan.”

We even say on our website's blog sidebar that “Businesses don’t plan to fail…they just fail to plan.”

All true.

In fact, one of the first things we do when working with new clients is to develop a strategic business plan…just not a 5-year plan.

Ever.

And here’s why:

With small businesses...things don't generally go as planned.

It's just fact of [...]

No More Empty Tables

- April 16, 2018 -

With so much of my time spent driving to and from appointments, it's always interesting to see which restaurants consistently have crowded parking lots.

Even more interesting...finding out which ones never seem to have empty tables.

Which ones don't have empty bar stools.

Is it because their food is exceptional?

If that was the case...how does McDonald's continue to serve garbage yet make a profit year after year after year?

If you've never watched, listened to or read anything by Jon Taffer - he's an interesting guy.

An entrepreneur whose background is in the bar and night club industry, he's known for [...]

OCD Has Its Benefits

- April 13, 2018 -

It's 79 degrees and sunny in Pittsburgh.

Hallelujah, winter is going, going...almost gone! For those of us who are nuts enough to live anywhere but the west coast, it's been a freaking long winter.

Actually I really do like the change of seasons - but enough freezing slop is quite enough for one year 🙂

And when the spring hits, it's time for weekend car detailing.

I'm kinda OCD about my cars. Ok, maybe more than kinda OCD. Lol

Even during the winter, it's rare that they don't get washed and cleaned out at least every two weeks.

The rest of the [...]

He Sold His Dog For 50 Bucks

- April 12, 2018 -

His parents fought so much that they neglected him...so he spent many years in foster homes as a child.

The doctor severed a nerve in his face when he was born, leaving him partially paralyzed with slurred speech.

He struggled at school and was always in trouble. He was expelled from 14 different high schools.

In the early '70's he moved to New York City to follow his dream of becoming an actor - but could only get small bit parts.

He had to work at a zoo cleaning lions' cages and as an usher at a movie theater.

He was [...]

Generalize and Survive

- April 11, 2018 -

At the end of last Friday's email (if you didn't have a chance to read it, it's also posted here) I promised I was going to play the devil's advocate.

And since I'm feeling especially ornery, today's the day. Lol

Friday's topic was all about specializing and finding your niche.

Honing in on a niche audience, a niche service...being super specialized.

Think brain surgeon vs general practitioner.

In a perfect world, this is terrific...but let's get practical here, people.

You've got to put food on the table, and when transitioning to a more niche-focused business model, turning away business is a tough [...]

Tourniquet Marketing In Action

- April 10, 2018 -

Technology...love it, hate it.

Mid-morning yesterday, Cheryl texted me with "I think I'm having a stroke."

I've learned that when a woman tells you she's having a heart attack or a stroke, it's not a good thing to tell her she's NOT. lol

All kidding aside, I knew what the issue was...

For months, her computer has been running slow and tabs were needing to be closed when too many apps were being used at once.

So when I got the text, I called right away so as to avoid appearing as if I didn't care...another way we guys get in [...]

Specialize or Die

- April 6, 2018 -

Full disclosure...I am not a fan of popular reality tv.

But then I thought back to the shows like Candid Camera hosted by Allen Funt (and no, I'm not that old - I watched the reruns!)

And the Dating Game with Jim Lange and The Newlywed Game with Bob Eubanks...do any of you remember those?

...so I guess I'm a hypocrite 🙂

Anyway, think of the reality show hosts of the 21st century.

Jeff Probst and Survivor.

Ryan Seacrest and American Idol.

Tom Bergeron and Dancing With the Stars [gag] and America's Funniest Home Videos.

Chris Harrison and The Bachelor [shoot me now.]

They're all [...]

To Scale...Or Not

- April 5, 2018 -

When I ran my mortgage business, I had three shops in three different states.

It was a lot to manage, but I was young and hungry and had the right people in place to make scaling possible.

Fast forward 20 years...and we've started two new businesses in the last ten years.

I'm old(er),have less hair and am just as hungry...and scaling is a royal pain in the ass.

Think you'll never be in a position where you have to start over? Think again, my friend...

+ Booms and busts in the economy are no respecter of businesses.

We just talked to two [...]

The "Goldilocks" Pricing Model

- April 4, 2018 -

You know you're getting old when you and your buddies talk (often) about your physical ailments...

Shoot me if I ever start heading in that direction lol

In fact, I tend to avoid doctors and dentists for the most part. Not saying that's smart. Just sayin'.

Luckily I have good teeth 🙂

So when I went to the dentist recently and found out I had a couple of cavities and needed a crown, I thought "Sh*t. I don't have time for this."

...which my dentist mistook the vibes I must have been giving off as a money pain point.

He probably assumed [...]

What's Your IQ?

- April 3, 2018 -

I was not part of the "gifted" class in school.

You know, the really smart kids 🙂

I remember my older and younger sisters being tested to see if they were eligible to be part of the "gifted" class...so one day I went home and asked my parents why I wasn't tested.

They just looked at each other and didn't say much as I recall. Something along the lines of "It's alright, Arthur...you play the trumpet very well." lol

So that meant scholarships unfortunately weren't in my future unless they handed them out for street smarts.

And that's ok because as [...]

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