Badass Business Owners: Tips for Small Businesses Serving their Communities

Episode 8 – The Local Small Business Coach Podcast

Today We Discuss: Customer Service is Your Business's Secret Sauce

You all know customer service is important. But do you BELIEVE in your heart that it is important? You have to mean it.

In today's episode we discuss how customer service has been drilled in my head and why it needs to be drilled in yours as well as your teams.

We discuss our favorite customer service locations and why we love them!

We also discuss 6 Quick tips to Great Customer Service and how your customer service will separate you from your competitors!

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For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the Speak Pipe Button or just email me at [email protected]

Episode Show Notes: Episode 8 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 7 – Question Episode – How Can I go from $35k to $100k Profit in my Local Small Business?

Welcome back to the Local Small Business Coach Podcast, I am your coach Tammy Adams.

And today, I thought we would go ahead and start our Friday Questions. Eventually I'm hoping we get some great questions and have 1-2 days a week of questions.

I'm a firm believer that we can all learn from others so I'm excited for us to share each of our challenges so we can learn together.

So let's dive into our first question. I grabbed this one since it ties into the theme we have been having on getting your business up to a $100,000 profitable.

This message is from Cliff… Cliff writes…

Hello,

I listened to your 2 episodes on making $100,000 in my business. Last year I only made $35,000 and I worked my tail off just to get to that. How on earth can I realistically get to $100,000? Thanks in advance for any insight on how I can get started.

Cliff

Hey Cliff,

I can totally understand that this might seem like a huge hurdle and currently you just can't see how you are going to make this happen.

Now, you don't mention what type of business you have so I'm going to be a little more generic but you should be able to adapt this to your business.

But first, let's address the elephant in the room. Can ALL local small businesses get to $100,000 profit? I'm not going to pretend that each and every business can. For example, a dog walking business is going to have a tough time as that is a lot of dogs at a low price.

However, with that said, while 90% can't there are probably 10% that can. They will need to scale it using other people. Creating a team of dog walkers and hiring independent contractors to do the work.

Also a dog walker in a city location is going to do much better than a dog walker in the country.

Another great example is, an AC repair tech in Arizona is going to make some serious cash compared to an AC guy in Alaska.

So the key take a way is you must have the right business in the right area. You must set yourself up for a business that has the best potential to grow.

But honestly, the vast majority of local businesses can have a shot at this milestone, you just have to realize you might be building a team vs individual type of business.

So if you have one of these types of businesses, then just think creatively.

Ok, let's get back to Cliff, and let's assume he has a scalable business.

First, please know it is possible. The key to accomplishing this goal is to realize it just can't be "business as usual". If you are like most small business owners, your time is already maxed out and the thought of doubling or tripling your business is not feasible "doing what you are already doing".

The best way to attack this goal is to break it down. Just like we did in episodes 3 & 4. Now, I'm not going to rehash those episodes but if anyone hasn't listened to them yet, just check them out afterwards as I go into more detail.

Cliff,

If you and I were to sit down and go over your business, the first thing we would do is look at your sales, your profit and your expenses. Right away we would be able to identify a potential issue if you didn't have clean books to even have this dialog. There is no way to make that leap if you don't know your current situation.

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For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 7 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 6 – Standing Out from Your Competition in Your Local Small Business

Welcome back to the Local Small Business Coach Podcast, I am your coach Tammy Adams.

This is episode 6 and today we are going to discuss how to stand out from your competitors.

But before we dive in, I want to take a moment to discuss something that I saw on the Profit last night that really stood out based off our last couple of episodes.

If you aren't watching the Profit, you need to. This is probably one of the best TV shows every local small business owner needs to watch. Marcus Lemonis, the amazing businessman behind the show, invests in local business to help not only turn them around, but to develop a brand that he can take national.

His main mantra is something I've always been preaching, just using different words and that is People, Process and Product. He gives mini business lessons to the audience and as a small business owner, you can learn so much.

The main reason I bring this up is, in last night's episode Marcus asked the small business owner, who had 5 soup shops by the way, what his gross margin was. This owner looked right at him and had no idea.

This really stood out to me since we just got through talking about this last week how you need to know your gross margin. Here is Marcus and one of his key questions was this very thing and then he goes on to share how if this man gets his gross margins up he would add over a million in sales and $300,000 in profit from this one thing.

It really drove home how important this is.

So if you aren't watching, please go back and watch all the episodes. Maybe we will dive in more in a future episode.

But let's dive into today's topic – Standing out from your competitors.

I picked this topic to follow our last episode's discussion on our Ego getting in the way on purpose. Our Ego really goes crazy when it comes to our competitors. Often times we beat our chest that we are so much better than they are, that we miss what they are doing well.

I actually have a great learning lesson I had on this back in my Depot days. Since I had been with them from the 64th store, we were a very fired up group. We were growing so fast and kicking butt and our ego was huge. We dominated our competition and the love affair American had with us was pretty amazing.

As we expanded into the Western states, which is what I was a part of, we just took over a state at a time. We had no problem being obnoxious and cocky. Then a strange thing happened, we went into Washington up against a pretty popular big box retailer similar to us. No matter what we did, these guys kept getting strong and going head to head with us.

It kind of through us for a loop since we felt we were so much better than they were. But the customer was telling us something different.

Long story short, when we finally stopped beating our own chests and started to listen to the customer and how they were voting with their dollar we learned a valuable lesson. It led to use making a huge change that impacted a large chunk of our business.

Those of you that shopped us 15 years ago saw us transition from a huge contractor focus to one that was both a contractor business and a home décor business.

This was huge for us and a great move.

It all came from us just listening to what the customers were telling us we needed to do to grow our business and meet the needs they were looking for.

I tell you this story as it is just as important to each local small business owner as it was to this big box retailer.

For each of you, there are others in your community that are also doing either a similar business as you are or they are offering maybe 1 or 2 similar services. Your goal is to find out what they are doing right and what they are doing wrong. What are the opportunities that you can be taking advantage of?

How can you stand out from your competitors?

For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 6 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 5 Is Your Ego Getting in the Way of Your Small Business's Success?

Today we are going to talk about our Ego and how it can get in the way of our Business's success.

I'm sure some of you cringed when I said it that way. I know I would have. My thought would have been some thing like, I don't ever let my ego get in the way, you don't know what you are talking about.

The problem is, when I check my ego at the door, it absolutely has cost me money in all of my businesses.

Let's face it, many of us are good at what we do, and when we are good at what we do we tend to take a lot of crap from folks that we think we know a lot. I know I do. However, I always respond that it isn't that I think I know it all, I just happen to know a lot.

This thinking however, causes us to be over confident at times and therefore we don't see things we should.

It might seem wrong to think that your Ego is causing your business to fail. Now, it might not be causing it to fail, but it might be causing your business not to grow or to be losing sales or profits.

Let's talk about 5 ways in which our Ego can get in the way of our business's success

For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 5 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 4 - Part 2 - Can Local Small Business Owners Make $100,000 in Profit? These are the 8 Steps they Need to Take

CLICK to WATCH THE VIDEO

Welcome back to the Local Small Business Coach Podcast, I am your coach Tammy Adams.

So in episode 4, we are going jump into Part 2 of Can Local Small Business Owners Make $100,000 in Profit?

In episode 3 we spent some time breaking down how to figure out how much you need to sell to hit your $100,000 profit. I know it was a number's filled episode but hopefully you got a lot of insight into profit margins and how it impacts your business.

If you missed the episode, head on over to episode 3 to learn how to figure out the sales needed in your business to hit your $100,000 goal.

So, after our last episode you should have an idea of what you need to do in sales to hit your $100,000 profit target. Now, getting to this target, is going to be the accumulation of a lot of little things you will do. But let's concentrate on 8 Steps that should get you there.

Step 1 – You must set aside 2-3 hours a week to start working ON your business and not just IN your business.

You might recall we discussed this in more detail in episode 2. The reason I had this in an earlier episode is because it is going to be a crucial step into setting aside the time you need to work on your marketing, your systems and other critical areas of your business.

As long as 99% of your time is spent on the "doing" you will never grow beyond your current capacity. So this step is a very important part of your game plan.

So when is the best time to schedule this? Ideally, you would spend your first hour of each day working on your business. However, some of you must get an early start so then set aside time at the end of the day. Worse case, set aside your first few hours on Monday or time on Sunday afternoon.

Remember, you need to make this time a habit. The best way to make it a habit is to pick the same time each day or week. Whatever you pick, make sure you fully commit and block your calendar during this time. Make it a sacred part of your week.

Step 2 – You need to Identify the gap between what you are currently doing today in sales and what you are needing to do to hit your target. So for example, let's say you are bringing home $5,000 a month or $60,000 a year profit. So we know you need to grow your business by $40,000 in profit.

We also know that your existing sales are around $125,000 and that covers both your expenses and the $60,000 in profit.

In yesterday's exercise you realized you need to take your business from $125,000 in sales to $230,000 to hit your new $100,000 goal plus expenses.

So you need $105,000 more in sales annually or $8.700 a month.

Ok, I know I promised you no more math but since some of you didn't figure this out earlier, we need to make sure you do it. LOL

For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 4 - Local Small Business Coach Podcast

Episode 4 - 8 Step Workbook FREEBIE

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

YES!! Local Small Business Owners Can Make $100,000 in Profit!

Here is a peek at the Show Notes from the Episode:

Welcome to Episode #3 of the Local Small Business Coach Podcast. Today we are going to discuss…

Can Local Small Business Owners really make $100,000?

First let's acknowledge that some of you have already hit this milestone. Fantastic and I'm so proud of you and your business. Plus, some of you have hit this number but it might be due to being in higher end markets. And since you can charge more, your take home might be more. But since your cost of living is so high, you might find your number might actually be $150,000 vs the $100,000.

Either way, this episode will help you as well. It will be for anyone that wants to increase their profits.

The vast majority of you however, are probably landing somewhere between what the statistics show which happens to be $35,000 and $75,000.

I'm going to split this topic of Developing a $100,000 profit business into two episodes. In our next episode we will dive into the 8 Step game plan to making it happen, but first we need to identify what your target sales/revenue needs to be to obtain your $100,000 profit.

For the full show notes click the link below!

HELPFUL LINKS

Link to the Video

Link to the Spreadsheet

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 3 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 2 LSBC - Working On Your Business & Not Just In Your Business

Hey everyone, hope your day is going well. Thanks for sharing part of it with me.

For today's episode we are going to discuss one of the top reason's that local small businesses hit a plateau

Far too many local business owners are spending 99% of their time working in their business vs on their business.

Michael Gerber wrote a book called the e-Myth. The current edition is actually called The e-myth Revisited. I'll have a link in the show notes as well. GET EMYTH REVISITED BOOK

Long story short, he discusses how small business owners have several hats they wear. The first is the Technician who spends their time on the doing, the entrepreneur who spends their time on the big picture and where the company is going and the manager who is managing the tasks of the job.

Ideally, you are working seamlessly between them. The challenge is, far too many of you are running from job to job and doing, doing, doing. And if all you are doing is doing the job, when do you spend the time on developing the future and putting the systems in place to grow your business?

Think of the difference you would have in your business if you spent quality time hiring the right folks? Or working on your marketing plan? What would happen to your business if you looked at things you do over and over and you put the process in place make it more automated? What if you took the time to document and track not only all your sales but created a breakdown of costs per item or service?

How much better would you react to seasonal swings if you knew what the trend was? Which products or services took off during the critical times. I'm not talking wild ass guesses either, I'm talking using actual numbers that you have tracked.

I know what you are thinking, "I hear what you are saying Tammy, but I just don't have the time".

I would tell you that you are absolutely right! You don't. But here is the catch 22. You don't have the time because you are working all day in your business due to having poor processes, repeating the same thing over and over, having to chase your customers and your employees.

Your success is actually preventing you from even more success.

For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at[email protected]

Episode Show Notes: Episode 2 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

Episode 1 LSBC - Being Open to Change in Your Business

Welcome back to our Official Episode #1 of the Local Small Business Coach Podcast. Hopefully you had a chance to listen to episode 0 in which I shared a little about myself and my journey to this point. During the course of the podcast I'm sure I'll share even more.

Originally I was going to discuss a different topic but after recording and then editing Episode 0, I realized that I really needed to start with the topic of change.

Here is some of what you will hear:

The best business leaders are ones that have realized they need to embrace change. They realize that they needed to study success and do what successful people do.

I want to challenge each of you as spend time together to keep an open mind and to try the various best practices you will hear. Remember, they aren't just my best practices, they are best practices from many local small business owners.

• I will challenge you to dive into your business more
• I will challenge you to change the way you currently spend your time
• I will challenge you to look at your competitors in a positive way and not just how you kick their butt
• I will challenge you on how you hire and onboard your people
• Over time I hope to challenge you on all aspects of your business

But here is the cool thing, here is what you can expect in return…

• You will take your business to a higher net income level
  • At minimum, I believe every local small business owner should make $100,000 dollars in profit - Yes, profit, and not just sales
• You will find yourself not living job to job. Instead you will be building a future for not only your business but more importantly for your family
• You will make a huge difference in your local community
• You will have the best teams or crews and be the envy of others
• You will get over those hurdles that have been holding you and your business back.

For the full show notes click the link below!

HELPFUL LINKS

Podcast Website: LocalSmallBusinessCoach.com

Leave your Message on the website with the SpeakPipe Button or just email me at [email protected]

Episode Show Notes: Episode 1 - Local Small Business Coach Podcast

Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com

Starting a Local Small Business Website: StartALocalSmallBusiness.com

The Badass Business Owner Podcast is officially Born (But back then, it was called the Local Small Business Coach Podcast)

Hi and welcome to The Badass Business Owner (formally the Local Small Business Coach Podcast) I am excited by this journey we are about to go on and I can't wait to spend time with you!

I want all local small business owners to have so much success.

I want them to beat the 10% survival odds that statistics tell us.

I want you to increase your profits, boost your sales, improve your processes and develop strong teams.

I want to be part of your journey!

If you are a local small business owner looking to increase your take-home pay to at least $100,000, then this podcast is for you! Listen either on your favorite podcast app or right here on YouTube! And don't forget to check out the website: LocalSmallBusinessCoach.com

This is a show about you and for you so please make sure you submit your questions on the website. I'd love to answer them on the air.

Let's do this together!

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Get the Free eBook: 8 Steps to Earning $100,000 in Income in Your Small Business

The Badass Business Owner Podcast is for Small Business Owners who are tired of living job to job but want to grow their business income & their personal income. In each episode, we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams.

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WEBSITE: BABOLearning.com

YOUTUBE CHANNEL: BABO Learning for Badass Business Owners

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RECOMMENDED VIDEOS

• 6 Stages of a Small Business
• How to Read a Profit & Loss Statement
• Knowing Your Business Numbers

FREE GUIDES / TOOLS

• FREE eGUIDE: 8 Steps to Earning $100,000 in Income in Your Small Business
• FREE eGUIDE: How to Read a Profit & Loss Statement
• FREE Start Up Guide for Starting a Business

COURSES

*** Understanding Your Business Numbers

*** Start a Local Small Business

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Local Small Business Owners are the Backbone of All of Our Communities!

WHO THIS CHANNEL IS FOR: small business owners who serve their local community, local small business owners, service based business owners, mobile businesses, brick and mortar businesses, handymen, landscapers, pool cleaners, cleaning services, carpet cleaners, window cleaners, ice cream shops, QSRs, restaurant owners, mechanics, plumbers, electricians, real estate agents, dog groomers, franchisees, tradesmen, medical, dentist, insurance, pet business owners, & those looking to increase profits, boost sales, improve processes and develop stronger teams. Entrepreneurs who want to make more money. Those who want to know their business numbers better!

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