What It Takes To Become A 5 Star Business By Tom Shay

Slide 1: F I N A N C I A L M A N A G E M E N T S K I L L S T R A C K

Slide 2: www.profitsplus.org Tom Speaking Professional Certified Shay, CSP

Slide 4: www.profitsplus.org

Slide 5: Most people attending a seminar will see several ideas that they can utilize in their business. Unfortunately as they get back to their office, these ideas get set aside. If not acted upon within 72 hours after your return to your office, the idea will usually be lost. However, if you will write down 3 of the best ideas that you got from today, I will send you this post card in 2 weeks. If you place this post card on your desk, you will then renew the 72 hour activation time period. When I get back to my business, I want to: 1. ______________________________________________________ 2. ______________________________________________________ 3. ______________________________________________________ Can I be of further assistance to you? Please do not hesitate to contact me. Profits+Plus Seminars featuring Tom Shay Phone: (727) 464-2182 P.O. Box 1577 Fax: (727) 898-3179 St. Petersburg, Fl Internet: www.profitsplus.org 33731 www.profitsplus.org E-mail: TomShay@profitsplus.org

Slide 6: The magic of a Five Star Business • Hotel? • Automobile? • Restaurant? • What do you expect from a five star business? www.profitsplus.org

Slide 7: What would you expect of a five star business? • Quality • Service • Competition • Profitability • Price www.profitsplus.org

Slide 8: A 5 star business has an image • Does your business give a clear image to your customers? 1 www.profitsplus.org

Slide 9: The image of the business is clear to our customers • The identity of your business – bags, website, attire, shelving, displays, building, advertising. • When a customer writes a check, do they ask who to make the check payable to? 1 www.profitsplus.org

Slide 10: You might want to read: • Why We Buy by Paco Underhill • Stop Talking, Start Doing Retail Branding by John Torella • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 www.profitsplus.org

Slide 11: A 5 star business has a well defined marketing position • Do you know who your best customers are? 2 www.profitsplus.org

Slide 12: Our business has clearly identified the best customers • Are you selling 5/1 or 1/5? • Do you look outside the usual trade area? • Do you look for new services and products? 1 2 www.profitsplus.org

Slide 13: You might want to read: • Marketing Warfare by Al Ries & Jack Trout • Predatory Marketing by C. Britt Beemer • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 www.profitsplus.org

Slide 14: A 5 star business utilizes technology to the fullest • Your business is like a game – You want to do the necessary preparations so that the odds are in your favor 3 www.profitsplus.org

Slide 15: Technology is our friend • Point Of Sale • Department/fineline reports • Sales floor design • Merchandising • Staffing 1 2 3 www.profitsplus.org

Slide 16: You might want to read: • The Origin and Evolution of New Businesses by Amar V. Bhide • Internet Marketing for Less than $500 Year by Marcia Yudkin • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 www.profitsplus.org

Slide 17: A 5 star business has sound financial management plans & tools There is no business like show business, but there are a lot of businesses like accounting. - David Letterman 4 www.profitsplus.org

Slide 18: Financials are a tool we use • Budgets • Cashflow plan • “Open to buy” plan • Using advice wisely Accountant Banker Mentor Advisor • A long range plan 1 2 3 4 www.profitsplus.org

Slide 20: You might want to read: • Effective Succession Planning by William J. Rothwell • EZ Cashflow by Tom Shay • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 www.profitsplus.org

Slide 21: A 5 star business promotes with a purpose “I know half of my advertising doesn’t work… I just don’t know which half that is!” - John Wanamaker 5 www.profitsplus.org

Slide 22: Advertising is not promoting • Advertising is trying to get rid of what you’ve got. • Promoting is having what you can get rid of. • A budget, a plan, and a follow up 1 2 3 4 5 www.profitsplus.org

Slide 24: You might want to read: • To Catch A Mouse Make A Noise Like A Cheese by Lewis Kornfeld • Why People Buy Things They Don't Need by Pamela N. Danziger • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 www.profitsplus.org

Slide 25: The 5 star business is constantly being improved “Even if you are on the right track, you will get run over if you just stand there.” - Will Rogers 6 www.profitsplus.org

Slide 26: Work to improve the business • Attend trade shows and conferences • Attend seminars with right attitude • Active in community and trade associations • Staff uses and completes a “to do” list 1 2 3 4 5 6 www.profitsplus.org

Slide 27: You might want to read: • Getting Everything You Can Out Of All You’ve Got by Jay Abraham • The 7 Habits of Highly Effective People by Stephen R. Covey • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 6 www.profitsplus.org

Slide 28: The 5 star business recognizes that a customer is the most valuable asset Never forget a customer… …never let a customer forget you! 7 www.profitsplus.org

Slide 29: My staff is exceptional • Employees are unique • Others sell products, we transform customers • Our employees make decisions • Our employees remember our customers 1 2 3 4 5 6 7 www.profitsplus.org

Slide 30: You might want to read: • The Experience Economy by B. Joseph Pine II & James H. Gilmore • Raving Fans by Ken Blanchard and Sheldon Bowles • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 6 7 www.profitsplus.org

Slide 31: The 5 Star Business owner/manager recognizes they are crucial for the success of the business The credit belongs to those people who are actually in the arena - who know the great enthusiasms, the great devotions to a worthy cause - Who at best, know the triumph of high achievement; And who, at worst, fail while daring greatly… So that their place shall never be with those cold and timid souls who know neither victory or defeat. - Theodore Roosevelt 8 www.profitsplus.org

Slide 32: Self improvement • Is an optimist • Takes credit for successes and blame for failures • Has a “can do” attitude • Reads books • Stays focused • Executes plans 1 2 3 4 5 6 7 8 www.profitsplus.org

Slide 34: You might want to read: • The Process of Excelling by Roger E. Herman • The E Myth by Michael E. Gerber • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 6 7 8 www.profitsplus.org

Slide 35: The 5 Star Business owner/manager demonstrate how they are enjoying the business “Keep a smile on your face and all of the world will wonder what you are up to!” - Snoopy 9 www.profitsplus.org

Slide 36: Having a personality that fits • Communication with staff • Appreciate and enjoy our customers • Appreciate and enjoy our staff • Yet, not responsible for everyone 1 2 3 4 5 6 7 8 9 www.profitsplus.org

Slide 37: You might want to read: • The Fred Factor by Mark Sanborn • Fish! by Stephen Lundin, Harry Paul, and John Christensen • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 6 7 8 9 www.profitsplus.org

Slide 38: The 5 Star Business Owner/Manager knows how to go the distance Nothing in the world can take the place of persistence. Talent will not; Nothing is more common than unsuccessful men with talent. Genius will not; Unrewarded genius is almost a proverb. Education will not; The world is full of educated derelicts. Persistence and determination alone are omnipotent. - Calvin Coolidge 10 www.profitsplus.org

Slide 39: Pace yourself • Does not settle for a one time achievement • Does not revel in “the good old days” • Does not try to get all of the work done in one day 1 2 3 4 5 6 7 8 9 10 www.profitsplus.org

Slide 40: You might want to read: • Who Moved my Cheese? by Spencer Johnson, M.D. • Awaken the Giant Within by Anthony Robbins • How many stars does your business rate? • What do you need to do? And what are your deadlines? 1 2 3 4 5 6 7 8 9 10 www.profitsplus.org

Slide 41: The five star business • Business improvement • Marketing • Technology • Finances • Self improvement • Branding • Personality • Staff • Advertising/promoting • Pacing www.profitsplus.org

Slide 42: Setting the priorities for the 5 Star Business • Priority #1 • Priority #2 • Priority #3 • Is it in the future for you? • The profit is in the stars for you! www.profitsplus.org

Slide 44: Shay’s Way Fixing Flat Tires by Tom Shay Is your business equipped for the You will mark the spokes at the ride ahead? Using a piece of paper, appropriate level on the 1-to-10 draw a rectangle with a small dot at scale. From the five marks you will each of the four corners. Then draw now be able to create a circle (the five spokes, each beginning at the tire). If you were to achieve a 10 in center of the dot, equally spaced. all five categories, the tire would be What we have created is an round and as large as possible. But if imaginary car with wheels but not there were one or more areas that having drawn the tire around the earned less, there will be a flat tire. If spokes. you scored a six on each of the five spokes, you would have a much smaller tire. Either way, your “car” To this imaginary car—which will not run as smoothly or as fast. represents your business as a whole —assign each wheel these business divisions: For each tire, rate the five items. Your salespeople and their abilities Tire #1: Salespeople Your management skills Ability to create and Your customer service respond to goals Your finances Ability to communicate with other employees Product knowledge Allow me to explain how you will Dependability assess each tire using the spokes. Each division (tire) is divided into five Ability to accept and work sections (spokes), and you will rate with change each of those divisions on a scale of 1 to 10. The end of the spoke near the hub represents 1, a poor rating. Tire #2: Your managing skills And the outer end of the spoke Turnover of employees represents a 10, an excellent rating. We will name each of the spokes and Training of employees grade them accordingly. The appearance of the displays within your business Employee participation in management Your product mix www.profitsplus.org

Slide 45: Tom Shay’s Profits+Plus Tools are unconditionally guaranteed to improve your business! Take advantage of the “today only” order form attached to your presentation notes and save www.profitsplus.org

Slide 46: Most people attending a seminar will see several ideas that they can utilize in their business. Unfortunately as they get back to their office, these ideas get set aside. If not acted upon within 72 hours after your return to your office, the idea will usually be lost. However, if you will write down 3 of the best ideas that you got from today, I will send you this post card in 2 weeks. If you place this post card on your desk, you will then renew the 72 hour activation time period. When I get back to my business, I want to: 1. ______________________________________________________ 2. ______________________________________________________ 3. ______________________________________________________ Can I be of further assistance to you? Please do not hesitate to contact me. Profits+Plus Seminars featuring Tom Shay Phone: (727) 464-2182 P.O. Box 1577 Fax: (727) 898-3179 St. Petersburg, Fl Internet: www.profitsplus.org 33731 www.profitsplus.org E-mail: TomShay@profitsplus.org

Slide 47: Nothing in the world can take the place of persistence. Talent will not; Nothing is more common than unsuccessful men with talent. Genius will not; Unrewarded genius is almost a proverb. Education will not; The world is full of educated derelicts. Persistence and determination alone are omnipotent. - Calvin Coolidge www.profitsplus.org

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