Get Rich Steady

I would like you to meet my good friend Mike Collier. He is committed to helping people move past limiting beliefs to achieve extraordinary success. Mike’s  work  has an incredible track record of helping people exceed success goals by persistently taking focused action.

As a subscriber to his free newsletter, I received valuable information that was helping me with my coaching clients. I connected with Mike to share my appreciation. Our friendship has since grown rapidly. We now regularly share ideas on how we can better assist entrepreneurs and business owner grow revenue and profits.

You Are Invited

This is your invitation to experience the wisdom of Mike Collier expressed  in his newsletter that is free to subscribers.  I highly recommend connecting with Mike  begin to  “Get Rich Steady”!

Click Here Now For Your FREE Subscription

There is a small group of very talents  leaders whose mission is your success.  Mike is one of those select professionals. I am confident you will benefit from Mike’s Get Rich Steady Newsletter.

Steve Pohlit

Business Development Consulting
Executive Coach

727-587-7871

Email

Social Media Synchronicity or A Blueprint For Building Profits With Social Media and Internet Marketing

There are many moving parts in the social media world and they are expanding exponentially as entrepreneurs and business giants develop tools capitalizing on the rapidly increasing numbers of people using social media resources to communicate and promote.

In 2009 I launched my first successful venture built entirely using social media resources. This means that I developed connections on key sites including Facebook, YouTube and Twitter. I built awareness of my business by delivering valuable free content with the promise of more in-depth information for those who joined my membership site. If you want to see how that works, register for my free course at Manifest Mastermind.

I did almost all the social media building myself with the help of some automated tools for growing Twitter followers. In doing that I realized how much work was involved in building a social media network the right way and concluded most people would not do it. I began and still advise business owners and managers to outsource this work as a lot of it was actually rather tedious. I realized the business opportunity and established the company New Digitial Media, Inc. The sole purpose is to develop a social media and internet marketing development funnel for you.

I now have nearly three years experience using social media sites and tools for the purpose of building an marketing funnel that results in attracting targeted clients and customers. This article presents the foundation tools I started using in 2008 which are as relevant today as ever. This article also contains my latest thinking on the tools that everyone should consider for a well founded on line marketing funnel using social media and internet marketing tools.

Synchronicity

I chose that word because I learned from Robert Ringer that optimal success long term occurs most frequently when all components are working well together. I have included Internet Marketing in the title and reference it here because at the core of Internet Marketing are websites and email autoresponders. These continue to be integral components to the on line marketing silo of a larger building profits program.  I teach the building profits foundation course to audiences across North America and use  the in-depth modules with my consulting and coaching clients.

The Blueprint

This is a brief  outline of The Online Marketing Blueprint. To include explanations at this point would result in a book. In fact I am writing The Book On Business Profits which will include details of the components of this Blueprint and a lot more. Register now at the quickly created by me without any graphics web page and you will receive bonus announcements plus text and audio samples of the book when it is released by the end of January.

The Blueprint Outline (non – diagram format):

Foundation Tools

Domain name that matches your business name (or at least close) Dot Com only
Website for branding
Wordpress based blog (not on WordPress.com) for building credibility and your list
Autoresponder Account

Foundation Social Media Tools

Facebook personal profile
Facebook business fan page (flow your articles and other relevant updates here)
Facebook group (only if you plan on being an active group leader)
Two Twitter accounts…one personal and one business. Use both for business
A LinkedIn account with a personal profile emphasizing your business
A YouTube account

The newest brand building tool you will soon here a lot more about is optional of course however, you should get started now with this. http://VideoTVTalk.com With this tool you can send branded email video messages, have branded webinars and on line meetings, your own branded TV site that can be pay per view if you want.  I am really excited about this and I am working on my branded email backgrounds and branded page for my videos now.  In the meantime Click Here to visit the site and check:  out the features and benefits.  One major benefit is that with your branded site and videos there is no advertisement or competitor diversions like we have with YouTube.   See my first example of a private label site. Note you will be able to tell I have not used a professional designer. This is my first presentation of a branded video website. It took be a several hours of playing around to get this done on top of the time for the video. What is really cool is that this will all continue to get better.  Click Here to check it out.

Note: Use Video TV Talk continue to use YouTube more about that in future articles and videos.

Local Search and Marketing

For most people, thinking in national or global terms for on line marketing is common. Local marketing seems to be confusing for many but it there are really few differences.  All the foundation tools and accounts are valuable for most local businesses.  The issue seems to be one of understanding. Local business owners often do not have the time to stay current with marketing opportunities and if they do then they do not have the time.

There is a huge opportunity for people to help local business with marketing. The problem with that is there are very few people who really understand market in relation to the number of businesses that need the help. So you have people promoting products and services to business owners who are not skilled and experienced.

I am beginning to recruit people who want to work with me and where I will show them the step by step process of how to introduce business profits building marketing to businesses and then coordinate the implementation with my company’s staff at New Digital Media, Inc. If you have an interest my contact information is below.

Return on Investment (ROI)

I only offer clients what they need to get started and make incremental profit.  Companies need to see an ROI before being asked to invest larger amounts.  With any business, including locally owned and operated businesses, a domain name and at least a basic website with contact information is essential. That way they can register as a company and come up on local search with engines like Google.  Once that is in place then I want to address ways to build traffic to the site, build a list and build business.

Call To Action

All companies want their on line visitors to do just one of the following:

Physical visit if the business is retail or retail services

Buy on line if the company has an ecommerce business

Call

Subscribe to the list

Social media marketing, internet marketing must lead to a call to action.  Now call me or email me and let’s discuss how we can work together.  All contact information follows.

Thank you,

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Build Business Profits Success Stories: 1

Build Business Profits Success Stories are actual experiences of clients as a direct result of following the action steps developed as part of the coaching process. These are verifiable case studies and while the popular marketing technique is to publish testimonials, I consistently protect the confidentiality of all clients.

10 Times Increase in Net Income In One Year

When I asked the question as to the income this client expects to bank this year the answer was $300,000.  That is a very good number for an individual working from his basement office with one employee.  I already knew this was his first year working full time on this business and that he had been working part time on this business in the previous year.  He had no experience in this particular business (real estate investing) prior to two years ago.

I have been coaching him by phone for about 2 months and then we scheduled a day and half session on site at his office location.  During dinner the first day, I asked him to be prepared to finalize a game plan the next day for building his gross income next year to $6 million.  Now going from $300,000 to $6 million and actually a net closer to $3.5 million is quite a leap and I normally would not implement that aggressive of a plan with most clients.

This client was different. I already experienced his “action attitude”  he was in motion everyday on networking and deals that converted into a growing list of funding partners (people with money to put to work) and people sending him profitable deal opportunities.  He was successfully implementing the coaching guidance on focused networking.  He was and still is missing a management system for taking his business to the level I could see that was possible.

The number one issue anytime I work with client  on a model for increased revenue and profits is mindset.  If they don’t believe it there is nothing anyone can do or say that will turn the idea into reality.  In this case, there was not instant acceptance of my $6million plan.  However, he asked me how I arrived at that number and I told him.  He nodded his head and said alright “let’s do it”.

The exact strategy was developed the next day and included defining the niche markets he would pursue as well as the overall profit to be generated by each niche. That work resulted in him being able to see the results happening. It  became believable for him.

Will he achieve performance targets of this plan?  No….he will beat them.  Just two days later he text me at 6AM in the morning with “we need to talk”.  Close to 7 we were review an opportunity for  deal that has he potential for a for $500,000 profit before the end of this year.  In addition I looked at another deal with him yesterday and that one has a $500,000 potential by the end of this year if he flips it or an excellent rate of return if he keeps it.  I could go on but my point is this client has transformed himself into a deal and money magnet.  Does he have any special skills?  He is an effective communicator and he follows the direction of his coach.


Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The Link Between Dan Kennedy’s Clarity and Steve Pohlit’s Accelerated Accountability System

In Dan Kennedy’s most recent book “No B.S. Wealth Attraction In The New Economy”  Dan writes about Clarity. The first sentence of this chapter is “It’s instructive to ask business owners how much money they expect to receive today, tomorrow, next week.”  Dan delivers a no holds barred punch that most people go through life with no clear picture and plan of what they intend to accomplish and learn.

After reading Dan’s book including the section on Clarity, I realized just how well my Accelerated Accountability System supports the discipline of defining and tracking your progress in the area of business development. This particular system is one I fined tuned from my work as a consultant with a major firm, CFO of several large companies, entrepreneur and coaching well over 100 business owners.  I have taught this system to live audiences across the US and Canada.

Success Stories

This system is the one I use with all my coaching clients and is the tool that accounts for numerous success stories within in just months of beginning coaching. There are quite a few people who are making hundreds of thousands of dollars this year following years of making little or nothing.  Are they uniquely skilled? No they have a business with products or services that people want and they are following their coaching direction that includes daily use of the Accelerated Accountability System.

Surprise

Now you may be thinking there is a price attached to this system.  You may already be thinking that you would like to see how this works but money is tight right now so you probably won’t be able to afford it.  The following articles are free and the sample schedules on how to use this system are also free.  What is not free is your time that you will spend on doing this work.  However, you should receive a huge return on your time investment.

Articles: The Accelerated Accountability System Is All Three Steps

Step 1: Prepare An Executive Summary

Step 2. Build A Financial and Transaction Plan

Step 3: Fast Start To Success

Email Me: With Sample Schedules in The Subject Line. You must include your complete contact information. Full name, mailing address, description of your business and phone number.

Reality

The reality is most people will not do this work or if they do start it they will not continue. The exception is people who work with a coach. If you consider this a pitch for hiring me, you are right. I am accepting six new clients next for coaching that begins next week.  There are no long term contracts.  Coaching entrepreneurs and small business owners can usually be successfully done by phone.  For more information Email Me now and tell me about your business. Be sure to add Business Coaching in the subject line.  Include your complete contact information and I will schedule a 20 minute complimentary call to determine how we can work together for the benefit of your business. I only accept clients who I am confident I can help.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The Secret To Beating Business Profit Plans

“Steve, I am so grateful for how you have helped me understand my business and how to achieve profitable growth. “

…This comment is direct from one of my clients whose 2010 profits are on track to exceed plan by at least 50%. Exceeding plan by 50% is worth nearly $350,000. This is one very happy client and there are many more.

What is the one component that every successful client says is the reason they are achieving business profit goals?

The answer is consistently taking action on those areas of their business that make the most difference in growing business revenue and profits.

How do successful business owners and managers consistently guide their companies to outstanding profit performance?

Most have a business coach/mentor who guides them on remaining focused and holds them accountable for taking the right action.

When I look at the difference in business performance among the clients I coach it always comes down to taking directed action or not.

What does directed action mean?

Directed action is a sequential path of steps that achieves business revenue and profit goals.  It is common for business owners to actually be experienced in what to do but are not consistently implementing.  In other cases, they are taught what to do and always held accountable for taking action.

As a business consultant and executive coach with very valuable experience running companies owned by others as well as my own companies (click here for my resume) I know what works and even more importantly I know the mistakes most  make.

What is the number one mistake made by business owners and managers?

That mistake is thinking they are the only one who can do what needs to be done.  I am always working on the mindset with the people I coach of leveraging tasks that must be done and training them on effective leveraging of those tasks.  I address the mindset of the person running the company. In the case of businesses working with employees or contractors, we are consistently looking at ways to have everyone become more valuable by leveraging tasks to less costly people or technology.  Systems, meaning the way people work and the tools they use are the key to effective leveraging.

A Program That Fits Most Budgets

If you want to be successful with any business, work with an experienced business consultant/coach who will guide you to building business profits faster than you ever imagined.  I am an expert business consultant/coach. I have a program that will fit most budgets. Email me now and tell me about your business. Include your complete contact information and I will schedule a 20 minute complimentary call to determine how we can work together for the benefit of your business.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Top 7 Steps For Strengthening Sales and Profits In The Restaurant Industry….Actually Applies To Most Businesses:

Top 7 Steps For Strengthen Sales and Profit In The Restaurant Industry….Actually Applies To Most Businesses:

1. Know your customer!  People coming thought the door and buying should be acknowledged with an email or card and possibly more. How do you do this?  You need to have their contact information and specifically an email address and now ideally their cell phone number.

Here is an idea on how you do that: Buy them a drink or a dessert in exchange for their information.  Here is the key: when you identify a particularly important person, the owner comes to the table, welcomes them and offers to buy their dinner in exchange for the cell phone number so they can be alerted for a very special event. Now before you say this ticket could be $200 or more I ask you how worth it is to have the cell phone number for key text messages with VIP’s and I mean people whose net worth is in 8 figures. This is huge

2. Have a plan. Your financial plan should be an annual target that can then be detailed to a weekly plan.

3. Know your numbers. Traffic and sales by time of day. Track your trends. Use this information to market to your list. Invite them to slower times using incentives.

4. Use all proven marketing tools to help grow your business. These include direct mail to targeted zip codes and ads with a “hook” in publications your target customer reads and other venues like radio, participation at key charitable events, local/regional festivals that are for your target audience, on line promotions and more.

5. Have your on line credibility in place meaning a website and social media presence

6. Use a referral marketing system. Reward people for inviting their friends and colleagues.

7. Monitor the variances from plan in all areas of your business. Nothing is excluded: payroll, food costs, utilities….the gold is in the detailed analysis of the variances.

Now You Know…Success Is In The Details.  Failure is almost always a result of not consistently following the steps that have been proven to lead to success.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Fast Start To Success With The Accelerated Accountability System

As a business consultant and coach I continue to work with people every week teaching and helping them implement the skills and action steps I know work.  My experiences being employed in very successful organizations, consulting with companies across numerous industries as well as running my own businesses have shown me certain fundamentals are pervasive in companies that are successful regardless of size.

The number one attribute that I find in everyone who achieves continually expanding goals is a disciplined focus of their attention on purposeful action. This means that with any goal there are certain steps that are needed if that goal is to be achieved.  For example in the real estate investment business where the model is to buy property, add value and resale the property, there needs to be a supply of the right deals, a supply of money for the initial purchase plus renovation and then money from an end use buyer.  Intellectually you can understand this formula but to turn the formula into profit there must be action. If you short cut the steps including the analysis there may not be any transactions or if there are, the profit you projected can be elusive.

Name a goal and the steps to achieve that goal can be mapped and once followed the goal will be achieved. This doesn’t mean the exact course is predictable. Taking action on anything is no different that what we experience in say traveling across town or the country. The route is mapped but the experiences can be surprising. When we encounter a delay or cancellation, we move around or through it. Business is no different.  Enjoy the process or get out of the game.

So what does all of this have to do with Fast Start To Success With The Accelerated Accountability Program?  I will use a recent example with a lady who I coached in front of  a live audience at a JT Foxx 360 Millionaire event. Her mission was to become a successful real estate investor and she had done  a great job of clearly defining her income goals and time line for earning that income. I challenged her on the amount and time line as they seemed somewhat aggressive considering her experience. However, she supported the amount and timing very well so they remained in tact.

Next I asked her how much time she had to devote to her business and she replied at least 50 hours. Given that I then asked her if she was committed to following the action steps necessary for her to take to achieve a successful transaction in 90 days or less. She said she was. With that response we were now able to move to the next phase which was to detail the steps she needed to take on a daily basis to achieve her goal.

These steps need to be planned by day so it is important to use an Excel spreadsheet or its equivalent for tracking your time.  For example, one of the steps is to contact people who may be a source of real estate deal transactions. That amount of time planned for that step will be more in the early part of the 90 day time line as deal flow is key to beginning the process of finding a transaction that will meet your profit goal.

The idea is to have this activity and time plan at the beginning of each week and to track your actual time spent and results of your actions. The accountability part is that this schedule is shared with your coach and if you are not using a coach, it can be shared with a business partner, spouse or a friend. Knowing someone else will be reviewing this information is a powerful motivator to keep your commitments.  This is intended to be a valuable tool and not a restraint on your life. The idea is to track chunks of time and evaluate the results.  So if you are making calls and having meetings what are the results? You are either making progress or not. If not, how you are implementing your action plan needs to be modified.

I consistently teach The Gold Formula.  The gold is in the variance and this applies to anything you intend to accomplish.  There cannot be a variance calculation without a plan. Once you have a plan you can compare that to what actually happened and most of the time there will be a variance. The variance will be positive or negative. When positive, keep doing more of it and when negative, make some adjustments.

Will the lady achieve her 90 day goal?  It is early in the process and we will know in less than three months. Maybe your goal is to start a business, expand your business, find a new job or a job. Maybe your goal is to be in a relationship or improve your health. Whatever your goal, once clearly defined you can use what I just described to achieve it. Now you know. Now go do it.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Wayne Allyn Root Is The Guest..and What They Are Saying

“He is loud, colorful, opinionated, often outrageous and controversial. He isn’t afraid to state his opinions on anything and everything.”

Bill Maher, Former Host of ABC’s “Politically Incorrect”

“The Odds-maker of EVERYTHING!”

Donny Deutsch, Host on CNBC

“It’s no surprise that he has propelled himself to the highest echelons of success in the gaming, entertainment, business and publishing worlds. His exuberance, enthusiasm and winning smile speak volumes.”

Millionaire magazine

Hey Friend,

Above are testimonials about the special guest we’re having on our teleconference call tonight.

His name is Mr. Wayne Allyn Root.

He is a super successful business mogul having started several multi-million-dollar organizations and controls a Vegas gambling empire, dubbing him the “King of Vegas.”

Wayne will be one of our featured speakers at my Mega Partnering event, and as part of my all-content event pre-training series, I want you to join Wayne and I tonight at 6pm Pacific/7pm Mountain/8pm Central/9pm Eastern where he’ll share his insights on his mega success in business and life.

There are very few people on the planet who have the range and depth of real world experience like Wayne, and this is your chance to learn firsthand how he thinks, acts, works and wins.

Needless to say, Wayne is an interesting and charismatic personality and someone you should get to know tonight.

Lines on this call are limited, so you’ll want to be sure to dial in a few minutes early so you don’t miss out.

You can gain access to the by dialing into this number:

218-862-6400

Access Code: 369 2976

I hope you can make it on the call. It starts at 9pm Eastern / 8pm Central / 7pm Mountain / 6pm Pacific.

Best regards,

J.T. Foxx

P.S. The early bird scholarship deadline is near. Be sure to visit http://www.MegaPartnering.com for more details on this once-in-a-lifetime event.

Steve Pohlit

Director: Business Consulting, Top 1 Coaching, and the JT Foxx Organization
Business Consulting, Executive Coach
Turnaround/Crisis Management

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The First Step To Building Business Revenue And Profits

People attending the classes where I teach and who join the coaching or consulting program often think there is silver bullet or magic potion for making money.

I teach audiences averaging 60 or so people all over the US and Canada how to build business profits. From this work, approximately 10% become coaching clients. I open most presentations stating that they will learn the exact formula used with those in the coaching and consulting program.

In the opening portion of every coaching or consulting engagement, I begin with  “now comes the first question that I taught in the class”. Some are still surprised when I begin following the exact process that they learned at the event. This is the first step I am giving to you, my loyal readers.

Even though I have taught them all the steps, most have not completed the first step to building business profits.  In fact I have been tracking the numbers and when I give the exact formula for building business profits, only 2% as me for the detailed report.

The Difference Between The Class and Business Coaching and Business Consulting:

The difference is the class teaches all the steps and consulting shows the client how to implement the steps.  So what is the first step?  The first step is to have a clear definition of your business that is in alignment with how you make money.  I know this seems simple but most people do not get this right the first try. The definition should be one that you can write in a few sentences and say very clearly in about 10 seconds.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Harry Potter, Millenia Mall, Illusions

While working with a coaching client on site in Orlando, Florida I observed packed parking lots, traffic jams around Millenia Mall and filled restaurants. My comment was ” they have not heard there is a world wide recession!”

We discussed why the area seemed particularly crowded. The number one reason seemed to be that the new Harry Potter attraction had just opened at Universal Studios and it seemed be a huge draw.  So now I knew that my observation of the market could be distorted by a special event.

Later that day, I was invited to join a group at a very popular “upscale restaurant”. This place is very near Tiger Wood’s home.  My definition of an upscale restaurant is one where the dinner check for two including tip is in the $200 plus range.

After a marvelous dinner, I met the owner. I had a comment and a question. My comment was about the wonderful dining experienced I just finished. I assured him I really enjoyed it as did the  business people dining with me. My second remark was that his business is  actually an economic indicator…a barometer of how well people are doing.  Given that I asked how his business was doing on a comparable basis with last year.

Comparable analysis in business is where you compare the same period this year with the same period last year. In this example I was asking about business this year to date vs last year. He told me his business was down 30% and that the “upscale restaurant market” was down 40%.  He felt good as he was fairing better than the competition. I was not feeling that good about it considering the economic slide began accelerating in 2008.  This means the numbers in 2009 used as a comparison have already been on a decline so the decline in 2010 is particularly disturbing.

I mentioned to my client  and his key person in Orlando that I would send them a list of what I would recommend this restaurant business owner do to strengthen the business. I decided these 7 Steps could help many other business owners so I am using my blog for the action plan and I will email my friends to let them know about these ideas for their Orlando restaurant owner friend.

Top 7 Steps For Strengthen Sales and Profit In The Restaurant Industry….Actually Applies To Most Businesses:

1. Know your customer!  People coming thought the door and buying should be acknowledged with an email or card and possibly more. How do you do this?  You need to have their contact information and specifically an email address and now ideally their cell phone number.

Here is an idea on how you do that: Buy them a drink or a dessert in exchange for their information.  Here is the key: when you identify a particularly important person, the owner comes to the table, welcomes them and offers to buy their dinner in exchange for the cell phone number so they can be alerted for a very special event. Now before you say this ticket could be $200 or more I ask you how worth it is to have the cell phone number for key text messages with VIP’s and I mean people whose net worth is in 8 figures. This is huge

2. Have a plan. Your financial plan should be an annual target that can then be detailed to a weekly plan.

3. Know your numbers. Traffic and sales by time of day. Track your trends. Use this information to market to your list. Invite them to slower times using incentives.

4. Use all proven marketing tools to help grow your business. These include direct mail to targeted zip codes and ads with a “hook” in publications your target customer reads and other venues like radio, participation at key charitable events, local/regional festivals that are for your target audience, on line promotions and more.

5. Have your on line credibility in place meaning a website and social media presence

6. Use a referral marketing system. Reward people for inviting their friends and colleagues.

7. Monitor the variances from plan in all areas of your business. Nothing is excluded: payroll, food costs, utilities….the gold is in the detailed analysis of the variances.

Now You Know…Success Is In The Details.  Failure is almost always a result of not consistently following the steps that have been proven to lead to success.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.