I’ve talked to quite a few people lately that have recognized that they are the constraint for their business.

In order to make more money, based on the way they are currently working, they personally need to work more hours.  The problem with that approach is that they’re already working more than they’d like to be working, and generally it’s been that way for quite a while.

I hate to break it to them, but they actually have a JOB, not a business. 

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I had the chance to talk with one of my fellow PBCA members (Professional Business Coaches Alliance) the other day who is also a CPA.  I always find it interesting to get his perspective because I (like a lot of people) sometimes get overwhelmed with financial jargon.

Unlike some CPAs, John does a great job of keeping things simple.  A big part of the discussion we had was on the importance of Cash Flow relative to the health of a business.

Discussions on Income Statements and Balance sheets are often where an accountant will take you - and those are very important things to keep up to date and accurate, but they won’t always tell the whole story and they’re often more complicated due to accounting standards and can be difficult to plan with.

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We had a great discussion this morning at a BANG! meeting about the need and the fear of raising prices.  The general consensus was that everyone had entertained fears that a price hike on their services would drive away clients.

We also generally agreed that the reality, assuming you had quality service that wasn’t a commodity, was that not only could you raise prices, but potentially you should be raising prices.

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Over time, I’ve been exposed to a bunch of different motivational books, programs and shows and most of them cover at least the following basic ideas:

1. Have a goal or vision in mind before you get started.
2. Clearly articulate (in writing) what that goal or vision is.
3. Come up with a way to track progress, milestones or success along the way and actively track your activity and progress.
4. Make sure you celebrate successes as you go.

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A few weeks ago I referenced SPIN Selling for an article and I thought I’d follow up with a quick overview.  It’s a great book (highly recommended) and it’s a must read if you are involved in large ticket sales in any way or if you just like to understand some of the science behind business.

It was written back in 1988, but the concepts are timeless and certainly as applicable today as they were almost 20 years ago.  In a nutshell, the book is about a selling system that follows a very simple model based around questions:

• Situation Questions – to establish background
• Problem Questions – to uncover the customer’s pain
• Implication Questions – to develop the customer’s pain
• Need/Payoff Questions – to develop the customer’s solution

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