Why I Friggin’ Love Family Owned Businesses

Did you know that the greatest part of America’s wealth lies with family-owned businesses? Family firms comprise 80 to 90 percent of all business enterprises in North America! I love working for family owned businesses because I can sense the commitment, drive and purpose that formed the foundation. What truly drives many family businesses is the sense of connection and identity the owners and their family members feel with the business. Here’s the naked truth, though. More than 30% of all family-owned businesses survive into the second generation, however that means almost 70% didn’t make it. As the business moves to the next generation only 12% will still be viable into the third generation, with only 3% of all family businesses operating at the fourth-generation level and beyond. I have worked with over 100 family-owned businesses in the last 30 years to prepare the second and third generation succession. It is my passion and purpose to keep the family owned businesses … [Read more...]

Profitivity’s Tips To Making Your Holidays Bright

 Keep your team informed and keep communication flowing.  Communication reduces stress, gets everyone focused and brings the team together.  Do 5-minute morning and afternoon "huddles." Update everyone on what has arrived, changed, etc. Give an update on goals and achievements. Create a "Pass it on" or "Talk it up" for the day. Remind everyone about current promotions. Have everyone practice one selling skill out loud. Create an average Items Per Transaction goal.  "Average Sale" is very hard to visualize so have everyone suggest several items that will create great gift packages.  You save customers time and energy by putting "packages" together for them and you will automatically be increasing average Items Per Transaction.  Plus, it's fun! Acknowledge every customer with a smile, eye contact and a brief "Hello" and then let them browse until they WANT attention.  Most customers want to start off by blissfully browsing (moving slowly and looking around) and they … [Read more...]

7 Comfort Zone Busters To Ignite Your Business

I have an important message for you today. If you want to expand your business, increase customer loyalty and have double-digit increases in sales you have GOT to stay out of the comfort zone. That means you and your teammates must be willing to be uncomfortable. Have you ever shopped in a store where every employee is in their own comfort zone? What is the service like? What behavior do you see? Here’s how I see it. Often, I can’t find an associate and when I do, it looks like they are just going through the motions with very low energy. They do tasks with their head down. They walk by me, avoiding eye contact and not offering a greeting. They don’t listen when I ask a question or they tell me they are new here or it’s not their department. If I have a question or concern, they just roll their eyes if I sound even a little bit annoyed. They talk to each other (over my head) and avoid communicating with customers who are signaling for attention. In fact, they can be unconscious … [Read more...]