Dodo Loves Marketing

Now that we have examined some of the negatives of expansion from a very small business to a medium-sized small business, let’s give equal time to the potential benefits.

One of the most important components of gross profit is the degree to which you’re able to set your selling price. Your ability to set that price is largely a function of your control of the marketplace. At one extreme, you may have a patented product for which there is no substitute, and for which there is totally elastic demand (people will buy it at any cost). If that item costs you a dollar, you may be able to sell it for ten dollars, one hundred dollars, even one thousand dollars. At the other end of the spectrum, you may be selling wheat in Nebraska. In that case, it’s unlikely that you’ll be able to command one-tenth of one cent over the market price on the day you sell. ..more

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George has owned a small machine shop for about twenty years. He’s very good at what he does. He delivers precision parts at good prices on time. He is so good that his customers are always pushing him to expand his capacity. You see, George has maintained his on-time delivery reputation by having the audacity (and the discipline) to turn down work he knows he can’t deliver on time.

Five years ago George had eight employees. The business consisted of a bookkeeper, an estimator, a production supervisor, and five machine operators. George took home $90,000 a year and paid cash for each new machine. He owned the building free and clear. He had no bank debt. ..more

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Dress

Wear what you’d wear on the job if you were hired. If you’re unsure, it’s better to overdress than underdress. But make sure you feel comfortable—if you feel strange,you look strange.

Grooming

It’s not just for dogs and cats and horses anymore. It’s important for humans too:

• Fix your hair so it stays out of your eyes. Compulsive adults will be thinking of how to shove it out of the way for you.
• Don’t wear a lot of cologne, perfume, or aftershave. (Hint: If they smell you before they see you, it’s too much.)
• Try not to smell like tobacco, gasoline, or a wet dog.
• Get the cat hair off your sweater.
• Remove the Milk Duds debris from your teeth.
• Avoid makeup that looks like it was applied while you were riding on a motorcycle. This is especially important for girls.
• Use a breath mint. ..more
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Most adults must go through a job interview before getting hired. Some teenagers have it easier. The high turnover rate in teenage jobs forces employers to fill positions quickly, sometimes without a formal interview. A desperate employer may conduct an interview like this one:

BOSS: Are you human?:

YOU:Yes.

BOSS: Are you an escaped convict?
YOU: No.

BOSS: You’re hired. ..more

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After an interview, send a thank-you letter to the person who interviewed you. If there was more than one interviewer, write the note to the one who has the power to hire you. Mail the letter that day so the person doesn’t have an opportunity to forget you. Now continue your job search, meeting managers and lining up interviews— keep working at it. Your goal is to have at least two or three offers to choose from.

When you get a job offer, generally by phone, thank the person sincerely. Write down the details; starting date, wage, hours, and so on. Tell the employer that you’d like to accept but you need a day to discuss it with your family. Now talk it over with your parents and some close friends. Compare the job offer to your original goals. Sometimes in the excitement of landing a job you can lose sight of your own best interests. ..more

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Do What’s Right

Your job is one of the toughest proving grounds for your integrity. Behavior that’s clearly wrong at home or among friends is often standard conduct at the workplace. Work is where many people who disapprove of lying, cheating, and stealing have no problem calling in sick when they aren’t, stretching the hours on their time cards, or taking home merchandise that’s not theirs.

Behave according to what you know, not according to the code of ethics that you see others following. ..more

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3. Be Real

There are two voices in your brain. The first says, “If I admit my mistakes, I’ll look weak and lose people’s respect.” The second says, “When a person I respect admits her mistakes, I end up respecting her more.” Isn’t it amazing how you can know a fact but think you’re the only one on the planet that it doesn’t apply to?

When you’re wrong, say it. It may temporarily streak your self-image, but it polishes the image others see.

Let’s say you lose your cool and ridicule a worker in front of everyone. A moment later you regret your action and decide to admit you were wrong. You can say you’re sorry in two ways. No matter what words you use, the first kind of sorry means, “I’m sorry because what I did made me look foolish.” The only thing you regret is the damage you did to yourself. Let’s call that a selfish sorry. ..more

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Here’s what I’m picturing: You worked hard to land a good job. Once there, you worked even harder, proving yourself as the ideal employee. In fact, you’ve done such excellent work that your employer has now made you a boss. New title, new responsibilities, (hopefully) new money, . . . and the power to tell other people what to do (get my coffee, shine my shoes, do ten push-ups).

Actually, you probably already know that being a leader is mostly what you do for other people—not to them. If you want to grow in your job and be as good a boss as you were a lowly worker, you’ll have to work harder than ever. Here are five ways to be a good boss. ..more

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True confession: I’ve hated every job I’ve ever had . . . for the first month. The first days in a new job are miserable; I forget everyone’s name, and when I do remember, I get them mixed up—”My name’s not Ralph—it’s Rebecca!” I become so self- conscious that I not only forget everything I’ve just been taught but everything I’ve ever been taught: multiplication tables, how to tie shoes, and the whole concept of opening the door before I attempt to leave the room.

But the condition is only temporary. After the first month I become normal again (relatively speaking) and start to enjoy the job.

Most employers understand that your first few weeks may be rough, and they generally cut you some slack. But there comes a time when you had better do your job right; if you want to keep it, you’ll have to deliver. ..more

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Wait a minute—didn’t we just do that? Kind of. But the real cost you need to count isn’t an arithmetic exercise. You must consider the cost to your nonfinancial priorities— school, family, church, friends, and future. The time and attention you pour into your work can damage things that can’t be replaced with cash. If the true cost is too much, set your plans aside. On the other hand, if you can start this new venture without sacrificing more important things, give it a go.

SELL, SELL, SELL

Launching a business is tough, but keeping it going is tougher. To survive, you must attract customers. Who are the people you’ll be serving? How do you land them as customers? Basically, there are three circles of customers: 1) people you know, 2) people who know the people you know, and 3) strangers. Let’s look at each circle. ..more

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