Businesses encouraged to 'know themselves' well

By PAULA BARR
Daily Journal Staff Writer

Published: Sunday, November 22, 2009
Updated: Wednesday, November 18, 2009 9:46 AM CST

PARK HILLS — Bob Boles began his talk with a game and ended with advice to get help from teenagers Tuesday at the Park Hills-Leadington Chamber of Commerce meeting in Park Hills.

Both were pieces of strategy to help improve business. Boles, of SCORE (Special Corps of Retired Executives) was the guest speaker at the meeting. SCORE is an organization of 12,000 retired businessmen across the country who mentor business owners.

The game involved tracing numbers in order on a sheet of jumbled numbers from 1 to 60. Chamber members and their guests had 30 seconds to trace the numbers. Boles had them do the exercise three times to show that practice yields improvement in results.

“The more you practice, the better you get,” he said. “That applies to business as well.”

Most businesses fail because the owner is not busy enough and/or they don’t manage their money well, he said.

“There are three rules of business,” he said. “Get the money, count the money and keep the money. That’s what business is all about.”

SCORE helps all types of businesses by offering advice and tips to help owners increase their success.

Among his suggestions, Boles said owners need to look in the mirror for solutions to their problems.

“Ask yourself what you have that somebody wants to buy,” he said. “Figure out why people don’t want to buy from you. It’s because you have not made some fear go away.”

Save paperwork for after 5:30 p.m. or do it before 8:30 a.m., Boles recommended. During business hours, meet with clients, e-mail previous customers, and educate yourself about your field. On sales calls, ask why they agreed to see you. That gets clients talking, and when they are taking, selling starts taking place, according to Boles.

The more you know about your business, the better. Attend seminars and workshops, read trade magazines and read the daily issue of Wall Street Journal.

The Internet is an invaluable tool, Boles stressed.

“Social media is a thing that’s happening, and you need to be part of it,” he said. “Get on Facebook or Linkedon. Hire a digital native (a teenager) to help.”

Look for “20 groups” in your industry on the Internet, he added. Those are groups of professionals who share resources and tips with each other.

“In the Bible, it tells us to ‘expand the place of your tent,’” he told the chamber members. “These are ways you can expand the place of your tent - your business.”

Don’t be afraid to try something new, even if you might fail, Boles concluded. Failure is what leads to success.

Paula Barr is a reporter for the Daily Journal and can be reached at 573-431-2010, ext. 172 or at pbarr@dailyjournalonline.com.

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