Art for Race Fans

VICTORY 08-09 LOT 3 ROOKIE. L@@K US $0.39 (0 Bid) End Date: Wednesday Sep-08-2010 9:21:15 PDT

300 1978 Topps baseball cards US $30.00 End Date: Wednesday Sep-08-2010 9:22:16 PDT

Marques Colston Saints 15 card lot with 1 Rookie NM-MT US $1.40 (2 Bids) End Date: Wednesday Sep-08-2010 9:23:30 PDT

(16) 1995 TOPPS TONY GWYNN HOF INSERTS LOT G159 US $2.99 End Date: Wednesday Sep-08-2010 9:25:37 PDT

Randy Moss Patriots 15 card lot with 2 Refractors NM-MT US $0.99 (1 Bid) End Date: Wednesday Sep-08-2010 9:27:06 PDT

7 00/01 TOPPS PREMIER PLUS TEAM - FORSBERG / BRODEUR US $6.00 End Date: Wednesday Sep-08-2010 9:29:55 PDT

(12) 1993 TOPPS DAVE WINFIELD HOF LOT G159 US $1.19 End Date: Wednesday Sep-08-2010 9:30:33 PDT

Andy Moog 9 Individual Cards Lot-2 US $2.75 End Date: Wednesday Sep-08-2010 9:31:22 PDT

Daunte Culpepper 7 card Rookie lot NM $41 BV see scan US $0.99 (0 Bid) End Date: Wednesday Sep-08-2010 9:34:59 PDT

23 00/01 AURORA STRIPED CARDS ROY/YZERMAN/SAKIC US $15.00 End Date: Wednesday Sep-08-2010 9:36:49 PDT

3 06/07 UD ARTIFACTS LEGENDS xxx/999 US $4.00 End Date: Wednesday Sep-08-2010 9:37:36 PDT

2006 Dallas Cowboys Rayfield Wright Hall Of Fame Card US $2.00 End Date: Wednesday Sep-08-2010 9:41:26 PDT

2008 Wheels American Thunder NASCAR 23-Card Lot BV$25+ US $14.99 End Date: Wednesday Sep-08-2010 9:44:43 PDT

ANTONIO BRYANT Rookie RC Game Used Lot(9) Gold Ser. #'d US $19.99 End Date: Wednesday Sep-08-2010 9:45:43 PDT

1990-91 Pro Set Hockey 12 for 1.35$ Complete Your Set US $1.35 End Date: Wednesday Sep-08-2010 9:54:20 PDT

chipper jones 2008 upper deck jersey card US $5.00 End Date: Wednesday Sep-08-2010 9:54:45 PDT

17 DIKEMBE MUTOMBO BASKETBALL CARD LOT DENVER NUGGETS US $3.00 End Date: Wednesday Sep-08-2010 9:55:58 PDT

Tom Brady Patriots 15 card lot SAME card NM-MT US $1.25 (2 Bids) End Date: Wednesday Sep-08-2010 9:58:15 PDT

SIX SONNY JURGENSEN CARDS WITH NUMBERED INSERT US $2.50 (0 Bid) End Date: Wednesday Sep-08-2010 9:58:54 PDT

Felix Jones Cowboys 15 card lot with 3 Rookies NM-MT US $1.52 (2 Bids) End Date: Wednesday Sep-08-2010 10:00:11 PDT

SIX BRIAN URLACHER CARDS WITH NUMBERED INSERT US $2.00 (0 Bid) End Date: Wednesday Sep-08-2010 10:00:12 PDT

(13) 1993 TOPPS GREG MADDUX BASEBALL LOT G159 US $1.99 End Date: Wednesday Sep-08-2010 10:00:41 PDT

Kurt Warner 20 card lot NM-MT see scan US $0.99 (0 Bid) End Date: Wednesday Sep-08-2010 10:01:09 PDT

SIX JOE THEISMANN CARDS WITH NUMBERED INSERT US $2.50 (0 Bid) End Date: Wednesday Sep-08-2010 10:01:27 PDT

SIX CHAD JOHNSON CARDS WITH NUMBERED INSERT US $2.00 (0 Bid) End Date: Wednesday Sep-08-2010 10:02:28 PDT

SIX DIFFERENT KEN STABLER CARDS US $2.50 (0 Bid) End Date: Wednesday Sep-08-2010 10:04:17 PDT

1985 TOPPS USFL SET ***(11)*** COMPLETE FACTORY SETS US $950.00 End Date: Wednesday Sep-08-2010 10:05:24 PDT

2007 Bowman Chrome #BC193 Larry Fitzgerald Lot of 3 US $2.79 End Date: Wednesday Sep-08-2010 10:12:15 PDT

90 + hockey card mix 1990 to 2010 US $2.40 (4 Bids) End Date: Wednesday Sep-08-2010 10:17:57 PDT

Lot of 11 1999 Kurt Warner RC Leaf Pacific Playoff Mom US $99.99 End Date: Wednesday Sep-08-2010 10:18:07 PDT

MICHAEL VICK RC JERSEY LOT TOPPS & FLEER SHOWCASE US $8.00 End Date: Wednesday Sep-08-2010 10:20:01 PDT

MICHAEL VICK RC JERSEY LOT TOPPS & FLEER SHOWCASE US $8.00 End Date: Wednesday Sep-08-2010 10:21:54 PDT

09 10 OPC base cards pick 20 US $0.99 (0 Bid) End Date: Wednesday Sep-08-2010 10:22:59 PDT

darren mcfadden 2008 ud football heroes rookie card US $2.50 End Date: Wednesday Sep-08-2010 10:23:43 PDT

MICHAEL VICK RC JERSEY LOT SPX 7 UD VINTAGE EAGLES US $8.00 End Date: Wednesday Sep-08-2010 10:25:09 PDT

REGGIE BUSH 2007 TOPPS TURN BACK THE CLOCK 5 CARD LOT US $1.25 End Date: Wednesday Sep-08-2010 10:27:14 PDT

MICHAEL VICK RC JERSEY LOT FLAIR & UD VINTAGE EAGLES US $8.00 End Date: Wednesday Sep-08-2010 10:27:15 PDT

MICHAEL VICK RC JERSEY LOT BOWMAN & UD FINITE EAGLES US $8.00 End Date: Wednesday Sep-08-2010 10:29:11 PDT

25 CARD ARIZONA CARDINALS LOT LARRY FITZGERALD DANSBY US $2.25 End Date: Wednesday Sep-08-2010 10:29:18 PDT

vince young 2007 topps finest-finest moments #9/899 US $1.75 End Date: Wednesday Sep-08-2010 10:29:50 PDT

MICHAEL VICK RC JERSEY LOT UD VICTORY & PACIFIC EAGLES US $8.00 End Date: Wednesday Sep-08-2010 10:31:54 PDT

MICHAEL VICK RC JERSEY LOT UD VICTORY & UD SP EAGLES US $8.00 End Date: Wednesday Sep-08-2010 10:34:33 PDT

julius peppers 2008 score select red zone #12/30 US $5.00 End Date: Wednesday Sep-08-2010 10:34:47 PDT

NHL HOCKEY JERSEY AUTO 4 CARD LOT W/ NIEDERMAYER JERSEY US $12.60 End Date: Wednesday Sep-08-2010 10:34:57 PDT

NHL HOCKEY JERSEY AUTO 4 CARD LOT WITH 05 JERSEY /999 US $12.60 End Date: Wednesday Sep-08-2010 10:35:26 PDT

LOT OF 65 DIFFERENT 2005 NASCAR POSTCARDS US $45.00 End Date: Wednesday Sep-08-2010 10:36:03 PDT

NHL HOCKEY JERSEY AUTO 4 CARD LOT WITH BELFOUR AUTO US $12.60 End Date: Wednesday Sep-08-2010 10:36:17 PDT

25 KEVIN GARNETT CARD LOT MINNESOTA TIMBERWOLVES US $4.00 End Date: Wednesday Sep-08-2010 10:36:26 PDT

NHL HOCKEY JERSEY AUTO 4 CARD LOT WITH JOKINEN JERSEY US $12.60 End Date: Wednesday Sep-08-2010 10:36:47 PDT

Patrick Ewing - HUGE 60+ Card Lot US $7.50 End Date: Wednesday Sep-08-2010 10:37:03 PDT

Last time, we discussed 5 of the 10 signs that your business may be heading for trouble. All involved looking at the structure of your top line, your sales. Now we want to move on to the next five signs.

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#6 – High employee turnover

When you lose employees, customers are affected – they deal with less experienced people who don’t know your business or the customer’s needs as well as long-time employees.

There’s a concept from Harvard Business School called The Service – Profit Chain. It says that employee satisfaction leads to customer satisfaction. Customer satisfaction leads to revenue growth. And revenue growth leads to profit growth.

So the chain starts with employee satisfaction. High employee turnover is often a sign of unhappy employees. That is why this is such an important early warning sign. Plus the costs of training people so they’re fully productive are significant.

#7 – Costs rising faster than sales

Costs rise for a number of reasons. As your sales rise, so will your costs. If they don’t, why do you need that cost at all? So rising costs are expected. However, it’s a bad sign if costs are rising faster than sales. You have less and less profit on each dollar of sales.

#8 – Disproportionate purchases from one vendor.

Sign #5 was being too dependent on a single customer. We don’t want to be dependent on any vendor either. This applies not just at the enterprise level, but within product categories as well.

If you’re too dependent on any one vendor in any one category, your vendor may have too much leverage in your business. They can pass on cost increases to you that you may not be able to pass on to your customers.

So it’s important to diversify your vendor base or at least have a back-up plan for needed supplies. Maybe you still use your vendor, but you know who you would go to if need be.

#9 – Unwarranted increase in receivables

It’s great to make sales, but not if you don’t get paid! That’s worse than not making the sale at all because it costs you money to make a sale. Slow paying customers also create problems because you can’t pay your bills with receivables; you need cash!

This is one of the biggest challenges facing small businesses right now. Their customers are paying slower, which means receivables are growing. Make sure you’re the squeaky wheel – you have to keep after them, make some noise, so you stay high on the list. Consider offering a discount for early payment or, even better, change your terms to cash-on-delivery if possible. And best of all, ask for prepayment. But that’s a whole other show!

If you can’t afford to offer a discount, make sure you’re charging a late fee and notifying your customers regularly of their balance due. Get on the phone and call them. See when they will pay and then follow-up if they don’t.

#10 – Unjustifiable inventory build-up

Depending on your business, inventory may be even less liquid than receivables. First, you have to sell it; then you have to collect on the sale.

Inventory that’s not turning over is dead-weight. So if your inventory is building up too fast, your business will likely experience a cash crunch at some point. Get slow moving inventory out the door, even if you have to give it away!

How does that help, you ask? Because space is costly for any business. And shelf space is an incredible asset for retailers. Having a product sitting there as dead weight costs any business a little bit; it costs retailers a lot!

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Thanks so much for reading our post today. Join us next time when we ask, “Do we need to take the social out of social media?” Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00349-031209.mp3

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There’s Gold In Them There ... Customers!

(Image in today's post by asifthebes)

jasoncalacanis posted a photo:

This entry was posted on Wednesday, June 11th, 2008 at 8:42 am and is filed under Lots. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.