Customer Complaints

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.

I met with a client in the education business last week and he said he wanted to lower his prices because he was getting customer complaints.  I asked him how many complaints he got.  He said he got one complaint out of every four customers.  I told him that’s perfect!

My name is Michael Barbarita from Next Step CFO with the Know Your Numbers Minute.  

Getting one out of four customer complaints to me means you’re pricing is right on.  It is when you don’t get any customer complaints your prices are too low.  I had another client in the service industry that wasn’t getting any complaints come to find out he was selling his products and services below cost.

Remember, the most successful business owners know their numbers.

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Conviction and Belief in your Business

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.

In 1900 if you asked 1000 people “Is it possible to fly?”  How many would have said yes?  Probably 2 and they would have been hauled off in strait jackets.  Today if you asked 1000 people “Is it possible to fly?”  Only 2 would say no and they would be considered crazy!   The point is in 1900 2 people, Orville and Wilbur Wright had the conviction and the belief that man would fly despite what others thought.  The founder of a startup company has to have this very same conviction and belief.

My name is Michael Barbarita from Next Step CFO with the Know Your Numbers Minute.  

If you are starting a business and you don’t have the conviction and belief that your product or service is great even despite what others think you are going to have a rough road.

It all starts with an undying faith and belief

And remember, the most successful business owners know their numbers.

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Contract Manufacturers

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.

Many companies who want to manufacture a product don’t have the financial wherewithal to buy or lease a facility and equipment and need to get contract manufacturers. 

Finding the right contract manufacturer can be a challenging pursuit.

My name is Michael Barbarita from Next Step CFO with the Know Your Numbers Minute.  

Here are just 3 of many things you need to know about finding the right contract manufacturer:

  • Make sure they have enough manufacturing capacity
  • Make sure they have the right equipment
  • Make sure they have the right prices so you can be competitive in your market

And remember, the most successful business owners know their numbers.

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Clarity

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting

Financial Forecasts, Financial dashboards accurate product or service costs and other business intelligence all lead to one thing.

Clarity

The more clarity you have about the future the less fear and anxiety you have about your business.

My name is Michael Barbarita from Next Step CFO with the Know Your Numbers Minute.  

Financial Forecasts, Financial dashboards and accurate product or service costs are all things that I do to help bring clarity to the business owner.

And remember, the most successful business owners know their numbers.

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