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Top 5 No-No’s to Know in Running Your Business

No-No's in Running Your Business
Having spent so much time with my wonderful coaching clients this week, it became clear that there are a few rules you should know.
Top 5 No-No’s to Know in Running Your Business
  1. Never start a speech with a question – When you start your talk with a question, you confuse the audience.  Imagine that I have just taken the stage and ask “How many of you want to make more money?”  You’re confused, because you don’t know if you’re supposed to answer, raise your hand, shout out a response, or if the question is merely rhetorical.  Lesson: Never ask a rhetorical question in a speech!
  2. Don’t give away any “tips” – Tips are pithy, cheap and unworthy.  Strategies, suggestions, rules and guidelines are valuable.
  3. Helping verbs don’t help – Write a piece of copy and then delete extraneous words such as “very” and “help.”  Compare: “I am very eager to meet with you” to “I am eager to meet with you.”
  4. Don’t create a complicated pricing system – Simplicity rules in pricing.  Make all music downloads $0.99 or all CD’s $29.99.  My fave client, Hacienda de las Rosas, made pricing easier for all when they switched to a simple $10 tasting fee.
  5. Don’t invest in recurring costs until your biz supports it – Many of my clients want a fancy website and shopping cart, but until revenue is pouring in, us a pay-as-you-go system such as PayPal.  The mantra here is: revenues before expenses.

Can YOU share a No-No?  Join the conversation by commenting below.

2 Comments
  1. Some great points in here, as ever with Liz. But I would refine the first point to: “Never start a speech with a yes or no question.” Starting with something like, “Who was the person in your life who taught you the importance of giving to others? For me, it was my Aunt Bessie. She was…”
    No one really thinks you’re opening a conversation there, but it gets them thinking for a moment.

    Liz, you may remember from our joint program when I told the story of the architect whom I had start his speech on “the history of architecture” with “Which was the bigger step forward in the history of architecture – building the pyramids or erecting the empire state building? (brief pause) Of course, this is a crazy question, because they are so different, yet each one was the right step forward for their point in history.”

    The startling opening question (at least for a group of architects) really pulled people in…and no one tried to answer.

    Great article overall!
    See ya!

  2. I understand about the architect, HOWEVER, I still wouldn’t start a speech this way. Instead, I would say, “let me ask you a question and think about it: which is the bigger…”

    In this manner, the audience knows what they are supposed to do. Or, “hmmm, by a show of hands, how many of you….”

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