Stop Making Excuses

Cameron Herold on how NOT to participate in the recession.

He’s the man who took junk and made it into a multi-million dollar business in just six years! It’s no wonder Cameron Herold, former COO of 1-800-GOT-JUNK, is considered one of North America’s most innovative business visionaries. Today, Herold continues doing what he does best – helping businesses grow with his own venture, BackPocket COO. And, if you’re tired of hearing about the recession, Herold has some great advice for businesses that are ready to move on.
 
STOP IT…STOP IT…STOP IT
Stop complaining & stop making excuses. So what the economy stinks.  Yes, there is a recession. Yes, housing has dropped. I know. I get it. Yet, as I told the entrepreneurs I was teaching this year at MIT’s Entrepreneurial Masters Program “You have a choice. Refuse to participate in the recession.” This fall – be one of the companies that turns their company into a winner…

Hire Another Sales Person

Remember when your competitors are slowing down and grumbling about the recession they start worrying their employees. When competitors start laying people off, the great employees fear for their jobs too. If you’re hiring sales people the word will get out and the positive buzz will start spreading.

Fire Your Customers
 
The Pareto Principle is bang on – 80% of your results come from 20% of your clients – so at least fire the bottom 20% of your clients (they’re sucking up 80% of your time). Feels odd to be thinking about getting rid of some of your revenues at any time, especially during a downturn but these clients likely generate very little revenue if not cost you money. So get rid of them.

Find Money Under Your Company’s “Pillow”

You’ve already got lots of products or services – you can re-brand them or re-market them. As an example I sell Leadership DVDs that are used by CEOs & their employees. Once I started selling them as a package of 4, DVDs sales really took off.

Stay Focused

Stop Doing Lists – don’t keep adding stuff to your list to do – if anything start crossing stuff off your lists that don’t need to be done – if it won’t have an impact on sales going up, profits going up or costs going down. 80% of the results come from 20% of the work. If you only had 2 hrs a day – what would you do?OK – do that!