OMG!! This guy won’t stop calling! IGNORE!

That was me 10 minutes before I sat down to write this blog. Every morning these days I get an email from an address I’ve never seen before: “Hi Dietrich…I was looking at your website and I noticed…” DELETE!

In this 2020 biz world, we’re bombarded with advertisements, some got-to-have product we’ve got to have. Frankly, it’s sleazy and cheesy. I can’t be the only one who finds it annoying when Mike Trout is pushing a protein drink on his Instagram page. I get it. We shouldn’t fault people for peddling their products or services, but there really is an etiquette to this. It separates the discerning professional from the indiscriminate snake oil guy.

I’ve been in sales my entire career. I have been politely asked to get lost.

​From those experiences, here’s my learn on business etiquette. Refer to THE BOOK. Yes, I’m talking about Emily Post’s Etiquette. Adhering to rules of etiquette is how successful people conduct themselves. Basically, it’s how you get people to listen and maybe even like you. Be interested in people and they will generally be interested in you. Be + considerate.

It really is simple. Follow the Golden Rule. Don’t do unto someone else something you wouldn’t want done unto you. I hate it when someone spams me, therefore, I don’t do it to others. I know. It’s a numbers game, but it ultimately does more harm than good.

Sure, cold call or email a potential client, but do it considerately. Research before you pick up the phone or type a word. Anticipate a genuine need or want, instead of trying to sell. No need to be pushy. Begin the relationship with a subtle touch, then follow the contact on Twitter, Instagram, and LinkedIn. Get to know them and what they like. Not every contact should become a customer — there’s a polite way to find that out.

It isn’t spamming and calling three times a day.

You’re single and ready to mingle, not married and you are looking for a girlfriend or a boyfriend. What does that person look like? How does that person act? What are his or her hobbies? Do they work out? Do they read a lot? Do they like to write? Do they chew with their mouth open?

Just like a perfect partner, some customers are perfect and some – not so much.  

When it comes to customers, we typically run a “come one, come all” attitude towards business. We will work with anyone who is willing to work us, unlike dating where we become very particular about who we will accept. The reality is that not every customer is for us.

We are routinely asked, “Can you print this?”, “Can you make that?”, “How fast can you do it?” My reply is “Well, I’m not pushing a Bentley, so of course we will take the work.” In the early days, I would put in hours and hours to produce an invitation — paper samples, design samples, running proofs, running proofs, running proofs (you get the idea). I could have charged $5,000 for the 250 invitations and would still have lost money. Highly unlikely that customer will place future orders or be a referral source. Although very nice people, we should have sent them to an online supplier specialist.

Fortunately, there are customers who are oh so perfect. We have accounts that order from us every single day, tell us constantly how grateful they are for our service, and always pay their bills. That said, the concept that “I like the customers who like me” is the fastest way to lose money and go out of business. Since taking our lumps, we have created the profile of what we believe is our perfect customer.

Our ideal is an overworked purchasing department, facilities department or marketing team. A company with multiple locations across California — property management, credit unions, fast food chains, coffee franchises — who can simply click the “Forward” button and we take it from there. The reality is that most client relationships begin as a push-pull effort to match goals and needs with capabilities. Sometimes we can, sometimes we can’t. The better we are at listening and hearing, the more often the ideal customer shows up.

Oh, and one other thing. According to Grant Cordone (If You’re Not First, Your Last), the money is in the follow up. I would never have ended up marrying my wife if I had not followed up many, many, times. Customers are the same. This Covid-19 distancing period is the opportune time to get virtually closer to your “oh so perfect” clients. Follow up!

I just saw a headline – how a guy (Moiz Ali) took a deodorant company (Native) from $0 to $100 million in 2 years!
 
How did this guy do it? What does he know that we don’t know?
 
What do financially successful people have that others don’t have? Gift of gab? Talent?  I once heard that a wise man learns from others mistakes and an idiot learns from his own. To take a business from $0 to a $100Ms, you have to have some help along the way. You need a few good examples of people that came before you.
 
A mentor is only as good as you are willing to heed their advice. Why be so thick-headed that you think you already know how to do something? Unless you have already successfully done it, the truth is you don’t know how. We want to build a $5 million dollar company, we have never done that. We need to find someone who has, then have them mentor us. I want to complete a triathlon. I better get out there and figure out how, and talk to someone who has done it.
 
We have all done something in our life that can be of value to someone else. Pay it forward. Fastest way to misery is to avoid service, to be nothing but a lesson to people of what not to be.
 
At some point in our lives we will be an example to someone else. The question is, “Are we an inspiration to that person, or are we that person no one wants to be like?” Be a teacher to someone, guide them through all the mistakes you made so they can avoid making them too.
 
Pay it forward and support someone to becoming better than you. You will know you did a good job when “the apprentice is now the master.”
 
Be a blessing in someone’s life, not the lesson.
 

This was one of our favorite projects to date. Results delivered, budgets hit and happy customers!! Here is how we did it.  
 
Our client was in a waiting period on an updated signage package. They had recently spent the past 8 months repositioning the main entrance and amenities throughout the property.  
 
They are in a beautiful 75 unit apartment complex located just blocks from the beach in Southern California. The competition surrounding them was tough, they were all properties that had up to date amenities and appeared to have been built “many years” after them.
 
The client had inked a contract with a highly professional environmental architecture firm and were waiting on a signage package for this property among others.
 
They didn’t want to spend much money knowing that they are going to get all new signage throughout the property at a later date.
 
The client reached out to DWJ Print (dba DWJ Electric Sign) and said…

​We quickly gathered the team, went to the property to take pictures and gather measurements. #measuretwicecutonce  ALWAYS do a site survey before quoting, designing or installing any signage.
 
We discussed a vinyl banner to hang over the stucco wall, but the client ultimately decided to go away from that idea. We all agreed that it would not reflect the brand of the property nor tell the story of how beautiful the new amenities now are. The team also felt that the vinyl banner would not reflect the hard work the staff had put into the remodel.
 
We were off, we have worked with this client for several years, so we knew what information they wanted, needed and the correct font style they need. We proposed a ½” Black Acrylic laser cut letters mounted directly to the stucco wall. We would easily be able to get the ½” Black Acrylic material to stick to their timeline. As well, we could easily cut the acrylic on the laser machine in a matter of a day.
 
We provided the client a quote and proof. They quickly signed off on the project for approval and we got to work.
 
Before we move forward on cutting materials or begin sign fabrication, we create a paper pattern exactly to size. We print the pattern on 60# uncoated sheet using a Mimaki 72 in Large Format Printer Eco Solvent Outdoor Wide Printing Plotte. We then take it to the job site and are sure to tape it up to the exact location we will install the sign. It gives the client a great chance to look exactly what will go up and how it will fit.
 
The community manager came out and gave us the thumbs up.
 
Back at the shop we began cutting. And cutting and cutting. Until finally the acrylic was cut and ready for installation.
 
From that point, the DWJ team of technicians got back to the apartment complex and went to work on the installation.  
 
Today the sign looks beautiful and is a welcome home for all the residents and their new home.

​As I pulled into the office this morning, I couldn’t help but notice the banner we hung on city property has gone untouched. The surrounding industrial community and LA Metro station landscape can bring unsavory personnel past our business.
 
The banner is a tribute we made to honor the passing of Los Angeles great, Kobe Bryant. It has been up for several weeks and looks still brand new. I couldn’t help but think what would Kobe be doing in these times?

Obviously, the answer – setting goals to keep him focused. Therefore, that’s exactly what we are doing.
 
As we all know, right now everyone is on lock down trying to protect our elderly citizens from getting sick. At the time of this writing we have 40,550 total cases with 473 deaths. A 1% death rate if you test positive for COVID-19.
 
The chance of you getting COVID-19 is very low and even lower that you are going to die.
 
BREAKING NEWS - you are going to live!!  
 
Therefore, we better make it a point to be prepared for the days following this virus outbreak.  
 
Here at DWJ we are challenging each of us to put together our goals over the next 30 days. Come April 23 here are the goals I hope to achieve.

You have a great idea for a small business. You've done all the research, you know there's a need for your product or service and you even have a few great marketing ideas. Unfortunately, you're not exactly a financial genius. You know profit is a good thing and loss not so much. However, when people start asking anything more complicated than are you making any money, you're at a bit of a loss.
 
Even if you employ a top-notch accountant to deal with money matters, it helps to know what position your company is in. To help demystify small business finances, let's look at the basics – P&L and the balance sheet.
 
Profit and Loss Statement
 
At its simplest definition, profit is what is left over after you subtract your costs from your income. From this point, it becomes a matter of going into detail. What are the costs? Are they recurring or once-off? Do you have a single type of income or are there various categories – for example, a property company could get income from rentals, property sales, or investments. Each of these is a different kind of income, or revenue that needs to be shown as its own item on the statement, but counted together, they are all income. Costs could include salaries, consumables, marketing and a host of others.
 
Loss, however, is not the same as costs, or expenses. Loss happens when income minus expenditure results in a negative figure – in other words, when you've made less money than you've spent. This could be because of any number of factors, including unexpected expenses, failure to make enough sales, or a sudden increase in costs. At the same time, loss can be deceptive – for example, just because you haven't sold your inventory doesn't mean it doesn't have value. That's where the balance sheet comes in.
 
Balance Sheet
 
A balance sheet shows your company's overall situation when it comes to assets and liabilities. Assets are anything you own, including income received, property, inventory, investments, equipment, anything that has any kind of value that you owner. Liabilities are anything that causes a drain on your finances. This can include normal operating costs, maintenance fees, even depreciation in the value of fixed assets. The balance sheet takes all these factors into account to show the total balance of equity in your company.
 
Of course, the deeper into company finances you go, the more complex it can seem, but if you can get a handle on these two important statements, you are well on your way to being in control of your own company finances.
 
 

​There is any number of reasons why you could need to know what your business is worth – applying for a business loan, deciding to expand, or to sell out at a profit. You might even be a buyer looking to invest in or purchase a small business, wanting to find out whether it's worth it or not. But how do you accurately assess the value of your business?
 
There's more to it than just looking at your profit margins. We're taking a look at three important things to look at when assessing the value of a small business.
 
Financial Value
 
The first, and probably most logical, place to start is the financial value of the business. This is reasonably straightforward to calculate, although it is advisable to use the services of a good accountant or financial manager to make sure everything is taken into account. The simple calculation is Assets – Liabilities to get the fixed value, plus average profit over the last three years to gauge potential income.
 
Market Value
 
Market value has less to do with its financial value and more to do with whether it has potential to grow beyond its current position. There are several questions you can ask to determine market value:
 
Where does your business sit in relation to other, similar businesses in the market? Who is your target market and what are they doing at the moment? Does your product or service have any unique selling points that could attract investors or buyers? What is the potential for growth in the market generally and this company specifically? If there room for growth or is the market saturated? Look at other, companies of similar size to find out how they have fared in the last year – has there been a significant number of closures in the industry or is it booming?
 
These questions aren't going to give you a financial value, but will help you gauge whether it is worth selling, investing in or buying this kind of company.
 
Reputational Value
 
Even in difficult market conditions, some companies have such a good reputation for customer service, product excellence, market presence, and goodwill that they are a good choice for any investor. Such companies tend to have repeat business based on their positive reputation and relationships with customers.
 
Fortunately, it is a lot easier to find information on a company's reputation than it used to be, say, twenty years ago. With social media, online reviews, publicly available reporting information and even something as simple as email, it is reasonably easy to find out if the company has a good – or bad – reputation.
 
It is always extremely risky to take on a company with a bad reputation, although it is possible to publicize the fact that the company is under new management and that things will change. Counter-intuitively, it can also be extremely risky to take on a company with an impeccable reputation; there is always the possibility that the reputation relies heavily on some seemingly magic combination of factors that could shift under new management.
 
Whether you're the current business owner, a prospective investor or someone looking to buy a business, remember this – the value of a company lies in more than just the money it makes, and a savvy investor will take that to heart.

Best Business Practice – Learning From the Best


Every day, thousands of start-up companies are born. The majority of them will fail, but a few will succeed and it's all because they followed a few simple strategies that are followed by large, successful corporations.  If you're thinking of opening your own small business, or already own one, try these tips to help you grow your business in the right direction.


Management


Whether you're a one-man operation or a small group, effective management is essential for success. For the single-person operation, make sure you manage your time, efforts, resources and relationships with clients well. If you have a few employees, be certain that you are managing them to the best of their ability – ensuring you have people with the right skills for the job, making certain their talents are being used to your best benefit, and keeping an eye on how their time is being used. If you aren't maximising the time they spend at your offices, you need to reconsider how they work.


Service


No matter how big or small, delivering the best possible customer service is absolutely vital. For a large company, one or two disgruntled customers can be managed, placated, or even written off if there's no pleasing the customer. For a small business, the loss of one or two repeat customers can be disastrous. Define your customer service strategy, make sure you and your client understand what will be delivered, how it will be delivered, and when it will be delivered – then stick to that!


Finances


Especially if you're quite busy, it's easy to let the finances slide. Sure, you may be sending out invoices and getting money in, but is that money being properly managed? Are your bills, taxes and salaries being paid on time and accurately? Is there any way you could be investing some of that money to help it grow? If you have plans to expand and need a business loan from your bank, do you have clear cash-flow projections, income and expenditure analysis? Unless you are a financial whizz-kid and are able to not only do your work, manage your company and keep all the finances perfectly in order, you may need an accountant – even a part-time or freelance one.


Skills transfer


One of the greatest risks with a small company is specialisation. The more niche your product or service, the more difficult it is to find the right people to do the work. And even if you find those people, there's no guarantee they will be around forever and if they leave, they take not only their skills, but everything they've learned with them. This can cause a massive skills shortage for your company. Make sure that all knowledge gained within your company is shared, written down, kept alive, so that it can be passed on and not lost along with a prized employee.


Marketing


Effective marketing is absolutely critical for any small business. If nobody knows you exist, they won't be able to use you – it's really that simple. You don't need to spend millions on that marketing, though. Look at current marketing that works – use social media to its best advantage, be present in your marketplace, keep your brand story alive and active. If you find something that works, use it – just don't use it to death, and don't use just that idea.


Keeping a small business running takes plenty of effort, but it can be done. Use these techniques to help make sure your business works, and you could see your company grow beyond your dreams.

The Affordable Care Act, also referred to as Obamacare, is the Obama administration’s tool to address problems within the existing healthcare sector, making affordable healthcare accessible to more Americans through reducing the cost of insurance. But what is the impact of the Affordable Care Act on small businesses? Consideration must be given to lawful requirements and the penalties for not adhering to them, as well as being aware of help available.

Defining a small business

A small business is defined as one that has 50 or less Full Time Equivalent employees. The ACA states that a FTE Employee works 30 hours a week. As this is not a standard for full time hours, businesses need to have a formula in place to calculate their full time employees taking into consideration that part time workers need to be included in the total. Adding one employee could tip the scales resulting in a small business changing status. Businesses could then face penalties if healthcare is not provided to employees. 

Documentation requirements

The requirements of the Affordable Care Act affect all businesses whether small or large in terms of how health benefits are viewed, provided to employees and reported. Understanding the requirements of the ACA on your business is the most important step towards compliance. Without a clear understanding, you may miss your responsibilities incurring unnecessary fines. Accurate and consistent record keeping, and monitoring of hours worked to ensure employees are classified correctly is essential. Organisations must keep documentation of employee eligibility for healthcare, as well as employee’s awareness of their eligibility. This can be done either through electronic signature receipt or manual distribution of documentation with a signed receipt.

Healthcare Plan Options

As a small business there are options available to offer employees healthcare. The Small Business Health Options Program allows small businesses access to more affordable health plans. Also, businesses with less than 25 FTE employees can apply for tax credits to assist with the cost of providing healthcare for employees. Remember a large business must provide, as a minimum, a Minimum Essential Coverage Plan (MEC) and maximum employee contributions vary in some states.

Benefits of providing healthcare

While small businesses are not liable to fines for not providing healthcare, it is important to consider the benefits of doing so. Providing healthcare can lead to greater employee job satisfaction, increasing staff loyalty, and giving the business a competitive edge for hiring skilled and effective employees.  
 
Who can help?
​
Businesses can employ a qualified consultant to ensure preparations are made. Advice is also available from the National Federation of Independent Business, Small Business Majority and the IRS. 

Supply Chain Risk Management is critical for every business, no matter how small.  In fact, small businesses might have more flexibility in dealing with and predicting risks as their operations are usually less complex. A billion-dollar company asking a supplier for a million parts per week might quickly find themselves out of luck should the supplier experience a failure or disruption.  Small businesses can develop alternative strategies and use their nimbleness to their advantage in the event of a supply chain disruption.
Here are a few ways to manage risk in your supply chain.
Use Multiple Suppliers
Often, businesses will solicit bids from several suppliers, inquiring about x number of parts and selecting the one with the lowest price. This can be great for the bottom line. However, a business might be overlooking the risks they are taking when they rely on one supplier for a certain product. 
Often it might be a better idea to have most of x product to come from the preferred company and a smaller percent, 10-20%, come from another supplier.  This may increase the costs overall, but it will allow more flexibility when things go wrong.
One option this arrangement presents is if the main supplier has a difficulty such as a warehouse fire, your company has an existing contract with another supplier. This other contract could be temporarily increased or renegotiated to ensure the product continues to flow smoothly. This is a much better approach than frantically calling new suppliers when your existing supplier has a disruption.  In that case, the new suppliers might hesitate to work with a new customer or might give unfavorable terms because they know you are desperate. 
Have Contingency Plans
Many companies are only worried about the initial plan and once it is running smoothly they see no need to worry about it again. This can have disastrous consequences when something unexpected happens and the business is not prepared.  Most mistakes happen when the information is limited and time is of the essence.
A more logical approach would be to spend some time thinking about hypothetical contingencies.  The idea is that these will provide a blueprint for figuring out how to react and overcome supply chain interruptions.
For example, your company can go over alternative ways to import products should a natural disaster occur. If you normally ship by boat from manufacturing facilities in China, exploring potential airfreight services would be a useful contingency exercise.  Even establishing a contact with multiple companies can make recovering from a supply chain interruption easier.