Business Tips by Chris Reich

It is impossible to make accurate projections based on past results. This is especially true today when one considers the fragility of the economy. Energy costs will not not go back to 2005 levels. Expensive gas is here to stay. The housing situation is very bad....

New York, July 3, 2008.The former chief executive of Refco Inc. was sentenced Thursday to 16 years in prison for a financial cover-up that brought down one of the world's largest commodities brokerages.Phillip Bennett, 59, a British citizen living in Gladstone, N.J.,...

When things go wrong, what's the cause?We're wired to ask that question. The problem is, we're also wired to arrive at the wrong answer. Why are gas prices so high? Obviously, the oil companies are screwing us. Why is the economy in a down turn? High gas prices and...

I hate entrepreneur magazines. I hate business success stories.  I hate stories about some sixteen year old who made $500,000 selling used comic books online. Those stories can ruin you. Can you get good ideas from reading that stuff? Probably not. Here's why: Luck...

Advertising is the fastest way to burn money.Mail packets don't work.Post cards don't work.Telemarketing doesn't work.TV doesn't work.Print Ads don't work.Radio Ads don't work.Email blitzing doesn't work.None of these methods of advertising will produce sales for your...

The way out may be narrow but it's easier than enlarging the opening.When times get tough as they are now, rather than trying to expand your market, have you thought about reducing it? If you can appeal to a small segment of your market with something remarkable, you...

Your organization is a talent pool. Do you utilize it?Most managers sincerely believe they are open minded and willing to accept suggestions or new ideas from employees. I hear often about open door policies and freedom to speak freely at meetings. But the devil is in...

The problem is not too many meetings.Most meetings are not productive relative to the time spent meeting. People believe they could be getting more done with the time consumed by meetings. This is generally true. But that's because you don't have enough meetings.I...

Here we have the common business wildebeest.Ever watch one of those nature shows where the lions creep up slowly and nail a wildebeest from a herd of thousands clustered around a mud hole? The wildebeests remind me of most businesses.The wildebeest will hang around...

Who is this woman?If you don't recognize her, you're in big trouble.She's your customer. She doesn't just buy laundry soap and convenience meals. Not any more. She may not even care if her toilet bowl is springtime fresh. She's probably never used Pinesol.She buys...

Build morale by providing excellent customer service.Spend some training time. Remind your people about what great service means. Teach them to go that extra bit for your customers.This is good for business and good for morale. When customers start commenting about...

Are we that afraid of change?This country has had poor leadership for 20 years. Look where we are now. Stuck in a very stupid war on terrorism with our border wide open. Just how dumb is that?Our economy is slowing to a halt and the dollar is dropping to record lows...

A penny for your thoughts?That makes a nice phrase but in reality, free is better.I recently read about the power of free. If you want the full version, the book is called "Predictably Irrational" by Dan Ariely. I highly recommend it.Dan ran a little experiment to...

What is the difference between your business and your competition?All businesses claim to be better. All claim to provide better service. All claim better quality. Even though it's not possible, most claim to have the lowest prices. (There can only be one 'lowest')If...