Check out our September newsletter!
BUILD. NOT BILLED.
SM
SEPT 2018
BUI LDING BLOCKS
www.lovelawfirmpllc.com 516-697-4828
A S L EAV E S FA L L , LOOK TO T HE Y EAR AHEAD
Right at the start of a new season — Spring, Summer, Fall — I always think to myself, “You know, this has to be my favorite season.”
Too often, though, businesses cruise into the last quarter of the year, hoping any successes from the first half of the year will carry them into the next one.
There is something about each of these seasons that I adore (except Winter — if I could skip Winter and go right from Fall to Spring, I would, with one night of snow on Christmas Eve). But it’s Fall that really has a special place in my heart. All the wonderful colors, the crispness in the air — you just feel invigorated. Fall is also a time of new beginnings. While trees lose their leaves and the world around us “winds down” as we head toward Winter, there is also a burst of activity. Kids are headed back to school — or starting school for the very first time. Many businesses are looking to the year ahead and planning for what they want to do next.
They aren’t asking the important questions: Do I have the systems in place to hit my end-of-year goals? Have I thought about my end-of-year marketing — or my marketing to kick off next year? Do I know how my employees are doing? Have I thought about bonuses or raises? These are just a few of the questions you need to be asking, but you get the idea. Taking stock of your business in the Fall can set you up for a great new year. It’s all about keeping up the hard work you’ve put in so far. You need to keep up your momentum, if not increase it. In fact, increasing your momentum going into Q4 and Q1 of next year can make a huge difference. Think of your business as if you’re running a marathon. If you slow down during the last quarter of the race, you aren’t going to finish first. You probably won’t even break the top ten. Instead, marathon runners often increase their pace as they head toward the finish line. When they see the end goal, they push even harder than before. They take it to the next level. This is the mindset a lot of business owners need to adopt. You should be ramping up for the months to come and thinking about what you want your business to look like in 2019. That’s another thing — don’t set your business’s New Year’s resolutions on December 31. By the time you ramp things up, it’ll practically be Q2 of 2019. Use this time wisely. As you ask yourself questions, take a look at what worked — and didn’t work — over the past year. What can you replicate? What can you eliminate?
Or at least they should be. Right now, I’m planning out my 2019. It starts by having a great Fall and figuring out how I can end the year on a high note.
CONTINUED ON PAGE 3 ...
516-697-4828 1
MEET JO HARAMIS Successful Entrepreneur and Inspirational Leader
J o Haramis has been a successful entrepreneur for over 40 years. Let that sink in, because only 4 percent of businesses will make it past 10 years in business. Jo has had not one, not two, but three such businesses — including two that are still thriving. One she sold and one that she still leads — Floors, Decors and More. Given her track record, I thought it wise to sit down and talk with her for insight into how to build a great business. Floors, Decors and More opened in 1986 under a different name. Jo is a general contractor, designer, and project coordinator for both residential and commercial buildings. She talks about working with clients and taking them “from studs to stunning.” Other than brand-new construction, she does it all. She opened her business so that anyone — no matter what their budget is — could have access to design and contracting help. To have a vibrant business for 22 years is impressive; it’s even more impressive that it’s in a male-dominated field. I asked Jo what she did to gain credibility with people who might not be expecting her in that role. “I had to prove myself by bringing them repeat business, and when I was asked a question, knowing the right answer. Some of the guys tried to ask me questions to catch me, but when I knew why something would or would not work, they stopped asking. Now I get calls from my vendors all the time asking me questions. I’m called the ‘go-to gal’ by a few, and they want my opinion. “When I was in high school, I was an interior design art student. In college at NY Tech in Westbury, that wasn’t an offering, so I majored in architectural and interior design. Out of college, I joined a national design firm for nine years, and they had a great training program. They would bring in successful professionals with experience in draperies, flooring, sales, and all sorts of topics. I learned as much as I could. When they exited the business, I started my own with clients who were left behind. “To this day, I keep trying to learn. My vendors often have classes about new products and new techniques. I have gone to them all so I can be the most knowledgeable person in the room.”
like my family. If I’m in a store and I see something that will work for a client, even one I’m not currently working with, I will pick it up and drop it off for them. I go above and beyond. I want my clients to feel like they’ve been treated as people. The personal touch is the best thing. And not many people do it.” One of the things I’ve learned from Jo over the three years I’ve known her is how to be better at networking. I asked her how she started networking and what her advice is to be successful in it.
“I had a storefront until 2009. In 2004, one of my vendors told me I needed to start networking. He warned me that the market would crash and I needed to have a network to back me up in bad times. He told me to join my local chamber of commerce, so I joined the Huntington Chamber and started figuring it out. “Soon I realized I could make more money being out networking for the business than paying for a storefront and hoping people would stop in. I closed it as soon as my lease would let me. I’ve never regretted it or looked back. “My top lesson in networking is to not over-network. You could go to five networking events a day and that won’t help you. When I started to network, I went to everything until I found where I belonged. Then I started picking and choosing. I gave up others and stuck with the ones that were in my realm. Typically around August or September of each year, I look at everything I do and decide if I’m staying or going. “I make sure I’m around other experienced networkers. The ones who are real networkers — not just the takers. And certainly not around anyone who just shoves a business card in your face. In networking, I find that the way it works is when I go out of my way to help someone. People don’t believe you would do that for them.” Jo is one of my personal inspirations for my business. She’s built multiple successful businesses and is equally — and more importantly — successful in life. She’s the proud mom of two daughters, “Yaya” (grandmother in Greek) to four, and married to the love of her life for 39 years. Oh, and she has a small flock of chickens, all of which are individually named, which is just cool.
I asked for one secret to her success and she gave me two.
“Of course, you have to know your product, service, the market, costing, and all those things. But beyond that, pay attention to the people who do the front-line work for you — the face of your business. For me, it’s my installers. I make sure I have the right ones who will take care of my clients right. It’s taken me years to get the ones that I have now, but it’s been worth it.
“Second, be persistent. There are slow times and busy times, and you have to keep doing everything even when things are bad or good. My clients become
To contact Jo, email her at jo@floorsdecorsandmore.com or call 631-470-3544. You can check out her website at floorsdecorsandmore.com.
On August 8, I learned that Jerry Rotando, featured in our June 2018 newsletter, had passed away. All of us send our heartfelt condolences to Jerry’s family. He was a devoted husband, father, and friend. I am glad that I was able to work with Jerry and am grateful for all that I learned from him. May his memory be a blessing to all who knew and loved him.
www.lovelawfirmpllc.com 2
Cutest Dog Ever Contest Thanks to all of our participants! It was a very difficult choice! Love goes to Bailey, Bella, Bentley, Dante, Ernie, Windsor, and even Jack the Cat. winners
WINNER - $100 GC FREDDIE Loved by the Jeffry Weldon family
2ND PLACE - $30 GC LINCOLN Loved by the Laura Caulin family
3RD PLACE - $20 GC MAGNOLIA Loved by the Chelsey Nees family
... CONTINUED FROM COVER
For example, let’s say you offer something that’s low margin. You offer it because you thought it made sense, but you hate offering it. It doesn’t do anything for your bottom line and may even waste your time. Get rid of it. Now’s the time to make that kind of change. Or, if you aren’t sure what to get rid of, look at your data. By now, you have about three-fourths of a year’s worth of data. It can inform you what to spend more or less time doing. What’s bringing in the revenue? What’s wasting your time? Now, what do you do if you don’t have this data? Well, that’s when we need to have a conversation. You should be tracking just about everything — conversion rates, time to conversion, referral sources, etc. You also need to know how you’re spending your time (time is immensely valuable). In fact, there is nothing more valuable in your business than your personal time. For myself, I took a hard look at how I was spending my networking hours. I took a look at what brought the most value to my business. One group that I was a part of was bringing in the equivalent of $1.14 an hour. I don’t work for $1.14 an hour, and I doubt you do either. So, I cut the group from my schedule. (I kept up the best relationships from that group, but I certainly didn’t need to go to weekly meetings to do that.)
Of course, life isn’t all about business — at least it shouldn’t be. As I wrap up this edition of the newsletter, let me leave you with this anecdote:
I studied at Smith College in Northampton, Mass. At Smith, they have a Fall tradition. On a beautiful fall morning, often in October, the college president will have all the bells across campus rung. On that day, classes and exams are canceled. If you work on campus, you get the day off. Instead, you go to your dining hall where there are bagged lunches ready for everyone. All you have to do is pick up a lunch and enjoy the Fall day. It’s called “Mountain Day,” and it’s a tradition that goes back to 1877. This Fall, my spouse and I decided that we will give our kids their own Mountain Day. One beautiful morning, we’ll “ring the bells” and our family will get the day off. We’ll pack a picnic and head off to spend the day outdoors somewhere beautiful on Long Island.
So, I encourage you to create your own Mountain Day. Take a day to enjoy life and the people around you! Take in the Fall colors and the crisp air with people you love. And then, plan ahead for what’s next!
You need to quantify your time like this. Time is money, and if you’re not spending your time wisely, the results will speak for themselves.
516-697-4828 3
Isn’t it time you learned to love your lawyer?
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
626 RXR Plaza, Suite 624 Uniondale, NY 11556
516-697-4828 | www.lovelawfirmpllc.com
Is Your Business Ready for the Year Ahead? INSIDE THIS ISSUE 1 2 3 4 Meet Jo Haramis Cutest Dog Contest Winners! Why ‘Overpromise, Underdeliver’ Is Never a Good Strategy
THE PERILS OF THE ‘OVERPROMISE, UNDERDELIVER’ MENTALITY
DON’T SET YOUR TEAM UP FOR FAILURE
While trying
underdeliver in their internal communications. Making promises you can’t keep to employees results in a high turnover rate, low morale, and lack of trust. Recruiting The competitive job market has led to aggressive headhunting for top candidates. But in some cases, aggressive recruiters promise grandiose perks and unsustainable work environments. Just as with a sales client, overpromising and underdelivering is a sure way to set new employees up for failure. When you perpetuate a facade of what your company can actually provide, you open the door for disappointment and regret. The consequences become evident when employees leave or cultivate negativity within your team. So how do you avoid these pitfalls? The best place to start is by bonding the actions of your company and its teams to the values that make your business successful. Another key is to have confidence in the culture of your company. Many leaders succumb to the idea of overpromising and underdelivering out of fear. If you’ve created a dynamic that breeds creativity, accomplishment, and growth, you’ll never have to make promises in the first place.
to woo your next big client,
it can be easy to get caught up in doing whatever it
takes to close a sale. What starts as a simple pitch can quickly turn into promising the moon if you let it. Starting down this slippery slope creates unreasonable expectations and sets your relationship with your prospect up for failure. When you overpromise and underdeliver, you develop a system of dysfunction that fosters lukewarm clients you won’t retain. But lost sales won’t be the only consequence; you’ll also form a culture of dysfunction within your team. Retention Employee retention should be at the top of every business owner’s mind. Depending on your industry, a new hire can cost thousands — even tens of thousands — of dollars. In light of today’s strong economy and low unemployment rate, many large businesses have shifted their hiring strategies to poach talent from small companies. This threat of losing employees causes many small-business owners to overpromise and
4
www.lovelawfirmpllc.com
Page 1 Page 2 Page 3 Page 4Made with FlippingBook Learn more on our blog