Properly pricing your products and services is vital to business profitability. Avoid competing solely on price—focus instead on value, unique product identification, and strategic service agreements. Accurately accounting for costs such as technician time, travel expenses, and overhead ensures sustainable profits while attracting loyal customers who value quality service.

Choosing the right company vehicles is essential for on-site service businesses. From deciding between new or used vans to setting clear usage policies and maintenance routines, smart decisions ensure safety, efficiency, and professionalism. Explore how Wright Your Business can guide you in building a strong, reliable vehicle strategy for success.

Owning your business space builds long-term stability and equity. Start by renting with short-term leases, then transition to ownership once profitable. Choose a central, safe location, and consider future growth. Property ownership offers income potential, avoids costly moves, and strengthens your investment portfolio over time.

Keep your eyes and ears open to ensure your business stays viable and grows. Be curious—observe, ask questions, and listen. Engage with employees daily, walk through your business, and address inefficiencies. By staying involved, you’ll avoid surprises and create a workplace where productivity and communication thrive.

Success in business depends on relationships—with employees, vendors, and customers. Perfection is unrealistic; instead, focus on fostering trust and open communication. Get to know your team, respect your vendors, and set realistic expectations. Strong connections create a thriving business, proving that perfect is the enemy of good.

Developing a five-year plan and a fifteen-year vision is crucial for business longevity. Regularly assessing your company's direction helps navigate obstacles and adapt to change. Stay inquisitive, plan strategically, and remember—don’t put all your eggs in one basket.

Having a clear five-year plan is essential for business growth, but staying flexible is key as technology evolves rapidly. Equally important is envisioning where your company will be in fifteen years. Stay informed, adapt, and innovate to meet customer needs. Success comes from planning, adjusting, and staying ahead of industry trends.

One of the best pieces of business advice I ever received was: “Collect your money!” Strong cash flow is essential for success. Run credit checks, request deposits, bill immediately, and follow up promptly. If payments lag, escalate collection efforts. Protect your business by ensuring you get paid—on time, every time.

Successful businesses focus on attracting the right customers. Avoid price-only buyers who drain profits and prestige buyers who may overlook small businesses. Instead, target the 80% who value quality and service. Define your market, commit to a service area, and sell with confidence—your success depends on prioritizing the right prospects.

Hiring the right employee goes beyond qualifications—it’s about finding the best fit for your business. Focus on employment history, interview preparation, and commitment. A structured onboarding process, clear expectations, and proper training ensure long-term success. The right hiring approach fosters loyalty, reduces turnover, and strengthens your small business.

Finding good employees is one of the biggest challenges for small businesses. Success starts with clarity about what you need and realistic expectations. Beyond job ads, incentivize current staff to refer candidates and always stay observant—great hires can appear in unexpected places. A proactive approach builds teams that thrive.

Starting a small business is challenging, but avoiding pitfalls like discussing politics or religion with customers can make a big difference. Focus on building relationships, targeting the right prospects, and crafting strategies to grow your business. Small actions and thoughtful decisions pave the way for long-term success. Stay focused, stay professional!

Small businesses face high failure rates due to factors like insufficient market research, capital, poor management, competition, and adaptability challenges. Only two of these are beyond your control, highlighting the importance of strategic planning. With over 50 years of experience, I offer insights and guidance to navigate these challenges, helping your business thrive in a competitive market.

Sometimes, less truly is more. Reflecting on lessons from my career, I realized the value of prioritizing family, simplifying business operations, and reducing unnecessary travel. By focusing on what matters most, I achieved greater efficiency and fulfillment. Discover how these principles can transform your business in our weekly blog insights.

The new year is a time for reflection and growth, offering a unique chance to evaluate the past and plan for future success. As a business owner, ask yourself: Did you meet your goals for revenue and profit? If not, identify the reasons using tools like the “Is-It Approach” to uncover root causes and actionable solutions. With focused analysis and a clear plan, 2025 can become your best year yet. Set aside dedicated time to reflect, strategize, and embrace opportunities for improvement. Success starts with honest evaluation and a commitment to doing better. Make this your year to thrive!