Business Toolbox Archives - Page 3 of 3 - Tire Review Magazine
Organize Your Finances

In business, being constantly busy is good. But often this pace can add to financial disorganization. Get your business’ financial house in order with these easy tips: • Never mix personal and business expenses. • Organize all financial records. Create specific file folders for POs, bills, bank statements, etc. Every financial record that impacts your

Direct Mail Like a Pro

Direct mail can be a lethal weapon in the hunt for new customers or increased revenue – if it’s done right. Because it reaches into a customer’s home or place of business, direct mail almost always gets noticed. Here are a few tricks you can use to keep your direct mailer from hitting the trash

8 Things to Know if You Get a Letter from the IRS

The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be easily dealt with without having to call or visit an IRS office. Here are eight things you should know about if you receive a notice or letter from the IRS: 1. Notices

Avoiding Internal Fraud

Businesses around the world lose roughly 5% of their revenues annually to occupational fraud, according to the Association of Certified Fraud Examiners. To avoid suffering from internal fraud, you must understand its causes: opportunity and need. Opportunity: You should know and trust any employee with direct or indirect access to business finances. At the same

Fighting Crime Before It Happens

Tire dealers aren’t the number one target for theft or other crimes, but that’s not to say an accident can’t happen. Secure your premises and have a solid plan of action to prevent even potential crimes from happening. Tate Boys Tire & Service shops place importance on customer service. The business is well respected, the

B2B Sales: Discussing Price

Some sales people get nervous about having to ask for money from the customer. As a result, they blurt out the price right at the start of the talk, rather than first demonstrating how their products/services will satisfy the customer’s needs. When sales talk involves products or services that save the customer money, direct the

Profitability: 5 + 5 = 50

Don’t think that 5% you just gave away to the customer makes a difference? Think again. If your dealership works on a narrow profit margin, raising prices just 5% will have a tremendous impact on your bottom line. Say your annual gross revenues are $1 million. With a 15% margin, profits are $150,000. Not bad.

Management: This Space for Rent

There is an age-old question for tire dealers to consider: Do I buy or lease? That question extends down from the building itself to the equipment inside. But it’s the building itself that costs the most all around. Tire dealers need room. But should they buy or lease a structure? Sometimes a situation dictates what

Financial: Insurance Checkup

Financial Insurance Checkup  Business insurance is one large fixed cost for any dealer. But periodic reviews of your insurance needs and status can help reign in some of those costs. Insurance is designed to protect you and your business from unexpected disaster, but careful consideration of real costs vs. anticipated costs can help you save

Retail Marketing: Treat Them Smartly

Barnum may have said “There’s a sucker born every minute,” but even he discovered that it doesn’t pay to underestimate the intelligence and buying savvy of the American public. Successful businesses don’t underestimate the American consumer, especially when it comes to high-ticket items. Most retail salespeople agree that their best customers are adept at seeing

Comp/Tech: Keep Your Face Out There

With the speed and freedom afforded by e-mail and Web sites, your employees may become isolated, focusing on the technology instead of the humans on the other end. And your customers may know you only through a Web address or periodic e-mails. Technology has changed the way we do business, but nothing happens in business