Business

Professional speaking is, quite simply, the business of speaking. A professional speaker is not necessarily any better than a public speaker — it's just that a professional speaker is speaking as a business activity.

These Savvies explore the topic of Business in more detail —

Pro Speaker U

Before we continue, let’s consider inventory for a moment. Just what is “inventory”? For our purposes, it’s simply the stacks or boxes of your products that you’ve printed, recorded, or burned… but you haven’t sold yet. But how you feel about inventory is more complex.

Pro Speaker U

Now let’s go back to the idea of "twofers" and pursue that line of thought a little further. If selling two-for-one can be advantageous (and even profitable), what about three-for-one — “buy one, get two free”? This obviously can’t work, can it?

Pro Speaker U

So far, you’ve been looking at the transactions from your (the seller’s) point of view. What about your customers? What do they think?

Pro Speaker U

So far, we’ve been considering product sales, but running the numbers applies to many other areas of your business as well.

Pro Speaker U

Now it’s fine to say “run the numbers!” But what do you do when you don’t have any numbers to run? What if you don’t know how your customers will respond to your offer? What if you don’t know how many widgets you’re going to sell?

Pro Speaker U

First, if you do have the numbers, use them.

Pro Speaker U

If you don’t have (or can’t get) reliable numbers, then you need to perform an estimate. Simply put, an estimate is where you develop new numbers from other numbers.

Pro Speaker U

Of course, sometimes you can’t even develop an estimate. In that case, you need to guess! (Sometimes called a “guesstimate” — making a guesstimate sounds more reliable, but it’s still a guess.)

Pro Speaker U

So here are your guidelines for acquiring your “numbers” —

Pro Speaker U

One of our first examples of “running the numbers” had, as one of its factors, the production cost of a CD. It probably doesn’t surprise you that the cost of production is important; but it may surprise you that, once again, the “obvious” answer can be the wrong one.

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