Ever wonder what goes through a creditor’s mind when they decide whether or not to give you credit? Creditors, like suppliers, vendors, and bankers who extend credit to you, are a bit anxious and for good reason. They don’t know how you’ll behave when times are tough. They don’t know if you will be a “beg pay” or worse. On the other hand, they want to increase their business with you, so they hope you will succeed… Read More
Timelines Are the Lifelines of Customer Satisfaction
Outside contracted services do things for us that are beyond our skill set or are best done by a specialist. One frustration we, as customers, typically face is not knowing what is expected of us to get the most out of these services.
If you are in a service business, or even a production business, don’t just expect that your customers or clients know what is required of them. Let them know what, when and where they have to… Read More
B2B or Not to Be? That is the Question!
We often hear, “Oh, we’re B2B (business-to-business), so we don’t have to worry about customers at the general public level.” The fact is, you do.
It is an erroneous assumption that B2B is somehow insulated from the source of most income, the general public. If your client goes out of business, your B2B loses that account, and you lose an income source. Of course you need to worry!
The more your company understands… Read More
5 Ways to Increase Your Service Business
In this two part series we are addressing service businesses. Last time we identified a way of classifying your clients and customers. This time we will offer some ways to increase your business.
Your goal is to get more referrals. These are new customers who were sent to you by your existing customers. They will only do that for you if their first experience was beyond their expectations.
How then can you ensure that their… Read More
How to Improve your Service Business
Over half of all businesses are service businesses. These industries include many professions from legal and engineering to hair cutting and plumbing. All these services require excellent management, positive company culture, and most important, return clients.
Brian Tracy says, “If you want to be successful, ask yourself this question: How can I increase my service to my customer today?”
More than any… Read More
A Solid Business Foundation is Necessary for Success
When you build a house, the foundation must be laid strong and straight. If it’s not, the framers try to make up for it. When they can’t, the drywall guys try to make up for it. When they can’t, the painters try to make up for it. When they can’t, you’re going to have to live with it. So rather than cause problems all the way up your structure, lay your foundations straight and true.
It’s been said that it’s not the… Read More
Improve Your Chances of Success by Starting Small and Carefully
As long as your product is not in a specific market or retailer, it can’t be discontinued. Once you are discontinued you may never get back. You’ve got one shot. Take careful aim and hit just one bullseye at a time.
The shotgun approach may get you more distribution in the beginning, but, due to complications and idiosyncrasies in the distribution system, or due to you own underestimations of labor and oversight, your… Read More
Positive Company Culture is critical to Growth and Survival – Part 2
A company survives and grows due to sales and the loyalty of customers and staff. Sales are based on price, value, dependability, integrity, availability and perception. The basis of perception is image, networking, and more recently, the transparency of the producer.
Transparency is what the brand stands for, its authenticity, its identification with higher values, and the actions it takes to demonstrate those… Read More
Making Mistakes Right
Everybody makes mistakes, so why not take advantage of them? If your company culture does not give permission to make mistakes, your staff will hide them.
They’ll want to ‘fix’ it fast and hope you never find out. They may be the only ones who know how to fix it, and they, or someone else, are likely to make the same mistake again. Here are some tips on how to turn mistakes into assets.
1) Give your staff permission to make… Read More
Distribution: The Distance between a Great Product and a Sale – Part 2
The least glamorous but most essential part of making a sale is actually getting your product to your buyer. Many great products are rotting in warehouses somewhere because their designers didn’t take the realities of the distribution system into account. Here are additional questions product producers need to consider:
6. How will you stage your product for shipment? Most products are stacked on a pallet for easy… Read More
