"We'll call you right back," or even worse, "we'll call you back at our earliest convenience."
As a customer, these are some of my least favorite things to hear. My time is valuable. If I have used some of my time to call and inquire about a business, I expect to be able to get an answer during my first phone call.
For many small businesses, payroll is one of the largest expenses. Understandably, when cash flow is short, many owners choose to avoid adding payroll and instead handle a lot of the work themselves. Seems like a great way to save on payroll and make sure that the work is getting done correctly.
However, there are many instances where the opposite is what happens.
Does this sound familiar? You've hired an hourly-employee. You spend a few shifts teaching them the ropes, they seem to get the idea, so you turn them loose and go back to all of your other tasks. After a couple of weeks, your employee is leaving sale opportunities on the table. You're frustrated because you feel like you taught them all these things when they first started.
Have you ever thought about selling your business? Most small business owners have thought about it at least once or twice. Some owners build a business specifically with the thought of selling it eventually. Whether you are looking to sell your business as quickly as possible, or you expect to pass it on to your next of kin, knowing the market value of your brand is a valuable measure of your business.
Growing a successful business is not an easy thing to do. It takes money, talent, passion, skill, commitment and luck. It does not necessarily take them in that order.
Running a business is exhausting. Gaining customers, keeping customers, managing employees, planning for the future, putting out fires...it's no wonder that so few people have the stamina to run a successful business. We all need a little time to rest and relax. Personally, I like to have an hour, just before I sleep, to turn on the television and just let myself zone out from my day.
That hour of zoning out has actually become an hour of inspiration thanks to the selection of engaging shows on television involving small business owners and their struggles for success.
Did I lose you already? "Unlimited commissions? That's crazy." Every industry is a little different, but my industry is very reliant on a strong sales staff. Determining a fair and aggressive commission structure is key to developing a highly effective sales team.
Trust is a key element to a successful business community. Trust between business and customers is necessary for ongoing sales opportunities. Trust between business partners is key to successful ownership. Trust between businesses and vendors is key to maximizing the return on your investment.
Attracting new customers is not free. Want to know how "not free" it is? Here's a simple way to calculate your cost of acquiring new customers...
There's a rule for getting rich: "For every penny you spend, earn more than a penny back." Certainly there are many others, but this one gets to the heart of every good business decision, receiving a positive return on your investment (ROI).