Why Great Customers are so important You’ve heard of the Pareto Principle. Applied here, we can say that 20% of your customers bring you 80% of your revenue. For that matter, 20% of your customers cost you 80% of your marketing and service budget. And they are rarely the same customers. What if you […]Continue Reading... Comments Off on Stop Struggling: Get Great Customers
The business environment is changing and if you have been in business for more than 5 or 10 years, you, like everyone else, are making less profit for more effort. It’s been slow and insidious. Think about small business owners 20, 30 and 40 years ago. They built our communities, made a great living and […]Continue Reading... Comments Off on The Three Common Myths that keep small business owners struggling more and more for less and less profit
What is the best way to increase revenue There are 3 ways to increase revenue:(1)sell more things, (2)more often, to (3)more customers. Two out of three of those are about your existing customers. Small Business Owners tend to jump straight to advertising when they want to make more money, but that is the expensive route. […]Continue Reading... Comments Off on Great Customers Means a Great Business – FAQs
In many ways our customers are like us. Like attracts like, right? Having said that, what we think our customers think is important, might not be what is really important to them. Even deeper, many people think they want what they are told they want so it might not even be what they want, it’s […]Continue Reading... 2 Comments.
A Successful business is built around making customers ecstatic. Why ecstatic? Because ecstatic customers make your life easier. They engage with you, they help you help them. They pay well and gladly. Most importantly, they tell others. How do you define ecstatic? Start by thinking about times you felt ecstatic yourself? What was […]Continue Reading... Comments Off on Ecstatic Customers make your Business Better
It comes down to 4 things: KNOWN You know where you are and where you are going. You know how to do what you want to do. You know when to ask for help and from whom. You know your why. Your Business Model is clear. You have policies and procedures in place that everyone […]Continue Reading... 1 Comment.
It’s election time, here in Canada and the interest groups are out. As I was walking to my office, I met a group of Pro-Lifers coming the other way. Now I’m a feminist and I believe that a woman should have reproductive choice, but I believe that abortion should be the strategy of last choice […]Continue Reading... 1 Comment.
Your customers should be able to expect that you fulfill your promise of doing your business competently. That includes having the best products you can find, reasonable pricing, good customer service, fast, reliable, cheerful, careful, complete etc, etc. It’s only if you go a step beyond, to something that your competitors don’t do that you […]Continue Reading... Comments Off on Minimum Standard is Not a Brand
Brands: as in who people think you are, rather than who you think they should think you are. These days of transparency it is who you are authentically that matters. There I used all the rhetoric words for brand. Despite the over-used words, the concept holds. Brands used to be what the marketing department wanted […]Continue Reading... 3 Comments.
The term economics refers to the study of the movement of money at the population level. Economics looks at the aggregate of all the grocery shopping (for instance) by everyone and makes inferences and predictions based on how much, how often or how little we spend as a group. What does that have to do […]Continue Reading... Comments Off on Economics and Small business