To your business success

1 02 2012

“Success on any major scale requires you to accept responsibility …In the final analysis, the one quality that all successful people have   is the ability to take on responsibility.” – Michael Korda

Striving for Business Success

Two weeks ago, we discussed the meaning and definition of success.  This week we will continue the discussion of success along with responsibility, and what you need to do to attain success in your business.

As indicated in Michael Korda’s quote at the beginning of this post, successful people always seem to have the ability to take on responsibility.  To be successful, you have to be responsible; that once you start a business, it is your responsibility to yourself, your employees and your customers to keep that business going.  You are responsible for the proper development of a business plan, correctly marketing your products, and taking care of your customers.  If you have a product or service that your customers absolutely love (and what business doesn’t have a product or service that customers love?), it is your responsibility to continue to provide those customers with those products and services that they have come to depend on.

Ultimately, if you do not feel responsible for your customers, your business will inevitably suffer.  The old adage, “the customer is king”, still holds true even in this electronic day and age.  If you alienate your customers, they will not purchase your products however good they may be, nor will your customers utilize your services.  It is your responsibility to listen to what your customers wants and needs are and then to take that knowledge and assist those same customers.

By listening well to your customers, you will learn where and how to increase the sales of your business, and subsequently make your business more successful.  But growing sales does not necessarily guarantee business success.  You are still responsible for keeping track of the additional costs involved in increased sales.  It is your responsibility to grow your business in a manner where it becomes more profitable, not less profitable.  There are some so-called business people out there that believe just because their sales are up, their business is growing and succeeding.  That may not even be close to the truth.  As a business owner, it is your responsibility to not only understand what it is you offer to your customers, but it is your responsibility to understand what it means to be profitable.

Just because sales may increase, you need keep a close watch for extra costs not associated with the increased sales.  If you are in a business that allows customers to purchase on credit, this is a huge area that can really damage your profitability.   Great, your sales are up, and your customer credit is also up.  Now, how are you planning on paying your bills if your customers have not paid their bills to you?  It is your responsibility to both yourself, and your business to understand the dynamics of the whole business.   What may also come with an increase in sales is an increase in staffing costs.  You need to be sure that the additional costs you are bringing on do not outweigh the increased sales.  You need to act responsibly with regards to increased sales because your ultimate goal is to have more money going into your bank account than out of your bank account.

It is your business responsibility to increase your business bank account month over month.  By doing that, you are insuring your business success.

If you are looking for an additional income stream to supplement what you currently have, take a look at our website, we may have something that would compliment what you are currently working on or inspire you towards new goals.

“Success is peace of mind in knowing you did your best.” – John Wooden

Effective Communication can mean Business Success

10 05 2011

This week we are going to discuss a topic that is near and dear to many, if not all people in business – communication.  How many times in your business career have you heard the battle cry, we need better communication?  How many times have you heard companies espousing the benefits of communication?

As we all know from personal and business experience, if we don’t communicate effectively, we cannot succeed in what we wish to accomplish.  If your customers cannot effectively communicate their desire for a particular product or service, how can you as a business person satisfy their needs?  On the flip-side, how can you as a business let your customers know that you may have what they need if you cannot communicate your information clearly?  Effective communication can mean business success.  If you cannot convey your message to your target audience, how long do you think your business will succeed?

Communication is a two-way street.  In order to inform and educate, you need to also be very well versed in the art of listening.  You need to not just hear; but to listen to what your customers are talking about and what they are looking for.  If you listen to what they ask, you may also be able to identify what they are truly looking for in a solution to their problem.

Once you have mastered the art of listening, you now need the ability to effectively communicate with your customers.   This may sound like a simplistic view, but even if you understand what your customer’s needs and wants are, if you cannot communicate back to that same customer the information that you have to offer, you are not successful in communication.

How frustrated are you when you call into a customer service center and have to explain and repeat your situation several times before you are put in touch with someone who MAY be able to assist you?  If you were that business, you need to look at this scenario and determine how you can better communicate between customer service representatives so that your customer does not have to repeat their problem a half a dozen times before they get to the person who can solve their concern.  Effective communication within a customer service center is key to a successful business.

If you were able to locate a company that would listen to your concerns, desires, and needs and would then relay that information accurately to the correct person, wouldn’t you continue to do business with that company?  Taking it a little farther, wouldn’t you want to tell the world about how wonderful that particular company’s service was for you?  Think of how quickly your business would grow with this type of word-of-mouth advertising.  Again, effective communication can most likely business success.

Find a way in your organization to improve the communication flow between departments or between your sales staff.  If one sales person has assisted a customer, be sure that sales person relays that information so when the customer comes back, they do not NEED to talk to one particular person, any of the qualified sales staff can be just as effective.  If a customer has a problem and one person takes that call, be sure that information is effectively communicated to all who may be involved so when or if the customer calls in again, whoever does take the call will be able to respond properly without requiring your customer to tell their story all over again.

By honestly keeping the lines of communication open within your organization or business, you will find that your company will grow faster and be able to respond better to customers.  Information is power, but information kept with one person and one person only can seriously cripple an organization.  Open the lines of communication and you will not only find customers to be happier, but your staff will be more willing to assist others within and without your organization.  Effective communication is a critical component of business success.

Until next week…