After all this time, it is still pretty tough to be a small business startup nowadays, but I know there are people out there who have not only survived, but are flourishing! If you had to pick one item from your "bag of tricks" for survival in this economy, what would it be? I have talked with a few "survivors" and 'thrivers" and everyone has a unique trick to producing profits in tough times - mine has been absolute doggedness and persistence to the customer to ensure their satisfaction, then when they are singing your praises at some point, ask for the referral, right then, what can they do?! But, let's hear yours...
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I would say this is the most important aspect for any business and any time. Know your niche customer base, understand their needs. and try to provide best possible value by going beyond their expectations and with lower than their expected price. This is the key to the success at all times, in tough economic situations.. it is more important. |
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Get to revenue AS FAST AS YOU CAN. Nothing kills morale, progress, etc as fast as doing all that work and not seeing money coming in. Money troubles add more stress and issues (to an already stressful workplace) |
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My answer is: focus, focus, focus. What does your customer really want? Get down to the final, final goal of your customer and then take responsibility for delivering that. This is why some quality auto manufacturers offer free service packages with their new cars. I don't want a car, I want a reliable way to get to work. For it to be a reliable ride, it has to stay in good working order. They take responsibility not just to sell me a car but to make sure that the car keeps delivering what I really want: reliable transportation. The companies that survive own the end thing that the customer wants from their product or service. My kids used to have the chore to clean the kitchen after dinner. One night I noticed that the kitchen table was dirty after they were done. Their excuse? "We cleaned the table!" My response? "The objective was not to clean the table, it was to get the table clean!" If you take ownership of "getting the table clean" for you customer, you stand a much better chance in a down economy. And since many of your competitors are only focused on "cleaning the table", you will have the best shot and surviving and thriving. |
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Our "trick" has been to reccommit to customer service with our existing customers. Why?
We have expanded the use of our CRM to ensure it focuses on existing customers as much as it did on leads and prospects. This has included the development of communication triggers to make sure no one slips through the cracks and that everyone has regular personalized communication with our team. |
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