7 Ways for Any Business to Remain Viable and Profitable

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7 Ways for Any Business to Remain Viable and Profitable

Do you know what’s important for the success of a small business? I believe that it is: Knowledge, Skills and Talent. But I know that many of your competitors also have the same traits.

The key to remaining viable and profitable must also include ATTITUDE and the following 7 Ways for Any Business to Remain Viable and Profitable.

1.Client Benefits: You and your clients must clearly understand the benefits that your products and services provide. Most buying decisions are based on the client’s perception of what you offer. Remember, clients buy benefits and value-add not features.

2.Extra Value: Clients must receive more in value than you charge for your products and/or services. Most people don’t want a ‘fair’ exchange; they want a bargain… the sense that they got extra value for their money is the key.

Value is providing extra services or additional products – value is not in customer service (customer service is a part of doing business).

3.Extraordinary Service: This means attention to every detail including answering the phone on the first or second ring, providing an 800 number and having the ability for your clients to talk to a live person – not just to leave a message.

Providing extraordinary client service should always first. The service must include an ‘experience’ for the client. In today’s marketplace, it is always about the experience, the solution or the outcome.

4.Know your Audience: Every business owner/entrepreneur must know their audience. You must take the time to identify and create your Ideal Client Profile.

5.Innovation: New is always good, but ‘newer’ is always better. Clients expect the benefits of today’s technology. At minimum, they expect the convenience of e-mail, voice mail, text and contact with a live person.

If there is a faster, better or more reliable way to do it, then adopt leading-edge technologies before your competition does. Always go one step above the competition.

6.Reliability: Clients assume they can rely on your products and services when they make a purchase. But when they purchase your time and expertise, they can only rely on your availability, your advice, your attention to detail and your follow-through. You must be there for your clients every single time they have a need.

7.Communication: This means instant two-way communication with your team at every level. It also includes communication with vendors, suppliers, competitors, collaborative partners and strategic alliances.

Have an “open door” policy; listening is more important than speaking.

Remember, in the competitive marketplace Knowledge, Skills, Talent and ATTITUDE builds the infrastructure for business success.

WHAT I RECOMMEND:

  1. Continue to perfect your leadership skills!
  2. Activate your Growth, Success. Acceleration.
  3. Remember for career and businesswomen, it’s always about RUDResults U Differentiation.

 

© Dr. Laureen Wishom or Dr. Laureen International (2013-2018). Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Dr. Laureen Wishom/Dr. Laureen International with appropriate and specific direction to the original content.

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