Everywhere we look these days, you will notice an empty building where just yesterday a flourishing business stood, one whose lights were on 12 -18 hours a day just a few months ago, one whose parking lot was filled with cars-especially when you needed a parking spot, one whose phone lines rang so often that you could never get through and once you did, you were on hold forever. So what is wrong with this picture?? Well, first of all, it is a fallacy.
Over the many years I have continued to run a flourishing business,and noticed a pattern of those who make it, and those who do not. And the answer is simple. First of all, one of the easiest ways to close your doors forever, is to make yourself and your business unavailable to your public's demands. A business that opens at 10:00 AM and closes at 4:00 PM is asking for an early demise. In today's times it is so important to keep your doors open! When 7-11 stores first opened, their greatest feature was that they opened at 7:00 AM, and closed at 11:00 PM. They were so proud to announce these extended hours. Today most of them are open 24/7 and so often I have joked with my local 7-11 merchant that they should change their name to reflect that. But a true lesson can be had here- THEY ARE SUCCESSFUL - THEY KEEP THEIR DOORS OPEN. To assist You with YOUR success I have compiled a list of Pointers for the smart business owner to use as a guideline.
- EXTEND YOUR BUSINESS HOURS - Remember Many Households Include 2 working Adults and may not have the opportunity to purchase your services and or products while THEY are working.
- OFFER CUSTOMER INCENTIVES - Everyone likes to feel good about their purchase. In today's times most shoppers will compare prices. True, You may have to reduce your profit per sale, but you can make it up in quantity of sales!
- TRAIN YOUR EMPLOYEES - Shoppers whether by phone or in person like to feel important. Take the time to sit with your employees and put them through an "In House" charm school. Role play with them. Make Sure that they are offering your customers and prospective customers extraordinary care and respect. Teach them to be articulate and well informed on what your business has to offer. Encourage a tidy appearance and a dress code conducive to your business. Your customers will appreciate a higher level of overall employee appearance and feel respected.
- OFFER EMPLOYEE INCENTIVES - Remember to praise and thank your employees for a job well done. If capital allows, offer monetary incentives for a job well done. It doesn't have to be much, but recognition will reap the greatest rewards to grow your business.
- EXPAND YOUR PRODUCTS AND/OR SERVICES - Take note of what products or services you now offer. When a customer requests something that you do not have, keep note of it and see how often it is requested. Investigate and see what your competitors are offering and make sure you are in the game. Perhaps offer something that no one else is offering. It does not have to be a costly product either. It could be something as benign as Customer Support for products, or for example, if you sell bicycles or barbecues, offer putting the purchase together for free!
- MANAGE YOUR MONEY - The root of all successful businesses is the ability to know where you stand with your cash flow. Invest in a simple bookkeeping and accounting program such as QUICKBOOKS. This easy to use program will allow you to enter your bills, pay your bills easily and always know who you owe and how much you owe. You can invoice your customers and always know who owes you! Or simply create a Sales Receipt and record the sale right on the spot. QUICKBOOKS offers an easy way to manage your bank accounts and a simple task to reconcile. There are so many more great easy features, just too many to mention.
- HIRE A BOOKKEEPER OR LEARN HOW TO MAINTAIN YOUR OWN BOOKS - Consider hiring even a part time bookkeeper, or appoint an employee to assist you with your books. You can hire a QUICKBOOKS Pro Advisor for a reasonable rate to assist you with your books, or train you and or your staff, Remember, the first businesses to go down are those who have no clue as to where their finances stand. Call us for more information on our many services and products to help keep your business healthy!