SHOULD LOCATION MATTER

Your business would at some point in time or the other have to decide on where it is to be located. This decision is exciting and could equally be frustrating, given the implications it can wield on your business, in terms of convenience and costs. Definitely, an entrepreneur would have to consider a plethora of factors and map out the right factors that would facilitate growth of the firm.

Significantly, an entrepreneur has to develop an understanding of the various needs of all stakeholders in the business. These stakeholders primarily include staff and employees, customers and support services. The purpose of understanding these is to ensure that you operate in line with prevailing conditions. Your employees want to be sure they can have access to you at all times and your staff must not be stretched beyond limits to report to work. Essentially, you must understand that operating where support services for training and specialist consult services exist is fundamental to the development of your staff as it translates into overall success for your firm.

Another element you may erroneously dismiss is what impacts the location of your competitors, relative yours would have on the strides your business would make. Competition drives excellence. While you may want to maintain some proximity to your competitors in order to fancy your chances of knowing what strategies they are adopting and what new solutions are emerging, it is still important to draw into perspective, all other conditions that may place you at a disadvantage in this regard.

Location thus matters. Talk to us at KCC and we would guide you through what solutions are most relevant for your business. Talk to us today. Click here

 

Image Credit: Google Images

AN ENTERPRISE OF MERIT

A business must identify a unique value point in order to thrive. It is a very common thing to see lots of businesses under different brand names doing the same thing, under same conditions, making same mistakes and earning same returns. This repeat of value across board means a multiplicity of resources and efforts without a considerable utilization of skill, intelligence, creativity and innovations. If this situation does not create boredom within the industrial space, it causes complacency and kills the zeal for improvement. The reasons for which your business must meritoriously stand out are obvious and plain. It is up to any business to discover what practices would produce this desired result and consequently commit resources towards achieving it. We share a couple of these today.

GIVE YOUR CUSTOMER A KING’S RIDE

You have probably heard already, that the customer is right. You should never really want to question this. If ever you are motivated to insist on your stands against a customer’s goodwill, shut down and operate a court system; business is not what you should do. It is essential for you to give your customer a service that cannot be copied or emulated by your competitor. If at any point in time, there is customer dissatisfaction, be prepared to review your methods and regain your customer. It is the key to ensuring you are standing out in the industry and maintaining a lead over all others. The merits cannot be overemphasized enough. Create the conditions that would put you in the minds of your customers at all times and delight yourself with their respective and individual progresses. Send goodwill messages to them on their birthdays and don’t forget to create bonuses in your dealings with them. You would be amazed at the returns these seeming insignificant thoughts would have on your company.

GIVE HONEST ADMISSIONS OF YOUR PRODUCTS AND/OR SERVICES

It is commonplace to see businesses try to create perfect images of themselves at all times. A business can go to the extent of lying about its own products, create unsolicited fantasies about the service, build tremendous faiths and confidence in the eyes of customers and expose their huge defects and insufficiencies. Otherwise, a business would fail woefully to keep the schedules it sets with a customer and offer to provide justifications for it. The truth is there is no better policy that should guide a business than honesty. It should not have to compete or compromise with any other policy in your organizational structure at any point in time. Identify the gaps in your own delivery and take responsibility for it. There is nothing more upsetting than to be found telling lies by your customer. It weakens the confidence with which they operate with you and can degenerate into major scandals that would affect the lifetime existence of your company. Tell the truth about your products, offer just what you have advertised and create an impression on your customer that is solid and good as gold.

ENGAGE YOUR PRODUCTS

This isn’t conventional and probably isn’t your GoTo tip for being efficient and meritorious in your operations. Nevertheless, it is the one sure way you can be sure you are giving services or products you would have bought yourself. The principle is this; would you purchase what you are selling if the reverse was true and you were the customer? If you must think twice about this, then quickly review your sales method and most importantly, review the product you are offering for sale. Something might be wrong somewhere. You should have absolute confidence about what you are selling and trust the product to be a complete marketing tool in itself. It is the only way you can be sure you are doing something right and positive.

Identify what works for your organization and make the best of it. You would be beating competition while finding motivation to do what you love to do best.  Click here to lean more of how to develop your business with services that work.

Photo Credit: Google Images

IN THE EYES OF A CUSTOMER

This is a hypothetical interview conducted with a customer. It is intended to provide first-hand insight into the needs and basic expectations of a customer in order to guide the provision of services. This interview is structured in a generic sense and would prove useful for any startup.

P.S. It is assumed that the basic courtesies have already been exchanged. The interview commences with the main issues brought into perspective.

Interviewer: Why would you buy from a company?

Customer: I usually would buy the things I need from any company, depending on whether it is located close to me or not. In other words, I am more determined to prevent extra costs that may arise from having to transport the commodity or service across a long distance. Nevertheless, I am bound to remain loyal to a company if it affords me the best service, compared to many others who are selling the same thing.

Interviewer: What is the one thing that drives your loyalty?

Customer: I am bound to be loyal to a company that does not only sell to me, but meets my welfare needs. I don’t only need a place to buy from, I need a place that thinks about me as well.

Interviewer: For you, where does your interaction with a company begin and end?

Customer: I should expect a company to reach me through advertisements, by any means possible. If it is a company that does not offer me extra value other than what is sold across board, my interaction with them is as good as dead after I make the exit. If the opposite happens, my interaction with that company has no ends.

Interviewer: What would you call value addition?

Customer: I believe every company exists to solve a particular problem. For me, value addition arises in the Unique Sales Proposition the company adopts. This USP must have me as the focus and should make it impossible for me to not return

Interviewer: Would you consider it necessary for a company to know why you are buying their service or product?

Customer: Absolutely! It is the only condition upon which I would be sure the product or service is cut out to meet my specific need. Otherwise, I may just be fixing square pegs in round holes.

Interviewer: How do you suppose a company would know why you are buying the things you are purchasing at a particular time?

Customer: By communicating with me. The company should talk to me about my needs and communicate the value addition I am getting from their service. By this, they would be in the position to understand why I am making a particular purchase and would be better placed to tailor it to my demand.

Interviewer: Given that you are already buying from someone, what would you want the relationship between the two differing companies to be like?

Customer: Ordinarily, I would expect there should be some competition. It is the only way I would know they are striving to be the best at meeting my needs. In a more definite sense however, I expect they would know where I get my deepest satisfaction from.

Interviewer: is it necessary for a company to know how much money you have to spend?

Customer: In a strict view, yes. But in a stricter view, absolutely yes! The company must be able to predict my purchasing power and spending ability so that there is no embarrassment of the demand and supply chain. What better way to ensure utility of production and purchase than wield some knowledge of how much I can really spend on an item.

Interviewer: What drives your opinion of a company?

Customer: I don’t form an opinion of a company in isolation. It would always arise from a summary of whatever experiences I suffer at their hand.

Interviewer: What is the best gift you would give a company that treats you well?

Customer: My absolute loyalty. My loyalty means I not only buy from you but give people reason to buy from you as well. My recommendations and referrals to family would never cease when a company treats me right.

Interviewer: I thank you for your time.

Customer: It is a pleasure.

 

Photo Credit: Sustainable Farming Conference’ 17.

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