Business Spring Cleaning Time

Program Management words of wisdom:
" If everything seems to be going well, you obviously don't know what's going on"- Edward Murphy.

Points to ponder
1. Helping a prospect solve a business problem creates a "win-win" relationship and closes more sales than you think.

2. Remember – nothing adds more to your credibility than a referral from a satisfied prospect.

3. Selling is a numbers game, and you need to learn your "selling ratios."
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You may call it's Spring Cleaning Time or time for an annual checkup, our business needs to undergo a reality checkup each year. No matter how large or small our business is, we cannot gauge the effectiveness of any changes we've made without analyzing the benefits and bottom line.

Here are 10 questions to get started:

* How do your year-to-date sales compare to the last couple of years?
Don't be satisfied if you managed to match them because if sales stayed the same then you've achieved zero growth. With inflation, this flat growth line is a warning sign for more trouble down the road.

* What percentage of your business is from repeat customers?
This is important to know because if it's too low, then it needs to be improved. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.

* How long has it been since you offered a new product or service?
Loyal customers like to see you innovate, changing and progressing with the times for cost down and quality improvement. If you're stuck for an idea, ask your customers what they need.

* Do you consider marketing and advertising expenses or investments?
How you look at the money spent in these areas affects your willingness to spend money at all. Would you look at marketing as a waste of money? Marketing is really investing in your business, your vision, and your company. The old adage that you must spend money to make money is true, but you must spend it wisely. Spend it on sales promotion that are pulling responses and orders, and if they're not maybe you need to change methods.

* Do you know what Public Relation is and how to use it to positively position your business in the media?
I'll bet that at least one of your competitors does. Nearly every company or business in the newspapers and magazines is a direct result of publicity efforts. Being quoted or featured in an article speaks volumes to your clients and readers who are your potential prospects. A good PR consultant can do that for you and show you ways to extend the shelf life of that article beyond its
publication.

* Are you listed in the web listing? If you only have a line listing, consider including a small ad in the web pages. If you can afford it, it will pay dividends throughout the year.

* Do you treat your regular customers better than your drop-ins?
You should. If your customers don't feel special when coming to you for products of services, why should they remain loyal to you? Have a customer VIP treatment when when they visit your company or a special invitation to visit you (they loves to travel too!). Send occasional post cards or greeting cards for special events or just to keep in touch. Learn to recognize them on sight and greet them by name when they visit you. You may take photos of them and write their names on it if have problems recalling names or have a large name card on the table where they sit.

* How long has it been since you really talked to other staffs of your customers?
Just as you appreciate when your Doctor takes time to talk to you, your customers will appreciate you if you take an interest in their needs. If you have a service business, have lunch or coffee periodically with some regulars – even if they only contact you once or twice a year. The personal touch in an impersonal world will be remembered.

* How is your business doing compared to your competition?
Every company, no matter what the size, has competition – even home-based businesses. Is their business growing or downsizing? Is their pricing or service better than yours? If so, what can
you tell potential customers about the price difference? Think about how you can improve your service to meet or exceed your customer's expectations.

* Are your employees happy?
Don't ask them directly, but observe them throughout the day. Watch, listen and learn.
Employees who like their jobs don't watch the clock for quitting time, aren't habitually late, don't have poor body language, don't spend time on personal phone calls, and don't look like they never smiled. Observe how they interact with customers. Not everyone is a match for direct contact with
the public, so make sure you don't have an employee who is driving business away!

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Kacak5 Management