Today's marketplace offers opportunities and challenges previously
unimagined. Unfortunately, focus on bottom-line budgetary analysis
can lead to tunnel vision. Driven by fear, you might be tempted to
reduce the quality of your operation, thereby projecting an image of
minimal value. By examining the overall picture, rather than
line-item profitability, you might find adjustments that allow an
appropriate means for balancing premises, staffing, products, and
services against realistic prices and fees. Consider the following
situations.
So how do you want your customers to feel when they approach your
business--especially when you are not present? If you are seeking to
expand your business, you want each person interacting with your
firm to feel warmly and efficiently welcomed. For cost-effective
staffing, examine accessing a school or municipality internship
program. This can enhance your accessibility, while demonstrating
your willingness to support entry-level workers. Finally, always
offer a smile, even when your greeting is by voicemail.
Just as you encourage loyalty from your clients, advertising
representatives should be working to establish and expand a strong
relationship with you. When deciding between multiple advertising
opportunities, reviewing the demographics of your clientele can
highlight how your clients have found you. Scheduling back-to-back
or even overlapping presentations by directory and on-line
advertising companies may help you pinpoint firms that you are
willing and able to pay close attention to your needs and desires.
While annual budgeting is necessary, it is prudent to leave room for
unforeseen opportunities that will require financial adjustments.
Even in today's fiscal environment, you can be visible within your
community. Consider teaming with other businesses to support
non-profit activity you might have sponsored alone in past years.
Encourage repeat patronage with discounts for volume or repeat
purchases. Offer commissions, referral awards or other compensation
to customers, staff and colleagues.
Success in life is based on more than your suit, address, or
financial statement.
Regardless of where you are positioned in today's economy,
you can stand upright and proud for applying
the simplest rule for successful living: