7 tips for a successful small business

7 tips for a successful small business

Discover the secrets to small business success by watching a marathon

Yesterday it was my birthday.  It was also the day of the 2016 London Marathon.  And I should have been running it.  But instead, I was sat on my sofa with tears of disappointment rolling down my cheeks as the race started due to my being injured.

I sat and watched the marathon and during the race it dawned on me the number of similarities between running a marathon and running a business.

Let me share them with you here:

Preparation

Firstly, the preparation.  If you just rock up on the start line of a marathon with no prior preparation, you are going to be in for a big shock and it is highly unlikely that you will make it to the finish.  Remember the old adage, ‘fail to prepare, prepare to fail’.  And it is the same in business.  Before jumping into a new business venture with both feet, you really do need to do some prior preparation to test if your small business idea is viable, find out where there are weak spots and then do something about those weak spots to make them stronger.

Planning

Next comes the planning.  With running a marathon, you are going to need to plan what resources you are going to need such as kit, hydration, training plan etc. and are likely to want to plan what time you want to finish in.  In business, you need to plan the resources you are going to need so that your small business will run efficiently and you also need to plan what you want to achieve over what time period so that you can put steps in place to achieve this.  Without planning, whether running a marathon or a business, you are going to fall by the wayside, particularly if you don’t have the correct resources.  And without a timeline and goal, you will just drift along with no idea if you are on track or not to achieve your best.

Be prepared for the unexpected

It is inevitable at some point that something is going to trip you up and scupper all your long-held plans, quite literally!  In my case, when out on a long training run for the marathon I did exactly that.  I tripped and broke my ankle!  My marathon plans were dashed as there was simply not enough time for the bone to repair and for me to get my training back on track.  Yes, I sat and sulked, got angry and felt sorry for myself.  And then I decided that I would just have to adjust my plans and aim for next year.  In business, we can easily get thrown off track and this can be the critical point of whether you pick yourself up, dust yourself off and get yourself back on track, or whether you simply throw in the towel and give up.  It invariably takes far longer to have a successful small business than we initially hoped, and has far more heartache and tears along the way than we ever could have ever imagined.  But when you finally succeed, there is no other feeling like it.  Just as it feels to cross that marathon line and take your medal.

Support

If you try and train for and then run a marathon alone it is incredibly lonely and the likelihood is that you will lose motivation along the way and give up.  You will make so many mistakes and waste so much time and money that you could have easily avoided with the right advice.  The same goes for running a small business.  You need to find someone that you can discuss your ideas and goals with and who is there to support you when the times are tough.  Those who do best in marathons and business are those who get professional coaches who have been there, done it and have the experience to guide you on the right path and stop you making all too common mistakes.  We all that helping hand if we are truly going to be the best that we can be.

Be aware of unseen opportunities

We may start out on our path with a very clear idea in our mind of what we want to achieve, but we must be careful not to become blind to opportunities that may appear under our noses.  It was heart-breaking this year to see Eliud Kipchoge come across the finish line in first place, achieving his goal, but then looking back at the clock to realise that he had missed the world record by a mere 8 seconds.  The disbelief and despair on his face were palpable.  He had been so focused on his goal of finishing first, that he simply not realised that he could comfortably have taken the world record title by speeding up a few hundred yards earlier at the finish.  In business, yes, you want to keep focused on the end goal but always be open for any other opportunities that may come along to help you succeed even further.

Celebrate achievements

As the marathon runners get given their medal as they cross the finish line, you need to reward yourself for your achievements in business.  Running a successful business is not easy.  If it was, everyone would be doing it.  It is tough.  As with marathon training, there and many highs and many more lows.  With each step forward that you achieve, stop and realise how far you have come and reward yourself for sticking with it and making it work

Know when enough is enough

Whilst I am one for saying never give up, if you really have given it your all and your health or relationships are now suffering because of it, you may just need to realise that your dream is going to have to take a different route.  This does not mean that you have failed, but simply means that you are going to have to find something different to fulfil your passion for success.  Whether it is constant injuries whilst running, and you realise your body simply isn’t suited to constant pounding of the streets, or your small business is simply not working, bills are not getting paid and you are in danger of losing your home, sometimes you have to face the hard truth and find a different way of doing things.  This may be switching from the long distance marathon to competing in a triathlon with a shorter run or taking your business down a different route that will generate more income for you.

 

So there you have my similarities between running a marathon and running a small business.  I would love to hear of any others that you may have so please leave a comment below.

Customer service secrets to make you stand out from the crowd

Customer service secrets to make you stand out from the crowd

Over the past couple of weeks I have been amazed by the ongoing lack of customer service by so many businesses that I have come into contact with.

Make your first impression the right one

Firstly, I requested quotes from a number of virtual assistants to supply help to a client of mine whilst they were going through a particularly busy period.

One that I contacted did not respond at all and another came back with just a one-liner that they could do the work.  Not a good first impression!  If that was the standard of work they sent me I certainly wasn’t going to let them loose with admin for my clients.  Only one replied with a fully prepared proposal and price and suggested a phone conversation so that she fully understood what was required and to ensure she would be a good fit.  I chose this lady as during our conversation, she was honest in what she couldn’t do but said she would do her best to learn anything new if required to do so.  To me, this showed enthusiasm and a desire to work with me.

Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them. – Kevin Stirtz

Be crystal clear on your service and what you can offer

I then phoned to get quotes for social media support for a client from a number of companies.  One passed me through to their social media ‘specialist’ who took what seemed like forever to find his notes on what they could offer and at what price.  He then could not clearly explain the service and upon questioning had no idea what he was talking about. No sale!

The next waffled on forever and ended up asking me what I thought they should put together as a package and at what price.  Hang on.  I thought I was phoning to find out what they could do for me, not for me to give them business advice.  No sale!

Another went into a barrage of sales spiel but was rabbiting on about social media channels wholly unsuitable for my client.  He didn’t ask one question about my client’s needs and gave me no opportunity to explain them.

“The first step in exceeding your customer’s expectations is to know those expectations.” – Roy Hollister Williams

Don’t make promises you cannot keep

Next I went to order some items from a website but had a query on another product they had for sale.  I phoned and left a message as their answerphone promised a call back within an hour.  No return call was forthcoming so I then emailed and again received no response at all.  Needless to say that I deleted the items in my shopping basket and purchased them elsewhere.

I then had another purchase to make and ordered an item for next day delivery but which did not arrive for 48 hours.  This really irritated me and I complained to the company.  If they had said delivery in 48 hours my expectations would have been met and I would have been a satisfied client so why did they promise me something that could not deliver?

 Make a customer, not a sale. – Katherine Barchetti

Exceed expectations

Finally, I made one more purchase that stated 5-day delivery yet turned up in 3 days.  Even though this item turned up one day later than the promised delivery time of the first company, I was over the moon as they had exceeded my expectations.  Just be honest with your customers and don’t set out promises that you can’t keep.

It is no use going to the time and expense of promoting your business only to throw away enquiries and valuable customers when they try to buy from you.

Here is a powerful yet simple rule. Always give people more than they expect to get. – Nelson Boswell

4 key tips to satisfying customers

So my key 4 tips to satisfying your customers are:

  1. Create the right first impression. Whether it is via email, phone call or face to face, when someone gets in contact for the first time, ensure that you create the right impression to gain their business.  Be professional, take an interest in their needs and listen carefully to what they actually want.
  2. Be clear on what you can offer. First and foremost, make sure that both you and every single staff member know what you offer and can explain this clearly when asked.  If you can’t, you will lose your prospect from the outset.
  3. Set expectations and then live up to them. Be clear on your pricing policy, terms and conditions, delivery and anything else relevant to the sale.  Make sure the customer is clear on these and set their expectations accordingly.  Don’t make promises to gain the sale that you just cannot keep.  It will do you more harm than good in the long term.
  4. Under promise and over deliver. Wherever possible exceed customer expectations so that they remember you for all the right reasons.  With the apparent lack of customer service with so many companies, you are highly likely to stand out from the crowd and gain long term customer loyalty.

Do you have a customer service story to tell, either good or bad?  Please leave your customer service experience story in the comments box below.

How to decline a customer request

How to decline a customer request

Have you ever had to decline a customer request?

How do you respond when someone makes a request that is not normally something that you do?  Do you instantly say no, not possible?  Or do you take a moment to consider whether it is something that you would consider helping them with?

Rather than just saying no, consider saying that you will look into it for them and get back with a response at a later time.  This has two benefits.

The first is that you show them respect for their request by not dismissing them instantly.  This can have a far better lasting impression than a straight out no that leaves them unsure of where to go or what to do next.

Too many businesses refuse to stray from the straight and narrow and therefore miss opportunities that are lying right under their noses.  They are too quick to say no, we don’t do that and leave the enquirer feeling dismissed with care and consideration.

[Tweet “Too many businesses refuse to stray from the straight & narrow & therefore miss opportunities that are lying right under their noses”]

Even if you decide that the request is not something that you can deal with, you can go back and let the person know that you have taken the time to consider it, but it is not something that you can personally help with.

It may, however, be the case that you can refer them on to someone else who can help.  This provides value to the person and also to any businesses that receive a referral, all of whom may remember you for your help in the future and feel the need to repay the compliment.  There may even be an opportunity for starting up collaborative working with another business that will pay future dividends to you both.

[Tweet “Look for opportunities to work collaboratively with other businesses that will pay dividends for both of you”]

The second benefit is that by considering requests that are outside of your normal remit gives you an opportunity to consider whether it is something that you could actually incorporate as a product or service into your business.  This could become another revenue stream that you had not previously thought of.

We get all too caught up with our day to day running of our businesses and can sometimes not see the wood for the trees.  By listening to requests, and dealing with them in the appropriate manner, we can find opportunities that may have otherwise passed us by.

Next time you get a request for something that you don’t currently offer, rather than instantly decline a customer, stop and think for a moment as to how you can turn it into a future opportunity for your business whilst providing great customer service at the same time.

Is it time to invest in your business success?

Is it time to invest in your business success?

All too often I come across people who want everything for free or on the cheap.  Whilst there is nothing wrong with trying to keep costs low and get what you can, there is also a time when as a small business owner you need to make the decision to invest in your business.

If you are not prepared to do this what message does it send out about your business?  Possibly it sends out the message that perhaps you don’t really believe that your business will work and you are just testing the waters but won’t stick around if everything doesn’t run smoothly and go according to plan.

The law of attraction

I firmly believe in the law of attraction.  Therefore, if we are not prepared to invest in your business and pay for the products and services of others, then why should people pay us for ours?  If we project out to the universe that we should get the services of others for free, then that is what we should expect back.  Why should we expect our customers to pay us if we won’t become a customer of others?

You get what you pay for

Remember the saying ‘You get what you pay for’?  This is true when running a small business.  You will not get the best service or best results from always going for free.  Think of a car.  It may be cheaper to buy that old banger to get you by, but I bet it will cost you more in the long run when it constantly needs repairs or breaks down at a crucial moment on your journey. (been there, done that and got the tee shirt!)

If you firmly believe in your business and are determined and passionate about making it succeed, then there will be a time when you need to make an investment.  Yes, this needs to be balanced against the means to pay and the timescale in which any payment needs to be made, but taking the cheap or free option will only slow your business success down.

Save time and money in the long run

You can continue to run a handwritten sheet of your income and expenditure but for a small monthly cost, you could invest in your business and have a specialised accountancy software package that will save you hours of time and likely quite a bit of money from potential mistakes in the long run.

You can slog away for weeks or even months trying to self-teach yourself how to do effective marketing or you could pay someone to set up a marketing plan within a day or two and teach you how to manage it.

You can waste valuable hours and make many expensive mistakes trying to work everything out on your own or you could pay a business coach who has been there and done it to help you avoid those mistakes (blatant sales pitch coming up!) – like me

Think and act like a professional

If you truly want a successful business you need to start to think and act like a professional.  Be prepared to invest in both yourself and your business in the way of having the right tools to do the job and getting the right support when you need it.

If you decide to carry on looking for free, then that is your choice but progress will inevitably be slower and lead to frustration and lack of motivation.

Sit back and really consider your frame of mind.  Are you running a ‘let’s see if it works or not’ business that can take as long as you like to get off the ground or are you a serious business owner who wants to achieve their goals as swiftly as possible?

Maybe time to consider that investment!