The key step to creating a successful business

A top tip to creating a successful business from a 42-year-old millionaire.

Whilst on holiday, I got chatting to a chap who having retired at the ripe old age of just 42 appeared to have the key to creating a successful business. From what I could gather he was a very wealthy individual and I had to dig deeper into what he did to become so successful at such a young age.

The very short story is that he took over a failing company, built it up, sold it for millions and retired.

When I asked how he built the business up so quickly, he told me he focused purely on customer service. Yes, the product had to be up to scratch but he concentrated on giving the best customer service he could, and then some. And the interesting thing is that after a year of him selling the business, it had started to fail and has since fallen bankrupt.

I can totally relate to this, as those of you who know me, will know I bang on about how the customer is the person who will make or break your business and if you are serious about creating a successful business, you need to give exceptional customer service at all times.

Aeons ago, I built up a failing estate agency practice to become one of the most successful in the chain of offices by focusing on customer service. As many of you may have discovered for yourself, customer service is severely lacking in the majority of estate agencies. I made sure every single vendor and buyer was contacted each week to let them know what was going on with the sale and purchase. I made sure every single person looking for a property was contacted at least once a month to update their details and discuss what was happening in the marketplace.

All our clients and contacts knew we were working behind the scenes to do the best for them and that our staff cared. This resulted in a HUGE turnaround for the agency and we won many awards.

Focus on customer complaints

When I started as Operations Director for another company, it had no less than six full-time workers dealing with customer complaints. I was asked to help sort out the sales staff so more customers could be brought on board. Rather than doing this, I focused on the complaints, what was causing them and ways to stop them from happening again. This resulted in eventually having just one person answering the phone to complaints on an ad hoc basis with a huge increase in turnover due to cancellations being reduced dramatically.

Too many businesses don’t focus on existing customers and are always looking to find new ones. Take care of your existing customers and clients who will appreciate your efforts, keep coming back to buy from you and bring new people with them.

Remember, it can take months to find a new customer but just seconds to lose one.

Create an exceptional customer experience

If you would like to find out how to create a customer experience that is the key to creating a successful business and gets you remembered for all the right reasons, check out the module in my member’s area which includes: