In earlier post we showed how sending inconsistent messages to customers through your actions can harm small business owners greatly. Many small business owners don’t pay attention to how customers perceive their business as a result of actions they take and end up confusing the customer who keeps wondering what your business stands really stands for. Is it low price vendor like Wal-Mart or high quality, easy-to-user products like Apple?
To provide consistent message to your customers all departments within your business have to work in harmony like well-oiled machine. The departments you have to pay particular attention to are customer service and marketing. The list below gives specific actions you can take to achieve this:
Cash flow management is one of the most important tasks small business owners need to pay attention to. If you are not paying attention to how your business generates and spends cash you may end up in real trouble, real fast. Cash flow management touches many parts of business, including inventory management, accounts payable, accounts receivable and so on. Below we provide you with insights that will help manage your cash flow better.
Sending inconsistent signals to customers through your actions can harm your business greatly. After your customers do business with you for some time they expect to receive certain “treatment” from your business. They will probably forgive you for a slip-up once or twice, but they will not accept it beyond that. Three strikes and you will be out!!! So what do we mean by sending inconsistent messages to the customers? Let me give you an example:
As mentioned in the earlier post it is crucial to pay attention to the types of customers your business wants to attract. Most small business owners do not pay sufficient attention to this subject and end up leaving money on the table or not making money at all, as a result. That is why it is important to not try to sell everything to everyone and instead think about what types of customers are the right fit for your business.
But how do you go about finding the “right” customers? We think this should be a two-step process. First you should think introspectively about your business and then identify what types of customers will be attracted by the value offered by your business. We explained these steps in detail below.