A business is a delicate machine and throwing a wrench into the works provides scenes from which horror movies are made. Feel like crashing and burning? Here are a few things that will keep the popcorn flowing and the ‘Nightmare in Your Street’ constantly in the theaters:
You forget entirely about customer support. Scene one: shun your customers. The lifeblood of a business is its customers. Letting your customers stew in their own confusion will let them feel that their concerns don’t exist. An unhappy customer –proven unhappy for a long time –will leave for greener pastures.
If you want the opposite results, respond to their queries as quickly as possible, personalize your emails, solve your customer’s problems, and anticipate their needs. Honesty is the best policy; don’t hide behind propaganda. Courtesy, too, is a valuable virtue. Don’t be a tyrant: listen to your customers.
For prices, pull out numbers out of a hat. This is a good way of keeping everyone in suspense –and keeping you in harm’s way.
Don’t be an unpredictable magician. Have a standard pricing structure and don’t just pull anything from your hat; you may find yourself grasping your demise. Will you be giving hourly rates? Do you charge on a set project basis? Are you using results-oriented pay? Be very up front with your clients: familiarize them with the fact that your rates are dynamic and will be raised according to a deliberate plan. Design an incremental increase between each level of product or service very carefully.
Your company doesn’t have a savings fund. Perfect! No room for future expenses, emergencies, or investments. None, even to improve your financial standing! You’ll fall flat on your face and this will provide ample humor in your up and coming horror flick.
Cutting costs can save your business and save you the derision. You will have funds for a rainy day and you can create more capital through investments. Doing things such as splitting the advertising between yourself and neighboring businesses, or using a spare room at home for an office, and hiring only necessary personnel, et cetera will help you run a tight operation…with money to spare.
In addition, you aren’t insured either. Insurance isn’t just protection against casualties that may never happen. Legal hazards can easily bite your head off and create a blood-fest. You and your business have an undeniable economic connection. Any uninsured losses made to yourself, your property, or your business will threaten your financial well-being.
You don’t measure anything. Getting lost in the woods to be preyed on is easy: just don’t navigate. Keep a sharp eye on deductible expenses; track the results of your marketing campaign, and the statistics of your website. Never least, quantify the rise and fall of your revenue and expenses. From the expenses associated with supplies to those of transportation, these will provide landmarks and point you right direction.
Hopefully, with these tips, you’ll be making less of a horror flick and more of an adventure with a happy ending.
Originally posted on January 9, 2008 @ 9:44 am