10 Top Business Assumptions that cause you to lose money
10 Top Business Assumptions that cause you to lose money
Insanity is defined as “Doing the same things over and over again and expecting different results.”
If what worked yesterday to gain and retain customers is not working in today’s fierce competitive market you must dare to be different and learn and use new marketing and selling techniques.
# 9 Assuming you cannot take another approach.
Taking another approach will keep your marketing and selling techniques fresh and exciting.
Don’t just run an advertisement, run a promotion, combining all media, direct mail and in store
marketing. If what you are doing now to gain and retain customers is working, try another approach to make it work better.
# 8 Assuming Perception.
Make sure you know the perception your customers and prospects have of you and your business by asking them. Do this exercise: Have everyone in your business write down
A. The perception they want the customers to have of your business.
B. The perception they feel the customers actually have of your business.
C. Survey your customers to discover their actual perception of your business.
You may be surprised. Many times your customers and staff have a completely different perceptionthan you do.
# 7 Assuming you know what the customer’s problems, needs and wants are.
People buy to solve their problems, needs and wants.
# 1 Rule in Selling.
The seller that solves the customer’s problems, needs and wants the easiest for them will get the sale. Discover your customers problems needs and wants by asking them.
# 6 Assuming your customers will Refer you to others.
Like you, your customers are busy. Too busy to think about recommending you to their family, friends and colleagues. You must actively ask, ask and ask again for them to recommend you. Satisfied customers will recommend you if you ask them to.
# 5 Assuming your customers will remember you when a buying decision is made.
Stay in touch with your customers and they will stay in touch with you.
Send thank you cards and special day cards that will keep you remembered.
# 4 Assuming your customers will remember what you tell them
42% of what you tell a customer is forgotten 30 minutes after the presentation
66% of what you tell a customer is forgotten after 1 day
90 % of what you tell a customer is forgotten after 7 days
To help customers remember why they should buy from you, never let a customer leave your store without benefit information in their hands.
# 3 Assuming your customer is SATISFIED.
Strategic Planning Institute of Cambridge Pa. discovers that:
1. The average business never hears from 96 percent of its unhappy customers. At least 90 percent of them will not visit or buy from that business again.
2. Of customers who register a complaint, 70 percent will do business with the company again if the problem is resolved.
3. Of the customers who have a complaint, 95 percent will do business again if the problem is resolved quickly.
To find out if your customers are satisfied, “ASK THEM”
A dissatisfied customer once satisfied becomes a profitable customer for life.
#2 Assuming your customers buy from you because they LIKE you.
90% of buyers would rather buy from someone they trust, than someone they like.
#1 Assuming you don’t need to treat every customer like a Millionaire.
Do not judge a book by it’s cover. You never know when your customer / prospect is a millionaire or may become a millionaire. Role out the red carpet for everyone.
10 Top Business Assumptions that cause you to lose money - To learn more about this author, visit Bob Janet's Website.
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# 10 Assuming what worked yesterday will work today.
Insanity is defined as “Doing the same things over and over again and expecting different results.”
If what worked yesterday to gain and retain customers is not working in today’s fierce competitive market you must dare to be different and learn and use new marketing and selling techniques.
# 9 Assuming you cannot take another approach.
Taking another approach will keep your marketing and selling techniques fresh and exciting.
Don’t just run an advertisement, run a promotion, combining all media, direct mail and in store
marketing. If what you are doing now to gain and retain customers is working, try another approach to make it work better.
# 8 Assuming Perception.
Make sure you know the perception your customers and prospects have of you and your business by asking them. Do this exercise: Have everyone in your business write down
A. The perception they want the customers to have of your business.
B. The perception they feel the customers actually have of your business.
C. Survey your customers to discover their actual perception of your business.
You may be surprised. Many times your customers and staff have a completely different perceptionthan you do.
# 7 Assuming you know what the customer’s problems, needs and wants are.
People buy to solve their problems, needs and wants.
# 1 Rule in Selling.
The seller that solves the customer’s problems, needs and wants the easiest for them will get the sale. Discover your customers problems needs and wants by asking them.
# 6 Assuming your customers will Refer you to others.
Like you, your customers are busy. Too busy to think about recommending you to their family, friends and colleagues. You must actively ask, ask and ask again for them to recommend you. Satisfied customers will recommend you if you ask them to.
# 5 Assuming your customers will remember you when a buying decision is made.
Stay in touch with your customers and they will stay in touch with you.
Send thank you cards and special day cards that will keep you remembered.
# 4 Assuming your customers will remember what you tell them
42% of what you tell a customer is forgotten 30 minutes after the presentation
66% of what you tell a customer is forgotten after 1 day
90 % of what you tell a customer is forgotten after 7 days
To help customers remember why they should buy from you, never let a customer leave your store without benefit information in their hands.
# 3 Assuming your customer is SATISFIED.
Strategic Planning Institute of Cambridge Pa. discovers that:
1. The average business never hears from 96 percent of its unhappy customers. At least 90 percent of them will not visit or buy from that business again.
2. Of customers who register a complaint, 70 percent will do business with the company again if the problem is resolved.
3. Of the customers who have a complaint, 95 percent will do business again if the problem is resolved quickly.
To find out if your customers are satisfied, “ASK THEM”
A dissatisfied customer once satisfied becomes a profitable customer for life.
#2 Assuming your customers buy from you because they LIKE you.
90% of buyers would rather buy from someone they trust, than someone they like.
#1 Assuming you don’t need to treat every customer like a Millionaire.
Do not judge a book by it’s cover. You never know when your customer / prospect is a millionaire or may become a millionaire. Role out the red carpet for everyone.
10 Top Business Assumptions that cause you to lose money - To learn more about this author, visit Bob Janet's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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