Ways to Improve Your Leadership Skills

October 31st, 2010 admin Posted in Business success No Comments »

To improve your leadership skills and to enhance our communication skills, ways to increase their capacity to be an effective leader.

Did you ever say, “Well, I agree that I think I have bad leadership skills, my co-workers. All I hate my job and I am unable to” hear.

Do not respond at all. They also say any of this because they have poor leadership skills, or do not believe they do not want to appear incompetent. Unfortunately research tells us that the staff perspective, there are many managers out there who have poor leadership skills and communication skills.

What we should take out of this paradox? Perhaps the least, we acknowledge that there ourselves to improve our leadership skills and communication skills to enhance our ability to increase our room can be an effective leader. After all, it’s that kind of skill to get 100% right all of the time is not easy. It might just be that we, especially our leadership skills to us, so here is starting from 10 need not know what can improve:

1. Get a reality check

Finding out what others think of our leadership skills and our communication skills can be real eye-opener and often the most powerful driver for change. A 360 survey where you get feedback from your employees have access to staff and managers, and family sometimes gives you some solid information on an abstract subject. Use an existing tool (and there are some people out there is considered high) or just to let your employees know that you are receiving feedback from them in order to improve their leadership skills.

A word of caution though, do not feel safe in giving feedback to their employees if they believe that you can use it against them, or what they say about what might be going to be defensive. It’s up to you to create a safe environment so they feel comfortable in being open and honest with you is.

2. To use the power of his position do not get things done

People are questioning why certain things done, whether or decision logic, if ever pull rank in response. Buying a critical component of effective leadership skills of your team and colleagues are getting. You do not buy telling them that the decision is right because you’re the boss and you made it your communication skills are extremely important in by. Your team always agree with what is being done, but they do more to respect you if you explain your reasoning is likely to take time.

3. Managed to control things or do not think of employees as needed

Instead, they take action to give latitude to make decisions. Trust is an important component of leadership skills. If you do your job well for the people can not trust, you work either in the wrong people, or you have the right people, but you have not trained adequately. Them what they are there all the time, leaning on their shoulders, or know that they spend every minute of your time without demanding.

4. Listen, listen, listen

Unhappy or disgruntled people in your business, you can guarantee that at some stage to tell you what the problem is they have tried. It is likely you (or did not want to hear) were not listening, or perhaps your initial reaction made the person think twice about bringing this problem. Hear the truth the greatest leadership to develop, regardless of their role is one of skills. Sympathies really good listener, interested and want to find out what’s behind the conversation. Great leaders, great communication skills, without exception.

5. Stop providing solutions

Managers often achieve their positions after being technical experts, or how situations or problems and therefore “right” will be visible on the opinion. They believe that anyone has to say it fast or do it themselves, than to give your employees the opportunity to find out. Always the answer by providing managers and their staff away to learn things to come with the option (and possibly better) ways to take this opportunity.

6. Always – always be creative

Language and communication skills set great leaders apart from mediocre ones. Take full responsibility for how you are heard – protection or do not be critical of others. If you catch yourself about the negative comments, a breath and your words get your message across without the emotional attachment to take rephrase. A great leadership skills and creative ways to always say things to find peace.

7. Judge your success by the success of your team

The real success of a leader that people can be measured by the success of their work. Others as a manager, your main responsibility is to ensure growth and success of your team. If they are successful, you will automatically be successful. Build their skills and focus on removing obstacles in their way. If you can get it, you productivity, motivation and satisfaction of your employees see the results. This in turn filters through to bottom line results.

8. Things just because they “will look good” Do not.

Nothing managers who make decisions and behave only to their superiors look good to have more and more transparent. If you want to improve their leadership skills, integrity is a virtue you need. Integrity to make decisions because they are right, and the integrity to stand up when you really think something is not in the best interest of business. Whether or not it is more in your personal interest is less of an idea.

9. Include in your diet Comedy

No one is an environment that is devoid of any fun, like the work. People are more productive when they are enjoying themselves. A workplace where fun is allowed and encouraged can make a significant difference, and it is even more effective when the boss is away. It increases team spirit, and the people a person, not as simply as the owner to see the rewards.

10. Are real people you know

Being open about yourself to break down the barriers that hierarchy puts in place helps. Trust and respect – when your staff an excuse, that’s when you start building the foundation of good leadership to know the person behind.

About the Author
The author, is the founder of website about How to develop Leadership Skills. A website dedicated to helping strategic leaders for his strategic leadership. She has written other leadership articles, press releases, leadership books, Leadership Blog and has leadership videos on leadership style, motivation, self improvement, and organization development. Her mission is to help others all over the world succeed in their own business.



Buy Cheap Small Business Dental Insurance

October 17th, 2009 admin Posted in Business success No Comments »

If you are an owner of a small business, it is your responsibility to provide them with health insurance. Now, this includes dental insurance as well. The small business dental insurance are specifically designed to meet the employees’ dental needs as well as the budget of the company.

With small business dental insurance, you can provide your employees with the dental insurance that they need and deserve.

This is an important benefit that your employees will surely appreciate. You can get the prices of the different small business dental insurance that are available to you by checking out the free instant quotes.

Thanks to the Internet, shopping for small business dental insurance is made easy. Just by looking at the quotes, you will have an idea of the quality coverage for the small business dental insurance that you are getting.

There is no denying that employees value health insurance benefits. After you interview them and you ask if they have any questions, chances are they will ask about health benefits.

A company, even if it is a small business, will be valued by the employees if they have small business dental insurance. Employees will naturally feel that they are being taken care of the company, just as they are giving them their hard work.

As a business owner, chances are you must have looked for small business dental insurance for your employees. You have to be aware of the various tax incentives that are available to your employees when you become part of a group health insurance plan.

Some plans include a dental insurance while others don’t. So you have to at least make sure that the small business dental insurance plan that you are getting covers dental expenses of your employees.

Remember that your small business qualifies for small business dental insurance plan if it consists of at least two full time owners, officers, partners, and employees.

This must also verify the officially-filed state quarterly wage and tax statements as indicated by the state that your business is in.  Your company should also have a legitimate business entity that has been verified by the following documents: articles of incorporation, a business license, and articles of organization.

Finally, your company must meet the minimum employer contribution percentage that is set by your insurance company.

Note that the eligibility criteria stated varies among the insurance providers and the state that your business is in.

In order for you to clarify the questions you have regarding small business dental insurance, it is better that you talk to them in person.

About the Author:
Discover where to buy cheap small business dental insurance online. Learn where to get cheap small business liability insurance quotes online.



Do you do to keeping Your Cool when The Customer is chewing you out

October 4th, 2009 admin Posted in Business success No Comments »

A day in the life of a businessperson can be filled with joy and satisfaction or it can be frustrating and stressful. When things go wrong, some people lose control. Holding emotions in check and reacting professionally under fire are not always easy. It is particularly difficult to be nice to people who are not being nice to you.

So what do you do to keep your cool when the customer is chewing you out Most of the time it is not even your fault. It could be that the problem was with a product or a service delivered by someone else in your organization. Your getting the blame because the unhappy person found you first and its not pleasant. When faced with angry people there are four key steps that will help diffuse the situation.

Step one is to apologize. But you say its not my fault. It does not matter whose to blame apologize anyway. As a representative of your company you have a responsibility to see that things go well. Your willingness to be accountable will have a positive effect. After all it takes two to have an argument. If one of you refuses to be disagreeable you cant have a disagreement. You are not accepting blame-you are simply saying I m sorry about the problem. You are wasting your breath unless you apologize with complete sincerity so be sure that your tone of voice matches your words.

Step two is to sympathize with the irate customer. Let the person know that you can identify with his feelings. Say that you understand the frustration of receiving a faulty product or poor service. The angry person begins to feel better as soon as his reaction is validated.

Step three is to accept responsibility for the situation. Be accountable to the customer. Let him know that you intend to do whatever it takes to make things right. You cant help what has already happened but you will come up with a solution to the problem or you will find someone who can.

The last step is to take action. Decide what you can do and tell the customer. You will replace the defective or incorrect product as quickly as possible. If the issue was poor service deliver better service. Whenever you can offer a bonus of some sort or waive fees the tiger before you is transformed into a pussycat.

Use the acronym ASAP to remember these four steps for calming upset customers. Each letter stands for part of the process.

A is apologize.
S represents sympathize.
A stand for accept responsibility.
P means prepare to take action.

Nothing will be solved by becoming argumentative and reactionary. Instead diffuse the clients anger by being apologetic and sympathetic and focus on positive steps that will resolve the situation. Before you know it your adversaries will become your allies.

Oh yes remember to smile. It will make everyone feel better and behave better.

c 2005 Lydia Ramsey. All rights in all media reserved. Please reprint article with by line intact and all links made live.
c 2005 Lydia Ramsey. All rights in all media reserved. Please reprint article with by line intact and all links made live.

About the Author:
Did you find this article useful? For more useful tips and hints, points to ponder and keep in mind, techniques, and insights pertaining to Internet Business, do please browse for more information at our websites. http://www.allhottips.com http://www.bookstoretoday.com



Management and Leadership

September 24th, 2009 admin Posted in Business success No Comments »

When I was in the U.S. Marine Corps, the term “leadership” was taught, explained, and demonstrated almost every minute of the day. I found that the biggest and most important difference between a manager and a leader is the way they motivate people who work for them, or follow them. I find that the traits associated with management and leadership can be very similar but they are definitely not transferrable. In our daily routine, there is a need for both types of individuals and many of you have developed both styles in your personal and professional life.

It has been my experience that if you are a manager you normally have subordinates. These are individuals who have been assigned to your charge by higher authorities within a corporate structure. Managers hold positions of authority that have been given to them by upper level administrators and are assigned a multitude of tasks to accomplish for the betterment of the organization.

Management of the daily routine is a very important function, especially in today’s troubled corporate environment. And let me add, not everyone can be an effective manager. It takes training; perhaps vocational, on-the-job or academic instruction. It also takes a ton of organizational skills, patience, self-confidence, and the ability to efficiently function under some extremely high pressure deadlines. Managers usually are not big risk takers and that’s perfectly alright because the company has tasked them (and their subordinates) with the successful completion of a task for the benefit of the company – nothing more, nothing less. That’s what a manager gets paid to do.

Leaders, on the other hand, normally don’t have subordinates but leaders always have followers. People only follow someone because they want to, not because they are asked or forced to do so. Many corporate leaders have subordinates, but that’s only because they are also managers within the organization. But when these individuals feel the need to lead, they must give up their formal corporate managerial authority, because to lead is to have followers, and following is always a voluntary action – there are no exceptions.

There are all kinds of leaders; some are animated and energetic while some are more reserved. Some people seem to be born to lead while others learn how to lead. Some are charismatic while others are extremely humble but whatever the style; there is always a magnetic appeal to whatever the leader does or asks others to do. Leaders will never ask anyone to do something that they won’t do right along with their team. And although leaders aren’t thrill seekers, willing to do anything to get the job done; they are calculated risk takers and not afraid to do something out of the ordinary in order to successfully complete an assigned task.

Like I said at the beginning, most of us have a touch of both – managerial and leadership traits – within us. This allows us to be organizers when necessary and adapt to changing situations, when required to do so. I have heard a simple explanation concerning the difference between management and leadership style that says “managers do things right, leaders do the right things.”  I believe what this means is that managers are centered on the process of accomplishing tasks while leaders are more visionary and imaginative.  I guess that may be true, but I also believe there are many other factors that must be discussed when we consider the value of each role.

If a company is going to surpass its competitors by becoming more productive and innovative, the proper individuals must be assigned within the leadership and the management makeup of the company.  Both of these functions are important and I think we sometimes give too much credit to the star corporate executive rather than realizing that both the internal leader and his or her management staff/team are needed to assure the ultimate success of a company’s business plan.

About the Author:
www.whoisJamesDicks.com -For more than a decade, James Dicks has been one of the nation\\\’s leading educators on the subject of Real Estate, Stocks, Options, the Foreign Exchange Market and empowering investors to handle their own investments. James is living his dream by helping investors and businesses overcome the hurdles of reaching their financial goals. Millions of people have heard James’ message of diversification, money management and financial freedom and thousands have attended one of his many free workshops. Increasing investment knowledge is James\\\’ goal and he strives to reach this goal by using a common sense approach that investors of all types can utilize on their road to financial freedom. James Dicks is the president and CEO of a growing network of international companies. Founded in 2002 the PremiereTrade companies have already surpassed 70 million in gross revenues. With a focus on Technology Mr. Dicks has inspired and founded the fastest-selling financial software, PremiereTrade® AI, for trading stocks, options, mutual funds and the FOREX and is a leading trainer in the world for international foreign currency trading and investing. Mr. Dicks has held numerous professional licenses in the securities field starting in early 1991, and occupies investment advisor or capital development positions for growing entities. Mr. Dicks has built the Premiere Companies on Technology with a vision and work ethic instilled by the United States Marines, Mr. Dicks was able to build a team to carry out this vision which includes, IT services, Innovative financial technology for individual consumers and commercial business, 7×24 systems and operations, Custom CRM’s, and many products and services that integrate digital media with institutional memory and process. He is the author of the bestselling book FOREX Made Easy … Six Ways to Trade the Dollar and his most recent book from McGraw-Hill, Operation Financial Freedom. The newest book, released in April 2006, also from McGraw-Hill, centers on a tremendously hot topic today, Real Estate, How to Buy and Sell Real Estate for Financial Freedom. His newly developed trade recognition software, PremiereTrade AI, is generating interest and sales on an international level. James Dicks actively diversifies his and his companies portfolios, James began investing in real estate in the early 90’s. His companies have bought and sold hundreds of homes, acquired over a thousand acres of property and have developed one of the finest communities in the South East, Lake Club, a 2008 Street of Dreams. James is a dynamic trainer and motivator, speaking on nationally syndicated radio shows and appearing nationally before thousands of people educating them on personal finance, real estate and investing. As both a former Marine and dedicated family man, He strives to make a positive difference in the lives of every person he meets, and is proud to have served in the United States Marine Corps.



How to Measure Leadership Skills and Increase Productivity

September 16th, 2009 admin Posted in Business success No Comments »

In today’s economy, the most important thing for any professional to focus on is increasing productivity to make the most of what you have.  Sounds easy enough, but in today’s world, professionals have to be ready to walk the walk, when they have already talked the talk.  How do we measure something that is always changing?

The first step in defining leadership is to define the characteristics of an effective leader.  Effective leaders consistently exhibit certain characteristics.  By understanding what these characteristics are, we can model these same behaviors.  Fortunately, Jim Kouzes and Barry Posner’s book The Leadership Challenge has studied over a million cases of effective leaders.  As a result of their research, we now know that the top characteristics of an effective leader are honesty, competency, being forward-focused and inspiring.

Now that we have something to measure, how do we go about measuring it?  The most popular method is through the use of inventories or surveys that ask others to rate a person in a variety of categories.  The subject does a self evaluation on how they are doing and those that work with them (supervisors, coworkers, customers or anyone else that has contact with the subject).  After all the data is compiled, we can then take a tangible look at what was once a subjective area.

One of the best examples of this type of inventory is the Leadership Practices Inventory (LPI) by Kouzes and Posner.  After over 25 years of research, they have composed a relatively easy way to compile an enormous amount of data in an easy to understand graph.  Once complete, the baseline for leadership skills has been set.  From that point on, it is a matter of working to improve the areas that scored the lowest on the inventory.  In order to track progress, or in some cases lack of progress, one can re-administer the LPI to get an “update” on how their leadership skills are doing.  For a video demo of the LPI go to http://www.lpionline.com/demo/demo.html.

Once armed with this powerful information, it is imperative that the results are interpreted and communicated very carefully.  The Lake Wobegon Effect (http://psychology.wikia.com/wiki/Lake_Wobegon_effect ) tells us that the human tendency is to overestimate one’s achievements and abilities in relation to others.  In our case, it is normal and expected for most people to expect their results to be higher than they really are.  It is highly recommended that you choose someone that is a certified facilitator to work people through this section.  Without trained facilitation, a person may end up dismissing years of proven research due to a blow to their ego.  With proper guidance, the growth of any one individual can be almost limitless.  After all, who has met someone that is the best at everything?

By following these guidelines, one can not only measure the leadership skills of an individual, but is armed with a solid development plan based on years of research.  The results include increased leadership skills in all levels, an increase in job satisfaction, employee retention and host of others.  What is stopping you from measuring your leadership skills today?

About the Author:
Thomas Raney is the owner the public speaking and leadership development company, Ascension Advocates, Inc. He has over 15 years of experience working with people and teams in creating enjoyable, healthy and productive work environments. Visit us at www.ascensionadvocates.com



Leadership is about the Leader’s Character

September 15th, 2009 admin Posted in Business success No Comments »

What I know now….Leadership is about the Leader’s Character

by Talyn McArthur

Leaders are more powerful role models when they learn than when they teach. -Rosabeth Kantor

We have all come across various definitions and examples of leaders. Recently I had the opportunity to meet with a leader who pleasantly surprised me with her example.

Last month, I had a chance to meet with and interview Cora Tsouflidou. In May 1987, Cora purchased a tiny neighborhood canteen and turn the canteen into a restaurant that served innovative breakfasts, specializing in omelettes and crepes. Cora is the genius behind Chez Cora and Cora’s Breakfast & Lunch restaurants and the founder of the 100-location chain franchise.

In my research of Cora prior to our interview, I found out that Cora has no debt and that while she started Chez Cora; she was also a hostess at famous Montreal restaurant, where she started as a day manager was then promoted to general manager. Her goal in simultaneously starting Chez Cora and working as a hostess, was to showcase and perfect her expertise. 100-chair restaurants later, it is clear that Cora has mastered her trade and has a great business model worthy of imitation.

We all know that the sign of a great leader is not how much money they have. For most of us, what makes a leader memorable is their example and how approachable they are. This is exactly who Cora is: approachable.

Cora’s advice to business owners is “You don’t always have to be intelligent, you just have to let you be you. Come back to your human quality. Let yourself be loving, let yourself teach and learn. Just let yourself be.”

It was evident from my interview with Cora that this was not rhetoric, this advice was a passionate message that she lived and wanted entrepreneurs and employers to live. It is true that great leaders have many virtues worth imitating, but what makes them great, is their ability to inspire the minds and the hearts of those who work with them.

Regardless of your industry, here are some virtues that you want your employees to be able to imitate in you:

  • Respectfully listen without judgment
  • Have a sense of humour: being funny is not the same as sarcasm
  • Be assertive not aggressive
  • Treat everyone like people: remember the first to present his/her case; always seems right.

The ultimate way of learning what virtues describe you as a leader, is to learn from your team, what qualities they’d sincerely use to describe your leadership style. It might be a courageous task but it helps in establishing an atmosphere where creativity is promoted. And as any leader knows, creativity and atmosphere affect your bottom line and your employees desire to go the extra mile.

About the Author:
Talyn McArthur is an Entrepreneur with over six years of Promotions and Communications experience. She is the CEO of Let It Shine (www.letitshine.ca), an inspirational web-site for women. Talyn graduated from University of Toronto with a double major in Industrial Relations and Sociology. She has worked for some of Canada’s top Broadcasters and is a published authour and a Poet. Visit www.talynmcarthur.com



Do Your Customers Trust You?

September 10th, 2009 admin Posted in Business success 1 Comment »

One of the most important facts you need to understand when marketing to your target clients and customers is that they won’t buy from you if they do not feel safe. This means that you have to make them feel secure.

You have to make them see that you can provide them what they need and want even in your marketing collaterals such as your poster printing or print posters. They will not buy anything from you unless they know that it is safe for them to rely on you for solutions to their issues and concerns.

Your marketing efforts then should be able to deal with the issues of your target clients for security. How? By providing them with a marketing campaign in your poster printing or print posters with trust. You have to make them believe in you and most importantly, to trust you. You have to ensure that your marketing campaign builds trust with your target clients.

It is not about the statistics that you bombard them with, or even the safety precautions included in your offer. Telling your target clients to simply trust you is not enough. Words without actions are not enough to build the trust between you and your target clients. Unless you show them of your reliability and dependability, they still will not take you up on your offer. In addition, they will not even tell you the reason why.

Does your marketing campaign foster trust and reliance among your target audience? Does your company exude trustworthy values and qualities that your clients and prospects can rely on? Are you doing things to ensure that you build your target clients’ trust in you? On the other hand, are you aware of the things that you do to make them lose their trust in you?

To demonstrate and encourage confidence with your clients, you need to consider and understand, first and foremost, how you can deal with their fears. Moreover, regardless of how trivial you think it is, any fear your target clients have is real for them. You need to respect that and try to address it in your marketing strategy such as your poster printing for example.

Your print posters should also be able to offer guarantees in easy and trustworthy words. This means being true to your promise. If you guarantee to ship your customer’s order within 24 hours then you had better be able to do so. Do not include any promises that you very well know you cannot keep just so you can get them to buy your product. Promise only those that you can keep.

As always, you need to be consistent and accessible when you provide your offer in your print collaterals. If your target clients have questions and they cannot reach you, then you can surely bet your money that they will not call you again, let alone buy from you.

The point here is this – no amount of promises can make your target clients feel secure in your offer. Unless you provide them proof that they can rely on you, you will always miss the opportunity to convince them of your worth.

Know more about the print posters or poster printing technologies used by businesses for their marketing and advertising campaigns.

About the Author:
Katie Marcus writes about the various online printing and commercial printing technologies that businesses use for their advertising and marketing campaigns.



How to become a Great and Effective Leader

September 7th, 2009 admin Posted in Business success No Comments »

How to become a Great and Effective Leader In most of our lives, there is always that one person who stands out and who we look up to as a leader and who has good leadership qualities. This is the person we choose in our minds to follow and be like. Everybody has a different leadership figure, because everybody looks for different traits in a person that they would like to get to know, follow and be like.

There are a couple of characteristics that are there in most leaders that we meet today. The first is that they seem incredibly busy all the time, but they always seem to get everything done. The saying goes, if you want something done, give it to the busiest person you know and it will get done. This is because most effective leaders write down and plan their day to the last minute. If you had to take a peek into their diaries, you wouldn’t see a single empty space. Effective leaders even plan their leisure time. Most importantly they set their goals and they stick to them no matter what.

The other common characteristic or trait that leaders have is that they always seem to be doing things that others wouldn’t normally do. In fact leaders do what would seem quite illogical to most people. For instance, how many of you would fly around the world for a one day conference. A leader would if he knew it would enrich his life in some way. A leader takes risks that most people would be to frightened to. Another thing that you notice about leaders is the way they always seem to have or make a lot of money, but don’t work for a boss. In fact most leaders are their own bosses. They seem to have an innate ability to help and touch the lives of most people that they come into contact with. This is what pulls business to them. They don’t deliver a sales pitch to everyone they meet. They are genuinely interested in people and look for way to help those people by enriching their lives in some way. They are constantly learning themselves, and imparting their knowledge to others unselfishly.

Another thing that good leaders do is practice what they preach. They never recommend that somebody do something without first trying it out for themselves.

Shouldn’t everybody strive to be just such a person? Imagine what a better place the world would be. The best way to learn how to be an effective leader is to follow and hang out with them. Watch them closely and try to pick their brains once in a while. If you can, try and get one of them to coach you. You will be amazed how a change in mindset and a change in the way you do things can result in a whole new and better life for yourself. The internet is a wonderful place to meet new people and find great leaders to follow without them knowing that you are spying on them. Take twitter for instance. You can log on and find the person with all the character traits that you like and simply follow them. See what they read and do each day and you will get a good idea how to implement these things into your own life.

The company that I work with has a wealth of like minded individuals to follow. They focus on training all members to achieve the same results that they have had in their lives. It’s always best to learn from the top leaders and achievers in the field that you want to go into. It is a wonderful community to be in and the support and help is ongoing. My life has been enriched from learning from such powerful individuals, and I have learned more than I thought possible about my life and about doing business. http://ashes2riches.com

About the Author:
Michel Maling Passionate about Dancing, Scrapbooking and building a powerful online business to help others make their financial and personal dreams come true. http://ashes2riches.com



How You Can Combat the Effects of the Recession

July 29th, 2009 admin Posted in Business success No Comments »

By: Brooke Reid

When it comes to sales, industry experts hold that it’s easier to retain an existing customer, than to attract new ones. Since there is such fierce competition between businesses over customers lately, this theory is especially important.

But what’s the best way to make sure a customer remains loyal to your business?

A very wise and successful businessman once said, “Do what you do so well that they will want to see it again and bring their friends.” Who was this brilliant entrepreneur? He was a man who was clearly a poster child of maintaining a successful business throughout the highs and lows of the economy – Walt Disney.

Customer service is the name of the game. Research shows that businesses will be in a better position when the economy brightens up, if they focus on high customer service standards during a touch economy.

“Being a leader in customer service is an integral component of business strategy,” says Joel Reid, a Business Specialist in the investment and financial services industry. “By strengthening relationships with existing clients, businesses in any industry can endeavor to be a customer’s primary choice to ensure customer loyalty.”

In fact, Acumen Research Group conducted a survey of more than 1,000 Canadian retail, banking and telecommunications company customers to determine what made them stay loyal to a company and what made them find products and services elsewhere.

The results spoke for themselves with 43 per cent of respondents claiming that they had abandoned a provider to which they declared themselves loyal because of a negative experience with a staff person.

Further, 30 per cent of respondents in the same study reported that having the feeling they were not treated as a value customer by the staff was their main reason for taking their business somewhere else.

“When you’re talking about customer service, one of the most important things a business can do is to maintain a good relationship with your clients,” said Duncan MacFadyen, Senior Partner with Market Financial Services consulting firm. “When you’re talking to them in a meaningful way and asking their opinion, then you’re keeping them happy.”

Ultimately, in order for a business to survive during a recession, they must focus on maintaining or elevating their bottom line. Sales are dependent upon the amount of customers a business can bring in. In fact, a significant amount of new customers are gained – or lost – through referrals.

According to the White House Office of Consumer Affairs in Washington, DC, a dissatisfied customer will tell nine to15 people about their negative experience. Further, approximately 13 per cent of dissatisfied customers will tell more than 20 people about their dissatisfaction.

On the other hand, happy customers – or customers who have had their problems resolved in their favour – will tell four to six people, on average, about their positive experience.

There are several ways a business can improve customer service.

“Some aspects to keep in mind when it comes to customer service are keeping contact with loyal customers, stocking and updating products that meet your clients needs and keeping products priced appropriately, especially in challenging economic times.”

However, it’s important to ensure that the customer service guarantees a business sets out are attainable.

For instance, Sleep Country Canada consistently guarantees that their delivery personnel will wear disposable “booties” when entering a customer’s home so that they wont traipse any dirt in. This example is definitely attainable and shows the customer that the company cares at the same time.

“In difficult economic times, clients are looking for an awe-factor or a competitive edge, a consistent client service experience and a competitive product offering,” said Reid.

Not only will high customer service standards boost customer loyalty, but according to a study done by the University of Michigan, it can also boost a retailer’s stock price.

Businesses wont make any profits if they don’t have customers. A smart business owner knows this and does everything in their power to make sure that customers have the best possible experience to ensure that they remain loyal customers, which is especially important throughout a challenging economy




Avoid financial failure in a Fianacial Crisis

April 21st, 2009 admin Posted in Business success No Comments »

By: Frank Joseph

While it is obvious that every business owner looks to avoid failure, the focus should be what steps do you intend to take to properly avoid failure during this financial crisis and those critical years beyond? This is another important aspect when trying to obtain financing. Here are 10 of the most important steps you need to take

1.    Get to know the most common reasons that businesses succumb to financial failure, so you can spot and fix problems before it is too late. You should be able to convey this to your potential lenders clearly.

2.    Thoroughly research all of the expenses and operational costs that you will run into. Always overestimate your costs, as opposed to underestimate. However, if presenting these fiure to a potential lender, not too much or the lender may think you are trying to obtain funs you don’t really need. The other side to that coin is that a typical lender will offer LESS than what you request. Either way your numbers have to be fairly realistic for you to run your business successfully and you must be able to show this to your lender.

3.    Know the difference between profit and cash flow. Just because you make a sale and bring in some money does not mean you automatically have earned a profit.

4.    Do not rely on loans or overload with debt. A healthy business will have a good balance of equity and debt. Work within the budget you have until your profits pick up, allowing for other expenses.

5.    Before taking on debt, make sure you completely understand the expectations of your financiers. Do not enter into any agreement that you are not completely sure you can honor, because ruining the reputation of your company in the financial community could be the kiss of death to a growing business.

6.    Make sure that your employees are well managed so everyone is pulling their own weight and doing their job. Overpaying employees who contribute nothing or continually mess things up can lead to the downfall of the company. Implement operating procedures and ENFORCE THEM. This is particularly important to a potential lender. A lender needs to know that you are IN CONTROL of your company, especially if they are going to base part of their decision to lend on your ability to run the rganization.

7.    Do not put a lot of money into new products or ideas until you have adequately researched your market to ensure there is a demand for it. If a portion of your funding request is based on new products or services, make sure that you have done the research and provide the lender with the backup you based your decision on.

8.    Determine the SWOT (strengths, weakness, opportunities, threats) for your business. Aim to resolve any weaknesses and avoid threats now and those predicted to arise in the future. Detail the strengths and opportunities in your business plan, but be prepared to respond to any questions relating to weaknesses that may be noticeable to the

lenders.

9.    Have detailed plans for success, instead of merely aiming not to fail. The more realistic you are with your outlook for the company and the more detailed your plans, the more likely you are to notice signs of financial troubles to come. Many businesses that fail do so without seeing signs that were obvious to others. This is something the underwriters will do anyway, however, if you take the time to prepare a detailed plan, go over it with the underwriters, this will be an opportunity for you to head off a

possible obstacle. Many underwriters will just deny funding if they feel you don’t believe a problem could exist and do not have a plan if one does arise. Underwriters, in this time of financial crisis will err on the side of caution. You need to make them feel comfortable that you have IN PLACE, a contingency plan.

10.    Perhaps the biggest key is to properly monitor expenditures and stock. Know on what every penny is being spent and verify that it is essential, cutting out as necessary. Ensure that every item you stock is worth the space it takes, and every item is accounted for. Now is not the time for loose monitoring or spending on luxuries. It’s time to ensure that your expenses are covered.
About the Author:

Frank Joseph is principal of Frank Joseph Associates which focuses on the economic crisis. For more information on surviving the Financial Crisis please go to http://www.business.financebusinessadvice.com