Business Education

How to (Re)Establish Business Relationships Post Shutdown

As you reopen your company, people you previously did business with might or might not return with you. Or, it could be the same people, but in different positions, not necessarily having the same latitude and/or resources at their disposal. These individuals, vendors or customers, will most likely continue their relationships, but it will probably be one that’s changed. So, you’ll need to re-establish said relationships and do so in a thoughtful and careful manner.

Why Business Relations are Now more Important and Fragile than Ever

Of course, whether or not you’re dealing with the same individuals and/or roles Will depend on a number of factors. It’s important to understand and accept the fact that you have no control over these situations. That means you’ll have to make adjustments on your end, in order to make the relationships work. Hopefully, the people you deal with will have some say of their own, but it’s best to hope for the best and plan for the worst.

In the early months of 2020, the COVID-19 pandemic prompted wide-sweeping shutdowns and shelter-in-place orders across the United States. Now, as parts of the country look to start relaxing these strict measures, small business owners need to think about what’s next and how they will adapt and move forward safely and sustainably. —U.S. Chamber of Commerce

As you reopen, some of the individual vendors and customers you previously worked with might not come back. Also, there’s the inevitability of personnel change among vendors you worked with prior to the shutdown. This means they’ll be some level of give and take, and you’ll need to temper your expectations from time to time until the new relationship takes form.

How to (Re)Establish Business Relationships Post Shutdown

Going forward, This new and strange dynamic will present its own set of challenges. But, with a bit of patience, tact, and along the way analysis, you can either establish new business relationships or re-establish old ones. Here’s how:

Reach out. Obviously, this is where you’ll start. Reach out to those you had the strongest relationships before. Then, to others and go down the list to eventually get to those you only occasionally worked with prior to the shut down.
Listen carefully. When you do speak to vendors and customers, make a conscious decision to actively listen. Don’t give into the urge to carry on about your business. Instead, take the time to listen carefully to them and learn about their circumstances.
Communicate clearly. By the same token, be honest about your situation, exactly where you stand, and where you expect to be in the near future. In short, under promise and over deliver.
Offer Meeting options. Not all clients, customers or partners will feel comfortable meeting in person so offer them options. We have asked our clients; would you prefer to do a video or ZOOM conference or have us meet you in person. Just asking shows you are sensitive to their concerns.
Pay on time, every time. Also, be sure not to get too far ahead of yourself so you’re always in a position to pay on time, every time you receive an invoice. Otherwise, you’re opening yourself for trouble.
Refer good vendors to others. Another thing you can do is to refer your favorite vendors (and customers) to others to show your appreciation.

What other suggestions do you have? Please share your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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Most Effective Ways to Improve Customer Satisfaction

March 27, 2019 No Comments

Improving customer satisfaction is a never-ending pursuit. It’s not like any company can fully reach 100 percent customer satisfaction. Although, that certainly doesn’t mean it isn’t worthwhile to strive for as high as rate as possible. So, just how do you improve customer satisfaction? Best Methods to Improve Customer Satisfaction Let’s start from a realistic baseline. We’ll blow-up the old adage, “the customer is always right.” Because, we all know, this is a good rule of thumb but isn’t universally true. However, it’s equally as true, happy customers help sustain and create additional business. As business owners, we’d all like to think of ourselves as providers of great customer service. As small business owners in particular, it’s quite possibly your biggest differentiator. After all, how often is it that you walk into a national chain restaurant and are greeted by name, handed your favorite drink and made to feel like part of the family? But great customer service is also about knowing how to handle problems, responding to and resolving issues—something at which agile small businesses can often excel. —U.S. Small Business Administration One of the best ways to improve customer satisfaction is to eliminate repetition. Now, this is a difficult task but it’s not impossible. A full 72 percent of consumer attribute poor customer service to having to explain their problem to multiple people. Meaning, people seriously dislike repeating themselves to multiple employees. Instead, funnel such situations straight to where they must ultimately go. Most Effective Ways to Improve Customer Satisfaction Now, that’s a huge piece of improving customer satisfaction. But, it isn’t the only way you can make your customers happier. Here are a few more helpful suggestions: Monitor social media. An old statistic states if someone is dissatisfied, they’ll tell 7 to 10 people. But if pleased, will only tell between 2 and 3 other individuals. Today, those numbers are much larger due to social media. So, that’s a key place to follow. Lend a helping hand. Somethings require a bit of a learning curve to understand and eventually master. If you are selling something requiring a learning curve, offer a means to explain it. A manual or a video will work nicely. Give customers rewards. No, not every customer should receive a reward. But, your most valuable definitely need such adulation. If possible, make it personal for an added touch. Provide flexibility. Along the same lines of eliminating repetition should be the ability to offer flexibility. Simply put, give more team members the power to make decisions that can resolve issues. Prevent problems. Another great way to improve customer satisfaction is to prevent problems. For instance, if someone purchases two items and they aren’t compatible, offer a heads-up and alert them. What other practices improve customer satisfaction? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Build a Positive Brand

May 16, 2017 No Comments

One thing that makes companies successful is branding. We see it everywhere and all the time, from television spots, to radio ads, to catalogs and other marketing materials, businesses put out impressions of themselves to the public. The reason for branding is obvious but it’s not necessarily an easy task. It requires differentiating an entity from its competition to make it instantly recognizable to consumers. A brand has to not only be recognizable, it has to live up to its self promotion and establish a reputation that’s commensurate with its marketing. There’s practically little else which can destroy a company faster than having a bad reputation. Even the most effective branding won’t allow a company to escape bad publicity or a negative consumer image. Small business owners might not believe that branding is necessary for them precisely because of their small size; however, in a world that is digitally centered, that’s simply not the case. No matter the size of your organization, it needs a positive brand to help propel it forward. Ways to Build a Positive Brand To build a positive brand, you’ll need to think about the future–it’s what you do now that’s most important. There are defunct companies that doomed themselves by not being aware of the image they were presenting. Relying on gimmicks is another mistake. Companies that place their marketing efforts into gimmicks usually have little else to offer, and, that’s a precarious position. Being genuine and offering good service with a positive attitude are great ways to build a brand. Our personality and professional image sets the tone and stage for how we are all perceived. With the reality of a 24/7 online media world that can change things in a real-time split second, one small wrong move or right move can go viral and change everything. —Small Business Trends To keep your business growing, you have to employ more than one tactic. There are new customers to be found and try your products and services over competitors, and, it’s your brand that will help to convince them to do so. Here are a few ways to build a positive brand: Create a positive work environment. Your brand starts from within your organization. Remember, your employees have lives outside your company and talk to people about work. This is why it’s important to facilitate a positive environment. After all, people won’t give you any business if they’ve heard bad things from insiders. Have a clear and easy-to-follow customer service protocol. Your team members are one of the most powerful sales tools you have. The better they deliver, the better your company does. When it comes to customer service, everyone should know how to respond and to do so in a timely, polite manner. Offer something for nothing. People like free things, practically no matter what they are: great content that is helpful, complimentary items, discounts, and other things can have a big impact. What’s more, if you do this on a regular basis, it will create a positive impression. Make a commitment to your community. Volunteering is something every leader should do and not just for the sake of networking. When you volunteer, you send a very powerful message about yourself and your company. Another thing you can do to create a positive brand is to always follow-up with comments and reviews. Good or bad, these are helpful and the way you deal with comments and reviews will say much about your business. [shareaholic app=”follow_buttons” id=”26833294″]

During the Coronavirus Quarantine, Communication is Key

April 1, 2020 No Comments

With the massive disruption the coronavirus has foisted on businesses and consumers alike, it’s more important than ever to keep an open line of communication. While many focus on the need for telecommuting or teleworking, they do not highlight on the very vital role of maintaining good relationships with not only customers, but vendors, and peers as well. What the Coronavirus Quarantine Teaches Businesses If COVID-19 teaches businesses large, medium, and small anything, it’s the fact to always expect the unexpected. Or, be prepared for as many contingencies as possible. While you can’t proactively guard against every single scenario, there are situations which your business should be equipped to handle. For instance, natural disasters, criminal activity, and of course, epidemics or as we’re experiencing now, a pandemic. Because nobody can predict what will happen next with the coronavirus, this causes great uncertainty. And this uncertainty has a direct impact on businesses. The only thing they can do is try to prepare for all outcomes. —JD Supra This isn’t by any means easy, but it is necessary to at least have a framework to deal with emergency situations, particularly those that have a long-term impact, such as the one the business world is experiencing right now. If you aren’t prepared, it will have a more disastrous impact on your company than it otherwise would. How to Maintain Business Relationships during a Time of Crisis When catastrophe strikes, it can come in many forms. If you’re business is able to continue operations, even in a very limited capacity, then it’s of utmost importance to keep lines of communication open with everyone. Here are a few helpful suggestions for how to do just that: Reassure employees. Although no one can predict the future, you do need to be upfront and honest about your situation with your team members. While you don’t need to paint a doomsday scenario, you do need to let them know where things stand and what’s likely to happen. Reach out to customers. Many churches around the country are digitally broadcasting their weekly messages. And, some are even taking it a step further by personally phoning every single member. You can do the same with your customers, starting with the most valuable. Give them a call personally, or have employees join you to touch base with everyone. Speak with your vendors. This is basically the same idea. But, here you’re doing two things — giving them a heads-up of where you stand and inquiring as to what they are doing and have planned for the near future. Take some time to reflect. You should also take advantage of any downtime to do a little introspection. Use the opportunity to unplug in a quiet place and think about your next course of action and how you can improve your business. What other suggestions do you have? Please comment to let everyone know about your thoughts and experiences! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to (Re)Establish Business Relationships Post Shutdown

Why Business Relations are Now more Important and Fragile than Ever

How to (Re)Establish Business Relationships Post Shutdown

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Most Effective Ways to Improve Customer Satisfaction

How to Build a Positive Brand

During the Coronavirus Quarantine, Communication is Key