Category: Startups

Be One with the Fish

Be One with the Fish

In the last post we started our series on catching big clients, or “fish”, that will sustain your business over the long run. Today we’re going to take that a step further by talking about how to understand and think like a big fish company and how that can help you plan your approach and find success.

Before you can start the process of landing big clients, you have to make sure your entire team is onboard with your approach and vision.

There are six keys to finding big client success. They are:

  1. First Impression:
  2. You must remember you have one shot to land a big client. If you make a mistake, they aren’t going to consider you again. Never give them a reason to doubt your abilities.

  3. First Priority:
  4. Your fish must always feel like they are your first priority. Returns calls and emails immediately and find solutions to their problems or questions as quickly as possible.

  5. Flexible:
  6. You need to be flexible in your negotiations. If they need a special service or for you to customize a product, say yes for the benefit of the long term. A little hassle now will be a big pay off later.

  7. Long-term:
  8. This goes along with the last one a bit. As you are approaching and negotiating with big fish you need to think about the long term benefits for your business. If you go for a ones-time big score you will lose their interest.

  9. Have Fun:
  10. Work should be fun, even when trying to land big clients. In fact, this should be the most fun. You are sharing your vision with new people and including them in your future success and likewise. People simply work better in a fun, happy environment. Your passion will also be contagious and pull the fish into your vision even more.

  11. Help Them:
  12. If you take just a little bit of time and offer your clients ways to save money or time by introducing them to potential business partners, this will show you really are invested and interested in their business. Strive to find balance between your business needs and your client’s needs.

There are also a few tactics you can use to bring in a big-company vision to the people on your team. You can:
  • Post these six keys for all to see.
  • Put together a performance based incentive program.
  • Conduct frequent team meetings.
  • Use a “right now” policy that dictates big fish calls be answered immediately.
  • Offer awards/recognition for big-company ideas and executions.
  • Put together a training and certification program based on the six keys above.

These 6 keys and tips will help you instill a big-company mindset through your company which will help you be more prepared and more likely to land your big fish. Once your team is thinking this way, you’ll be unstoppable.

If you need help putting together an incentive program or other way to push your team toward the big-company mindset, try our FREE test drive to work with one of our coaches or check out our resources and tools.

Are You On The Right Path?

Are You On The Right Path?

There are a number of factors to take into consideration when prepping yourself and your company to approach the largest clients you’ll ever work with.

Today we’re going to start with a brief look at the three paths every business faces and show you which one is the path to success. Then we’ll talk about the mindset it takes to attract the big fish.

There are three major paths a business can take:
  • Snail Speed
  • Shooting Star
  • Catch the Big Fish

Snail Speed

Most business owners ended up working themselves into the ground without much reward or success. This is what happens when you fool yourself into thinking you will find quick success. You may also find yourself following this path when you are afraid of change.

Shooting Star

This describes a business that shoots to the top so fast you are overwhelmed and don’t have the right resources in place to adapt. This can also happen from being overwhelmed by small clients and not taking the time to find large clients, which will sustain your business after the small client sales slow.

Catch the Big Fish

This is the path that allows you to build at a steady pace that you can manage by not allowing your customers to outpace you.

You can do this by putting these tips to work:
  1. Attract, keep and lock in big clients.
  2. Integrate “big business” culture into your company and employees.
  3. Acquire the expertise you need to grow.
  4. Have the courage to make changes as you grow.

Now we are going to transition a bit and talk about the “big fish” mindset. It may sound easy to just find and catch that big fish, but if you are stuck in the small business mindset, you may find it harder than you think.

Think of all the benefits of aiming at bigger clients:
  • Inexpensive
  • Highly Profitable
  • Longevity
  • Security

In order to catch the big fish, you need to believe your company can make a difference with theirs. It’s easy to get into the thought that a large company doesn’t need anything from a small business like yours, but this is entirely wrong!

Once you take a look at how big companies operate, it’s important to know which ones are the best fit with your company. One of the best ways to get in the door is by knowing someone on the inside who can put in a good word for you.

If you’re not sure where to start and feel a little intimidated about catching big fish, try our FREE test drive to get help from our amazing business coaches.

Are You Growing By 1%?

Are You Growing By 1%?

The Rule of 1% is simply defined as improving your customer service by one percent at a time. Before you can do this, you must have your consistency perfected, or it will never work. Though one percent may seem small, if you approach the vision for your company with incremental steps, you will notice a significant improvement over a substantial period. Remember, it’s not a sprint; it’s a marathon.

Avoid trying to do too much at once, as it can set you up for failure. Consider the confidence you and your employees will gain when you make a one percent improvement each week. By the end of a year, you will have achieved more than a 50% improvement!

While rules and standards are necessary for growth, it’s essential to remain flexible with your best customers. Many retailers limit the number of items customers can take into a dressing room to reduce the risk of shoplifting, but this policy often inconveniences a large percentage of people who are not stealing from you. Flexibility is the key to delivering what your customers need, while consistency is crucial for how you deliver it.

The bottom line is that customers depend on you to deliver what you promise. If you invest too heavily in extravagant advertising that makes commitments beyond what you can fulfill, even with the best intentions, your efforts will unravel swiftly, leading to failure.

Focus on your vision and take small steps to transform your satisfied customers into raving fans.

I hope you have learned a lot about the importance of good customer service for your overall success. If you need assistance with any of the steps we’ve covered in the last four lessons, consider trying our FREE test drive, which grants you access to some of the best resources, tools, and coaches available.

In upcoming posts, we will explore strategies for acquiring and retaining major clients.

Deliver + 1

Deliver + 1

In the last post, we discussed how to figure out what your customers want from a positive shopping experience. Today, we’ll explore the concept of ‘Deliver +1’ and how this concept can elevate your customer service to the next level. I’ve decided to split up this post, so the next one will cover the ‘1% Rule’.

Consistency is the key to delivering a remarkable customer service experience. To transform satisfied customers into Raving Fans, you must surpass the typical customer service standards.

There are three ways to develop consistency:

Avoid offering too many customer service options.

Sometimes, we become so preoccupied with meeting customers’ immediate desires that we deviate from our original vision. Instead, it’s essential to remain faithful to your vision and focus on implementing one or two robust customer service techniques that will distinguish you from the competition.

Before introducing anything new into the mix, it’s crucial to fine-tune your existing systems. There’s nothing worse than launching a new program without first addressing the issues in an old system.

Put solid systems into place.

After determining what you’re going to offer, it’s essential to establish a system capable of flawless execution every time. This system should involve the right people in appropriate roles and responsibilities, along with technology that ensures a consistently positive experience. Emphasis should be placed on achieving results, with the ultimate goal being customer satisfaction.

Good training is the key.

Once you have your system in place, it’s crucial to train people to use it properly and efficiently. This ensures that your team can deliver the results your customers are seeking. While training is essential for the system to function effectively and for your team to work together cohesively, showing appreciation will significantly contribute to your success.

I hope this has provided you with insights into establishing a high-quality customer service system. If you require assistance, consider taking advantage of our FREE test drive, which grants you access to a wealth of resources, tools, and coaching.
Another Secret Revealed

Another Secret Revealed

In the last post, we discussed the first secret to creating a robust customer service plan and how to determine your vision.

Today, we’ll discuss the second secret to transforming satisfied customers into Raving Fans: understanding your customers’ needs. To effectively serve your customers, you must know who they are, and demographics play a crucial role here. For example, an upper-class woman in her 30s will have vastly different expectations compared to a blue-collar worker in his 50s.

There are four main areas you need to consider and plan when figuring out what your customers want:
  • Listen to Your Customers
  • Ask Your Customers Sincerely
  • Offer More than Just a Product/Service
  • Know When to Ignore Them

All of these factors are essential when determining what your customers want from their shopping experience.

Listen to Your Customers

You need to listen to both what customers explicitly say and what they may imply. Sometimes, customers might request one thing but actually prioritize something else. For instance, if customers are asking for lower prices, you might discover that their primary concern is fast delivery.

Additionally, pay attention to your ‘silent’ customers. These are the ones who don’t complain because the service has been so poor that they’ve simply given up, feeling that their voices don’t matter. They sense being unappreciated, and if a competitor emerges, they’re likely to switch.

Finally, it’s important to pay attention to customers who respond with a simple “fine”. These customers resemble the ‘silent’ customers in that they’ve grown accustomed to poor customer service, leading them to provide a monotonous response.

Ask Your Customers Sincerely

If you lack sincerity when seeking their opinions, they’ll easily see through you. You might wonder about the customers who remain silent. In that case, you should pose sincere questions that prompt them to reflect on their experiences. Make them feel genuinely valued, which you should be!

Offer More than Just a Product/Service

Your customers seek more than just a product or service; they desire an experience that leaves them feeling satisfied. They evaluate every step of the process. When you acknowledge this and treat them as individuals, they will sense a genuine sense of belonging.

Know When to Ignore Them

You might believe that this goes beyond delivering excellent customer service, but in truth, you can’t cater to every need, and you won’t always be able to please everyone. It’s essential to establish limits and adhere to them. If your vision and company aren’t aligned with a customer’s needs, they may be better off seeking a solution elsewhere.

These are the steps and tricks for determining what your customers want and how you can utilize them to develop your customer service vision and plan.

If you find yourself stuck, consider taking advantage of our FREE test drive, and let us assist you through the process.
Shhh… I Have a Secret

Shhh… I Have a Secret

Customer service is a critical factor that can either enhance or jeopardize your business. Consumers have limited patience for poor customer service and quickly grow frustrated with long lines, attempts to reach a live person on the phone, complex return processes, or communication barriers due to language differences.

If you offer a straightforward, efficient, and enjoyable experience, customers will return to your business repeatedly. What’s more, they will share their positive experiences with everyone they know!

There are three secrets to good customer service, and the first one we’re going to address is understanding exactly what YOU want.

As the captain of the ship and the visionary for the future of your business, you need to have a clearly defined plan for your business, and that plan should include customer service.

There are three main goals you need to consider:
  1. Doing business with you should be easy for your customers. You can achieve this through advertised discounts, kiosks, your website, and other technology-based programs designed to assist them in shopping.
  2. Engaging in business with you should be a warm and pleasant experience. Your staff must be knowledgeable, approachable, warm, and patient. Customers should feel like they are receiving good value for their time and money. Perceived value goes beyond the price of the products and encompasses their entire shopping experience.
  3. Change your mindset and ask yourself, ‘How can I afford NOT to do these things?’ This shouldn’t be a question of expenses but rather about creating and retaining happy customers.
With these thoughts in mind, you should also consider a few factors when determining the specific programs and standards you’ll implement.
  • Share your customer service vision with the rest of your staff.
  • Connect your incentive programs and bonuses directly to customer service.
  • Monitor the level of customer service your staff is putting out.
  • Know when you can ignore what your customers want.
  • Continuously focus on your goals.

Now you have an idea of what to consider in order to meet those desires and create a positive customer service experience.

If you’re struggling to determine what you want, the tools, resources, and coaches in our FREE test drive can assist you in defining your company’s wants and needs in relation to customer service.

Add Some Compost

Add Some Compost

In the previous post, we discussed the first three of the 7 specific areas you need to consider in your franchise prototype process.

Here are all seven again:
  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

These 7 areas will fine tune your plan for the ultimate level of success.

Today we are going to cover the last four.

Think of building your business model as planting a tree. Initially, it’s small and fragile, and you might wonder if it will survive the night. However, by consistently watering, fertilizing, and nurturing it, your ideas will strengthen the trunk, and each of these strategies will grow into the branches of your now robust tree. Discovering the right support staff, employees, vendors/suppliers, and other relationships will enable your tree to flourish with leaves and flowers.

Management Strategy

The way you structure your management team is crucial not only to your growth but also to the happiness of your employees and, ultimately, your customers or clients. This strategy is results-oriented and relies on the system in place rather than solely on individuals.

In short, a management strategy consists of standards that encompass goals, rules, a mission statement, and other tangible elements that instruct your employees on how to act, guide your management in growing your business, and inform your customers or clients about what to expect.

All of these elements should be in perfect alignment with your business goals.

Employee Appreciation

You should create a people strategy that conveys your appreciation for your employees’ job performance and dedication to your business. It’s also important for them to understand the ‘why’ behind their specific tasks. This helps them establish a personal connection to their work, resulting in improved productivity and a more content workplace.

There are a number of strategies you can use to keep it interested at “the office”:
  • Performance Incentive Programs
  • Contests that reward high performance
  • Employee of the Month
  • Performance/Holiday Bonuses

These are just a few ideas you can implement. One of the most effective ways to show appreciation to your employees is by holding a meeting and asking them how they would like to be rewarded. Take some time to consider their input and implement the best strategy. To keep things fresh, periodically change the approach you use, so your employees are pleasantly surprised. Once they become accustomed to one incentive, it’s time for an entirely new approach.

You should foster a sense of community within your company, characterized by support, appreciation, and respect. The more an employee feels “at home”, the better they will perform and the higher their level of loyalty.

Marketing Strategy

Marketing is, of course, essential for the success of any business, but it must also work cohesively with the other strategies you’re employing. There are two major pillars of a successful marketing strategy: the demographic and psychographic profiles of your customers.

The psychographic information reveals what your customers are most likely to buy, while the demographic information tells you who they are. This can help you understand why they purchase specific items. Without this information, the quality of your business prototype becomes irrelevant.

Systems Strategy

There are three types of systems in every business:
  • Hard Systems
  • Soft Systems
  • Information Systems

Hard systems refer to inanimate systems or systems that lack ‘life.’ Soft systems, on the other hand, can involve living elements. Information systems encompass everything else, including customer data, product information, finances, and anything involving data and numbers.

Among all three systems, the most crucial is the soft system, as it encompasses the sales systems your business employs. Within your sales system, the two keys to success are structure and substance. Structure refers to what you sell, while substance pertains to how you sell it.

All three systems are vital to the success of your business, and though they have distinct roles, they must all collaborate to accomplish the task. This principle also applies to your entire business development program.

I’d like to take a moment to recap the ideas we covered in the business development lessons.

An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
  • Desire
  • Some capital
  • Projected a targeted profit
There are essentially three key roles that need to be filled to set your business up for success:
  • The Technician
  • The Manager
  • The Entrepreneur
The four different stages of a business life cycle are:
  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity
There are a few things we are going to talk about:
  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards
There are three main areas of business development:
  • Innovation
  • Quantification
  • Orchestration

7 specific areas you need to consider in your franchise prototype process.

Here are all seven again:
  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

We can assist you in addressing all of these areas and provide your business with a jumpstart that places you ahead of your competition right from the beginning. Utilize our FREE test drive, collaborate with one of our coaches, and gain access to a wealth of tools and resources.

The Corporate Puzzle

The Corporate Puzzle

These are the 7 specific areas you need to consider in your franchise prototype process:
  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy
These 7 areas will refine your plan for the highest level of success. In this post, we will cover the first three.

Primary Aim

In business development, it’s crucial to establish goals and envision the future. This vision should extend beyond the business, encompassing your personal aspirations. What do you dream about? How do you envision your path to success? Knowing and comprehending these factors will provide you with the motivation to begin and the resilience to persevere. Take a moment to jot them down and tape them to your desk for a constant reminder of your objectives.

Strategic Objectives

These elements are vital in elevating your business from surviving to thriving. All of these objectives should provide solutions for achieving your primary aim.

There are many things you can use to set strategic objectives, but here are a couple of the most popular:

  1. Money:
  2. Establishing financial goals is a powerful yet straightforward method to assess your progress at any stage. It’s easy to measure and simple to make necessary adjustments to achieve these goals.

  3. Worthy Opportunities:
  4. When contemplating partnerships and other business opportunities, it’s important to assess whether they will contribute to achieving your primary aim. The ones that will are the best opportunities to seriously consider.

The key to establishing standards and goals is not to limit yourself or cause unnecessary stress. Seek quantifiable metrics that allow you to measure your progress toward your primary aim. These are just two suggestions, but no matter which standards you set, pay close attention to the details, as they are one of the most significant factors contributing to your success.

Organizational Strategy

The strength of your organizational structure can significantly impact your business, so it’s crucial to invest time in building a solid foundation for your business to grow from. Typically, a company is structured around the roles and responsibilities that require daily attention and the personalities suited for those roles.

Regardless of the roles and responsibilities you’ve assigned to your employees, it’s essential to keep your personal primary aim distinct from your company’s primary aim or mission statement. Once you’ve determined the primary aim for your company, setting up a position structure that aligns with it will become straightforward.

Don’t forget to create position contracts. Your employees should sign a statement outlining their roles and responsibilities. This helps maintain clarity for you, the employees, and other employees, vendors, or individuals.

You can observe how these areas collaborate to establish a strong foundation for your business. If you require assistance in defining any of these aspects, you can explore the resources and tools available, and also consult with one of our fantastic coaches during your FREE test drive.

Mortar Makes it Happen

Mortar Makes it Happen

Today, I’d like to discuss the three keys to business development and how you can lay the right bricks to establish a solid foundation.

There are three main areas of business development:
  • Innovation
  • Quantification
  • Orchestration

If executed effectively, these three areas will assist you in constructing a solid foundation for your business.

Let’s briefly discuss each one.

Innovation

Innovation should not be confused with creativity, which is the expression of ideas. Innovation involves translating these ideas into action. This is where a significant portion of your focus should be, not only at the outset but throughout your business’s entire lifespan.

Quantification

This, of course, pertains to the numbers. We are referring to the value of your innovation. The most effective way to measure this is through customer response. Positive responses indicate what you are doing right, so continue with it. Negative responses highlight areas where you may be going wrong, and you should address those issues. This approach will enable you to keep evolving and adapting to the needs of your customers and the business environment.

Orchestration

After you’ve identified the areas that are working, you can narrow down those aspects and focus on transforming them into standout ideas. Shifting your focus in this direction allows you to optimize your business and fulfill the needs of your customers.

We can assist you in navigating these three areas to develop your franchise prototype during your FREE test drive.

In the upcoming lessons, we will transition to discussing the 7 specific areas you need to consider in your franchise prototype process:
  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

These 7 areas will refine your plan for the highest level of success.

You Turn Me Right ‘Round Baby, Right ‘Round

You Turn Me Right ‘Round Baby, Right ‘Round

The largest sector of turn-key businesses consists of franchises. There is a franchise for every industry in the world, and they are relatively easy to acquire, coming with pre-packaged, easy-to-assemble systems. McDonald’s serves as a prime example, with a staggering 12-figure number of 38,000 franchises.

There are a few things we are going to talk about:
  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

Business Format Franchise

The business format franchise originated from an earlier model called the ‘trade name’ franchise. The major change was in the rights. During the ‘trade name’ era, franchise owners only had marketing rights. Now, franchise owners have ownership rights over the entire business, including its systems. This shift in focus has allowed for a transition from relying on the quality and name recognition of the products that constitute the business to focusing on sales techniques that drive the business.

The Franchise Prototype

It was the franchise prototypes that truly enabled the changes necessary for today’s franchises to shine, thanks to the techniques developed by the owners rather than the corporation. This can significantly impact the franchise’s success, as the owner can customize their marketing and promotions to directly meet the needs of their local target customers.

Franchise Prototype Standards

Now, with that said, no one in their right mind would purchase a franchise if the parent company didn’t have a solid plan of action in place to ensure the prospective success of the business. Therefore, several standards are established to help jump-start the process of opening a successful franchise.

Build model of prospective customers/clients, suppliers, creditors and employees who will consistently offer high quality work.
  1. Build a user-friendly model that can be used by individuals of any skill set.
  2. Build a defect-free model.
  3. Build a model with Operations Manuals.
  4. Build a model that will provide guaranteed, consistent results.
  5. Build a model that encompasses the same branding in color, dress and facilities codes.

These are all methods by which the parent corporation ensures that their brand remains consistent and stays in the forefront of customers’ minds. When you purchase a widely-known brand, you will attract customers simply by being associated with it.

If you’re considering purchasing a franchise, speak with one of our experienced business coaches during our FREE test drive.