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This Ain't Your Father's Recession!
Most of us small business owners have never experienced economic times like these, but there are specific things we can do to not just survive, but thrive, through this period of uncertainty and economic downturn.Here is what I call the "Delightful Dozen" steps to take along the road to recovery, no bailout required! I can almost assure you that your competitors are not doing this...
- Barter your products or services. There are barter companies to help you or you can barter one-on-one. Last year saw a barter increase by small businesses of a billion dollars over 2007.
- Accentuate the positive. Watch the use of negative words such as can't, won't, you claim..., and problem. And today, like no time in the past, be careful with, "Can I be honest with you?"
- Play the name game. Learn and use your customers name at every opportunity.When you're on the phone, jot it down phonetically so you pronounce it correctly.
- Identify yourself first. When calling a customer always identify yourself first. This establishes your sense of confidence, saves time, and eliminates confusion.
- Little things do mean a lot. Send a hand written thank you (worse case, e-mail) note; make an occasional "how ya doin'?" call; remember dates important to them; how about sending a thank you on the anniversary of their becoming a customer?
- Prevent "Policy Poison." If ever there was a time for flexibility, this is it! Examine your policies -- are they addressing the realities of this economy? Or were they put in place when finances, money and consumer moods were more positive?
- "Thought you'd be interested..." If you notice an article, advertisement, notice, concerning a customer's interests, personally or professionally, send it along to them.
- Be visible. You've been blessed to have a business -- give back to your community through involvement and/or philanthropy. And one of the happy coincidences of life is that, although gain is not your motivation, your business will be enriched as well.
- Remember the "Platinum Rule." Hopefully we're all practicing the Golden Rule in our business. The only better way to treat customers is to learn how they want to be treated (It may not be exactly the way we want to be treated) and treat them that way.
- Welcome complaints. Incredibly, research says that 96% of unhappy customers don't complain. I don't believe that's true -- it's just that they don't complain to us. Unhappy customers who don't complain remain customers, just not ours!
- You absolutely must treat employees the way you want your customers treated, or better! And remember, your attitude will be copied. Attitudes are contagious -- is yours worth catching?
- Beware of "WAD-IT-W". WAD-IT-W is an acronym for the six words that will almost guarantee that your business will crash and burn on the road to recovery -- "We've Always Done It This Way!" I've already mentioned "Policy", now I'm referring to all the "little things" that we take for granted; follow-ups, appearance, referrals, testimonials...
- How did a #13 get on a "Delightful Dozen" list? If you know "Lagniappe", you know how! It's a Cajun word (pronounced LAN'yap) meaning "that little something extra." It's derived from the practice of Mississippi River grain traders giving an extra shovelful of grain as a way of expressing their thanks. Lagniappe is more than a nice touch and it's something we all can do.
Roy Lantz is a speaker, seminar leader and author of Never Beat the Boss at Horseshoes... and The Care and Keeping of Customers.
