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Category - Sales

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1
What To Do In a Financial Crisis
2
The A C D B’s of Business
3
Create systems for better customer service
4
3 Ways to Increase Your Sales
5
Know your REAL Product

What To Do In a Financial Crisis

Touch wood that you never experience a financial crisis in your business.

However, it happens, and it happens to the best of us. No matter how much you think you are on top of your game, sometimes you take your eye off the ball, and sometimes one thing you never watched out for jumps up and – Wham! A financial crisis hits your business – a major account receivable goes belly-up and with it, takes your profits and future cash flow. Or perhaps an employee walks out and takes your business, or maybe even commits fraud over some time and leaves you with a big cash hole. Perhaps you may even have been (or should have been!) aware of a trend that kept getting worse, business fading away?

If this ever happens to you the first thing is to work fast. Stop feeling sorry for yourself and work out a plan quickly.

Put yourself in the big picture.

When crisis happens, it is tempting to burrow down to find the “fault” and to try to fix it. However the “fault” is often a symptom and if you pour effort into it, this may be too little too late.

Better to take a brief step back and see the big picture – make sure you accurately assess your business’ and your own assets and liabilities, make sure you understand your overall income and expenditure. Looking at the big picture can give you a better idea of what happened and why – not just the end results. Understanding your assets and liabilities and income and expenditure should give you some ideas about what resources you have, what risks you need to take care of, and what you can do to stem the flow.

With a good understanding of what happened and how it happened, and knowing what your resources and capabilities are, set yourself some short-term and medium term financial goals. Read More

The A C D B’s of Business

It came to me in a cone of light.

Business is as  easy as A C D B!

As you know I have spent my consulting career synthesising my learning and experience into procedures that you can use in your business. Why reinvent the wheel when you can use tried and tested practical experience backed up by academic study in proven processes?

Recently it struck me how all of these processes – marketing, customer service, brand development, business planning – followed a big-picture model. And this model is as simple as a mixed up alphabet – A C D B!

Once you work it out, every business moves along the same path.

You first have to Acquire leads. Then you have to Convert those leads into warm customers. Having customers you need to Deliver your product or service. Then as your customer makes their first purchases you need to Build relationships so that they keep buying.

The acquisition of leads is all about marketing. You need to know about your sales funnel and the difference between broadcasting to potential customers who may not yet be aware of you or your product and the act of screening and targeting those potential customers. Acquisition involves knowing your product as well as your customer.

What do I mean by that? Read More

Create systems for better customer service

Have you ever received truly exceptional customer service? What was it like and why did you think it was exceptional customer service?

Each experience is different but I bet you can tick off a couple of common characteristics in what happened:-

  • You felt individual attention
  • You felt that every detail of the service or product was meant for your satisfaction
  • You felt that whatever you received was timely
  • You felt that you not only got the product or service, you got that extra something that accompanied it.

Am I right?

Firstly do you see it is about what you felt? Exceptional customer service is not only about the quality of the box you bought, it is about how you felt during the transaction.

Secondly it is about “extras” – and these need not be something tangible like a bonus product. In customer service “extra” is about listening to you as an individual and perhaps providing nothing more extra than a courteous word.

Yet people also get it wrong don’t they? For every instance of exceptional service I would bet you have 10 examples of poor service.

If only every business realised that excellent customer service is not about spending more money or even putting in more effort – it’s about being consistent and predictable in what you offer. That’s it! Consistency and predictability!

Watch this video to see why you should implement simple systems that create excellent customer service.

Now let’s get back to how you should make your customers feel and how that can be done with some simple systems.

Read More

3 Ways to Increase Your Sales

teik-oh-standing-wall-left-mediuTell me if this sounds familiar:-

For some reason, perhaps you want to increase profits or you just want to grow your business, you sat down and decided you needed to increase your sales by setting a new sales target. Having worked out what sales you need to increase your profits or grow your business, you look at your new sales target – at how much you need to increase your current sales by – and you went “Oh crap!”

The increase in sales is scary! Oh my goodness, increasing my sales by 30% sound alright but that’s an extra $600,000! How the heck am I going to do that???

This video tells you exactly how to do it in three different ways that leverage up to a substantial increase in sales.

Remember all sales are made up of three components:-

Read More

Know your REAL Product

teik-oh-sitting

In order to market your product or service effectively, you need to understand what is your real product.

Your product or service is not a list of features. I have heard so often people describing their product or service to me as a whole bunch of features:-

“It’s made of the hardiest materials”

“The design of the micro-circuits came from Germany”

“Our accountants prepare your tax return using their skill”

“The contracts our lawyers draw up include all the legal requirements”.

Features don’t sell products. Customers don’t look for features, they look for the benefits your product provides them and that meets their needs. No one needs “hardy materials” or small German circuits or a skillfully prepared tax return, or even a contract that contains everything it should. People buy something that “lasts forever”, a device that’s small, a tax refund, legal peace of mind.

This video below provides the how and why of getting to know your real product.

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