Keys to Business Success: Repeat Sales, Referrals and Support

Submitted By: Lee Percival

Here are key indicators of how your business is doing. If you believe in repeat sales, referrals and strong support, then your business will grow, not dry up over time. Why? Because customers have a certain level of expectation when it comes to delivering your business to them. If they do not get what they expect, then chances are high that they will not return. Ever. So, how are you doing in these areas?

Keep Them Coming Back. Repeat business is invaluable, because you do not have to go through the initial vetting process on the part of the prospect. They already know how your business operates and feel comfortable in placing orders with you inside of the structure that you have set up. This is why you should implement an 800 number and PBX system into your business as soon as possible. The ability to present a unified and consistent way of contacting you gives your customers confidence in who you are and the way in which you operate.

Obtain Referrals. When you deliver at a high level, word gets around. In fact, referrals are common among businesses that have a strong reputation. Also, when you establish your business that attains to a high level of satisfaction, you can safely ask for referrals. Most clients are more than happy to make referrals since their own experience is positive.
One way you can encourage those who call your 800 number and PBX system is to place ‘on-hold’ advertisements which are actually short, to the point recommendations of your business by your existing clients. While this does not encourage those on the outside to call, it helps give confidence to those who are in your PBX system awaiting to be transferred or who are on-hold in order for you to check on an item for them.

Supply World-class Support. At no time is this more important than right now. With current economic conditions the way that they are, you cannot afford to lose business or miss out on business because support efforts are less than satisfactory. Going out of your way to help keep a client happy will keep them as a repeat customer for a very long time. Learning that sometimes you have to take a ‘hit’ for a mistake makes your customer all the more appreciative of the way in which you operate.

Making your 800 number and PBX system shine in the area of support means having an information presentation system by which existing customers can listen to fixes or suggestions to common issues that come up in the course of doing business with you. Then, providing a way in which they can talk to a real person with the ‘follow-me’ feature of your PBX system helps endear them to you more than ever.

With these principles, you can help your business continue to grow and thrive in uncertain times. Success rises to the top when attention to details is the hallmark of your business. Keep going and paying attention to these details. You will make it!

Seven Meeting Etiquette Rules Not To Forget

Business meetings are held for a variety of reasons, but one common characteristic is the sharing of information with others. As in dining, there are rules of etiquette that go along with meetings. I cannot believe the number of times I have been to meetings and some individuals in the room exhibit unprofessional business etiquette.

I recently was leading a meeting of business owners and managers who meet together to generate ideas and resources for growing their businesses. One person’s cell phone rang in the middle of a presentation and instead of silencing it, they answered the phone. Not only did they answer it, they carried on a conversation for a brief time. I was appalled at the lack of courtesy.

I think it would probably be true to say that most people in business are aware of etiquette rules for meetings but I thought I would share my top seven:

~~Do not put your Blackberry, Treo, or other email organizer on the table. What does this do? Every time an email is received it causes a vibration that is echoed through the table for the whole room to hear and causes as much a distraction as if the phone had rang. Turn it off.

~~Do not arrive late, make excuses to everyone while the presenter is speaking, and then go in search of coffee. If you arrive late, step in quickly and quietly while taking your seat. The less interruption the better.

~~Do not leave your cell phone turned on. This goes along with #1. We all know what an interruption this causes.

~~Do not talk on your phone during the meeting. Just in case you forgot to turn it off, do not answer the phone in the middle of a meeting.

~~Do not carry on a conversation while someone else is talking. I cannot believe the number of times I have witnessed someone trying to carry on a conversation with another in the middle of a presentation.

~~Do not come to the meeting unprepared. Prepared means in the way of carrying a pen, pencil, paper, notepad; whatever it takes for you to be ready if information is shared.

~~Do not make your presence known by making noises. Noises being pen or pencil tapping, paper shuffling, coughing continuously. If necessary, leave the room.

If you are a manager and have people who frequently display a lack of business etiquette, consider offering a mini-seminar to your department. Not only will it reinforce positive behavior but it will get your message across without you verbalizing it.

For those individuals hoping to aspire to a certain level in business, learn and practice good business etiquette. If portrayed correctly it will help to launch your position in business and you will always be a welcome presence with your peers.

articles by: Carole DeJarnatt

Why Jewellery Party Businesses Fail

Jewellery party businesses are a dime a dozen. Every woman knows someone who runs parties; every woman has been to one at a friends house; every stay at home mom has thought of running her own parties to make some quick and easy money. It's one of the easiest businesses to launch, and one of the most likely businesses to fail.

Running jewellery parties is the offline equivalent of an eBay business. Anyone can get involved, and they can do so at little or no cost, with little or no business experience, and without anything resembling a business plan. There's no job interview, no skills requirements, and no large capital outlay. Just like eBay businesses, there is a small percentage of party organisers who make a reasonable income, an ever smaller percentage who do very well indeed, and a huge majority who cease trading after about six months, with little to show for it but a sense of failure and dissatisfaction.

Those who fail do so for a number of reasons, but the failure almost always follows the same pattern. The first party is dubbed a success, if not a great one. Turnout may have been good, sales solid, and a modest profit made. The second party is less of a success. Only half the number of women turn up (many of whom were at the first party), they purchase less, and the party organiser is lucky to break even. The third (and usually final) party is a complete failure. Turnout is in the single digits and no one stays long. They drink some wine, look at the jewellery on display, maybe buy one of the cheapest items because they feel they have to, and then leave.

At this point, the party organiser usually decides to throw in the towel. They lay the blame on the business model itself, the weak economy, or the difficulty in attracting crowds. They never place the blame where it truly belongs: at their own doorstep. Jewellery party businesses are businesses, not hobbies - just like an eBay business is a business, and an eCommerce store is a business. The fact that it's possible to start your business on a whim from your own home does not mean it can succeed on a whim. The same skills required to run successful bricks and mortar businesses are required to run successful party businesses.

So why do jewellery parties fail?

There are four main reasons for the lack of success of so many party businesses. They are: over pricing, selling to the same people at each party, sourcing only the cheapest of stock, and not changing or updating stock often enough. A fifth reason could be added, and it could be called the source of the other four. It would be: Not treating the business as a business.

Before getting involved in jewellery parties, you should ask yourself one question: Do you have, or are you prepared to learn, the skills needed to run a retail business? If the answer is no, your business will fail.

articles by: James S. WalshJewellery party businesses are a dime a dozen. Every woman knows someone who runs parties; every woman has been to one at a friends house; every stay at home mom has thought of running her own parties to make some quick and easy money. It's one of the easiest businesses to launch, and one of the most likely businesses to fail.

Running jewellery parties is the offline equivalent of an eBay business. Anyone can get involved, and they can do so at little or no cost, with little or no business experience, and without anything resembling a business plan. There's no job interview, no skills requirements, and no large capital outlay. Just like eBay businesses, there is a small percentage of party organisers who make a reasonable income, an ever smaller percentage who do very well indeed, and a huge majority who cease trading after about six months, with little to show for it but a sense of failure and dissatisfaction.

Those who fail do so for a number of reasons, but the failure almost always follows the same pattern. The first party is dubbed a success, if not a great one. Turnout may have been good, sales solid, and a modest profit made. The second party is less of a success. Only half the number of women turn up (many of whom were at the first party), they purchase less, and the party organiser is lucky to break even. The third (and usually final) party is a complete failure. Turnout is in the single digits and no one stays long. They drink some wine, look at the jewellery on display, maybe buy one of the cheapest items because they feel they have to, and then leave.

At this point, the party organiser usually decides to throw in the towel. They lay the blame on the business model itself, the weak economy, or the difficulty in attracting crowds. They never place the blame where it truly belongs: at their own doorstep. Jewellery party businesses are businesses, not hobbies - just like an eBay business is a business, and an eCommerce store is a business. The fact that it's possible to start your business on a whim from your own home does not mean it can succeed on a whim. The same skills required to run successful bricks and mortar businesses are required to run successful party businesses.

So why do jewellery parties fail?

There are four main reasons for the lack of success of so many party businesses. They are: over pricing, selling to the same people at each party, sourcing only the cheapest of stock, and not changing or updating stock often enough. A fifth reason could be added, and it could be called the source of the other four. It would be: Not treating the business as a business.

Before getting involved in jewellery parties, you should ask yourself one question: Do you have, or are you prepared to learn, the skills needed to run a retail business? If the answer is no, your business will fail.
articles by: James S. Walsh

10 Tax Deductions For a Small Business

Almost 90% of small business owners overpay the IRS each year – do you want to belong to this category? We guess not! There are a number of tax deductions for a small business to take advantage of, and help save them money. Here are the top 10:

1. Auto expenses: If you use your car for business, or your business owns its own vehicle, you can deduct some of the costs of usage. If your automobile is used for both business and pleasure, only the work related usage of the vehicle entitles the business to a tax deduction. That means you must keep track of how often you use the vehicle for business, and add it all up at the end of the year.

2. Education expenses: Expense incurred on education, related to your current business, trade or occupation is another cost that can count towards tax deductions for a small business. Of course, there are strict guidelines to be followed - the expense must be to maintain or improve skills required in your present career and must be undertaken during the course of your job.

3. Legal and professional fees: Fees paid to lawyers, tax professionals or consultants generally can be deducted in the year in which they are incurred.

4. Business entertaining: If you pick up the tab for entertaining present or prospective customers, you may deduct 50% of the cost, while calculating taxes. This should be directly related to or associated with the business, and the entertainment must take place immediately before or after a business discussion. Remember to write down the purpose of the event on the receipt or bill.

5. Travel: Travel costs also count towards tax deductions for a small business. If you travel on business, you can deduct most of the expenses including the cost of air fare, car rentals, taxis, lodging, meals, shipping of business materials, telephone calls, faxes and tips. But if you take your family along, remember, you can only deduct your own expenses.

6. New equipment: Some small businesses can write off the full cost of assets in the year in which they are bought. You can deduct up to $108,000 for a single piece of equipment or from the cost of various items as long as the equipment is placed in service before the end of the year.

7. Interest on loans: The interest and carrying charges on business loans are fully tax-deductible. Be sure to keep good records showing that the money was really put into your business.

8. Moving expenses: If you move because of your business or job, you may be able to deduct certain moving costs that would otherwise be non-deductible personal living expenses.

9. Charitable contributions: Here’s an expense that serves two good purposes. Charitable contributions are allowed as tax deductions for a small business. When your business makes a donation, claim a deduction on the tax return.

10. Advertising: The cost of advertising your goods or services is also deductible as a current expense.

Finally, keep an eye open for the latest on tax deductions for a small business, since laws do undergo changes. Even more important is to ensure that your financial records are maintained well.

articles by: Akhil Shahani