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Serving the Red Lake and Ear
FallsArea of Northwestern Ontario
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It's our desire to present a
monthly publication for small business owners that is timely,
relevant, interesting, and easy to read. We try to keep our pulse
on what's going on in the small business world, and base our
articles on information that can be applied to any small business
scenario. From time to time, we also get ideas from our readers.
This month, we'd like to solicit your ideas as we plan for future
articles. What issues are you struggling with in your business
right now? What subjects have we not covered that you'd like to
see addressed? What would be helpful for you to know as you
continue to grow your business? What would you like to tell us
about the magazine? Send us your thoughts and ideas and we'll
incorporate them into our future planning. This is your opportunity
to have a say in how Small Business Success is shaped in the coming
months. Please send your comments in an email to ingrid@ycw.ca. We
look forward to hearing from you!
Keep
Them Coming Back
So you've made the big sale, you've won the customer. For many
businesses this is the end goal, and once they've done that, they
move on to acquiring the next customer. This can be one of the
biggest mistakes you can make, because getting the sale is only
half the battle. Keeping them loyal is the other half. The energy
required to make the sale is much greater than the energy required
to keep customers coming back, yet many small business owners
don't take advantage of this surefire way to keep their businesses
strong with repeat customers. If you don't already have a customer
retention budget, you should consider it for your next budget year.
The money you invest will more than come back to you not only in
repeat business, but also in customer referrals. All it takes is a
little bit of creativity - and it can be a lot of fun. Watching
your customers respond to a great customer retention program is
reward in itself - but it's also nice to see the money follow. One
of the challenges of going above and beyond in order to keep your
customers coming back is learning to think about it all the time,
with every sale. If you've never considered customer retention as
part of your business plan, here are some ideas to get you
started.
- A car salesman I know puts a bouquet of flowers in the trunk of
every new car he sells, knowing that someone who's just bought a
car takes it home to show it off. When they open the trunk they get
a lovely surprise.
- My parents recently booked a cruise with a local travel agent.
When they arrived at their hotel, they found a bottle of wine
chilling in their room, compliments of the travel agent.
- Last year I had some bodywork done on my car. When I came to
pick it up, I found not only had the bodywork been done well, but
they also had washed and detailed my car.
- A friend of mine runs her own consulting business. She went to
a local chocolatier and had a chocolate mold created with an
imprint of her logo. She now has custom chocolates made and leaves
them with clients as a way to say thanks for their business.
- A local coffee shop has punch cards. Every time you buy a cup
of coffee, they punch the card and every tenth punch gets you a
free cup of coffee. A completed punch card also gets entered into a
draw every month for a give-away.
- When I came home from shopping at a bookstore, I found a coupon
for 50% off my next purchase tucked inside the book I had just
bought.
- I recently had to have the tires replaced on my car. The tire
shop was a little off the beaten path and not near any other shops,
so customers had to wait there while the work was being done. The
tire shop created a lovely waiting area with comfortable couches
and chairs, a pot of coffee brewing, and a box of doughnuts and
cookies for waiting customers. They also created a small library of
books and a wide range of magazines, and had a children's corner
full of kid's toys and books.
- A private wine store in our town has a beautifully decorated
store, and because they know people who shop there love to talk and
relax, they've provided a seating area with comfy leather chairs
around a fireplace, on top of which sits a plasma TV. They also
regularly do free wine tastings in their store, and have workshops
on how to pair wine with food and other things of interest to wine
enthusiasts.
- A sporting goods store gives away a pair of local hockey
tickets once a month during the season to customers who enter the
draw.
Do you get the idea? Most of these things did not take a lot of
money - and yet if you were the recipient of these thoughtful
gestures, you would feel valued as a customer. How likely would you
be to seek out that same travel agent the next time you had to plan
a trip? Or use that body shop? Or work with that consultant? Or
shop at that sporting goods store? The concept here is to make the
sale the beginning point of your customer relationship, not the
end. So, how could you implement some fantastic customer retention
strategies based on your budget and your industry? Ask yourself the
following questions.
- What kind of "gift" or reward would be a natural pairing with
what I sell (e.g. a bottle of wine for the vacation)?
- If I were shopping at my store, what would encourage me to come
back (look at your business from the customer's
perspective)?
- What expertise could I provide that would give an added benefit
to customers who purchase what I sell (e.g. wine-related workshops
for people who buy wine)?
- What can I do to make my customers feel more comfortable in my
store (e.g. the tire shop)?
Have fun with this! Go crazy in the creativity department.
Congratulate yourself on every new customer - but take it one step
further and figure out how you can keep that customer coming back -
and telling others about you. I guarantee the results will be worth
the effort.
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Become an Expert - Write a
Book!
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If the title of this article hasn't
sent you running - I hope you'll be inspired by reading it, and
consider adding this strategy to your marketing plan. Not many of
us think of ourselves as authors, yet if you have the knowledge of
how to do something, and the capacity to explain that to someone
else, you are probably closer to being one than you think. Becoming
an expert in your industry is a great way to boost the impact of
your marketing. Having something in print automatically raises your
credibility, and will drive people to you and your business. With
self-publishing, or on-demand publishing such an affordable option
these days, there's not much holding you back from creating a
niche for yourself as an expert in your market by writing a book.
It's not as difficult as you might think, and even if you don't
have the finessing skills of an editor, you can always hire someone
to check the grammar and make the manuscript more reader friendly
once it's written. Your job is to get the process on paper. How-to
books are still the #1 purchased type of book on the market today,
so if you can tell someone "how-to" do something, they'll more
than likely buy your book.
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Why Write a Book?
You want to consider writing a book because you have
specific knowledge to share that will benefit others, and because
you recognize the potential to establish yourself as an expert in
your industry. Are any of your competitors doing it? If not, you
can immediately give yourself a competitive advantage by becoming a
published author. You may be thinking - I don't have time for
that! I'm too busy running my business. But think about it. Are
there moments you could carve out of your day - just 15-20 minutes
at a time when you could apply yourself to this new venture?
Instead of reading the paper on your lunch hour for instance, or
getting to work a few minutes earlier in the morning and dedicating
that time to writing; perhaps committing a portion of your weekend
- say an hour on Saturday mornings. If you look hard enough,
you'll find the time.
What Would I Write
About?
It doesn't matter what industry you're in, you have
specific knowledge about something. Think about this from your
customer's perspective. What questions do you hear from them most
often? What knowledge do you see most lacking in your customers?
What do you know that would help them in a specific way? If you own
a dry-cleaning business, you could write a book on how to take care
of clothing so that garments last longer; if you run an auto-repair
shop, perhaps you could write about the key things people need to
know about the importance of regular maintenance and how to go
about improving the lifespan of your vehicle; or maybe you own a
retail clothing store - perhaps your angle could be how to become a
smarter shopper - what to look for on labels, how to discern the
quality of the items you're purchasing; or what if you sell septic
tanks? Could you write about how to properly care for and extend
the life of your septic system? What if you're a service-based
business? A chiropractor would have access to lots of information
on how to improve your health; a graphic designer could write about
key things to think about when creating marketing materials for
print or web; a travel agent could write travel tips about things
to do, and not to do on your next vacation. It shouldn't take you
long to think about how what you know could be valuable to someone
else.
But I'm Not a
Writer!
As I already mentioned, you don't have to be a
prolific writer to write a how-to book. You just have to know how
to do something, and how to share that knowledge. If you really
don't feel confident about your own writing skills, hire a local
writer or editor to work with you. Just get the information from
your head to the paper - they can help you to craft it into a
readable form. Use bullet points to get all the facts down on
paper. This may be good enough in itself, but if not it would
certainly give an editor enough information to write some linking
paragraphs. If the very thought of writing anything sends shivers
up your spine, use a tape recorder and just explain your ideas
verbally - then have someone help you transcribe them and put them
into a reader-friendly format. If length is scaring you, you don't
have to write a 200 page book. You could put together a small 50-60
page pocketbook for starters, or even smaller if you like. That's
the beauty of on-demand publishing - you're in control!
What Do I Do Once It's
Written?
Check out on-demand publishing on the Internet.
You'll get a good sense of how this industry works. Make sure you
check out all the information, and especially watch for hidden fees
and contractual commitments - you don't want to lock yourself in
to anything. You just want to print the books whenever you need
them - 20 or 30 at a time. Even local printers will often do
on-demand publishing of smaller books, so check it out with
whatever company you're currently using to do your business
printing.
How Would I Use the
Book?
Sell them in your store. Give them away as corporate
gifts. Send them to potential clients or customers. Give one to
your bank manager. Raffle them off as prizes or give them away as
customer-appreciation incentives. Once it's written, you can put
it in e-book form and sell it online.
Think about how much your status in your industry would be
increased by having authored a book and about all the marketing
opportunities that might create for you, such as speaking
engagements or radio and television interviews. And think about
what diving in and trying something new will do for you personally.
Who knows, you may like it so much you'll start writing a whole
library of books!
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Sales Proposals That Really
Work
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Have you ever wondered how you can
walk away from a sales presentation that seemed to go well, only to
find out you didn't win the sale? Sometimes, what you left behind
may have made more of an impact than the presentation itself, and
it may not be a positive impact. Your presentation could have been
fantastic, but once your prospective client sits down and reviews
your proposal, will they change their mind about what they've seen
and heard? Your skill, charm and charisma will only take you so
far, but the effort you put into creating a superb proposal will
take you the rest of the way. What makes one proposal sell and
another fall flat? First of all, you need to do your homework and
learn what your client really needs. Second, make sure ALL the
relevant information is contained in your proposal. Third, give
your proposal package a dynamite design. If you focus on these
three elements, you'll find your sales success rising with each
proposal you submit.
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Step 1 - Doing Your
Homework
If you've gotten in the habit of doing a
"one-size-fits-all" type of sales proposal, it's no wonder you're
not finding success. What makes a successful proposal is the degree
to which you can offer your client something that will directly
impact their bottom line. If you don't know the industry, or how
your client differs from his competitors, how can you possibly
create a package that has any value? You should always do a client
needs assessment before you create your proposal. Ask lots of
questions. What are their goals? How does your product or service
meet their specific needs? What kind of growth are they looking for
in the next 12 months? How are they unique against their
competitors? What is important to them? What challenges have they
had in the past? The more you can find out about your potential
customers, the better equipped you are to create a proposal that
really works for them.
Step 2 - Crafting the
Content
Your proposals should contain relevant information that's
valuable to your client. If you spend three pages telling them how
great your company is, but don't say a word about what difference
you can make to their growth, it's just hot air. Don't skimp on
the content. Spend the time necessary to include ALL the following
elements in your proposal:
- Summary of Need -
what do you feel this customer needs in order to be more
successful?
- Statement of
Intention - how are you going to meet that
customer's needs and contribute to their success?
- Strategy of
Process - what methodology or task process will you
use to achieve your intentions?
- Measurement of
Success - how will your customer know if they've
achieved that success? What are the measurable benchmarks?
- Explanation of
Qualifications - why are you qualified to offer
this product or service? What have you done in the past and for
whom? What do you have to offer based on your experience?
- Statement of
Value - how will you provide value to this
customer? What benefit will they receive from using your product or
service?
- Definition of
Pricing - your customer will want to know what the
bottom line is at some point in the proposal, but the more work
you've put into making your case in the previous six points, the
less likely price will be an issue. Say for example you are
offering a custom IT package for $25,000, but your competitor
appears to be offering the same thing for $10,000. At first glance
it may seem to make more sense to go with the cheaper price, but if
you've done a good job of explaining that your package comes with
unlimited service, free installation, 24 hour technical support and
software, your competitor's package suddenly pales in comparison.
Remember that creating value for your customer is the key.
Step 3 - Designing the
Package
I realize that not everyone will have access to a
professional layout and design person. If you do, here are some
things you can do to really give your presentation pizzazz.
- Use your customer's logo in the proposal
- Create visual interest through relevant, professional
photographs, diagrams, and charts
- Create a design that uses the company's corporate colours, and
print your proposal in colour
If you don't have someone who can create those graphic elements
for you, you can still create a professional-looking package by
making sure your proposal is neatly laid out, free of errors, and
easy to read and follow. Make sure your headings are clear (larger
type, bold or italic for emphasis), and that your document is
numbered properly. Pages should contain an appropriate amount of
white space around the edges of the page and should not look
cluttered. Pages should be numbered, and if possible, each section
should start on a new page. Also, make sure you bind your
presentation in some way so that your customer isn't dealing with
loose pages.
If you have MS Word you will find a series of helpful templates
that will make your document look more professional. If you are a
Microsoft Word user then you will be able to use Microsoft
Publisher as they are very similar and the latter has a great
number of templates to choose from.
Once you've done a few, you can start developing a template
that works for you and that speeds up your process. It may seem
like a lot of work at first, but it sure makes a difference when
you do it. When I was young, my dad used to say "anything worth
doing is worth doing right." In this case, doing it right will
greatly improve your sales success.
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Rest, Relax,
Recharge
Is Your Business Suffering Because of What
You're NOT Doing?
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Running a small business is hard
work, there's no doubt about it. You're constantly under pressure
to manage a million details every day. Make it or break it depends
solely on you, and sometimes that means you have to work long
hours, give up your weekends, cancel plans, and sacrifice your
personal life to make it work. But that should be the exception,
rather than the rule. Yes, running a business is hard work. But
it's not all there is. And if you don't pay attention to your
body's cry for rest, and your mind's cry for relaxation from time
to time, you won't be fit to run your business. Life is about
balance, and while your business consumes most of your waking
hours, you need to pay attention to your other needs as well.
Imagine a motor that runs constantly without maintenance - its life
will be shorter, it will run less efficiently, and it may cause
huge problems to the machine that it's fueling if it's not looked
after. Is your motor running constantly without a break? Pay
attention - you too will be less efficient, you won't last as
long, and you may end up hurting rather than growing your business.
Taking time regularly to relax and recharge, while it doesn't have
to cost a lot of money or time, is vital to your success. If you
struggle with this, take time to read a few of these ideas and
consider how you can bring some restful balance back into your
life.
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Take regular time
off every week. That means at least one complete
day, every seven days. It doesn't count if you work six days and
then go in for a few hours on the seventh. You need a complete
break from your work routine regularly. Time to allow your mind to
think about other things. Time to enjoy the rest of life. This
mental break will make you far more efficient than if you continue
to work without days off.
Take mini-breaks during the
day. Long hours staring at your computer screen,
running from client to client, working in the shop - without small
breaks you actually become less efficient. Get away from your desk
at lunch. Take a walk around the block. Wander through the mall.
Sit outside on a park bench. Ten or fifteen minutes away will
refresh your mind and your body. Do it every day.
Take
mini-vacations. Get away for the weekend every 3 or
4 months. Whether you're by yourself or you can go with someone -
going away activates a completely different part of your brain.
Being physically away from your home and your business allows your
mind to go places it normally doesn't go. It helps you focus on
important things - things that get drowned out by the urgent.
It gives you the
opportunity to focus on relationships that may be neglected because
of your work schedule, and to re-evaluate what's important to
you.
Take an extended vacation at least
once a year. These mini-vacations are great, but at
least once a year you should consider getting away for a week or
more. Everything your mini-vacation will do for you, an extended
one will do in greater measure.
Eat better, exercise
more. You probably don't need to be told that, but
it does make a difference. Fueling your body with foods it needs
rather than with junk it doesn't, helps you to think better, and
work better. Exercising clears the mind, and fuels the body. It's
common sense, yet it can be so hard to do. Discipline yourself to
build an exercise routine into your life. Say no to fast food more
often and bring healthy meals with you. Your body and your mind
will thank you and so will your company.
Change your
activities. When all you do is work, and then you
bring work home, and when you're not working you're thinking
about work, you become a very unbalanced person. Do something
different. Take a dance class. Start gardening. Do a crossword
puzzle. Write a story. Cook a gourmet meal. Go to a hockey game.
Just experience life differently than you do every day. Involving
yourself in activities that are different from your normal routine
infuses you with energy. A rut is a rut. You'll eventually spin
out of creativity and will find your mind is dull and you are
bored.
Have fun. Build
fun back into your life. And if you say work is fun, I'll
challenge you to find a different kind of fun. Make a list of all
the things you used to love doing. Pick one of them and do it.
Think about all the things you dreamed you'd accomplish in life.
Are any of them NOT work related? What steps can you take to move
closer to those dreams? When was the last time you really laughed?
Who can you spend time with that makes you feel good?
While being driven is somewhat built into the psyche of
entrepreneurs, it isn't always a good thing. It takes a special
effort to stand back from the driving desire for success, to see
that life is more than that; to invest in others and in ourselves.
The irony is that in doing that, we are actually investing in the
success of our businesses. Take the R&R challenge and see what
a difference it might make for you.
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Seven Tips for Attracting Great
Employees
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Sometimes hiring great employees is
about the quality of your process, but sometimes it's also about
who you're attracting to your company, and why. If you've ever
struggled with hiring people who have been a wrong fit for your
business, you'll know how frustrating and costly that mistake can
be. So how do you attract people to your business who will not only
be a great fit, but who will demonstrate quality in their work,
ethical business practices in day to day life, creativity and
enthusiasm for their job, and loyalty to you as their employer? It
starts with looking at what you've got to offer a prospective
employee with your company. Don't assume that just because you
have a position to fill, people will want to fill it - at least the
right kind of people. Here are some things to consider if you want
to attract the kind of people who will help you grow your
business.
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Earn a reputation as a great
employer - job seekers these days look for more
than just what is in a job description. They may be willing to take
less pay if they know they're working for a great employer. By
being a great employer - you'll attract great employees. How?
Because your current and past employees will be singing your
praises to everyone they know. A grocery store chain in our city
has become known as a great employer - because they provide great
training, great benefits, great pay, great support, great customer
service - and the list goes on. Because of their reputation,
everyone wants to work for them. They have so many applications at
any given time they never need to advertise. And because so many
people want to work for them, they can be choosy about who they
hire, and they only hire great people.
Offer employee
benefits - if you haven't already investigated
this for your business, you should know it is a major factor for
job seekers. A formal benefit plan including health and dental
benefits is one aspect; however, there are also other company
benefits that are considered by those looking for employers.
Benefits such as flexible work hours, work at home options,
childcare considerations, flex days, employee recognition awards or
incentives, etc. These benefits can often outweigh a lower salary
for many people.
Offer a competitive
salary - the previous point does not give you an
excuse to pay your employees poorly. If you want to attract quality
people, you need to be competitive in this area. Offer at
least what your
competitors are offering, and if you can, even more. Salary isn't
everything, but it is important.
Build growth and incentives into
your employee plan - personal satisfaction, making
a difference, and contributing value to an organization ranks
consistently higher than salary when it comes to job consideration.
People want to know that their contribution will be important and
valued. They also want to grow, and opportunities for growth and
development are vital. Think about it. If you hire someone who is
looking for opportunities to grow within your company, doesn't
that tell you a lot about them and what they will contribute? As
opposed to someone who never looks for personal growth or
advancement? By allowing your employees to grow with you, you are
putting out the word that you want people who are growth-oriented,
and that can only be good for you!
Allow yourself to be
choosy - hiring the wrong person can cost you
thousands of dollars in training and re-training. Don't be
desperate when it comes to hiring and just find someone who will do
the job. If you are in a position where you MUST fill a vacancy or
production cannot continue, consider hiring with a short probation
period. Better to decide two weeks into the job that your new
employee doesn't learn quickly enough than to wait 3 months and
then start over. Whenever possible, outsource the work, or share it
around the company until you find the right person. Desperate
hiring rarely turns out well.
Be big on training
- companies who train their employees well, have employees who are
confident, and competent. Don't skimp in this area. My daughter
was recently hired by a pet store that had the most comprehensive
training program for an entry-level position I've ever seen. It
involved a series of studying and tests on product knowledge on
which they had to score 100% to continue their employment. It very
quickly weeded out those who were not suited for that particular
kind of work, or those who didn't want to work very hard. The
result is that they end up with quality employees who really want
to be there. Shopping there is a pleasure, since everyone who works
there is so knowledgeable about every aspect of the store.
Acknowledge those who work hard
for you - since job satisfaction rates #1 for job
seekers, they look for opportunities where their contribution will
be valued. Make sure you are an employer who regularly acknowledges
the fact that your employees are vital to your business growth.
Whether it's through regular employee rewards, incentives, or
perks, if you are an employer who provides that encouragement and
recognition, you will attract people who want to work hard.
Hiring doesn't have to be hit and miss. By paying attention to
the kind of company you are, you can change the kind of people you
attract to your business. Remember the grocery store I mentioned
earlier? What if in your industry, you had that kind of reputation
- you attracted so many people you could consistently pick the
cream of the crop? I'd say that just might contribute to
significant growth for your business.
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Chukuni Communities Development Corporation
PO Box 250
Red Lake Ontario P0V 2M0
Tel: 807-727-3275
Fax: 807-727-3285
www.chukuni.com
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Published in cooperation with Your Corporate Writer - www.ycw.ca
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