By: American Receivable
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A Customer Focused Small Business
Small business owners have many obstacles to overcome
Starting a business requires planning and one of the key elements is raising capital. There are many expenses to consider. Space, staffing, product, insurance, office expenses, taxes and others have to be paid regardless of the success of your business each month. Some small business owners have trouble obtaining traditional funding due to credit or other reasons. Cash flow is necessary to stay in business and continue growth. There are many options to traditional funding, and invoice factoring has become one of the most common options for small business owners.
Capital is critical. Once you have funding for your business and know you can sustain it, you have to decide how you are going to run your business. What is your business philosophy?
What is the #1 asset in your business?
Your customers, of course. They provide the revenue that keeps your business growing. Your customers are your guarantee for success. A customer focused business makes them your priority and the success of your business depends greatly on just that.
Who doesn’t like to feel familiar and appreciated? People in general like to be acknowledged and made to feel that they matter in life. The same goes for business. Getting to know your customers and taking an interest in their business will go along way in gaining confidence and trust. Personal attention makes everyone feel good. Giving each customer access when they need it will help keep them as customers long-term. Confidence and trust are essential to customer retention. They need to know that they can trust you and be confident that you are the best solution for their business. Getting people who know your business and have a high regard for you are the best referrals, and a customer-focused business will obtain this.
Building a customer-focused business is easy, focus on the customer first:
- Know your customer and understand their business – talk to them about their needs and how you can provide support.
- Be available. When customers call, they need answers immediately. A customer-focused business will always have someone answering the phone and directing the customer in the right direction for problem-solving or other communication. Not being able to reach you when a need arises will cause them to look for other options and possibly move their business to a competitor.
- Listen to their questions and concerns and let them know you are interested in finding a solution to their issue.
- customer will call with a special request that may be against normal office protocol. Don’t make it habit, but once in a while accommodate them. Let them know it is not normally something you could do, but that you want to help them and will make an exception this one time. They will feel relieved and appreciate your willingness to find a solution for them.
- The success of your business is dependent on the success of your customer’s business, so make them your priority.
A customer-focused business is fairly simple. Get to know your customers and their business. Show them that you are interested in their success. Inevitably, your success depends on their success. Their success will result in referrals for your business as well.