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Who got us in and who will get us out of the recession?
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Business intelligence and honesty seem to have been in short supply in the recession. They could be the qualities the country needs. Here are some tips for the bankers and politicians from the small business world.
Don’t sell an expensive product to someone who is unlikely to be able to pay for it. It could be trouble for you, and it is a waste of admin time chasing the debt. (If you have checked their income and credit and know they can’t afford it, this pitfall is especially easy to avoid.) Don’t incur expenses which are not justified. Money doesn’t come out of a bottomless pit. Be scrupulous about expenditure, get it all checked by an accountant and verifed by the government tax office. Talk to your customers as intelligent people, and tell the truth about the problem. If you have got a good relationship they will appreciate your honesty and genuine attempts to solve it. If you don’t have a good relationship with them, you probably shouldn’t be in relationship with them at all. They are the customer and it is their choice. Keep it real on social networks and YouTube. Fakery is even worse there than in formal posed photographs. Just say No. Find a way of getting your products and services to people who will make the most of them. Even if they can’t afford it all immediately, create a payment plan, and offer lots of good support so they succeed and you get a good return on your investment. You will both win, honest. There’s no long-term value in marketing a no-good product. Improve your product, your processes, and deliver on promises and customer service. This is the foundation of creating raving fans for what you do. Times are tough so go out and find new customers. But do it with a plan so you can achieve real results in a focussed area. You haven’t got unlimited resources of time and money use them wisely. Above all, don’t forget, your customers are partners in your success. Do this and you will live well and be able to sleep at night. Most important of all. Keep yourself motivated and inspired. It will naturally make every thing you say and do more compelling to others. You need down time to look at sunsets, keep in shape, stay connected with those you love... and it will help you do the job better. Who does all this every day? Small business. So who is capable of getting us out of the recession? |
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