What does it take to build a successful small business? One that you are passionate about, pays the bills, provides an income you can live on comfortably and the means for you to take some needed down time of at least a few weeks annually?
The Client Loyalty Factor
Is it all about hard work and having a great business idea? I don’t think so!
While financial resources, hard work, a detailed strategic plan of action and a great idea for a business are certainly important. Equally important are some other intangibles, often neglected by less than successful small businesses. Things like the client loyalty factor, usually the result of great customer service.
With so much of the present and future value of a small business determined by reputation, the importance of at least meeting customers’ expectations is critical. Better yet, having a reputation as one that ‘goes the extra mile’ or that “under promises and over delivers”.
For the vast majority of businesses, it is important to our brand reputation and bottom-line to focus on retaining and strengthening the relationship with our existing client base while, at the same time, working hard to attract new customers too. The two go hand-in-glove.
Happy existing clients can become one of our best sources of new clients, especially in today’s online world. When they’re happy they may tell their friends – when they’re unhappy they’ll almost always tell even more of their friends!