This will be the final part. Of course getting a business off it’s foot is not a matter of writing or reading 4 blog post. The world of business is a treacherous place to be. If you are not the kind that can take pressure, from without or from within, I would advise you to keep out of the business world and stay put with a steady job. Many people have the notion that being their own boss means freedom from their work pressure. Let me tell you it’s not. The pressure will be 10 times from what you experience in your present job.
Of course being in business, you stand a chance of making it very big and if you succeed you may make 10 times what you are earning now. So that is the risk you have to take, but never have the impression that it is going to be easy. That said, let’s get down to my last point.
What are Value Added services.
Value added services are services that you give to keep your customers happy so that they will come back even though they know they are paying more. Like I said in my previous article, I keep a firm stand in pricing my items because that is the margin that will cover my Expenses and at the same time allow me to make a small profit. So to keep customers happy, I try to be as helpful as possible with their problems.
A guy comes in to buy a electrical switch and he has no idea how to fix it, I take the trouble and time to show him how. Another guy wants some curtain railings, I will take the time to hook up everything for him so when he goes home he just need to screw it down .
There are many areas where you can keep your customers happy other than that compulsory smile. Treat each and every customer like a VIP, no matter how much business they give you. Become their friends. Be sincere. Don’t cheat them and they will come back time and again. The best part is they will get their friends to come also.
That concludes what I have to say. when I first started this series, I emphasised that I have no special training in the world of business management and what I wrote here is all based on my experience. I think most of what I said is what you will find being taught in business schools and like I said, most of it is common sense. Of course if you are fortunate enough to have studied in a business school, I am sure you will know more than me on all these theories. Nevertheless, I hope this series can be of help to people like me who have never set foot in a college but would like to strike it out in the business world.
Related posts:
- Managing a Business without a Masters in Business Administration (3) What are your Fixed Expenses. When Pricing the items you sell and deciding how much gross profit you much make to cover your operating cost, you must take into account your monthly fixed expenses. Fixed expenses in this case are: Your Rental Your Loan repayments Your wages and those of...
- Managing a Business without a Masters in Business Administration (2) Get the Right Location for Your Business So the your Business has been registered and you loan has been approved. now you are ready to scout for a location for your business. If the business you have decided on depends on people coming in to your shop and buying, you...
- Managing a Business without a Masters in Business Administration (1) I never went to college. I never went to University. So what I am going to say here is from what I have learned through trial and error. I don’t have any surefire successful formula that will guarantee you will succeed, but I guess when it comes to doing business,...
- Warning: Always Assume That There Is Competition. In Sun Tze’s Art of War, he preaches that we should always assume that there is an enemy force waiting to attack even though the General is fully aware that there is none lurking at the moment. This assumption will keep his troops on the alert 24 hours a day...
- Retail Business The Prime Minister called all graduates who could not find a suitable job to go into the retail business. He was careful to word his call by saying that there is a 50% sure success rate if one is diligent and knowledgeable enough. I think he secretly knows that 50%...
Comments on this entry are closed.