Making money in business is not a bad thing or a sin. In fact if you don’t make money,you’re not a business, you’re a charity.
There are many factors that make money for a business, but let me talk about the three that matter and make the most.
Fact is, many will argue with me that the stuff they sell is what makes them money. Would it surprise you to learn that those things are simply an expense. When you fulfill what you just sold, that costs you money. Handing over what you sold will not make you more money unless you have a strategy to do so.
So are you at least curious what the three things that make the most money for your business are? (I’ll pretend you just said a resounding “yes” …) Here they are Marketing Sales Customer Service.
- Marketing (brings potential clients in)
- Sales (turns them from prospects to clients)
- Customer service (triggers the re- buy)
Let me further explain a principle: There is a process involved in business that predicates clients. To get clients, you first need to market to them and sell them. To keep them you need to provide great customer service (yes, great).
Marketing is more than simply getting the word out. Your marketing needs to have about 11 elements to it for it to be fully effective. Today’s consumers have a lot of things competing for their attention and typically your advertising is hard to match everything else that is out there. Many times a small business owner will get discouraged because they don’t see immediate results, when most marketing should never promise quick results, but constant consistent results when done properly over time.
Sales is often seen as the dirty nasty crude component of business. If you don’t like selling- GOOD! If you like helping, if you like educating, if you like being in a place to advise- that is where you need to be. You don’t need to be, in fact you shouldn’t be “salesy” Perhaps viewing it as protecting your clients from the shady practices of others, or buying a sub standard product or service or simply serving your clients the best could be your motivation.
It’s not a big secret that customer service is necessary, but even though it’s not a secret, how do you insure that your clients are being served properly? Do you ask them? Do you send out a survey? Even then, do you have a way to exceed their expectations? How do you go about it. There is a four step process I follow which is typically 95% more than that of the competition. If you were to do just one of the 4 steps, you would typically outrank the competition, but trust me, you need to go as far as you can in today’s economy to keep your client and get them to buy again.
Marketing Sales Customer service. Sounds simplistic, but when you get into the deeper strategy and realize this is a constant proposition, it makes it hard. Not impossible though, but being the top of the town is never easy and most often worth it.