Business Greatness Requires Something ‘Extra’ – Here’s How to Do It
When I’m in New York there’s a restaurant that’s almost like my kitchen, I eat there so often. Once I casually mentioned how much I enjoy the Italian soup, pasta e fagioli. The next time I came in to eat, the owner stopped by my table to tell me they had made the soup for me. Do you know how special I felt and how impressed I was with the level of customer service at this restaurant? It was off the chart. There’s an old Creole word they use in New Orleans, “lagniappe.” It’s that special extra that a business owner throws in without your asking. You’ve probably experienced it and if you have, you know that sometimes we remember the lagniappe better than we remember the actual item we were originally shopping for. Rise above expectations The special batch of soup and the New Orleans lagniappe are both examples of business owners going “above and beyond” the minimum requirement to satisfy a commercial transaction. When I walked into the restaurant that evening, I wasn’t expecting my favorite soup and that made my dining experience go beyond expectations – literally in this case. What is your company’s lagniappe? How do you exceed expectations? Let’s quickly unpack the simple things the restaurant owner does right. It may help you find ways to go beyond your customer’s routine expectations. First, the restaurant owner engaged me. We had a conversation, a dialog. It went beyond the standard pleasantries of “How are you this evening?” or “Is everything fine here?” A real dialog took place. Second, the owner heard what I said and acted on it. Knowing how overworked restaurant owners are, I suspect that he quickly got pasta e fagioli scheduled for the next day’s menu; the probability of forgetting or becoming distracted is huge. In any case, he saw a way to please a customer and he didn’t let it slip away. Separating good from great Other good – but not great – owners would have heard my remark, replied with some comment and then moved on to the next thing. I suppose we should be glad that most business owners are satisfied with being good; it opens up greatness for the rest of us. However, we need to seize the opportunities that allow us to demonstrate why we are great and show our customers what makes us better than the folks who are satisfied with good. Finally, the owner “closed the loop” with me by telling me that they had made the soup with me in mind. Heck, maybe my next visit just happened to be on the day when they usually make a pot of pasta e fagioli! The important thing is that the owner remembered and took the time to engage me again. Recalling details about your customers is critically important, they let you develop a relationship that is deeper than the typical business relationship. That quality can often be the deciding factor when people are making choices about who they want to work with or who they recommend to their friends and business associates. “Ask for Mary, she’ll treat you right.” Are there any sweeter words in business? Image: Pasta e fagioli, © 2012 Wapster, used under a Creative Commons Attribution-ShareAlike...
read moreBeat Your Glossophobia – Fear of Public Speaking
I had a great talk recently with a woman who currently works for a major corporation but really wants to start her own business. One of the things holding her back is a very common phobia: she’s afraid to speak in public. She knows that to get her own firm up and running, she’ll have to pitch it to a wide range of people. She’ll have to sell the idea to prospects and also talk to groups to increase awareness of her brand. For many, standing in front of people and making a presentation is cause for immediate panic. But if you think a fear of public speaking dooms your chance at business success, I have two words for you: Warren Buffett. In his 20s, Buffett realized that to achieve the success he envisioned, he needed to be able to speak in public. “You’ve got to be able to communicate in life and it’s enormously important. Schools, to some extent, under emphasize that. If you can’t communicate and talk to other people and get across your ideas, you’re giving up your potential,” Buffet said during an interview for Levo League, a career website for young women. Buffet’s answer was to sign up for a Dale Carnegie course and the rest, as they say, is history. However, not everyone has a Carnegie Institute nearby, or can afford a course. Fortunately, there are other ways to overcome your fear of public speaking and also hone your presentation skills. Just do it. In every endeavor practice makes perfect. If entrepreneurship is in your future, start out by leading a local group, even if it’s the PTA. Volunteer for opportunities at your current job to make presentations – they don’t need to know that they’re giving you paid training for your future ventures! Join Toastmasters. The group has chapters all around the country; finding one near you shouldn’t be difficult. They also have a lot of online resources that should help kickstart your public speaking career. Grab the local junior college catalog. If you’re going to be investing your money in startups, invest a few evenings in yourself first. Find a night class in speaking. It’s a very low cost way to take those critically important first steps. Join a theatre group, acting class or workshop. All the world’s a stage and that includes the business world. Step outside of your comfort zone and find a way to inspire your inner thespian. Believe me, if you can get on stage and say a few lines in a local production of Our Town, you won’t have any trouble presenting your ideas to a group of potential investors. Take any of these roads to increased public speaking confidence and you may find that you open up a whole new career for yourself . I speak at events constantly and believe me, it is very rewarding. Try it, you’ll like it,...
read moreLooking for a loan? Go Local, Small Business Owner, Go Local!
The first lesson a respected college professor taught his students was to not trust academic “experts.” If you look at the track record of these so-called experts, it’s never very impressive. And it gets worse when public policy makers become involved. They find academics who take opposing views and try to shape the debate in the way that is most beneficial to their bigger supporters. And folks, small business owners don’t have a lot of clout with policy makers, which we’ll examine by looking at some recent news items concerning small business loans. I find that common sense trumps “expert opinion” everyday and common sense says that the majority of jobs in your community have been created through the efforts of small business owners. On top of it being common sense, statistical data backs it up. Standing against small business? However, in recent years some academics have been arguing that small business owners are not the job creators we all thought they were and recently a group of four profs at West Virginia University and Georgia Institute for Technology have carried that a little further claiming that Small Business Administration backed loans are actually holding back economic growth. By the way, I love the headline Bloomberg Businessweek gave their article on this study: Small Business Owners and the Economists Who Hate Them. Unfortunately, it seems that these anti-small business economists are joining elected officials who have a distinct preference for big business. While the economists are arguing against financial support for small businesses, there is no doubt that our lawmakers have been more than willing to financially support big business. We have heard the phrase “too big to fail” used repeatedly in the last several years. I supposed the corresponding, unspoken phrase for small businesses is “too small to matter…politically.” And sadly, as the Wall Street Journal points out, an upshot of the too-big-to-fail philosophy has been to create a financial environment where huge cash reserves are tucked away in the vaults (or balance sheets) of the big banks where it will never be loaned out to small business owners – they just aren’t in that business. The bankers in the white hats But with all of this said, there are some good guys in the picture: your regional bankers. The small and medium sized banks are picking up the slack and lending to small business owners with little or no help from Washington. Why? Because they know local conditions. Surprise! Common sense trumps the academic experts and the policy makers. The bankers who are close to the situation can recognize credit worthy businesses and opportunities for growth when they exist. And fortunately, more and more local bankers are seeing positive developments. So what’s the takeaway here? It’s two fold: Follow the college professor’s advice and don’t trust academic “experts,” and Develop a relationship with a good local banker; that’s where you’ll find help when you need it. Image: By Jonathunder (Own work) [CC-BY-SA-3.0 or GFDL], via Wikimedia Commons....
read more12 Tips to Get Winning Reviews for Your Business
How many of you remember one of the original TV talent shows, “Star Search”? Almost daily I find myself going on a different kind of star search – I’m always looking for the average number of stars a product or app has received from users. One of the best attributes of the Internet is its ability to provide opinions on products and services before you buy. And that means it’s crucial for you to offer reviews. Here’s a list of techniques and strategies that work. Find the ones that are the best fit for your business: Pick your poison. Decide where it’s best to build your library of reviews. Options include building them into your own site, Yelp, Google+, Amazon associates, eBay, Angie’s List, niche sites, and many more. Bloggers. If you’re doing something that is subject matter for bloggers, contact some and see if they will review your work, product or service Contact your regulars. You have nearly personal relationships with your best customers; ask them for reviews. Post reviews on your site’s home page. Reviews inspire reviews. Your customers will want to add their “own two cents” when they see what others are saying. Ask for reviews immediately. If you’re a brick-and-mortar operation, ask your customers when they are finishing their transactions. Make it easy for them. Have the URL of the review page on receipts and signage. Also see number seven below. Give incentives. Restaurants are offering various freebies if customers complete a survey. Give a coupon when customers offer their opinions. Have a tablet or PC handy. Set up a review kiosk in your business. By the way the kiosk doesn’t need to be exclusively for reviews, it could also offer “how to” videos or other services that would be useful to customers. Always link to your review pages. Put a link to your reviews on all your correspondence and publications – newsletter, emails, coupons, white papers, videos, and more. Go video. Post video reviews on YouTube. Keep a small video camera handy and ask customers if they would say a sentence or two about your business. Air your dirty laundry. Own up to bad reviews. Keep them posted. Respond to them. People want authentic reviews. If every review is positive, some prospective customers will doubt that they are legitimate. Leverage social media. Facebook offers a review tab for local businesses. Google+ has review functionality built in. Ask your fans to write reviews through your social media posts and provide the link for them to go to the correct page. Dig deep for endorsements. If you get complimentary emails from your customers, excerpt them and post the comments as endorsements on your website. Take some of these tips and when your prospects go on a “star search” your business will really...
read moreHow To Get The Right Person On Your Tax Team
The seasons recently flipped from summer to fall and just as the leaves start to change colors and drop from the trees, our attention needs to turn to another somewhat less lovely season – tax season. For the small business owner or solopreneur, filing taxes can be a major pain; the record-keeping burden falls squarely on their shoulders. Working with the right tax preparer can help reduce the stress as well as taxes owed. Here are some tips to help you connect with the right person. Check availability. Some tax preparers just hang out their shingle during tax season. As a small business owner you want someone who is in the tax business all year long. You need to develop a relationship with your tax preparer that includes discussions and advice throughout the year. You may want to work with a CPA or an enrolled agent. Tax laws vary from year to year and you need someone who is always up-to-date. Ask around. There are two kinds of references – the ones the tax preparer would give you and the ones you receive from your acquaintances in the local business community. The second type are generally the best. When you’re looking for a new tax preparer and adviser, talk to other business owners in your area. Make sure you talk to people who have businesses somewhat similar to yours. A doctor who has a medium-sized practice and employs several medical professionals won’t want the same tax person as the person who runs a clothing store and employs the whole family. Another good place to start your search is at the National Association of Tax Professionals website. They have a search feature that will get you a list of member tax professionals near you; sometimes website links are included in the member’s contact information. Examine your candidate carefully. Check the Better Business Bureau to see if there are any red flags. Beyond that, take time with the interview process. You want a tax professional that you feel comfortable with. If it seems like someone is trying to hurry you along, you’ll be less likely to contact that person when you have questions throughout the year. You want to feel like your establishing a partnership more than just finding a hired gun who’s paid by the hour. Be sure your interview includes questions specific to your industry, which brings us to the next point. Get up to speed on the basics. You need to make an informed decision when you select a tax professional. This means you should know the basic language of taxation and finances. TurboTax has an excellent glossary of terms. If you scroll through it, you’ll see words and phrases that look familiar. If you aren’t sure of their meaning, take a moment to bone up. Without a certain level of knowledge, you’re not being advised by your tax professional, you are merely at his or her mercy. Further, don’t be afraid to stop any conversation with this person and ask, “What do you mean by that?” Find out about fees. Know the cost of the services you’ll require before you commit. Also, make sure you know exactly what is covered in the charges. Don’t worry, you’ll make it through tax season okay. However, as you probably know,...
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