Posts Tagged ‘Business Tips’

How To Pacify Clients When You Fail To Deliver

Monday, March 29th, 2010

Here is a guest post from a fellow Nigerian Entrepreneur who writes and practices entrepreneurship. He shares a personal experience which illustrates the importance of having a contingency plan for taking care of your clients when you fail to deliver on your promise. Please, do visit his website  Mk Akan to get more business and blogging tips and other resources for free. Enjoy! – NaijaEcash

What Customers Want When You Don’t Deliver

There are situations when the best companies and businesses fail to deliver. It does happen and all the time.

It happens in online businesses and offline businesses. It happens online when you do a launch, offline in customer care, offline in delivery and in any department you can think of.  So when it happens what do you do? What should you do?

Let me tell you a little story.

Sometimes when I am far way from my PC and internet access, I do head to a cyber café to get stuff done online. One day, I dashed into a cyber café. The management had obviously done a great job. They had flat screen monitors, all well arranged with great furniture.

They had functional air conditioner, God, I was so happy. Now I could just cool off and surf the web. I paid for one hour, it was quite costly but, in my mind, it was well worth it.

I sat on the PC close to the air-conditioner and started working. 18 minute later, the unexpected happened. There was a power cut. (Sudden power outage is almost normal so I was not shocked) .

The people in charge scrambled to the back of the building to start the power generator. I was still working thankful that management had thought it good to get UPS (unlimited power supply) and that the power generator would be on in no time.

I was wrong.

10 minutes later, the power generating set wasn’t on and the UPS were not beeping any more. They were screaming, a sign that meant- I gonna go off in seconds”. I was in the middle of something. There was nothing I could do than hope that power would come on.

Then suddenly, it happened, what I feared happened. The UPSes started going off one by one. Mine was the 3rd to go off. Everything I was working on in the last 20 minutes was gone.

All I was doing was gone.

Seconds later, the power came back because they finally put on the generator. One of the workers came in and started putting on the computers. He excused me and put mine on too. After powering up the computers, he left without a word!

I was vexed. I stood up and went to complain at the customer desk.

“I was doing something very important and now I have lost everything” I told the attendant.

“It is not our fault, he replied, there was a power cut and we could not put the power generator in time”. I kept complaining hoping for something to calm me down, they gave me none.

I was very annoyed, it showed on my face.

Even though, I knew about the problem of incessant power cuts, and I knew that mechanical devices like power generator sometimes have problems. Even though I know we are all humans, we sometimes fail in our promise and that things sometimes happen and does not go according to plan. yet I expected a better treatment form that cybercafe than what I got. That brings up the question I want to ask you.

How do you treat your customers when you fail to deliver?

Sometimes the customer just needs you to feel his pain. To sympathize or empathize with him/her.

In the Case above, the attendant or people in charged should have had done any of the following, and I would have been pacified.

Apologize:

He would have apologized after the power cut, apologize when he came to on the PC. Simply saying “please we are sorry for the problem, there was a power out and we could not on the generator in time” would have done the magic. I would have felt better.

Compensate:

I would have been happier if he came  up to say “sorry for the delay…blah, blah, we will add 10 minute to your remaining time”. He didn’t.

My satisfaction wasn’t their concern. They took my money and failed in their service. My money was more important to them than my satisfaction.  They forgot that, “you are not in business to make money, you are in business to serve people and give them satisfaction” after satisfying them, money comes. 

Solve the problem:

Yep, solve it. I may forgive you when you slip once, we may forgive you again if it happens another time, but if keeps happening again, we will just avoid you and your business.

We don’t want to hear your sob stories, we won’t tolerate it.  Just fix the problem and make sure it doesn’t happen again. People pay for quality service or product, not sorry tales!

Conclusion

Do you plan for these unexpected occurrences? How do you handle your inability to deliver on your promise?

Do you have a compensation plan for your customer when you fail to deliver? I’ll surely like to hear your views.

Thank you for your comments.

Mk Akan is an entrepreneur, blogger and publisher of the FastClick, a web-centric magazine published in Nigeria. He blogs at www.MkAkan.com

Steps to Starting a Small Business

Friday, May 8th, 2009

What are the necessary steps to starting a small business? What are the things you need to take into account before launching into your entrepreneurship adventure as a small business owner? Starting a small business requires determination, motivation, and know-how. This post does not promise to provide an exhaustive discuss of a successful small business startup. Instead, a concise checklist of the critical steps you need for a successful business launch will be provided with links to articles that gives details of each issue raised.

Choose a Small Business Idea to implement –  You can’t be a jack of all trade in business. Trying to do multiple things and calling yourself a general contractor is not the way to go. Even though there are multitudes of business opportunities, you only need one to succeed. If you are confused on how to create a business idea, read 10 tips for creating business ideas. If you have several and you don’t know how to choose, read Small Business Opportunity. The major factor is for you to determine where your passions lie and do what you enjoy doing as business. Of course that must be aligned with the changing reality in the industry you want to operate in. You should be out to serve others, not to please yourself! Money follows service, not pleasure.

Choosing the Legal Form Of Business – Deciding on the legal form of your business is not a decision to be taken lightly. Whether you choose to run a sole proprietorship, enter into partnership with another entrepreneur or form a corporation; your choice must be made with carefulness. This is because the business structure you choose will have an impact on your business and personal liability, how easy you’ll be able to raise fund as well as what your tax liabilities will be. If you ask for my candid opinion, I will advise you to incorporate your business, my reason for that can be found in a previous post I made, Incorporate Your Business.

Name Your Business – You need to give your business a name that project the right image. The name should be such that will not only distinguish you from others, but such that is easy to remember. Avoid names that are too long or complicated to pronounce. Remember word of mouth marketing is still about the most effective marketing strategy for any business. If your customer can’t remember your business name, something is wrong. If they find it difficult to pronounce it, because it is tongue twisting, then you have a problem.

Develop a Business Plan – A business plan is the blueprint or roadmap that shows how you intend to implement your business vision successfully. It should take note of the nature of the industry you wish to work in, set strategies for handling competitors and spell out the various resources that you will need to invest in the business. Remember those who fail to plan have already planned to fail. Don’t carry your business plan in your head, commit it into writing no matter how small the business is.

Get Startup Capital – The fund for startup is a critical issue to be decided upon carefully. If you are a newbie entrepreneur, I will advise that you avoid as much as possible, the temptation of taking a small business loan from either the government or your banker. You are better off raising soft-loans from several friends and relatives. My reason for this is because the probability of you loosing part or all of your startup capital is very high. Lack of experience is a serious challenge to newbie entrepreneurs, so start small with capital you can loose without going bankrupt.

Select a business location – If you are starting off in your home, then this may not be an issue (depending on the kind of business anyway). When choosing a business location, you need to take into account accessibility to your suppliers and clients. You may need a business mentor to assist you in choosing a good business location.

Get necessary business licenses and permits – Before launching out, it is necessary you get familiar with the government requirement for the kind of business you wish to engage in. ensure you get all the various licenses and permits that are statutorily required for you to operate the business. Playing ignorant in this area can be disastrous. Remember, being ignorance of the law is no excuse from jail term. Getting the necessary paperwork sorted out is always cheaper than hiring a lawyer to prove that you didn’t mean to break the law.

Establish an Accounting System – No matter how small your business is, right from day one, you need to keep accurate record of every transaction. You may not need a professional accountant to keep your day to day record, but you need one to advise you on the kind of record you need to keep so that you don’t get yourself into trouble with the Tax authorities in your locality. If you can’t afford to pay one, make friend with one and ask for his/her assistance. It can be heart breaking when you loose all your earnings or get yourself a jail term just because you fail to handle your Tax matter the way it ought to be. Never be penny wise pound foolish.

Insure Your Business – Wise entrepreneurs share risk. Why must you carry all the risk all by yourself? For a token amount paid periodically, you can share the risks associated with your business with an insurance company. No bother prays for disaster or law-suit, but it does happen. It is better to prepare than to be caught unaware.

Start Your Own Small Business Now!

Now you can’t claim any longer that you don’t know how to start your own small business. This post, has outline in a concise manner all that you need to start your own small business. You can get future updates to steps to starting a small business by subscribing to my RSS feed, that will also provide you more tips on starting up, staying competitive, and taking your small business to the next level.

Online Business Ideas

Thursday, April 9th, 2009

What Online Business should I Start, please I need Ideas?

Does that question sound familiar? Of course, that is the question so many folks are asking. The most common request new entrepreneurs make online is suggestion on profitable online business ideas to start. The forums and social network websites are full of such requests . Millions of internet users are searching online for business ideas that they can implement to generate residual income. Online businesses seems to be coping better during this economic recession than the traditional businesses. Well, that is my personal observation, let’s get back to the aim of this post. I intend to share with you some hot online business ideas you can implement.

Starting An Online Business

Online Business Ideas

The beauty of some of these ideas is that they can actually be run as internet home based business. That is not to imply that they are  meant for work at home mummies alone or the unemployed. It will do no harm if you have some extra bucks beside the fixed income from your  paid job. Some of these ideas  can actually be developed into small online businesses that are capable of recruiting staff (that means, you can eventually Fire Your Boss and Hire Yourself Some Staff!). Some of the internet marketers currently making waves online started their business from their homes. Their first staff were members of their immediate family who lend helping hand out of solidarity. You can achieve the same feat! You heard me right, you too can become a successful entrepreneur, an employer of labor.

I’ve come across several internet marketers promising to sell 101 hot ideas on online business or best online business ideas for some dollars. If you are not too lazy to do a little research online yourself, you can do without those packages. I can authoritatively say that you do not need so many internet home business ideas, you only need one good online business idea and the sheer determination to turn your dream to reality. Of course your passion as an individual is what determines the best internet business you should start. I addressed this issue in  a post, The Best Online Business To Start.

I also wish to disabuse your mind from assuming that the only successful online business idea is that of becoming an affiliate marketer or earning peanuts via Google Adsense placed on some crappy website (I don’t mean to be rude, just trying to drive the point home). Beside affiliate marketing and Google Adsense there are other great online business ideas that you can implement as a newbie entrepreneur. My personal policy is to engage in any legitimate online business that will give me residual income. I am careful to only implement ideas that can run as a system without me being tied down. I don’t want another job. I want a business that runs on its own. So, I avoid crazy online business ideas that aims at turning human beings to clicking or surfing robots. Sitting behind a screen and clicking for hours just to generate $5 dollars is a stupid online business idea as far as I’m concerned. Look at it this way, how many clicks will it take for you to generate $100,000 per year? If the answer is mind boggling, then it is a pointer that it is not the right online business strategy for you to implement.

Ok, enough of the ramblings, lets look at some top online business ideas for you to kick start your entrepreneurs journey. They may not be rated as the best online business ideas and opportunities, but you can be rest assured that anyone with access to the internet and a little determination can use any of these ideas to build a home based business or a part-time business that has the potential of recruiting staff in the nearest future. Note, these are not new online business ideas, but they have been tested and proven by veteran internet marketers and webpreneurs.

10 Online Business Ideas

1. Online Secretary – You can offer services as a virtual secretary to busy executives.

2. Online Tutoring / Internet Trainer – Online Tutor and trainers are becoming common.

3. Online Desktop Publishing – A little knowledge of word processing and one or two graphic software will put you into business.

4. Infopreneur – You can package information and sell online to people who need such information. That is what ebooks are all about.

5. Online Consultant – Are you a professional? Expert in a particular field? Turn your years of experience into a money minting machine by providing consultancy online.

6. Online Unique Party Organiser – Hey, some of us are not just good in getting things organized. If you are a good planner, you can offer your service for money.

7. Website Designing – Get in touch with the owner of crappy websites and offer to redesign for them at a cheaper rate. You can get serious jobs if you can package a presentation to convince those entrepreneurs that are yet internet shy to establish an online presence for their business.

8. Internet Researcher – you may not believe it, but some folks consider Googling as too much work. If you love searching for information online like  Shelock Holmes (a freelance detective 😉 ) this business idea will suit you.

9. Online Book-keeping Services – Are you a trained book-keeper or accountant? You can help many folks that are getting into trouble with the Tax Authority as a result of muddled up books. You can employ the use of telephone calls, instant messenger and email to get their transaction details while you prepare a professional book of account for them for a fee.

10. Ebay Seller – Do I need to explain this? You or someone close to you must have bought something from EBay before. Go into your attic and look around, you will be surprised that there are items lying down there that you can sell for some little money on Ebay. By the time you exhaust that, you can go to GrandMa or Friends Attics and help them dispose off (at a profit to yourself) all those old toys, books, magazine, music CD/DVD etc.

This post is getting too long, so I have to stop here. I’m planning to give greater details on how to implement some of the online business ideas mentioned above in my subsequent posts. However, if you love playing Shelock Holmes, you can get information by conducting a little research on any of them using the free search engine, Google! I encourage you to bookmark this page to Delicious so that you can return to it later. You can get the future updates to this post Online Business Ideas by subscribing to my RSS feed. The subscription is free. I look forward to feedback from you through comments. If you need any assistance don’t hesitate to make a request. See you at the top. Cheers.

Incorporate Your Business

Friday, February 20th, 2009

Why should I incorporate my business?

There comes a time when an entrepreneur begins to consider whether or not he should incorporate his business. I will be looking at What Incorporation is, Benefits of Incorporation and reasons people give for not incorporating their business.

What is Incorporation?

It is a legal process by which a business receives a governmental legal permission to operate as a distinct and unique legal individual (entity) different from its owners. The business is thereafter seen as an individual that can own property, earn income, pay taxes, incur liabilities, sue and be sued.

So What Benefit Can I Derive From Incorporating My Business?

Well, there are several benefits that you as an entrepreneur can derive from incorporating your business. I will share seven benefits with you. There are of course several others.

1. Limited Liability

Limiting the liability of an entrepreneur to what he has invested in the business is the major reason why entrepreneurs are encouraged to incorporate their business. Unlike the sole proprietorship, where the business owner assumes all the liability of the company, when a business becomes incorporated, an individual shareholder’s liability is limited to the amount he or she has invested in the company. I listened to a sermon preached by Pastor Ashimolowo during the IGOC 2008 conference. In the course of the sermon he gave a pathetic testimony of an entrepreneur who almost went bankrupt because of one of his business was sued. The business was registered with the Corporate Affairs Commission of Nigeria as a sole-proprietorship business and not incorporated. So when the business was sued, the entrepreneur did not only loose what he invested in that particular business, but his other businesses and also his personal assets. (more…)

7 Tips For Becoming More Productive As An Entrepreneur

Friday, February 13th, 2009

How often have you felt sad as an entrepreneur when you review your accomplishment in a day? How often do you feel guilty and tell yourself that you ought to have done better or accomplish more in your business venture or personal life? Well, instead of feeling guilty or sad, here are some tips that will help you get your acts together and become more productive in your business and personal life.

Plan Your Day, Have A To-Do-List

If you are really determined to become more productive as an entrepreneur, then the very first step is determining what you want to achieve. You must have specific business goals or objectives which when accomplished will give you that satisfaction that you have been productive. Once you determine your business goals, write them down. Then the next step is (more…)