When you started your business, you had a plan and goals in place to make your business successful, probably the most important one was to attract and win lots of customers.
Indeed, without your customers you would not have a business!
But, if you asked your customers if they are satisfied with your business what do you think they would say?
And in the competitive world we live in today, is simply satisfying your customers enough?
The simple answer is no!
Research suggests that between 60% and 80% of customers who describe themselves as simply satisfied by a business they have used, fail to use that business again!
So, what is clear is that if your business strategy to get and keep customers is built on just satisfying them then your business will not achieve what it could...
Instead of merely satisfied customers, aim for loyal customers.
Loyal customers will make your business grow, become more successful and give you the edge over your competition.
Click here to learn how to create loyal customers and transform the profits of your business.
It's true, no one really likes conflict...
However, when you are making high stake decisions you don't want passive bystanders who just readily approve of everything you say, especially if deep down they don't agree.
You DO want to encourage healthy debate...
In your business meetings, do you welcome opinion, encourage debate?
How often does healthy conflict occur in your meetings about important, high impact decisions?
Remember, even in meetings where the stakes are high, you have already made the preliminary decision and may end up having to make the final decision.
Al Pittampalli in his book 'Read This Before Our Next Meeting' suggests a simple meeting process for high stake meetings:
1) Share the issue only, avoid sharing your preliminary decision, You then avoid people readily agreeing with you to avoid conflict.
2) Get attendees to share their thoughts, do this before you share yours.
3) Reveal your decision, invite and encourage disagreement.
4) Provoke debate if it is not forthcoming by using questions.
5) After robust debate, seek agreement.
6) If there is no agreement, then you make the decision and let everyone know.
Most people shy away from conflict but when you encourage opinions and debate, you increase the likelihood of a good decision and avoid catastrophic decisions and actions, or worse, no decision or action.
Click here to learn how to use this process within your business and have great meetings and great decisions.
See the table below for the changes to the National Living Wage and the National Minimum Wage. The rates change every April.
Other important changes from April 2018 are:
If you have any questions or would like any more information on any of the upcoming changes then contact our payroll department on 01254 300050.
Mastering the science of pricing and applying it to your business is a source of far greater profits. McKinsey, the global consulting firm, suggest that pricing has a bigger impact on your profits than anything else.
Every business owner who is serious about profit growth should be equally serious about the science of pricing.
1. Collect 3-tier pricing examples.
Don't just use guesswork, it isn't enough, some of the most successful companies in the world use 3-tier pricing. Please see our downloadable tools for examples from EasyJet, TripAdvisor and Starbucks. We have even included an example of bottom up pricing used by BMW to show that in some cases this can work too.
2. Build a 'pretend' tiered pricing offer for your business.
This should be in line with the pricing you have in place now (unless it is something you have never addressed) but have pricing anchors in place and offer one or two different pricing tiers for your business, the key is to have a top, middle and bottom price, it is proven that buyers feel more in control if they have options to choose from.
3. Test and measure with real-life buyers.
This is very important, as you will never be able to know if it works or not, so do not be afraid to get it wrong and do not be afraid of criticism, all feedback is good and it will allow you to adjust, improve and move forward. Only when you test your pricing options will you discover which options deliver the best profits for you and your business.
4. Keep testing. Make price testing something your business does regularly.
Once you have arrived at a tiered system you are happy with, don't rest on your laurels, keep testing it, changing it and making the necessary adjustments to keep your pricing sharp, your buyers in control and happy and you one step ahead of the competition.
Click here to read more about putting this plan into action.
I am sure like every business owner you have doubts.
Doubts that you are:
But do you allow those doubts to hold you back?
Or do you push through those doubts and make the necessary decisions without being afraid of failure?
Doubts about whether you can or can't do something will hold you back.
These same doubts will hold your business back.
They make it less likely that you will achieve the things you dream of because you are running from the fear of failure.
When you turn failure into a positive learning process, the fear of NOT getting it right becomes the challenge TO get it right.
Know for certain that you can do something and your self belief improves.
Know for certain and the focus, effort and perseverance that you put into achieving that something means that you have increased dramatically your chances of success.
When you have the right mindset, the power to make something happen is yours.
Click here to learn that the dreams you have for your business can become a reality with effort and persistence.
SPAM: Irrelevant messages sent on the internet to many recipients.
We all get spam, emails that are irrelevant, potentially containing a virus and basically just a complete waste of time. Researchers have determined that over 25% of what lands in your inbox every week is SPAM.
So, as a business owner using email to market your products and services how do you make your customers and future customers sit up and take notice?
How do you make your email stand out from all the other emails that person receives?
The answer is: relevant high value content…
Relevance is your marketing best friend.
When your email marketing is not relevant, it’s not good.
Relevance matters not only because it provides targeted high value content, but also because it builds trust in you (the sender). It makes the reader willing to read on.
If the reader (your potential customer) receives an email about a specific subject that interests them, or a specific subject they have an issue with – then you have their attention.
Click here for your 4 page report to read how relevance can not only increase the success of your email marketing but the profits of your business...
Whether you love it or hate it negotiating is a part of everyday life, whether it’s discussing who drives on a night out, with your children about what time they go to bed or which location to choose for a holiday…
So how are your negotiating skills?
When you’re preparing for a negotiation how do you feel – Nervous? Excited? Ready for a fight?
Your ability to negotiate well is critical to the success of your business also, poor negotiation can cripple a business just as quickly as losing key customers.
Whether you love negotiating or, like the majority of us, feel nervous before entering into a negotiation, the fact of the matter is that you can get better at it.
Successful negotiation does not have to be a battle you have to win and the other party must lose.
And you will negotiate better agreements when you stop seeing negotiation as an ‘I win, you lose’ conflict.
For the long-term success of your business you should aim to create a courteous and constructive interaction that is a win-win for both parties.
Click here for your 4 page report to learn that the key to success is seeing every negotiation as a path towards mutual agreement…
Andy Murray, Jessica Ennis-Hill and Yo-Yo Ma are world class because of their talent and hard work...
or is it something else?
What if their success is a result of a way of working and their practice formula?
Repeatedly reaching and making mistakes at the edge of your capabilities will lead you and your business to achieve more and have greater success...
Click here to read reach for success.
In this repeatedly reach for success edition you will learn, in the time it takes to drink a cup of tea:
Are you ready to reach repeat and fail at the edge of your learning to ensure your business succeeds?
If your business lost major money for three months, one after the other, you’d be stressed…
…you’d be stressed enough to do something about it.
Making a loss prompts a strong emotional reaction. And a strong enough emotional reaction results in corrective action, as it should.
But shouldn’t you be taking timely action to prevent the losses in the first place?
In a nutshell:
Use customer-focused, healthy heartfelt business measures and you’ll take action sooner. Take action sooner and you’ll avoid problems leading to losses in your business.
Like most business owners and managers you are familiar with KPIs – Key Performance Indicators.
And yet most business owners and managers measure what they think is right rather than measure what matters most.
Here’s a proven solution for you…
Measure what matters to your customers and the health of your business will be safe and sound.
Click this link and select the "Why risk the health of your business by measuring the wrong things?" In the time it takes to drink a cup of tea or coffee you'll learn how using customer-focused,
healthy heartfelt KPIs can preserve and grow your business.
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