The Three Most Important Rules of Business
By Denny Durbin
Both small and large business owners must
pay close attention to their modus operandi, especially in these
times of inflation, recession and consumer cutbacks. All indications
point to this grim economy being a short window of our lifetime.
The key to coming out on top is paying close attention to your
customers and making them priority one.
The first thing managers must do in a
slow economy is get their priorities straight: Do they choose to
keep growing the business or just make sure they survive the
downtime? Many wise decisions are not based on net profits alone,
but on the future of the business. Even in times of slow spending,
everyone still needs products and services. Sometimes the first
thing business owners cut back on is marketing, However many
successful managers know how to focus on creative marketing
strategies and get creative to get the biggest bang for their buck. The three most important rules in any
1. Bring them in the door. Whether
you have a brick and mortar or a Web site, you have to bring
customers in the door to generate revenue. The key here is to be
innovative; never try to blend in, you want to stand up and be
noticed. It’s the edgy innovative things that make people point and
start talking about you and your business. If it’s a website that
you’re trying to promote, offer every friend you have something in
order to use their e-mail database to send out a couple of e-mail
blasts inviting people to check out your site. If it’s a street
address, with drive-by customers, you should focus on the curb
appeal, signage, landscape, front of building and entrance. Don’t
try to look like the guy next door, try a brighter sign with giant
letters that are easily legible at 45 mph. If you have no
customers, have your employees park their cars up front. If you’re
selling a product that can be displayed on the front sidewalk, carry
it in and out all day and keep trying new things to look busy.
2. Make sure they leave happy, and
can’t wait to return and bring friends. Your goal should be to turn
satisfied customers into loyal customers. You can be happy with
satisfied customers, but don’t be surprised if they also spend their
hard-earned dollars with your competitors, especially when price is
involved. Loyal customers, on the other hand, are far more focused
on quality and service when deciding where to buy. Loyal customers
will literally jumpstart your grassroots campaign by becoming mavens
for your business and telling everyone they know of the pleasurable
experience of doing business with your company. Essentially loyal
customers become a major part of your marketing and sales team and
the best part about it is you don’t have to pay them, you just have
to create them.
3. Know what business you’re in.
It doesn’t matter what business you’re in-- auto, apparel, banking,
restaurant, real estate, and the whole gamut of the business world--
you better know what business you’re in. You may be surprised, but
it’s rarely what you think it is. If you are in the restaurant
business, and someone asks you what business you’re in, you’re
automatic response would be, “I’m in the food business.” The real
answer to that question from a savvy restaurateur would be, “I’m in
marketing” If you answer you’re in the food business, there’s a good
chance you have a lot of empty seats and a better chance you won’t
be in any business long. But if you’re in the marketing business,
there’s probably people waiting to get a seat at your restaurant.
Everyone in business should be in the business of marketing. Once
you know the three most important rules of any business the next
step is to implement them. It’s one thing to know what you need to
do, it’s another to actually do it, and that alone can put you ahead
of the competition.
First, it’s important you know the difference between marketing and
paid advertising. A quick and simple definition of marketing is
anything and everything, nothing too small and nothing too big, that
you do to bring customers in the door. These are everyday, common
things that you’re probably already doing, but now you’re going to
look at these daily tasks in a whole new light.
In today’s fast-paced world it’s an ongoing education that every
business owner should be enrolled in. New tricks of the trade pop
up every day; the difference between a marketer and those who choose
to do the same thing every day is the marketer is a risk taker who
believes in being innovation and testing new strategies, at the risk
of making a mistake. Mistakes are considered necessary steps to
success, and truly successful entrepreneurs learn from their
mistakes. If you’re not learning something every day, you’re simply
not paying attention.
A good marketing strategy encompasses a wide variety of daily
exercises. Some are paid for, some simply involve the investment of
time and some forms of marketing cost nothing. A good example is
grassroots marketing. These community driven, word-of-mouth
testimonials have proven since the beginning of time to be the most
valuable form of publicity and marketing. They have great capacity
to jumpstart a worthwhile product, topic or cause.
A good mention of your business from satisfied customers goes a long
way toward sending you new customers. When you take a step further
and convert your satisfied customers into loyal customers, it’s a
guaranteed home run for your business.
Read other articles and learn more
about Denny Durbin.
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