Back to Basics

Back to Basics

Few business owners would be bragging about their businesses performance at the moment due to the myriad of recent challenges such as natural disasters, a global financial crisis, declining building and tourism industries and of course our unstable government.

 

It is highly likely though that those who are trading well in the current economy are also the ones that get back to basics and continue to implement and review their business principles.

Sure, it would be easy just to kick back and wait for things to improve; however, to remain viable it is essential business owners reassess their core values, operational systems and goals. This will not only improve profitability but also the saleability of the business should circumstances change, which often happens without warning.

When I started my sales and marketing career (as a 17 year old) I was fortunate to have a legendary mentor. He insisted on hours of one on one role play and drummed into me the importance of listening skills and exemplary customer service techniques. Additional homework were novels like Dale Carnegie's "How to Win Friends and Influence People" (first published in 1936).
 

At the time this seemed way over the top and I had no idea I would be benefiting and using those skills 30 years later. Despite being the most basic of all business skills they are essential for success.

In difficult times business owners need to get back to the basics and have a good look at how their business is perceived by customers, suppliers, staff and service providers. Too many owners complicate business and lose focus on the most important aspects of all - exceptional customer service, honesty and fair value for money.

Improve these qualities and profits will increase, as will the sale price of your business when you sell.
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