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Is your business suffering due to high gas prices and the economic woes of 2008? Are you waiting for business to return to "normal"?
If so, you must revolt: Stop doing the same old things and reinvent your plan to succeed with the current economic state and the future of your industry in mind.
If you’re spending your cash reserves waiting for things to return to the way they were before, the first thing you must do is let go of the past and change your thinking. Business will never return to normal: Now is normal. It’s time instead to create your manifesto for change. "A manifesto?" you might ask. Absolutely. It is your official declaration of intentions, motives, and principles of action that will cause your business to thrive, even in tough times.
Where do you begin?
Review your current business model: Is it outdated?
Evaluate your ability to create a level of connectedness at every customer interaction that would cause your customers to be loyal to you.
Ask you customers for performance feedback—no complaints does not equal customer satisfaction.
Measure your customer retention rate year to year. Is it 95% or more?
Identify how you will deliver value to your customers now and in the future. If you aren’t valuable, you won’t thrive.
To thrive, you must connect with customers like never before. Communication is the key to trust and rapport building. How would your customers rate your ability to create connection? Providing a comfortable business atmosphere is critical to customer retention.
Charlie Fewell & Associates
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
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