Power Down the Lights on Poor Customer Experience

TURN DOWN THE ATTENTION...

Whether a business owner or employee for a huge enterprise, it is quite humiliating when customers complain about the product or service offered.   Even if the complaints are warranted, it is even worse when customer service is so scripted that the customer cannot get the problem resolved.  This sparks frustration that can morph into bigger problems for the business – bad press through word-of-mouth and social media.

So how do you power down the big noise?

• Acknowledge the customer’s issue as a serious issue.  If it is ignored or downplayed, the frustration levels grow higher and the negative backlash will increase.  Set up a time for a chat session or discussion with a seasoned customer service individual with common sense.  Reaching out to the customer shows concern and willingness to resolve the issue.
• Have a senior customer service representative or manager respond.  Dumb questions from the junior person or overseas operator will only exacerbate the problem.   Senior personnel should know how to do the best research and also have the ability to override charges, provide discounts, or escalate where necessary for the quickest possible solution.
• Send a thank you letter/email/tweet from the business.  Appreciation speaks volumes to any customer, especially the one who has not had a good experience.  If a discount is available, offer it without being asked for it. 

Everyone learns from the misfortunes of poor quality in product and customer service.  However the difference in keeping the customer and having to put out bad publicity fires relies on the ability to quiet the complaints before they spiral out of control.  When in doubt, always remember – “A good paying customer of one company can easily move on to be a higher revenue customer of the competition.”

Read more »

Posted in: customer experience,customer service,Get A Clue,new business,quality service,Small Business Administration,small business expert,social media,Social Media and Business,Temeko Richardson

Best Read Friday - Richard Branson's Funding Pitch Advice

Richard Branson...Virgin Group Founder

Over the last three weeks, we have focused on the business plan in a two part video series (Part I and Part II) and how all the pieces need to come together to structure lending and venture capitalism in last week's Best Read Friday.  

The test comes when the meeting is set up with potential lenders or investors. You must convince them that the plan is so airtight that eventually they will get some return on their investment.  In a nutshell, they don't want to just throw their money away.

Here are some tips on what to mentally prepare when speaking to potential investors when pitching your entrepreneurial creation.  Not only are these tips proven but specifically called out by billionaire entrepreneur and Virgin Group founder, Richard Branson, in this article as successful tools to keeping the interest of the investor.

Read more »

Posted in: business expert,business plan,business planning,Entrepreneurship,Richard Branson,Small Business Administration,small business expert,Temeko Richardson,Virgin America,Virgin Group

Limit Business Plan Mistakes and Increase Funding

Gotchas of the Business Plan...

The two part video series posted on this blog on developing a business plan over the last two weeks (Part I and Part II) helped to gather the specifics.  However there are some nuances that might need to be corrected to make sure all the appropriate information is in order to secure funding from lending sources or venture capitalists.  

 Check out this article to prevent from making mistakes of either overloading or under-fulfilling the information needed for funding from the business plan.  http://www.entrepreneur.com/article/81188

Read more »

Posted in: business expert,business plan,business planning,Small Business Administration,small business expert,Temeko Richardson

Video Series - Essentials of a Business Plan Part I

PART I - Starting with an Idea...

It is not enough to have a burning desire to be your own boss, leave the corporate world behind, and do something you like by your own rules.  There must be a plan to make sure it is thorough enough to last beyond a couple of years.  This two part series provides a blueprint for the aspiring entrepreneur who wishes to put a plan together and seek funding to pursue their interests.

Check out Part I of this video series to start the planning efforts:  http://youtu.be/CMtXiF8WRxg

Read more »

Posted in: business expert,business plan,business planning,Small Business Administration,small business expert,Temeko Richardson

Best Read Friday - The SBA - A Mixed Signal for their Purpose

Businesses Not on Either Street?   

Most people start a business with their own funds or personally secured financially backing.  The Small Business Administration (SBA) has been a forward-thinking group in the past to help small businesses stay up and running when they can't secure capital from Wall Street and they are not branded enough to be located on Main Street.  However, there are mixed feelings about the organization given the economy and the lesser likelihood of banks financing startups or existing bank relationships extended lines of credit.

This article identifies the contrasting views of the assistance the SBA provides based on the needs of the company.  Does it really benefit the majority of business owners?  Time has already told but listening has to initiate action.

Follow on twitter:  http://twitter.com/temekoruns
Like on Facebook:  http://facebook.com/execgetaclue

Read more »

Posted in: Entrepreneurship,Leaders,Leadership Skills,Small Business Administration