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.”

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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

ObamaCare and The Business Fare

BUSINESS STRATEGY FOR MEDICAL CARE..

Almost half of America's uninsured are small business owners, independent contractors, employees, or their dependents because independent insurance plans are exorbitantly priced.  Unless there is an option to be a part of a professional group, trade group, or special-interest group, the age, location, and preexisting condition factors can cost a small business and independent workers nearly the entire profit. Larger corporations with more than 50 people get group discounts that enable them to contribute to health benefits at lower costs and use that as leverage when hiring employees.

For the small business and independent workers group, ObamaCare introduces the Small Business Health Options Program (SHOP) as part of every state's health insurance market for group health plans to be purchased by companies employing less than 50 full-time workers.  In 2016, the limit will be raised to 100.

But what does ObamaCare, the act that goes into effect today regardless if the government is shutdown, mean in general for all businesses?  It's good and bad based on the number of full-time equivalent employees (FTE) and their annual wages.

1)  If there are fewer than 25 FTEs with an average annual wage below $50,000, tax credits will be provided to help pay for employee premiums.
2)  If the business makes over $250,000 in profit, there will be a .9% increase due on the current Medicare Part A tax.
3)  If employers with over 50 FTEs yielding an average annual wage above $250,000 don't purchase health insurance for their FTEs, a penalty will be assessed by 2015.  Companies barely hitting this limit will be exempt from the fee on the first 30 full-time workers. Nonetheless, the employer mandate, a written notice, must be provided to employees informing them that a) they may be able to obtain insurance based on their income at a lower cost through private insurance and b) purchasing insurance through their states healthcare exchange may reduce or eliminate the company's contribution to their health benefits.

Clearly the smaller the business the better the tax breaks.  However, there will be executives enticed to reduce costs by modifying the normal 40 hour work week for some FTEs to that of part-time status or reducing the average annual wage by furloughing higher paid individuals and possibly bringing them back in as contractors or hiring more "temp workers" rather than employees.  But some of that is just good business anyway after learning how to run lean in a down economy.  Whatever category your business falls, the fare can be cheaper or costly but requires planning.

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Posted in: 2013 government shutdown,and smallbusiness,Government Shutdown,ObamaCare,small business expert,Temeko Richardson,The Truth about Obamacare

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.

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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

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

Video Series - Essentials of a Business Plan Part II

Part II...

Hopefully you completed gathering the information for the first part of your business plan from last week's lesson.  http://youtu.be/CMtXiF8WRxg 

Watch this video for the second part to the series to complete the business plan to determine if your business idea is viable and prepare for financial planning for the sustainability of the business.  
http://youtu.be/bzh-Waht1j0

For more information,be sure to follow my tweets on http://twitter.com/temekoruns and my blog at http://blog.therlcgroup.com

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Posted in: business expert,business plan,business planning,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

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

Best Read Friday - Entrepreneurs Rise Early and Shine

SUNRISE FOR BUSINESS WISE...

There is a reason entrepreneurs have a daily ritual of getting up early and starting the day.  They get ahead of the busy schedules and the time demands of meetings.  Just like breakfast is the most important meal of the day so is organizing the day and getting a headstart on deadlines for business owners.

Check out this article on how to build up the stamina to be the morning person that is successful as a business owner by rising early to shine.  http://bit.ly/12ZdTU2

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Posted in: Entrepreneurship,small business expert,Temeko Richardson,Time,Time management,work-life balance

Dealing With Difficult Clients

THE HEADACHE OF DIFFICULT CLIENTS

Whether you are a lawyer, hair stylist, insurance broker, physician, dentist, independent consultant, or established entrepreneur owning a company with multiple employees, there is always that difficult client who either makes the blood pressure boil or influences the need for a breath of fresh air or a drink.  I am not talking about the client who rightfully expects a product or service they paid for or was unfairly treated or was charged an exorbitant fee. I am referring to clients who never are happy no matter what you do.  

So how do you deal with these individuals?
1). Do not feed into their misery. Stay positive and offer recommendations with valid reasoning to counter their complaints.
2). Be patient and allow them to vent. Sometimes, not all the time, they will lower their voice and stop talking. At that point, you can interject with the voice of reason of which they may listen.
3). Don't even try to out-talk or talk over them.  Chances are, they have mastered intimidating others by not allowing people to speak.  If you can't get the opportunity to speak, let them finish. They need an audience and a response for their ego.
4). Placate them by apologizing that you can't accommodate them. Use this after you have exhausted all the other methods. They will either give in and calm down or ask to leave the business relationship. This is your chance to close open-ended invoices and politely engage in conversation to vacate contractual obligations.

When its all said and done, still give quality products and service and never miss deadlines. Do not give difficult clients any ammunition because in most cases, they will be your BEST references.

For more tips like these and overall business strategy, be sure to pick up a copy of the book at Amazon.com (http://amzn.to/10Somc1).  Also follow on Twitter @temekoruns and check out informative videos on the YouTube channel - http://bit.ly/Vtzm2s

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Posted in: Exec Get a Clue,Get A Clue,Impressing People,productivity,program management,project management,small business expert,Temeko Richardson,The RLC Group

Video Series - Doing Business Requires Dating Skills

A CALL BACK SPEAKS VOLUMES...

Meet some executive on the plane or at the local coffee shop?  Exchanged numbers with a solid business person at a conference? Received a complaint from a justifiably upset customer? 

Relationship building in business requires the same simple healthy communication as dating - a callback.  It is common courtesy and shows respect for the other person's time, availability, interest or concern.

Check out this video to see why the callback is so important in business relationships. 
http://youtu.be/cUcCbC1yAGE

Check back every Monday, Wednesday, and Friday for more business and networking tips.  Be sure to follow on twitter at @temekoruns.
Purchase the book today on Amazon: http://amzn.to/10Somc1

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Posted in: Business Etiquette,business expert,Impressing People,Leadership Skills,Seconds to Impress,small business expert,Temeko Richardson

Personal Satisfaction through Corporate Giving

IT TAKES A TEAM TO HELP...

Although Fortune 500 companies have the manpower and bandwidth to allow a missed day of work for volunteering, entrepreneurs of smaller companies need to focus on giving back as well.  Larger corporations tend to have community relations efforts and philanthropic teamwork to give back to a cause.  In many cases I have had clients of which these initiatives are required of the employees.  It turns from a request for volunteers to a mandate undertone for continued employment.   But what can companies (small or large) do to increase philanthropy by ensuring their employees have a sense of personal satisfaction?

1. Put aside political agendas and reach what affects the majority of the internal workforce.  Look for causes of which mostly everyone has either been impacted or knows someone that was affected.  Drawing on that sympathy will inherently encourage participation.
2. Increase corporate visibility of the efforts by highlighting participants in videos throughout the company.  Most companies have marketing and public relations departments that focus on corporate videos.  When others sees a familiar face involved in giving back to a cause, they will evaluate the cause and give involvement a thought.
3. Listen to the employees' passions.  Distribute surveys, research their social media insights, and ask questions at company meetings.  Take the top 3 interests from the collective group and set up key leaders for the philanthropic initiatives.  After all, the more employees believe executives are listening, the more willing they are to work hard for the betterment of the company.

No one likes to be told what to do with their free time.  Requests that come off as mandates to volunteer during work hours don't motivate people to give 100%.  Use the aforementioned tips to ensure the personal satisfaction of giving back outweighs the time given and the feeling of a company requirement.

For more tips like these purchase my book, Get A Clue - 10 Steps to an Executive IQ:  http://amzn.to/10Somc1
Check out the YouTube channel for more business insights:  http://bit.ly/Vtzm2s
Follow on twitter @temekoruns for some business and motivational tips.

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Posted in: business expert,helping others,Leadership Skills,small business expert,Temeko Richardson

Keeping The Rotten Apple

ONE ROTTEN APPLE SPOILS THE BUNCH...

It takes dedication and discernment after a lot of mistakes to hire the right people and build a team that can focus on accomplishing the goals of your mission statement.  There will be different personalities and work styles. However there has to be one common trait in all the people - the desire to build others up in order to meet a common goal.  If one person lacks this trait ("the rotten apple") the advantage of keeping him must outweigh the tolls on the rest of the employees.   

Here are some scenarios of how the "rotten apple" can have a negative impact:
1). Misinterpretation of requirements and instructions that need to be communicated to others. While maybe not intentional (and I stress MAYBE), this person will cause others to fail and assert himself as the person who can come to the rescue.
2) constantly finding fault in other people's work who are more experienced. It's not constructive criticism; its the way to prove self-worth and value to anyone who believes he is doing this in the best interest of the company.
3). Taking advantage of a less experienced individual or introvert and convincing them of self-truths like no one understands the business more than he does.
 
Only you can determine if it is worth it to keep this individual around by supporting the bad behavior.  Clearly not addressing poor behavior is a silent agreement but is it worth the cost? The cost of losing qualified people, loss of business, unwillingness of vendors to want to work with you, or you, eventually losing your company and salary. No matter how cheap the "rotten apple" is, the cost of fixing the problem he made might be too detrimental to the success of your business.

For more tips like these, be sure to pick up a copy of the book, Get A Clue - 10 Steps to an Executive IQ on Amazon.com (http://amzn.to/10Somc1) and make sure to follow me @temekoruns on Twitter.

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Posted in: business expert,Employees,Entrepreneurship,Exec Get a Clue,Get A Clue,Get A Clue,Hiring,small business expert,teamwork,Temeko Richardson

Best Read Friday - 5 Ways Businesses Can Optimize Social Media

An Internet Society...

Social media is a big driver in helping consumers understand and desire the brand a company offers.  Timing is everything and content is king.  Do not waste time updating information that does not make your brand stand out from the rest.  Check out this article by Kevin Allen on 5 ways to optimize the social media drivers for your business initiatives.  http://bit.ly/11blckO

For more social media strategies, read Friday's article recommendation on how to transform your business with social media.  http://bit.ly/10MkFWt

And stay tuned for Monday's post where I write from experience on the best strategies to gain audiences in social media for business executive.

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Posted in: business expert,Get A Clue,Kevin Allen,small business expert,social media,Social Media and Business,Temeko Richardson,The RLC Group