Goodwill – the magic formula for Christmas!

With Christmas rushing upon us fast – all of us in business who have existing and potential clients - should take time to reflect on what clients really mean to us.

Clients are our lifeblood, without them we would have no business; no matter if you are an employee or a Chairman – still you owe your existence to a client somewhere along the road. Even the “bad” clients, the ones who are a real pain, in their own way they should have taught you lessons on how to improve your products, your service – even so called perfectionists have a use at times.

So how should we give thanks, how should we show some gratitude to all of the people (including your own employees) who have helped to get to where you are today and perhaps more importantly, to where you want to be tomorrow?

By demonstrating ‘goodwill’!

What is goodwill? In business terms, perhaps best described by an unknown ‘scribe’ as: “.. if you were left with no money, cash or credit .. what would your business be worth?”; or on a personal level, if you have no job, no money – who would invite you to a big Christmas ‘bash’?

Goodwill, like friends, is not easy to come by. It takes time and effort to create and maintain. How do you create goodwill?

For me, first and foremost it is about keeping promises, about creating value for people. The old slogans like: ‘My word is by bond’ have never been truer than in today’s over-stressed, win at all costs, never ending desire for money world.

Keep your word at all costs – it’s that simple – and your goodwill among friends and business associates will grow in leaps and bounds.

Secondly, create value in all that you do – value for whoever buys your product or service, not for you. Your value comes from having all the ingredients to build and grow your business in the long term.

And most importantly, especially around Christmas time, give something for nothing!

It is definitely the thought that matters more than what you are actually giving and for once you should ignore all so-called Business Gurus and give something for nothing, no strings attached, no add-ons, no front-end, no up-sell, no down-sell - something for your clients that has value for them (not you) and that consequently has the power to create goodwill.

With that happy thought, I sincerely hope that all of you are reading this with enjoy a great Christmas holiday season, that you and your family enjoy health and wealth in 2010 and that your business may prosper as never before.

This blog is also taking a break and we look forward to (and I hope you will also be looking forward) continuing our ramblings and occasional serious advice of how strategies can and do grow and improve your business.

Merry Christmas !

As always, I welcome your comments and am available for further discussion on making your business grow - http://www.asiamarketing.biz/

ferdi@asiamarketing.biz

A simple 1 step strategy for guaranteeing more sales and better profit margins, without discounting and at absolutely no cost!

This very basic and simple idea requires only one simple action on the part of your employees, the people who represent the products/services you sell and all that your company stands for.

treat your customers with respect

In the Armed Forces, officers are always told never to underestimate their enemies – no matter what the situation may dictate; in MBA courses students are taught to be polite and respectful to all staff and colleagues on their rise up the corporate ladder – as you never know who you are going to meet on the way down!

And success in business, at any level, has its ups and downs.

A change in attitude! That’s all it takes.

One of the biggest mistakes in business, that accounts for more lost sales, more lost business opportunities, lost customers – is this simple “attitude” of treating people who want to buy from you – with a lack of respect.

And here’s another home truth: all of us are guilty of committing this fault: from the Chairman and CEO, to receptionist and the office cleaner.

Be honest with yourself, how many times have you called a taxi driver an idiot, because he took a wrong turn or can’t find your building; your receptionist has given you a message and the number to return the call has not been written down; your boss has ignored a suggestion that is guaranteed to save the company money – do you shrug it off and smile or do you curse him/her (silently or loudly, depending on your position in the company).

Respect!

It’s difficult I know, but next time .. think kindly, you know he/she is not doing it on purpose. A kind word will go a long way to ensuring that next time they will try harder, because you tried harder – respect – that’s all it takes.

The retail trade is, unfortunately, one of the most obvious places where the dilemma of lack of respect and treating people with contempt is blatantly obvious – but at the same time it’s where a minute change in attitude – can show immediate results. And especially in a cosmopolitan city such as Hong Kong.

One example is the language problem. Take the example of a non-Chinese couple going to a Chinese restaurant. Generally, the waiters will either ignore them as they are shy in talking in English and the guests will be left sitting there. Alternatively, the waiters will attempt to force them to take the specials – which normally are the most expensive dishes on the menu. If they do not take them they are left sitting there. No respect! Take a little more effort to be friendly, to explain items on the menu – items the customer wants (not ones that you want to push because they are the most expensive and local would ever but them) – and you may find you have a happy, repeat customer who will become a regular at your restaurant.

Shopping in Hong Kong’s many malls is another example … where you see the shop assistants openly making jokes at the customer’s expense (looking at clothes that are the wrong size, do not suit the person’s age, whatever) – the majority of the time the customer will realize what’s happening and another customer, another sale – is lost forever, no matter the price, the discount.

Change your attitude! Make an effort to respect to people who take an interest in your products and services, they want to do business with you - and watch you business grow !

As always, I welcome your comments and am available for further discussion on making your business grow - http://www.asiamarketing.biz/

ferdi@asiamarketing.biz

Time and time again the simple answer is often the best!

No matter how many generations have heard age old axiom : KISS (Keep It Simple Stupid), from grade school to climbing the corporate ladder, through the successes and failures of entrepreneurship – KISS has transcended the ages and is today - still as relevant as ever.

When times are tough you see your colleagues desperately looking for solutions. They look to technology, to finding more professional help … if only we had more sales people and the most over-used excuse … if only we had more money … for more equipment, more sales staff , more investment funds etc.

Most of the time, your business problems and be traced back to .. listened to advice from too many other supposed experts, asking the wrong people (the first people you should ask are your existing and potential customers for whatever your products/services are) and ignoring the basics, the fundamentals of your specific business.

In many ways it is natural to want to continually improve your business and look for ways to better your product/services. However, it is usually the proprietor/CEO who is the first one to want to change a product/service, not because sales not badly or because customers are complaining – but because they are personally tired of the same old message, the same offer, not the customers.

A perfect example is your average supermarket. They have a policy of changing the location of product displays for no reason - not quite true as they will claim it increases sales by making it look like new products to different people. As the customer, I will always disagree as it annoys me to have to for goods that were in a set location, that have suddenly been moved somewhere else and I have to spend time walking around looking. Contrary to what Supermarkets may think this does NOT make me buy more as I wander around as I get more and more frustrated by being able to find what I want – not a good mood to think about other purchases. I always think they could achieve the same effect by improving or changing their ‘signage’.

So what’s the answer? If you have a problem, start by going back to the fundamentals of your business. How did you start, what did you do to become successful in the first place? Then move forward one action at a time until you find the one item that’s not working for you at the moment – then fix it! Simple.

I mentioned before the perennial excuse used by business people the world over: “.. if only we have more money,” to explain why they can’t solve their own problems. The real question they must asked themselves (as the people who have the money will do): ‘If I had more money, what would I do differently today - from what I was doing yesterday and how would it help?”

If the fundamentals are wrong, the pricing, the alleged benefits, the social-economic aspects of the target market; then spending more money on sales staff, on buying new equipment and so on, is only going to magnify your past problems.

The answer is: Go back to basics and Keep It Simple Stupid!

As always, I welcome your comments and am available for further discussion on making your business grow - http://www.asiamarketing.biz/

ferdi@asiamarketing.biz