Ever had a customer whose nuisance value exceeded his profit potential? Or who demanded champagne service at beer prices? The fact is that some customers just aren't worth it -- but how do you deal with such a situation? The first step is recognizing that the relationship needs to end. Some of the signs [...]
The last few years have seen a lot of business reorganization driven by the recession and an economy that is still struggling. An instinctive reaction to tough times is to cut, and to grow when times are good. But that may not be the best strategy for your company. If your organization is not [...]
If you extend credit to your customers, how long has it been since you’ve done a credit check on your accounts? If it’s been more than a year, it’s been too long. You may know that JK Harris & Co. was my client (I was the ghostwriter for JK Harris’ books Flashpoint, Sales Flashpoint, and [...]
Businesses lose millions of dollars each year due to unscheduled absenteeism. The most-cited reason for last-minute absences is family issues, followed by personal illness, personal needs, stress, and an entitlement mentality. When an employee is unexpectedly absent, you have to pay direct costs (the salary or wages paid to absent employees) and indirect costs [...]
A few days ago, the writer of an op-ed piece in the local paper said that we needed to get "corporate money" out of politics and suggested that the way to do that was through legislation. I disagree. We've got plenty of laws. We don't need any more of them. (Although I wouldn't oppose a [...]
Satisfying your customers is not enough to keep them—you need to make them loyal so they’ll keep coming back to you instead of another supplier who does enough to satisfy them. Here’s how to turn your satisfied customers into loyal advocates: 1. Find out what your customers want and provide it. Don’t guess; ask them [...]
The highest quality e-mail database you can build is one where your subscribers have purchased from you and have opted-in to your list. These people are ripe to become repeat customers—as long as you don’t chase them away. I do a lot of online shopping and I like getting e-mails with specials, discounts and new [...]
A judge in a Florida case has ruled that debt collectors may not use social networking sites to contact debtors, their family or their friends. I found this case interesting in part because I used to write a column for Commercial Law Bulletin (published by the Commercial Law League, an organization of collection, creditors’ rights [...]
Should your business have a Facebook page? That's a question you have to decide based on the type of business and your particular market. Most companies can benefit from a Facebook page, but you need to set it up right. A Facebook basic: Your profile is you as an individual; your page is your company. [...]
Is social media—Facebook, LinkedIn, Twitter, YouTube—a fad or the wave of the future? From a company policy perspective, the answer to that question doesn’t matter. The fact is that you need a social media policy that clearly defines what your employees may and may not say about your operation on social media sites—and you need [...]
