Small Business Success

Small Business Success

Have you finally launched your own business? Are you concerned about the path ahead? Two golden phrases that give you all the magical powers for the journey ahead are “know your customer” and “love your customer.” If you truly follow these two simple principles you are bound to actualize your vision and succeed every step of the way.

Whether you own a school, a restaurant or a software company, knowing your customer is the key to gaining market share. To truly know your customer (KYC) you need to move beyond the basic level profiling that generates non-personalized data about customer demographics.

You need to completely understand what makes your buyer happy and what irritates her. Build a meaningful relationship with your clients over the phone, face-to-face contact, or even personalized e-mails. Social media e.g. Facebook groups can be used very effectively to intervene when your client has a genuine problem. You can explain to your user at the right time how your product will help her solve the problem. So you avidly track all customer touch points for new customer insights. You could also use call recordings with the customer’s permission to truly understand what drives your buyer.

Once you know your customer, the next step is to love your customer. Sales staff who disappear as soon as the product is sold are negative marketing. A complaining customer can actually help you fine-tune your product to perfection so don’t ignore critical clients. Love them!

Now take this magic with you, do some financial planning and start building your team because you’re all set to go.