RE: It's far easier to hold onto people than it is to get new people.
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Change can be scary and people like to feel safe in the knowledge of where they are and what they are doing.
I have never thought of business in this manner. My thought has been that "if a client misbehaves,I will show him that a the contracted also have rights" You know there is this slogan we have here that customers are always right and they can do anything to you including public assult is right cause they are your customers. Now that philosophy has a way of undervaluing a business man. Well maybe they always say that because they want to win the trust of the people they are doing business with thereby permanently owning them. Now I know that they are afraid of change most especially in this world of mixed multitude all in the name of entrepreneurs. I have learnt now and I will make necessary adjustments.
Most start-ups fail and it can be due to lack of money or lack of staying power by the owners.
Now concerning this, I was almost backing out of business sometimes in February when I completed a project for someone and when it was time to get the remaining payment,problem came and I tried all way possible to keep the connect but it was just not visible so I had to let it go.
Money is very important in making a business work. One of the major reason why some start ups don't last according to my observation is that they get less of their expectations in a transaction.
Word of mouth plays a big part in growth and if that is positive it will lead others to find you.
I always long to get positive feedback from my customers because that will bring others to me.
Trust me this is really a great write up that will help many starters like me.
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Thanks for the detailed reply to my post. I have spent 15 years managing in different businesses and learned plenty of tough lessons along the way. While we have to treat the client with politeness and respect, from a business point of view we can usually say that the customer is normally wrong. The trick here ios to make them happy while steering them in the right direction and making it a good experience.
I'm thinking about opening my own business in the new town that i have just moved to as there is a gap in the market for more business. It is a small area with no facilities that is crying out for people to start something new.
Funds will be a big part of this as i know that we will need to survive the first 5 years before being able to live comfortable=y form the business itself. Until i can set up my finances to cover the first 5 years of trading then there is no point in trying to run a new business since i will be under pressure form day 1 to survive.
It takes time to pay off the initial expenses, build reputation, build a customer base and grow to a stage where it becomes profitable. A lot of people don't understand that concept and think that if they have a good idea it will just take off and make them money.
Without time and building a brand and customer base it is doomed to fail even if the idea is good. That takes time and money which a lot of people underestimate.
Feedback is a great tool for businesses as it shows your strengths and weaknesses which you can use to improve and adapt for further growth.
Thank you for this advices I am really enjoying your read.
I most say I am delighted am your follower here. I am really thorns from your post. Thanks sir and I pray that your business plan in your new town blossom faster than you would think or imagine.
Thank you