Being an entrepreneur requires a lot of tactics to hedge. There are some customers that stick around more than others that I can tell you from experience. My brand is yet to hit that big stage but there are some who are already keeping it as their household name. It is very encouraging how someone can find satisfaction and confidence in what you are trying to build. It comes at a cost too; extra expenses. As I said, they are relating with you as an insider.
Ok, I have such a situation currently to sort out. One of our regulars called out to us concerning her pending birthday. We can't ignore this, she is looking for something to lift that moment from us. Over here, we are constantly punching our calculator to make sure we hit our target in such an expense filled environment. Does she know about this, does she care to know? We are trying to keep the money, she on the other end is trying to get it out courtesy of being a regular. Hahaha, we can't blame each other anyway.
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It is always as if you are not spending until the day summarizes. ALL those small businesses needs; pickup n delivery, man-power and other related sums to give you a huge cash outflow after a week and also a month. At such a state, you shouldn't even TRY to add more to that. In this situation, think of how many birthdays I will have to settle in a year. I will be reemphasizing on this in the later part.
This article is meant to expose small scale entrepreneurs mostly on how to go about and stay in profit while trying to satisfy your customer in the process. Avoid giving a customer a present, or an offer outside your area(s) of specification. Secondly, try and make sure it comes from the least expensive area of your business. For an instant NOW, should we be sending her some cash for our birthday? That will be a loss to us. You have to understand this is not greed but a smart calculation to keep business Moving.
I have had to consider a gift in the process, yet it will also cost higher. note; it is not about what you give instantly but how you will continuously be repeating that. We know customers, they spread news; you overspend on a gift for one customer and they will spread the news. Other customers will come through that door to make sure they get something bigger than that or perhaps an equivalence. Trust me, in a year, you should have dropped huge in revenue. This is not good for business.
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As an entrepreneur, always keep the money. We have decided we will be providing her a service bonus. At least, our laundry department can do just that without any financial difficulties. Let's just assume we decided to give her a midyear discount. A win-win indeed, she will be feeling important and of course she is; without a customer, there is absolutely no business going on. More customers may soon hear of this and will want to key in. It is also an opportunity to know more about our customer as follow up to keep them very excited especially and special days and moments like this.
This makes me remember how my bank always treats me on my birthday. All I see is a message and the moment it enters I will be remembering all the charges I have had to pay for the last 365 days within. Maybe that is just them saying thank you for complying with the charges. By the way, it is not that I am complying, there is no escaping. Nevertheless, I always feel that inner happiness, at least someone (or an organization) is keeping me in the calendar.
In conclusion, let me add, there are so many tactics you need to deploy as an entrepreneur to stay ahead of every curve. As I said, avoiding overspending is a necessity, cash flow gives life to business and revenue increase will help expansion. In situations where customers require those extra value services, I wouldn't advise you to give a deaf ears. What looks as a deficit can bring about long term profit. Even a bank as big as they are only giving out text messages and it has worked out at least to some extent. How about providing your customers with both (a message to appreciate their special days and a bonus product or service offer). Do well to make sure it is very affordable on the company's side. The best is your service rather than external expenses.
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