You need two skills in business.
Communication skills and management skills.
Communication is what sells your product
You have to be on everyone’s ears, eyes and noses. Keeping in touch with your clients helps you form more than just a clientbase but a relationship too. Communication helps you define that relationship. You want to be their friends but you want them to be your loyal customers. Its crucial to make that boundary.
Communication also calls for innovation. Its an art. One does not simply say 499/= for a set of headphones. One can also give a free cd from some artiste you are in pertnership with. You can pack it up in some really trendy package while you are at it. Be creative with it. Its an image thing not a ‘sell and move on’ thing. You are looking to make your business viral by selling an image and not just a product.
Imagine you have product A. It a drycleaning business. All you need is to break even with all the expenses you took up when starting it. Getting clients from the neighbourhood alone will not help that. You have a dozen other hoods around and they don’t really have access to a good drycleaning store.Sounds like an extra market to me.
What a typical drycleaner would do is to put up a sign that reads Mr CleanPress Drycleaners above his shop. That will get you all the clients from the neighbourhood. It will take you 1 year to break even with such a market. A more than typical drycleaner would put up the sign and put other small signages around the other hoods. This will get you your own neighbourhood’s market and a few clients from the other neighbourhoods. This will help you break even in 8 months. An even better drycleaner would add some buzz and put some jisty graphics onto the signages so that he can pull everyone’s attention. On top of that he can give a 3 month offer where everyone gets a funny t-shirt for free for signing up into monthly premium membership. You break even in 4 months. After that you will be literally rolling in dough.
Communication is also about listening. Put two or three attendants at the door of the shop once a week to take queries and suggestions from each customer. Even a note can suffice. But do not write suggestions or comments at the top of the note. Ask two vital questions that will actually help the business. Did the cashier attend to you well? What products do you want to see introduced?
Then comes the management needs
I always say, you need to ship in order to stay in business. Management is about keeping your head above things – knowing exactly whats going on.
It’s the science in the business. This involves promptly delivering, improving your product, keeping operational policies in check, checking your finances and careful expansion. You do not need to be creative with this. You simply need to observe, note and conclude. You are basically the scientist analyzing a system that is in progress. A notebook is very useful when managing your business. It keeps track of everything that has been assessed so far. You can use ledger and minutes but if they are only going to complicate your life then toss them in the bin.
People often disregard the importance of controlling a business’s quality. Banks have suffered business because of this. The biggest complaint that any bank client normally has is the long queues they experience. Because of this a lot of banks have turned to internet banking. But imagine the frustration of taking an internet banking plan only to find out that it has some technical issues and you cannot finish your transactions in one day. That’s where management comes in. If you cant ship an extra item don’t even launch it. It beats sense to have more complaints about the firm’s products simply because a new product has been unleashed. Make it available and make it functional.
You also need to manage your staff. If you hire someone you will want to make them want to work and not need to work. This way they can even add hours without being told to which always translates to additional costs. People management calls for understanding and appreciation.
When these two tools are used hand in hand. You are bound to make a lot of organic growth in your start up in no time.