I first heard this expression when I attended a conference years ago and it has stayed with me.
I operate on this mantra and when working with business owners I often remind them that the power of an idea is in its implementation. We all have ideas … ideas that can improve our business, relationships and health but we often fail to implement for any number of reasons:
- fear of losing customers or sales
- too busy fighting daily fires, and
- change is hard
However, simple ideas when implemented can significantly change your business. Here are a couple of my favourites…
Idea #1: Just say “NO”
Say NO to the work you do not want – whether it be a particular type of work such as small unprofitable jobs or difficult customers. However, for most business owners, it is very hard to say no because they haven’t really defined what it is they do for their customers, who their ideal customers are, and/or what their ideal services are. As a result, businesses say “yes” to all work that comes their way. Remember: When you are saying “yes” to one customer, you might be saying “no” to other opportunities.
ACTION: Define your ideal customer. Define your ideal services. Start accepting work that only fits your criteria. This will result in increased work satisfaction for you and your team.
Idea #2: Set time frames for responding
Your phone is ringing and emails flood your inbox. Too often, this volume is overwhelming and you can’t get back to customers. You have spent all this money on marketing and you can’t get back to prospects because you are simply too busy. Customers perceive that you don’t care because you don’t respond so they go elsewhere.
ACTION: Once you know who your ideal customer is, and which type of services you wish to provide, triage your incoming communication. Set performance standards of how quickly you respond to phone calls and emails to those ideal customers. By establishing standards such as phone calls returned on the same day and emails within 24 hours, you will distinguish your business from your competition.
Let’s talk about what ideas can be implemented in your business. Contact us at info@hallcpa.ca.