Is your business trashed in this economy?

Posted by Mountain Business Consultant

October 8, 2008

One of the biggest complaints I’ve heard locally is about how business is so bad.

This surprises me because many of the businesses I know are showing an increase over last year from 15% to 30%.

These are brick and mortar stores and not internet businesses which are growing and doing well.

What is the difference?

I took some time to take a look around and to chat with a few successful businesses.

For instance, one of my favorite hangouts looks like hell. The parking lot is full of potholes and weeds. Cigarette butts litter the walkway to the entrance…and the owner is seldom there. When she is, she isn’t exactly amiable or friendly to those who want to chat.

Also, the product is inconsistent and her price point is steep…and they just announced they will be closing. Not a big surprise to some of us.

Down the boulevard is another establishment. The place has some of the same eyesore problems. Poor parking lot maintenance and trash and boxes stacked up outside make it look trashy. However, the business is up and churning in profits.

Here the manager is focused on customer service and pays attention to customers needs and wants. If a customer has not been in for a while–he or she gets a call. And nothing ever seems to be a problem.

No wonder the customers keep coming back.

Another business in a great location is up 30% because they are under new ownership and let the manager do what she needs to do to make customers happy.

Personally, I quit shopping there under the previous owner because she was penny wise and pound foolish. It was great news to hear that they are doing great.

The two establishments that are doing well each track their profits and their inventory. They know when a customer is going to need something and if they don’t have the product, they usually have it within 24 hours and at least one will drop off the merchandise to the customer’s home if they desire.

I know other businesses that do well simply because they really service their regular customers. About 80% of all business seems to come from 20% of their customers.

If you want to attract and keep customers present a good front–a clean and tidy store and a smiling staff member and personal service can go a long way to establishing a regular customer base.

Don’t forget to find ways to provide extra service to your customers and find out what they might like and offer to meet their needs with new products and services…it could make all the difference on your bottom line.