Business

by Taylor Hamilton Taylor Hamilton No Comments

Customer Service Skills that Every Salesperson Must Have

There are a variety of customer service skills that every salesperson must possess if they are looking forward to meet with clients. Failure to have employees with the best customer service skills may cause your business to lose crucial customers. Luckily for business owners, to avoid such an occurrence, there are universal customer service skills that any employee can master that can help in winning new customers as well as in their retention.
Although most people fail to acknowledge, Patience as an integral customer service skill, it plays a significant role in winning and retaining customers. When confused and frustrated clients reach out to support for help, they usually feel appreciated when they are handled by a staff who is patient and understanding to them. An impatient employee will not only make the customer feel bad about it but will also push them away.

Attentiveness is another customer service skill that is essential to providing excellent service to them. You need to be patient as you listen attentively to what they say without interrupting or missing the point. A customer needs a person that understands them and grasps everything of what they are putting across. Additionally, you need to be attentive to the feedback that you receive so that you can be able to answer to a particular call correctly.
Communication skills and convincing ability should be on-point. You will need to find an employee that can convince the customer that they are the best at what they do and that your services are the best in the market. Additionally, they should communicate properly and respectfully to the clients without being rude.

However, an excellent communicator does not confuse being assertive to rudeness. Finally, excellent customer service entails having knowledge of the product, ability to read the mind of the customers, persuasion skills and ability to handle shock. As such, it is important that a business owner hires employees and also acquires the skills that are vital in provision of excellent services to clients.

by Taylor Hamilton Taylor Hamilton No Comments

Factors that Determine the Rate of Growth of an Economy

An increase in the amount of goods and services that a particular economy can produce in a given time is what is referred to as economic growth. Policy makers across the globe believe that economic growth is good, whether it comes about due to increase in consumer spending or through exportation of products. However, it should be noted that, unchecked or unstable economic growth will always come at a cost to the citizens of that nation. For example, increase in inequality in income distribution might result to political turmoil which could hamper the growth of the economy after some time. As such, policy makers and the experts of economic matters are tasked with a duty to ensure that there is health growth that may result from a variety of reasons.

First, increases in productivity will result to growth of the economy. For example, an increase in output will translate to increased revenue or gross domestic product to a country. On the other hand, economists will measure input levels with the amount of capital invested or the workforce. As such, the economy is said to be growing when the output of the country will be exceeding its input. For example, great wealth creation is associated with high productivity.

Population growth is also associated with the growth of an economy. As the population increases, so does the economy grow. Such an assumption is attributed to the fact that people produce and consume using the wages that they earned after working. Additionally, as the population grows, the demand for goods and services also goes high which consequently results to a rise in the national productive rate.
Finally, education level and health status of a nation will determine how the economy will change. It is clear that people that are well-educated with good health will contribute greatly to productivity that will result to high economic growth rate.

by Taylor Hamilton Taylor Hamilton No Comments

Marketing Challenges for a Small Business and How to Overcome Them

When it comes to marketing, a new entrant in the market will face a variety of challenges which may result in the eventual fall of the business. It is, therefore, important that before one opens a new business they understand the probable marketing challenges and device methods of overcoming them. Additionally, you can try to have a team of experts or a close friend who is competent in marketing as well as keep-up with the current technology changes which will be an asset during the cut-throat competition that is there for the available market.

First, you will need to focus on the way that you feel and the most appropriate way to market your business. For example, you may build your own network of clients and business partners through social media which has become a major marketing platform for both the small and large businesses. There are others such as online advertising, SEOs, mobile and online marketing and so on that might work for your business.

Make sure you differentiate yourself from all the other players in the industry. You can do that through having unique brands, excellent customer service and selling quality product to your clients. As such, you will not only be winning new customers but you will be able to retain those that are already in the system. Remember, loyal customers are the most important part of a business because they ensure that it keeps running even when it is difficult to get new ones.

You will need to allocate yourself time to do outreach so that your business can get the attention of the potential clients. As such, you will need to invest in marketing by allocating resources such as employees and income towards this venture. Otherwise, you might have an excellent business, with quality products but without any customers.

by Taylor Hamilton Taylor Hamilton No Comments

Challenges Experienced by New Business Owners

A lot of entrepreneurs feel that starting a business is a significant accomplishment. Additionally, they also agree that maintaining a new business is even more challenging than an already existing one. Every business, be it small or large, will face several similar standard challenges. For example, recruitment, creating a good image and so on, will be some of the common challenges that all businesses experience. However, there are a variety of unique challenges that only apply to new business which could determine whether it will succeed or fail; they include:
A new business will tend to depend on a particular client for survival before it can grow and manage to diversify the client base. As such, for a business that depends on a particular customer for survival, we can simply say that it is more of an independent contractor, as opposed to being business ownership. Additionally, you might find that the clients that need products on crediting are flocking to your shop, which is a further risk to your business.
Money management is another challenge that a new entrepreneur will experience since there are cash-flows that might be draining others before they can stand. A business man can avoid this challenge by seeking funds elsewhere or having a huge customer base to help in such instances.

There is also the challenge of long working hours which may cause wearing out of a passionate entrepreneur. The desire to achieve may cause the business owner to overwork resulting to fatigue that may consequently lead them to making rash decisions such as quitting when they need to make critical choices.

A new business faces the challenges of bankruptcy or stalling if the owner is sick or dies. As such, the entrepreneur is the sole manager of the business and thus he affects the operation of it depending on the situation. For example, if he is hit by a car, the business may stop to go on. The bottom-line is that a new entrepreneur should be aware of the challenges that the business might experience and prepare to face them accordingly.

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