Today I’m going to give you four points on how to do business better. If you master these four points, a lot of things will start falling into place. There are many things in business that feel natural and people figure them out quickly, but there are also areas that don’t come naturally, and we tend to stay stuck in them longer than we should.
This can be uncomfortable, because I might enjoy doing something a certain way, but if it doesn’t solve my client’s problem, they won’t use me. They’ll move on, or figure it out on their own. But when we become obsessed with what the customer needs within our niche, then we can truly solve their problems.
Let’s say you’re a mechanic. Now, I’m not a mechanic — I don’t know cars. For me, a car is just something that gets you from point A to point B safely and comfortably. But imagine you’re a do-it-yourself type, not a full mechanic. What if you figured out solutions your customers want, maybe by making videos showing them how to do small repairs?
This happened to me with a vehicle I bought. I drive a Ford truck, and there was a recall on part of the braking system — something computer-related. I called the dealership where I normally go, and they said, “We can come to you and do that.”
They solved my problem. Instead of me finding time in my schedule to drive to the dealership, sit, and wait for the update, they came to me. They realized customers all over the area needed these updates, so why not bring the service to them? It created convenience and strengthened loyalty toward their dealership.
Before they started the mobile service, they already had courtesy shuttles — you could drop your vehicle off and they’d take you back to work or home. That helped too, because I didn’t need two cars or hours of waiting. They constantly asked themselves, “How can we make this easier for our customers?” That’s why they win.
While the technician was at my house, he uploaded the update, fixed the issue, and then said, “Next time you need your oil changed, we’ll come to you.”
So ask yourself:
One universal thing clients want is to save time. Here in the U.S., we now have companies that shop for your groceries and deliver them. Many people hate grocery shopping and are willing to pay extra for convenience. It doesn’t fit everyone, but many people use these services.
So what are you doing that your clients need? And how can you adjust it to make it easier for them? The more people enjoy doing business with you, the more business they will do with you.
That’s number one.
A lot of people hesitate to raise their prices, but think about this:
Many undercharge out of fear and leave a huge amount of money on the table. Don’t be afraid to charge what you’re worth — just be ready to justify it, and don’t leave money on the table. There are plenty of people who need what you offer.
I remember when I worked in lending during a recession. Money was tight. My district manager walked in and said, “We’re not going to participate in this recession.” We all looked at him like, What?
When we took on that mindset, we did well. The same goes for your business. Someone out there wants what you offer and will pay for it. Make it convenient — point number one — and charge what you are worth.
One of my coaching clients owns a bookkeeping company. There’s a specific advertising method she uses — and every time she runs it, she gets three to five new clients. She’s a one-person operation, so she doesn’t advertise constantly; she only advertises when she loses a client. But because she knows the method works every time, she can repeat it as needed.
Do you know your best, most reliable way of obtaining a client?
Back to the story about my dealership: they know it costs money to get a customer. So once I’m their customer, they obsess over making my experience better so I’ll come back. If I were to buy another car, and if I wanted the type of vehicle they sell, I would return to them — not another Ford dealership. Why? Because of my experience. I also bring my vehicle to them for service, which makes them more money.
My daughter just bought a vehicle a few days before this recording — also a Ford. There was a rebate available if you owned a Toyota. My wife drives a Toyota, so the salesman found a way to apply that rebate to my daughter’s purchase. He worked to give us the maximum benefit because of our ongoing relationship.
What does it cost to get a new customer? And once you have one, how do you keep them? Keeping a customer is far cheaper than acquiring a new one.
A poor or mediocre hire on a small team drags everyone down. Great people love working with great people. Hiring someone new is expensive and time-consuming, especially compared to keeping a productive, experienced employee.
When I worked in finance, I had an employee who could sell anything to anyone. He was about twenty-one, from Mexico, spoke perfect English, and was an unbelievable salesperson. My boss’s boss once asked me who the best salesperson in the office was. I said “Freddy.” He said, “No, you are.”
I was limited by corporate guidelines in how much I could pay him, but what I could do was give him perks. If he needed to come in late — fine. If he wanted an extra-long lunch with his wife — no problem. I did whatever I could within the rules to keep him happy, because his production was extraordinary.
Now imagine Freddy is a “9” on a scale of 1–10. Why not a 10? Because sometimes he didn’t follow the book perfectly. But if Freddy is a 9, and another employee is a 3 — and the 3 irritates the 9 — get rid of the 3. They’re not producing, and they damage the environment for someone extremely valuable.
There are principles we can apply in the workplace. Put them together, and they’ll enhance your abilities and your success.
Thank you again for joining us for our podcast, Business, Money, and Christianity, a financial podcast from a faith perspective. Make sure to like, comment, subscribe — whatever your platform allows. We appreciate your participation, and I look forward to seeing you next week.
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