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Add You - Small Business Secret #2 - Build Your Business Knowing How You Will Exit the Business
When it comes to phone sales, difficult customers are part of life. Sometimes they can be turned around, sometimes they cannot. But, there is a higher probability of selling to them if you can relate to them, and figure out where they're coming from, without being intimidated or frustrated. Here are some ways I try to dispel their venom, all the while building grounds for a sale.Keep an even tone to your voice and show no negative emotion. Be calm, and have an easy manner. By doing this, you are maintaining control of the call. If the customer rants, stop talking and let them spew their anger. When they're done, acknowledge what they have said, and then continue on with the negotiation or sales p
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business
In a separate article, I bashed surveys for a number of reasons.To recap briefly, they’re unreliable, slow, unrepresentative of customer sentiments at large, and there are more direct ways of tapping into customer satisfaction.One of the best ways of doing this is by asking a customer how things are going DURING the transaction, itself.One of my law professors, who helped Subway to expand across country, said you have no business owning a restaurant if you’re too shy or lazy to walk up to customers and ask, “How’s your meal?”It’s absolutely essential, he said, if you want to control quality, get valuable feedback right away, and show that you care about customer service.<
Let me be really honest with you, if you build your business correctly and make it successful, you can make millions, but you can cost yourself money in not knowing how you will dispose of it and building it in away in which selling is not easy.
Now, I hear it now, but are not all businesses built the same way?
Well in fact no and if you structure your business in the wrong way, it can affect your ability to offload your business.
So what are the ways business owners can exit their business?
Let me list them straight off -
1. Sell to another small business owner
2. Sell off Franchises and Areas to Master Franchisors
3. Sell your business to an Equity Group
4. Sell Shares in your company to other people
5. Publicly List Your Company Shares
The first secret to building a Successful Small Business is to know how your business will look when you are finished. Now based on what your vision of your business is will depend on which of the 5 options you will take.
For example, my team and I are developing a new business that we have decided in three years will be publicly listed. The way in which we are designing this business is very different to how we are growing and building our other businesses. For example, our car cleaning business has been designed specifically to be franchised which has meant we have essentially built each area as its own small business that is profitable for a single operator and will bring them in a good weekly wage and small profit on their investment.
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business
Debt collection from patients is a conflict doctors often prefer avoiding for fear of potential implications to practice reputation and increased exposure to malpractice lawsuits. Healthcare debt collections require unique combination of sensitivity, skill, and discipline. Understanding of debt collections process and outsourcing opportunities help the practice owner improve revenue cycle while minimizing practice risks.The best way to improve the patient payment component of the revenue cycle is to collect cash payment in advance for healthcare services. However, without solid processes and disciplined implementation, upfront cash collection can challenge and frustrate front office staff, o
Let me be really honest with you, if you build your business correctly and make it successful, you can make millions, but you can cost yourself money in not knowing how you will dispose of it and building it in away in which selling is not easy.
Now, I hear it now, but are not all businesses built the same way?
Well in fact no and if you structure your business in the wrong way, it can affect your ability to offload your business.
So what are the ways business owners can exit their business?
Let me list them straight off -
1. Sell to another small business owner
2. Sell off Franchises and Areas to Master Franchisors
3. Sell your business to an Equity Group
4. Sell Shares in your company to other people
5. Publicly List Your Company Shares
The first secret to building a Successful Small Business is to know how your business will look when you are finished. Now based on what your vision of your business is will depend on which of the 5 options you will take.
For example, my team and I are developing a new business that we have decided in three years will be publicly listed. The way in which we are designing this business is very different to how we are growing and building our other businesses. For example, our car cleaning business has been designed specifically to be franchised which has meant we have essentially built each area as its own small business that is profitable for a single operator and will bring them in a good weekly wage and small profit on their investment.
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business
Do you own a business and need ideas on how to market your products or services to your customers? Well, the one thing that every business owner needs to know is that in order to survive, you need customers willing to spend their hard earned money for your products or services. The only way to drive customers to your business is to market yourself and your business in a way that customers believe in you and willing to spend money. There are defiantly many ideas about marketing, but I have listed 7 great ways to help you get started. These are all intended to help drive up sales and therefore help make your business successful.1. Persuade your customers to like you. People buy from people they lik
Let me list them straight off -
1. Sell to another small business owner
2. Sell off Franchises and Areas to Master Franchisors
3. Sell your business to an Equity Group
4. Sell Shares in your company to other people
5. Publicly List Your Company Shares
The first secret to building a Successful Small Business is to know how your business will look when you are finished. Now based on what your vision of your business is will depend on which of the 5 options you will take.
For example, my team and I are developing a new business that we have decided in three years will be publicly listed. The way in which we are designing this business is very different to how we are growing and building our other businesses. For example, our car cleaning business has been designed specifically to be franchised which has meant we have essentially built each area as its own small business that is profitable for a single operator and will bring them in a good weekly wage and small profit on their investment.
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business
Do you want to advertise your business without having to invest a fortune to do so? If you think this is not possible, you are wrong. A press release does exactly that. You can jumpstart your business with a press release. For this, you have to learn the basic tricks of writing a press release that is effective in launching your business on the fast track.About a century ago, when the press release came into being as a news-story tool for the first time, nobody thought that the same tool could also serve the purpose of an ad. You may now write a brief but riveting story about your business with all its main features, some of which may be unique or novel, and send it in an established format to th
For example, my team and I are developing a new business that we have decided in three years will be publicly listed. The way in which we are designing this business is very different to how we are growing and building our other businesses. For example, our car cleaning business has been designed specifically to be franchised which has meant we have essentially built each area as its own small business that is profitable for a single operator and will bring them in a good weekly wage and small profit on their investment.
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business
When I worked in the food service industry some years ago, I got a first hand look at customer service and profits. Not to toot my own horn – but there I successfully handled a customer complaint and referred the customer to one of my bosses for continued service. Later I discovered the lady called back (after dealing with my boss) and complained about how he handled it, then congratulated me!I was stunned! Partly because my superior showed a lower level of service than his humble peon, mostly because she said she'd never come back into the restaurant. And she never did.So what is customer service? The successful management of customer orders, questions, and complaints pretty much sums up
In designing our publicly listed company we have to treat it in a different way so that it is designed to meet the needs of serious investors like institutional buyers. Now by know way am I saying I am an expert in this area but some companies are more suited for public listing than others.
For example if you are building your company for a listing on any of the worlds stock exchanges, investors are looking at three core areas -
1. Good Solid Business Growth (double digit growth)
2. Solid growing profits (double digit profit growth)
3. High Potential for Share Value Growth
If your business does not have those elements then you could be punished in a big way on the stock market with a low share price and in many cases you can loose more money than you make. A few years ago I bought into a small diamond mining company because of this one reason. The share price of the company had been savaged by the bigger players and in those players driving the share price to on 1 cents a share, simply because its potential for high share value growth and profit return per share was simply not there. What happened in the end was that the Publicly Listed Company was bought out by an equity group and was changed to a privately owned company. I actually bought the shares for less than 1 cent a share and the cool part for me was that I made a couple of 100% profit on those shares, but those people who invested when the company was publicly listed lost a large amount of their investment. This really drove home to me that you need to be careful about what you do when you want to get out of the business. In this case, publicly listing the private company cost the owners and shareholders more, than if they had of stayed private.
In the end the company which had an initial listing of 10 million dollars sold for a couple of million dollars. The original shareholders lost an investment of over 8 million dollars. The owners would have been better off keeping the company private and selling it to another mining company or a publicly list company. The reason I know this to be true is because the private equity group did that just 18 months later and I know they doubled their money.
On the other end of the scale, do not just sell your business to anyone. When you build a small business, one of the things that will happen is that you will build a very close relationship with your clients and many of them will become friends. Make sure that when you decide to exit the
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