Thoughts on Law and Life

The Official Blog of Astrab Legal Services LLC

Add Value Everyday

When I first started this blog I intended to simply write on legal issues. Taking into consideration today’s environment, however, it has morphed more into a forum on building and maintaining your business. Small business owners face huge challenges, not only from corporate competition, but also from lack of consumer liquidity, overdue accounts payable and rising costs all around. I want to offer tips and open discussions on ideas to help small business owners move forward in this economy. In addition, my firm is putting together a small business consulting practice to provide essentially a team of experts to act as a guide to business owners in all areas, including but not limited to business planning, marketing, taxes, cash management and, of course legal issues. If you want a consultation, please contact me at (216) 577-0013.

Today’s topic is on adding Value. This applies to both existing and prospective customers/clients. It is uber-critical to keep our existing customers and the best way to do that is to go overboard with customer service and attention. If you normally take a week to get a job done, do it in half the time if possible. Return phone calls immediately. Start an e-newsletter and e-mail campaign on topics not only related to your business but also to big current event issues of the day. The goal is to keep the customers engaged and maintain ‘top-of-mind’ awareness of your company amongst those customers. This will not only maintain your current base, but hopefully will grow referral opportunities.

As to prospective customers, keep pushing and make every effort to bring them on board. Always be moving, within reason, towards the sale. Offer them a door into your business by including them on your customer mailings or set up a breakfast/lunch meeting if you feel that it might help close the business. Always return their phone calls as soon as humanly possible. Understand that you are not the only business looking to bring them on board and seek avenues to place yourself above the competition.

There are many, many ways to add value to your customer/client relationships, and the methods vary from industry to industry. The bottom line is that you need paying customers in order to stay in business, so start thinking outside of the box to keep and obtain those customers.

Michael K. Astrab is the principal attorney for Astrab Legal Services LLC, a general practice law firm located in Cleveland, Ohio. He may be reached at (216) 577-0013 or via e-mail at astrablegal@sbcglobal.net. This blog is designed for informational purposes only and does not constitute legal advice.

Advertisements

February 4, 2009 - Posted by | Financial, Law, Legal, Life, sales & marketing, small business | , , , , , , , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: