Author: Charles Odoh

Hey ladies, still on the importance of growing your business through networking, in this post is one major way to utilize the meeting of another entrepreneur, business owner or even prospect.

After a few conversations, you may be able to bring up the issues you are facing. If they open up discussions first, you might be able to begin exchanging information, seeking knowledge, or exchanging business contacts.

Most business people are optimistic and positive. Regular association with people like this can be a great morale boost, particularly in the difficult early phases of a new business. You’ll find that many, if not all, business owners have experienced similar trials of ownership.

Remember to note that you should not only attend the meetings of your networking group regularly but go prepared to offer something of value to the group. Choose the networking medium or channel that’s best for you.

We remain your #numberone#businesssupport community.

A unique selling proposition (USP), or a unique selling position, is a statement that clearly/effectively outlines how your business, product, or service is different from that of your competition. It identifies what makes your business the better choice, and why your target clients should choose you over your competitor.

Your USP can be an effective tool that helps you focus your marketing goals and verifies that every piece of marketing collateral you create successfully sets you apart from the competition. Your USP can also be an important part of your branding that makes your business memorable.

Have you identified your unique selling position? This week, stay tuned as we address & redefine our sales processes using effective unique selling points.

Do have a great week.

We remain your #numberone#businesssupport community.

Hey ladies, welcome to a great new week.

As we go all out to sell , especially considering the time of the year, it is important to be reminded of a key part of our business success ;– customer satisfaction.

Customer engagement has at times turned into a form of war game with many small businesses. Not in the sense that you and your customer attempt to browbeat or trick each other into ceding territories, but more like a psychological-based war wherein you imagine what it feels like wearing your customer’s shoes when making important decisions. Unlike a real battle, the relationship between business owners and their customers are based in the assumption that transactions between them are mutually beneficial.

In this post, we have identified seven steps to make customer engagement a win-win for both you and your clients , while we will go into details of each point throughout the week.

1. Do Your Research. Spend extra time researching about your client, probing their lifestyle, identifying their needs and managing their expectations.

2. Sound the Bugle. Show your client that you know their business and care about their goals by drawing up a roadmap that will help them succeed in the particular aspect of their business you want to be involved in.

Stay with us for the rest of the week as we take up the other points.

Keep winning!

Discuss Tactics

Hey ladies, good morning.

From our end , we hope your week has started off as planned.

Still on ensuring we get our customers on our side this season, we will consider point 3 in our previous post for customer engagement.

Point 3: Discuss Tactics

Help clients understand how your strategy (i.e. process, work parameters, etc.) will help them achieve their goals. Use action language in your correspondences and documents, while exuding an aura of confidence that assures your clients that you know your craft well.

Remember we remain your #numberone#businesssupport community and it is always great to hear your from you.

Keep winning!

Bookkeeping in a business firm is the basis of the firm’s accounting system. Bookkeepers are responsible for recording and classifying the accounting transactions of the business firm and techniques involving recording these transactions.

As a small business owner, you either have to set up your own accounting system or you have to hire someone to set it up for you. As a self-employed or one-person business, you will do it yourself.

If you are hiring staff and anticipate a lot of growth, you may hire a controller to handle your financial management and accounting.

If your business is going to grow but you anticipate slow growth, you may simply hire an accountant or bookkeeper to handle the accounting system.

The accountant, bookkeeper and controller all have different roles. In all of it, proper bookkeeping is very important for your business growth..

Remember, we remain your #numberone#businesssupport community.

Hey ladies … Happy Friday.

This week has been a great one , indeed November may just be that magical month and so we must do all it takes to make the most of it.

We will be wrapping up on our customer relationship discussion via emphasis on the points below(you can see other points in previous post):

*Determine Your Rules of Engagement: Put in place rules for how high and low you’re willing to go when it comes to closing contracts with your clients. Don’t over-sell yourself, but don’t undervalue what you’re doing for each client.

*Know Your Buyers Types:
Understand that there are three kinds of buyers, each requiring a different approach that taps into their respective priorities. Leo classifies clients into:

Spendthrifts (15% of customers): Understandably, these are the most preferred clients by every business owner and freelancer. Keep them engaged and regularly updated on the progress of the project you are handling as well as the value you help generate. Offer them all the appropriate premium services you can deliver.

Tightwads (25%): Because this group prioritizes budget, be sure to offer clever service bundles and to reframe your prizes to make rates more acceptable to them.

Average Spenders (60%): These customers occupy the middle ground and will likely comprise a large part of your portfolio. Keep them motivated by using language that emphasizes results and success. 

*Move at Doable Time: Establish a sense of urgency when setting milestones, deadlines and other time-frames. This includes the period of time (usually one to two weeks) you’re giving clients within which to respond to a proposal.

Fight for Something Good: Differentiate your brand by showing that you care about something greater than yourself. Maybe an idea, an advocacy or an organization you truly care about. This works like magic when you and your client share the same values or advocacies. In addition to work, you can also cite charities and community service projects.

Keep winning.

Hey ladies, it is time to start balancing our accounts and we should consider debt collection.

Collection starts when you send the invoice, which should have a due date for payment. When that date passes, it’s time to start thinking about following up with a collection letter. Don’t wait too long.

It is better to send a reminder notice sooner rather than later. Remember, this is money owed to you. The longer you put off collecting it, the more strain it can put on your business.

If you’re not sure what to write, you can use the sample below. Remember these letters are to be short, precise and end with a thank you.

January 8, 2020

Linked Group
123 Lekki Road
Anywhere, Nigeria

Account# or Invoice #:123
Balance due or Past Due Balance:
100,000 Naira

Dear Kola,

This is a reminder that your account balance of One hundred thousand Naira was overdue as of November 28, 2010.

Please pay this amount today, I have enclosed a stamped payment envelope for your convenience.

Thank you for your payment.

Sincerely,

Shade Smith
Linked Group

Was this helpful?
We remain your #numberone support community.

Hi ladies, we love to see your business bloom & so we will share some more tips on how to handle debt collection for your small business.

As a small business owner, the temptation is great to have the salespeople handle their own accounts receivables, but it’s much better to assign one person to the task of debt collection. Designate your debt collection lead and provide proper support, training, and incentive to do the job right.

Also endeavour to have the sales person handling debt collection send invoice emails for your business through a specified email address… E.g account@aytfarms.ng or aytfarmsaccount@gmail.com.

This way, you can actually process all invoices separately.

Have a great Wednesday & remember you can reach out if you have any questions.

Keep winning !!!

For the first year of successfully running a business, most business owners are focused on survival.

However, as mentioned in our post yesterday, prioritizing the growth of your business via expansion is one of the best ways to increase the chances that your company will not only last but also contribute to your economic well-being and a stable financial future.

We will thus be treating 9 ways to successfully expand your small business to a big one through out the next 9 days. For day one, we will be talking Recapturing Your Existing Customer as one of the major ways to business expansion.

It is important to note that getting new customers is not the only way to grow your business. Many times, the customers you already have are your best bet for increasing your sales, and studies have found that improving customer retention also improves the value of a business/company.

Customers who have already purchased from you once are more likely to do so again, especially if they have a positive customer service experience. All you need to do is capture the contact information and shopping preferences of one-time customers. Then, use that information to set up marketing systems that we previously discussed in the past. This will convert them into repeat customers.

Today, ask yourself if you are getting it right with customer retention, if not work out ways to do this. We are happy to support you with this.

We remain your #numberone#businesssupport community.

Keep winning.

Hey ladies, happy new week.

The owner of “A smooth skincare” knows a lot about skincare. But she also knows a lot about business growth strategies. Each time a new product is developed, she uses her automated messaging system to call all of her regular customers, letting them know that it’s time to get some new glow oil- an example of a business growth strategy that any business can use.

This week, as we draw to the peak period in purchase by customers, we will share with you some tips to boost your sales strategy.

First on the list is selling to existing customers:
Increasing sales in an existing market is one of the easiest business growth strategies. You already have a head start with this growth strategy as once your business is established, it has regular customers, and, like most businesses, you’ve probably collected various kinds of information about them. The key to successfully increasing your sales in an existing market is to know your customers buying strength, both generally and individually.

The goal, of course, is to make your existing customers buy more. The data about what your customers buy, when and how often will help you make savvy decisions about stocking and marketing. You therefore need to actively collect data of all your business transactions between clients. This way , you will know which product , discounts , combination to put in the front of each existing customer.

Do you have a list of your customers? You can get started this morning..

Keep winning..