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Nifty ideas you can use to build a better
business
Outlast The Competition
When one of your competitors goes out of business, don’t celebrate. Instead, get busy capturing the competitor’s customers for your own small business. Approach the competitor and ask if you can have or buy his customer list. With that in hand, take action. Two ideas:
- Send a direct mail piece to the customers promoting your business. State upfront that the other company has folded. Then ask customers to give your products and services a try.
- Call the customers. Explain exactly how you got their names and numbers. Then offer your services and products to them.
Listen To Employees
Small-business owners should listen to – and act on – employee suggestions. A recent survey from Opinion Research found that roughly half of companies that request employee feedback fail to use the response to enact change within the company. “Implementing a survey to assess employee perception and using the information to make changes is vital to ensuring a highly engaged organization. An engaged employee tends to be more productive and contributes more to an organization’s success,” says Terry Reilly, director of the employee research practice at Opinion Research. “Our findings indicate a correlation between an organization’s responsive action to employee survey feedback and positive employee perception.”
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