Question by Verizon Small Business Center: How can I grow and improve my small business?
Running a small business can be a challenging task, especially in today’s economic environment. What are some ways you have grown or improved your business?
Best answer:
Answer by Daniel
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I switched my service from Verizon to cable and saved money.
One of the good ways is to improve the character of the seller. Improved meaning not to change, but to make a small fix or add a better character in being more motivated in selling especially in today’s crisis. Some of the ways I know of the top are:
Branding: Establish market position, increase awareness, generate popularity
Targeting ideal clients: Reduce cost of sale and shorten sales cycle
Forecasting or analyze: Increase potential to meet realistic goals
Customer Relationship : Increase sales and the value of client relationships
Customer retention: Reduce cost of sale, increase referrals and satisfaction
Competitive analysis: Position business to identify best market opportunities
Always have a back-up plan when deciding to go into business. As of today’s tough corporation such as GM had to file bankruptcy. It doesn’t hurt to have a savings or an account that happens to save your business from losing any profit. In other words, make sure you know when to ring that “fire-alarm.”
-Lance
OFFER SALES ON YOUR PHONES AND ACTIVATION I USE ALLTEL AND THATS WHEN I BUY OR UPGRADE WHEN THEY GIVE ME GREAT DEALS EVEN WITH ACCESSORIES WHEN THEY OFFER ME A DEAL OR SALE OR SPECIALS THATS WHEN I DO THE MOST BUSSINESS
Hand out fliers.
Make up beautiful banners of your business and spread it in your locality and then look up at the location of your place and arrange all your things in a well maintained manner..Definitely more people would start coming…..
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I have tried to help people both professionally (financially) and offered countless hours (1000′s of answers) on Y!A during the 2nd biggest financial crisis since the Great Depression.
I also have given more to my church. I think giving back and helping 1000′s of people; especially in time of need will put good kudos out there for ya.
I knew people would have many questions about financial matters over the last 2 years. I knew I could not reach out and help everyone in person, so I moved to address questions on Y!A.
I felt a little guilty for racking up huge gains for clients and making a few bucks for myself for correct calls for shorting the financial, mortgage, banking, brokerage, etc., industry since 2007.
“What’s the most you’ve gained and lost on the Stock Market?”
http://answers.yahoo.com/question/index;_ylt=AqUOSBZisagRv865ZiGwa5Xsy6IX;_ylv=3?qid=20090426195654AAJItsa
I don’t say this to impress anyone. Just got lucky maybe (and a couple decades of professional trading experience). Saw this like a neon light. I tried to pass on what I saw so that other people could profit or protect what they have from potential losses in the markets since 2007.
I wish I had known about Hedge Fund King Paulson who shorted the Sub-prime Index. I didn’t even know there was a sub-prime index to short or I would have been all over that too.
“Trader Made Billions on (shorting) Subprime ”
http://online.wsj.com/public/article/SB120036645057290423.html
No matter what one’s experience is one can’t know everything. We’ll, maybe Paulson does.
How I saw it. Posted 2 years ago (2007):
“Why would easing interest rates by the Fed help housing? Why it’s in trouble in the first place isn’t it?”
Scroll down and see my answer:
I cited (2007):
“Companies currently in financial trouble in my opinion in this order:
1. Countrywide (CFC)
2. Merrill Lynch (MER)
3. Washington Mutual (WM)
4. Citigroup (C)
5. Bear Stearns (BSC)
And all the mortgage insurers (PMI, MTG, MBI, ABK), and other mortgage companies holding alt-A and subprime and adjustable mortgages where borrows had debt-equity of 50/50 or worse, and have adjustable loans over the last 3 years.”
I also posted around Nov 2007 (if I recall correctly) some 29 problem companies, and where I state that: (scroll down to read my post):
“…The market is going through a HISTORIC “shake out.”
http://answers.yahoo.com/question/index;_ylt=ArcdwJtUtdtpAq7NtZWYROjty6IX;_ylv=3?qid=20071120072724AABavPd&show=7#profile-info-vQp08k6kaa
I also wrote a letter to the major banks in summer 2007 warning them what I thought was about to unfold. I even offered to help them. (Oh, in case anyone was wondering, no bank responded to the offer. So I told people to short their stocks.)
This letter incident and the lack of response reminded me of a scene in Oliver Stone’s, Wall Street (1987):
“What the hell is Cromwell doin’ givin’ a lecture tour when he’s losing 60 million a quarter? Guess he’s giving lectures on how to lose money. ….if this guy owned a funeral parlor, no one would die!”
http://en.wikiquote.org/wiki/Wall_Street
(full quote is 7 points down from link above)
A Classic Movie – based on a true story.
http://www.imdb.com/title/tt0094291/
I saw this coming back in spring 2004 upon when the FED began raising interest rates.
Fed Funds Rate went up 425% (2004-2006). And no one else thought this was going to impact adjustable rate mortgages?
Posted 1 year ago:
http://answers.yahoo.com/question/index?qid=20080117094346AAn1bHw&r=w&show_comments=true&pa=FZB6NWHjDG3N56z6v_2wWvqURuxrBZYB2LCUQEf76ouIrvaeP12BEg–&paid=add_comment#openions
So paying attention to what is going on in my business, knowing what can impact a business, and other people’s business can give one a competitive advantage.
—- Also a VZ customer for over 10 years. I like the new TV phones. Just upgraded.
I listen to CNBC when I have to be away from the trading desk. VZ TV phone helps me keep close to what is going on in the markets.
Have refereed other customers to VZ.
The economy can be good or bad. There are ALWAYS opportunities to make money. Right now might be a good time to start a bank.
<05.11.2009>
edit:
Not sure about the thmbs dn. Is it b/c
(a) some people prefer not to hear the truth.
(b) some people don’t want help on Y!A.
(c) some people are generally pi-ssy or
(d) some people just dislike any recognition toward corporate questions.
Well I figured put that my last cellphone (**CoughVerizonSamsungAliasCough**) was randomly rebooting while talking to “buisiness clients” and also dropping calls. So what I did was switch to another carrier and bought a new cellphone (**CoughAT&TtiltCough**) that had way more features and now my cellphone doesnt give me random network errors or give me memory errors when trying to read my Yahoo! emails from “Buisiness Clients” on the WAP site!!!
just move on if you think that the place you are right know isn’t good move to other place until you find the right place
I think it can be done by identifying areas where you need immediate attention and thinking economic viable solutions. Of course, you can outsource some backoffice work and invest your money to other critical things.
Honesty.
Do not have a bunch of confusing statements or fine print. If you say something, then that is what you should do.
For instance “For only ten dollars a month you can have a phone added to your package for another person.”
Then when people get the bill it has all these other added things attached to that phone like line end user fees or mileage or blah blah blah.
If you say ten then make it ten! If it is going to end up more $ , then SAY what it is!
Advertisement on local weekly/monthly magazines, special promotions, and for our business, and words-of-mouth (because of our high customer service reputations) are examples for our business success.
That I’m not sure but all I know is reliance of advertisement or in some cases spreading the word.
the best services your company provide to your customer is the best advertisement itself….
so…in order to improve your business, proveide the very best services to your customer, as this will become a very good advertisement…
Give a free month with renewal. Free phones work great. What will help word of mouth, how about networking with schools and hospitals in your town and giving their employees a discount….
ask for a federal bailout. Find a nice tax shelter in the Caymen Islands.
hard work, perseverance and good interpersonal relationship
Water it everyday.
Cheers
-Will
Great Questions at this time
Small Business is the future of Business Model
because today , cheap technology and everything online.
Giant corporate have many trouble and …..
What some ways to grown
Easy answer but hard to do
you can not build new industry but can make…
difference and useful
i switched to at&t from verizon and saved up for some advertisement in front of my store
I have taken advantage of the trend to outsource. I run a small printing press with two machines in Bangladesh. I now print for clients in Pakistan, Japan and the US. I am looking for more. This has helped me stave off the economic recession which has hit us hard too.
1.Be certain that you charge enough for you services/products, but not too much.
2. Be courteous to your customers always. Remember, “the customer is always right”.
3. Be sure your advertising is good in quality and gets to the right audience.
4. Always do what you say you will do. Too many people in business do not meet deadlines or return phone calls.
5. Be sure that you can afford your overhead.
6.Take your lunch to work.
7.Take part in some community service, such as the Lions Club, to associate with other businessmen . Listen and learn.
8.Be willing to think outside the box. Some of the most successful businessmen have been able to adapt their services and products when they see the opportunity.
9. Let people see you smile. A good humor often sells better than a good price.
10. Stand behind your warranties and contracts.
http://www.youtube.com/watch?v=NoehYq4wY-s&feature=channel_page
also find a mentor
Improve marketing. What initially differentiates your business from your competition is initial customer perception.
Here are some ways of improvement
You have mentioned yours is a wireless company,a technology based business.Thus,you ought to grow it to earn higher profits
1.Add some value to your product
2.Borrow money from a bank to expand your business(but not that much since it can lead to insolvency)Make sure hen you borrow you have planned how you will pay it back
3.Offer promotions to increase sales or advertise.You would have probably more rivals then others.Try to focus on quality not quantity.This is the main benefit of a small firm.If you keep on personally satisfying your customers,your business will gain brand image.
5.Keep a check on your competitors,a slight one just to make sure if you arent missing anything.Otherwise focus more and more on your business.
4.Grow internally first,check if your employees are happy with the current working conditions.
5.Try to cut costs and increase profits.
Running a small business isn’t that complicated.Besides it can help you in the current economic crisis.You must be enjoying co-ordination,independence,Quick decision making and satisfied consumers(idk abut tht) if you are a typical small firm.Large firms won’t be enjoying these benefits as they are BIG
and also owing to the economic crisis so you have an advantage here.
firstly don’t think your business is small, try to concentrate more on work and give best to customer and try to keep them happy, don’t ignore thing try to sort out each and everything.
always remember :Watch the little things; a small leak will sink a great ship”
advertise your work no matter how small it is, you could use cards,
listen to your customers they are ur great asset.what is there preference,
treat ur costumers well, they could come back simply because of that.
do ur research well, know what is in the market.
lastly never give up, always hang and don’t focus on ur weakness but on ur strength.
What do you have to offer that is better than your competition? unless you can save me money, or my friends tell me that they have amazing service with verizon, i’m not switching.
I have and in am mortgage and realestate, marketing is m MO. Yes pull the financial areas of age catagores you are missing, now it seems to be teens are better off then some adu;ts amd this includes college, what people like about metro and keep in mind i worked for t mobile is the no contract….credit or no credit. advertisement yes, but they have grown use to you like geico, great coverege but afraid of the hidden fees and cost that they have been tramatized with by other companies, how bout free trial offers, metro started with qaulity not quantity, i know the two guys who started it. very interesting story.
people are going to great lenghts to protect themselves, in brow county alone there avereges over 2200 foreclosures alone, the phone is the last thing on their mind, so metro would be the best option because at the same time they want to save their credit, do you blame them? i have more but you have to talk to me.
built a small army of friends.
Faceless advertising makes business impersonal.
having knowledge of the necessary tools to make things for advertising is important too (computers, general language skills).
so really the only things that you need are being friendly, talented and smart.
If you work online dropping links in appropiate places works well. Spamming just gets you blacklisted and is counterproductive. Advertise with other businesses in your niche and you’ll get a better response.
I’m just going to shameless plug myself in this post, since it’s business related and all….
you must concern to one sector. it’s not efficient if you have more than one sector of business.
I suggest fraud – about several billion dollars will do (This could be done by overestimating the value of your assets). Then change your name a few times until you get to Verizon.
Possible name suggestions:-
Worldcom
MCI Worldcom
MCI
Verizon
Hey verizon Come to new zealand… Give me some internet… im inisent 13 year old internets crap here
sell sell SELL !!!….and avoid tornadoes
I talk to my customers in simple English.
I don’t promise what I can’t deliver.
I enter to them thru the door and not the window.
I don’t ask stupid question otherwise I will get stupid answers.
Digest these simple rules and success will follow.
Good luck mate
Business automation and using the Internet to communicate with clients.
Tell you wat myfriend running a business requires a lot of expertise, and patience. You need to set realistic objectives and ensure your controls are closely monitored.
One of the good ways is to improve the character of the seller. Improved meaning not to change, but to make a small fix or add a better character in being more motivated in selling especially in today’s crisis. Some of the ways I know of the top are:
Branding: Establish market position, increase awareness, generate popularity
Targeting ideal clients: Reduce cost of sale and shorten sales cycle
Forecasting or analyze: Increase potential to meet realistic goals
Customer Relationship : Increase sales and the value of client relationships
Customer retention: Reduce cost of sale, increase referrals and satisfaction
Competitive analysis: Position business to identify best market opportunities
Always have a back-up plan when deciding to go into business. As of today’s tough corporation such as GM had to file bankruptcy. It doesn’t hurt to have a savings or an account that happens to save your business from losing any profit. In other words, make sure you know when to ring that “fire-alarm
my dear friend business are small medium or big by their result. In the business result should be always bigger. economic environment was always same because market always grows so the no. of players.plan your business properly and execute it.
Hard work. Determination and being the one, not beyond Yahweh of course, for yourself and your relationship with the devine is the key.
No one will tell you what to do. But you and Yahweh. So make the most of it.
Love what you do.
Take business courses and network.
Join a club to bring you up on new ways of making it big and love yourself all the way. It’s your day and your life.
hello sir/ madam,
first have a clear concept of your business?
customers Group, your product category your local factors and competitors in your area.
later you can plan some promotional offers to popularize your business
Is any sector of Verizon really a small business?
Anyway, we are doing a rebate special, rather than dollars of percentage off. This is a service business. Once the customer’s service is complete, we write them a check for 10% back. It seems like people always find a way to live with our (reasonable) prices. But, to hand them a check as they leave… they are loving it! No rebates, no mailings, no gimmicks, nothing. Just go to the local bank that is two miles from our business and turn that check into cash.
trust, honesty, innovative, round the clock service
Don’t just offer prices slightly better than the avg bear. That worked great in the past because savings are savings. But times have changed now. In this economy, even though a lot of businesses are offering cheaper prices than in the past, a lot of businesses aren’t offering super deals and it’s not good enough for a lot of the customers now. It’s not that they’re waiting for super deals to happen ( some are, but most aren’t waiting ). It’s that they either don’t wanna risk spending money in this economy or they don’t have enough to spend now. But if you offer super deals in these times, customers will find a way to buy, regardless of the economy. You have to know the key to the customers wallet and in this bad economy, I’m afraid that’s about the only key because customers minds right now are too closed minded with the economy being bad. But on the bright side, a company offering super deals at a time like this, it won’t take long before a lot of customers from similar companys switch to your company, plus the mass amount of free referrals because the deals are way too good compared to the competitor companys. The super deal rumor will spread so rapidly in this bad economy.. So in other words, your company would get tons of customers for sure.
In today’s economy, you need to contact more people to get sales as less people have the money and less people are opening new businesses. Unfortunately, poor conditions make many of us slow down our contacts and even give up.
I suggest that you write down every day your goal for contacting new people. Then, at the end of each day, look at what you achieved. Did you achieve your goal?
As to how to contact more people, you could go door to door or you could use automated telephone prospecting. This will give you contacts with thousands of new prospects every month.
It’s all a numbers game in good times and in bad.
We offer training on door to door sales and we offer automated prospecting at http://www.salesandmanagementsolutions.com
do not work for money, let money work for you. all the answers you need are in the book-Rich dad poor dad author Robert Kiyosaki and the other lady is the co-author but i have forgotten the name. good luck
Simple and short answer….
When I was still self-employed I was doing two for one deals…consulting may be a little different then what you are asking but I offered some lower prices, so that people may get drawn to my work. It definitely helped!
I switched from Verizon to AT&T, because your too expensive and your service is awful.
How the mighty have fallen.