Business Advice: Ways to Capture Your Market an Expand Your Business

It seems as though people are signing up for small business incubators and accelerator's by the dozens.

It is true out of disparity comes seeds of great creativity and innovation, many great products that last over 75 years were created by people who survived The Great Depression.

However, the difference between the entrepreneurs of that era and today are far different, and I laugh at books that now "teach people customer service."

Why?
As a potential business owner, you may have the greatest idea; however it comes down to two basic things:
1. Transparency
2. Consistency

Transparency are you the person, who say you are?

 As an alumni of the National Academy of Finance, I had the luxury of learning at a very young age from learning from the best, in all areas of business. The key tenet that they stressed to us was character.

Fast forward several years later I attended several entrepreneurial workshops and the same thing came up-- 

Are you the person who say are?

Many people have wonderful resumes, great PR people, and volunteer to the right organizations. But, if you were to really observe them from the way they treat their doorman, guy at the new stand, their families, you would NEVER want to have anything to do with that person, far less business.

Sadly, when the stakes are high when they are in front of a Venture Capitalist or they have so much turnover in staff and they are rapidly losing market share then they begin to question: "Is it me?"

In fact in February, when I went to an "event" two amazing speakers told us that they would have done a multi-million dollar deal with an entrepreneur, but something came up about regarding this person's past and that was questionable, so when they gave this person the benefit of the doubt and asked "Do you have anything that you wish to tell us about yourself?" This person said no and they rejected to do business with this person.

Key Lesson: Know Yourself and If You Have Been Less Than a Stellar Person, Admit and Own It! 

Transparency is key!

Consistency: 
In business you need to be consistent. 

Do what you say you are going to do and deliver! If you don't or can't do business with certain people, let them know up front, they will respect you more and when needed they may refer business your way.

Set out clear expectations for your staff, reward those who not only do great work, but those who are loyal and bring a sense of peace to your business. 

When things are hectic, you should be able to count on at least one person to be a Pollyana.

When I worked in Asset Management, the receptionist "Marie" was that person, she never complained, always had a smile and gave an encouraging word when things were not going so well. Every company needs a Marie!

When your staff is happy and loyal it is very easy to attract more business and funding. 

People can detect division in anything if it is within a business, family, sports, etc; which then weakens the performance of the team and makes the team vulnerable to all types of internal and external attacks.

No matter the product or service: Transparency and Consistency Rules!!





 

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