Small Business Survival.....

Topic: Database analysis.......

Everyone by now knows we are in tough times. Questions for small business owners (SBO):

How do you generate sustainable profits?
How do you survive?
Where do you look for help?

Answers....

Most SBO have a client list. It is a great time to examine your database with your staff and determine how to generate more revenue for your company. If someone has purchased something from your company in the past, and you have done a good job, chances are they will purchase from you again. (products or services)

Take a look at each client and what they have purchased. Is there anything else that you sell that they might be interested in? Do you have a monthly newletter with a coupon that you could utilize? How about a phone survey? A phone survey is a great way to build a relationship. You want to be the first person they think of when looking for a purchase. In today's day of technology the phone is a tool that is not utilized as often as it should be.......great way to build relationships, it shows thoughtfulness.

Let me back up a little....never underestimate your employees. They are a great source of referrals. They have great ideas, but probably need to feel that you will actually listen to them and maybe even reward them for a great idea.......don't be an island in this regard....the more different thoughts and ideas the better......

If someone has made a purchase and they are happy then referrals should flow. The issue is to not be pushy, but also to utilize your former clients and their circle of influence to generate more opportunities for sales.

Compare January of 2008 to January of 2009. What happened? How much did you sell of one product or service. What are the ways we can capitalize and generate more sales? Always be thinking of profitable avenues for your company.

Good book on this topic;
Data Driven by Thomas C. Redman
Harvard Press Review..

Steven Hume
www.linkedin.com/in/stevenhume66