900 N. Kings Highway, Cherry Hill, New Jersey 08034
856.667.4100 · 215.563.0276 · Fax: 856.667.3652

The Online Advisor

June 2005

Smart Business

Your business can flourish, even when the "big boys" come to town

Many local businesses fold when a large retailer comes to their town. Is it possible to compete with these giants? You also have increasing competition from the Internet and mail order sales. What should you do?

Most locally owned businesses have a strong local following. You should capitalize on this. Go the extra mile in solving customer problems. If you don't have an item your customer is looking for, help locate it. If customers show up five minutes before or after closing time, accommodate them as best you can. If the till is "closed out," accept almost-exact change, or send them an invoice. Customers may have battled heavy traffic to get to your door. They will appreciate your extra courtesy. Better still, they will tell their friends.

It is important that customer service be supported from the top down. Every employee from the manager to the cleaning staff should know the company's customer service philosophy and practice it. It is imperative that new employees be schooled on customer service before they have customer contact.

It does little good to talk good customer service only to find that your customers are being let down. Unless you are getting unsolicited compliments from your customers, your customer service probably needs some improvement. Remember, it costs about five times as much to acquire a new customer as it does to keep a current customer happy.

What local businesses do you enjoy dealing with the most? Analyze what they do that makes you want to deal with them. Maybe you can employ elements of their customer service in your business.

If we can be of assistance, please call us. We are here to help your business be as profitable as possible.

For details on exactly what business records you need and how long they should be kept, call us.

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