|Small Business Information|
Creative Metrification - A Technique to Improve
Some things in business are relatively easy to measure ? these are the "hard" metrics such as sales volume and profit, production per man-hour, time without an accident, shipments without error, number of customers served, on-time delivery, etc. Other, "soft" metrics, are more difficult to quantify, but with a little creativity, measurement can be made of just about anything.
It is a process I call "Creative Metrification" but before I tell you more about it, I have to first issue a disclaimer. It is important to note that "soft" metrics are often not exact measurements that would satisfy a scientist or an engineer however "soft metrics" are much more precise than a "gut" reaction or a "hunch."
As an oversimplified example, let's say the goal is to increase sales by increasing "Customer Satisfaction," to increase sales to returning customers and / or decrease defections - about as "soft" a metric as there is. Is "Customer Satisfaction" measurable? Yes, if you create Creative Metrics.
As an example, one way we can measure "Customer Satisfaction" is by creating a metric I'll call "Customer Dissatisfaction Rate." The measurement will be the number of complaints you receive each month. We also keep track of the reason for complaint (product quality, errors in order picking, late delivery, staff attitude, price, etc.). From this data we can create a prioritized action plan to eliminate or significantly reduce the number of complaints and therefore the number of dissatisfied customers.
If the action taken to reduce complaints is working, over time the number of complaints, and therefore dissatisfied customers will decrease. All things being equal, as Customer Satisfaction increases, sales revenue should also be increasing. Other ways of measuring "Customer Satisfaction" are the number of referrals, responses to telephone or mail surveys, returning customers (and perhaps time between sales to returning customers also).
Is this an exact process? No, but the final measurement is whether improvement is being made and goals are attained. For many business actions, the only way to measure improvement is by using Creative Metrification.
Larry Galler, a Coach and Consultant, works with Owners and Managers of small and mid-size businesses to substantially increase sales volume and profitability through creative marketing strategies and streamlining or eliminating "administrivia."
To learn about ways Larry helps businesses acheive their goals visit http://www.larrygaller.com
The Responsibility Conundrum - Where art Thou?
Mr/Ms, 'not me' is often on holidays in your business. Yes come rain or shine they attend the workplace and put in the day for you; coffee to drink, gossip to catch up on, spying on management and colleagues, frequent toilet breaks, long lunches, long phone calls and let not forget the email needs to be checked and replied. Off course the home business needs more customers so a few phone calls here and there are quite appropriate so they think!
7 Advantages to Incorporating
There's no question that hard work and a little luck is what it takes to BE successful. But a little knowledge, especially when it comes to setting up your business, will help you STAY successful.
How to Protect Yourself & Your Business
As a business owner, you already know how important it is for your customers to feel safe about doing business with you. After all, if a customer even suspects he may not receive everything he was promised, then chances are he's taking his business elsewhere. So to prevent that you offer guarantees, secure payment methods, prompt customer service, and more. You do whatever it takes to show each customer that you are sincere and trustworthy.
Environmental Pressure Washing in Pennsylvania
If you run a mobile car wash, mobile fleet washing company, mobile auto detailing business or a Pressure Washing firm in Pennsylvania there are things you should know. Pennsylvania is serious about cleaning the environment.
Simple Business Tactics Are Your Key To Success
In a world full of complications sometimes we overlook the simple things in life. We are so busy trying to work out our twisted problems that we miss out on the simple secrets to success. The same can be said of our businesses. We get caught up in endless problems when all we really need to do is to step back and see the simple alternatives, that will lead us to success. Sometimes we need to think with the simplicity of a child.
Five Facts and One Motivating Factor Behind a Successful Home Business
All legitimate home business entrepreneurs insist and announce loud and clear that a successful home business is not about an overnight thing. And that you cannot get rich overnight and so on...
Boy oh Boy, The Obstructions and Obstacles
The bad things starts with the letter 'O'?.like Obstacles, Obstruction, Obscene?.overly-poor? There's bound to obstructions and obstacles in everything that we do in life. Like riding a bicycle. We get a few scrapes and bruises and think that we're never going to ride a bike ever again. We try to blow bubblegum and we blow it up in our own face and have our laughing friends jeering at us. We try to dress up only to find out that we look dowdy. Everything in life, there's an obstacle.
Joint Venture Your Way to Extraordinary Sales!
You know what makes me really happy? Drinking a Starbucks latte while doing my grocery shopping at Safeway. Getting my Godiva fix at Barnes & Noble. Cheap thrills, I know!
A Portable Trade Show Exhibit Makes for an Easier Show
You can make your trade show experience much easier by using a portable exhibit. Since you control everything related to transporting it and setting it up, you won't have to hire firms to for those things for you.
What To Consider Before Buying A Franchise
Here are some useful tips on what to consider before buying a franchise. Before investing in any franchise system, be sure to get a copy of the franchisor's disclosure document. Sometimes this document is called a Franchise Offering Circular. You should read the entire disclosure document.
What Your Small Business Can Learn From The Doctor
Most doctors never distinguish the difference between customers and patients. That's why they have waiting rooms instead of reception areas.
Franchise Buyers Lying On Forms
The Federal Trade Commission which governs the franchise industry thru the franchise rule, which enforces Franchise Disclosure laws seems to think that consumers need to be protected even when they lie. Often The FTC takes complaints from consumers who claim they had been ripped off or lied to from someone selling a Biz-OP or some corporation, which sells franchises. The Federal Trade Commission will not admit that at least two-thirds of the incoming complaints are made in falsehood by consumers; as a participant in the industry I can safely say that much misrepresentation comes from the buyers side and not from the sellers.
Starting a Virtual Assistant Business
If you're organized, smart, capable and willing to work with deadlines, you could start a virtual assistance business and cash in on your skills without having to commit to an employer (you'd be your own boss instead) or the "cube life". A VA (virtual assistant) is basically like an administrative assistant (or whatever duties need to be filled, such as writing, link building etc) that serves in a virtual capacity. What this means is that they are independent contractors, and not employees of individual companies.
Small Business Grants - Tips from the Pros
Every business starts with an idea or a dream. To implement this idea or to turn your dream in to reality you require finance. A grant supports the business ideas and turns the dreams of an entrepreneur in to reality.
Small Business CRM Is Here To Stay
If you ask most small business owners what priority CRM has in their short-term business plans, chances are you'll get more than one blank stare. The fact is that most small business owners don't even know what CRM is not to mention how significantly it can benefit their growing company. This prevailing ignorance of small business CRM (customer relationship management) usually stems from just a few basic causes.
Accepting Checks in Your Business Virtually Risk Free
Most businesses accept checks as form of payment for goods and services. However, accepting checks can be a risky endeavor if your company doesn't follow good policies and procedures for preventing loss from bad checks. In fact, the reason some businesses do not accept checks is because of a history excessive "bad checks" that costs their business to much money and aggravation, preferring to accept only cash and credit cards. Whether a business currently accepts checks or not, they can minimize the cost of accepting checks to less than 1%, which is less than half the 2% to 3% cost of credit card processing. The only payment method cheaper is accepting cash.
How to Prepare for Your Start-Up Venture!
When you awoke this morning, you found yourself buzzing with a fantastic idea for starting a new business and you hadn't a doubt in your mind that you could turn it into a huge success. But now what? All those great ideas floating around in your head and you're excited about making them happen, but at the moment you don't know where to begin. What is the first thing you should do as you contemplate your plan of action?
Work is a Four Letter Word
I love work, I can watch it all day.
Do You Need the Help of a Virtual Assistant?
Running a business, whether large, small or in your home, is full of challenges. Getting the day-to-day tasks completed, e-mail, faxes and telephones answered, bills and statements sent out, reports run, schedule updated, travel arrangements made, marketing pieces and website updated, as well as a plethora of other tasks, can be downright daunting.
Maintaining Your Carpet Extractor in Your Auto Detail Shop
Auto Detailing: Maintaining A Commercial Carpet Extractor
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