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Is Your Business Buyer Ready? Your Customers Have the Answer

August 15, 2011 By Leave a Comment

Running a successful business is the goal of every business owner. Eventually though you will need to sell the company in order to move on to your next venture or to retire and sail off into the sunset Jimmy Buffett style. In order to obtain the most money upon the sale of your company,you will need to ensure that every aspect of your company is “buyer ready.”  Developing an ongoing, stable revenue stream comprised of satisfied customers is one of the most important things you can do to make your company buyer ready.

A couple of months ago, John Warrillow wrote an article for Inc.com called “One Question Can Predict the Future of Your Company.” In it, he discusses a common problem for all business: monitoring customer satisfaction levels.

How LinkedIn Users Interact With the Social Networking Site [INFOGRAPHIC]

August 8, 2011 By Leave a Comment

There’s no doubt that LinkedIn is popular. The social networking site hit 100 million members in March and is continuing to grow. LinkedIn allows users to create an online resume complete with references, but perhaps the most valuable resource is the network you can create on the site. The service gives you the ability to see if anyone you know is connected to someone that you want to know, potentially turning a cold call into a referral.

Recently Lab 42 conducted a survey about how LinkedIn users interact with the site and created an infographic with the results. Besides visit frequency and how often people update their profiles, Lab 42 asked the key questions: What do you use LinkedIn for the most and why is LinkedIn useful?

Customer Service: America’s View of Who Provides the Best and Worst [INFOGRAPHIC]

July 27, 2011 By Leave a Comment

We all know how crucial good customer service is to our business. A while back, Carl Doerksen pointed out that our “real boss” is not our manager or CEO but the customer.

The infographic below touches on some of the same points that Carl mentioned – things like following through with your promises, being knowledgeable about your company’s products and services, and treating people respectfully.

How Small Businesses Are Engaging In Ecommerce [INFOGRAPHIC]

July 18, 2011 By Leave a Comment

We’ve explored why businesses should get involved in social media, and today we’re going to take a closer look at ecommerce. Ecommerce generated close to $42 billion in retail sales in the third quarter of 2010, a 4% increase over the same quarter in 2009. Even though online sales are growing dramatically, small businesses are integrating ecommerce into their operations at a much slower rate.

The Challenges of Growing a Business To Make It Buyer Ready

July 12, 2011 By Leave a Comment

Those of you that read this online publication on a regular basis know that we started a conversation several weeks ago on the topic of creating a buyer ready business. The first article looked at the emotions involved in deciding to sell and the second article examined some specific steps to create a buyer ready business.

So I was intrigued when a colleague forwarded an article delving into the challenges of growing an “entrepreneurial business.” This is a business that doesn’t just survive through the years but also thrives. This would also be, in keeping with our theme, a buyer ready business. So I thought I would share a few ideas from Ed Hess, professor of business administration and Batten Executive-in-Residence at University of Virginia’s Darden School of Business.

More Companies Should Use Social Media Marketing, Numbers Say [INFOGRAPHIC]

July 7, 2011 By Leave a Comment

As social media sites gain real estate on the Internet, more and more businesses are signing up for Facebook and Twitter accounts, creating an Internet presence for their brand. Not only can private businesses market their products and services through social media, they can also engage and interact with customers, solving problems and answering questions in real time.

Stop Caring About the Number of Social Media Followers Your Business Has

June 16, 2011 By 9 Comments

Many companies only care about the number of Facebook likes or Twitter followers their corporate social media accounts have. That thinking won’t help you grow your business.

Do the thousands of people that “liked” your Facebook page interact with your business? Do they share your products and services with others? Do they tell you what their likes and dislike are?

If there is no relationship between you and all of these followers – if they don’t interact with you – then they don’t offer much value to you.

How to Avoid Getting Fired By Your Real Boss

June 10, 2011 By 1 Comment

If I asked you who your boss was, you would probably tell me that your immediate supervisor is your boss. Or maybe you would say it’s the president of your company. Or maybe you’ll tell me that you’re the boss because you run your own business.

You’re wrong.

Your real boss, the one that truly counts, is your customer.

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