Issue 04, May 08

www.impact-corporate.co.uk

"Developing Business Excellence"

Hi {~Firstname~},

In this edition:

1. Introduction
2. Tip Bitz
3. Feature: Customer After Care
4. Your Ideal Customer
5. Ain't technology marvelous?
6. Other stuff
7. Subscribe/Unsubscribe information

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Introduction
Welcome back and I hope you and your business have enjoyed the recent sunshine!

Generally good weather gives us a lift and the natural high is as infectious as the England Football team reaching the quarter finals of a major competition - Oh well let's pray for more sun!

It can also be (and seems to be) a reason not to do business along with wet weather, Easter, Bank holidays (and they say we need more!) and just about everything else - a few tips for easing the seasonal high and more likely lows:

a) Enter your bank holidays into your diary. Many people use outlook as their default dairy and guess what - the bank holidays aren't recognised.

b) Even if you don't have kids - note the school holidays also.

c) Plan to proactively increase activity before and after these periods to 'iron out' the highs and lows.

Biztips is completely complimentary and I hope you find the content here both useful and informative. If you haven't already done so then please subscribe and feel free to send it to a business colleague, friend, client or even supplier, by using the link here or in the right hand margin

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Tip Bitz

VAT Change from April 2008

From 1 April 2008 , the annual taxable turnover threshold at which you must register for VAT will increase from £64,000 to £67,000.

Overseas workers

Ensure that your business complies with the new requirements to check the eligibility of foreign workers to work in the UK .  Failure to do so can result in a fine. For further info contact the HR Dept on 0845 6349169

Minimum Wage

On 1st October 2008 there will be an increase to the national minimum wage. Over 22 year olds will receive an increase from £5.52 to £5.73 per hour. For 18-21 year olds the rate will increase from £4.60 to £4.77 and 16-17 year olds will see an increase to £3.53 from the old rate of £3.40.

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Feature: Customer After Care

Let's think about this for a moment. As business owners we know all too well just how much time effort and cash go into creating new clients.

Research shows us that, on average, it takes 5-10 times more investment in gaining new business through prospects rather than existing customers. That being the case, it is surprising that (in my experience) very few businesses have a well structured after sales process to ensure client satisfaction and to encourage repeat business and furthermore referral business.

Think about it… the key decision makers receiving an after sales report based upon your follow up routine. What would that do for your credibility as an ongoing supplier? There are of course many ways to influence repeat sales and referrals – what are your favourites?

A bottle of champagne awaits the most creative idea received. Doesn't have to be original just creative and workable - so visit our contact us web page, detail your idea in the message section and we'll let you know who bags the bubbly next month!

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Your Ideal Customer

This has to be one of the biggest ‘no-brainers' in marketing terms and yet having coached and trained so many business owners over the years, it's absence from a small business marketing strategy astounds me!

Understanding who your ideal customer is and then creating a plan to attract, engage and develop relationships with this ilk of client should be right up there with the fundamentals in the marketing section of your business plan.

I once held a group session with 10 business Owner Managers and to a man and woman within few minutes think time and some well structured questions they created a pretty detailed outline of a prospect. They could also readily give me a number that if attained within a year would make a considerable uplift in their profitability. However when it came to the plan not one could give me a set of strategies or actions that they were following to create those additional ideal clients and indeed the additional income.

Who are your ideal customers?

Consider these questions as a start:

• What line of business are they in? Or What do they do for a living?
• Where are they located?
• How much will they buy?
• How often will they buy?
• Will they offer you referral business?
• How much attention will they need? Etc etc.

You get the picture – then ask yourself this:

• How many new customers (of this sort) would you like this year?
• What difference would that make to your profit margin?
• How are you planning to attain them?
• How does your business plan accommodate them?

Do you have a marketing plan? No - You know what to do. Get in contact here!

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Ain't Technology Marvelous?

I know this can be a frustrating area for some but, wouldn't it be great if when the phone rang in the office just as you lifted the receiver, up came that customer's (or prospect's) profile from your CRM (Customer Relationship Management) database? You could greet your client by name, refer to all of the previous contact information and be ready to start building rapport and a great relationship!

It'll never happen!

It already has - technology is marvelous after all!

At a recent meeting with Andrew Williams (of Buy Trade Phones) I was blown away with his company's technological integration solutions.

If you think this would be a benefit to your business or could form part of the infrastructure behind your business success then call Andrew on 0845 658 2489 or visit his web site at www.buytradephones.co.uk  They can even reduce call costs!

Stumped for a CRM solution - call me at the office: 020 8642 1919.

Business Reviews

In the last edition we extended our Business Review offer (a two to three hour review session with one of our consultants entirely at our expense) that was snapped up by three lucky businesses. The same is on offer this month so give us a call ASAP to book yours, call 020 8642 1919 now.

Nat West Networking Seminar 
Last Month I spoke at the above networking event (by the way it's free and there are lot's of good contacts to make) primarily around owners valuing their business and some new perspectives on planning and fulfillment. If you missed the event then why not contact the office on 020 8642 1919 for a summary of the information.

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Thanks for reading, I hope you found this month's offerings useful and please consider the questions in this month's feature carefully. I urge you towards unprecedented success!

 

Phil Wells
Business Success Coach
www.impact-corporate.co.uk

I will only bring you items and information that I believe will benefit your business.

 

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written by
Phil Wells

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