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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Business Coach | Meeting Customer’s Expectations Isn’t Enough

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Um, so most people choose those established brands out of fear.

Yeah, I can see why with the two I can be [inaudible] cause it’s not,

hi, thanks for joining us for another episode of ask. Sperl CPA today is the m to business coach. We’re talking about how meeting customer’s expectations isn’t enough. So as the business coach, again, we’re talking about how meeting customer’s expectations is not enough. And I have Michael here with me again. Michael, have you ever done business with someone or you know, had a product or service applied by somebody who, you know, was just checking the boxes and doing the bare minimum too to get payment? Definitely, yeah. Yeah. A lot of the big companies, right? Yeah. Yeah. Um, so the, the court that we have here today, it’s a Michael Gerber quote, you know, author of our favorite the e myth. And it says, the entrepreneurial model has less to do with what’s done in a business and more to do with how it’s done. The commodity isn’t what’s important from my understanding as an Edmonton Business Coach.

The way it is delivered is in the statistic that we have is, you know, 50% of all Canadians, small businesses will go out of business in the first five years. And the story that we see over and over is business owners. You know, they have experience working for a more established company and they don’t realize that the customer expects more if they’re dealing with a company that is not as established. So they come from this established brand and you know, there’s a certain expectation, but when they go to a smaller brand, the customers less uncertain. That expectation is different. So our, you know, Michael, what are the questions that these business owners should be asking? Is there a difference between organization reputation and individual reputation then please use these guys now for the best Edmonton Business Coach? There is and it’s a big diff as there’s a big difference and it’s hard to see. So you know, a business owner, they tend to come from a, uh, employment role and they tend to be one of the more senior staff.

You know, they started an electrical business and they’re a journeyman electrician, maybe a master electrician, and they have a decade worth of experience. And that individual reputation is huge. You know, they’re looked at as, you know, one of the leaders in their organization when they’re an employee and then they go start on their own. And the disconnect happens is they don’t really realize that now as a company, they’re a brand new, unknown, unproven, uncertain entity. Even though they have this huge individual reputation, the organization that they’re working for now is now very low and that’s hard for them to, you know, differentiate and they have to understand that there is, there’s two separate things going on there that, you know, some people won’t value that individual reputation. They just look at them as you’re the new kid on the block basically. Well, most entrepreneurs have low organizational reputation.

When did they start out? Almost inherently like when they start out, where did their individual reputation is high or low? Their organizational reputation is if it’s a startup, it’s always low from an Edmonton Business Coach today. So unless you’re buying someone out or taking over the old owners position where that organization itself has some, you know, reputation, um, usually when they start out it’s a, it starting from scratch. And that’s really tough because a lot of these people come up with, you know, years or decades of experience, and they have to realize that the organizational reputation is an entirely different beast. Do most people choose established and brands out of fear? Yeah. So most of the Times your, you know, think of your on the road trip you’re driving and you just want something to eat quick and you just want something to eat fast and you don’t care if it’s, you know, great.

Uh, but you want to just make sure it’s good. It’s okay. Um, it’s going to be consistent. And then you see the Golden Arches as you’re driving on the highway, right? Uh, and then you see, you know, Joe’s diner and right next to it, most people are going to pick the gold nurtures. They know it’s not going to be the best hamburger they ever had and the best meal they ever had, but it’s gonna be consistent. Uh, they’re not, they’re, they’re uncertain of what’s behind Joe’s diner. There. There’s a fear there. It might be a great experience. It might be a bad experience. The food might be good. It could be awful. We could get served quickly. It could take forever. Um, so most people choose those established brands out of fear. Should you focus on providing more value to sway customers? Yeah, so the, the, you know, the startup organizations, that Joe’s diner, it has to focus on providing more value in order to sway customers because the customers have that natural fear and usually in the absence of more value, they’re going to go with a more known brand.

So if you’re a small business that’s not going to help you at all because your non norm brand, you have a low organizational reputation. Um, so in, in order, if you want to sway them away from that, you know, if you want someone to, you know, make the decision to do business with you, knowing that that fear is there, you have to have, you know, the the promise and deliver more value to provide more value. Should you lower fees or add services and features. Almost always you want to add services and features. Um, so you don’t want to be cheaper because being cheaper is generally not a sustainable business model. It’s not a scalable business model. I mean, if you got to do a few projects off this stop off the, off the hop to get some reputation at all. I mean, you, you can do that on fees, but that’s not something you should think about doing, you know, uh, two years out, three years out, four years out, five years out. Be sure to work with the top Edmonton Business Coach to get all the help you could need.

If you’re, if you’re, if you’re still having to slash fees to get a job at that point, um, you’re, you probably, you’re doing something wrong. A, what you really want to do, because it’s gonna take years, if not decades to get this organizational reputation is, is you’ll still be small. You’ll be moving up on that organizational, uh, reputation scale. Um, but you still won’t be the big player on the block because you’re competing with, uh, you know, much more established brands and sometimes multinational brands and in, in a lot of different industries. So you have to focus on providing more value in that tends to be better service or more features. So it’s not cheaper, but there’s extra benefits of going with us or there’s gonna be less pain points of doing business, uh, with this small business. And that’s how you swayed them over.

Are there ways to add value? They’re not directly tied to your product or service. So sometimes everyone thinks about what are the features of my products and services my warranty longer? Do I have better products that I’m using? Um, but they forget about, you know, what, what a Gerber says about the experience. What about the experience? Sometimes it’s not directly related. How about just when you answered the phone, was it pleasant? Was it, was it a nicer experience? Um, you know, was it a more upbeat experience when they came to your, your office or your place of business? Um, you know, was it clean? Did you have, you know, better coffee for them to drink at the office? So it, you know, did you, you know, maybe drop off a little gift or thank you card or donuts or whatever it is to help you dominate from a solid Edmonton Business Coach process. Sometimes that how you add isn’t directly tied to that product or service.

There’s, there’s, you know, a little add ons that you can do that, you know, to some customers they don’t care about, but some, it means the world to ’em. So, you know, there’s different things that you can do. I mean, you want to add value in both that product and service, but consider every interaction with the customers and opportunity. She should you look at every interaction as an opportunity to add value. Yeah. Yeah. So, so like drill rate through, you know, that, that lifecycle and the customer rate from when they pick up the phone or see you online the first time to one year after you provide the customer service, what can you do in every single interaction, you know, right from when they pick up the phone. Do you have the good phone script, you know, do you confirm the appointment in advance? Um, when they show up to the appointment for an Edmonton Business Coach, as someone offering them a beverage, do they have something to do, something to watch, something to read when they’re waiting, you know, in the waiting room.

Uh, when they, when they come in, you give them a nice tour of the, the, the facility, uh, make them feel a little bit more at home. Um, do you have a script? Worked out to kind of break the ice and get to know people, um, you know, do you have a followup mechanism after even the, the wording of, you know, when you’re asking for the business after, have you thought about that wording? Um, and after you deliver the product and service, you have a way to follow up one year later, uh, to see, you know, a day later, a week later, a year later to see if they’re still happy with everything. Did you deliver on that product or service? So every single interaction from, I would say when they, they first call you to, you know, a, a determined period of time after that product or service and everything in between.

Should you always focus on over delivering until you get a review or referral. Yeah. And some people think about, you know, uh, they, they, I think it comes down to being selfish and people think that, oh, I don’t want to over deliver. Who should, why should I go above and beyond? And, you know, overdelivering, um, is probably one of the most selfish things that you can do, uh, because if you overdeliver, you’re probably going to get that review or that referral that’s going to lead to more business again. Um, so you know, you, you should want to do it because you enjoy your position, but even, um, you know, you have passion for what you’re doing. But even if, if, uh, you know, you’re a little on the fence, just realize that that has a payback. So usually you keep going until that customer is not just, you know, you’ve met the minimum, but you’ve gone beyond their expectations and that’s the point where you’re starting to get reviews and referrals and, you know, that’s what’s really gonna move your business forward. Call now to start working with some of the best Edmonton Business Coach today!

Do most business owners underestimate the value of her review or referral? Hundred percent. Yeah. They really like, social proof is a huge, um, it’s very difficult to get people to act without social proof. You know, we know in, you know, the online world that we see that you can’t even get websites to rank very well with less than 40 reviews. Uh, you can’t buy ad space well with less than 40 reviews and they don’t convert even if you do get them there. Um, so most people drastically underestimate, uh, the, the reviews and the referrals. You know, it’s so expensive to acquire new customers. If you can get one for free from an existing customer, I mean free is always a fantastic price. If you’re going to acquire a customer for free and you know, they convert better and they tend to be, you know, more loyal clients and you know, they, uh, tend to stay longer than less resistant points with them.

There’s more trust right off the bat with them as well. Will employees begin to overdeliver if they watched a company over deliver? That’s part of it too. So it’s not just over delivering to the customer. It’s starts to permeate its way into the entire organization. So the, you know, the employees see the business owner striving to overdeliver, the management, trying and strive and over deliver. And all of a sudden the front line employee is start to say, that’s just our culture here. And there’ll be employees at every level, at every task, they start to overdeliver as well. So it, that sort of behavior that starts with the interaction with the customer begins to permeate all throughout the organization and then you become a, or a real powerful force to be reckoned with for sure. Um, so I think that’s what we have here today. Thanks again for watching. Please hit the like and subscribe buttons so we can continue to deliver your tips on how to beat the odds and business. And as always, little please leave some comments below so we can respond back and know what you guys would like to see in future videos. Thanks very much.