Small Business Planning for Entrepreneurs

Copyright (c) 2009 Alan Gillies

Have you ever had to deal with a situation where you couldn't close a contract with one of your suppliers even though there are regular delays in deliveries? This problem stems from the kind of relationship they built with you over the years.

Strong and long lasting relationships are the pillars of small businesses, on which rests the complete structure that makes most of these businesses successful. A new business may not have plenty of money, a solid infrastructure, or world-class products and services, but it can still sail through this competitive business environment and sustain itself - with strong relationships.

A small business pursuing success in this business era should aim for maintaining healthy relationships, not only with customers but also with in-house employees and business associates. Every business partner is quite different in their individual approaches towards a business, so we need to have different ways to effectively deal with each one of them.

- Customers - The customer's needs and desires are the sole reason for the existence of any business or organization, and as the process of selling to a new customer includes far more cost and effort than selling to an existing one, why not show your existing customers that you care about them - by regularly keeping in touch, personally requesting their feedback.

- Tailoring your method to individual customers is a good plan - as no single customer is the same. Keep a detailed record of your customer's purchases so that you can easily remind them of an item or service they may have forgotten, or even something new which they may not have otherwise considered. Sending customers reminder emails, phone calls, or greetings can make all the difference in the way they feel about you and your business. Also, handing out complementary gifts, discount coupons, and loyalty rewards will make most customers feel individually appreciated and personally valued.

- In-house employees - The workforce of any business is crucial for the attainment of any measure of success. It's important that these employees - mostly those with specific merit, be often shown appreciation for their achievements and ability in the workplace. Business gifts, awards, acknowledgement bonuses, birthday gifts, seasonal and festive gifts all play a very important role in keeping your rising stars motivated and focused. These gestures of the business create a sense of belonging in the employees, which will help them to personally identify with the business and feel a sense of loyalty, thereby keeping them with the business for a much longer period of time.

- Business Associates - Business associates consist of individuals such as suppliers, distributors, and advertising agents, as well as any other people who derive a similar measure of profit from a given enterprise. These are the individuals who keep the business afloat, helping it to thrive with regular supplies, deferred credits, discounts, advertising, etc. Distributing promotional gifts, loyalty rewards and appreciations are some of the fantastic ways of showing gratitude to any of the company associates, as every one of these gestures will clearly show them that they are valued by the company.

The key to being successful - whether in a small business or a large company, will always be a well maintained solid foundation, along with mutually profitable relationships with every one of your business associates.