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3 Reasons Why Your Business May Be Failing

In today’s economy, every penny counts. New businesses are emerging left and right with the hopes of cashing in on the next big idea. While some small businesses reach success rather easily, for one reason or another others unfortunately fall between the cracks. Whether it’s the competitive nature of the industry or the lack of appeal to your customer base, remaining up to par is a constant struggle. The worst case scenario being debt or foreclosure can be avoided if warning signs like decreased sales are acknowledged and dealt with accordingly. Where there’s smoke, there’s fire, and as the company head, it’s up to you to find the fire, put it out and then determine its cause. Before you reach rock bottom, revamp your website, customer service processes and client meeting rooms to reap big benefits and keep your company afloat.

These days, most companies have both a website and social media profiles. This exposure works in their favor as a marketing tool and, most importantly, advises potential customers of legitimacy. Proving your company’s credibility will give customers a reason to believe in your company.  Since customers don’t want to give their money to a company they don’t trust, establishing this relationship off hand is necessary. A website also proves credibility because it shows a sense of status. From a customer’s point of view, a company without a website isn’t reputable and probably isn’t the best at what they do. Even if you have great services to offer, the chances of being considered by a customer against a competing company equipped with a fully designed website are slim to none. As far as consumers are concerned every big business has an internet presence. You have to dress the part, to get the part.
 
Merchandise isn’t the only thing becoming redundant within the business industry. Customer service calls can be some of the most standardized, robotic conversations known to man. While you want to provide resolutions to any problems your customers may encounter, you also want to ensure the issue is resolved quickly to satisfy the customer.  Research shows that consumers value speaking directly with a person as opposed to a machine and also found that the flow and tone of a conversation may determine whether a company will gain or lose a new customer. According to TheNextWeb.com, 78% percent of participants in this study agreed their customer service experience was satisfying due to speaking with a capable and competent customer service representative.
 
One of the biggest issues small businesses face is presentation. Small businesses usually do not have extensive budgets to afford a functional work space and if they do, the design of the area could suffer from lack of funds. They may pinch pennies when it comes to a physical store or office which for many customers can be the ultimate turn off.  First impressions play a major role in whether or not a client will want to do business with you. Invest in your company and dedicate funds to secure appealing meeting rooms or offices for in person meetings with clients. When customers visit an establishment, they want visual confirmation of a clean, organized environment that reflects the professionalism of your business.
 
Nothing is worse than taking one step forward when starting a business only to take a few steps back and allowing it to fail. Boost your chances of success by giving the customer what they want so you can get what you need.
 
Mercedes Potter is a part of an elite team of writers who have contributed to hundreds of blogs and news sites. She enjoys blogging about business strategies and offers insight from a consumers standpoint. For other business related tips and ideas, follow her @CedesPotter.


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