One small business owner who opens a restaurant fails miserably. Another restaurant opens in the same town, does well and then expands to a second, third and fourth location. What makes one business fail while another succeeds? One of these entrepreneurs does not know the keys to success.
Smart Small Business Owners Don't Fear No
"No." "Not now." "No." "I'm not interested." "No." "Maybe later." "No. No. No." So many people who begin businesses that have so much potential give up after the first, second, or third no. They take every rejection to heart. They feel that a few no's mean that they are failures and that their business idea is worthless. Other people don't even get that far. They fear no so much that they won't even start. They won't make one call. They won't hand out one business card.
Then, there are the people who don't fear no. People who know that if they persevere, they will finally hear yes. They hear no and get even more determined to succeed. They add three more people to their call list. They use a different approach. They do something to make sure that someone will say yes instead of no. These people have discovered a key to small business success. They know that, if they have perseverance and determination, they don't need to be afraid of customer rejection, because there will be a yes somewhere down the road.
Successful Entrepreneurs Think Creatively
Some people create a plan or have someone create a checklist for them. Then, they follow that plan. It can have obvious problems, but they stick to it. When they fail, they are bewildered that their business didn't thrive.
Other people are willing to think creatively and will re-evaluate plans and checklists on a regular basis. These people have the flexibility to help their businesses succeed.
Great Business Owners Provide Exceptional Customer Service
A coffee shop was positioned in a high traffic area with a population that has a lot of discretionary income. It failed miserably and went out of business within a year. Another coffee shop was (and still is) located in a small town with a fairly low income population. Why did the first shop, which seemed to have everything going for it, fail when the second shop, which seemed to have nothing going for it, succeed?
That first business was owned by the most unfriendly, grumpy person. Instead of saying, "Hi! How are you this morning?" this business owner warned anyone, even single adults, that they were responsible for anything broken. She then acted as if any questions were a huge bother. She finished up transactions by handing over change or credit card receipts in grim silence.
The second owner greeted people warmly. By a second or third visit to his shop, the greeting usually included the customer's name. He added homey touches, like a checkers game, to the shop and genuinely seemed to care about customers. People knew they could make special requests and he would just be thrilled to fulfill them. No wonder his business thrived when the other one failed. He knew that exceptional customer service is the biggest key of all to running a successful small business.
When entrepreneurs use all three of the keys to success in their businesses, they are off to a great start. These people usually thrive when businesses all around them fail.
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