When I was in college, I had a roommate who loved to fish.
Near our campus was a city park that had a small lake. On one end of the lake
was a beach where people could swim under the watchful eye of a lifeguard. In
the middle of the lake was a bridge for the footpath that joggers used to run
through the park. On the far end of the lake was a boathouse where you could
rent a canoe by the hour. On one particularly warm day near the end of our
spring term, the fishing itch really got to my roommate and the two of us set
out for the boathouse and rented a canoe. We each tossed a fishing line into
the water and proceeded to lie back at opposite ends of the canoe and soak in
the sun. Both of us then fell asleep. As we slumbered, our canoe began to drift
away from the far end of the lake. In fact, we drifted under the bridge and
ended up at the beach in water that was about thigh high. I just remember
waking up to a group of children who had surrounded our canoe and were looking
down on the two of us – the lifeguard shouting over a bullhorn, "step away from
the boat!”
If you feel like your business is adrift in its own little
boat, you are not alone. It is difficult to find your direction when there are
so many uncertainties about the future. Are we on the verge of another downturn
in an already sluggish economy? What is the federal government going to do in
regards to taxes? What if they decide to do another stimulus? What if they
decide to take over another industry that is key to your business? Should you
hire more employees or downsize your workforce? Uncertainty is the fog that
keeps business from charting a clear course and moving forward… and there is
plenty of uncertainty on the waters right now. How do you navigate all of this?
There are some keys to keeping your business from drifting in these uncertain
times. For the sake of our nautical theme, let’s call them oars in the water.
Oar #1: Relationships matter
For all of our advancement in electronic communications,
here is a very important message: your relationships with people matter more
than your price. There is a shift that is happening in the business workforce
right now. There are generational differences in the way we deal with people.
The retiring workforce from the Baby Boom generation tended to segment life
into categories: work time, family time, time with friends, etc. There was an
emphasis on doing business just as fast and efficiently as you could, which
left little time for building relationships during work time. That was the sort
of thing you did during your family or friend time. Business time was
impersonal. The primary driver during the years the Baby Boomers were actively
running business was price. Think about the businesses that have become big during
the Baby Boomers’ time at the helm of the business ship. Big Box stores
supplanted mom and pop small businesses. How did they do it? It was not based
on better quality or superior customer service (which is all about
relationships with your customers), it was with a cheaper price. Why are so
many of our electronics produced overseas? Because they can be made cheaper
overseas than they can be domestically.
It does not matter that we don’t know the people who produced the
gadget, the relationship does not matter. But the lines that defined the Baby
Boomers’ existence are beginning to disappear. Younger workers do not live a
segmented life. For them, all things are happening at the same time. They don’t
necessarily see a distinction between a friend they will spend time with after work and the customer they are dealing with at work. All of the sudden, the relationship becomes
the driver of the sale. You would be very wise to recognize this and to learn
how to build stronger relationships with your customers, especially the younger
ones that are coming up to take the place of the retiring Boomers.
You may be thinking that sales has always been about
relationships. But what I am talking about goes beyond the normal sales/client
business relationship. I attended a conference a few weeks ago that encouraged
business leaders to become mentors to the next generation of workers. This was
more than just showing them the ropes of running a business – a glorified
internship. This also involved other areas of life, like helping them through
marriage difficulties, giving advice on matters of the heart, finding out about
their financial situation and helping them form a budget. If you are middle
aged or older, that sort of thing might make you uncomfortable, but it resonated
with the younger crowd that was in the room. They welcomed the involvement of
an older man or woman to give them guidance. I bring this up as an illustration
to my point: relationships matter. What one generation considered crossing a
line of personal and business is being welcomed by a new generation that
desires very transparent relationships. And those relationships will be the
driver of commerce in your business.
Oar #2: Merge marketing and customer service
For years, marketing and sales departments have operated
together. It makes sense because one leads to the other. However, the new
reality is that marketing and customer service have to merge. Why? For one, in
these times, you cannot afford to lose customers because they are unhappy with
your products or services. But you also don’t want the world to know that one
of your customers had a bad experience. With the myriad of ways that electronic
interactive media has made everyone’s voice heard, you must try to fix the
problems before the disgruntled customer expresses his disgust to the world.
There is little you can do if something like that goes viral. Social media is
the responsibility of marketing, but there is a huge customer service and
satisfaction component to successful social media marketing. Marketing and
customer service have to work together to follow up with your customers after
the sale to make sure they are happy. In doing so, it gives you another
marketing opportunity. Just as you cannot afford to have an unhappy customer
who walks away from you, the happy client offers you the opportunity to
purchase more from you. If there are ancillary items or services beyond the
initial sale, working with customer service puts you in first position to
upsell your current clients.
Oar #3: We can’t wait on the government to fix the economy
The reality of business is this:
we all can sit still for only so long before we have to move on. For the past
four years, I have talked to many business owners who have held back until the
political situation changed and the economy picked up once again. The reality
is that the political situation is remaining pretty much the same and it is
time we stopped waiting on a government fix to the economy. We have to move on
or we will all sink together. Over the years, businesses have faced very hard
economic times and each time, commerce comes up with creative ideas to row out
of the fog. Are we in an ideal business climate? No, we are far from it.
However, plans have to be made and we must move on. I am convinced that this is
the stimulator for the economy. This is when innovation has to push to the
forefront and ideas of doing things a different way have to be tried. Waiting
on a government fix is no longer an option. We must paddle on.
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Photo
by Isabel Tiessen Pastor