Guiding you to become the top entrepreneur !

Whatever kind of business you are running you will be dealing with clients and customers at some point, and not all of them will be satisfied and happy with your product or service. Therefore it is important that you are prepared to deal with potentially awkward customers, as this is an essential part of your overall service:
• Listen to your customer – take the time to listen carefully to the reasons why your customer is dissatisfied, as in many cases people just want to have someone to complain to, and once they have aired their grievances fully they will be more receptive to agreeing to a solution. You may also find out important and valid points about your business, product or services which may need to be put right to avoid dissatisfied customers in the future.
• Keep your cool – there is no point getting drawn into an argument with the customer, as this does not benefit anyone, and can make you feel very stressed and upset. Keep cool, do not rise to any deliberate attempts to antagonize you, and if the customer is being abusive to you over the telephone inform them you will put the phone down unless they can talk to you in a more reasonable manner.

If you are setting up a new business it is important you understand the various business structures available, so that you can work out the most beneficial set up for the type of products/services you want to provide:
• Sole Proprietorship – this is a quick and easy way to set up a business and there will be no specific costs related to starting up your business.
• General Partnership – this is another easy process to set up, but you will need to be very careful about setting up the agreements with your business partner relating to the method for sharing profits and losses, how much capital each partner is putting up front and how the partnership will be dissolved if it needs to be at a later date.
• Limited Partnership – this is similar to a general partnership, but the limited (inactive) partner will be protected against legal liability in terms of any costs or debts if the business collapses or goes bankrupt. In this sense the business exists as a separate legal entity, kept apart from those individuals who create and have invested in it.

One of the most important skills in any business is knowing when to delegate. One person cannot do all of the work, and even if you are on a tight budget you should be making enough of a profit to pay the right amount of people to cover the work that needs doing. Delegation will also prevent any one person from being overworked whilst others have nothing to do, and is a key managerial discipline that helps to increase productively and keep staff moral high.

Areas of Delegation
Many people have specialist skills and training, and it is important to delegate work that will compliment their individual skills. For example a good PA will be able to take care of a great deal of the day-to-day office paper work and field phone calls, and can be an invaluable asset to any business leaving managers free to deal with other important issues such as setting up new accounts and dealing with clients and suppliers.

Discounts and special offers can be powerful marketing tools to encourage new customer to buy products or services from your business, and they can also be used to improve customer loyalty. However it is important that you balance discounts with profits, as there is no point working to a continuous loss.

So for example instead of offering discounts on all of your products, you could choose those which are not selling so well for special promotions, as this will not only help to boost sales and move stock you have had hanging around, but it will also leave your more successful products at the full price, continuing to bring you in a good profit.

You could also think about only offering discounts when clients sign contracts with you, as this is a good incentive for them to commit themselves to your business for the long term, and can help to guarantee you work well into the future.

It is very important in business to maintain a professional image, and this will help you to deal quickly and efficiently with both customers and suppliers. Here are a few top tips for how to present a professional image:
· Dress appropriately – if you are going to meet clients or suppliers then make sure you dress smartly and in a business-like fashion, as you will be physically representing your business and it is important to make a good impression.
· Business-Like Attitude – don’t allow yourself to become distracted by personal issues, and when you are at work try and leave your problems at home. Never take out worries and concerns on your colleagues, clients or suppliers and even if you are feeling tired or distracted keep your mind on work and maintain a polite, attentive attitude.
· Business Premises – if you have an office at home it may not be appropriate to arrange meetings there, especially if you have young children as this can not only be distracting but does not present the most professional image, so try and arrange meetings at a more neutral venue such as a business lunch in a local restaurant.