Do Business Well

i. Each team member should have a clear, updated job description with well- defined accountabilities and levels of authorisation. However, don’t create rigid reporting systems that will stifle creativity. Promote a culture of participation, innovation and sharing.

ii. Team members should be encouraged to take ownership of their business unit, section or area. They must be encouraged to take total responsibility. In return, you must treat them as partners. Ask them for their input and advice. Consult with them on changes. Involve them as deeply as possible in all aspects of the business.

iii. It has been said that human beings can never get enough recognition. We all hunger for praise, compliments and being somebody special. So honour, respect and stroke those team members who earn it. And do it with sincerity and integrity. Go out of your way to catch people doing something right. Celebrate outstanding achievements. Continue Reading »

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“People are made up of 99% emotion and 1% reason. Take care of their hearts and their heads will follow”

Joy Madison

You arrive at work and turn on the machines – they work away day-in and day-out, producing a fixed quantity at a fixed quality. If they break down, it is simple to trace the problem and fix it. When your machines are old and fully depreciated, you simply replace them with new and improved models.

Your people are totally different – they can be complex, moody, temperamental, unpredictable and often secretive and insecure. They are known to report late, steal, break things, strike, sulk or just go slow. That’s just the way it is. And often it has a lot to do with the way you treat them. Continue Reading »

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12. CULTIVATE ONE OF YOUR MOST POWERFUL ALLIES IN THE DELIVERY OF SUPERB CUSTOMER SERVICE:YOUR SUPPLIERS (OR REALLY YOUR EXTERNAL PARTNERS)

Your suppliers can be powerful allies in the quest for exceptional customer service. In fact, they shouldn’t even be called suppliers – they should be called your external partners.

As you plan your business, identify those external partners who are the best of the breed. Pinpoint those companies who are recognised as the leaders in their fields. And then romance them the way you would romance your customers. Invest as much time and effort as it takes to get close to your external partners. Treat them extremely well. Pay them on time. Let them know what’s happening in your business. Recommend them to others. Involve them in your business. Invite them over for drinks. Buy them lunch. Get their ideas for improving your business. Continue Reading »

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1. SERVICE IS ABOUT PEOPLE: HIRE THE ATTITUDE, PROVIDE THE SKILLS

If you want to offer your customers 5-Star service, look for the desire to please others in the people you hire. Here’s a fact: you cannot change people’s attitudes if they do not want to change. If you hire people who do not have a genuine love of others, you’ll never give it to them. And you will be stuck with non-performing employees who try to drag everyone else down with them. The wrong people won’t deliver the right service.

On the other hand, we believe in hiring potential champions and turning them into real ones. Once you’ve hired the “Right Stuff”, then train them well. Give them the skills both through formal and on-the- job training. Ensure they thoroughly understand your company’s mission and values. Continue Reading »

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2. SET YOUR CUSTOMER SERVICE RULES AND THEN IMPLEMENT THEM RELIGIOUSLY — DESIGN AND EXECUTE THE SERVICE PLAN.

There is an old business saying: Everyone knows what to do, but not everyone does what they know. The basic rule of customer service is very simple: Do whatever it takes to make and keep customers so happy they come back for more again and again. Not difficult is it? We’ll tell you where the difficulty arises: executing that rule with passion, discipline and consistency.

How many companies do you know who provided magnificent service when they started and then faded into mediocrity? Stand guard against this danger destroying your business. Make customer service your personal mission. Drive customer service from the top, but always discuss and encourage your staff to be open about it so that everyone can turn around dissatisfied customers. Continue Reading »

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Take theirbreath away! Amaze them! Delight them!Over and over again.

“A great lover is not someone who has a different partner every night. A great lover is someone who makes the same partner feel like a different partner every night”

Daphne du Maurier

Think back over the last three months and remember a time when a company really exceeded your service expectations. So what do you think? Is this a problem?

Not if you’re a true blue entrepreneur. It’s a massive opportunity! In fact, it’s probably the biggest reason why you’re going to succeed, right? You’re going to introduce a level of service unprecedented in your industry, right? You’re going to amaze, astound and delight your customers, right? We hope your answer is yes! yes! yes! Because great service alone may be enough to give you the competitive edge. All you have to do is to set yourself apart from the herd and lift your service standards well above the norm. Continue Reading »

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Advantages of franchising for franchisees

1. The franchisee will start a tried and tested business concept that has been fully “pilot” tested. Often franchisees do not have the general business management skills or specialised knowledge needed in the proposed business activity. The franchisor owns this knowledge and has the necessary business skills, which he passes on to the franchisee.

2. The franchisor should have developed a long-term strategic business plan including a country development plan, which the franchisee will be exposed to. The franchisor’s strategic vision should provide for the growth and adaptability required for the survival of the brand. A country development plan is the geographic expansion plan that outlines the geographic areas earmarked for expansion, as well as the rate of expansion. The rollout of the franchisee’s store is therefore part of a larger expansion strategy, so the brand that the franchisee has bought into should become more valuable with time. Continue Reading »

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Take great care before investing in a franchise. Under no circumstance should you be rushed into taking up a franchise. This is your life we’retalking about here.

Firstly, you must evaluate your own skills, aptitude and abilities.

Based on the pros and cons of being a franchisee outlined in the previous section, decide whether you will be a good franchisee. Taking up a franchise will impose substantial burdens on both you and your family. You will be required to invest large sums of your time and money (or even borrowed money) in the franchise.

Secondly, establish the areas of business activities that you are interested in. Obtain lists of available franchisees. Continue Reading »

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Funds for Teenagers

As a general rule, growth funds are best for teenagers. They’re riskier than most of the others, but they have the potential to make you more money. An aggressive growth fund could yield 30 to 40% in one year—or lose that much or more. There are plenty of less radical mutual funds that still tend to do much better than your bank account.

Unless you need every dime of your money to spend for college next year, you can probably afford to take moderate risks with your money. No one wants to lose money, but as long as you don’t take stupid risks, you probably won’t lose more money than you can replace quickly with a part-time job. Invest no more than half of your savings in a solid mutual fund. If the fund is risky (potential for big losses), don’t put in more than a fourth of your savings. Continue Reading »

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So far I’ve talked about using savings accounts and CDs to save up stacks of cash. There are lots of other investments out there— stocks, bonds, precious metals, commodities, and many more. Most of these kinds of investments don’t really work for teenagers because they require large amounts of money to get started.

There’s one nonbank investment that works just fine for teenagers—mutual funds. They don’t require lots of money to get started, and they can make your savings grow faster than a bank account. Here’s how they work.

Let’s say you have $500 to invest in something. You could buy 100 shares of a stock trading at $5 per share, but that’s putting all your eggs in one basket. If the stock does poorly, you’ll lose some or all of your investment. Not a good idea. Continue Reading »

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