We’re continuing with an overview of some of the checklists that are contained within our “Survival In Difficult Times For SMEs” Workbook which we can use to analyse your business to ensure your business’ survival. Last time we looked at considerations for a Financial Review and a Cashflow Review. Now let’s consider some questions about customers and team members…
Market And Customer Review
• Review marketing expenditure – Is the expenditure directly targeted to achieving sales in the prevailing market?
• Review your unique selling proposition – Are you delivering outstanding service to your customers each time you deal with them?
• Review what is happening in your industry – What market opportunities are emerging from the downturn?
• Demonstrate a “can do” attitude to the market. The downturn will not last forever. Can you get increased market share in the downturn?
• Analyse your market and customers – Can you offer inducements to them to increase frequency of visits, value of average sales, and attract new customers?
Team Members’ Review
• Have you reviewed salaries being paid to team members compared to salary packages for similar positions being offered by competitors?
• Could there be an improvement in team member productivity?
• Have you discussed productivity with the team members?
• Have you empowered team members to make decisions, to enable the business to meet and exceed customer expectations?
• Do you ask team members for suggestions?
• Do your team members have “an amazing attitude” to enhance the business’ reputation?
Survival in Difficult Times
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This post is part of the “Survival in Difficult Times for SMEs” series.
Be sure to read the other parts of the series for a clearer picture. You can follow the series along on the blog or read them first by subscribing to our popular Business Plus+ newsletter.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 811 awesome articles for us at Alan Lewis Accountants – BLOG
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