Loyal Customers Will Persevere

Being in business for yourself is tough. It gets really hard when you come to realize that you need to make a significant change to the way you do business and this change will impact the customer. Perhaps the change is an increase in price, or a change to the way you extend terms, or maybe your product line has to be updated.

When this happens, owners will formulate what I refer to as SID, Self Induced Doubt. They become afraid to make the needed decision to improve their business practice for fear of loosing their customers.

Loyal customers (and you do have loyal customers, right?) may show some resistance, but that is a natural response by everyone when it comes to change. Astute owners will recognize that loyal customers have chosen them as their company of choice, and hopefully you have nurtured that relationship and demonstrated that you truly care for them as customers. Loyal customers will understand that change is necessary to stay competitive, to continue providing top quality products or services, and to ultimately stay in business.

The trick to successfully transitioning in these instances is to position the change as a benefit to the customer. Give them notice of the change and offer assurance that the change is a good thing for them. Your loyal customers will stand by you, your satisfied customers will complain, but stay, and your unhappy customers may leave. So, am I saying that some customers will leave? Possibly, but those that do were probably problem customers anyway, late with payments, asking for unreasonable service, etc. If they leave, perhaps it will be a good thing. Your company will be stronger for it.

Don't be afraid to change. Without change there is no improvement, there is no progression, there is no growth.

To Your Success -

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Visit www.rgstephens.com to learn how you can receive a free, no obligation consultation. To receive our newsletter go to rgstephens.com/opt-in.php. For information on our e-mentoring program go to rgstephens.com/e-mentor.php. Rick Stephens is a recognized business advisor and consultant. He specializes in working with small to mid-sized business owners to strengthen their business processes and ultimately grow their business. Rick has been accredited by the Institute for Independent Business, an International accrediting body for senior executives. Rick holds an MBA from the LeTourneau University located in Longview, Texas. Rick Stephens is the Principle Advisor of the Consulting firm RG Stephens & Associates located in Plano, Texas. Rick offers business owners the opportunity to meet confidentially to discuss any business issue they may be experiencing. His initial meeting is always free and without obligation. Call him at 972-578-7895

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