5 Killer Mistakes – Part 2
In the last post we covered the first two of the 5 biggest mistakes you can make in dealing with big fish clients. Today we’ll cover the third and fourth ones: Taking on More Than You Can Handle and becoming over dependent on any one.
When you take on too much, your business can’t keep up and therefore you can easily lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to have a plan for how you will handle the growth. Your clients expect great customer service and highly quality products/services; they don’t know or care about your behind the scenes operations to get those things done.
Look for these signs that you are taking on more than you can handle:
- Clients’ needs aren’t being met.
- Employee morale is low, clients are upset and you’re in a panic.
- You have to react in emergency mode to save accounts.
- Your current clients are suffering from trying to keep up with new business.
- Profits are going down.
- You are just trying to pick up the pieces of your business.
- Your clients/customers leave.
- Resources are being reallocated.
There a trick called the Mock Fish Plan. This plan can help you react positively when you are facing some or all of these things and help you get your business back on track. This plan will:
- Help increase sales in a short period of time.
- Alter your products/services for the better.
- Fulfill promises you made to your clients.
There are six steps to this plan:
- Bring in your best team and have them all help to meet the fish needs.
- Review your operational system.
- Anticipate future problems better.
- Communicate better.
- Include costs in your quotes.
- Always have a back-up plan.
You can allow your company to become dependent on any one fish. Eventually or for certain periods there is going to be a slowing down period with your fish. In order to stay in the game you need to diversify.
If you’ve ever mishandled a fish, you could drive away potential fish as well. In order to keep balance and prepare for a strong future, there are a few things you can do.
These things include:
- Stay in the loop and try to know what’s going on inside your fish company.
- Constantly reinvent yourself and stay at the top of your industry.
- Stay exclusive.
- Try to secure multi-year commitments and contracts.
- Spread your contracts out.
- Price your products/services correctly.
You also need to work to reduce your dependency on your fish. This can generally be measures in sales or profits. Take a look back at the process we’ve used thus far to snag more fish to keep this all in balance.
These are the ways you can help avoid the killer mistakes that can make you lose it all. If you need help with any of these tips or tricks, try our FREE test drive to get the help you need fast.
Next week we’ll talk about the last of the killer mistakes and how to combat it from hitting your business hard.
Until the next time.
Vernon Simpson, Nydes Business Coach,
Coaching Business Owners and Executives to their next level of Excellence
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The move paid off. Today, Sabae has over 100 companies that collaborate to make pairs of glasses.
Though these studios use cutting-edge machinery to produce new frames made of metal and acetate, most stages still require the skilled hands and trained eyes of Sabae’s master artisans.
That includes Takeshi Yamae, a frame designer with Japanese brand Boston Club who has lived in the city for 17 years. He tells CNN one pair of glasses can involve more than 200 steps.
“I first design it, sketch it, then put it into my computer,” he says. “From the time I start designing, to the time I have the perfect product, it takes more than a year.”
ArthurRat said...
How a drab Soviet metropolis became Central Asia’s capital of cool
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Several cities around the globe have reinvented themselves in recent years, but none more successfully than Almaty.
Since the collapse of the USSR, Kazakhstan’s largest city (population 2.2 million and growing) has evolved from a drab, run-of-the-mill Soviet metropolis into the urban star of Central Asia.
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Along the way, the city has developed one of the world’s most beautiful metro systems, grown into a thriving banking and finance center, complemented its vintage bazaars with luxury boutiques and modern shopping malls and reshaped its traditional gastronomy into a nouvelle cuisine that’s drawing raves from foodies around the world.
Almaty is also evolving into the cultural and artistic hub of Central Asia. It’s already got several world-class museums (including a “secret” underground collection that doesn’t even have a name) and a dazzling new cultural center slated to open early next year.
“It’s an incredibly livable city,” says long-time American resident Dennis Keen, a historic preservation advocate and founder of Walking Almaty.
“Green and clean. You don’t need a car. The public transit here is fantastic. And it’s very much the center of contemporary art and dining in Central Asia.”
Keen adds that whenever he tells someone back home that he lives in Kazakhstan, “Borat” inevitably comes up. The movie’s title character doesn’t paint a very flattering portrait of the Central Asian nation. But nowadays one is tempted to think that if Borat visited Almaty now, he would say, “Very nice!”
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Alhaji Abdoulie Jane Senghore, JP, Director of Posts and Communications.