Big-box chain stores are unavoidable. In this poor economy, people are more often flocking to these giant faceless retailers in an attempt to save more of their hard earned dollars. Unfortunately, the result of Americans tightening their belts means the end of some small businesses. The businesses that fail make three common errors that effectively drive the nail into their own coffins. Businesses that fail to understand their strengths, their customers, and their competition will almost certainly fail themselves. Using the example of a flooring retailer, we will consider how to ensure survival in tough times by avoiding these mistakes.
Our store offers a good selection of high caliber carpet, hardwood floors, area rugs, and laminate floors. This is logical because it is a flooring store. If our proprietor, Bill, decides that he wants to start offering double hung windows, then the focus has shifted away from the company niche, flooring. It is important to understand what your business does well and maintain a commitment to that. Do what you do well, and customers will notice the high caliber of service.
A single mother of two young children pulls up to the store in an old station wagon. She is inquiring about some replacement living room flooring because her son lit her carpet on fire. Equipped with this information, attempting to steer her toward fine Brazilian cherry hardwood floors would not be wise. It is always important to understand what a client wants and be able to meet their requirements. This happy customer may walk out with her carpet, but return later and be ready for the Brazilian Cherry. Treating customers with respect and having the ability to anticipate their needs is an invaluable resource often not available from competitors.
The hardware store chain down the street is offering free financing for 6 months plus low priced, but shoddy installation. However, their sales staff is inexperienced with the flooring and their customer service is below par. Armed with this valuable information, a small flooring store can use this to their advantage by offering excellent service, comprehensive information about the products offered, and quality installation in a timely manner. following a good experience at our store, a satisfied customer will report to his or her friends that they were pleased, ergo, achieving the goal of word of mouth marketing.
Tough times come upon everyone, however it is important to hold fast to quality in all things. Businesses devoted to excellence will achieve great things and keep their doors open when the others close.
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