The Most Important Thing in Business
On the Mats: The Most Important Thing in Business
So, what do you think the most important thing in your business to do – right now – is? Well, come and find out because it may not be what you expect.
Hi all, it’s Nathan McDonald here for another On the Mats episode, and today I’m going to talk to you about 3 areas of your business – and I want you to choose: what do you believe is the most important thing to do? Now, some of you guys might say it’s ‘all of it’, but reality is, at this point in time there’s going to be one thing that’s probably the most important for you to work on.
And let me ask you this question: is marketing more important to do right at this stage, or is sales the most important thing for you to be doing, or is your customer service or operations on how you deliver your product or service to your customers the most important thing to actually do?
And I want you to have a look at this, because working with business owners for as long as what I have, I’ve found that one of the first things that they always go to when things are a bit tough and slow is they immediately go, ‘I want more marketing’. Well, is that the best thing for you to be doing in your business right now? And I want you to have a look at that, most of the time, it’s not marketing. Marketing is actually the last thing that we want to be doing. Now don’t take that out of context; I’m not saying you don’t have to do marketing. What I’m trying to say is: is there a better way to actually help your business right now? For instance, if you are getting 20 leads in and you are only converting 10 percent of those leads, it means you are only getting 2 new customers. Well, hang on – you’ve gone and got 20 leads in; what happened to the rest of them? Why did they not actually buy from you, and do we need to change your sales process? Do we need to actively work on your sales and touch base with old customers that you haven’t dealt with before, because old marketing – or marketing that you’ve done before – has already gone interaction with that. And this is the thing that I want you to actually think about: what is going to give you the best return now? So many people go straight for marketing when reality is, what they need to do is improve their sales.
And then let’s have a look at the other angle: what about how you’re delivering your product? Question: do your customers come back regularly, and if they don’t, why wouldn’t we fix that? You’ve already got existing customers, so there are no more sales that need to be done, there’s no more marketing. Why don’t we actually fix the customer service point of view, or your operations – or how you’re going to deliver your product to your particular customer – then getting them to return over and over and over and over again?
Let’s have a look at a couple of things on the customer service – just a couple of ideas. Imagine a kitchen installer installing a new kitchen organized a professional chef in to come and cook a professional meal for the actual owners of the new kitchen and bring a couple of their friends over to celebrate it. How much does that actually cost? Not very much at all, but reality is, what a wow factor. You know, this is the customer service that you need to be actually looking at. How do you give your customers an amazing ‘oh my goodness, this is awesome; I’m going to talk about it to everyone’? You know, so many of us over-service in our customer delivery but not in the right areas. We always sit there and think, ‘oh, I’ve got to do as much customer service and spend a whole heap of time making the customer happy’ but that customer is not going back and referring on more business. How do you actually bring those referrals in?
So the thing that I want you guys to have a look at for this On the Mats episode is ‘what’s the most important thing to do at the moment?’ and the way I would actually do this is have 3 columns down: right marketing, right sales, right customer service – and now start thinking about the items that you’ve got to do, because these 3 things are the things that are going to bring in money to your business. Think about it; these are the items that bring in money. So reality is we want to try and fix them, and the cheapest one to fix is sales because effectively it’s probably just changing the sales techniques. The next one – or best value to implement after that – is customer service, and then marketing is probably the most expensive that you can actually invest in.
So I really want you to have a look at: what is the most important thing to do in your business right now – and – which one of those areas do you need to fix? I’m going to challenge you for this month to actually go and having a look at fixing one of those things in the next month.
So guys, that’s what we should do. Now, click below – click the link below; that will take us to a webinar we’re having on this. It’s an hour webinar; I’m going to go into a lot more depth about what sales techniques that you can use, a lot more depth on the customer service techniques, and a lot more depth on the marketing. So, click the link below; I’m happy to have you on the webinar. If you are listening to this after the webinar is being done there will be a recording of the webinar so you can find it on the Black Belt Business website.
So guys – go and have that challenge. I’m going to put it to you to have that challenge in place for your business and I’m looking forward to seeing the results.
All right guys, this is enough for me today. My name is Nathan McDonald, I’m an Aussie, my passion is business, and my message is global. Go and have a great day; bye for now.