Does a Formal Education GUARANTEE Success in Small Business?
Published October 15, 2011 | 
There are many different schools of thought on how a formal education affects your success in life and in business. In Corporate America, an MBA is often the minimal required standard by which C-level employment is considered. When it comes to small business application, a formal education is merely a tool by which you have gained basic knowledge about general topics.
It has been my experience that a formal education is nothing more than a “license to learn” once you enter the workforce. If you plan to enter the world of Entrepreneurship or become a Small Business Owner, you’ll quickly find that your “real” education starts the day you decide to open for business! That’s not saying that a formal education is somehow not important, quite the contrary!
A formal education will give you many skills that the non-educated entrepreneur will need to learn the hard way. Either way, you should know that your thirst for knowledge should NOT stop the day you graduate college or in this case, start your business…
Take Time to Educate Yourself
You started your business because you had particular skills and a passion that set you apart from others in your industry and ultimately led you to become an entrepreneur. Small Business Owners and Entrepreneurs that continue to learn new and innovative techniques to differentiate themselves from their competition are generally more successful in growing their business, than those that offer the same old services that everyone else does. But educating yourself yields far higher results than just being able to offer innovative techniques to differentiate your business.
I have personally been an entrepreneur for over 20+ years and I continue to try to read at least 1 business book a month. You think you don’t have the time to educate yourself, correct? That’s a bunch of crap and you know it. I don’t have the time either…its call multi-tasking!!
Here’s what I do! Unless it’s absolutely necessary or someone is paying for it, I eat my breakfast or lunch alone. I try to build one hour a day into my schedule to go to my favorite deli, sit at the counter and knock out a chapter or two in a business related book. Would it be more fun to read the sports page…probably, but reading the sports page never made me any more money! (Unless of course you’re a fantasy sports fanatic, then maybe I understand) So in that situation, switch back and forth between the book and the newspaper.
I also take my book with me while I’m waiting at the airport, waiting to pick up my daughters from school and most importantly, when I get a few minutes to relax and be alone with my thoughts…I think you get the picture! But educating yourself is a choice, make the choice and see your income soar!! Now remember, my advice is to take the time to educate yourself to learn what new and innovative ideas or techniques can help your business grow and prosper!
I personally live by one of my favorite quotes by Albert Einstein where he said that “doing the same thing over and over again and expecting different results is Insanity”! Learn something NEW; you’ll be glad you did!!
Defining Client or Customer Expectations
Published October 1, 2011 | The other day I was with a client when he turned to me and said, “Hey Case, how can I deliver a project to my customer on time, within budget and meet their criteria, yet they still don’t seem to have that warm fuzzy feeling about my services when the project is over?” “It’s simple,” I said, “Did you meet their expectations?” He looked at me for just a minute and said, “I think so.” So I asked again, “Did you meet every expectation they had?” He then fessed up and said, “You know what, maybe I didn’t. They were always complaining that I did not get back to them soon enough whenever they called me. You know how hard I am to reach, but my assistant was always there to speak with them every time they called!”
Unfortunately, this is such a common conversation for me. It turns out that this particular customer of my client’s was what you would consider “high touch” and no matter how successful the results were with the project he delivered, the customer was just someone that required considerable contact through-out the project from the person they hired and not his assistant. Some people just like to be informed about what’s going on by the person they originally engaged or hired!
Defining Client or Customer Expectations is a two way street and can be as simple as understanding exactly what it is that the customer expects from you as well as telling your customer UP FRONT what you expect from them! I have found the next 3 steps to be invaluable in helping my clients define the expectations of their customers.
1. Do Some Soul Searching – Before you engage your next client or customer, determine exactly where you may have gone wrong with your last client experience. One Example: Did I respond to their needs in the time frame they expected? It is essential that you are brutally honest with yourself here.
2. Define the Scenario – Step back and identify how you can easily determine EXACTLY what it is that your customer may expect from you. One Example: Do you conduct a client interview before the client engages you for your service? If not, consider asking a few key questions. Have you purchased this type of product or service before? If so, what did you like or dislike about your experience with XYZ Company? How could that experience have been better for you? If not, what do you expect from the company you hire?
3. Deliver as Promised – Do what you say you’re going to do when you say you’re going to do it, it’s that easy! Don’t offer something you know you cannot deliver as expected. As the old adage says, Under Promise and Over Deliver! One Example: Did I not return their calls in the time frame they expected? If your voice mail says to “leave a message and I’ll return your call as soon as possible” change the message to say “if you leave a message, I’ll return your call in the next 24 hours”. This way, when you don’t call them back within 15 minutes after leaving a message, they won’t be angry.
A perfect example of defining my expectations as a consumer is with my local fast food restaurant. When my daughters ask me to get them a Kid’s Meal with a burger or some chicken nuggets, I already have a general idea of the experience I plan to have with the service at this establishment. As long as the counterperson is not rude and completes my transaction in a reasonable, timely
manner, I’m somehow pleased. However, if I decide to go out to a fine dining establishment, I tend to raise my expectations considerably and I am not willing to settle for less than stellar service and a pleasant attitude from everyone I encounter at that restaurant. The “fast food” restaurant has done an exceptional job of lowering my expectations to the point I am willing to accept the least bit of competence as a positive experience.
The answer is to establish your client’s or customer’s expectations early in the relationship and reaffirm these expectations often! Educate your client or customer as to what you plan to do, remind them while you are doing it, and once you have completed it, be sure to reiterate that you did it as you had originally planned. If you expect to deliver your project in 30 days, tell your client or customer to expect delivery from you in 45 days, this way, when you deliver in 30 days, they’ll be thrilled. And when you deliver that project earlier than expected, remind them that your delivery is early. Honesty is always your best approach, but establishing your client’s or customer’s expectations in such a way to ensure a quality business relationship is always good practice. Define expectations EARLY and OFTEN! You’ll be amazed at the results!
