Business Partnership: Is It For Me Or Not?

    There are many articles out there as well as videos that discuss this topic. Some say that you should have partners in the business and others say that it is a bad idea. Obviously, the decision to have partners will be up to you and need to be a decision that you give a lot of consideration to. This article will talk about some of the important considerations you should have when making this decision.

#1: Are You Disciplined Enough To Handle Things On Your Own?

   Remember that working on your own involves you having to take on multiple roles by yourself. This includes business management, business marketing and sales, as well as managing the finances. This will prove to be an incredible set of tasks if you are not disciplined enough. Having a partner or partners in this situation proves to be a double-edged sword. On the one hand, they can help you split up these tasks to make running the business easier and possibly bring in more profits. On the other hand, you may decide that you want to take control of these aspects of the business because you have a better vision of how to run things, or you may not trust your partners, which brings up the next point.

#2: Can You Establish Trust In Working With Others?

     This is probably the biggest issue with concern to working with others. It is hard to establish trust in any other person working with you for a variety of reasons: 1) they could steal your profits, 2) they might decide to run the company in a direction you are not comfortable with, or 3) they could end up leaving you with most of the work even while making the same money you are. These are some major considerations you must have when deciding on a partnership. It would take an article or many articles in order to suggest some methods for choosing a partner for your business, but it is important to have some way to address the issue of trust before making the decision to have a partnership.

How To Handle An Adverse Situation With A Customer

      It's a necessary evil in every business: the complaining customer. Unfortunately, it would be suicide for the business, especially the small business, to ignore the complaining customer since the customer can give negative reviews about the business and steer others away from it. Fortunately, there are ways to deal this kind of customer in a manner that will not only solve the problem, but may enhance the image of your business.

#1: Make Sure To Compensate The Customer For Their Troubles

      It's never enough to simply fix the problem. Sure, the customer's problem has been solved, but the customer should never have been wronged in the first place. The customer needs to feel special in order for his/her to feel that the owner really cares about that customer. Ask yourself, if you were the customer and you were wronged, would it be enough for the owner to simply solve the problem?
Compensation can take many different forms. It might be saying that the product and/or service is on the house. It can also mean a coupon for a free product and/or service for a specified period of time. Whatever the form of compensation, make sure it is a reasonable one such that it will not hurt the business financially or make other customers complain, but a compensation that the customer will not feel dissatisfied with.

#2: Use Social Media As A Means Of Apologizing And Illustrate The Lesson(s) Learned

      Social media for a business is often a double-edged sword. It can help your business grow if used the right way, but it can also destroy your business if used in the wrong way. But, there is one way to use it to your advantage in the wake of a customer's complaint. First of all, you should always use social media as a means of apologizing, especially because your customer may decide to use social media as a means of complaining about the incident, even after you have fixed it. Apologizing shows that you are human and shows that you understood that you made a mistake and that you did what you could to fix the problem.
       It is also advisable to write about some of the lessons you learned from the incident and what you plan to do to address the incident so that it does not happen again. Writing about the lessons learned demonstrates to your customers that you have a commitment to improving the business, which you must have if you want your business to succeed. It also shows that you have a strong commitment to learning, which is also important for success. It is important to sit down and take some time to reflect on these lessons before writing them down.

The Importance Of Honesty In A Business

      We all know the importance of honesty whenever one conducts business. We also know the consequences when one chooses to be dishonest in their line of work. The consequences range from bad reviews to lawsuits to possible closure of a business. This article is not meant to discuss the negative consequences involved with being dishonest. Instead, this article will talk about two positive consequences involved in doing honest business.


#1: Even If You Don't Get Your Prospective Customer, He or She Could Recommend Other Customers
    
      One of the hardest parts about being honest is the possibility of losing out on a customer you are trying to get. It makes you question the motive and incentive to be honest with future customers. Yet, one has to understand the power of word of mouth to understand the importance of honesty.
It is very true that when one is dishonest with a customer, that customer will tell other customers about your dishonesty and that could really ruin your business over time. Conversely, a prospective customer, does not have to buy your product or service in order to spread the word about your business. The business runs through you as you are the business. The customer sees and evaluates everything whether or not they make a purchase. If they like you, they could recommend others to try out your product or service.

#2: Doing Honest Business Is The Best Way To Get Honest Feedback
   
         Criticism is always a hard thing to take. Whether it is answering a question honestly or admitting that you don't know the answer to a question, the end result can be undesirable. Nonetheless, it is better to take the criticism as a chance to improve upon the business and make it better.
Feedback comes in two types: the kind that others give to you and the kind you give yourself. When you answer questions honestly or admit you don't know the answers, you can expect the customer to respond in an honest manner. The key is to take that response and use it to help grow your business. Whether it means that you make changes based on your customer's response or whether you take steps to find out the answer to the question in case a future customer asks that question, it's always important to take each piece of feedback and build it into something positive. But, you have to do honest business to get the honest feedback you need to get better results.

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