Protecting Your Brand Online
December 17, 2008
Many companies it seems get to a size where they don’t think they have to worry about pesky customers.
They grow through a reputation of customer service and innovation, then “make it” and think they are too big to care about the individuals who buy their stuff. This is where the word “consumer” becomes almost an insult; “We produce, they consume”, like they think of us as a herd of cattle, mindlessly lapping up whatever they throw out to the market.
Of course it is short-sighted thinking. Especially in this day of social media.
Consider American Express. They are closing down accounts of people in good standing, in one case gaining a lot of attention, stranding a man thousands of miles away from home. This, mind you, was one of their better customers. I wonder how badly he would have been treated had he been on their naughty list!
Just a mere misunderstanding, right? Yes, probably, but they want to see his tax returns first, and in the meantime he is going to be stranded with no money for days. Can’t be too careful.
You might be thinking this is just a drop in the ocean. And it probably is, but there is already backlash. People are pulling in their belts, cutting costs, and withdrawing to safe havens. Nobody wants to take a risk. This means that trust premium is at an all time high when it comes to financial products. If American Express gets the reputation of an abusive company people will not hesitate to jump ship.
Bad news travels at light speed. I know because was notified a few times by different people of this story because I co-own a credit card search site so people think I will be interested. Funny, but nobody tells me about the good stories.
Mistakes and problems happen. I have to deal with a lot of bad press for the clients and startups I work with. It is part and parcel of being visible online.
What does it mean for you? Treat customers as you would like to be treated and act fast to put things right when they go wrong.
Where to Start With Going Into Business?
December 9, 2008
One of the problems with starting your own business, even before you get into the actual classic business start-up stuff, is will you actually like it!
This is where many service businesses have an advantage in that you can give it a trial run before spending too much money or leaving your day job.
- Take a designer for example. You can do some side jobs, a logo here, a letter head there, perhaps an ad or a poster for a local rock band.
- Photographers can do a weekend photo shoot then be back at the day job on Monday and nobody might ever know.
- Even if you want to try your hand at retail, you can have a side business of eBay or a small ecommerce store.
Before rushing headlong into a complex, expensive, or risky business, it is worth figuring out on a small scale if the entrepreneurial life is for you while you still have a safety net. Of course many big successes say that they are successful because they didn’t have a safety net, but not everyone has the stomach for that kind of adventure!
Why Start a Business?
December 3, 2008
Why would you want to start a business? What is it that draws people to be entrepreneurs?
In these economically turbulent times people question those of us who go into business for ourselves, but I actually believe it is the smarter move than taking a salaried job. Here is why:
- You can start a business in your spare time, giving you more financial security than just relying on your only employer to not fire you
- Being your own boss means you work how you want to, when you want to
- If you work hard you get the rewards, rather than the layers of management above you
- The satisfaction of creating something and seeing other people get value from it
In some ways there is no better time to start a business!
If you have your own business, or plan to, what appeals to you? Please share in the comments …