The Ten Commandments of Customer Service

The Ten Commandments of Customer Service

Written by Ken Wright http://www.thepeoplepill.com/

Customer service is so instrumental to the success of any business I would like to share my thoughts with you on this subject.

When I became CEO of Westpac Financial Services in 1994 my first “Contact Point” column in our monthly staff magazine focused on customer excellence.

I reminded our team that customer excellence, that is, the attainment of raving advocates, will be the key to our ongoing success. It will become what differentiates us from our competitors. I also reminded them that if they felt they were providing superior service currently, to remember the old adage, “You don’t have to be ill to get better,” as a poignant reminder of our obligation to the pursuit of customer excellence. I then provided them with “The Ten Commandments of Customer Excellence.” I feel these points remain relevant today, and so I have modified them from their original focus on providing financial services advice to being generically applicable to any business.

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Most Trusted Professions Poll

Most Trusted Professions Poll

This month, July 2010, Readers Digest has once again released its annual findings of the most trusted professions voted by Australians. The Top 40  results are very similar to previous polls and probably as expected. Leading the way of the most trusted professions are Ambulance Officers, Firefighters, Nurses and Pilots. No real surprises there I guess although Doctors at Number 5 may be under pressure in the next poll if the events of this week are any indication.

At the other end of the list the names once again remain fairly familiar. At 40 Telemarketers came in last in the most trusted profession followed at 39 by Car Salespeople and Politicians in at 38. Ouch, that’s got to hurt being a telemarketer or car salesperson and being voted behind Politicians. At 37 comes Sex Workers just edging out……you guessed it, Real Estate Agents at number 36.

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Financing your own Real Estate Agency

Financing your own Real Estate Agency

Financing your own Real Estate Agency – By Nick Dowling, Macquarie Bank

Thinking of starting up your own real estate business? Here are some tips for getting a business loan.

Financing growth in the early stages of any business can be a challenge. Most likely you will need to contribute an amount of personal capital and, if borrowing is required, security is generally needed in order for a bank to lend money. The decisions you then make in formulating and executing your business can impact your ability to borrow money to grow your business down the track.

For start-ups and real estate businesses in their early stages, it is important to have a clear picture of how you plan to grow your business, including what role you envisage property management will play.

Banks usually treat rent rolls and residential and commercial properties as security. Some banks will look at the rent roll only. Despite the fact that the sales component of your business might initially generate the majority of your revenue, it’s rare for banks to lend against this stream of income as it’s generally less predictable and more susceptible to downturns than property management.

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Preparing Your Business for Sale

Preparing Your Business for Sale

Often when an owner rings me to sell, it is because they have to sell. The reasons can vary from health reasons to financial reasons or other personal situations, but in most circumstances little time has been put into preparing the business for sale.

Usually our entire commitment has been to function as best as possible and simply survive, there’s been no time to think about the last resort of having to sell.

However, preparing the business has so many benefits including financially through a higher sales price, a faster process to settlement, better management of the retention process and an improved customer relationship for your clients with the new owner.

One of the most common questions I am asked is “Do we need to provide a profit and loss to the buyer?” If you are selling the business, in other words, a buyer is taking on the expenses of the business such as leases, equipment, staff and/or their wages plus other business running costs, they will insist on a P&L to ensure its viability. You may be prepared to take no payment for the business and be happy just to accept rent roll value but a buyer will still need an accurate P&L report. The buyer’s solicitor, accountant and bank manager will insist upon it even if the buyer doesn’t.

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6 Reasons A House Doesn't Sell

6 Reasons A House Doesn’t Sell

With the changed market conditions to a strong buyer’s market it was interesting to read Michael Matusik’s June newsletter.

In his newsletter he says:-

“House sales across South East Queensland are down about 50% on last year. There were just 28,000 sales during 2010/11, compared to 41,000 the year before. This magnitude of decline was widespread, with no area being spared the pain. In contrast, the amount of property listed for sale across the region has increased, and by as much as 30%, on this time last year.”

Michael went on to provide the reasons he believed a property doesn’t sell in today’s market. Reviewing these points and your businesses strategies to deal with these issues individually may give you the edge necessary to improve sales. It may even be worth printing out and using in your listing presentation or vendor meeting with a seller. Read more