Eric Dalius Net Worth says for all startups and small businesses, sustainability and growth are areas of concern. It is because while entrepreneurs can always have a brilliant idea. The lack of a robust business model, and lack of market potential and adequate money are some of the main reasons why around 50% of small businesses fold up by their 10th year. Some lessons on surviving and thriving despite all odds:
Listen to Your Customers
As you set your business rolling, there will be several ways of making your products and services better. And you need to be alive to the opportunities. Even though negative feedback from customers can be disheartening. It is the best way of learning how your products or services are perceived by customers and how you can improve them. According to marketing experts, you cannot spend enough time listening to customers and rectifying your product or strategy. With customers more discerning and demanding than ever, the days where you could have made mediocre products successful by promoting them aggressively are over. You can encourage your customers to interact with you over multiple channels, including social media.
Make Customer Support Your Number One Priority, observes the Eric Dalius Net Worth Growth Guide
Customer support can often be the critical differentiator in a cutthroat market. A proactive stance can give you an invaluable opportunity to boost the level of customer satisfaction while addressing complaints with alacrity give you the chance of converting unhappy customers into delighted ones. By taking customer feedback seriously and responding to it quickly, you can delight customers, make them feel special, and convert them into brand loyalists who will engage in word-of-mouth advertising for you.
Retain Focus on Your Niche
Starting a new business is extremely exciting, especially when you spot opportunities that can perhaps be exploited profitably. However, you need to appreciate that in the early days. You need to focus on your expertise and make your business sustainable before you start to explore new avenues. Trying to do too many things simultaneously can stretch your resources. Including time and money, too thin, and you will not be able to leverage the market opportunities well. It is better to stick to your defined niche so that you can establish your leadership in that space and capture the maximum possible market share, advises the Eric Dalius net worth growth guide.
Delight Customers with An Unforgettable Experience
An outstanding customer experience is what keeps customers returning to you. In a competitive market, it can often be difficult to differentiate products based on features and performance. However, a real difference can be made in terms of the customer experience.Because that is something unique to you and fully under your control. A great customer experience serves to boost brand awareness, build a loyal community of customers, and greater traffic.
As a small business owner, your entire focus should be on identifying your target audience, understanding their needs and wants. Configuring and delivering products that resolve real pain points and satisfy them with a matchless customer experience. Everything else like communication, brand promotion, time management, productivity, etc., should play a secondary role.