Business Management

A business needs customers - without them, the business would not exist. It is therfore logical that a business needs to look after their customers - before and after a sale.

The bad news:

While this is easy to comprehend, the following factors make the business of customer management difficult are the following:

• Customers tend to switch vendors as they are exposed to a incredible amount of competitive marketing - radio, TV, mail, email, fax, www, blogs, chat, video - and the Internet is becoming the vehicle for delivery

• Competition is now global - what you are offering is available at a lower price and perhaps even at better terms either from your immediate neighbourhood or even across the continent

• The big gorillas - larger, corporate competitors are now perched on your turf trying to lure your prospects and customers away

The good news:

Customers prefer to buy from suppliers and vendors who have the following key differentiatirs:

• Business processes are known, documented and consistent across the vendor's organization

• Existing vendors and suppliers are preferred
  

• Vendors who educate them not only about their products and services - but also help them market and sell better to their end customers

• Regular touchpoints - Keeps in touch with their customer regularly - meetings, newsletters, emails and other communication
  

• Responds not only to regular support issues - but unexpected and urgent problems

Foundations of an IT based business management system

The objective of every enterprise is to prosper by retaining existing customers and attracting new customers. To achieve this, you will need a business management system.

• Process, process, process - business process the key to successful business management. Sales, support, marketing, administration, management, manufacturing, logistics - no one should be exempt from the business process.
  

• Every employee in the company has a clearly defined scope of work which is in consonance with the business process

• Can consistently perform, verify and document every touch point with the customer

Once a small business reaches critical mass such as $3M+ revenue, 3 to 5 sales reps, and 100+ customers, it becomes difficult to manage without a good IT business management system. Without IT, the business is not optimizing it's potential both in revenues or profitability.

Now that the basics of business management have been stated, the next step is to learn how to define and structure your business process ....click here for the next segment