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Respect
for the past, Strength for the future. |
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Economic
Development In Tough Times As the Executive Director of Hillsboro Development Corp and Hillsboro Ventures Inc., I get excited when I see business in our area doing some new and innovative things to stimulate economic growth. We are facing tough economic times particularly on a national level. Now is not the time to just tread water while waiting for things to turn around or for someone to hand us a “bailout” plan. Kudos to Joel Klassen and a group of business sponsors for putting on the first annual Buyer’s Edge BIZ EXPO that was held on the Bethel College campus February 12.2009. This was a fantastic example of doing more than treading water while waiting for a rescue boat. The Buyer’s Edge BIZ EXPO was a free, day long event open to business men and women looking for some encouragement and they were not disappointed. As you entered Memorial Hall, the entire room was surrounded by exhibitors representing businesses ranging from financial institutions, printing and advertising companies to geothermal heating and air conditioning. On one side of the hall was free food for all attendees all day long! In the center were rows of tables making it a giant seminar room where we heard Tim Smith, a Pennsylvania business consultant, give high energy, entertaining presentations leaving all of us saying, “Wow, that was great”! Tim’s morning session was entitled, How To Retain And Increase Your Customer Traffic In Tough Times. The afternoon seminar was entitled, How To Thrive And Survive In Challenging Business Times. Every business in our community could have benefited by taking in Tim’s sessions. Most of what he said was common sense but often times when under stress we need to be reminded to go back to the basics. To survive and even thrive in tough times businesses must RESPOND not just REACT. To react to the market means you are running scared; to respond means you are taking control of the situation. We learned about the “Seven Eleven” rule. In the first seven seconds, someone walking into your place of business will make eleven observations. To survive in tough economic times those observations MUST be positive. Tim went on to give us eleven things people are looking for when the come in to do business with you. Most give you their top ten; we got more than we bargained for. Frankly I was interested and a bit surprised what made the list. According to Tim, people are looking for: 1. Knowledge – People want to know something about
the product that they didn’t know before. To have an edge you must
know every detail about what you are promoting. 3. Helpful – When someone calls they are looking for help. If you are able to help they will call again. 4. Value – Value does not necessarily mean price. You need to know what sets your product apart from the others. Why should someone pay the price you are asking? As an owner, or employee, are you able to add value to your product? 5. Ease of Access – How accessible are you to your customers? Do you answer emails and phone calls in a timely manner? “I guess they don’t really need my business.” 6. Ease of Transaction – How long will it take to do what I came to do? Have you ever noticed how easily and quickly you can go through the drive-thru at a fast food restaurant and pay by credit card? 7. Clean – What do people see when they look around? “I may not see clean but I sure see dirty”. What do your facilities look like, how about your car, or your town? You are a walking billboard for your business and community. 8. Responsiveness – Keep the customer informed. “I really don’t like it when the traffic is slow but if I know why, I can deal with it.” Tell the customer up front it will be a 45 minute wait. “I’m tied up now but I will meet you tomorrow at 10 AM sharp,” 9. Credibility – “Can I trust you? Does he do what he says he will do?” 10. Confident – People want to deal with someone who is confident (not arrogant) about the products and services they provide. 11. Professional – Whether we like it or not, people are watching you no matter if you are on of off the job. You can do twenty-five things right and one thing wrong and what do people remember? Always be positive! Tim challenged us to take a look at how we were doing as owners, managers and employees. He ended by posing this question. “If you had to reapply for your job today based on the performance of the last six months, would you get the job?” Joel has invited Tim Smith to be back again next year
for a two day event to be held February 12 and 13, 2010. One of the days
will be right here in Hillsboro. Mark it on your calendar; it will be
a packed house!
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