Pierre Courchesne on the Importance of Customer Service

The Importance of Customer Service According to Dr. Pierre Courchesne

Many companies are struggling with their bottom lines and looking for some way to improve them. They often gravitate towards technology or gimmicks that they believe will be a shortcut to financial success, but these newer techniques pale in comparison to the effectiveness of good customer service. This practice cannot be implemented overnight, but at the same time, it is not impossible to achieve. Companies simply have to be careful and diligent in order to implement a regime that respects the customer.


Low Costs

Customer service is one of the most cost-effective ways for a company to bring in more revenue. Almost every approach to raising revenues costs a significant amount of money up front. Marketing, capital improvements, and large expansions in a workforce can cost thousands of dollars. By contrast, customer service is something that can be improved significantly with the on-the-job work training that a company is already paying for. 

Good customer service cannot be bought and implemented immediately like a form of accounting software. Individuals have to work at it and be given positions where they can implement its tenets. While the process does take a significant amount of time, it will always provide positive results over the long term if it is successful.


Repeat Customers

Customer service is also important because of its ability to gain repeat customers. Repeat customers are essential for companies to expand and make the most out of their marketing and training dollars. These customers provide much more revenue than customers who only shop at a business one time. Repeat customers make up the vast majority of companies’ profit margins. These individuals can be enticed to come back with positive customer service. Individuals look forward to seeing clerks and other employees who provide them with a high level of customer service. 

They may start to see these individuals as friends. High levels of customer service are not universal and can easily place one company above many of its competitors. This trend has accelerated in recent years with the rise of online shopping. More and more in-person companies have to prioritize customer service because they know they will not be able to compete on price with the world’s online shopping juggernauts.


Customer Loyalty

Repeat customers are different from loyal customers. A loyal customer is often so swayed by good customer service that they will continue to stick with a company despite any problems that may occur. All companies will go through certain situations that force them to harm their customers at least to a certain degree. Companies will raise prices or shut down for a short period of time in order to conduct repairs or renovations. 

Great customer service will keep individuals coming back to a company, or a firm like that of Dr. Pierre Courchesne, even during these down times. Individuals will start to develop a personal relationship with a company. If they do not shop at that company, they feel as though they are doing a disservice to a friend or relative. This attachment is greater than any possible market pressures. It can push a customer base to stay loyal through circumstances that would cause the average individual to leave almost any other business.


Conclusion



According to Dr. Pierre Courchesne, companies that believe they need to improve customer service must take action as soon as possible. Managers and owners need to hire a consultant and pick up new approaches to training and hiring. Most importantly, these individuals need to make it clear to their employees that customer service will be a priority for the company moving forward. Companies have to be careful and start working quickly if they hope to reap the rewards of good customer service as quickly as possible.


Truman Advisors Share the Differences Between Good Debt and Bad Debt

Loans have helped many to improve their financial position, while others have fallen into deep problems due to the same loans. While it is possible to live an entirely debt-free life, avoiding loans can hinder your ability to own your dream home or car or start a business that could positively change your life. Therefore, a loan can both be a good and bad thing at the same time. The main difference is the reason you are taking out the loan and how you put the money to use after acquiring it.

The first thing to do is note the differences between your wants and your needs. In this case, if you borrow money to cover for your needs or buy things that appreciate in value, then that’s good debt. If you borrow to cover your wants or buy things that depreciate, then that’s bad debt. The following examples of both good and bad debt will give you a clearer distinction between the two.

Good Debts 

1. School Loans

Using a loan to pay for your education is good debt because once you acquire your academic degree, you will be able to earn more money in your lifetime. It’s something that qualifies you for a certain job over those who lack such qualifications. Therefore, borrowing to pay for your education or child’s education is rarely a bad decision. 

2. Home Loans

Being a homeowner is commendable. Unfortunately, not everyone can afford a home at the moment, and while taking out a mortgage loan may be daunting due to the size of the loan, this is typically a good decision. Truman Advisors argue that rather than continue paying for rented housing, that same money can be put toward a home loan and be used to build equity. A mortgage is a good example of good debt and can be a smart financial decision depending on your unique situation.

3. Auto Loans

Some people’s lives are more convenient with their own car, especially when public transport is not available or is unreliable. Buying a car often becomes the only option, and if you cannot afford it, you will be required to take out a car loan. An auto loan can be both bad and good debt. The deciding factors are the type of car you buy and the way that it’s used. A used car with low miles that helps commute to work and make a better living is good debt, while a new Ferrari used to drive to the mall is bad debt.


4. Business Loans

They say it takes money to make money and this is why in most cases borrowing money for business is justified. However, make sure that you borrow with a good plan and have great business prospects so that at the end of the day, the business generates more income than the initial expense. According to Truman Advisors, a business loan is good debt if, and only if, you are purchasing or paying for something that brings more money to the business. 

Bad Credit 

1. Loans for Discretionary Expenses 

Taking out a personal loan to be able to pay for vacations, buy expensive clothes or jewelry or any other discretionary item is bad debt. You should either save for these things naturally or wait until you can boost your income, but never borrow. 

2. High-Interest Credit Cards

Credit cards provide their holders with the ability to make purchases anytime they choose, regardless of whether it’s a need or a want. This freedom of spending using borrowed money makes credit card bad debt. Unfortunately, almost every American has a credit card, and it makes them feel like it is easier to afford an item using a credit card than using cash. The bad news is that it is hard to get out of credit card debt and it is better if you do not acquire it in the first place.

3. Payday Loans 

Most companies that provide payday loans charge excessively high interest rates because they know many people are desperate for cash. Truman Advisors says that you should be very careful because paying off these loans becomes very difficult. A payday loan is one of the worst forms of bad debt, and even if you desperately need a short-term loan, it is better to exhaust all other options rather than relying on such companies. 

You will more than likely find yourself borrowing at some point in your life, and it is good you understand the difference between good debt and bad debt. Watch out to avoid falling into deep debts that could have been avoided in the first place. 


How To Build A Successful Sales Team According to Joseph Vessecchia

Having a successful sales team can translate to great success in your business. However, creating and building such a team can be overwhelming at first glance. You will need to ensure that you have quality products and services first to boost your sales team’s confidence when showcasing your brand. You will need to build and scale your team at just the right time to ensure you can keep up with deliverables and aren’t falling behind on revenue. The right time includes when your product is already getting positive feedback in the market, when the demand on your own time is too high to handle it alone, and when you are sure you can afford to meet the salespersons’ costs. Now that you are ready to build your own sales team, here are some of the tips that you can follow and build your desired team. 

1. Determine Your Goals in Building A Sales Team

If you do not have a well-defined plan for your sales team, you might find yourself hiring in an unaligned fashion and end up failing with your efforts. Therefore, first determine the type of team that you need and what each team will be doing for your business. You could be looking for field people, inside salespersons or both and unless you decide on this from the beginning, you might end up compromising your decisions. Also, understanding which size companies you’re selling into (i.e., SMB, Midsize, Enterprise) is also key. Software salesman Joseph Vessecchia says that when you are sure of the deliverables you want from your team, it will be easy to prepare the resources, processes, and support they will need to deliver their work efficiently.

2. Hire The Right People 

Once you set your goals for your sales team, use the right hiring process to ensure you get the right people to work with. They say the biggest asset in the success of a business is its employees, so make sure your staff is working for you, not against you. If you are confident about your hiring process, go right ahead and follow it step by step. However, you can also rely on a reliable recruitment agency. To make sure you get the best of the best from such an agency, provide them with information about your business, and it will be easy to match your needs with the proper staff. Once you have the right people, you will be good to start assigning different tasks according to their skills and capabilities.

3. Train Your Team Thoroughly and Motivate Them to Do Better 

If you want perfection at work, train your sales team not only after they join your company but throughout their tenure. This will keep them updated and equipped with the new trends in the industry and in turn help your business remain relevant despite the changing times. Also, plan to motivate them in different ways to make sure they feel appreciated and wanted in their jobs. For instance, you can introduce bonuses when one hits a certain target, have games especially during your training and reward those who do well in a certain task. This will encourage them to attend training programs without fail. Finally, practice fair compensation for your team before someone else promises a better deal and poaches your best talent. 

4. Provide the Necessary Resources

You cannot expect your team to perform well if you cannot provide them with adequate resources for their work. If it’s the field salespeople, provide them with either transport money or company cars to be able to move around conveniently. When they need promotional items for their sales campaigns, do not start complaining about the costs involved without knowing the reason why they are required. Be willing to compensate for call charges used by your sales team or provide them with company phones to use when contacting clients. If you tend to limit this, they will reach out less to save their money—I’ve seen this happen. You need to make your team as comfortable as you can to make their job easy, and you will certainly reap the rewards.


5. Encourage Creativity and Be A Good Communicator 

Different people view things differently and sometimes your perspective is not the best or only perspective. It is good that you listen to your sales team’s ideas before assuming that you know everything about your business and the market. After all, these people spend more time with customers than you do sometimes, and they tend to get exposed to a lot of new people and new ideas. According to Joseph Vessecchia, encouraging creativity is another way of motivating employees because they will feel valued every time their opinion is considered. Having good communication skills is very important in business and also in personal relationships. Communicate your goals clearly and be a good listener. People will trust you more when they can converse with you freely and feel like you truly care. There are many tactics you can implement when trying to build a strong and successful sales team. However, take your time and follow these simple steps as guidance once you are ready for it.


Melvin Brewing

Melvin Brewing Says, Enter The Boil Rumble

Melvin Brewing

If you think your homebrew club is the best, and you want to show it off, then the Melvin Brewing Boil Rumble is for you!

All six finalist clubs will then go head-to-head at Homebrew Con in June 2019. The winning club will receive a MoreBeer! Brewsculpture, get their beer released in cans nationally, and be part of a BN podcast highlighting their winning beer. 10 of your club members will also get free entry to Great American Beer Festival and pour at the Melvin booth.


Roseland Associates Personal Finance

Roseland Associates Explains the Basics of Personal Finance

You may be surprised how many millennials (or even baby boomers) do not understand the basic principles of basic finance. However, it is not just millennials who are suffering from a lack of knowledge of personal finance. There are millions of people out there who find themselves living paycheck to paycheck each month. They are unable to live the lives that they want to since they are burdened by financial debt. This lack of information that was not taught in public school has done incredible amounts of harm to those who wish to live the best life they can. Fortunately, we have some information on financial planning 101 that will help you gain control of your life and live debt-free.


Budgeting

Americans are incredibly impulsive whenever it comes to purchases. The positive emotions that come from purchasing something can sometimes be overwhelming. We do not think clearly when we overspend on our budget each month. However, the key to financial freedom is effective and consistent budgeting. You need to be able to control your financial impulses before they control you. Create a monthly budget and stick to it no matter what. You will thank yourself in the long run for your dedication to financial discipline.


Cutting Out Unnecessary Expenses

Although budgeting is important, one could argue that cutting out unnecessary expenses is even more important. Luxury expenses such as a coffee and fast food can really harm your wallet each month. The best thing to do in this situation is to take a good look at your spending patterns and identify any unnecessary spending each month. Think long and hard about the items that you are spending money on. Are they absolutely worth it? Can you live without it? Your answers will help you determine the best financial course of action going forward.


Paying Down Debt

Most people around the world will go into debt at some point or another in our lives. The cost of living is rising rapidly, and some people are forced to take out loans just to survive. Fortunately, there are services available that can help you pay down your debt. Companies like Roseland Associates consolidates your debt into one convenient payment schedule at a reduced rate. This will help you put your focus into one singular debt and will allow you to pay it down responsibly. Identifying your priority debt to pay down is crucial as well. Speak with an expert at Roseland Associates to get insight on how consolidation may be the best way to pay down your debt.


Creating a Savings Account

As mentioned before, budgeting is the key to financial freedom. However, you will want to put money away each month to help build a savings account. You never know when you may face a financial crisis and need immediate help. Taking out another personal loan may have you drowning in more debt. Create a monthly financial plan and put aside a little bit of money each month into a savings account. You never know when you might need to make a withdrawal when the funds stop coming in.


Create More Income Streams

America is the land of opportunity. It is incredibly easy to open a business and begin selling products and services. One of the best routes to financial security is through developing more streams of revenue. This means that you will want to find ways to educate yourself and use your newly acquired knowledge to create a small business or take on a side job. Dozens of people use their free time to accumulate some extra cash each month that helps them out financially. Consider this option if you need some extra money to help you pay down some debt.


Creating Financial Goals

While these tips may be helpful, they mean nothing if you do not create achievable financial goals. The importance of goals cannot be overstated. They help us keep on track whenever we want to accomplish something. Having a vision in your mind about what kind of financial situation you want to be in will help clarify your plan of action. Be sure to sit down and write out some financial goals that you wish to accomplish. Speak with a financial advisor or a trusted friend to help you make a financial game plan and stick with it.


Achieving Financial Freedom

Millions of Americans struggle with financial problems each year. They can never seem to catch a break from the financial onslaught of debt that keeps increasing. Unfortunately, the problem is usually the person’s bad financial habits. These bad habits can keep racking up debt and prevent you from living your best life. This is why education is incredibly important when it comes to creating a pool of wealth that you and your family can enjoy. Contacting financial experts and loan providers like Roseland Associates is crucial for receiving the education you need to overcome these financial issues. Use these tips to help educate yourself on the basics of finance and take yourself closer towards living a life worth living.