There was a buzz in the air recently about the US Postal Service. Seems as though they were running into a budget deficit in the billions.
The Postal Service claimed they must cut Saturday service to customers to stay afloat -- a service they had provided for years. And one that customers expected. They said people using email instead of regular mail made a major dent in their profits. Customers were in an uproar. If customers had a choice, they'd lose many. Welcome to the real world of business.
There are three lessons in this for your business.
Lesson #1:
Use indicators, in addition to cash flow, that help you watch the ebb and flow of your business. What can you measure that will tell you quickly -- so you can act -- about what's happening in your business?
Lesson #2:
Don't just whack a service you've been providing your customers. If you need to cut, look inside your business for processes and procedures that can be streamlined to save you money. Cut the fat of your business, not the services.
Lesson #3:
Always be on the lookout for new competitors entering your business space. Don't wait for that competition to start taking away your customers. Be proactive. Find ways to offer more value to keep your customers loyal.
About The Author
(C) 2004 Denise O'Berry. Small Business Expert Denise O'Berry helps business owners take action to grow their business. Find out more at http://www.whatspossible.com
The How To Guide for Six Pack Abs First off I want to mention that, for most people, getting six pack abs is not an easy task. It requires serious dedication, but it is possible!
Analyzing the New Yahoo! RSS Report for Marketers We were waiting for something like this to happen for a long time. Yahoo!, one of the key providers of mass-market RSS aggregators, finally took a step forward ...
MORAL ARMORS Irrational Parenting, Part III The Author of Moral Armor reveals the psychology of bad parenting; from why they have children to the ultimate parenting sin: raising aimless, fear-ridden, defe...
Targeted Traffic to Your Mini-Site Mini Sites are great - BUT what about getting targeted traffic.
This article will briefly give some strategies to generate
traffic to your mini-sites.
Technology & Communication With more managers communicating through new technologies, rather than travel and face-to-face meetings, we need to consider what can happen to important messag...
How Much Should I Pay For This House? I probably answer this question for someone a couple times every week. The problem is that they don't have a good formula for determining the most they can pay ...
Why Is It important! What is Credit? How Do You Obtain It? How do you keep it? Where to Go for HELP...
Character: Is It Necessary In Leadership? (Part One) Summary: One element of leadership that many leaders ignore or neglect is character. Is it a necessary ingredient in leadership? The author answers the quest...
Say No To Obesity Avoiding obesity takes just your personal efforts. It's as simple as ABC.
How Do I Date My Pregnancy? Accurate dating of pregnancy is one of the most important steps in your prenatal care. Every decision you make and many tests that are run are directly related ...
Lessons from the First Space Strike On Apollo 13, the crew staged the first strike in the history of space travel. The date was December 27, 1973. Mission Control had sent more commands than the...
Decorate Your Home for Joy Using Design Psychology Design Psychology exceeds "traditional" interior design practice by considering the effects of design elements on our five senses, as well as our emotions. Rath...
Mind Mapping Got a complex message? Help get your message across with a mind map, a diagram of the reasoning going on in your head.
5 Ways to Pamper Your Parrot We are all busy these days and I know it's hard to meet all the demands in your life. But, it's time for a breather. Take an some time with each of your feather...