Business Skills

Business Skills: A Road Map to Success | Mastroianni Consulting

According to author and business consultant Quint Studer, successful entrepreneurs and company owners tend to have a certain, yet predictable, skill set.

These key abilities constitute his ‘top 10 powerhouse skills’ that every entrepreneur and business owner should strive to master in order to be successful.  They are summarized below:

1. Financial Know-How. Studer recommends concentrating on understanding your business’ cash flow and receivables first, and then planning accordingly.

2. Marketing Mastery. Marketing, not to be confused with advertising, includes all the decisions that take place in the process of getting your product to the consumer. Studer recommends focusing on ‘pull marketing’, in which you motivate customers to seek out your brand and work to create a loyal following, rather than it’s opposite, ‘push marketing’, where the main message is to convince clients to hire you or to buy something.

3. Salesmanship. This skill is centered on the strong belief and conviction that you have about your product or service. Being able to articulate it well and with passion is crucial. People today, don’t like to be ‘sold to’ and they don’t like a pushy salesman, but they do respond to enthusiasm and passion.

4. A Focus on Execution. While strategy and innovation matter, successful business people know when to pull the trigger to get things done. Ideas that you don’t, or can’t, implement are useless.

5. Customer Experience Excellence. Providing an excellent customer experience has never been more important. Make the experience personal, individual. As the saying goes, “Take care of your customers and they will take care of you”.

6. Culture. Attracting and keeping great talent means creating a culture where people are engaged, energized and excited about their ability to contribute and make a difference.

7. Delegation and Time Management. This ability centers around a focus of working on your business not in the business. Find tasks to delegate or outsource. Be very deliberate. Managing your time is critical to your success.

8. Problem-Solving Prowess. All businesses run into problems. Smart leaders know how to catch problems in their initial stages and can resolve them quickly.

9. Balance Networking with Real Work. While it is important and often necessary to network, it is the real work that produces results. Balance here is important.

10. Commitment to Community. An essential element of any successful leader is the ability to contribute to the community. Give back, become involved, make the world a better place.

Typically, these skills are developed over time. Great business leaders evolve by doing, failing, learning and improving. These 10 essential business skills are your road map to success.

Source: “10 Skills Every Entrepreneur and Small Business Owner Must Have,”
ExecuNet (Nov. 13, 2017)

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5 Ways to Build Stronger Customer Relationships | MASTROIANNI CONSULTING

For most of us, if you are in business, you are in the relationship business.  Good customer relationships are vital.  The more we learn about our customers, the better we are able to meet their needs.  This knowledge, when implemented, allows us to build loyalty and trust.  We hear it all of the time, “People do business with people they know, like and trust.”  The true benefit of good customer relationships is, once earned, they often generate repeat business and referrals.

In honor of National Get to Know Your Customers Day on Thursday, Jan. 18, we took a look at five simple ways you can get to know your customers better.

  1.  Ask for their input:  People will usually tell you what you want to know if you ask them.  You can do this in person, or you can conduct surveys to collect standardized responses. Your questions can range from simple requests for updated contact info to in-depth evaluations of their customer experience.
  2. Request reviews, then follow up:  Reviews help potential customers make informed decisions.  They also present an opportunity to strengthen relationships with your existing clients.  The key is to follow up on every review, both positive and negative.  Doing so, gives you the opportunity to reinforce the customer experience, identify clients who are likely to recommend you, and convert dissatisfied customers into happy customers.
  3. Make it about them:  Let your clients know they’re not just another number by setting aside time to check in periodically, either in person or with a phone call. Find out what they are up to.  If their goals have changed, ask if there’s an opportunity for you to help.  Then, use automated email marketing to supplement the time between conversations.
  4. Seek out data:  While you can learn a lot about your customers from one-on-one conversations, data can help you delve deeper to understand their preferences.  Use your own data (if you have it), or purchase aggregated data to uncover psychographic, behavioral, demographic, or geographic information.  Data will give you insight into the types of customers you should focus on, making it easier for you to convert more leads.
  5. Utilize a CRM:  The more you get to know your customers, the more you’ll need a centralized location to store the information.  Use a Customer Relationship Management (CRM) system to maintain individual customer profiles, track purchase and referral history, record communication preferences, and set follow-up reminders. For example, if your client just bought a house or had a baby, a CRM can remind you of these important life milestones, which is information you can use to have more personalized and productive conversations about your services.

These tips, when implemented, will assist you to build better, stronger and more successful relationships.

Source:  Adapted article Spark | Stifel Bank & Trust

Mastroianni Consulting can help you strengthen your customer relationships and close more business.   Team up with us and watch your real estate business grow!

17 Time Management Tips (Infographic) | Mastroianni Consulting

As there are only 168 hours in each week, managing what we do with our time is key to living a balanced and productive life.  Check out these 17 tips to manage your time and become more productive.

Realtors, Mastroianni Consulting is here to help you manage your 80% so that you can focus on your 20%.  Team up with us….

#2019TeamUpWithUs  #MastroianniConsultingIsHereToHelp

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