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How to Have Successful Client Relations

May 16, 2011 By Leave a Comment

Successful client relations are key to any business. Of course there are easy clients that are easy to please, but there are also high maintenance clients that seem to require hours on the phone, tons of edits and lots of time. There are some keys to successful client relations that can make a business flourish.

  • It is important that you know your role. Be sure that expectations are clear and concise. You need to know exactly what the client wants and expects. Get it in writing and pyrefer to it often.
  • Invite client input. If the client feels that they have made a significant contribution to the project they will be less likely to request major changes. They have a stake in the finished product due to their contributions.
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  • If you have messed up admit it. Clients do not like excuses. They want results.
  • Do not take every project you are offered. Too many companies just starting out are desperate for work and are tempted to take on projects that they know they may not be able to complete or do successfully.
  • Be on time. When you say you are going to deliver the results do it.
  • If the partnership just isn’t making progress ending the relationship may need to be considered. If you are miserable chances are the client is miserable. Part ways peacefully.

Client relations are the bread and butter to any business. Follow these tips for a happy, successful client relationship which will lead to a successful business.

 

 

 

Filed Under: Business, Client Relationships, Employee Relationships Tagged With: , ,

People People

January 23, 2011 By Leave a Comment

If your business has a recurring client base, it is very important to develop and nurture a relationship with those clients.  It is not always the boss who has the dealings with those clients.  The big boss can choose to have some of his employees, more than likely those in management, deal with the clients.  Choose your best people person.  The employee who has to deal with your clients should be someone who has great people skills.  The person should be likable, well dressed, well groomed, as well as confident and sure of him or herself.  These are extremely important characteristics when choosing the person or persons who will represent your company to the public.

Screening for this position should be rigorous.  Present many different situations to the employee to see how they would deal with them.  This is the person who will field complaints as well as requests from your clients.  He or she should be able to think fast on their feet, be able to come up with at least a temporary solution while a permanent solution can be sought.  Once they have developed a rapport with the customer this is also your go to guy when you want to know about the customer and his dealings with your business.  Is this a good time to let the customer know of new services?  Your client liaison will be know if this is something the client would be interested in at this time.

The person you choose should also be a stickler for detail.  He will know your customers personally, their birthdays, anniversaries, do they have children, what kind of wine do they like?  These little nuances can separate your product or service for other businesses out there trying to take that customer away from you.  A good working relationship with that customer can insure the customer stays with you.

Filed Under: Client Relationships Tagged With: ,

Human Resources: On Worker’s Compensation

December 7, 2010 By Leave a Comment

Human Resources: On Worker’s Compensation

There are a variety of different considerations that need to be made when setting up a business and planning out its structure, especially when it comes to human resources and human resource policies. For example, you need to have worker’s compensation insurance and you need to have a general plan for how your company is going to respond to worker’s compensation claims and other issues.

Worker’s compensation laws make sure that when an employee becomes injured on the job, he or she will receive the right amount of medical benefits and compensation accordingly. This is especially important in situations where the employee becomes injured on the job, or contracts some kind of disease as a result of job performance. Every state has a requirement that employers with employees purchase coverage for worker’s compensation in order to ensure that their employees are protected against any hardships in the event of an injury, an illness or a death on the job. Worker’s compensation insurance coverage protects not only the employees, but their dependents as well.

The worker’s compensation concept was designed both to protect the employee and the employer, since both can be forced to deal with hardships and costs when an employee becomes injured. The employee is going to receive medical benefits and compensation when an illness or injury occurs. In turn, the employer will not be sued by the employee for the injury or illness having been caused. The employer, then, is going to benefit from the immunity from any lawsuits, in most circumstances at least.

As an employer it is important for you to ensure that your management staff and your employees know what to do when something happens. When an injury or illness is claimed, an accident report must be filled out completely so that a claim can be made and so that the worker’s compensation insurance can be benefited from.

Filed Under: Client Relationships, Human Resources Tagged With: , ,

Human Resources: What is a 401k Retirement Plan?

December 5, 2010 By Leave a Comment

Human Resources: What is a 401k Retirement Plan?

If you want to attract workers to your business that are high caliber, then you need to offer things like medical insurance, competitive pay and a 401k retirement plan. According to studies, if you emphasize the offering of better benefits, then you will be able to attract a higher caliber staff as a result. This is going to make benefits such as a 401k retirement plan a real cornerstone when it comes to human resources recruitment and your retention strategy for the workforce in your business as well.

Human Resources: What is a 401k Retirement Plan?

A 401k retirement plan is designed to provide employees with a means to accumulate some income for their retirement. The government allows employers to sponsor these 401k plans so that employees can be encouraged to save for their retirement. These plans make it possible for employees to take a fixed percentage of their base paycheck that they can apportion as savings, pre-tax, before most of their withholding taxes have been deducted. This money is then deposited into a special trust account with either a bank or another financial services company so that it can be used for retirement investment purposes.

401k retirement account balances can be maintained individually for each of the participating employees, and the investment earnings will then be sheltered from any and all taxation. This makes it possible for savings to compound at a rate that is more accelerated. Regulatory restrictions as well as penalties may exist for any withdrawals that are made before retirement.

This is one of the most flexible types of retirement plans that you can buy into, making the 401k a great benefit to add when trying to hire better employees for your company. This is definitely something to keep in mind when you are trying to beef up the benefits package that your company offers.

Filed Under: Business, Client Relationships Tagged With: , , ,

Human Resources: Types of Business Loans

December 3, 2010 By Leave a Comment

It is not free to start a business. Most businesses require that you have some type of financial backing to be able to create the business of your dreams. Financing is so important to the business world that there are half a dozen different loan options out there for a business owner. The type of loan that you choose will depend on what you plan to use the money on.

Here is a look at the different types of business loans and financing that are available to business owners.

Term Loans. These are the common loans that any business can apply form. Term loans require that the bank give the business owner a set amount of money and the business owner will pay it back over a period of time. Term loans are generally used to develop some type of capital for the business.

Short Term Loans. Short term loans are similar to term loans but instead of being paid back over a period of years. These require that they be paid back over a short period of time. Short term loans are usually used for seasonal business needs or an emergency repair job.

Equipment Financing. These are the easiest types of loans to get for businesses. An equipment loan is where a bank or financial institute gives business owners money to get equipment for their business. However, the equipment or goods are collateral and can be collected if the loan is defaulted on. This collateral option is why this financing option is so easy.

Lines of Credit. Lines of credit allow businesses to have a set amount of money that businesses can borrow from. The money is only used when the business uses it and it does not have to be repaid back until it is used. This flexible option is great for businesses that only need to use the money temporarily. However, if you default on these types of loans interest rates are really high.

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What is Factoring for Businesses?

December 2, 2010 By Leave a Comment

What is Factoring for Businesses?

One of the least talked about types of financing that is available for businesses is known as factoring. In fact it is so rarely talked about that most business owners have never even heard of it or know what it involves. Despite it’s rare usage factoring can be really helpful for certain businesses. Here is a look at what exactly factoring is and what businesses might benefit from it.

Factoring is the process of a business selling their invoices and bills from clients to an outside company. For only a small fee this company will go ahead and issue your company a part of the invoice up front and the rest when the client or customer pays on the bill. Many businesses consider this a great way to be able to get money up front without having to worry about the client paying. The waiting period that clients have to pay the bill or invoice disappears when factoring is used.

What businesses should use factoring?

Factoring will generally only work for businesses that are just starting out in the business world. That is because these businesses will need the capital ahead of time and not have the luxury of waiting for customers and clients to pay on their invoices. Once a business is established and there is a little wiggle room for clients to pay there is no reason to pay another company to give you money up front, you might as well collect the money yourself.

How Much Does Factoring Cost?

Factoring is a fairly cost effective financing option. The company will generally charge a fee of around 2-3% to run the service and collect the money from the customer. The money upfront that the business receives is usually 75-80% of the invoice with the rest of the invoice being paid when the invoice is paid by the customer.

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