There's Gotta Be a Better Way! Happier Customers and Higher Profits
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Many small business have developed and modified their business processes just to get things done! They rarely go back and look at the process to make sure it is the most efficient way that provides the best results. This course identifies some of the methods used by professionals to continually find ways to improve the business. Doing business better will improve customer satisfaction and increase profitability. Small Business Owners will learn the basic principles of quality management, measuring performance and continually improving their business processes. -Learn the basic principles of Quality Management -Identify and measure key profit and satisfaction drivers -Create a business culture to continually make your business better
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There's Gotta Be a Better Way! Happier Customers and Higher Profits
- 1. Sigma Free Presents… There’s Gotta Be a Better Way! Happier Customers and Higher Profit Provided by Sigma College of Small Business, Inc.
- 2. Agenda Introductions Keynote Topic There’s Gotta Be a Better Way! Happier Customers and Higher Profits Break – Refreshments and Networking Ask Keynote Conclusion Questions Any Time There’s Gotta Be a Better Way! Happier Customers and Higher Profits There’s Gotta Be a Better Way! Happier Customers and Higher Profits 2 Copyright 2010 Sigma College of Small Business, Inc.
- 3. Describe a time that you experienced EXTRAORDINARY customer service. CUSTOMER SATISFACTION There’s Gotta Be a Better Way! Happier Customers and Higher Profits Copyright 2010 Sigma College of Small Business, Inc. 3
- 4. Now, describe a time that you experienced HORRIBLE customer service. CUSTOMER SATISFACTION There’s Gotta Be a Better Way! Happier Customers and Higher Profits Copyright 2010 Sigma College of Small Business, Inc. 4
- 5. Customer Satisfaction Drivers • Knowing What They Care About – What do your target customers care about • can you prove it? • Process for Delivery – Is it consistent between customers? • Employees? – How do you know? • Employees – Is performance within their control? – How are they trained? There’s Gotta Be a Better Way! Happier Customers and Higher Profits Copyright 2010 Sigma College of Small Business, Inc. 5
- 6. List the biggest obstacles to your business’ profitability. PROFITABILITY There’s Gotta Be a Better Way! Happier Customers and Higher Profits Copyright 2010 Sigma College of Small Business, Inc. 6
- 7. Profitability Drivers Revenue Drivers Expense Drivers • Price • Supplies and job materials • Volume • Labor • Margin • Marketing and sales Price x Volume = Gross Revenue • Administration Gross Revenue ‐ COGS = Gross Margin Profit = Revenue ‐ Expenses Major Quality Impactors Fixing Things – materials and labor to re‐do a first time failure Productivity – Labor costs due to low efficiency in getting things done Price Concessions – Overcoming “value holes” to remain competitive There’s Gotta Be a Better Way! Happier Customers and Higher Profits 7 Copyright 2010 Sigma College of Small Business, Inc.
- 8. Quality Management Theory Improvement vs. Inspection Before After • Inspection to “catch” • Inspection to measure the problems “prevention effectiveness” – Rarely focused on the – Used to manage cause of the bad part improvement process – Customer sees same, but – Improved process results in cost of problems is huge less failures – less cost – No Service application – Can apply to Services Adjustments are based on measured data There’s Gotta Be a Better Way! Happier Customers and Higher Profits 8 Copyright 2010 Sigma College of Small Business, Inc.
- 9. Quality Management Theory Measurement is Critical I often say that when you • Measurement is core to can measure (it) and express it in numbers, you modern quality management know something about it, • Measure process results to but when you cannot measure it (or) express it validate improvement efforts in numbers, your knowledge is of a meager and unsatisfactory kind. What gets measured, gets done. W. Edwards Deming Lord Kelvin There’s Gotta Be a Better Way! Happier Customers and Higher Profits 9 Copyright 2010 Sigma College of Small Business, Inc.
- 10. Process Improvement Mowing Service Sales Process • Advertise $$$ • Measurement • Manage – Reflect customer satisfaction Leads $ – Affect profitability Sales Process • Call for Appt. $$ CV – Potential measures • Close Rate • Site Visit $$$ CV • Cost per Close • Ave. Job Profitability • Quote $ CV • Project Selection – Biggest impact to CS or Profitability • Close $$ – Need for improvement CV – Customer “visit” – Can be impacted There’s Gotta Be a Better Way! Happier Customers and Higher Profits 10 Copyright 2010 Sigma College of Small Business, Inc.
- 11. Sigma Free Presents… There’s Gotta Be a Better Way! Happier Customers and Higher Profit Provided by Sigma College of Small Business, Inc.
- 12. Improvement Method • Gather current data as baseline – Close rate • Site Visit – Cost per close $$$ CV • Net cost per site visit – Ave. job profitability Site Visit Improvement Idea • Provide phone estimate for first time • Idea Generation service – Based on customer estimate of – Phone estimate for first mow area – Site visit and adjust at first mow – Promotion pricing • At first mow • Business Case and Plan – Adjust quote to reflect actual • Advantages – Sets expectations – Some payment for site visit – Plan to implement and test – Demonstrate performance – Face‐to‐face close opportunity • Implement and Test There’s Gotta Be a Better Way! Happier Customers and Higher Profits 12 Copyright 2010 Sigma College of Small Business, Inc.
- 13. There’s Gotta Be a Better Way! An Attitude of Improvement • Indicators for Your Business – Low Repeat Business! – Heavy review and inspection – Entering data multiple times – Employees “sharing” time • Methods – Map and measure – Use employees for great ideas – Document and formally train on processes • Change – Prepare and Manage for Change There’s Gotta Be a Better Way! Happier Customers and Higher Profits 13 Copyright 2010 Sigma College of Small Business, Inc.
- 14. Sigma College of Small Business Critical Business • Upcoming SigmaFree Classes Areas – 10/7 – Spread the Word! Get the Most Strategy and Planning with Integrated Marketing Marketing and Sales – 10/14 – Follow the Money! Find the Value in Knowing Your Financials Accounting and Finance • October Sigma College Course Operations and – Marketing and Sales for Small Business Quality • Starting Tuesday Oct. 20th Leadership and • 3 pm to 5 pm EST Administration Technology and Innovation There’s Gotta Be a Better Way! Happier Customers and Higher Profits Copyright 2010 Sigma 14 Dedicated to the Learning Needs of Small Business! College of Small Business, Inc.