Financial pundit after financial pundit has stated that the most effective ways to accumulate wealth is through entrepreneurship. It appears the Latino community has taken this advice to heart. According to the Department of Treasury nearly 25% of all new entrepreneurs in 2021 were Latino. Yet, what does it take to make sure your business succeeds? Standing out from the rest for only the best of reasons. Here are some tips how.
Put Yourself In Your Customer’s Shoes
Put yourself in the shoes of a secret shopper, someone who walks into your premises or uses your business, reviewing every step with fresh eyes. It may seem hard to do this because we have the most intimate knowledge of our firm and why you’ve decided to establish our career in this way. That being said, sometimes a new perspective can go a long way. It can help you not only plan out improvements you’d like to make, but spot mistakes that need to be addressed, or it may even be that taking this view into the business lives of others can help you learn more for when you eventually strike out on your own.
It’s very easy to bury insight within monthly reports, reviews, logistic planning etc, but one question can cut to the heart of that and help you see more common wisdom – if you were a stranger, how would you like to use your own business? How would you engage with the professional you are now? With a brutally honest perspective that lifts and criticizes in equal measure, you may yield some wisdom.
Attendance Time & Candor
How long it takes before someone addresses your needs and the etiquette they provide to you can always be better, more inclusive, more polite. That’s not to say your staff have to tread on eggshells nor should you be afraid of turning down a client or negotiating with them. But it does mean learning what the front end experience is like, investing in your people, and upping the standards to help that ever-necessary first impression shine.
Protection & Trust
Ultimately, any use of a business, yours or not, is an act of trust. There’s an executive decision that has to be made on the part of the consumer to see if your company is worth the time after all. If it is, well that can grant a sense of fondness and connection you may otherwise have missed. This is expressed in the small things, from merchant account solutions that allow for quick, easy and secure payments. To account management tools where client-business communication are processed centrally and responsively. Investing in both of these systems is always a good idea.
Simple Explanations
You shouldn’t have to take a master’s degree to understand exactly how to interact with a local business. They should be trying to explain and cultivate your own interest. This means opening the door for any questions, making it very clear what you have to offer and what the limitations are, how much the exact no-hidden-fee cost might be, and what customizations or preferences can be set. If you can implement those with a smile, then customers will feel inclined to return to you again and again. It’s all about fostering a sense of conneciton, and good explanations do that more than anything else.
With this advice, you’re certain to curate and develop your business in the same manner you might expect from another firm like your own. That in itself can help your personal tastes and perspective develop the vision for your business.
This article is a partnered post that contains affiliate links.