Business Success in the New Economy: 3 Business Secrets that Always Works

Now that the economy is slowly growing again, your business can grow right along with it. Financial experts such as Suze Orman and Robert Kiyosaki both agree that money rules change when the economy is bad, but with business, some fundamentals stay the same. Here are three secrets to business success that works in any economy...

1. The Customer is the Boss . I know you've heard this one before, but it's the truth. You may be the manager of your business, but the customer calls the shots. You are working for them-not the other way around. One thing that the recession has done was teach consumers to be smarter shoppers. They want quality products-and they are not accepting anything less. Your customer is now looking for goods and services that are worth their money. If you want their business, you have to offer them something new and special, something better than your competitors, and most of all-something of great quality. TIP: There's a saying that says "A product must be 10% new for it to sell", so add that one extra touch to your product/services. This one extra feature may make the difference between your business success and business failure.

2. Provide Great Customer Service. Financial advisor Clark Howard refers to customer service as "customer noservice" because so many companies fail to address the needs of their customer once the sale is already done. Good customer service takes place before, during, and after the sale. A company that doesn't value their customer will eventually lose them to another company that does. TIP: Usually when a customer complains about a product or service, it's because it didn't meet their expectations. When this happens, a lot of companies simply give refunds on the service, but this may not always be the best thing to do. Refunds are what companies give when they don't know any other way to fix the problem. But actually replacing or fixing the product/service will make more sense. You may find that it doesn't cost your company as much as it would if you have just given the money back. And in the long run, your customer will stick by you because you are willing to go the extra mile to keep them happy.

3. Put Employees in the Right Place. This one can go hand in hand with the last tip because so many customer service reps do so poorly because they are in the wrong position. Customer service is not their strength, yet they were put in that place. There should be unique requirements for every position at your company-and each employee should meet those specific requirements. TIP: Create a detailed description of what you want your employees to be capable of for each position. Then rearrange your employees to a position that may be a better fit for them. (You may find that you will need to fire or hire new employees.)

These three things will never change. Treating your customers with respect and having great employees will never go out of style. But before you can have a great business, you must vow to yourself that you'll be a great boss.