I gotta get paid
OK, so you just started selling goods and services for money. But you have a problem; either you’re too small (nobody knows you), you need references (didn’t do enough big jobs yet), or are broke as a joke (need money to make money).
Whatever the issue is, you need to convince people to buy your goods NOW! Costs are mounting, confidence waning, and sleep is starting to elude you. I understand the urgency that can possess you and your business when you’re under pressure, but you can’t just submit your soul to that demon. One excuse becomes two, then three, and before you know it you’re lying, cheating, and stealing with the best of them.
It’s all in your head
The first instinct is to start exaggerating the truth a bit, then cut a cost or two, then maybe think about adding some fake references, and I think you see where this is going. All I can say is: STOP! All those things in your head are just that: In your head. People don’t generally care if you’re a startup, as long as they feel confident that you can do the job well, and for a fair amount. In this case, honesty really is the best policy. Be frank, and proudly announce that you are a startup and promise that you will provide great service/products at the best price possible, and you will do all you can to satisfy your customers.
Reputation: Your most valuable asset
Some startups just care about the jobs that pay the next bill and forget about the last customer with pending services. Make sure you service each customer to the best of your abilities. That will not only guarantee repeat business but will (more importantly) be a building block to your reputation: Your most valuable asset. Leave a good taste in their mouths, so they come back later.
If you have a good reputation, then great! But if not, it can only lead to one thing; failure. You’ll be discovered fairly quickly, and people (who aren’t stupid by the way) won’t deal with you, will avoid paying you on time, and will take every opportunity to use your competition. So unless you’re selling water in the desert you’re probably doomed to fail.
Raise your prices
What are the hallmarks of an excellent reputation? Quality, honesty, efficiency, and value. The first three are obvious and clear: Be honest and efficient and ensure quality at all times. NEVER compromise on quality. When that happens, your name has value. That is where/when you can raise your prices. Why? Because people trust your name and won’t mind spending more. That is what we should all aim for. Bahrain is small and smart enough to have an overall brand of quality. So make sure you push yourself and your staff to the edge, and always keep that value in mind. At the end of the day, that’s what keeps us better than the rest. Yalla Bahrain. Value. Yabeela.
