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Ep. 13 - Surviving and Thriving in the Small Business Landscape
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Are the common pitfalls of small businesses making you stumble? Fear not! This episode is going to arm you with the insights and practical advice to brave the world of small businesses and learn from our experiences, triumphs, and failures. We promise to take you on an enlightening journey, spiced with a dash of humor, as we share our candid reflections on the common mistakes that small business owners often make.
We explore the importance of managing customer touch points, sharing our thoughts on how neglecting them could lead to a potential loss of customers and revenue. Through a case study of a Mexican restaurant, we illustrate the immense significance of attention to detail, competitiveness, and constantly striving to improve. We also delve deep into effective leadership and the need to understand your target customers. You’ll discover the concept of a customer's lifetime value, the significance of investing time in your business, and how serving up a bad order of fries can cost you 5,200 dollars over 10 years!
Our discussion doesn't stop there! We shed light on the different paths of an opportunist and a planner, and how taking risks can sometimes pay off. We end by emphasizing the importance of solving bigger problems and how a passion for making a difference is crucial. By the end of this episode, you’ll be equipped with the knowledge and tactics to make your small business a roaring success! So buckle up, and get ready for a thrilling and informative ride into the world of small businesses.
Chapters
1. Mistakes Made by Small Business Owners (00:00:00)
2. Challenges of Working on a Business (00:06:16)
3. The Importance of Customer Touch Points (00:19:34)
4. Business Ownership and Customer Experience Discussion (00:24:48)
5. Leadership and Target Customers in Businesses (00:32:52)
6. Understanding Customer Needs in Business (00:40:39)
7. Opportunist vs. Planner (00:55:38)
8. The Importance of Solving Bigger Problems (01:05:38)
52 episodes
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