In this episode Chris interviews Ray Thomas, founder of the Black Business Zone, an online directory for Black businesses. Thomas created this marketplace to connect buyers to Black business across America. Their discussion centers on the effects of 2020– a year of protests, pandemics and poverty that had and continues to have a crippling effect on the Black community. As Thomas points out, Black businesses closed at twice the rate of non-Black business. That rate of closure is devastating to the Black economy and the communities they serve. With a little help these businesses can receive support and prepare for unforeseen circumstances like 2020 through workshops, community engagement, and ecommerce as a way to boost sales. Tune into the show to learn more about how to grow your own Black business or support another.
So on May 25th of this year, in the middle of the pandemic, the Minneapolis police killed George Floyd. It sparked worldwide protests about...
“The way that you treat your employees and the policies which you have in place to manage your greatest asset (your staff), both have a direct impact on your customers and their feelings toward your brand. The principles that you apply to your employees will be mirrored by them when they interact with your customers. ” - Quote from Chapter 8 of my upcoming book: Customer Satisfaction. It's not just your promise, it's your business.
The way employees are treated and the organization policies in place have direct impact on how those employees will treat the business' customers. So, there should be a well thought out process in place to make sure that your employees, who are your first customers, are well treated. Wilmot Wright, an expert in the human resources and payroll field and servicing of small business owners, has compiled a series of services that can be provided for small business owners with realistic employee-related problems that...
The sad truth is that half of the businesses in our community will not exist five years from now, and in 10 years only a third of them will actually be still in business. One of the greatest fears of a small business owner is, staying alive and staying in business.
I got a chance to discuss various topics related to the financial health of small businesses with my guest, Safie Russell, a CPA with a Masters in Taxation. Safie has an extensive background in finances with over 18 years, starting out with the Big Four working in public accounting, worked with business accounts of all different sizes, and is now serving the small business community through her own company. SDR Consulting Inc, helps small businesses from formation all the way through to tax preparation and all the stuff in between. In this discussion she provides insights to some questions that I posed on behalf of small businesses owners.
Why do you think so many small businesses fail within their first five years?
I'm always excited to talk to, entrepreneurs, especially when they play in the same space and serve the same type of customers, which are small business owners.
We know and understand the importance of small businesses to our communities, to our country and the world. As you know, each community is basically made up of, small businesses that are providing jobs, paying taxes, and providing goods and services needed by our communities. They really are the backbone of this country. I'm always excited to talk with people that are serving that same customer.
I recently spoke with Ali Valdes about creating systems to prevent your small businesses from going out of business.
Her business's name is Ali Valdes Operations Management and she is a business operations strategist who helps small business owners figure out and plan operations for your business and how to systemize and scale. Strategizing a plan of what systems that you're missing in your business, what needs to be...
I want to talk about the recent survey that I did and the results, so that it can be used to educate small business owners. Especially those that are newly opened or looking to successfully launch, but also to build a sustainable business in this time when so many small businesses are failing or just trying to survive.
Let’s discuss the most important findings from the survey, when entrepreneurs and small business owners were asked the question… What's your #1 challenge right now, when it comes to Customer Satisfaction?
And the overwhelming response was…. Operations impact on Customer Satisfaction.
What you do in your business, the logistics of the day to day operations, the changes made, and the circumstance that you find yourself under, can result in an impact on customer satisfaction.
Depending on the type of business, your operations could be transparent to the customer. In the case of a product-based business, most people don't see what happens...