Bootstrapper.com - Confessions of Serial Entrepreneurs

The most important thing in business is customer service. I don’t care how good your product is. If you want to last for the long term, provide good customer care. Build a relationship with your customers.

Sending your customers to a call center in india, pakistan or whereverthefuck to read a predefined script is not customer service, it’s customer disservice. This is from someone that used to run a large call center company, which I did.

Care for your customers. LISTEN to what they want and give it to them. Empower your employees to give refunds, discounts or whatever they need to save customer. Don’t just have reps pass the buck. If t hey have to pass the buck then they shoud’nt be your customer service reps. Customer Service defines your business and quality care is the BEST WAY TO GET REFERRALS.

For those of you enamored by viral marketing, a little information, VIRAL MARKETING IS ANOTHER WAY TO SAY REFERRAL MARKETING.

Create positive buzz and your brand will survive even bad calamities. Handle situations by owning up to it, not denying it. The coverup is always worse than the scandal.

Me, I give all of my clients my cell and AIM and they can reach me 24/7. If you need me, call me. I rarely get late calls but when I do i take them. People appreciate it and actually call you less as a result knowing that they can is usually enough.

Think of yourself in your customers shoes. How would you want to be treated?

This message is intended for bankers and other such people that think saving money on cheap call centers is a good thing. IT IS NOT.

Research!
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Everything

…then ask yourself a simple question “Do you know enough to run this company” now before you answer that question think about this scenario. Pretend the idea is a 5 year old girl stuck inside a burning building. Are you the fireman? If the answer is no, find partners that are. If you try starting a company and you’re not the fireman - that means you’re the poor slob who ran into the burning building and never came out.

Goodluck to you…

So you want to know how to raise capital. I’ll tell you. It’s very simple. Don’t try to raise it. First build yourself a product to demo, then get a few customers to show proof of concept. Then money will either come to you or most likely it’s not as big an idea as you thought.

Remember folks, investors are greedy Alpha Dogs. They SEEK Alpha. If you’re idea isn’t good enough to be sought then don’t. Of course there are exceptions and you still need to pitch and try. But the basic lesson here is this: people something good and you can find money.

Now say you have a great product…how do you position it for capital. Positioning is just as important as the idea.

1) Have a coherent pitch. Elevator pitch, 60 seconds or less.
2) Have someone who has raised capital before help you with an executive summary AND a power point deck. Hire someone if you have to. The business plan is secondary as are the financials. Rarely will your plan ever be read in full and no matter what’s in your finanancials no (smart) investor will believe them. Investors want a business plan to see that you can make one though.
3) Have testimonials
4) Have good people around you
5) NETWORK YOUR ASS OFF, be friends offer favors to other people and eventually you’ll find what you need or the right partner that can take you there. Ask your lawyer, accountant, finance geek and fellow entrepreneurs. If you have a good idea, you will get referrals. If its a bad idea you’ll be told “i don’t know anyone”.If you can’t get referrals the odds are its a bad idea

There’s an exception: some ideas are not fundable…but that’s a story for another day…