Why Your Business is Failing

Success in business is actually a very simple formula – keep your customers or clients happy.

How do you create happy customers or clients? 

1. Produce value-added products or services and/or
2. Meet or exceed the expectations of those you serve with those products or services.

If your business is struggling, and keeping or acquiring customers or clients is difficult, there are likely two reasons for this:

1. Perceived Inferior Value and/or
2. Perceived Failure to Meet or Exceed Expectations.
   

But, how do you know your customers or clients are not happy with your product or service? 

• Your customers or clients leave you the moment something goes wrong.
• Your customers or clients find a competitor who can provide what you provide, at a lower price.
• Your customers or clients leave you for a competitor, who actually charges more than you.
• Lack of Referrals – If your customers or clients are not regularly referring new customers or clients to you, that is a red flag. Customers or clients will make referrals if they are happy with the product or service you provide. They will not make referrals if they are unhappy with your products or service.

Happy customers or clients see your product or service as superior (value added) or are consistently satisfied or wowed by your product or service (expectations met or exceeded).

Unhappy customers or clients believe your product or service is inferior and/or your product or service consistently fails to meet their expectations.

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