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A Business Owner's Nightmare!

As a business owner there are lots of things that can affect my sleep! As your company grows you put your faith in more and more people to do a good job in representing your company the way you would want it done. In a networking event last night I was talking to some young entrepreneurs and explaining that process of “letting go” can be a little traumatic, particularly at first.

Every now and then you are reminded about why you had those trepidations!

A couple of weeks ago I blogged about a company we were considering as a supplier to distribute our newsletter. It is easy for me to sit here and blog about what was wrong in that situation, but as a business owner I cringe and hope that we are doing a better job!

The latest event to catch my eye was another classic. One of our practices is to survey our clients on a regular basis, we do a small sample survey each month and try not to “hassle” the same client more than once in any 12 month period. To date this has been done using our own technology but we decided to go and see what was available on the market.

One of our staff was doing some research and went to the website of an industry leader in this field. Their website was very helpful because it also provided links to many of their competitors with a bold statement that they are priced better than those competitors. I found this to be an interesting approach, and as it happens there were at least two flaws in this approach:

1. A little research amongst those competitors revealed that there was better pricing available.
2. The “industry leader” failed to respond to email queries about their service, while the listed competitors were very responsive!

So … this company was kind enough to introduce me to its competitors, make incorrect statements about pricing and then show inferior service. This is definitely the stuff that keeps a business owner awake at night!