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		Member Features
		This section showcases our Member's contributions, as featured on our web site on a weekly basis. If you have an article or an item to post here, please send it to us via email or let us know how we can access it on the web.
		9/2/02 Member Feature: Turning Customer Complaints Into Benefits by Joanne Fritz, Positive Impressions No one likes to hear complaints -- especially customer complaints. Why? Because all too often mis-handled customer complaints result in lost customers. And lost customers turn into lost dollars, and have an adverse effect on the bottom line. On the average, it costs five times more to acquire a new customer, than to retain and grow an existing customer. In fact, studies have shown that a five percent increase in customer retention can lead to a twenty-five percent increase in profitability. So, who can really afford to lose a customer? The customer who gives us a problem to solve, or who lets us know they are unhappy with the product or service, is giving us an opportunity to keep him as a customer. Customer complaints have a positive side. They let us know what customers think about their experience with us and our company, and provide a means through which we can build better customer relations. Furthermore, research shows that a customer who has had a problem with our company and has had it resolved in a timely manner and to his satisfaction, will be more loyal and purchase more products or services from us than customers who have never had a problem. For example, a large wholesaler informs a shipping company representative: "I was really angry last month when I complained about your late delivery -- but your driver sincerely apologized and I noticed that you compensated me this month by giving me a freight-free shipment and sending it ahead of schedule. I appreciate your doing that. As long as you treat customers that way, you've got my busi-ness." The customer relations professional is an optimist who realizes that while operating any business means receiving at least occasional complaints, those complaints represent opportunities to develop stronger relationships with customers. Here are two very important reminders for turning complaints into beneficial situations. First: Always try to make the customer better off than he or she was before the complaint. Whenever possible, go one step beyond merely apologizing for the customer's problem. It's the extra little something that not only turns the original complaint into a benefit, but can turn the complainer into someone who praises your business to others. Provide a free delivery next time; two free cases of soup for the damaged carton the customer received last time; or spend a Saturday helping a distributor rear-range his displays. Whatever the small cost of your thoughtfulness, it will be far outweighed by the goodwill you create. In the future, you'll have more than a "loyal customer;" you'll have an "advocate" of your business &endash; one who recommends you and your business to everyone who will listen! The Second Reminder is this: You are not doing the customer a favor by simply providing what you should have provided in the first place. If a customer drives 10 miles home with a lamp you sold only to find the wiring is bad, you are not doing him a "favor" by replacing it the next day with a new one. When you say, "We'll be glad to replace it with another one," the customer is still upset by the incon-venience of a 20-mile round trip and the time wasted. If you want the customer to be a repeat buyer, why not "sweeten the pot" with a package of light bulbs, or an extension cord. Try this approach with your next customer complaint. You'll have a permanent customer -- and even an advocate of your business!			Featured Items Charles Wasilewski, Words & Son: Dan Shanok's Best Networking Tips (12-Aug-02) Dan Shanok, TD Sales Enterprises: Networking Tips for the Busy Businessperson (8-Aug-02) Frank Patrick, Focused Performance: If You Fail to Plan (31-July-02) Joanne Fritz, Positive Impressions: Taming the Business Meeting Monster (24-July-02) Mark Twentyman, CRESA Partners: Softening Office Market in Somerset County (12-June-02)
		8/12/02 Member Feature: Dan Shanok's Best Networking Tip's by Charles Wasilewski, Words & Son Shanok of TD Sales Packs In Networking Tips for the Busy Businessperson If Dan Shanok worked in an ice cream shop, he'd be one of those guys who'd push the ice cream down once, twice, three times -- as much as possible without breaking the cone. The satisfying result he would hand you: a cone jam-packed with as much of the sweet, tasty stuff as possible. (And you'd feel you'd gotten your money's worth.) Like a generous and diligent ice-cream scooper, Shanok packed in the networking tips at the monthly meeting of the Somerset Hills Business Network on Friday July 25 at the Basking Ridge Country Club. "Usually I make a presentation on the topic of networking in an hour-and-a-half," confessed Shanok, principal of TD Sales Enterprises LLC in Warren, a firm that advises and coaches small and mid-size business owners in developing stronger sales positions in local and national markets. But 12 minutes after Shanok started his networking presentation, he sat down to applause. He had inspired and energized the audience of 55 business people and professionals with his clear outline of the do's and don'ts of networking: Don'ts (things not to do at a networking event): Expect to sell anything. Hang out with your friends. Lead people on to be polite. If NO fits, say so &endash; nicely. Do monologues … (a 30-second commercial should last between 60 and 90 seconds) No "M.A.M.S." (Middle Aged Male Syndrome -- endless "me" "me" "I" talk). Collect "as many cards as you can." Make your commercial about you (instead, build it around how your product or service could help them) Do's: GET READY Know your ideal prospect. Rehearse questions that will eliminate all other suspects quickly. Set written goals: # of conversations: How many people will you speak to? # of leads for appointments: How many real cards will you take? Organize your mobile "office" (i.e. your clothing) Pocket for your cards (same one all the time) Pocket for their cards (same one all the time) Badge on right breast (to be seen when you are shaking hands) Dress not to be noticed but to be comfortable (you wear the clothes … don't let the clothes wear you) ON THE FLOOR Meeting & Greeting: Use firm handshake. Note eye color of person you're talking with. Prepare and use a polite disengagement line. Move on quickly. Courtesy: Don't interrupt. Don't monopolize other people's time. Do invite 3rd and 4th parties in as soon as possible. Body Language: Relaxed Open stance Approachable smile Respect: Other people's time Other people's space Remember: Don't sell. Make arrangements for a future phone call to set up appointment. Ask for the gatekeeper's name. (Ask your new contact to have them tell gatekeeper he/she is "expecting my call," and offer a second card for the gatekeeper). AFTERWARDS You have 48 hours to make contact if you want it to stay fresh. Keep score: # talks # cards taken # dials afterwards # appointments # closed sales Study your ratios: Leads-to-conversations Appointments-to-leads Closes-to-appointments Evaluate results from each network group you attend from time to time. Make sure your return on investment of time is worth it. Have a question about networking? Email dshanok@aol.com. About Dan Shanok: Shanok's firm, TD Sales Enterprises, is a licensed affiliate of the Sandler Sales Institute, a nationwide training organization with a network of more than 160 trainers and consultants dedicated to improving sales and sales management skills. Notes Shanok: "Our training focuses on results in the sales arena utilizing non-traditional methods. Learning only occurs if activities are planned and performed, and continuous feedback and evaluation is provided. Every individual's long-term plan for success will be defined using personal, financial and work parameters." TD Sales Enterprises offers three sales training programs: 1) President's Club Professional Development Program. The President's Club is a series of interactive sales training sessions, combining workshops, real-world role-plays, problem-solving clinics, and ongoing reinforcement. Registrants, who sign up for a year, attend small classes (maximum 16 people) lasting 2-3 hours. Trainers offer 20 different courses such as "Creating a Prospecting Plan" and "Overcoming Call Reluctance." The atmosphere is of a college-level seminar with plenty of individual attention. 2. On-Site Corporate Sales Training Courses (10 or more employees). These courses are tailored to the specific sales problems and needs of the corporate client and teach the appropriate selling dynamics of the Sandler Sales method. 3. One-on-One Sales Coaching. Dan Shanok meets personally with an individual to evaluate and improve sales technique. Background: Dan Shanok is active in marketing and sales, starting as a regional field representative for a Fortune 500 manufacturing company and advancing to the corporate vice president level over a 25-year career. Dan has managed commodity and technical product sales to companies in a variety of industries, including furniture and housewares manufacturing, original equipment automotive parts, and appliance manufacturing. Dan has also managed sales of products distributed through various networks, including mass merchandising retailers. Reach Dan Shanok at: TD Sales Enterprises, LLC 50 Mount Bethel Road Warren, NJ 07059 Phone: 908-822-1700 Fax: 908-822-1711 Email: dshanok@aol.com Read more at: www.somersethillsbusiness.com/profiles/tdsales.htm This article prepared by Charles Wasilewski of Words and Son LLC Business Communications, a member of the Somerset Hills Business Network. Contact Charles via email (emailbox@wordsandson.com) or 908 766-4168.
		7/31/02 Member Feature: "If You Fail to Plan.." by Frank Patrick, Focused Performance "If you fail to plan, you can plan to fail," says I. "We don't have time to plan, we have to get started," says he. "Started on what?" says I. "Started on the work," says he. "Which work?" says I. "There's a whole bunch of stuff we know we have to do," says he. "But with your lean and mean organization, you have more work than resources. Which stuff should they work on today?" says I. "That's OK. It all has to get done. Start whatever we can," says he. "But isn't there some stuff that can't be finished without other stuff," says I. "That's OK, it can still get started. If not, people will be sitting idle. Can't have that," says he. "But it'll sit half-done, waiting for inputs that may not match what was done, probably leading to rework," says I. "That's OK. We know how to be flexible. We have to be in this business," says he. "But rework will add time and effort," says I. "That's OK. There's always overtime if we need it," says he. "But even with OT, with all the false starts, un-clear goals, and people jumping willy-nilly from task to task, don't you risk being late against your promises?" says I. "That's OK. We're used to being late. That's why we always have a fallback plan to deliver less that the full original promise and come back later with the remainder in a second release or shipment," says he. "Plan?" says I. "Doh . . ." says I, Homeresquely, with the heel of my hand thumping my forehead.. Think about it . . . Isn't managing an organization to accomplish a strategy in support of a goal something worth planning? What's your plan? What's your strategy? What's your goal? ©2002, Frank Patrick For more info on Strategic Planning (For smaller businesses as well as large): <http://www.focusedperformance.com/strategy.html>
		7/24/02 Member Feature: "Taming the Business Meeting Monster" by Joanne Fritz, POSITIVE IMPRESSIONS Too often, meetings are an executive's worst enemy. They can consume a manager's schedule in no time, leaving precious few hours for valuable planning and production. So, before you schedule another meeting on your calendar, let's talk about some meeting guidelines. First, ask yourself, is this meeting really necessary, or can you handle this topic in a more efficient way -- phone or e-mail? If the meeting is necessary, do you have to attend, or can you send an alternate? Learn to be discriminating with your meeting attendance. Every meeting should have a carefully planned agenda that spells out the ground rules, the time-limit for the meeting, the topics to be covered, and the expectations of the people who will be participating. Too often, though, meetings lack such order and become rambling, disorganized and frustrating. If possible, whenever leading a meeting, hand-out -- in advance -- a list of topics that will be covered. This gives participants time to think of questions or suggestions they may have, as well as bring appropriate reports, briefings, and so on. Preparation helps ensure productive work time at meetings and a shared understanding of what is expected. Next, appoint an impartial timekeeper, whose responsibility is to make sure everyone presenting stays on track and doesn't exceed their allotted time. As the timekeeper, you may feel uncomfortable at first signaling your peers that their time is soon up; however, you will soon gain favor with fellow attendees. We've all shared the pain of sitting through 5-minute project updates that turned into 25 minute monologues. The timekeeper helps prevent this nightmare from happening. Encourage everyone to take notes during the meeting. This stimulates group participation, and prevents important points being lost. During summary and wrap-up, the meeting leader can consolidate notes to ensure that all critical items have been captured. Finally, at the end of the meeting, be sure to agree on the calls to action. What did the group -- and each attendee -- agree to do after the meeting? Assign follow-ups by clearly stating who is responsible for doing what, and by when. Record these decisions, and then, end the meeting on time. Try these proven techniques before and during your next meeting, and see how much more control you have over those "meeting monsters"!
		6/12/02 Softening Office Market in Somerset County One of our newest members, Mark Twentyman of CRESA Partners/New Jersey LLC, has provided us with this current assessment of the Somerset County commercial real estate market: The slowdown in the general economy has significantly impacted the office market in Somerset County, with the overall vacancy rate having risen to approximately 30% (as of June 2002), representing 4.5M Sq Ft of available space. (In comparison, the overall vacancy rate for Northern New Jersey is approximately 20%). In part this reflects the "shake out" in the telecommunications sector, which is heavily represented in the county. The good news is that the pharmaceutical sector is still expanding and filling some of the void, as evidenced in recent major transactions by Aventis in Bridgewater and Pharmacia in Basking Ridge. At these vacancy levels, market conditions are starting to favor tenants who are looking to secure new office space. In particular, the increasing quantity of sublease space provides opportunities to secure such space on more attractive terms than may be available directly from a landlord. However the majority of the available space in Somerset County (75%) is made up of units in excess of 50,000 Sq Ft, where there is often a reluctance to sub divide such units to cater for smaller tenants requirements. Therefore, tenants with needs of less than say 10,000 Sq Ft may still find it a challenge to secure the space they desire, in spite of the high vacancy rates. (see attached article on the challenges and opportunities for tenants in this current market). For more details on the specific issues of subleasing and total occupancy costs, you can download these .pdf files from Mark: "Sublease Market Offers Challenges and Opportunities For Tenants In 2002" and "5 Critical Issues That Can Impact Your Total Occupancy Costs." You can reach Mark at 973-984-1717, Ext 230 or at mtwentyman@cresapartners.com.
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