Over the years I have visited many entrepreneurs and business owners. Have you ever thought why it is that one business can do so well and another is so mediocre when they are both in the same line of business? Well one insight that I want to share with you as to why this may be the case is to do with the psychology of you, the business owner.

How true it is that if you think big then chances are you will make it big…conversely if you think small then chances are you will remain small. Similarly if you think your business won’t succeed then you are likely to fail and your business will fail. On another level it is interesting that if you don’t value yourself and your business highly enough then you will undercharge for your products and/or services. This may be OK in the short term but it will mean that you will have to sell more products/services to make the same level of profit to your competitor that is charging a higher premium. In addition, the psychology of the customer often says well if that company is charging X and that other one is charging Y, then X’s product/service must be inferior to Y’s. Therefore I will buy Y’s. So not only are you selling less because your pricing is less but your margins are also lower. Plus in the long term when you wake up and realise that you need to raise your prices in order to survive your client base wont accept the huge price rise that you need to make in order to put you on a par with your competitor that started off charging higher and has been able to make small regular price increases along the way without alienating his client base.

So be bold, think big, think confidence, think value – your value and that of your product and service if you want to give your business a better chance of success!

About the author: Paul Stanford http://www.paulstanford.co.uk/blog has provided practical advice to hundreds of entrepreneurs for the past 5 years helping them to successfully start-up, transform and sell their businesses. Get in touch to see how his business http://www.4momentum.co.uk can help do the same for you. You have full permission to reprint this article provided this box is kept unchanged.

Copyright 2009 Paul Stanford

I’m a firm believer in delivering excellent customer service and the benefits that it brings to business. We are always hearing about how to improve customer service so I thought instead I would give you a couple of recent examples that happened to me of how to deliver poor customer service….
1. I was in a call centre doing some NVQ assessing for customer service…. Client calls in…agent answers…very irate and says I have been waiting for 15 minutes trying to get you to answer….to which the agent replies well wait another 15 then…and promptly puts the phone down!
2. I go to open a new savings account…I take the easy route and apply online. Half way through the website replies “we are sorry we can’t progress your request – please call our call centre”. So I phone the call centre. First question…what is your account number? I dont know I didnt get that far with the application. Reply – well without your account number I cant help you! I reply well cant you find my details from my name and address? Agent sighs and says OK hang on I will try but you are not making it easy for me! Agent finds my application and says we need to have details of all your earnings and savings. I ask why as I am applying for a cash ISA. Agent replies we need the information to proceed. I again enquire why and get the same stock answer. I tell the agent look this is too stressful so cancel my application. Agent says fine and thanks for wasting my time! I immediately apply online with another provider. Everything goes through like clockwork and I dont have to supply any income or savings details!

Well hopefully these will have been a bit of fun. But there is clearly a serious side and I am sure I can guess how you would like to be treated.

About the author: Paul Stanford http://www.paulstanford/blog has provided practical advice to hundreds of entrepreneurs for the past 5 years helping them to successfully start-up, transform and sell their businesses. Get in touch to see how his business http://www.4momentum.co.uk can help do the same for you. You have full permission to reprint this article provided this box is kept unchanged.