Success Stories of Entrepreneurs
Building the Name
The following success stories of Entrepreneurs serve as a reminder to anyone who owns their own business what it really takes to succeed. And we're not just talking making the big bucks, but building a name which establishes your good reputation. If you are hoping to get a few entrepreneurial tips along the way, you are at the right place.
Success Stories of Entrepreneurs / Quality of Service and Expert Craftsmanship
Chris Anderson, General Manager of Slabworks of Montana (a successful full-scale fabrication operation), believes that building a solid reputation for the business is very critical for its success. He knows that people tend to spread both good and bad news to their family and friends about a business and most people will usually listen to their advice. Before you know it, the business will start losing its customers. The Slabworks of Montana first opened in 1994 as tile installation business, with only two employees.
Dave Scott, the owner of the business with his wife, Teri, also believe in the same principle. They know that by providing the highest quality of service and craftsmanship possible, and in keeping the integrity of their business intact, customers are sure to notice and the reputation of their business benefits. Not only that, but their employees also keep up with this principle and help out with the provision of quality customer service. With these standards, the business now has 18 employees with retail outlets all throughout Montana.
Success Stories of Entrepreneurs / Customer Intimacy Model
The success story of entrepreneur, Marx Acosta-Rubio, is founded on a model that focuses on customer service. He is the owner of Onestop, which distributes office consumables in Canoga Park, California. Competition is tough but by thinking of his customers first and inventing this way of giving better service to them, his company’s name has built and still has a competitive edge with all the other bigger companies in the same market. He calls this strategy as “customer intimacy model”, which focuses on customer service instead of price and availability.
This unique strategy is done by having his employees contact their customers over the phone before they need office supplies, and it works because they brought in $16 million with only 14 employees. Marx Acosta-Rubio added that for success, an entrepreneur should have the passion for what he is doing and not just be doing it for the money. His secrets to success include having an avid need for learning and the courage to keep going in spite of mistakes or failures.
Success Stories of Entrepreneurs / Working With the Business
An entrepreneur should be working on the business, and not in the business. The success story of entrepreneur, Michael Reagan, President of Fast Signs on Central in Phoenix, said this is one of the major challenges that entrepreneurs should do. He said that an entrepreneur should be working on the business, by being with the customers, doing marketing, advertising, public relations, and whatever else needs to be done to keep the business alive, instead of working in the business by being in a technical or operational standpoint.
His goal is customer satisfaction, and because of this, he treats his employees as highly as he treats his customers. Employees are seen as business partners and the company’s environment is maintained at a highly motivational level. He believes that how an entrepreneur treats his employees is more likely how his employees are bound to treat his customers. His story illustrates just another example of good customer service should be delivered because the customer builds the business with the business owner.
Seven years after his franchise opened in July 1, 1991, his company recorded more than $1.3 million in revenue, which is incredible when you compare it to the national average of any FastSigns franchise at $32,000/month. Years later, FastSigns on Central ranked 1st in western region sales among the FastSigns network and 2nd internationally.
Success Stories of Entrepreneurs / Stability and Reliability
Barry Edwards, President of the Louisiana-based Creative Presentation, Inc., is another entrepreneur who really understood how much a company’s image means to its existing and potential customers. He started out really small, with only himself to work on his business, in a small office in his house. His idea of selling presentation equipment at the time when it was still a new technology was not something that his employer wanted to do. But he believed that he could do it, so he decided to go out on his own and make his idea come true. It wasn’t easy because of financial and other issues. He was only 25, and married, with a baby. Leaving an employment to work on his own business is a huge risk and would take a lot of energy and time, but he knew that he could do it.
Working by himself on his business was something that he knew wouldn’t look very good to customers, either. So, he took measures to make sure that the image of his company was not of one that was run by one person, but of one that was stable and reliable. He incorporated his company, answered the phone in two voices to make the customer think that he had an assistant and gave himself the title of Sales Manager so that people will think that he answers to higher authority. After a year, he hired his first employee and three years later Creative Presentation Inc, moved out of his house to its own office. Barry Edwards was so right about his idea, too because his sales grew steadily from $180,000 in 1991 to $11,000,000 in 1999!
The success stories of entrepreneurs above are just examples of how important it is for any business to build up a good name in front of its customers. One of Sam Walton’s (founder of Wal-Mart) 10 Rules for Building a Successful Business is Rule 8: Exceed your customer's expectations.
Many entrepreneurs follow this, if they haven’t already, because this is one of the major factors that build your business name. If customers get what they want plus more, they are more than likely to keep coming back and telling other people about your business.
If you hope to be chronicled in future success stories of entrepreneurs follow the lead of those featured here on this page. If you treat your customers as the first priority, they will appreciate it. Regular customers means steady business, and the more customers that your business has, the more it moves up that ladder to success.
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