Jon Taffer – How To Run A Business

June 16, 2015 by Mobile Beat

When my company does a good job, we make people happy. They laugh, they smile, they have a good time — that’s what we do for a living. Any business doing that is making a noble effort.

Here are some of my best business practices adapted from my book, Raise the Bar.

raise-the-bar
Selling begins once customers “enter” your store

  1. Every business process of communication must create a positive customer reaction every time. That reaction is the product. Any business, no matter what it is, lives or dies by the customer reaction it creates. Don’t just create great products, but also present them well to beat competitors who sell identical products
  2. Consider the lifetime value of your business
    Don’t just create a once-in-a-lifetime experience, create brand loyalty. When first time customers visit a new restaurant, fewer than 50% return because it’s still outside their habit cycle. Yet, if they do come back, there is a 50% chance they’ll return after a second visit and a 70% chance after a third. Therefore, don’t focus on just giving a great first impression, but also a great THIRD impression.
  3. Find what stimulates profits
    Since everyone is in the business of reactions, learn to manipulate those reactions for your benefit. Most people fall into one of four personality or motivational buckets: money, pride, ego, and fear. Craft your marketing language to play off of one of these motivators. For example, if your product is a type of insurance policy, outline how your safety net pacifies a fear. If you’re selling a new type of personal indulgence, be sure to highlight how good it makes people feel.
  4. Treat difficult clients like family
    Every entrepreneur has to deal with those needy, hard-to-please customers, but try to cultivate a new patience by acting as you would with a difficult relative. Just as you wouldn’t lash out at your grandmother during dinnertime, hold your tongue around tough clients to deal with them more effectively.

Check out the rest of this article at http://jontaffer.com/how-to-run-a-business/ and make sure to check out more information on Jon Taffer speaking at Mobile Beat Las Vegas at http://www.mobilebeatlasvegas.com

Print

Mobile Beat (1550 Posts)

This is the general editors account for Mobile Beat Magazine and Website. Who reads Mobile Beat online and in print and attends Mobile Beat events? DJs, VJs and KJs to start with, especially those who own and operate mobile entertainment services. They provide music, video, lighting and a myriad other entertainment choices for corporate events, wedding receptions, dances and innumerable other gatherings.


Filed Under: Business, Events