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Loss in business: Lesson from a wise friend who lost his business after PM Modi’s 25-Minute Man Ki Baat

With PM Modi addressing the nation on 23rd March 2020, the 21 days lockdown announcement made almost every person living in the country in complete amazement. On one side where the business owners were trying to focus on their backup plans, there were many people in the country who were worried about how they would survive the lockdown as their daily wage would be stopped.

Amidst all the news and panicked condition, I started calling some of my friends who were running different businesses. I was well aware of what the sudden closure of the business for 21 long days can do to their finances, so to ensure that they are all in their stable state of mind to face the situation, I kept talking to them.

Just as I was coming down the list, the next in the row was a very jolly person who I always look forward to talking to. The reason I loved talking to him is his nature, positive attitude and the witty jokes that are enough to make any situation feel lighter.

But this time, the conversation that he had with me on call left me completely stunned. The words he spoke, let my mind go on a whirl of thoughts and taught me a lesson which most business owners fail to learn.

Wanted to know what the wise man spoke? Read further…

The conversation started with me calling…
I asked him: How’s he doing?
He replied: Good as never before…

Oops! Did I tell you he owns a restaurant business? Well, now you know it!

I asked him: How can he say that when other restaurant owners in the market are horrified about their business?

  • How can he not fear about his customers getting laid off?
  • Did he have a planned strategy to hop in the market as the lockdowns get over?

My series of questions were answered with just one statement,

He said: Don’t worry my friend, haven’t you heard about CUSTOMER EXPERIENCE? I have mastered the art!

The conversation after this lasted for an hour and by the end of which I had a new perspective taught by my friend on how customer experience can be the most unique USP a business owner could have that can’t be replaced by any of the competitors.

He shared with me how his relations with customers and the service that he provides is best in his area. His trust in his customer to never let his business down has made him free from all the worries about the loss that could possibly occur due to lockdown and the stooped dine-in services.

His belief in the quality service and his joyful nature that attracts his customers and keeps them connected with him, no matter what the condition could be, is what he thought as his earning from his past business journey.

Looking at his attitude and the response that he is getting from his customer as a support, made me understand some basic things that matter for every business along with a solid business plan.

So here are some of the lessons about customer experience that the one hour call taught me…

  • Business service can overpower your business plans

No matter how well you plan your business, the only thing that matters is whether it helps your customer to satisfy the requirements they were looking for before approaching your service.

What if you had a great idea, but a failed execution or a poor presentation of the service can ruin all your efforts you have put in. The quality of the service that you are providing to the customer should be revolving around the problems they are looking to solve.

Talking about different industries, whether it’s IT or a hospitality business, the experience you give to your customers makes all the difference. You might be planning to give your customer an app loaded with features, but it could only reach its potential business if it serves the purpose of your customer.

Making it complex, doesn’t mean it’s unique, but the way it makes its place in your customer’s routine is all you need to make a brand.

  • Building human connections are important than business connections

Most of the business owners restrict the connections only to the business world, thinking that could only help them grow their business. But if we look at the broader aspect of the business, maintaining good connections with your customers could be possibly a great business policy to apply.

Imagine your customers being very happy with your service, sharing a good recommendation about it in their connections, making it spread among a huge crowd without taking your single effort. The business that comes through these activities is far more advantageous and reliable than any other tactic. Spreading a word of mouth or knowing about a service from someone very close to you will make more people interested in your business or service than it would be if you would have advertised them about your services directly.

  • Your customers are here to stay

No person in this world would like to have a change in their routine. For the people who are habituated to use your service, it would be their timely need to visit you no matter what the situations are around.

As per the research, the quality that makes a customer attracted towards any service is the comfort that he feels while using the service, and this comfort can only be achieved if the owner has the ability to personalize his service based on the customer.

Think what if you enter a store and the shopkeeper put the items on the counter you have come to buy for? The experience that the customer gets when the business owners have a deep understanding of the customer requirement is far more better than any other business showcase.

Thus personalization of the service is a key to customer retention.

  • Your attitude and behavior matters a lot

A smiling face of a business owner is a welcoming sign for the customer to hop in and use his service. The way you behave with your customers or even with your staff serving your customers says a lot about the respect you have for the people around you.

Entrepreneurs with high spirits and free souls have more chances to grab the customer as people love to work with a person who is enthusiastic to serve his best by building a healthy customer relationship.

This is the reason why a leader having a quality to keep his team together, not just through his words but also through his actions has higher possibilities of success as his team will be willing to do anything to accomplish the commitments given by their leader.

Summing Up

The new generation customers are well aware of what they want and also have a keen knowledge about the alternative options available in the market due to increased competition. Keeping these in mind most of the brands are now focusing more on the kind and the quality of service that they are providing to their customer, thus keeping customer experience as the epicenter of the business.

For every owner of a startup business or an enterprise, the inflow of business that a good customer experience can provide can not be achieved by any of the other tactics you plan for your business. After all, “the customer is the king”, and as stated by my friend that if you master this art of delivery there is no competitor or situation that can beat you in the market.

So if you are looking to master this aspect of your business, I can be the pilot to your plane of success. Through my startup growth program, I can help you learn some real techniques to rule the customer world and establish yourself as a brand. Email me your requirements or sign up for my program and I will join you on-board to set up your business plans.

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