Building excellence is a process that’s embedded in team members and one’s best practices. By incorporating the methods by which other businesses have found success, and tailoring them to your own, you’ll find growing profits as well as more committed employees.
Increasing Cash on HandAmong the many paradoxes in business is the fact that credit and cash can go hand-in-hand. This is done by accepting credit cards so that customers can pay more readily, and also by offering merchant accounts.
This works for retailers and wholesalers. This is especially useful when customers are in arrears, but want to purchase more goods.
There are small fees associated with accepting a credit card payment, but considering the fact that many customers pay more when they use one will make up for it, especially if they can get a deal.
Encouraging new Accounts
Employees who have a stake in the business’ success will be more ambitious. This is especially great for companies offering merchant accounts.
A method for offering cards is to give a bonus to employees based on how many new cards are opened up, and to give customers a discount. It makes it very easy for the employees because they know that they are giving customers a good deal while also increasing their paycheck.
For employees who are need more assistance, there are other great ways to build excellence that will go beyond money.
President’s Reading List
Business owners are known for being avid readers. They read books like The Retirement Maze, by Robert Pascale, and Freakonomics, by Dubner & Levitt.
It may be surprising to some, but there are many low-level employees who are dying to get ahead, and are hungry for the knowledge to do so. However, they do not always know how, and, so, they get stuck in a rut watching South Park to kill the time in between shifts, and the only reading they indulge in are books like Celebrity Team 6 as they escape from merely existing rather than become excellent.
Building excellence takes time, but it can start today by increasing the cash coming in, and helping employees see how it benefits them.