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Atricle Dump - Handling Challenging Situations with a Customer-Focused Mindset
Factoring is an efficient and reliable way of meeting capital needs of the business. It is beneficial when a business promises to have definite profits in future but faces capital deficit to get the project completed.Factoring Fundamentals: Principles that govern factoring are same as those governing bank loans, credit cards and other such lending methods. The basics of factoring are divided into two main practices. When a factor purchases an estimated value of the future account receivables it is known as non-recourse factor practice. In non-recourse factoring the factor bears the bad debt risk and the business owner is required to pay interest to the factor for the period specified in the factoring agreement.T
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback
The typical life cycle of a bookkeeper’s clientele is rather simple. A bookkeeper just setting up shop on their own will take any clients they can get in order to get started. At this stage, any income is good income. As time goes by and referrals grow, a bookkeeper who’s good at what he does will have more and more clients knocking on the door. There’s a limit to how much any one person can do, and most bookkeepers are one-person shops. As the workload increases, which it will for good bookkeepers, earlier clients may be discarded if they don’t meet the new standards, as the bookkeeper looks for clients who are 1) profitable, 2) easy or easier to work with, 3) able to pay within terms, and 4) reliably consistent.It’s
• A customer who is upset about the quality or delivery of our product/service.
• A product return or a cancellation of services.
• Incorrect information given to the customer.
• A customer who is negative toward your company due to past experiences.
• Confrontational issues and conflict.
• Angry customers.
• Explaining a company policy or procedure.
• Fielding a request to escalate a call to management.
The ultimate goal in these challenging situations is to provide a win-win solution. We want our customer to leave the interaction feeling listened to, well taken care of, and valued. A customer-focused mindset will have a tremendous impact on accomplishing these goals. Along with customer focus, an invaluable tool for dealing with challenging situations is the Five-Step Process.
The Five-Step Process
Have you ever been an upset customer, calling your product or service provider with a serious problem? If you receive a satisfactory resolution AND you feel listened to, well taken care of, and valued during your interaction, aren’t you likely to consider doing business with this company again? The Five-Step Process will help us to provide our customers with this positive experience. Aside from reaching a win-win solution, the goal of the Five-Step Process is to leave our customers feeling listened to, well taken care of, and valued. Let’s examine the specific steps of the Five-Step Process.
Step 1 – Strategize
How do you develop a strategy?
• Develop your goal for the interaction. What do you want as the end result? (i.e., save the customer, resolve an issue, etc…)
• Identify your parameters: what can you do or provide the customer independently or with your supervisor’s approval? What CAN’T you do because of policy or business reasons?
• Prepare by identifying common problems and win-win solutions.
Your strategy should be to arrive at a solution that will be a win for both your company and the customer. If you are successful, you will retain the customer, exceed the customer’s expectations, and provide a very positive customer experience so that he/she will want to continue doing business with your company.
Step 2 – Acknowledge
The acknowledgement is essential to communicating in challenging situations. Use phrases like, “I understand how you feel”, “I see”, “I apologize”, “I am sorry”, “I can see how you might feel that way” so that customers feel that they have been heard and that we respect them. It clears the way for us to move forward by helping diffuse the emotion and placing us on the side of the customer.
Step 3 – Clarify
Sometimes we mistakenly proceed to resolve a problem based on what we THINK the customer was saying. This third step of the process allows us to clarify and draw out information to make sure that we understand the customer’s true concern. Examples of clarifying might include:
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback i
Having problems in creating your own merchant account? Are the expenses needed in order to pay for these accounts too much for you? Then do not worry because there are companies called third party companies that are willing to help you get the account you need.By applying to these third party companies, you will be able to process credit card transactions without even having your own merchant account. There are numerous third party companies that can offer you good rates, unless of course you fall under the "high risk" category. Applying for high risk accounts is not easy, and if you do get accepted, you will be charged very high rates.Obtaining your own third party accountGetting this kind of account is
The Five-Step Process
Have you ever been an upset customer, calling your product or service provider with a serious problem? If you receive a satisfactory resolution AND you feel listened to, well taken care of, and valued during your interaction, aren’t you likely to consider doing business with this company again? The Five-Step Process will help us to provide our customers with this positive experience. Aside from reaching a win-win solution, the goal of the Five-Step Process is to leave our customers feeling listened to, well taken care of, and valued. Let’s examine the specific steps of the Five-Step Process.
Step 1 – Strategize
How do you develop a strategy?
• Develop your goal for the interaction. What do you want as the end result? (i.e., save the customer, resolve an issue, etc…)
• Identify your parameters: what can you do or provide the customer independently or with your supervisor’s approval? What CAN’T you do because of policy or business reasons?
• Prepare by identifying common problems and win-win solutions.
Your strategy should be to arrive at a solution that will be a win for both your company and the customer. If you are successful, you will retain the customer, exceed the customer’s expectations, and provide a very positive customer experience so that he/she will want to continue doing business with your company.
Step 2 – Acknowledge
The acknowledgement is essential to communicating in challenging situations. Use phrases like, “I understand how you feel”, “I see”, “I apologize”, “I am sorry”, “I can see how you might feel that way” so that customers feel that they have been heard and that we respect them. It clears the way for us to move forward by helping diffuse the emotion and placing us on the side of the customer.
Step 3 – Clarify
Sometimes we mistakenly proceed to resolve a problem based on what we THINK the customer was saying. This third step of the process allows us to clarify and draw out information to make sure that we understand the customer’s true concern. Examples of clarifying might include:
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback
While it seems like we would never come to the end of our medical billing series on electronic billing using NSF 3.01 specifications and the GU0 record, we have finally come to the last few fields. In this installment, we introduct a new CMN field type with its own special rules for filling it out, as if things weren't complicated enough already. We pick up our review of the GU0 record with field number 69.Before we start our review of the field itself, we need to discuss the actual data type this field introduces. The previous fields for this CMN have either all been alpha numeric or numeric. This field is a percentage field. Where billers get into trouble with this field, is that it is a four position field. Th
Step 1 – Strategize
How do you develop a strategy?
• Develop your goal for the interaction. What do you want as the end result? (i.e., save the customer, resolve an issue, etc…)
• Identify your parameters: what can you do or provide the customer independently or with your supervisor’s approval? What CAN’T you do because of policy or business reasons?
• Prepare by identifying common problems and win-win solutions.
Your strategy should be to arrive at a solution that will be a win for both your company and the customer. If you are successful, you will retain the customer, exceed the customer’s expectations, and provide a very positive customer experience so that he/she will want to continue doing business with your company.
Step 2 – Acknowledge
The acknowledgement is essential to communicating in challenging situations. Use phrases like, “I understand how you feel”, “I see”, “I apologize”, “I am sorry”, “I can see how you might feel that way” so that customers feel that they have been heard and that we respect them. It clears the way for us to move forward by helping diffuse the emotion and placing us on the side of the customer.
Step 3 – Clarify
Sometimes we mistakenly proceed to resolve a problem based on what we THINK the customer was saying. This third step of the process allows us to clarify and draw out information to make sure that we understand the customer’s true concern. Examples of clarifying might include:
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback
High prices of furniture and office equipment are the most common obstacles any start up or home-base business face. With the current trend of setting up home businesses, it is still important to maintain a degree of functionality and professional appeal to your home office. After all, clients might want to meet with you at your office and you surely don't want them to see you slump in your kitchen chair. They may not want to close deals on the counter top or the kitchen table. They surely cannot wait until your city office has been fully set-up and furnished. Buying furniture is only a practical option if you intend to keep your business at home forever. But if you're waiting for the set up of your true office and want to ke
Step 2 – Acknowledge
The acknowledgement is essential to communicating in challenging situations. Use phrases like, “I understand how you feel”, “I see”, “I apologize”, “I am sorry”, “I can see how you might feel that way” so that customers feel that they have been heard and that we respect them. It clears the way for us to move forward by helping diffuse the emotion and placing us on the side of the customer.
Step 3 – Clarify
Sometimes we mistakenly proceed to resolve a problem based on what we THINK the customer was saying. This third step of the process allows us to clarify and draw out information to make sure that we understand the customer’s true concern. Examples of clarifying might include:
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback
By attending to an effective, well-structured Business Improvement Program (BIP), business owners are able to learn elaborate, reliable marketing and business management techniques with minimal time and effort. A solid, coherent Business Improvement Program can easily make the difference between a poorly managed, low-rewarding, average business and a prosperous, lucrative, well-run business with long-term prospects and well-established goals and objectives. Business Improvement Programs are appropriate for both small and extended business owners, providing program attendants with a set of comprehensive materials that account for all the relevant aspects of a prosperous, successful business.There are various reliable tr
• “What I hear you saying is……is that right?”
• “Can you tell me more about…..?”
• “How may I help you….?”
• “What were you hoping would happen…?”
Clarifying leads us to the appropriate solution in a more efficient manner.
Step 4 – Present Resolution
The fourth step is to present a resolution. Presenting a resolution is not a challenge if we’ve done the first three steps properly. As we present the resolution, we want to state specifically what we are going to do for the customer. We may also offer alternatives. Note: As we discussed in Step 1: Strategize, it is critical to understand your parameters – what you CAN do for the customer and what you CAN’T do.
Step 5 – Checkback
The checkback is our opportunity to make sure that the customer is satisfied and feels good about the resolution.
Examples of checkbacks include:
• “How does that sound?”
• “What do you think about x?”
• “Are you with me?”
• “Does that make sense?”
• “Will that meet your needs?”
• “Would that be satisfactory?”
Applying the Five-Step Process
The following example illustrates a customer-focused approach, using the Five-Step Process.
Step 1: Strategize: Our strategy is to retain the customer whenever possible. We want to provide the customer with a positive experience while balancing both the business and customer needs. We don’t want to simply accept return merchandise since we know we will lose the customer. A customer calls to complain about the quality of the product he received.
Step 2: Acknowledge: “I apologize that the product was not of the quality that you expected. I understand your frustration. I can help.”
Step 3: Clarify: “In order for us to improve on the quality – and for me to better serve you, may I ask what specific areas were of poor quality?”
Step 4: Present Resolution: “We would be happy to exchange the product for a similar product of higher quality.”
Step 5: Checkback: “Would that be satisfactory?”
Depending on the customer’s responses, we may actually have to go through the Five-Step Process many times during one customer interaction. The Five-Step Process will help you to avoid becoming argumentative by lessening the conflict and opening dialogue with the customer. It will assist you in providing a more positive customer experience.
Terence R. Traut is the president of Entelechy, Inc., a company that helps organizations unlock the potential of their people through customized training programs in the areas of sales, management, customer service, and training. Terence can be reached at 603-424-1237 or ttraut@unlockit.com. Check out Entelechy's website at www.unlockit.com.
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