In hard economic times, take care of customers so they’ll take care of you

As I sit down to write this column, the stock market has lost 13 percent of its value, down some 900 points since April. Major indicators now point to an economy just outside of bear-market territory. In business, as with most everything else, people will see that the glass is either half empty or half full. No matter what conclusion is drawn, there are important actions you can — and should — be taking to retain your customers. Remember the popular rock song from Bachman Turner Overdrive? The lyrics are right on — “Taking care of business, every day. Taking care of business, every way.” Those words could never be more true than they are today. Frankly, when times get tough, you have to pay even more attention to the needs of your best customers. Now, more than ever, or at least in the past few years, you need to keep... [read full story]