- @ScottATaylor Thanks for following me. in reply to ScottATaylor #
- RT @ChristianPF: 5 Tips For Dealing With Your Medical Debt http://su.pr/2cxS1e #
- Dining Out vs Cooking In: http://su.pr/3JsGoG #
- RT: @BudgetsAreSexy: Be Proud of Your Emergency Fund! http://tinyurl.com/yhjo88l ($1,000 is better than $0.00) #
- [Read more…] about Twitter Weekly Updates for 2009-12-12
Reputation Isn’t Everything
- Image by Getty Images via @daylife
I’m a code monkey by trade. Software development pays my mortgage.
I’m also–and separately–a small business owner and have been for years. I’ve actually got several side-hustles going, but only one of them is formal, organized, and incorporated as an LLC. A few years ago, a friend and I decided to go into business together, got certified by the state and start making some extra money.
I have recently discovered that two of the government agencies related to our business have been referring students to us. When our customers call the certifying organization, they are–at least some of the time–recommending us over nearly 200 of our competitors. You can’t buy that kind of marketing. At least, I hope you can’t.
How did that happen? How did two faceless bureaucracies decide that we were the company to recommend?
People talk. Over the last few years, we have worked to make sure people want to say nice things about us. What did we do?
1. We never lie. Our business is training. If one of our students asks a question I can’t answer, I admit it and promise to find the answer. Then, after class, I find the answer and email it to everyone.
2. We are reliable. If we schedule a class and just one person shows up, we hold the class. We have had classes with two instructors and one student. Our hourly rate sucked those days, but the students loved the attention and sent us business afterward. I’d never cancel if even one person is planning to be there.
3. We give it away. We give a lot away. If our customers have questions before or after class, we answer them. I spend time on related forums answering questions. Veterans take our class at cost. I try to give away at least as much value as I get paid for.
Now, this sounds like a sales page, but it’s not. I’m not mentioning the name of my company or even the industry, just so nobody thinks I’m trying to drum up business.
We have dropped a crazy amount of time and effort into building our reputation. With a firm foundation of knowledge and the 3 items I mentioned above, a good reputation is easy to build. A bad reputation is even easier. It’s been said that a happy customer will tell 1 person about his experience, while an unhappy customer will tell 100. Repairing the damage from the unhappy customer is much more expensive than just doing it right the first time.
Building a good reputation is absolutely critical for a successful business. Be ethical, honest, and helpful. Always be there when you say you will be, and try to give away as much as possible without actually hurting yourself. People will talk, so don’t give them a chance to say bad things without being liars themselves.
Reputation isn’t everything. You also need knowledge, marketing, and a product. Without a good reputation, however, the rest doesn’t matter.
Twitter Weekly Updates for 2010-01-16
- Dora the Explorer is singing about cocaine. Is that why my kids have so much energy? #
- RT @prosperousfool: Be the Friendly Financial “Stop” Sign http://bit.ly/67NZFH #
- RT @tferriss: Aldous Huxley’s ‘Brave New World’ in a one-page cartoon: http://su.pr/2PAuup #
- RT @BSimple: Shallow men believe in Luck, Strong men believe in cause and effect. Ralph Waldo Emerson #
- 5am finally pays off. 800 word post finished. Reading to the kids has been more consistent,too. Not req’ing bedtime, just reading daily. #
- Titty Mouse and Tatty Mouse: morbid story from my childhood. Still enthralling. #
- RT @MoneyCrashers: Money Crashers 2010 New Year Giveaway Bash – $7,400 in Cash and Amazing Prizes http://bt.io/DDPy #
- [Read more…] about Twitter Weekly Updates for 2010-01-16
5 Ways to Reduce Temptation and Have a Peaceful dinner
It never fails: you send the kids off to the salt mine babysitter for the evening, cook a nice dinner and light some candles. Then, just as you sit down, the phone rings.
Now you have 2 choices, you can do like me and ignore the phone if it’s inconvenient to answer or you can ruin a romantic dinner. The telemarketers know that, statistically, you are home at dinner time. They don’t care if you are celebrating an anniversary or just trying to connect with your loved one.
Why not preemptively stop the irritation? While you’re at it, stop the junk mail, too. It’s not as hard as you’d think. It’s a simple, almost free process that will not only eliminate the frustration of pointless calls and sorted junk mail, but will also cut down on the temptation of seeing something shiny to buy.
Here are the four steps to a leaner, greener and romantic dinner-making you:
1. Get on all of the Do Not Call lists.
- You can get on the federal list by visiting www.donotcall.gov or calling (888) 382-1222. The tele-sales weasels will have have a month to clear you out of their systems.
- If you still get calls–some calls are still allowed, including political calls, non-profit fundraisers, and surveys–they are still required to maintain an in-house do not call list. Tell them to put you on that list.
- Many states have a Do Not Call list that is entirely independent of the the federal list. This is redundant, but the more roadblocks you put up, the better you will be.
If you are still getting calls, report them to the FTC at:
Federal Trade Commission
Consumer Response Center
600 Pennsylvania Avenue, NW
Washington, D.C. 20580
1-877-FTC-HELP
www.ftc.gov
2. Opt out of junk mail. The Direct Marketing Association manages a list of people who do not want junk mail. This list only applies to members of the association, but most mass-mailers participate. Go to www.dmachoice.org to enroll. It costs $1 to get on the list and will stop most junk mail for 3 years.
3. Opt out of pre-approved credit card offers. Go to www.optoutprescreen.com to remove your name from the lists generated by the major credit bureaus to sell to marketing firms. You can put a halt to this breed of junk for 5 years or forever.
4. Ask them to stop. If you are getting catalogs from a company with which you have an existing relationship, ask them to knock it off. Virtually every one will stop sending you garbage to ensure a continuing business relationship with you.
5. Guerrilla Warfare. If none of this works, there are still a couple of options.
- Keep an airhorn by the phone. They won’t call twice.
- Take everything you receive from a company, stuff it all in the prepaid return envelope they helpfully included, and drop it back in the mail. They only get charged for the prepaid envelopes when they are used, so use them up. It’s illegal to alter them to send mail to other people, but it’s not illegal to mail them all of their own garbage. If you cost them enough money, they will eventually back down.
How devalued dollars can hit you in the pocket
The Bretton Woods Conference started the system now known as fixed rate exchange. After the 1944 conference, theUnited Statesattached dollars to gold with one ounce of
gold equal to $35.
The process changed in the 1970s, due to problems with inflation and currencies from other countries. The financial system of any country relates to the law of supply and demand.
As the demand for currency increases, the system undergoes appreciation. When the demand for currency drops, the system goes through depreciation. A country can devalue its currency based on lower demand.
For example, a country might equate 20 of its own currency for one American dollar. After the market fluctuates, the country devalues its money, making 40 of its currency equal to a single American dollar.
Devalued currency occurs in theUnited Statesduring periods of debt or recession. The government prints more money, which is worth less.
The country must have a way of covering its debts, such as with gold. If the country lacks adequate funds, the paper currency is essentially worthless.
A good example of this occurred during the American Civil War. The Confederates printed its own Confederate money. Once the war ended, the devalued money was worth nothing. Even today, the money only has a slight historical value.
American debt rises when the country goes through a recession or depression.Franceunderwent such a change when the country increased minimum wages and benefits for the working class.
The national debt continued rising and the country had no funds to pay back that debt. Fortunately, comparison sites like MoneySupermarket can help you find the best ways to save and make the most of your money when the value of American dollars drops.
Devalued dollars affect you because it reduces the amount of goods and services you can afford. Even simple things, such as buying car insurance or saving money takes more than it did before.
Devalued dollars increase inflation. As the country pumps out more money, stores and businesses increase prices.
You spend more money on the things you need every day, only to find yourself in debt once inflation ends. TheUnited Statesdevalued the dollar in the 1970s and again in 2001. During the 1970s, inflation hit gas stations particularly hard, leading to markups on gas prices and an overall gas shortage.
The 2001 inflation came with increased housing prices, car prices and food prices. Once the bottom fell out, millions of Americans found themselves further in debt. The devalued dollar affects you because it increases costs.
The value of gold, copper, silver and platinum rises, which in turns increases the prices of any items using those metals. Electronics, vehicles, construction and even jewelry prices increase.
Maximize your dollar amount now by saving money on travel expenses, home utilities and anything else you use on a daily basis. Reduce your overall costs before supply and demand causes a drop in the dollar value.
Anytime you use money, including paying student loan bills or insurance bills, you risk spending more than you should. As the dollar value drops, you will find yourself paying even more.
Brought to you by MoneySupermarket.
Say Please
This is a guest post/reader story from a good friend of mine.
Greetings,
As a long time reader of Live Real Now, I’ve enjoyed the advice and the step by step, “I’ve been there” advice from Jason. Sadly, until now I haven’t really taken much of it. It was too much work. It was too hard. But the recent “Future Me” post really struck home so I looked for something that should be easy.
What I found was the concept of “Call and Ask”. I took a look at all of my accounts and utilities to decide which ones I was willing to change, drop, or reduce. The two I came up with were Dish Network and CenturyLink DSL.
My plan was simple:
- Look for their introductory offers
- Compare to my current price
- Call
- Ask if existing customers are as important as NEW customers
- Finally, be nice!
I started with CenturyLink since I needed to call them for a new modem in anyway. We’ve been with CenturyLink for years and I’ve been paying $34.99 for slow DSL and using it a couple times a week to work from home. Their new customer promotion is $19.99 for the faster service. I’d love to give you my script but I don’t entirely remember what I said. I believe I asked if they would extend the new customer rate to me and for how long. I know I pointed out that I would be out 3-5 days of internet service so now was the time to start trying to lower my bills. The customer service rep was actually pretty cool about it.
“Let me look at your account. We can offer you that rate for 12 months. After that the rate will be $54.99.”
That seems like a short term win for a long term loss, right?
His followup comment was golden: “Call us back in 12 months and see what specials we can offer you then.” So I went into Google Calendars and set myself a reminder 10.5 months from now.
Net effect: $15/month saved.
Next step: Dish Network.
We’re getting the Family Package which is already pretty inexpensive for Dish. Looking around, the new subscriber price was $5 less.
Same plan.
“Hello, I’m a long term subscriber. I see that you’re offering new subscribers the same package for less. Could you extend that offer to me?”
Same response… “Sure, you can have a $5 discount for 6 months.” Again, I set a Google Calendar reminder, this time for 4.5 months out.
Net effect: $20/month saved.
Can this go farther?
I recently purchased 3 pairs of F.O.M work jeans from Duluth Trading Company. Yes, they’re expensive, but they fit and last a long time. I’m not a small guy. (Ed. Welcome to the club!) Anyway, at the time their sale looked good: $10 off each pair when you order 3 or more. Coincidentally, I was down to a single pair after a deer hunting accident. (Don’t tie your jeans into your boots while field dressing a deer. You’ll stretch and then things get a bit breezy.) With $5 shipping, I saved $35 on that order for jeans I needed anyway.
I thought I’d done pretty well.
Fast forward to today where I see 20% off on everything and free shipping. And they’re still offering the $10 off deal I already used. I called Duluth Trading Company, and explained I was VERY happy with their pants and enjoyed the sale but was wondering if they’d please extend the 20% off sale to my prior order since it was so recent.
$23.70 back in my account.
Easy as pie and a polite: “Thank you for offering us the chance to make you happy with the transaction, sir.”
So, 3 nice phone calls, net effect:
Immediate: $23.70 in my pocket
Short term: $30 savings over the next 6 months
Long Term: $180 Savings over the next year
Total Savings: $233.75 for 15 minutes work
