At the end of the day, the goal of every small business owner is to please his or her customers. This may seem obvious, but maintaining a high level of customer satisfaction is no walk in the park.
Sure, you can’t afford to take your eye off the quantitative side of your business, which includes things like payroll, taxes and keeping costs down. But your approach to customer service, as qualitative as it seems, is just as important. It’s about being the source of that great feeling, the one your customer gets from going to you instead of the other guy.
So how do you know that all your efforts are contributing not only to the bottom line, but are also keeping your customers happy? As Luxelab co-founder David Abrams explains below, the best metric you have for each is your numbers. Each extra zero at the end of his reports, says David, is a numeric measurement for customer happiness.
As Luxelab is a Los Angeles franchise, David and his partner Jason Lara have multiple specialty salons to keep track of. For this reason, the only way to measure customer satisfaction is through thoroughly accurate bookkeeping. This requires a dependable team of support that includes an office manager, a controller as well as a qualified tax accountant. This trio generates a constant stream of information that allows David and Jason to make daily in-depth analyses of the fiscal health of their business.
When it comes to measuring customer happiness, there are no better tools at your disposal than a qualified CPA and the proper bookkeeping software. Cash flow is the EKG line of your business’ wellbeing, so make both qualitative and quantitative efforts to boost it. Those who can manage their finances responsibly will be able to see how effective their product or service has been, and how successful it will be in the future.