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You Need Customer Loyalty, Not Just Satisfaction

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your price is not the lowest.

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Customer Loyalty Can Be a Startup Competitive Edge

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your price is not the lowest.

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8 Tasks To Prepare You For Starting Your Own Business

Startup Professionals Musings

To keep you out of this statistic, I recommend the following steps to all aspiring business owners as they step into this new and exciting world of managing your own business: Solidify your funding plan before you start spending. These are necessary to attract customers, investors, and give you a line of defense with competitors.

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10 Startup Founder Decisions That Have No Good Answer

Startup Professionals Musings

That’s not an attractive statistic if you crave control and power. Your great idea for the next Facebook may make you wealthy, but it probably won’t help the hungry. Should you start a company solo or find co-founders to help you? You can’t have it all, just like your startup can’t be all things to all customers.

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10 Startup Quandaries That May Redefine Your Business

Startup Professionals Musings

That’s not an attractive statistic if you crave control and power. Your great idea for the next Facebook may make you wealthy, but it probably won’t help the hungry. Should you start a company solo or find co-founders to help you? You can’t have it all, just like your startup can’t be all things to all customers.

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Scaling a Business by Cloning Yourself is Tough

Startup Professionals Musings

But recently I was asked about success factors for services startups, and I quickly realized that there is very little published to help the thousands of startups that fall in this category. Customers don’t like people who don’t show their passion and love for the job. Customers don’t like to see you learning on the job or outsourcing.

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7 Strategies For A Low Entry-Cost Sustainable Startup

Startup Professionals Musings

Statistics show that the failure rate for new businesses within the first four years is fifty percent or greater, even with companies that have a large startup budget. Having a website won’t help if customers can’t find it. Use social media to actively engage with your customers. Manage cash flow personally every day.