Finance Coach - Vol. 6

Here's a copy of the message sent from my Facebook group - Finance Coach (by Gareth Cotten)...

Finance tip: Shopping

Cars and other big-ticket items. For those of you fortunate enough to be looking at buying a new car (or similar big purchase) in the foreseeable future, there is a definite strategy to ensuring you increase your chances of getting it at the best price possible. The best trick in the book is to go out, having done your homework before, in the last few days of the month, with your chequebook in hand. At this time of the month, sales staff are pushing to meet their targets, and are more likely to drop their prices to secure a sale. To get the absolute best deals, do this, but at the end of the dealer's financial year - they want to get stock off of their floor to make their books look better (which gets them better terms with their banker for the coming year). And most importantly, when negotiating with them, make it clear that you are prepared to walk away from the deal - you'll be amazed at how much of a jolt that gives them...

Business tip: Customer service

Get out on the floor. If you, or members of your management team, have been receiving reports of a drop in customer service standards, or drops in sales, get back onto the floor, and in your customers' faces. The companies with the best customer service records, and brand loyalty, have an ongoing process of sending managers and senior execs back out into the front-lines of the business. This will improve feedback from customers, and help them to see and understand issues brought up by both customers and front-line staff. It could result in an epiphany for streamlining your systems and/or operations, but at the very least will put your senior staff back into the loop, and help them to keep a finger on the pulse of the business.