I am thinking of starting a company. Many people have cautioned against the perils of going with venture capital. So initially start small and then grow big.
My question: what if I am not able to cater to customer demands. What if there is delay in service which may frustrate them to the end they never return to the company. Apart from that it is also said that, a negative comment spreads faster than a positive one. An example would that be of Deccan360 which have suspended their operations currently.
Would you as a customer do business with the company again which may have failed to fulfill their promises in the past. Think and then answer.
- i would never do business with a company that has failed
- vc is the best thing that can happen to entrepreneurs
- please read - http://rodinhood.com/Indian-Retail-Service
Bharat, customers do forgive you. They are as human as you are or as anyone is. By the way, we differ with Alok sir here. We would do business with a company that has failed. No human in this world has moved ahead without having a failure.
However, the underlying condition is that you have to be clear and genuine in your efforts. And we say this from our personal experience. In February this year, we decided to do something no one dreamed of. Breaking the vicious chain of the mandis and reach out to customers directly with our Alphonso mango. By April first week, we readied our website and jumped in with a promise of home delivery from our orchard in Devgad, to homes. (We are a co-operative society of Alphonso mango growing farmers in Devgad, district Sindhudurg in the Kokan region of Maharashtra). First we promised home delivery, but we were not able to give it. We said to people that please register, and you will be the first ones to get to know when we begin deliveries. However, our messages were not able to reach all people when we began deliveries. This did piss off some people. But we did not hide anything. Any problem we had, any mistake we did, we declared publicly and apologized to people and said we own it and build on it.
And this paid off. Customers supported us whole hearted. Have a look at our website www.devgadmango.com and our posts and customers' comments on blog.devgadmango.com. In fact, people also came forward to help us. Have a look at third party recommendations that other websites wrote about us.
We did make mistakes, we did have to delay services and there are negative comments on our blog. But we handled them and clearly explained our points. Check out the comments on http://www.facebook.com/devgadmango.
We will do business with a failed company provided they have genuinely made efforts and not fooled anyone, willing to own up their mistakes and take steps to build up on it.
Our opinion to you is that you can get in bindaas and not worry of a customer backlash if, your efforts are genuine. Be clear and open in your communications towards ur customers and they will support you.
Here is some advice about treating your customer we got in our inbox.
Treating a consumer as a moron, who doesn’t understand what you’re trying to tell or sell her, will not take you, your message, and your business anywhere. But start treating her as your wife and you’ll be laying the foundation of a long-lasting relationship.
"what if I am not able to cater to customer demands"
It is always a good problem there is a customer demand for a particular product,You aren't able to meet it,good to hear that there is demand for the product.
According to me If the product is new It is very hard to convince the consumer and generate a demand for it,So it always good to have demand
This is world of competition,Its not the issue of customer forgiving for delay in service/ Delivery of the product It Just means you have lost the business to some one else.
To reduce happening this Marketing place a vital role Assessing the location,Marketing in desired location targeting specifically for that location then delivering the service then move onto next location
"negative comment spreads faster than a positive one"
negative comments I always felt this as an efficient marketing tool , Just Believe that negative or positive views its still results in effect marketing and make people aware of the product in the market, It becomes a type of publicity of the product its how good you handle it out and no one has said that you cannot change the negative views into positive ones later
Customer Do forgive Because customer understands the initial stage of any company results in Drop of service levels.
You haven't defined the business yet - there are perils with not having enough cash, so I don't believe it's fair to ask us to dismiss VCs unless you can tell us what other options you have?
We've all bought products from every brand - a internet connection, ordered a book online, went to a restaurant, etc etc. Every company or product has a problem in some transaction or the other. If they don't resolve the issue fairly with me, or I feel their support is terrible, I will stop going to them.