Entrepreneurs everywhere all strive to build successful businesses. Some achieve this goal. Most fail. Millions of new businesses are started every year in the United States. However, less than 5 percent of them are still in business a year later. Even fewer are still in business five years later. The percentage continues to go down as the number of years increases. Some small businesses do shut their doors for understandable reasons, such as owner retirement, decline in product demand or steep lease increase. However, most businesses fail because they put too much emphasis on profit.
This may seem counter-intuitive. After all, aren’t all small businesses supposed to make money for their owners? It’s true that no one goes into business with the goal of losing money. Profit has to be part of the picture. However, when profit becomes the sole focus of the business, things start to go wrong. Examples include:
- Trying to save money by buying inferior materials to be used in the business’s products and services.
- Taking on too many orders or clients at once, resulting in overall lower quality and slower service.
- Increasing business hours to such an extent that owners and workers become burned out.
- Over-billing clients and customers.
These are just a few of the most common mistakes businesses make in putting profit above business sustainability. Each of these and similar scenarios result in a poor customer experience. Those customers likely won’t come back. They will also tell their friends and family to stay away. This is a recipe for business failure.
A successful chain of independently owned auto glass replacement and repair shops in Arizona is leading by example, showing other entrepreneurs how to avoid these pitfalls. NewImage Auto Glass LLC is owned and operated by local businessman and philanthropist Rex Altree. Altree is working to make a profitable business like any other entrepreneur. However, he goes about it by focusing on the customer rather than on profit. Rex Altree has discovered the secret to success as an entrepreneur. When you put the customer first, the profits will follow.
NewImage Auto Glass is committed to providing an exceptional customer service experience for all clients. Rex Altree of Gilbert has trained his personnel to focus on treating the customers right and providing them with top service. The results speak for themselves. Customers leave his business happy and they provide word-of-mouth advertising by recommending NewImage Auto Glass to their family and friends. This way of doing business has enabled Rex Altree’s business to thrive and expand for more than a decade.