An entrepreneur wears many hats, and as a company grows, certain hats are delegated to other people to wear as a part of their job title. Though entrepreneurs usually start a company as the main point of contact for customers, that changes over time as the duties of a business leader shift towards addressing what comes with company expansion.
If an entrepreneur finds their time spreading thinner and thinner and talking to customers daily is no longer realistic, when should upper management personally contact customers? Here, Ferrari Energy, a successful mineral and leasehold acquisitions company, goes into detail about what messages an entrepreneur should personally reach out to consumers regarding specific information.
1. For Startups’ First Year, Fifty Percent
Entrepreneurs starting up a business should spend at least fifty percent of their time with customers during the first year. As an entrepreneur, the first year can require a single person to act as the CEO, CCO, CFO, and even more. Working as the CCO or chief customer officer means spending time with prospects and customers until someone is hired for the position. However, as a leader in the business, it is essential to truly get to know and understand who the consumers are to build a vision of how best the company will meet the consumer’s need through products or services.
2. After Year One, Twenty-Five Percent
Once a new organization has survived its first year of business, the founder should decrease their contact with customers from fifty percent to twenty-five percent. Still, a business owner should stay highly involved with all customer strategies as well as activities. As the head of the business, staying hands-on with consumers as a new business will help gain new business and customer retention.
3. During the Holidays
Sending out a personally written season’s greeting to customers is an excellent opportunity to thank them for their business and support. It also shows the customer that they are appreciated by all levels of the company, which could lead to more loyal consumers.
4. Negative Events
Suppose anything negative happens within the organization or surrounding the organization that could affect consumers in any way, such as a data breach or negative press. In that case, an entrepreneur should personally reach out to customers and address the matter at hand through transparent communication.
5. During a Crisis
When a crisis strikes, such as the recent coronavirus pandemic, entrepreneurs should reach out to their consumers to express empathy and emotionally connect with customers. Any type of changes that an organization undergoes due to a crisis should also be communicated through the business leader and any other information that might alter products or services.
About Ferrari Energy
Ferrari Energy was founded in February of 2014 in Denver, Colorado, and completely bootstrapped by Adam Ferrari. Since then, Ferrari Energy has grown and conducted business across the United States, in Colorado, Wyoming, Utah, and North Dakota. Its portfolio includes more than 2,500 unique acquisitions that accounted for over $150 million of deployed capital. The acquisitions included minerals on non-operated leasehold, and all the company’s clients consistently received premium value for their transactions.