February 29Company Transition – Why Sell?
Got bored with hosting? Not reaching your targets? Think you could as well be doing something else? But worried that you are committed to your clients for atleast another year and that your current bank balance will not let you run the servers for another year without any new sales, and sales will increase the term of your commitment?
Sell your company. Waaaat? Sell my company? I spent days and nights together in building up the brand and the client base. My clients know me induvidually. How do I sell my company? How would I make sure that the buyer treats my clients well? How do I make sure that the clients dont miss me?
No big deal. Selling a hosting company is not like selling a Jaguar. If you dont do it in the scale of Hostgator, Dream Host or others, you shouldnt have tooo many clients. Because, if you had tooo many clients, you wouldnt get bored and wouldnt want to look for something else right? Well, lets Imaging you have about 10,000 clients till date. All happy clients, but unfortunately, you did some overselling, and they are all costing you too much now, and you are planning to sell of the whole thing before you get into a loss.
In that case, look for some other company that is in your same scale. About the same number of clients, about the same number of sites, and about the same page rank as yours. Dont even go near the bigger companies with an offer, and they will eat you up and you would get nothing in return. Approach them and negotiate the cost per client that you expect in the sale. You have put in effort and money to bring those clients in and use your servers right? They are worth money to you no matter how close they are to you and how you have been like brothers or sisters.
Once the negotiation is done, just hand over the servers to them, close down everything, and ask them to take care of the bills, collect your money, and walk away. After about a month, mail all your clients thru a mailing list, and tell them all GoodBye, and that a new management has been running the company for the past 3 months.
Reading this, the clients would be pleased and would certainly continue happily if they had not faced any problems during the transition. If they had, and if you send out a mail, there is going to be trouble.
Never tell your clients before hand that you are about sell your company away, and that would start the reduction in the number of people who would contact you for renewals r anything at all, and that would redue your cost per client.
Or, if you think that your company doesnt have any money, and that if you stop now the clients who have paid you might get affected, you immeidately need to contact those bigger fishes, and ask them to take over the clients. They have a stanard rate of $10 per client, so if you have about 1000 clients, you get $10000 out of it, but your brand will be totally gone, and youwill not be allowed to use that in the future.
February 29Mystery Shopping
What is the best way to find what your clients really think about your service? How do you find out how your staff behave really, in your absense? You need to make sure that your staff work as you have trained them, and that they are following their guide lines in customer service. Otherwise, the whole point is lost if you have set up an exclusive service or a showroom.
The best way to do this would be thru mystery shopping. There are organizations that provide secret shopping solutions, customer feedback and reviews so that you can get updates on what exactly is happening in your organization and how your clients are being served.
The mystery shopping companies hire common people who will be doing the shopping, and will be filling up a questionare either prepared by the organization, and they are compensated for the quality of their reviews.
This service will be suitable for companies that run a chain of showrooms or related types of businesses.
February 29PR Down
I was checking the PR of all my sites for the past few days, since I didnt have the clear information on when the next PR update would be from google’s end. And this morning I was shocked to find out that the PR of ravisblog.com has gone down to 2 from 3.
I forgot to link my site on other’s. And I when I check for the linkbacks, I find that only my brother has linked to my site.
The PR of Indyahozting.com remains at 2, Has there been a page rank update by google?
Custom Hot Rod builder Boyd Coddington has died here in Southern California; he was 63 years old.
Many people might wonder why I am writing about this on the Biker Law Blog, well I have admired Boyd’s work for many years, and he built great cars. Many people recently became familiar with Boyd Coddington on his reality TV show “American Hot Rod,” however in the custom car and hot rod world, Boyd Coddington was a local and national legend.
When I heard that he passed away last night at Presbyterian Hospital in Whittier, I was shocked. He was definitely on top of his game. I do not know the cause of his death, nor has it been announced.
Many fabricators were trained by and/or came out of Boyd’s shop including motorcycle builder Jesse James, and customizer Chip Foose.
Southern California and the world will truly miss this legend.
Boyd Coddington, Rest In Peace!
By Norman Gregory Fernandez, Esq., © 2008