INSTANT MBA: Bad Reviews Can Boost Business In A Big Way

Today's advice comes from Matt Matt McCormick JCD Repair McCormick, owner of JCD Repairvia the New York Times:

“Someone could make an argument that if you have an unhappy customer, it would be bad to do what we do — point them at review sites...But in all honesty, a bad review here and there not only helps you look more credible, it can also give you very valuable feedback on what you’re doing wrong. Lastly, it also gives you a chance to set the situation right with the customer.”

In today's world, where social media reigns, following up with customers and directing them to web sites where they can write business reviews after sales can be a win-win situation. McCormick, the owner of an iPod, iPad, and Android repair shop, sends all customers a follow-up e-mail two weeks after a sale to make sure they're not experiencing problems with their devices, and to encourage them to review their experience at JCD. 

This practice of garnering reviews can help a company's credibility, thereby generating new business. According to the Times article, there are also unintended consequences of this practice. When an employee knows that a customer will likely write a review, he or she may think twice about the service provided during the initial sale. 

Even bad reviews have merit; with this knowledge, a company knows when a customer is dissatisfied and can work to fix his or her grievance. Moreover, receiving criticism helps a company recognize its weaknesses and change its practices accordingly. 

Judging by McCormick's experience, people are willing to write reviews for exceptional service. Said the store owner, "it’s really amazing how many people click those links and write reviews.”

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Source: http://feedproxy.google.com/~r/businessinsider/~3/XZElLRZ5gHY/bad-reviews-good-for-small-business-owners-2012-7

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The Cost Of Debt Consolidation

Best Credit Card Consolidation Companies Opting for a debt consolidation can be a great solution if you are looking for a way to settle your debts, get lower monthly payments or maybe low interest rates. Don’t just sign any documents without reading and understanding the terms. Be sure you have read every clause and you [...]

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Source: http://www.legaldebthelponline.com/2012/06/30/the-cost-of-debt-consolidation/

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Woman Tries To Buy Car, Gets Flagged As Terrorist

terroristthreatBack in 2005, a woman in Colorado went to buy a car at her local Subaru dealership. Little did she know she'd spend the next five years trying to convince people she was not a Colombian terrorist. The 60-something accountant said she knew her credit was fine; she'd checked her own report before deciding to [...]

Source: http://consumerist.com/2012/07/woman-tries-to-buy-car-gets-flagged-as-terrorist.html

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Whistleblower Involved In Outing Big Banks Says Keeping It Secret For 3 Years Wasn?t Easy

countrywideNot being able to tell your family why you were out of work and broke for three years would be something most of us couldn't even imagine. One of the whistleblowers involved in the investigation that led to this year's $25 billion mortgage settlement with some of the nation's biggest banks says he had a [...]

Source: http://consumerist.com/2012/07/whistleblower-involved-in-outing-big-banks-says-keeping-it-secret-for-3-years-wasnt-easy.html

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The Farmbelt Drought Story Is Exploding

The farmbelt drought we've been writing about has exploded into the media, as it lead as the top story tonight on the NBC Nightly News (via @ivanthek).

In the report: NBC's Brian Williams noting that Governor Pat Quinn is calling this a "disaster of epic proportions."

Visit NBCNews.com for breaking news, world news, and news about the economy

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Source: http://feedproxy.google.com/~r/businessinsider/~3/1Oc40-OjboY/illinois-governor-declares-drought-a-disaster-of-epic-proportions-2012-7

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Fiat Wants You To Make A Nice Steaming Hot Espresso From The Comfort Of Your Car

fiatespressocar1Just think of  those times you actually had to stop and buy hot coffee to later spill all over your lap in the car. That's the worst, which is why Fiat is introducing espresso makers in its 500L model, so you can make your own hot beverage in the comfort of your vehicle, to then [...]

Source: http://consumerist.com/2012/07/fiat-wants-you-to-make-a-nice-steaming-hot-espresso-from-the-comfort-of-your-car.html

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How The CEO Of Hootsuite Rescued Me In Aspen

Hootsuite CEO Ryan Holmes and Julie Bort bicycles

I was almost stranded on my bike on the back roads of Colorado today—but for the good graces of Ryan Holmes, CEO of Canadian social-media startup Hootsuite, who fixed a fouled-up chain and got me on my way.

I'm in Aspen, Colo. this week hobnobbing with billionaires and startup CEOs at Fortune's Brainshare conference. Monday morning began with a guided bike ride, 50 miles of pedaling on gorgeous roads, guided by a team from Chris Carmichael Training Systems. Carmichael coached Lance Armstrong and a host of other Olympic and Ironman champions. (He was supposed to be part of today's ride, but he didn't show up.)

I kind of crashed the party. The ride was sold out, but since I live in Colorado, and was driving to Aspen, I told the organizers that I would bring my own bike and tag along. I got the OK for that—as long as I signed their liability waiver.

I was one of maybe 50 riders. All but three of us were men. Not surprisingly, most of those guys rode off fast, ignoring the guide's warning that "this is not a race." So I was pretty much pedaling by myself at the start of a 10-mile climb. I shifted down and my chain jumped off the ring. I can fix that, but in this case it wound around the pedal crank and was good and stuck. The Carmichael guys were way ahead leading the ride.

Holmes was pedaling by, and gallantly stopped and fixed my bike. Then he pedaled my slow pace and chatted. We traded tales about how bicycle-friendly our towns are (Vancouver, British Columbia versus Fort Collins, Colo.) Hootsuite, now at about 190 employees, is so filled with bike fanatics that the offices look like a bike shop, he says.  Hootsuite also sponsors a bike team.

I meet a LOT of startup CEOs in this job—so when I say that this guy is really, really nice, I really, really mean it.

Hootsuite makes a tool that helps companies manage multiple social media accounts (Twitter, Facebook, etc.) It can't hurt to be sociable in his business.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/YZyu6ZPCsac/hootsuite-ceo-ryan-holmes-aspen-brainstorm-rescue-2012-7

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Joining Together Credit Card Bills The Correct Way

Bringing together consumer debt comes into play a new range of shapes and forms. Absolute confidence the things your overall pacificdebt.com|pacificdebt consolidation|pacificdebt|pacificdebt loansoverall credit score is therefore how very good involving credit debt you have, you’ll be able to obtain a lending product which can suit your specifications. The following are some frequent strategies that [...]

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Source: http://www.legaldebthelponline.com/2012/06/27/joining-together-credit-card-bills-the-correct-way/

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