Avionics News December 2014 - 50

BUSINESS BASICS

Continued from page 49

load, as well as current and total debt
to net worth, which both can limit
restructuring. If you're having cash
flow issues, work to collect accounts
receivable faster, before accounts
payable are due. But know, too, that
delays may suggest a customer-service
issue; disgruntled customers may go
passive-aggressive on their bills until
they're made happy.
6. Attack criticism online. You've
been panned in a Twitter post or an
Internet review site such as Yelp.
com. Before you respond in a tirade,
recognize that reviewers usually
make negative comments because

they have legitimate problems or
misunderstandings. In fact, online
feedback is a gift that can help you
improve your business, especially
when you actually fix the problem
behind this symptom.
So you do need to respond
appropriately. Cool off, formulate
a big-boy response, and reply with
an apology and gratitude. Engage
the complainer both on the site and
privately, and make an earnest effort
to correct the problem transparently.
Anything else will convince other
readers that the complaint was true
- especially if you get into a public,
online argument over it. But handle
this right, and you might win a
customer for life.

EXCHANGE INVENTORY

GIS supports our customers with an impressive inventory of components and piece
parts that provides added value to our service relationship. Broad capabilities, competitive prices, high-quality workmanship, quick turnaround time and service. GIS personnel have the ability to meet that challenge to exceed customers' expectations every day.
That's why customers depend upon GIS full services, from testing, overhaul,
and repairs to exchanges and outright sales.
Try us, you'll be glad you did!

GEORGETOWN INSTRUMENT SERVICES
FAA CRS# GTNR482X * 210 Airport Road * Taylor, Texas 76574

512-352-9000

www.georgetowninstruments.com
50

avionics news

*

december

2014

GIS Ad Five
Sep 14, 2008

If you want people to talk about
how awesome your avionics shop
is, you must actually be awesome. If
you listen and intervene when things
go wrong, customers will talk about
you when things go right, too.
7. Do it yourself. Employees
are expensive, but so are missed
opportunities when you're doing
work that's below your pay grade.
Indeed, you can't work on your
business when you're working in it,
according to Bill LaMarche of the
LaMarche Consulting Group. When
there aren't enough hours in the day,
you don't have time to return calls,
keep promises or start new projects.
The solution is to learn to delegate
better to your employees or hire
more help - whether it's full time,
part time or outsourced.
If you're a small avionics
shop - or your full-timers don't
have bandwidth beyond your core
business to take on new projects
- the third option might be your
best bet. The most common jobs
outsourced are bookkeeping,
accounting, payroll, human resources
(particularly background checks),
personal assistants and IT. You
also can outsource your marketing,
including writing, editing, design and
even social media. Collect referrals
from your network, and write clear
contracts that explain exactly what
performance you expect so you don't
have to micromanage. Of course,
working smarter will cost you; your
first task is to create enough value
in the relationship that you get a
return on your investment, but that is
success you can build on.
It doesn't take all seven of these
mistakes to turn your luck. Just one
will do it - or it might be something
else you discover on your own. Keep
a tight rein on your avionics shop,
adapt, and plan for the future. q


http://www.georgetowninstruments.com

Table of Contents for the Digital Edition of Avionics News December 2014

Point of Communication
AEA Now
The View from Washington
International News and Regulatory Updates
Head-up Displays offer a Look Ahead
Member Profile
The Age of Unmanned Aircraft Systems
A Conversation With...
Member Profile
Garmin Debuts Low-Cost ADS-B Solution
What's Working?
Business Basics
Before & After
A Conversation With...
AEA Members make news at NBAA Convention
What's New
Marketplace Classifieds
Avionics News December 2014 - Intro
Avionics News December 2014 - Cover1
Avionics News December 2014 - Cover2
Avionics News December 2014 - 1
Avionics News December 2014 - 2
Avionics News December 2014 - 3
Avionics News December 2014 - Point of Communication
Avionics News December 2014 - 5
Avionics News December 2014 - AEA Now
Avionics News December 2014 - 7
Avionics News December 2014 - 8
Avionics News December 2014 - 9
Avionics News December 2014 - 10
Avionics News December 2014 - 11
Avionics News December 2014 - 12
Avionics News December 2014 - 13
Avionics News December 2014 - The View from Washington
Avionics News December 2014 - 15
Avionics News December 2014 - International News and Regulatory Updates
Avionics News December 2014 - 17
Avionics News December 2014 - 18
Avionics News December 2014 - 19
Avionics News December 2014 - Head-up Displays offer a Look Ahead
Avionics News December 2014 - 21
Avionics News December 2014 - 22
Avionics News December 2014 - 23
Avionics News December 2014 - Member Profile
Avionics News December 2014 - 25
Avionics News December 2014 - 26
Avionics News December 2014 - 27
Avionics News December 2014 - The Age of Unmanned Aircraft Systems
Avionics News December 2014 - 29
Avionics News December 2014 - 30
Avionics News December 2014 - 31
Avionics News December 2014 - 32
Avionics News December 2014 - 33
Avionics News December 2014 - A Conversation With...
Avionics News December 2014 - 35
Avionics News December 2014 - Member Profile
Avionics News December 2014 - 37
Avionics News December 2014 - 38
Avionics News December 2014 - 39
Avionics News December 2014 - Garmin Debuts Low-Cost ADS-B Solution
Avionics News December 2014 - 41
Avionics News December 2014 - 42
Avionics News December 2014 - 43
Avionics News December 2014 - What's Working?
Avionics News December 2014 - 45
Avionics News December 2014 - 46
Avionics News December 2014 - 47
Avionics News December 2014 - Business Basics
Avionics News December 2014 - 49
Avionics News December 2014 - 50
Avionics News December 2014 - Before & After
Avionics News December 2014 - A Conversation With...
Avionics News December 2014 - 53
Avionics News December 2014 - AEA Members make news at NBAA Convention
Avionics News December 2014 - 55
Avionics News December 2014 - 56
Avionics News December 2014 - 57
Avionics News December 2014 - 58
Avionics News December 2014 - 59
Avionics News December 2014 - 60
Avionics News December 2014 - 61
Avionics News December 2014 - 62
Avionics News December 2014 - 63
Avionics News December 2014 - What's New
Avionics News December 2014 - 65
Avionics News December 2014 - 66
Avionics News December 2014 - 67
Avionics News December 2014 - 68
Avionics News December 2014 - 69
Avionics News December 2014 - Marketplace Classifieds
Avionics News December 2014 - 71
Avionics News December 2014 - 72
Avionics News December 2014 - Cover3
Avionics News December 2014 - Cover4
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