Hi everyone,
i have a friend that begun a website business in 1996. It did so well and it one time became one of the top service providers in the country. However he left the country in 2002 and since then it has been hell for the company. He left here people that used every chance they got to milk the business dry.
Because of his absence, the customer relationship went haywire. The business lost clients and no one seemed to care. What used to be a business managing 100+ clients now has 60 or less.
About 2 months ago we talked about it and he told me how he was fed up and he wanted to sell. I told him it's not too late to turn things around but he was strong on the point of having to close down his business.
Because i saw the potential this business can bring, i decided to buy the business from him. I am still young and i know VERY little about business. i dont quite know where to begin but i know i am a very sharp and brilliant person ready to learn. But do i have the time?
I want to focus first on mending the client relationship. I want to keep the clients the business has right now. But that will take a lot i guess.
I need advice from all the young entrepreneurs out there. What can i do and what can i do right? Should i hire people and if so how many? Should i think about CRM systems or spread sheets will do for now?
How should i approach my clients. How do i let them know that i will do a better job than my predecessors?
Any information will be highly appreciated and i hope my interaction with youngentrepreneur will help me a big deal!
Thanks!