This is the second part of a blog about the business opportunities you can be presented with and what to do about them..

One of your customers has been through a hard time due to a foul up, whether he is aware of it or not.

This is often one of the most awkward situations a business owner or manager faces. It is embarrassing to have to contact a customer and acknowledge that your business made an error. However, a good opportunity exists in this scenario. How, you ask? When you take the time to personally call or visit the customer, provide the details of what happened, and explain the measures that you are taking to resolve the issue and prevent its reoccurrence, you are demonstrating that you care.

Owning up to a mistake shows the customer that you do monitor quality and that you have enough integrity to not simply “shift the blame”. If you handle the situation humbly, honestly, and professionally, you provide your customer with the knowledge that this is type of business you have. Mistakes withstanding, the customer can trust that if something happens again, you will make him aware of it and you will correct it.

A customer needs a favor from you.

Occasionally, it happens that one of your customers needs a favor. Maybe he needs you to look at a product he distributes or he wants you to sponsor an event. Whatever the case may be, if reasonable, you should do it. When you respond favorably to a customer’s request for a favor, you create a connection. This type of connection can increase the exposure of your business and may have the power to translate into an opportunity of synergy.

Synergetic opportunity is a name given to those relationships whereby one helping the other reduces costs for both. When you respond favorably to a customer’s request, you create a synergetic opportunity, be it through marketing (i.e. in the case of sponsorship), increasing your customer base (i.e. through a complimentary producer- a wine shop with a cheese shop), or word-of-mouth (i.e. in the case of product distribution).

You see your customer in public.

Seeing your customer in public is a great chance to make a connection and is a wonderful opportunity to turn him into an advocate. Odds are, if you see a customer in public, you are somewhere that would indicate a common interest, be it the same supermarket, bank, pub, or event.

Maximize this situation by being friendly, but professional. For example, if you are an accountant and a you see a customer out and he asks, “How have you been?” you would never say, “I have been so swamped lately.” Instead, you would say, “Things are really getting busy with it being so close to tax time. You should stop by sometime and get it out of the way.” Also, always be sure to introduce yourself to your customer’s companions- not only is it polite to do so it provides an opportunity for referral.

Your customer brings in a referral.

Many people often overlook this scenario. Your customer hands you a business card and says, “I think my buddy here might be interested.” You either end up cold-calling the guy or throwing the card away because it feels awkward. Well, it feels awkward because it is. Instead, ask the customer to arrange a lunch or coffee meeting between the three of you, or simply ask your customer to bring his friend into the shop sometime. Explain simply that you prefer having a personal connection with your customers. Your current customer will also feel more valued.

Secondly, reward the referral. If a customer brings you new client, send him a gift basket or give him a discount. Whatever you choose to do, make sure that it is a personal acknowledgement of his referral, a sort of tangible “Thank you” in addition to your verbal one, of course.

The fact is that you can turn just about any situation into an opportunity through stellar customer service, a friendly and personable manner, and good business practices, such as honesty, ownership for mistakes, and acknowledgement.

Renee O'Farrell