Aside from the different business plans, approach and strategies in business, a good businessman must also come up with his own objectives or principles when it comes to his own business. Below are some of the business principles that you might find applicable for your business.
1. Treat everyone with caution. In business, there is no permanent friends and enemies, only permanent cycles. Everyone knows this in business world. The person who helped you now might be the same person to give you trouble in the future and at the same time, your greatest rival today might be the best help you can have tomorrow. Everything is a cycle in business world. You have to treat people with caution and make sure that you are in good terms with everyone. Even with your competitors. The way you treat others is the reputation of your business that you are leaving to the public so be careful with how you treat others and keep a good relationship with everyone.
2. Treat everyone more than their value. This is also true when it comes to customer service. You have to remember three things; first, treating people bad is unbecoming of you. Second is treating them right is expected from you while lastly, treating them more than their value is remarkable of you. Choose always to be remarkable. When you treat people more than their value, you uplift and empower them. They will somehow match themselves with your expectation from them although in reality, there is truly no expectation. You’re just treating them special. On a positive note, they will always present their best self with you. There are many definitions of success but one of those is having good connections. If you can make people do something for you without having to pay or beg for it, then you are successful in the truest sense of the word.
3. Be neutral. There is no room for highly opinionated people in business world. It is important to be always neutral. I know that we have different beliefs and principles in life but leave that to your personal life. Your business should be free from any biases especially when it comes to politics or religion unless of course your business is in niche platform where you cater certain consumer of a one particular group. But nevertheless, be neutral. Do not give opinions on matter that doesn’t concern you or your business. In case there are two business man having a conflict in the same network you belong in, try to play it safe by setting yourself apart from circus. Remember that enemies today can become the best of friends tomorrow so siding with one party might backfire to you in the future. Stay out of trouble. Conflicts are never permanent in business worlds so, let others’ conflicts resolve on their own.
4. Trust is gold. Do you know why they say that a friendship that lasts seven years is most likely to last a lifetime? It is simply because it takes seven years or more just to build trust. Having a trust issue is almost natural to everyone simply because honesty is not very common these days. In fact, it is rare. The thing is it should not be the case because honesty should be something that is expected from us. Trust is as good as gold because when people trust you, you must consider yourself wealthy already. Trust is so hard to build but one betrayal spread like a wildfire. Needless to say, everyone should learn how to keep their words because trust is crucial in business even in personal relationships.
5. Stay connected with your business circle. In the previous articles, I have talked about the importance of building and expanding your networking. However, belonging to a specific group of businessmen and entrepreneurs is not enough. In fact, this is only the first step. Always keep an open communication with them. There is no over communication when it comes to business. The more active you are in your network, the more opportunities will be available for you.
6. Invest in learning. Keeping your business running is not everything you need to know about business. Investing in learning is a lifetime investment that gives lifetime result. For example, you may want to invest in short courses about the available technology and how to utilize them for your business. Everything is changing every day and businesses become more and more competitive. You have to keep up with the changes and always find innovative ways to serve your business.
7. One hour of short mile-stones every day. Do not end your day without doing something that your business will thank you in the future. It could be an hour of studying new marketing platforms or updating blogs or websites that endorse your business. These little mile-stones everyday toward the business’ chief aim are small successes that produce bigger ones. Have a laser-like focus on your business goal and take one step everyday towards that. -M.D.
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