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Good Business

Apr 28, 2008
There seems to be the notion out there that in order to succeed at business you have to be cut throat. It's like the only way you can succeed is if you make somebody else fail. I think that is a false notion. I mean you could probably get away with doing business like that, but eventually it will catch up to you. To make a business successful and long lasting there is a better way to do business.

Warren Buffett is the richest man in the world. He invest in companies that have proven themselves over several years to be successful companies that do what they say. He invests in honest companies because they will make it in the end when the dishonest companies more often times will collapse. Now I'm no Warren Buffett, but we can learn from him.

What is in your nature? Will you do whatever it takes to succeed? I mean whatever it takes? Well what if I told you that you could succeed by being honest? What if I told you that you could succeed by helping those around you succeed? What if I told you that you will succeed if care about your end user? I suspect you might tell me that it sounds sappy. Well it works.

Building a business is building a relationship with your consumers. Name branding is basically building trust with the consumer that your company will deliver a superior product time and time again. Don't dismiss the power of word of mouth. If somebody is happy with your product or service they will tell those around them they know. If they aren't happy with your product they will definitely tell people they know. Well I know some companies rely on a numbers game through mass marketing. Well your marketing will be exponential with good word of mouth or bad word of mouth. You choose which one you want.

Well what if you are barely starting out with a business. I know a painter who made six figures one year and less than $30,000 the next. He cut corners and didn't care about the costumers. It took less than a year for his business to decrease over 60%. I am positive if he would've taken a little bit more time to be more thorough and to do those little extra tasks to make his work quality, that the effect could've been reversed. He could've had a %60 increase in business from referrals and word of mouth. He could've easily expanded and made a small business that would provide income for years to come. It is as simple as doing what you say you will do and doing it right.

Some could argue that my painter friend may have not been able to earn $100,000 if he was doing all the extra details. That may be the case for the first year. What if he would've only been able to earn $80,000 the first year because of the extra time he spent being thorough? Wouldn't it of been worth it for the years to come? Sometimes small business owners will sacrifice the future for the now. The future will always be ahead of us, but the now will be gone in an instance. Security and long lasting businesses are built upon a foundation of integrity and quality.
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