What Michael Douglas said in the movie, Wall Street, ‘Greed is good”, holds true for a very short time. After a while, people can see through your game and quit on you. This does not imply that money is evil. On the contrary, it is one of the fundamental needs, not more or less than trust, relationship, love and freedom.
Customer relationship is crucial
For any business to succeed, retaining an old customer carries immense value and is even more important than acquiring a new customer. The only way you can hold on to your existing customer is by building a relationship of trust and value. Nobody in his right mind expects a free service or product, but everybody is justified in expecting value for money they spend. Once they realize that you have delivered on your promise and gone out of the way to make them feel comfortable doing business with you, it becomes quite easy to build a strong relationship.
Always think long term
Being short sighted in business and chasing profits by unscrupulous means is akin to committing business suicide. The early days may not be very rewarding financially, but if you care to think of a long term goal and concentrate on consolidating your customer base, it eventually pays off handsomely. Always look at the larger picture and strive to reach higher goals. The struggle may be very tough and frustrating when you start out, but will be well worth it when you hit your long term goals.
Transparency and honesty is very valuable
The fine prints and hidden costs, which many companies resort to in the marketplace, may fool people for some time, but when word spreads, it can damage the business very badly. In the garb of helping people, if you lure them in with the promise of solving their pressing problems and take them for a ride, it can cost your business dearly. Customers and business associates would love to do business with you if your business conduct is above board, your transparency crystal clear, your honest effort and sincerity in solving their problem very evident. Once you come across as someone competent, knowledgeable, honest and transparent, they will even pay you more than your competitor who may not have all these qualities.
Show genuine interest in problem solving
Don’t just pretend to be interested in solving someone’s problems, because you will eventually get caught, waste other person’s time and money and make him or her angry beyond salvage. If you want to win someone over for the rest of his life, you must make genuine effort, show real concern and take pains to solve problems and it will pay off in the future.