Let your business thrive on wisdom instead of surviving on shrewdness
Posted Sunday, April 22 2012 at 16:13
You will be shown a sign on the wall, or small print on your receipt, that will read: “Goods once sold cannot be...” (You know the rest.)
Be a customer. Walk into a bank and try to get a loan for something. Watch the paperwork hoops you will be asked to jump through for the next few weeks.
Watch how you will be asked to provide not only cash or a property as collateral, but also insure your own life in the bank’s interest in case you default.
Then watch how the bank will make you pay for every single expense related to the loan: insurers, valuers, lawyers et al.
Watch how it will also charge you something large for “arranging” the loan (it’s a costly favour they’re doing you, apparently).
And watch how the bank will earn a huge spread on the interest payments you will now be bound to make for much of the rest of your working life.
What are these businesses doing?
They’re being shrewd, of course. They’re protecting themselves against nasty customers like you, who will abuse and misuse them if given the slightest opportunity.
They’re looking after themselves; you have to look after you. That’s the way business is done.
Or is it?
There’s a better way, people. I just don’t think most of you will have the breadth of vision, the acuity of insight, or the bigness of heart to see it.
That kind of person, like Gary Vaynerchuk, sees very clearly that the overriding purpose of business is to create and hold happy customers. That making customers happy makes employees happy.
That happy customers create happy shareholders.
That you make more money, not less, by not sweating the little stuff so much.
That archaic rules and regulations kill the relationship and make every transaction coldly economic, instead of warmly emotional.
I don’t believe your business, whatever industry you’re in, knows this. So go on, prove me wrong.