We had to renovate the house. We called up a contractor to outsource the work. The initial dialogues went on well. We awarded the contract to the person. During the transactions we could find that the person was not following very good business practices. Even though he finished the work with quality, in the process he lost our trust.
Family members were debating on what went wrong etc. My spouse shared about a real estate developer who happens to be practicing a very healthy, transparent business practices for more than 2 decades. He charges premium for his services, however because of his frankness and openness, he has been able to get very good business all along.
So, sustainability of business is possible provided good business practices are followed. It does not matter, whether your business is real estate, retail outlet, financial service or IT.
People watch the business practices, integrity, honesty etc. with close eyes. They don’t like to be cheated. They liked to be made feel good at the same time tell them what is good for them very honestly. At times the truth you speak might not be accepted, but if they realize that it was in their own interest, then they will come back. They will refer you to their closed ones. Your business will flourish.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment