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.
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Sunday, September 7, 2008
Sunday, August 17, 2008
Why innovation is important?
It is said that the “nothing brings failure than the success itself”. If you don’t innovate and bring out new initiatives or new changes to the business, someone else will. The impact of this is, the customer would move from you to other vendor provided there is a clear benefit of value, price & time factors.
To sustain and grow, new value additions have to be brought to the table. Every customer wants to learn something new all the time. He/she wants to learn about the new features, new uses, new products etc. It is the job of the marketer to invocate these thoughts and produce the environment suitable for this growth.
To provide this environment to the customer, the company where the goods are produced, the people who are involved in these have to spend time and innovate new ideas to help customer.
Ultimately, the truth of the business is if you don’t then someone else will..
To sustain and grow, new value additions have to be brought to the table. Every customer wants to learn something new all the time. He/she wants to learn about the new features, new uses, new products etc. It is the job of the marketer to invocate these thoughts and produce the environment suitable for this growth.
To provide this environment to the customer, the company where the goods are produced, the people who are involved in these have to spend time and innovate new ideas to help customer.
Ultimately, the truth of the business is if you don’t then someone else will..
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