Golden Rule to Success

The Golden Rule or law of reciprocity is the principle of treating others as you would wish to be treated. This rule can be used as the basic standard procedure.
To succeed, we must treat others as we would like to be treated.
We are paying our suppliers on time? Are we giving an exceptional product? We are treating our employees with consideration, according to what they represent for our company?

Some of my clients came to me with financial problems. When I asked how they are paying their debts, they said they have no money to pay  (how bought them?). Another problem I encountered was the way they treat their customers; and last but not least, they considered their employees as internal enemies (I think this was a mutual feeling).

The easiest way to align resources-actions-goals is to apply the Golden Rule to the three most important business interactions.

Vendors

  1. If you don’t like people trying to obtain the lower price from you, do not make the same mistake with your providers. You want a lucrative business, your providers too. So instead to piss them off decreasing the value of their products or services, try to obtain good deals from them on volume of sales for example.
  2. If you like to be treated special, you must do the same. Vendors are much cooperative or willing to help you if you treat them with professionalism.
  3. Remember your vendor today can be your customer tomorrow, building a very strong vendor relationships can be the real deal with them

Customers

  1. Imagine how you like to be treated as a customer; treat your customers as your allies, not only as the source of money; listen, observe, talk , making them real to you will help to understand what they really need; communication is a very powerful two way road.
  2. If you do not like to be cheated, or receiving a poor job; do not do the same to your customer; make the commitment to provide outstanding services as standard procedure.
  3. If you respect others fares and prices, educate your customers to do the same. Only if you reflect respect for yourself, others can see that image.
  4. You are in business to provide solutions, not problems.

Employees:

Remember when you were employed, how affected your performance the weird organization, the unfair wages, the lack of consideration, the absence of procedures. As a business owner, you want to maximize results, if you don’t validate your staff; you are sending wounded soldiers to the battle, injured by YOU. Here are some ideas about how to apply the golden rule to your employees:

  1. Organization with communication channels
  2. Make them knowing their positions and business procedures.
  3. Training to maximize their performance
  4. Support and protection
  5. Wages according results

Of course this golden rule is for you too

Long ago, a client told me that he had a client with sales over million dollars per year, but this client was inconsiderate both with him and with his employees, a nightmare. One day, he took the decision to stop the business relation with that client; so after the initial panic attack, he had more time to improve the company performance. A “miracle” happens; customers who had been relegated started to increase their orders. Sales doubled in less than a year, with only using to himself the Golden Rule.

From the Series Coaching the Success

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