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5 Ways To Practice Good Business

5 Ways To Practice Good Business

I’m a woman running different businesses. Through that, I’ve come across a ton of people practicing what I call “bad” business. I grew up with parents who always conducted themselves both honestly and fairly, so when I set out into real world business, it was shocking to see that others did not demonstrate the same ethics. Unfortunately, as a woman, you see this more often than not. After seeing what practicing bad business is like, I have been able to better pinpoint better business tactics.

If you’re about to start your own business or already have one, I’ve rounded up 5 ways to practice good business to ensure your success!

  1. Take care of your referrals. Word of mouth is the #1 way companies thrive. If someone is kind enough to send you business, the right thing to do is to take care of them. I’m not talking about a simple “thank you.” A thoughtful gift, cash (preferred), or something meaningful is the way to go. People are more likely to refer you again should you take care of them. However, and I can speak from experience of being the referrer, people are also less likely to recommend you & not say great things about your business tactics if they feel you scummed them. No one is stupid, they can add up how much money went into your pocket due to them – you look greedy and ungrateful if you made a substantial amount of money and didn’t send anything except for “thank you.”
  2. Speak highly of your competition. Trash talking your competition so YOU get the business instead is a big no-no in my book. Have I spoken negatively about someone in my industry? Yes, after they went through many, many people slandering my name. Other than that, no. I understand everyone is out for themselves, but I also know karma is a beautiful little b*tch.
  3. Deliver on time. And by one time, I mean early. In school you’re taught that if you’re 10 minutes early, you’re right on time and if you arrive at your scheduled time, you’re actually late. I try to practice this with deadlines. Meet a deadline earlier than promised and you’ll look like you overdelivered. This leaves your client feeling more than satisfied. Happy clients translate to some amazing referrals.
  4. Set realistic expectations. A lot of times, we want to overpromise in order to snag the client. Don’t do this. Be honest about your intended results and/or goal. When we promise things we know we can’t deliver on, it leaves your client feeling robbed.
  5. Think long term vs short term. There are many people out here trying to get a dollar and then close out. That’s great and all, but it’s better to develop a long term relationship. You want recurring business, not a 1 and done situation. You want your client to continue to come back and also for them to refer you so that you can have a steady revenue. I have seen many businesses treat their clients like crap, or do the bare minimum, just so they could make their money and dip. It takes more work to work in terms of building a long term business relationship, but the payout is worth it. 

I hope these tips help you in all of your business endeavors! 

xo NM

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