MENTAL DIET: How To Build A Thriving Business

Have you been overtaken by the idea that the purpose or the reason for establishing a business is to pursue profit?

Then that thought or idea is the problem.

Are profits important in a business? Definitely Yes! In fact, if profits are not made you will be out of business.

Higher sales and profits expand the possibilities and opportunities for everyone involved; better and higher remuneration and working environment for the staff; growth and expansion of the business; product creation and improvement, and corporate social responsibility, etc.

However, profit is something you attract by fulfilling the purpose of establishing a business.

The highest quality and quantity of service produces the highest profits.

The Law of Organization states, “A business organization is a group of people brought together for the common purpose of creating and keeping customers”.

The aim or purpose of a business is not for the pursuit of money but rather it is for customer creation and retention through value creation and service delivery.

When customer creation and customer retention through high-value products and excellent service that solves a specific problem becomes the focal point of an organization profits surge.

In essence, the profitability of a business or organization rises or falls according to how well the business owner or the people working in the organization can create and keep customers or clients.

Ways To Keep Your Existing Customers:

• Identify ways to build customer loyalty with existing customers example, send messages to them on their birthdays, wedding anniversaries, discounts, freebies, and appreciation messages at the end of the year.

• Identify your most profitable customers and reward their loyalty and patronage in a special way that connects with them.

• Creating new products and services and improving existing products and services.

•  Identify customers’ basic expectations and meet them consistently.

• Identify and create additional service features for your customers.

• Identify and create ways to surprise your customers beyond their expectations.

• Identify and create ways to amaze your customers.

• Give customers the very most for the very least – that doesn’t mean cheap price.

• Serve your customers and clients in ways that are faster, better, and cheaper than the competition.

 Ways To Create or Attract New Customers

• Identify key areas to create and keep new customers.

• Identify opportunities to develop and consistently promote new products and services.

• Identify ways to consistently promote existing products and services.

• Make your products and services easily accessible.

• Give personalized services.

• Never lose touch with the thoughts, feelings, and needs of the people you desire to serve.

Ask yourself, ‘How can I continuously improve my knowledge, skills, and activities to remain relevant and indispensable.

Remember this:

Meeting customers’ expectations produces a surviving business.

Exceeding customers’ expectations produces a thriving business.

When you amaze your customers your business or organization evolves into the “indispensable” class.

https://successrecipeblog.com/inscription-how-to-thrive-in-business/

https://www.hrdconnect.com/2020/09/23/6-ways-to-build-a-thriving-people-first-company-culture/