You may have heard the story from the old time business people about how when a person gave his word you could count on it. It was a matter of trust.
I remember a story that is absolutely true about the famous golfer Arnold Palmer. Arnold was with the same management company for decades. He started his relationship with the management company, as the story goes, with a handshake. In all the years of doing business, Arnold never had a formal contract with these people. All he had was a handshake. And to both parties this was all they needed because they were honorable people who kept their word.
What different business times we live in today.
Part of the problem is that 50 years ago everybody knew everybody. And knew their reputations. Today people don’t know each other. They do business because of a marketing campaign, a slick brochure or a well placed advertisement. In the past if you wanted to know if someone was trustworthy you went to someone you knew and asked them for a recommendation about doing business with a particular company. As witnessed with the various highly covered scandals in the media you can’t even trust recommendations today. Too many stories to focus on just one here.
When you are doing business you must absolutely have the best reputation possible.
You must prove yourself to the people you are doing business with. You can’t afford to have any scandal about your business. In today’s communication age, any negative comments about your company can fly across the internet almost instantly to inform everyone you are a scoundrel.
When doing business with people take it slow. Give them small contracts or make small purchases. Depending upon how important your relationship is with them find out everything you possibly can before “you bet the farm” on doing business with them.
In today’s times you may not want to put all of your eggs in one basket and instead do business with several people or suppliers just in case they go out of business or suddenly become embedded in some sort of controversy.
Unfortunately, there are not many people you can trust today. If they tell you the check is in the mail, believe it when the check is in your hand and you can really believe it when the check clears the bank.
I am not trying to be negative. There are great people out there to do business with that are a credit to the business community but unfortunately there are too many people taking shortcuts today. They will say and do anything to get your business – or rather your money.
Be careful who you do business with. It’s more than a matter of trust.
To your success!
Howard Lewinter guides – focuses – advises CEOs, presidents and business owners across a wide range of industries across the United States to more success – more profit – less stress and less worry. Business problems? Business issues? Talk with Howard! 888-738-1855