Fundamental values are the core of every successful business. Yes, each organization is inevitability responsible for developing and carrying out their own ideals and codes of conduct, however there are a few basics that every business owner should consider.
INTEGRITY is one of the most important and sought-after qualities in a company. At the base of your business-consumer relationship should be the trust that gives your customers the confidence in your ability to do as you say and say what you mean.
INNOVATION is thinking ahead; being proactive and anticipating what your customers are going to want from you, and your product, before they even realize they want it. Innovation is not necessarily developing the ‘biggest and the best’ in the business, but tailoring your next steps to pave the way to your client’s contentment. Take Apple, for example. They thoroughly researched the likes and dislikes of their consumer’s shopping experiences; then they tailored their retail locations to address those things and in 2009, when other retailer’s sales had decreased, Apple’s sales rose by nearly 7%.
QUALITY. QUALITY. QUALITY. Should we say it again? Quality. High quality products attract high quality (and repeat) consumers. Anyone can create a sub-par product and sell at least one of them - but a successful business owner knows that your progress lays in the quality of your product. This goes hand-in-hand with integrity: if your customer doesn’t have trust in your brand, they will go elsewhere. And they’ll tell their friends.
ACCOUNTABILITY. Financially, legally and ethically, accountability is imperative to your success. Just as individuals in society require both morals and laws to guide their behaviour, responsibility and accountability are both necessary to guide company conduct. It should be your pleasure to take the blame and the credit for everything that happens within your organization.
COMMITMENT AND RESPECT. When possible, work to create personal relationships with your customers. Listen to them, empathise with them and respect what they’re telling you. Studies have shown that people are more inclined to come back for your services if they feel a sense of friendship from you; a genuine caring and respect.
Of course, there are other fundamentals to consider when trying to achieve business excellence. Team work, employee recognition, finances and marketing are all important aspects to take into account however, having a strong foundation based upon integrity, quality and accountability is what will keep your consumers coming back.