Honesty in business is important. In the small business world, news quickly gets around about business owners who value their customers and conduct themselves in an ethical way ñ the same holds true for businesses that are not so ethical.
In a competitive world where small businesses need to stand out in order to survive, honesty is even more important. Here are a few tips for running an ethical and honest business:
# Treat people with respect – You’ve probably been taught to treat people how you’d like to be treated. The same holds true in business. Customers will notice when they are being treated fairly and respectfully. If a customer has an issue or is upset, it’s even more important that we listen to them and ensure they are properly taken care of. Your customer’s reaction is simply a sign that they are frustrated and angry because their expectations have not been met in some way. By all means describe your services and market them, but do not overpromise and underdeliver, and always offer an unconditional 30-day money back guarantee.
Dr Gary Chapman is a great relationship counsellor, who has written a series of books called the 5 Love Languages, and has also produced the 5 Apology Languages. If your apology includes all 5 ‘languages’ you can feel pretty certain that your customer will be placated and even want to do MORE business with you, because you took the trouble to listen and make good on your mistake. You can learn more here: 5 Languages of Apology
# 2- Honesty is the best policy – Whether it comes down to a testimonial for your website or deciding what fee to charge for your service, it pays to be honest and fair in all you do. Misuse of information or a testimonial can come back and bite you, and it’s just not worth the hassle in the first instance. Be consistent in all your communications.
You can always start out with testimonials from family members or friends which are still honest. When it comes to fees for services, it’s not to say you should undercharge for your services or necessarily use other businesses as a guide, but do think about your customers and whether or not you feel your fees are truly fair all around. You also need to know your market to ensure that you are competitive within it.
# 3- Don’t cut corners ñ If a customer is paying good money for a set service, then they will expect to receive that service to a high level. It’s important to maintain a high standard and not cut corners, whether it is in regard to products or services. Taking shortcuts can lead to business disasters, and a not so positive reputation.
# 4- Give back – Not everyone will agree that all businesses inherently have a responsibility to their communities and those less fortunate, but wouldn’t the world be a better place if perhaps they felt that they did? Not every person can manage to start a profitable business or work at a high-paying job. Giving back to the community, even in the smallest of ways, can make a difference to all involved. Even if you do not have a lot of ready cash, you can pass on your skills and knowledge and advice, take on interns, for example, who are eager to start in your chosen career, donate time at the local pet shelter, and so on. It not only helps everyone, it is a way to network and show people you are a person of integrity. People do business with people they like.
And you donít have to be a large business to give back; a little goes a long way. Donating to a book fund at your local school or helping to build a community garden, giving back can take ways in many forms and is beneficial to everyone.
If financially it’s not viable for you to give back, how about offering an entrepreneurship opportunity to a local teen who would like to start a business? With a little thought, it’s easy to find a way to make a difference in your community and not just focus on business and money all the time.
# 5-Stick to your word -This is a fundamental part of good business ethics. Whether it’s meeting your deadlines or following through with a venture you agreed to, sticking to your word is always the best policy. People will come to respect you for your dependability and honesty. Customers are more likely to want to do business with someone they know they can rely on and you’ll feel better for accomplishing something that is often not easy for many.
Sometimes things happen and it’s difficult for us to follow through but wherever possible, try your best, and make sure that you communicate with your clients to let them know what is happening and when they can reasonably expect the work to be done. Everyone gets ill, has accidents and so on. It does not have to be a disaster if you keep people up to date on your progress.
Being honest in all aspects of your business communications will pay dividends in the long run, as well as simply being the right thing to do.
