Welcome to the next issue in your free E-Zine
"What you need to know before you start a business"
More than 90% of all new businesses fail within the first 10 years. Why? If you check it out, you find that it's almost always a result of a lack of knowledge. Over the next five weeks, we hope to let you in on a few very important fundamentals for the success of your business. Some you may already know some maybe not. If you do, then good, this can only help to reinforce your beliefs. If you do not already know then we hope you enjoy the next few weeks. Again, congratulations on your wise decision.
In this Issue....
1)Do you know you what your true intentions are? Are your intentions aligned with your values?
Know Your True Intention
The main objective of a business is to provide products or services which bring value to the lives of the end consumers. When done successfully this can generate a substantial income for the business owner and his shareholders.
Unfortunately many business owners or aspiring business owners either get involved with the wrong business or underestimate the requirements for the chosen industry.
"As a man thinks in his heart so is he"
Merriam Webster dictionary defines
Intention: a determination or resolve to act in a certain way
In business, therefore, your true and only intention should be a determination or resolve to act in a certain way such that your clients' lives are enriched. Only by acting honourably and honestly and placing your client's interests above your own can you be assured of success in your enterprise.
There are a host of reasons that people give for going into business. What's yours? Is it to save on taxes? Is it to be more comfortable? Have more control over your time? Maybe you want to protect your assets and accumulate wealth or avoid liability. Is it to make more money?
Regardless of the stated reason, ultimately the success or failure of your enterprise will be guided by your true intentions, because your true intentions reside on your subconscious level.
The main purpose of any business is to enrich the lives of others. Whether it's a child's toy, a motor vehicle or a plasma TV. To the extent you enrich someone's life your business will succeed. If however your intentions are largely self serving from the beginning then it will be reflected in the way you help the client. Poor customer service , items replaced with inferior cheaper products, overcharging are all examples of what happens when the welfare of the client is compromised. The perceived gains are almost always short lived and temporary and can leave the company poorer financially as well as tarnishing it's reputation in the long run.
How many times have you heard the mantra "We just want to help people" when the true intention is to get them to sign up or buy a product. Once they sign up they never see their sponsor again. Sound familiar? Is that you? How has that made your life better?. When your true intention is to make a persons life better then your life is also enriched and your business will flourish. If
Often times people will try to hide their true intentions, sometimes out of fear or often times to deceive or mislead. Are your personal values reflected in your intentions or the way you act? Are your intentions, noble or treacherous, are you willing to help your client get what they want even if you don't get the sale or are you just after the money. How is your relationship with your clients? Are you providing good service? Inevitably , the truth does come out
An honest assessment of your true intentions will prepare you immensely for the tasks ahead and can be a determining factor in whether you succeed or fail in your enterprise.
Every decision, every action should have an underlying intention of enriching your clients lives. From start up and throughout the lifetime of the business a noble intention which places your clients first will propel the business forward. Just as every action has an underlying intention, so too must every intention have a personal value as its foundation.
As an enterprise evolves and grows, the values of some business owners change. When their values change so does their focus and their intentions. Should the intentions become misaligned with their values, the business can suffer in the long term. For example, if the only intention is to make money at all costs, at the expense of client service.
Successful Business owners
- Know why they are in business
- Know their strengths and weaknesses
- Always conduct business ethically and with integrity.
- Are trustworthy and honest
- Are knowledgeable about their business
- Treat business associates and clients with respect
- They always seek to build relationships to enhance and bring value to the lives of their clients
- They spend most of their time on result producing activities
- They possess good organizational and communication skills.
- They surround themselves with competent people
- They are committed to continuous and on going self improvement
- They contribute to their communities and always pay forward
- They are prepared to act on their convictions and are disciplined and patient
- They are determined and committed to the success of the business
How many of these characteristics do you possess?
Here's a little exercise that you can do
On a sheet of paper write out all the ways that you can make your clients' lives better. Then compare these to your values
Next match your personal traits to the business and think about what it will mean to your clients. What measurable value does this bring to your relationships
Cultivate noble intentions with the client as the most important person in your business.
Honesty, ethical behaviour and integrity go a long way in business
Build a relationship based on trust and respect
Comments? Ideas?, Feedback? We'd love to hear from you. Just reply to this e-zine and tell us what you think
Till next week have a productive week.
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