As a business owner you make huge efforts participating in boards, associations, and sales networking meetings of all types. Sometimes in group settings and sometimes just simple one on one facetime lunches or cups of coffee somewhere. A good thing. With that said, however, I would guess most of you are missing some of your best sales networking, lead generation, opportunities and don’t even realize it. Let me explain.
There is such a fine line between business profits and consumer savings. As a business owner, it is so easy to go down the egomaniac path of “win every deal at all costs”. Consumers typically don’t care if you make money and push for every dollar of savings adding to this dilemma. It really can become a race to zero and possibly a death knell for your business. So what do you do to stay in the game with reasonable profits for business continuity?
My wife needed a new vehicle due to medical issues. She was in Seattle for the operation. I had a week before I needed to get the vehicle to her. The mini-van needed detailed, rear bumper repaired, leather and heated seats added, and floor mats. I paid what they asked and was pre-approved. Pretty easy sale. While signing the papers I was asked to take the vehicle now and then bring back later. I resisted as this was inconvenient and unnecessary. I just wanted to pick it up when all the work was finished. Ultimately I was convinced to take it now.
Watching a movie with my son the other night the main character announced that his company had “never fired anyone”. He went on to explain that “because of this they had loyal hard workers as they were secure in their positions and future”. While this is obvious fiction it does make one wonder. Where does company loyalty really come from?