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Honesty leads to business

By Joseph Palumbo III

We have had our fill of hearing about how bad things are. We have also had a healthy dose of hearing about how investments and retirements have gone sour because of unethical behavior. The old−school values we were taught by our parents are coming back regarding budgeting our money and building our businesses.

I was at a 2009 Queens networking event. I spoke with business professionals and the general consensus was we are heading back to old−fashioned business principles. Queens is coming back to a traditional mentality regarding business. Here are some principles I gathered in speaking with those professionals.

Go out and build trust with your neighborhood. Word−of−mouth is still the best way to get business. Establish a positive track record. Maintaining your clients is essential to being successful, as well as having staying power in tough economies.

Advertise your product and⁄or services honestly so clients know what to expect. Do not sell the hype or only focus on the positives. There is no second chance to make a first impression. You will lose all opportunity to win back a client’s trust if you are caught in a lie once.

Be transparent for your clients in that you and your business are openly identified. One of the biggest problems I hear Queens residents speak of is they do not understand their investments or the business language or terms being outlined to them. Clearly relay and disclose all policies, guarantees and⁄or procedures to your clients.

So How’s Business regarding old school business values for 2009? These values should be commonplace and a given. Life and the world of business have gotten away from us, but Mother Nature has a way of bringing things back to basics. Keep your promises. Return phone calls and e−mails. Many people tell me that that is their biggest pet peeve about choosing to do business with a company.

Reach Joe Palumbo at 516−248−0256 or jp@camelotlimo.com.

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