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 oldâˆ’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 oldâˆ’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. Wordâˆ’ofâˆ’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 andâ„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 andâ„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 eâˆ’mails. Many people tell me that that is their biggest pet peeve about choosing to do business with a company.
Reach Joe Palumbo at 516âˆ’248âˆ’0256 or firstname.lastname@example.org.