Business Principles That You Should Abide By For Long Term Success

As a budding entrepreneur I believe that there are certain core principles, which every business owner should abide by, if they want to build a long-term successful business. I certainly abide by them and believe that they are quite frankly the difference between success and failure. It doesn’t matter if you are in Barbados, Scotland, America, China, Canada or anywhere for that matter they are principles of business that will help you to succeed.

For me they are not only business principles, but it wouldn’t do your life in general any harm to abide by them. They are the basics, which should be the cornerstone of every business, but sadly they seem to be constantly lacking in so many companies nowadays. But you know something I do my talking with my wallet and if and when companies think they are too good to worry about their customers or don’t treat them properly I go somewhere else.

It seems to be a problem that I constantly come across, and it irritates the hell out of me, and believe me it happens on a regular basis here in Barbados, just like it happens in the UK and probably all over the world. So many companies are so good, professional and first class at making the sale, but once that sale is made, it becomes very clear, very quickly that all they cared about was getting the money. There only principle is to take your money! Everything else is secondary!

It is something, which effects big and small companies, I would like to make a special personal mention here, one of the worst offenders I have ever came across was a web design company called UK192.co.uk, they are impossible to deal with and they cost me so much effort, money and time. I’m pretty certain they wont last as a business, they haven’t got a clue. They agreed a price to complete a job to a certain specification and they didn’t have the ability to do it. Instead of saying this, they took the money and tried to change the rules. Now every chance I get I tell people the truth about this company, they totally lack any business principles.

Business Principles for Success:

Honesty: Always be 100% honest with your customers and clients. Never lie to make the sale, if you cant do what they want, when they want it, be truthful and tell them that. They may compromise and you may make the sale anyway, but if you fail to deliver, you deserve to lose them as a future customer and any recommendations they may have provided.

Always Meet Your Obligations:

When you have made the sale with a customer, you must make sure that you meet every single obligation, which you have promised to deliver. It should be your priority to achieve total satisfaction for your clients, meeting deadlines and specifications are what creates happy customers, which in turn creates free business for you through recommendations.

Respect:

Treat all customers with the utmost respect and make sure all members of staff treat each other respectfully. It shouldn’t matter what position, title, age, skin colour or any kind of distinctions there is, everyone should be treated in a professional, respectful manner at all times and with courtesy.

Accounting and Bookkeeping:

Make sure you maintain a hands on approach to accounting and bookkeeping. It is vital to the future success of your business to become knowledgeable in these areas. It allows you to see exactly how much money you are making, how much you are spending and if any dubious activities are occurring you can spot them early.

Forward Thinking:

Stay ahead of the game; constantly look out for new innovations, which may benefit your business and your customers, also make an effort to master new technologies when they are happening, don’t be last.

When I was living in London for a short period before I moved to Barbados, on the road I was living in London there was a father and son driveway business which layed those nice lock block drives drives, I spoke to them one day, they hadn’t been out of the Road for over 4 months, and had at least another 3 months worth of business still to do. They had a little sign at the side of the road, they lay drives beautifully, and they are pleasant people and obviously they kept getting recommedations from happy customers!

The driveway guy told me he hasn’t had to advertise in 25 years of business. He gets all his customers from recommendations, plain and simple. He tells me that his philosophy has always been the same, do a great job, complete it on time and don’t act like an idiot when working, and he has never ripped anybody off in his life. He admits he isn’t the cheapest, but he provides true old school quality. I feel there are some valuable lessons to be learnt from this small business. As he said to me, “it aint rocket science”. He has got very clear principles which are providing great business results.

Never lie, cheat, mislead, steal or provide a crap service to your new or existing clients, it is a simple philosophy, which will pay dividends for you as a person and as a business owner.

I hope all those builders that I have had working for and with me in Barbados take heed of the above and all those that think it is smart business practise to rip people off and do shoddy work, you will never get the chance to make money from me again, and you sure as heck wont get a recommendation! In fact I will go out of my way to advise people not to employ you!

I wish I new why everyone in Barbados is a builder? When most of them haven’t got a clue about building work and doing even a reasonable good job. All they want is the big money for a second rate job!

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