I remember back in my early teens and without giving my age away it was in the early 1970’s when I sent for a business manual. Information books were very much alive and kicking then as they are now. Today’s books are more likely to be e-books whereas my information book was printed on a duplicator!
There was a statement in that book that has stuck in my mind since the day I read it even though I can’t remember anything else from the book at all. This is it:
“Capitalists who act like capitalists don’t stay capitalists very long.”
Business generally are by nature capitalistic. They are there to grow capital and make profits. What did the writer of those words imply? He really was saying that if in our business we are simply interested in profit and not in our customers we will lose out.
We have to give value and earn our profit and not fleece people of their hard earned cash (even if done legally). If we overcharge, supply inferior goods, or have poor service and relations with customers they will look to go elsewhere. We do not want to appear as an arrogant tyrant that assumes that everyone will buy from them no matter how we treat them.
Sadly there are businesses that have failed because they assumed that customers needed them and not that they needed the customers. There are many more businesses that will go the same way.
Don’t act like a capitalist! Give value and great service and your profits and business will grow.
The Entrepreneur Club
What do you think? Please leave your comments below.