Surprisingly Profitable
What Doesn't Work - Some of you may have discovered this, although it goes against the vast majority of what passes as business knowledge. The whole concept of being “cut-throat” is aimed at a very specific strategy. Jump in, grab what you can, and jump out. It only works as a short term approach. There’s no sustainability built into it, so things completely unwind if this strategy is used over time.
Because it works at first, it can give businesses the idea that it’s a successful strategy. Then when things start falling apart, they tend to look at the employees as being the problem. They’re not selling enough, they’re not going after new territories, they’re not pushing hard enough. In fact, this is rarely if ever the problem. The problem is that original strategy. The strategy to win isn’t the same as a strategy to rule.
Fables Strike Again - There’s an old fable that illustrates the most common thinking in business, and how easily we see through it when we take it out of the “expand your markets right now” context. I’ll abbreviate it for you.
A crow found a delicious berry by the side of a pond. He thought he might rinse it off a bit, and walked over to the pond with the berry in his beak. When he leaned over the water, he saw another crow with a juicy berry in his beak. Wanting that one too, he grabbed for it, and in doing so, dropped the one in his beak. The ripples broke up the illusory reflection, and he was left with no berry at all.
This is what happens when we chase after new, without fortifying and solidifying what we have. Again, those who’ve been through it have learned that keeping customers is far easier and less expensive than gaining new ones. Expansion is great, but it can’t be the only strategy. Every bubble pops.
The Surprising Solution - It hearkens back to the Integram from March of 2024 – Transactions vs. Interactions. Transactions will always be short term and not particularly engaged. Interactions lay down the foundations for sustained relationships.
And for sustained relationships, the most powerful nutrients are listening, responsiveness, and kindness. These are like water and sunlight to flowers. Think back on the interactions you’ve had in life. It’s a good bet that the ones that left you feeling unsatisfied, frustrated, or even angry were devoid of these elements. It’s also a good bet that the ones you remember and likely maintained had all three.
I’ve personally tested this in several areas from corporate to retail to sole proprietorship, and kindness over greed has succeeded unanimously. In one case, tripling the bottom line income and customer accounts (while increasing staff.)
We convey more than we might think by our behaviors. When we express greed, we express scarcity. When we express impatience, we express self importance over the client. That gets communicated whether we realize it or not. If a horse can read fear, customers and clients can read our lack of caring. Obviously, this isn’t particularly attractive, and definitely doesn’t convey confidence.
It takes far less energy to be kind, to listen, and to engage with people, than to constantly be chasing new business. Furthermore, we develop a reputation that spreads and takes on a life of its own; offering free “marketing,” and clients as evangelists for your business.
Give yourself the space to feel appreciation and gratitude for what you already have. To re-focus attention on what we have instead of what we lack, shifts our perspective from negative and skeptical to positive and optimistic, from scarcity to abundance. Obviously this is a much healthier and more resourceful state of mind to start the day with, and it helps put a smile on your face.