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Other Added - Honesty In Business - Does It Pay? Is Honesty The Best Policy?
The Personal Development Entrepreneur Business is skyrocketing all over the world. Personal growth is the number one natural resource for empowering yourself on this planet today. Entrepreneurs that spend most of their quality time in personal development are apart of the one percent population that earns around ninety six percent of the money in the world.Why is it that most of the wealthiest people on this planet are highly motivated in applying personal development into their lives and their b
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will b
Have you ever considered the fact that very few obstacles are preventing men getting training for careers of their choice? Changing job at any time for men is not much of a problem at all.You will equally agree that career situation for women is the opposite of the above career situation for men. Women are seen to be homemakers whose places must be at homes cooking and taking care of children and husbands.Do you realize that career women have given up their jobs, not out of choice, but
The truth is . . . many people are honest only to the point where there is the possibility of being caught and when sanctions are applied without fear or favor. Those same people will be dishonest whenever the chances of being caught is slim or where sanctions are hardly applied due to corruption of the institutions meant to apply the sanctions.
The result?
Explosion of corruption.
Now to the business world. The goal of every business is to maximize profit. The more transactions a business engages in, the more the profit potentials. And the greater the profit margin per transaction, the greater the overall profit of the business. Hence, business managers seek to maximize the returns per transaction in order to maximize the profitability of the business.
Honesty in business, on the other hand, means you lose opportunities to make more from each transaction because you tell the truth. Here's a typical example: Suppose you're an electronics technician. A client brings her electronics to you. The fault? The electronics equipment does not come on when she powers it. You do a routine check and find that the problem is a blown fuse. If you tell her the truth about the problem, she will pay you less because it will take just a few minutes to fix.
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will be
You may wonder if the car dealer has gone overboard with his service and perhaps he has in a way. The customer can decline his offering at any time but at least he is there to offer it. You can go overboard with your willingness to please but you cannot go overboard with a good customer service policy. You really want to over deliver your promises but you do not want to under promise what you will do.There must be value attached to everything you do for the customer. If they do not perceive a val
The result?
Explosion of corruption.
Now to the business world. The goal of every business is to maximize profit. The more transactions a business engages in, the more the profit potentials. And the greater the profit margin per transaction, the greater the overall profit of the business. Hence, business managers seek to maximize the returns per transaction in order to maximize the profitability of the business.
Honesty in business, on the other hand, means you lose opportunities to make more from each transaction because you tell the truth. Here's a typical example: Suppose you're an electronics technician. A client brings her electronics to you. The fault? The electronics equipment does not come on when she powers it. You do a routine check and find that the problem is a blown fuse. If you tell her the truth about the problem, she will pay you less because it will take just a few minutes to fix.
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will b
Every consultant has had the feeling: the conviction that your own private service practice is your true calling. Your passion quest. Yet, the mundane details of actually running a business make even the most inspired business person ask whether the choice was the right one… The monthly budget. The humble billings. The everyday drudgery of start-up entrepreneurs.These modest beginnings lead many to question their own value.So how can you develop a six-figure service practice without taking
Honesty in business, on the other hand, means you lose opportunities to make more from each transaction because you tell the truth. Here's a typical example: Suppose you're an electronics technician. A client brings her electronics to you. The fault? The electronics equipment does not come on when she powers it. You do a routine check and find that the problem is a blown fuse. If you tell her the truth about the problem, she will pay you less because it will take just a few minutes to fix.
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will b
Whether you presently own a retail or web based business and are looking for an additional profit center or you are thinking of starting a business, jewelry is a “no-brainer” choice for a proven product category. The buying public, (particularly women) never tires of jewelry as the choices in color, materials, finishes and styles are endless and innovations are continual. Every generation reinvents jewelry for itself in much the same way that it reinvents music and fashion. Styles change but the basic f
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will b
Fire exits should be strategically located, with an outward opening door that has a crash bar and outward leading signs on it. Knowing where to find the emergency exits in a building that you frequent can save your life. Inward opening, rotating and sliding doors are unacceptable for use as fire exits, as they might need to be fixed open using a latch or chain if the door is needed as an exit route.In the UK, one exit is satisfactory for buildings where no more than 60 people work, as long as tha
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will begin to look for fresh ways to cut corners, outsmart your clients, and make more money.
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and family. They are proud to recommend you because they know you won't let them down. They know they can trust you to keep your word.
As the news spreads, your business grows. Honesty in business results in customer satisfaction which results in more business. Yes, your profit margin per customer may be low, but multiply that by the increased volume of business you get due to your honest dealings and you get a huge profit. There's another advantage of honesty in business . . . you build a long-term business.
Dishonesty destroys your business. Any gains and benefits you get from being dishonest is only temporary. When the truth gets in the open, you will lose everything. Want to build a lasting business?
Make honesty the only policy in your business. Honesty in business is, indeed, the best policy.
For me, it's honesty or nothing.
Do the same and you will be happy. You will build a real business . . . a profitable long-term business.
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