Summary: What makes a business successful? Loyalty in four areas: clients, employees, partners and community.
The more I talk to people about their business, what works and what doesn’t, it is becoming clearer what makes a business successful beyond its product or service.
Your product or service will attract clients to your business as you are answering a need. The question then becomes what keeps the business coming and what creates a successful business. Taking a step back and looking at the big picture, the answer I have found is “Loyalty”.
Here’s the dictionary definition (Merriam-Webster):
“the quality or state or an instance of being unswerving in allegiance”
Sounds fantastic right! What does this mean in business? You need to create loyalty in four areas of your business to be successful.
Clients. By gaining client/customer loyalty you will not only have a steady flow of business you will also get a steady flow of referrals. Your clients will become part of your sales team as they speak highly about your business and recommend your service/products to others.
Employees. These are the people taking care of your clients both internally and externally. The internal clients are the other departments or people who need to work together or in succession to achieve client satisfaction (external client). It has been proven through various studies – employees leave managers not companies. Be a good leader to your people and watch your business grow.
Partners. Or you may call them vendors or supplies. Why partners? If you work with them as partners you will be able to achieve more. They are providing a component to your business that is needed. Instead of having them be someone who you only ask for price reductions or extra services – have them as part of your offering. They will help you and you will be helping them.
Community. Be of service to the community you live and do business in. Whether this is volunteering time or money – building a healthy and growing community around you will help you in so many ways. It can be better employees, better clients, more attractive living area, or become well known for your service. All this assists you as a person and as a business owner.
This is just a brief overview of how the four areas of loyalty will help your business. Want to learn more? Email me (firstname.lastname@example.org) to set up a complimentary session to discuss your goals for your business and how loyalty will get you there.
How has loyalty helped your business?