You mean there are rules in business???

Lately, I’ve been contemplating the idea of going into business for myself. With that in mind, one of my primary concerns is actually being successful with said business venture. There is no shortage of statistics that highlight the fact that many new business fail shortly after their foundation. Given this fact, it would seem wise to perform research into what business practices yield the greatest amounts of long-term success.

Customer service is becoming ever more important in today’s business landscape. Consumer reports agencies have begun to regularly assess the customer service aspects of large players in virtually every industry. In addition, the results of these assessments are very public, and can drive customer volume for those companies that rate best. This seems to indicate that customer service is important to the modern consumer as well. While there are still some companies that take the approach of providing the lowest quality product or service that will still sell, many are coming to the realization that customer loyalty must be earned, and is essential to repeat and new business.

Given these two facts, it stands to reason that one of the best ways for new business owners to ensure that they are not counted among the statistics of failed new businesses is to provide exceptional customer service. I wouldn’t go so far as to say that the customer is always right, but I will say that customer-facing policies and interactions should certainly be consistent, fair, and ethical. This raises an important point. It’s no secret that corporate corruption is rampant within America.

By operating in an ethical and consumer-centric manner, companies not only avoid legal troubles but also create a positive image of their business. In general, people want to give their business to companies that they feel they can trust. When your company is receiving bad press for corrupt or unethical business practices, it is hard to repair that image.  In addition, customer service is it’s own advertisement. When a customer has a bad experience with a company, they will not only tell people about it, but some will even berate and proactively lobby against a company. In contrast, when a customer has a good experience they will share this information as well. Customers usually won’t promote this information as actively as they would if they’d had a bad experience, but this is to be expected. There are far too many people who believe they should get kudos for doing what they should be doing anyway.

So in the end, it turns out that one of the best things any business owner can do is to abide by the golden rule of business. While this may not be some great revelation or elaborate business tactic, it is just as important. When you treat your customers as you would want to be treated, unhappy customers are one less thing you have to worry about.