What is one reason why doing good business is important to your success?
To help business owners understand the benefits to doing good business, we asked CEOs and business owners this question for their best insights. From providing meaning to your life to helping others in need, there are several reasons that may help you see the advantages of good business and how to implement these ideas into your company.
Here are nine reasons why good business matters:
- Provide Meaning to Your Life
- Blend Purpose and Profit
- Improve Your Online Reputation
- Create Lasting Connections
- Helps Your Bottom Line
- Earn a Sense of Achievement
- Helps Others in Need
- Boost Customer Confidence
- Nurture Loyal Customers
Provide Meaning to Your Life
It’s critical to my success. It gives purpose and meaning to my life to contribute in this way. I don’t believe that businesses are built in a vacuum of no emotion 一 they are, by default, built by people. My day-to-day experience would be hindered if I wasn’t using my business as a channel to do at least a little bit of good in this world.
Tanya Moushi, Moushi & Co
Blend Purpose and Profit
Doing good business is a no-brainer approach to business. It blends purpose with profit and has many intrinsic outcomes. When we grow awareness, sales, and ultimately profit for the companies we serve, we are contributing growth to their employees, their customers, and the far-reaching communities they serve. Doing good business is becoming more and more crucial to your internal and external stakeholders and will be the way businesses will have to operate in the future.
Jenn Christie, Markitors
Improve Your Online Reputation
Doing good business means our service is a good fit for that customer and we are able to perform to the standards we hold ourselves to. Our primary marketing efforts are in the online space so reviews and customer experience are very important to us. If we agree to bad business or do a poor job, our online reputation is at risk with bad reviews we could have anticipated and avoided. For this reason, we are always transparent about whether we think we are the best option for them or not and we are genuinely happy to be able to help them make a decision to go a different direction if it serves them better. It leaves a good impression of our company either way. We’ve actually received some great referrals from people we never worked with because they trusted us.
Phil Bryson, Easy AZ Home Buyer
Create Lasting Connections
By doing good business, you’re much more likely to create lasting connections with your customers. When customers can see that a company is truly doing its best to have good ethics and values, they are more likely to continue doing business with that company. Customers enjoy knowing that they are spending money with a company that cares about them, their community, and the world as a whole.
Andrew Bernstein, Kinder Beauty
Helps Your Bottom Line
When you’re running your business the right way, it shows in your reviews. Our audience is typically B2B, so we send satisfied customers to our G2 reviews page, an industry standard for software companies to collect reviews and prospects to compare and contrast products or services. The reviews are all credible and honest, and interested prospects will come across these reviews when searching Google. And recent studies show that consumer reviews are trusted nearly 12 times more than product descriptions and produce an average 18% uptick in sales. When it comes to your business’s bottom line, doing good business just makes sense.
Shaunak Amin, SnackMagic
Earn a Sense of Achievement
Doing good business is not only beneficial to your clients and yourself, it equally helps you have a sense of reliving on a personal level. When you commit yourself to do the right thing for your clients and your community, people notice and trust you for it. It gives you a sense of satisfaction for having done something good. A sense of achievement in both the professional and personal life is what makes good businesses prosper.
Ann Young, Fix The Photo
Helps Others in Need
Running a recovery center requires compassion and understanding. I believe that our success depends on how well we can help people stay sober and the benefits we can offer them. We make sure that our doors are always open for those who wish to walk the path of sobriety.
Greg Hannely, Soba Recovery
Boost Customers Confidence
I’m passionate about creating eyewear that customers need and love. Stylish glasses can give customers confidence. Being a part of that process is moving and rewarding. We have been doing business since the early 1900s and our online store offers a wide array of options so there’s something for everyone.
Fred Gerantabee, Foster Grant
Nurture Loyal Customers
Doing good business means providing customers with a product that delivers what it advertises itself as and trying in earnest to resolve customer problems and issues to ensure a positive customer experience. Our success is dependent upon this philosophy because there are so many SaaS offerings out there right now. It is so easy to leave a bad review for a company that can end up dissuading others from doing business with them in the future, that it is quite literally bad for business not to prioritize good business. In short, we see doing good business as the way by which we retain our current customers and encourage them to act as brand ambassadors for us online, singing our praises to potential future customers.
Sebastian Schaeffer, blogrolling