How to Apply the Golden Rule to Your Small Business

 One of the keys to our success is following the Golden Rule. You've heard of it right? Treat others as you would want to be treated. Did you know that this is a crucial practice in the small business world as well?  Think of the extras that put your business over the top: relationships, customer service, reputation. So, how can you make the Golden Rule part of your business practice

  1. Customer Service

Did you know that it costs five times as much to attract a new customer than to keep an existing one? The goal of any business should be to retain customers and build  loyal relationships, and thereby avoid customer acquisition costs. Using the Golden Rule, think about how you like to be treated when you're the customer. Do you appreciate things like quick response time and personalization? We recognize that this is especially hard to focus on in a start-up environment, but remember, most small business owners indicate that word-of-mouth is the most important means of expanding the business. So your customers' loyalty will attract new customers as well.   shutterstock_234358672  

  1. Give

We talked about customer service as part of the Golden Rule, but it's also important to give back to your community and to your fellow small business owners. Good public relations stimulate a loyal customer base and a long-lasting relationship with the local community. For example, donate goods or services to events when possible. Place ads locally even if think your return might not be the best. Also, be generous and promote other small businesses. Create a list of favorites or a gift guide on your Web Site. Offer an interview or guest post on your blog.  Like, heart and retweet!!! Your helpfulness will come back to you when people are thinking of what businesses to patronize.  

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