As entrepreneurs we do a lot of things to survive the competition and stay in the market. However, not all the things that we do are right. While these practices can add to our profits for some time, they won’t let us win the trust of our customers which keeps us going in business.
Personal integrity and strong moral values matter a lot when it comes to running a business. Here are a few things you can do to make sure you are doing the right thing at all times and sending the right message across:
Communicate your values consistently
If you want to survive for long you will have to make it evident that it is your values that drive your business goals. Make sure you communicate these values, to your employees as well as your customers in every interaction that you have with them.
Build your culture around your ethics
While hiring the right people is very important for every business, it is also important that you give them the required training and support on a regular basis. Make sure they understand your business ethics and live up to that. Reward them whenever they make the right decisions with regard to adherence to ethics, sustainability, and responsibility.
Focus on your long-term priorities
Most entrepreneurs end up being crisis managers in their efforts to deal with day-to-day issues efficiently. With this kind of approach it becomes difficult to balance your priorities. Your focus should always be on your vision and long-term goals if you want your actions to speak.
Set higher standards
You will have to set high bars when it comes to product quality, customer service, employee satisfaction, and social responsibilities. You can’t go on making excuses for lapses. Day-to-day demands are going to be there for as long as you will be in business; but you can’t let them take the reins and drag you away from your course.
Be a role model for your team
It may not be possible to train your team members to handle each and every possible contingency; but you can always define the ethical guidelines and set the right tone through your leadership. Focus on being a coach instead of a dictator. You will have to communicate with them constantly, recognize their efforts, encourage accountability and motivate them to do better.
Pay heed to feedback
Almost every company that wants to be in business takes steps to collect feedback. However, not every company acts upon the feedback thus collected. If you are a great business leader you will understand the importance of the long-term impact this can have on your business. Be in touch with your customers and employees directly. Find out what they have to say. Make sure you use their feedback to improve your policies and processes.
Doing the right thing doesn’t always come naturally. You will have to learn from your mentors, advisors and peers and make sure your team follows ethical business practices. Keeps it going. You will reach there soon.