Resident Experts - Business & Financial

7 Lessons From My Daddy That Made Me Successful in Business

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October 4, 2013 Expert Themes: Business & Financial.

One of the most influential people in my life is my “Daddy”.  He just turned 80 and I was reflecting at his birthday party about the lessons that I learned from him and how it has helped me to be successful in business. These are lessons about Integrity and I would like to share them with you.

1.     Do what you say you are going to do. 

This may be simple, but I can’t tell you the number of times that I have had to follow up with vendors to remind them of what they said they were going to do.  It is so aggravating and if I have choices I don’t go back to these vendors.  I recommend that you take notes on work orders and have someone check to make sure that the job is really “done all the way” and everything that was promised is completed before it is released to the customer.  This extra step will keep your customers happy and keep your business growing.  The old saying that it takes 10 customers to replace one unhappy one is very true.   The unhappy ones share their unhappiness with others.

2.     Always, Always, do the right thing. 

It is very tempting, especially when it cost you money to stretch things or to not own up to mistakes.   But most customers are not fooled and you lose all credibility when you try to “get away with something”.  Even if there are mistakes made, explain, apologize and make it right, even if it costs you money.  I recently heard Dale Cardwell, with TrustDale.com speak to my Kiwanis Club.  In order to be recommended by him, a company has to promise to “make it right, ”  if there is a dispute with a customer.  He stated that this is the one thing that keeps businesses off his website.  They refuse to do this.  Isn’t that incredible?  Don’t you want repeat customers?  No business is perfect, there will be mistakes.  I believe it is how you handle the mistakes that “sets” you apart from the other businesses.

3.     Go the Extra Mile. 

I have also seen this phrase added at the end: “it is never crowded”.  Isn’t that the truth!  So many times when I go into stores, the staff do only what they absolutely have to do to respond to my questions.  I don’t always know what product I want or that I need, therefore, I want someone to make suggestions of products and to explain the difference in products, instead of just telling me to “go to isle 2.”  This makes a huge difference in the quality of customer service.  I have walked out of stores that have forced me to fend for myself.

When I was sixteen, I worked for my Daddy at the family owned marina in Florida.  Everyone worried about Hurricane season which was between June 1st to December 1st each year.  A new customer walked into the showroom on June 1st and wanted to store his boat in dry storage in one of our buildings for Hurricane season.  It was a large boat and it would only fit on the lower rack but we were full at this level.  He was upset and he had been to a number of marinas with no luck.  He was leaving town the next day for the summer and he was frantic about what to do about his boat.  I asked him to give me an hour and I would see what I could do.  I went out to the storage buildings with the forklift driver and we measured and figured out that we could move a particular boat up one level and make room for the new boat.  With the help of the forklift driver and with my climbing up the bars to make sure he didn’t break the windshield, we moved a boat to make room.  I called the customer and explained what I was able to do for him.  He was so excited that he came in and paid for an entire year’s storage in advance.  As if that wasn’t enough, 8 years later I opened my first CPA practice and I put an announcement in the paper.  He called me and I recognized his name, but I didn’t remember the story until he reminded me.  He told me that there was no one else that he wanted to be his CPA, but me.  Customers remember what you do for a long time because going the extra mile makes you stand out in the crowd.

4.     Do it right the first time. 

This sounds simple but it is not.  How many times have you been in a hurry and wanted to take short cuts to finish a job faster?  We all have been there at some point.  But what happens?  Something goes astray, it breaks or it doesn’t work right.  My Daddy used to drive me crazy taking so long to do a project with me.  Because he measured precisely, sometimes several times, then double checked the instructions, studied the project, and that was all before he would hammer, glue or screw anything together.  But when he finished it, it was something to be proud of! 

In my CPA business, I sometimes get tired of asking my clients so many questions to prepare a tax return.   But the one time I assume an answer to get the return finished faster, it is the one time I should have asked the additional question.   I know that sometimes it is annoying, but I would rather annoy a client a little bit, but explain why I need to ask the question, than to miss a deduction that would save them more taxes.  Usually after they work with me the first year, they don’t mind the questions.

5.       Do your best all of the time. 

Now this may seem like this is the same as the one before, but it is not.  We can all “get ur done”, even “right the first time” BUT have you done your absolute BEST job?  For example, I can prepare the tax return and do a great job, but my “best” would be making suggestions to do things differently the next year to save more taxes, to offer suggestions to save them money in their business, to improve their cash flow, etc.   Resist the urge to “get it off your desk” and stop and think what you could do to offer your “best” to that  customer.  They will be ‘wowed’.

6.       Always tell the truth. 

How many times are we tempted to cover up a mistake, maybe blame someone else for the problem instead of taking responsibility?  Customers are not stupid, they can tell when it doesn’t seem right.  They are usually surprised when you admit to the mistake but the next thing to do, as we discussed above, is to make it right.  Your customer will remember that you could have tried to hide it, that you took the high road and the will respect you for it!

7.       Just because everyone else is doing it, doesn’t make it right. 

Growing up, I would see other people doing things and even though I knew it was wrong, it seemed that if others were doing it, maybe that made it ok, right?  WRONG!  Daddy would say “if everyone jumped off a cliff, would you do it too?”  The bottom line is to think for yourself, take responsibility for making your own choices and decisions and then accept responsibility for the consequences.  In business, take the road less traveled, take a chance and stand out!

 

In an age where it seems that everyone looks out for themselves first, it is refreshing to customers to be “surprised” and “wowed” when you always do these 7 things.  It will make you stand out and be noticed above the crowd.  Customers will spread the word for you and refer business to you.  They know they can depend on you because you and your business have Integrity!  Thank you Daddy for teaching me these 7 valuable lessons so that I can apply them to my life and to my businesses and experience success at new levels!

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Growth, Performance, Integrity: Key Components to Successful Business

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July 1, 2013 Expert Themes: Business & Financial.

I am delighted to join Bonnie Ross Parker and the Xperience Connections’ Team as a XC Resident Expert, educating “Women That Make It Happen”   on Business and Financial Matters!  I am a CPA with over 35 years of experience, and I will be sharing advice to help your business obtain maximum growth and performance and
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