As a business owner, you’ve a considerable amount of responsibility (employees, customers, the tax male) and frankly nearly all of the time, you are going to have to put the company as well as your own interests foremost and first. Or else you won’t be around to take proper care of the responsibilities of yours!
But there’s another side to this which truly successful entrepreneurs embrace – a side that’s about giving rather than being single and selfish minded.
These entrepreneurs understand that the more generous you’re with the time of yours, energy, and expertise the quicker you are going to accomplish your personal and business goals.
The more you give, the more you receive.
Do not believe me? Continue reading and I will describe.
Entrepreneurs Who Give More, Get More
In Business and in Life, Helping People is actually the Key to Success The more you help others to get what they would like, the more productive and content you’ll be.
“It is one of the most beautiful compensations of this life that no man can sincerely try to help another without helping himself.”
Ralph Waldo Emerson
There’s a common misconception that in order to get ahead in business, you have to lie, cheat, steal, and otherwise step on a lot of other people on the way up.
That may be true in the corporate world, but the opposite is true with most businesses. The more people a company helps, the more people will patronize that company and share it with their friends and colleagues.
“The easiest way to get what you want is to help others get what they want.”
The greater value you provide, the more you are worth. So focus your business effort on helping businesses and people other succeed.
Individuals Have a tendency to Return Favors
There are actually certain rules that we all follow.
In Influence: The Psychology of Persuasion, Robert Cialdini discusses something that he calls the rule of reciprocation.
Based on Cialdini…
The rule states that we ought to make an effort to repay, in kind, what another individual has provided us.”
I am certain you have felt that powerful sense of obligation when someone goes out of their way to do something good for you. You feel instinctively compelled to balance the scale with a return favor of your own.
This sensation of indebtedness goes back to probably the earliest stages of human society, when folks began sharing skills and resources to be able to thrive. Nowadays, there is not a single human society which does not adhere to the principle of reciprocation (according to the research of sociologist Alvin Gouldner).
Just how can you use this in your company? Exceed and beyond when working with various other businesses. Provide a service for free or perhaps promote them without asking for anything at all in return. When the time is actually right, those businesses are going to do whatever they can to return the favor.
Giving opens up your Network
Nothing has contributed more to the development of the personal business of mine than the network of mine. Nearly all of our customers have come from personal connections or perhaps referrals.
The larger and more effective the network of yours, the easier it is going to be for you to become successful. But just how do begin making meaningful connections – especially with folks who’re higher up on the food chain than you?
One of the ways is usually to come up with an introduction to somebody in the form of a good gift.
I tell you a story about this way of networking that illustrates how it may be effective:
A few years ago, the site of an influential technology blogger was taken down by a hacker. The top tier blogger was lamenting his site’s crash on Twitter when he received a message from one of the followers of his.
The follower was a young coder and he’d decided to check out the site to find out exactly how it’d been hacked. He presented the blogger with exact directions for how you can prevent another hacker from taking the site down in the future.
The advice was worth a huge number of dollars to the blogger, but the coder did not ask for anything in return. Rather, he earned himself a high profile connection. You are able to try the same thing to establish valuable new business relationships in the industry of yours.
Word Spreads Fast
Doing business is commonplace. It happens every day.
Being given something is a bit more exceptional. The exchange becomes a story that we are a lot more apt to share with colleagues and friends.
Just last week, I was given a stick of Bruce Spruce’s “man balm.” A couple of hours later, I discovered I was telling the friend of mine about receiving the lip balm. Without even realizing it, I was doing word of mouth marketing because of this business.
A great story is also at the core of journalism. As you read this, thousands of magazine and newspaper writers are frantically searching for a story to meet tomorrow’s deadline.
Every business would that way next article to be written about them. Periodicals have huge readerships, so being featured in one generates a burst along with new leads of traffic to the site of yours.
But offering a service or a product for a cost is not much of a story. Giving away that service or product to a worthwhile cause, on the other hand, is far more newsworthy. When your business takes part in a charitable deed, you increase the odds of yours to be featured in the press.
So in case you are planning to increase the profile of yours, consider giving back to the local community of yours. Not merely will word spread about the company of yours, the story is going to be about making it a positive impact.