A test of loyalty
Time for a change?
(This article is based on the ideas in Uncle Ralph’s books for entrepreneurs, DON'T DO IT THE HARD WAY & The Complete Do-It-Yourself Guide to Business Plans.)
In times of economic crisis, we are faced with difficult choices in a stressful new environment. Loyalties are tested and we’re wondering if it’s time for a change. A change in suppliers, customers, management, or employees. Who are all looking at making the same choices for themselves.
There are two primary factors to consider:
How strong is the loyalty already established?
How have the two parties responded during the recent period of crisis?
The purpose of every business is to build loyal, long-term, profitable relationships with customers based on equally solid relationships with the management team, employees, and business partners. They have all been tested during the past year of the global pandemic. How have they responded? Do they deserve to be supported or to be replaced?
And what about you and your business? What are your customers, employees and business partners deciding? Take a closer look and make sure everyone is making good decisions based on the right information.
Constant communication of what you’re doing and how you’re doing it, will be important to re-establishing the loyal, long-term, profitable relationships that will ensure your success going forward.
Be better. Do better.
Del Chatterson, Your Uncle Ralph
Learn more about Enlightened Entrepreneurship at: LearningEntrepreneurship.com
Read more of Uncle Ralph's advice for Entrepreneurs in Don't Do It the Hard Way & The Complete Do-It-Yourself Guide to Business Plans - 2020 Editions.
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