Money comes from abundance

“Without a rich heart, wealth is an ugly beggar”.

- Ralph Waldo Emerson

 

Money comes from abundance; abundance doesn't come from money. Abundance  pervades the lives of people and organizations if they work in the interest of the common good.

 

Jack Stack, the CEO of Springfield Remanufacturing Corporation (SRC) -a $ 50 million company with 475 employees, says, “I've learned that there are certain higher laws in business. One of them is, ‘You get what you give'. I don't know where I got these laws. You don't learn them in the college. You pick them up on the street. I probably got them supervising 2,000 or so people at International Harvester (the company where I worked earlier as a middle manager and from whom I later bought SRC - an ailing division I was sent to shut down) and then here. But I know they are real laws.”

 

Your customers must trust you 

 

Guarantee results

 

 

Offer people to pay you only when satisfied.

 

Jay Abraham, a leading American Business advisor, who charges his customers almost ten times the fee than others in the field says, “I get the rate because I assume all the risks by absolutely guaranteeing the result the client wants. I guarantee that if I don't make them get the results, I will return and rerun the training, free of charge, until I do so. Why wouldn't you guarantee? If you cannot, you are taking their money and running away, and that's no way to build a business.”

 

Understand your customers

Understand your customers and their problems and expectations thoroughly. Think these to be your own. May be the customer can be helped by an additional product of yours about which he did not know. When you make an attempt to know your customers and serve them accordingly you are bound to increase your sales and expand your business. Trust is not built overnight; it can only be lost that quickly.

 

The Johnson & Johnson story

An exemplary example of building customer confidence occurred in 1982:

 

Johnson & Johnson took upon itself losses worth $100 million, incurred on widespread lab-tests and a nationwide recall of their Tylenol capsules fearing they were spiked with poison.Despite almost immediate vindication of the company and convincing evidence that the tampering had taken place only in a few stores of Chicago, the company did not deter from feeling its responsibility towards the people.   Later the capsule was released in triple-sealed safety packaging when the executives were convinced that there was no risk even to a single Tylenol user.The company not only regained its share but also earned new and loyal customers.