Most of the time, we post articles to our blog that have to do with web design, search engine optimization, social media marketing, and other related topics. Those are our specialties, after all, and the subjects clients turn to us for advice about.
However, it’s worth remembering once in a while, that even in the digital age there are some traditional rules of business that endure year after year. No matter what’s going on with the internet, here are seven things you should always keep in mind when making important decisions for your company…
#1 People do Things for Their Own Reasons
Whether it’s your customers or employees, people take action based on their own motivations rather than your wishes. When you can remember that, you get better as a marketer, are more persuasive as a leader, and can manage your team more effectively.
#2 Spending on Knowledge Pays Off
There is nothing in your business that’s as valuable as your own mind. When you develop an existing talent or pick up a new skill, you gain an advantage you can carry with you for the rest of your life. Don’t overlook the value of investing in yourself, because that time and money pays you back again and again.
#3 Your Reputation is Everything
If customers, vendors, and employees are constantly saying good things about you or your business, then every offer or arrangement moves forward more quickly. That’s particularly true in the digital age, where impressions and feedback are being shared continuously and in real-time.
#4 The Customer is Always the Customer
No, customers aren’t always right. However, they are the ones who pay your bills and support your business. You don’t necessarily have to bankrupt yourself keeping them happy, but you should always remember that it’s easier to keep the customer you have than it is to find another one.
#5 There is a Difference Between Costs and Investments
If you spend more than you make, your company is always going to be in trouble. However, if you refuse to invest in new technologies, processes, or ideas, then your business can’t grow, either. Learn to separate needs from wants and costs from investments. One set generates a consistent return while the other just drags your bottom line down.
#6 You Don’t Always Have to React to a Competitor
You are always going to have competitors. Some of them are well-known to you, while others will seem to creep up out of the blue. They are trying to win customers just like you are. Don’t feel compelled to react to every crazy sale or promotion they come up with. It’s usually smarter to focus on your own business instead.
#7 Time Away is Invaluable
Wisdom comes from learning and experience, but perspective usually only arrives at a distance. In other words, you should never work so hard that you don’t have time to get away from it all and enjoy your friends and family. The relaxing moments you spend away from the office are often the ones that yield the biggest insights and breakthroughs.
The pace of change in the digital age makes it easy to focus on short-term tactics, but strong and proven pieces of wisdom always have their place. So, keep these seven rules for business success in mind and combine them with the other great pieces of advice you see regularly on our blog. Put it all together, and you’ll have the formula for a very profitable company!