Who remembers trying to solve the Rubik Cube?
The Rubik Cube is like business if you take the time to understand the algorithm and how it works. You never thought this toy that people (including me) spents hours trying to solve was teaching us something about business.
The Wrong Algorithm – How NOT to run a business
Lets looks at a few statistics.
Courtesy of HelpScout.net.
78% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience
A typical business only hears from 4% of its dissatisfied customers.
It takes 12 positive experiences to make up for one unresolved negative experience.
The Correct Algorithm- How to run a business
If you offer something, follow through and deliver. Clients/Customers do not appreciate people being unreliable
Be honest, this will show people you are trustworthy to do business with. Being dishonest may get you the sale but in the long run it will not pay off.
Treating customers with dignity and respect is extremely important, it builds trust and bonds that can grow over time. Always remember, happy customers leave great reviews, and unhappy customers keep leaving ‘bad’ reviews.
If you think about it, this small toy was teaching us statistics for success when we were kids. Running a business requires patience and common sense.