What is a high-value business? I’m sure you have encountered companies that are a pleasure to work with, and of course, those that are not. The traits of a high-value business are many. But what are the qualities that make you feel good about working with someone?
I put some thought into it myself and managed to narrow it down to eight primary categories (in no particular order). These are the ones I consider to be the most desirable features of a high-value business that I would want to do business with! Does your business possess these traits?
A high-value business operates with confidence and possesses an approach of success rather than scarcity. You and your staff must be confident in the products and services you offer regardless of any outside negativity or competition. And you should be strongly grounded in the foundation of the value of your business.
While your confidence and that of your staff are integral, that should never come across as arrogance or entitlement. To be successful, I advise checking your ego at the door. I mean, who enjoys working with someone who is “full of themselves?” I know I don’t.
You should stand in the self-assurance that your business is worthy. By doing so, those you work with will understand that your concepts, ideas, and creativity deserve merit. You will not be easily intimidated but will be open to feedback and constructive criticism without coming unraveled.
A high-value business also operates within the highest standards of quality. Anyone who works with your business should believe that your word is your bond. Honesty is integral to your success, so you must always exude class and insist on it in return. After all, you deserve it!
When you make a mistake, own it immediately. Remember to extend grace to yourself and your staff when snafus happen. You are only human, after all! Keep in mind that presenting potential solutions is much more valuable than just an apology. By readily admitting your errors, you will gain the respect of your clients and vendors.
Do what you say you’re going to do. This will help you build a solid reputation that will take your business far. Learn how and when to say no. Overpromising and under-delivering is a sure-fire way to lose clients and damage your brand. So be sure to turn down work your business can’t complete in top-notch fashion and on time.
Conduct business by the Golden Rule. Treat others the way you want to be treated and put some distance between you and those who don’t reciprocate. Otherwise, you might find yourself being tempted to deviate from your circle of integrity.
A high-value business functions from a place of kindness and patience. Have you heard the old saying, “you get more flies with honey than vinegar?” Potential clients and vendors are much more likely to be drawn toward compassionate and understanding business practices than a negative or demanding attitude.
While it may not seem so, there is power in kindness. Caring and warm behaviors tend to have a boomerang effect. So, surround yourself with like-minded professionals to empower your business.
Create a healthy and happy work environment that nurtures kindness. And exhibit a genuine desire to connect with and help others. If you do, people will be more likely to want to work with you.
A high-value business is never stagnant but is always in a process of growing. Accomplishing this requires an unwavering dedication to be better today than yesterday. The business world is constantly changing, and you must be flexible and fluid to change with it.
Set aside your pride and be willing to reach out to others to learn. It will increase your business acumen and improve the efficiency of your business. There are tremendous benefits in seeking out mentorship from those who have achieved success. Be eager to expand your products and service offerings as needed to help your business grow. And seek self-learning opportunities to bring more value to your business.
Learn to be open to ideas from others to maximize your business effectiveness. Take advantage of networking opportunities to connect with your peers. And post regularly on your social media sites to connect and engage with your audience to keep it growing.
Much like people, businesses have personalities. Do you want people to think of your business the way they would an immature child or a hot-headed teenager? Of course not! As a high-value business, you want to be perceived as a wise and capable adult. And as a rule, you should avoid aligning with clients or vendors who haven’t grown up yet.
To have this reputation, you need to exhibit mature behavior and give well thought out responses (rather than impulsive reactions). Don’t waste your time engaging in head games with your clients and vendors – your time is way too valuable. And steer clear of using manipulation or passive-aggressive behavior to get what you want. It exudes immaturity and insecurity.
A mature business is also perceived as organized and responsive. In other words, you are present and available to your existing and potential clients. No one wants to work with a ghost. Respond to voice mails and emails promptly. Doing so shows that you respect others’ time and expect the same in return.
An important trait of a high-value business resides in its authenticity. It takes courage to be authentic. But to help you find success, you need to be willing to be original and set yourself apart from the crowd. The best way to do this is to simply be true to yourself.
Be genuine and let your unique, creative nature shine. It will help you find greater confidence in yourself, your capabilities, and your business model. And with that in place, you will not be easily intimidated by others.
Stand strong in your authenticity and ask openly for what you need from clients and vendors. Remember, your needs are just as valid as everyone else’s. Understand your worth and let it propel you to success.
Determine your boundaries and stick to them! Always avoid unnecessary confrontation but show strength in the face of opposition when need be. Be willing to take risks but know the difference between a calculated risk and a shot in the dark. Be courageous when making decisions rather than maneuvering in fear.
Confidence and enthusiasm for your work will result in a passionate flair that is clear to everyone. A high-value business exhibits a passion for its trade. Think for a minute – have you ever worked with someone who is obviously unhappy with the kind of work they engage in? If so, you know the deflated, lackadaisical mindset it causes.
Your excitement for what you do is attractive to others and is contagious (in a great way). When you show that you’re eager to jump into a new project, chances are your client will be excited to work with you too. Be passionate and let that sentiment for your work always shine!
Pursue your dreams for success unapologetically. And don’t let disappointments deter you. Rise up and regain your footing. Stay firm in your passion when moving past any challenges you encounter. You’ve got this!
Balance must be maintained in a high-value business. It is true, what you put in is what you get out. However, there is a tipping point at which all work and no play can hurt business overall. Work/life balance is imperative to your success. Everyone needs an outlet to recharge their batteries.
What makes you feel regenerated? It could be spending time with a loved one, curling up with a book, enjoying a long bubble bath, listening to music… whatever works for you. Burn out is a real thing. It can destroy your passion for your work. It can hinder the growth and profitability of your business. And it can impair your potential for being helpful, kind, and compassionate.
Establish your professional parameters and stick to them. Don’t routinely work outside your business hours. And don’t say yes to projects that don’t fit into your business model. An occasional deviation from your parameters is acceptable – but only if it is the exception and not the rule. Work to live, don’t live to work.
Many factors go into establishing a high-value business. Does your business incorporate some or all these traits? Strive to be (or continue to be) a high-value business. Regularly evaluate your business model and your business behaviors to ensure your company is operating as the best version possible.
You don’t have to do this alone! If you’re overwhelmed and need help, sign up for an introductory business strategy call, and I’ll help you make decisions on the next steps for you and your business.
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