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Added for You - Honesty In Business - Does It Pay? Is Honesty The Best Policy?
Every community has 'em. Fast talkers who roll into town with a clever idea to sell to people in business.Many times the ideas are clever and cute but you should weigh the ups and downs of every offer before you dig out the checkbook. Most of these in-town-for-a-day people want their cash up front.Some of the common ways to separate you from your cash are:Coupon BooksThey offer to put you in a giant coupon book to be sold for the needy charity or Lions Club. Books are sold on
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and
How many of you have faked the smallest (yes, considering it forgivable) details in your resume. Oh, don't feel offended, I just knew that it's a bitter reality that many of us do without thinking it a thing that may deserve a thought. If seen in a Cause-and-Effect scenario, at the Cause level, there are several things that might or might not really result into desirable or undesirable effects. In the hopes of good result and thinking our employers chucking the minute lies in our profil
The truth is . . . many people are honest only to the point where there is the possibility of being caught and when sanctions are applied without fear or favor. Those same people will be dishonest whenever the chances of being caught is slim or where sanctions are hardly applied due to corruption of the institutions meant to apply the sanctions.
The result?
Explosion of corruption.
Now to the business world. The goal of every business is to maximize profit. The more transactions a business engages in, the more the profit potentials. And the greater the profit margin per transaction, the greater the overall profit of the business. Hence, business managers seek to maximize the returns per transaction in order to maximize the profitability of the business.
Honesty in business, on the other hand, means you lose opportunities to make more from each transaction because you tell the truth. Here's a typical example: Suppose you're an electronics technician. A client brings her electronics to you. The fault? The electronics equipment does not come on when she powers it. You do a routine check and find that the problem is a blown fuse. If you tell her the truth about the problem, she will pay you less because it will take just a few minutes to fix.
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will begin to look for fresh ways to cut corners, outsmart your clients, and make more money.
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and
ConsequencesThis situation can be particularly difficult for those who require financial assistance in continuing college education, which requires 3 to 4 years for completion. As a result, high school graduates are increasingly taking up low-end, monotonous jobs of lesser importance, challenge and value. These have little potential in offering a lucrative and rewarding career. The recent tendency of employers seeking professionals who already posses pre-developed skills and talents instead of h
Explosion of corruption.
Now to the business world. The goal of every business is to maximize profit. The more transactions a business engages in, the more the profit potentials. And the greater the profit margin per transaction, the greater the overall profit of the business. Hence, business managers seek to maximize the returns per transaction in order to maximize the profitability of the business.
Honesty in business, on the other hand, means you lose opportunities to make more from each transaction because you tell the truth. Here's a typical example: Suppose you're an electronics technician. A client brings her electronics to you. The fault? The electronics equipment does not come on when she powers it. You do a routine check and find that the problem is a blown fuse. If you tell her the truth about the problem, she will pay you less because it will take just a few minutes to fix.
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will begin to look for fresh ways to cut corners, outsmart your clients, and make more money.
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and
According to the International Medical Spa Association there are over 1,000 open medical spas in the U.S. Jeff Russell, CEO of MedSpa Financing says, “Competition is definitely setting in, and it’s not only direct competition from other medical spas, but indirect competition from businesses that offer the same services. You have salons that offer hair removal, day spas that offer dermal filler injections, and mall outlets that offer microdermabrasion.” If you are going to not only succeed, but thrive in
Bottom line.
Your earnings for this transaction will be small. Several small transactions like this will mean your earnings for the month will be small. And you have serious bills to pay! Therefore, you may be tempted to get more from this client by magnifying the problem. For example, you may tell the client that the problem is a burnt transformer. She believes you. She trusts your judgment. So she pays for the cost of getting a new transformer. And since installing a new transformer takes a lot of time, she pays much more in service fees or professional fees.
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will begin to look for fresh ways to cut corners, outsmart your clients, and make more money.
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and
Color printing furnishes reproduction of images and text in color, which cannot be produced in monochrome printing processes. The technique is also referred to as four-color process printing when only CMYK, i.e., cyan, magenta, yellow, and black are used while printing. Six-color process printing is another method of color printing that involves addition of orange and green colors to the traditional CMYK color scheme, making possible more vibrant color combinations.However, a series of steps are
You go home a happy man because you made a nice profit for the day. You fooled her successfully. And she may never know it. The problem is that you won't stop there. Once you've tasted the ease of making huge amounts of money for little work, your greed will take over. You will begin to look for fresh ways to cut corners, outsmart your clients, and make more money.
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and
Thinking of starting a business? Maybe you should think about an existing, established business by purchasing a franchise. The company will already have a proven track record and operating system in place. Franchising creates opportunities and jobs as well as growth for the franchiser.Franchises often allow you to sell goods and services that are well known and recognized by the public. Brand recognition, advertising, group purchases, training, and support are just a few of the benefits of own
The good news is this . . . sooner or later you will be caught. Then the news will spread like wild fire. Your credibility will be consumed by the flames of your clients' rage. And so will your source of income.
So, does honesty in business pay?
Yes.
How?
When you're known to be honest, people are comfortable doing business with you. They know they can trust you. Often they will test you out to be sure the reports they heard about your honesty is true. Then they will begin to trust you big time. They will return to do business with you. And they will tell friends and family. They are proud to recommend you because they know you won't let them down. They know they can trust you to keep your word.
As the news spreads, your business grows. Honesty in business results in customer satisfaction which results in more business. Yes, your profit margin per customer may be low, but multiply that by the increased volume of business you get due to your honest dealings and you get a huge profit. There's another advantage of honesty in business . . . you build a long-term business.
Dishonesty destroys your business. Any gains and benefits you get from being dishonest is only temporary. When the truth gets in the open, you will lose everything. Want to build a lasting business?
Make honesty the only policy in your business. Honesty in business is, indeed, the best policy.
For me, it's honesty or nothing.
Do the same and you will be happy. You will build a real business . . . a profitable long-term business.
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