Your values are the things that you believe in, those things guide the way you live, the way you interact with people, the way you do business, etc. If your values affect every aspect of your life, then it also affects the legacy you leave behind when you’re no more. I will be looking at values with respect to wealth. Yes, your values determine your wealth.
Recently I made a small couch for relaxing at home and a small divider for decoders and DVD players. I patronised this roadside furniture maker, Wisdom. He delivered on the couch but sub contracted the divider because it was too big a thing for him to make. He was supposed to deliver on both goods in a week time as he promised. I got the couch a month after I gave him the job. Then I paid fully for the couch after delivery. After about 2 months I told him to refund my part payment for the divider because it was taking too long and his stories were not connecting. He apologised and agreed to give me my money. It’s over 4 months now and each time I call, his reply will be “oga I go bring am come house on Sunday”. If I call right now, I bet I will get the same response. I’m done asking for the money but he has lost a customer because I will never patronise him again. Plus his jobs were not professionally done.
Wisdom has business values even if he might not even know what values are. I think his values are improper and might keep him on the roadside for a while making furniture. I will outline some things based on my encounter with Wisdom.
Link between values and wealth.
There are big time furniture makers who probably started the way Wisdom did, on the road side. But their ability to turn one time customers to life time customers and referrers have given them a change in status. Only the right kind of values can do that for any business. Do you see the link I am trying to create between values and wealth? I will further explain with the following values;
Wisdom actually planned to create trust between us. But his inability to follow through lost him a customer, me. When you create trust between you and customers or people, they become loyal to you and your business. They become very comfortable with you and by default keep patronising you.
But if you just want to do business as usual without building trust, you just keep sourcing for new customers for the rest of your business life. I don’t fancy that. Only loyal customers can make you rich.
Honesty in business is key. Only a short sighted man will be dishonest in his business. I filled my 12 kg gas cylinder in May. I stay alone, don’t cook much, how on earth did this gas get exhausted in less than 3 months. It’s obvious the guy who filled the gas wasn’t honest. Once again, this guy lost another customer. If that guy keeps up with this attitude, he will end up chasing everybody in the neighbourhood. I guess he will have to look for a new business. If you want to be successful in the long run, honesty keeps your customers coming. But dishonesty only gives you a few bucks just for the now.
Hunger for personal, skill and business improvement
This is a very important value. Most people are comfortable the level of their business, personality and skill. But every business evolves, ethics evolves, and the skill you use for your business and at your job evolves. What makes you think you will still survive if you don’t evolve too? Evolving will make you serve people better. And it is in our nature to go where we get better service. Wisdom, the furniture maker lacks this value, his jobs are outdated, and hence he couldn’t even make a divider because he doesn’t care to learn new trends in his line of work.
Lastly, if the guy who filled my gas had this value, he would have been my “go to guy” whenever I needed to refill my cylinder. When you are loyal to people, they tend to repay you with loyalty. So if you want that customer to be loyal, first you have to be loyal.
I will end here. But it’s up to you to evaluate your life and your values, and develop the right values, because VALUES=WEALTH.
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