The Golden Rule of Business

We have all probably heard the old adage: “He who owns the most gold, makes the rules.” While this is certainly not the traditional golden rule, it highlights the leverage power of possessing a valuable commodity. One such commodity that every business must take stock in is excellent customer service. Like a storehouse full of gold, a good business reputation and excellent refer-ability pave the way for a business to continue, to grow and to have a greater impact on the community at large.

How does ensure great customer service? Well, this is where we re-visit the “real” golden rule: “do unto others as you would have them do unto you.” Could you imagine a world in which everyone practiced this rule? Whether the specifics of a particular business model involve making customers feel as if they were in your own home with hospitality, engaging with a proactive approach that anticipates their needs and offers a solution as soon as possible, or just simply makes a point to treat them with the dignity, good customer service is imperative to successful business.

An important note to remember is that everyone is in the customer service business. Every business has customers, even if those customers are, in fact, other businesses. It is easy to get far away from focusing on the importance of positive relationships with customers when the red tape piles up, and when policy issues, licensing concerns, expenses, etc., all threaten to drown the operations of the enterprise. However, when one remembers that the business literally would not exist without the customer, it is vital to remember that the customer, then, is the boss.

Businesses have internal customers (colleagues) as well as external customers. It is especially important that support departments (such as IT, Finance, HR, etc.) be customer centered to delight their internal customers. Superb service takes a transactional customer and converts him to a client.

At this elevated place, the relationship becomes most important and it reduces the tendency for the client to commoditize a product/service (i.e. it becomes less about price). When the client thinks about your business, do they see a static picture of the end product? Or do they see a movie playback of all the great experiences and warm interactions they have had with the people there?

In today’s highly diversified marketplace in which the customer is bombarded with nearly infinite choices, customer service is the only true differentiator. Technologies can be copied and products imitated. However, cultures take years to establish. A good team culture that focuses on the customer is a long-term investment that is worth making.

Howard Schultz, CEO of Starbucks, is a great example of someone who took this lesson to heart. He created a culture in which people were willing to pay a premium for the product because they received more than a fair return from the service (individualized drinks, calling out the customer’s name, etc.). At Starbucks, and at every business, it must be ALL about the customer!
 
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