Loyalty in this business – sounds like a dream. It is written on all companies’ mission statements – but in reality - loyalty is rara avis.
To be loyal to a client – means to build a long-term business relationship with him – and not to find ways to push him aside – and deal directly with his client for a higher profit. To help him when he is in trouble and not to dig his grave when he is in trouble by increasing the prices or making the trading terms tougher just to protect you first. Unfortunately, major companies and retailers look down to smaller partners and easily forget the time they were helpful for them.
To be loyal to a vendor – means to be open and share info so you can build a sustainable trading history. A win-win relationship with no hidden agenda should be the goal of both parties.
To be loyal to an employee – means to build such a working environment where he can feel safe, where his opinions are valued and his input is encouraged and he is not just a disposable tool, easy to be replaced when the company feels like it.
But this is theory – and fairy tales- in reality – you must always watch your back:
-watch for the client that will lie for a future discount;
-watch for a vendor that will accept to sell to your client and cut you off;
-watch for your employee that will try to copy your business and leave with your professional secrets
What I can say – after spending so many years among in this returns & obsolete stock business is that who betrays my trust can do it just ONCE. His loss will be for sure HIGHER than mine, because they will loose all my future business, all my support and my friendship!
ATTRACTING REAL LEVERAGE Ltd