Although the image of a red-faced manager driving a hard bargain may come to mind when thinking about a successful business, the soft tough might actually render even better results. Company owners who demonstrate a strong, caring attitude toward their business often grow significant profits for the following reasons.
They pay attention to details.
Caring business owners often notice the small things that can matter a great deal. They pay attention to company morale and analyze operational processes to ensure everything is working as it should. They often catch small issues before they become big problems, heading off expense and stress. Companies that operate efficiently tend to generate high profit margins.
They empathize with employees.
An effective company owner takes time to get to know employees. Understanding and addressing worker needs, motivations, and concerns shows the company a caring attitude that is both reassuring and admirable.
They treat others the way they want to be treated.
Rather than lording it over their employees, caring company heads work in the trenches with everyone else when needed. They are good listeners who accept suggestions and perhaps occasional criticism in a proactive way. They provide a supportive job environment and are responsive to employee needs for resources and accommodations to do their job well.
They take time to find out what customers want.
Bosses who have a strong emotional investment in their company make efforts to find out what the customer wants, and then deliver it. They believe in providing good value at a fair price, and they care about what their customers think, often soliciting feedback or thoughtfully reading reviews.
They invest in quality products and services.
Rather than take shortcuts on production or cut costs on goods and services, a caring business owner will invest the amount of time and money needed to run a company to be recognized as an industry leader. They take pride in meeting legitimate needs of customers and the community while maintaining a competent and satisfied work force.
Caring company owners operate their business to benefit many, not just themselves. They do things the right way, even the best way, to ensure satisfactory or exceptional outcomes. When problems arise, they don’t sidestep or avoid them. They tackle issues head on to keep the company operating at full throttle while remaining observant of employee and customer needs.
Business owners who care more about people than profits excel.
David Milberg is a financial expert in NYC with nearly 3 decades of experience in the finance industry. He is a long-time owner of Milberg Factors, a factoring and finance company with locations in New York, California, and North Carolina.