Transparency Is Key In Business

I have chosen the path of a business owner for some time now, and I can say that it's not been an easy route. The journey may appear easy on the surface, but the reality checks should not be taken lightly.

One thing about business is that if you mess with it, you've already messed up. The moment you begin to think you are too smart and can override people through your business is the moment you tend to witness the end of your business.

I have seen a lot of people dive into businesses, but in no time, they are not into it anymore. There are surely some kind of secrets to those who have had theirs running over the years. I am sure that if you feel business is just something you can dive into just because you are interested in it or you have someone you feel you want to mimic, then your sustainability is a joke.

The question here is “how do I cope in the long run?” Comparing yourself to that person who has been successful over the years, did you know what they have been doing to keep it going, or what they have faced to gain sustainability in the business? But you felt it was as simple as ABC, then you dove in. Just expect to see yourself diving out in no time, then your shoes will be thrown at you as you race your way out of the field.

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There is a lot to be considered before starting a business, and I will list a few here.

The first thing to be considered is honesty. You have to be honest as a business owner if you want to have your business running on time and not collapsing. It might sound weird that if you don't lie, you might not make a profit. But the reality is sincerity keeps you on track and strengthens your reputation.

Another important factor is capital and backup. As a business owner, you should make sure you have enough capital to start up, and not just starting up, but have some backup funds.

I see some people just think that when they get a huge sum of money, they can get their business running with it. That's a no! Because businesses are built on either profit or loss. When do you lose? What are you relying on before profit surfaces again?

Another thing is a suitable and friendly environment for the business. Making a market survey before starting up the business is an important factor.

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Ethics Vs Profits

You might ask me if I don't like profit. No one will ever admit to that. But making profits shouldn’t come at the risk of greediness. The urge to earn more than the normal, or the wisdom to think you can outsmart others. It is best if you can buy, sell, and take profit in the normal way.

This is where ethics comes into play. And yeah, ethics is not about being so childish at handling your business or becoming a Samaritan at it. They will surely take advantage of you. The best you can do is to be transparent with your dealings.

I watched a video recently about transparency in business dealings. It was about a butcher who sells chicken. It was about his closing hours, and he got just one chicken left. A customer walked in and asked for the chicken. He brought it out and weighed it. The customer asked if he could get other ones left that are bigger.

He took the one he scaled back to the freezer and brought it out again. Then he pressed the scale with his hands to add more weight. The customer then said. Please, can I have both chickens?

At that point, he has to choose between profit and ethics. Had he been sincere, then he wouldn't have found himself in such a messy situation.

There are times when you get away with your tricky acts, but every day might be for you; one day it will be against you.