A Basic Business Principle

There is one basic business principle that is often ignored but is probably one of the most important principles for success. This business principle doesn’t take a lot of training nor do you have to have an MBA.

What is that simple principle? : BE RESPONSIVE

That is it! In business there is a strong perception to those that are responsive. It tells your clients or your co-workers, “I am professional, I am in control and I care about what I do.” If you are not responsive when dealing with your clients, customers or co-workers, you will lose your creditability quickly.

I know at times that the reason people are not responsive is because they don’t want to be the bearer of bad news, but if you think about it, that bad news will have to be shared and it is better sooner than later.

I was recently dealing with a Commercial Lender on obtaining the financing for a project. I provided all the necessary information to the lender and they told me I would have a response within the week. I checked-in periodically but I never received a response. All I really needed was, “we are working on it” or “just to let you know where we are on the deal.” I got nothing for two weeks and I ended up working with another lender. After about a month the first lender responded with great news that the loan had been approved. Too late, you lost my business.

In your business and personal life, think about how your business or personal relationships can change if you respond quickly. I can guarantee your business will improve by simply responding in a timely manner.

Below are some ideas of how to improve your response time.

• If you are busy- make a to-do list to check off your tasks.

• Even if you don’t have an answer respond, acknowledging that you received the correspondence and you will reply shortly. You can always say- “I’m working on it.”

• Meet the timeframe you provide. If you say you’ll respond in 2 days. Do it!- the person is relying on that response.

• Don’t make unrealistic promises. For those of us that are married know this one well-If you tell your spouse you’ll be home in 5 minutes and you get home in 10 minutes, you’re in trouble.

• Be polite- respect other peoples time and don’t be too pushy.