They say you can’t, or shouldn’t, run a business on love but what if that’s a myth? Some companies are experimenting with the results of setting respect and appreciation as cornerstones of their enterprise and it turns out to be a foolproof strategy.
In his book Love is Just Damn Good Business, Steve Farber explores how to measure love as an investment and what’s the actual return. What might seem like a relative or subjective commodity can actually be gauged by increased revenue, better productivity, employee retention, and customer loyalty.
Work for your team and they work for you. When employees feel appreciated they go above and beyond to help your company succeed. The staff becomes enthusiastic to work together, helping each other grow. More creativity and innovation goes into production and more passion goes into sales. When the gains for the company flow down to reward the workers, they’re motivated to work even harder towards greater achievements for themselves and the whole.
When customers sense this love for the product, and trust in the company, it becomes contagious. Clients become excited to support you and send referrals. With the gratitude you show in return you’ll begin to develop solid relationships with your following over time. If you know their preferences, can anticipate their needs before they do, and are honest with your input, your base will become unbreakably loyal. It will be nearly impossible for another company to compete against you.
The cumulative effect of these almost intangible qualities is a collective of emotional investments in your venture, in addition to strong monetary backing. Employees are willing to put “sweat equity” into enduring success and customers know the product they buy is worth more than its parts. This encourages immediate revenue and lends ultimate confidence in growth for the future.
So, what may come as a cultural or political shift for some, the path of positivity is the path of least resistance for most others. Overall, for the long and short-term strategies, love always wins.
