Business & Finance Corporations

3 Ways Entrepreneurs Can Give a Baker"s Dozen

The baker's dozen referred to the medieval practice of providing 13 loaves of bread, instead of just 12.
The thirteenth loaf was the profit earned by the middle man.
Considering the number of businesses there are, the number of middle men, and women, proportionately must be less.
So, how can entrepreneurs give a baker's dozen in business today? In modern terms, a baker's dozen simply means giving more than what is expected; and this has been a common theme in customer service for many years.
But, this same concept can be applied to employees and suppliers.
Here are three suggestions; one for each group.
1.
Employees There are so many different ways to do this, that it's difficult to choose just one.
But, let's think about pay, a topic that's near and dear to anyone at work.
Most people expect to get a cost-of-living increase each year; but when inflation is almost non-existent, then these increases, if they are given at all, aren't noticed at all.
What a nice surprise it would be if the firm gave them an on-the-spot, unannounced bonus for a job well-done.
2.
Suppliers Suppliers, especially the smaller ones, are often expected to carry unpaid balances for 60, 90 or more days.
This is due in part to the fact that they want the business so badly that they're afraid to withdraw their services for late payment.
How do you think they'd feel if your company decided to pay them, not only within 30 days, but also at the beginning of the billing period? 3.
Customers There are probably few places where something is not done than in the name of customer service.
Everyone says it's their primary concern, but far too many act as if it didn't matter a jot.
For example, the customer service line is always busy or no one answers the phone when it does ring.
Or, products are delivered late, damaged, or not at all.
Promised refunds don't materialize, or discounted items mysteriously vanish before the customer can take advantage of them.
I have a colleague whose internet service provider had the cheek to suggest that he look for assistance on their web site when the problem he had was no internet service.
Whether it's the failure to appreciate the people who do the work, those who supply the wherewithal to create products, or the customers whose loyalty keeps the firm going, they all deserve more than they're getting?

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