Good business practices like transparency and corporate responsibility can be leveraged to build valuable relationships. But throwing around these buzzwords will only get you so far.
If you really want to see results, what you may want to consider is a practice of karma: the idea that helping others become successful—suppliers, customers, even competitors—is the real key to your success in life as well as in business. It may seem to go against everything you’ve learned about business, such as that it’s necessary to be cutthroat, take out your competitors and get as much as you can while giving as little as possible. The times are changing.
Now, smart business owners know that the key to long-lasting success is turning competitors into collaborators and giving as much as you can to create win/win situations always.
It’s one of the things we are best at, helping you identify the win/win, even when you can’t see it. And, also helping you see where you may be engaging in win/lose tactics without even knowing it because it can be so deeply conditioned.
If you’d like to begin to gather your own evidence for a practice of Karmic business, read the books The Diamond Cutter and Karmic Business, both by Geshe Michael Roach.
Don’t be afraid to take your eyes off the bottom line and focus on how your company can be a force for good, even by helping your competitors. Building a culture that develops healthy karma can be as simple as providing over and above outstanding customer service, taking the time to make your vendor’s lives easier by paying more quickly than required, or even sending referrals to a competitor without an expectation of any return.
Building karma is an important investment of time and energy, and it does pay off. Too many business owners neglect their business relationships and miss out on countless rewards. Operations and growth are always top priorities for entrepreneurs, but make sure your company culture focuses on building strong relationships, too.
If you want to free up your time and energy to work on your business relationships, begin by sitting down with a Creative Business Lawyer®. A Creative Business Lawyer®, can help you structure your business, so you can focus on growth, potential and all the reasons why you love doing business and show you the opportunities for karmic business that you may be overlooking.