By Reynor Buenaflor
Trust is the basis and the foundation of whether it is in a relationship or in business. We normally want to make business transactions with people we trust. If all else equal, we want to buy from people whose wants to take care of our best interests.
The little things that you do can either build or destroy your business credibility. Here are the deadly sins against business ethics that can destroy your reputation.
Avoid them like rattle snakes. They can harm you.
1) Discrimination
It comes in different forms and faces: gender discrimination, age discrimination and racial discrimination.
2) Hype
Marketing your product as a super miracle item that promises 1001 good things to your customer is rampant. It is sickening. Don't join in the bandwagon. You might have heard about products that claim to give you the sun and the moon. Hype might fool people once. But no one ever buy trash twice.
3) Spamming
Spamming is sending electronic mail or snail mail to people who have never expressed any consent to receive from you. You might have heard of Bill Gates giving away some money if you forward an email to 7 of your best friends. Or you might have received an email of Joe Millionaire who have received a huge amount of inheritance and who wants to give share it with you before his brothers and sisters know about it.
What a waste on bandwidth and time! Spammers are time wasters. Not a good way to make a living.
4) Price War
In the bricks-and-mortar business, when price war sets in, the end of your business could be near. Competitor A with a huge cash flow and several outlets on different places decided to "kill" competitor Z out of business. Competitor A sells his product at a very insanely low price. Just long enough to steal the customers from Competitor Z and putting Competitor Z out of business.
5) Defective products
Poor quality products are sure ticket to business failure. The marketplace is like a mega super mall rack that never runs out of choices. Quality means survival. Poor quality will not survive in a very competitive market.
6) Bribery and Illegal Transactions
Is the food coming from illegal transactions taste good?
At the end of the day, the happy man is someone who can face the man in the mirror and say with all honesty that he did what is right and fair. The first respect that you need to earn is self-respect. Long term integrity comes back a hundredfold - in this world and in the life after life.
7) Copycats
Copyright violation is costly. It can lead you to an expensive court settlement. It could also ruin your reputation. If you want to use someone else's work like articles or pictures, learn to ask permission. Respect the intellectual property rights of the owner. And give the credit to whomever it is due.
The little things that you do can either build or destroy your business credibility. Here are the deadly sins against business ethics that can destroy your reputation.
Avoid them like rattle snakes. They can harm you.
1) Discrimination
It comes in different forms and faces: gender discrimination, age discrimination and racial discrimination.
2) Hype
Marketing your product as a super miracle item that promises 1001 good things to your customer is rampant. It is sickening. Don't join in the bandwagon. You might have heard about products that claim to give you the sun and the moon. Hype might fool people once. But no one ever buy trash twice.
3) Spamming
Spamming is sending electronic mail or snail mail to people who have never expressed any consent to receive from you. You might have heard of Bill Gates giving away some money if you forward an email to 7 of your best friends. Or you might have received an email of Joe Millionaire who have received a huge amount of inheritance and who wants to give share it with you before his brothers and sisters know about it.
What a waste on bandwidth and time! Spammers are time wasters. Not a good way to make a living.
4) Price War
In the bricks-and-mortar business, when price war sets in, the end of your business could be near. Competitor A with a huge cash flow and several outlets on different places decided to "kill" competitor Z out of business. Competitor A sells his product at a very insanely low price. Just long enough to steal the customers from Competitor Z and putting Competitor Z out of business.
5) Defective products
Poor quality products are sure ticket to business failure. The marketplace is like a mega super mall rack that never runs out of choices. Quality means survival. Poor quality will not survive in a very competitive market.
6) Bribery and Illegal Transactions
Is the food coming from illegal transactions taste good?
At the end of the day, the happy man is someone who can face the man in the mirror and say with all honesty that he did what is right and fair. The first respect that you need to earn is self-respect. Long term integrity comes back a hundredfold - in this world and in the life after life.
7) Copycats
Copyright violation is costly. It can lead you to an expensive court settlement. It could also ruin your reputation. If you want to use someone else's work like articles or pictures, learn to ask permission. Respect the intellectual property rights of the owner. And give the credit to whomever it is due.
Reynor Buenaflor is an engineer, an entrepreneur, business mentor and a writer.
His passion for business draws back in his formative years under the guidance of his entrepreneur parents. For the past 10 years, He has successfully launched several start-up businesses.
He enjoys spending his free time with his family.
His passion for business draws back in his formative years under the guidance of his entrepreneur parents. For the past 10 years, He has successfully launched several start-up businesses.
He enjoys spending his free time with his family.
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