Doing business isn’t only about money. It’s about respect.

Doing business isn’t only about money. It’s about respect.

Being a VP and saying that money is not the most important outcome in doing business may get my shareholders anxious but let me elaborate on it.

As Simon Sinek said in his TED talk, "money is not your goal, it's a result, it's always a result," and I agree with it completely. I think money is an outcome of respect towards several groups of people.

Be respectful towards your Clients. It doesn't matter in what industry you operate in – every business should be Client-centric. You should define who exactly your Client is, what are his needs you can fulfill, and then do your job to the best of your abilities. Treat your Client the way you would like to be treated yourself. Regularly review your Client's satisfaction and react immediately whenever even one of them is not happy with your product or service. Nowadays, even one Client and his bad review can have a massive impact on your business. Clients are the ones who pay your bills, so the result of this respect is your company's growth.

Be respectful towards your Colleagues. Company should be a place where you can give the best out of your experience and ideas. As the movement of turquoise companies is growing, our primary job as managers is to create space for our people to thrive. But growth and creativity that may impact our business in the best positive way require peace and safety. Neither of them can exist without managers respecting their teams, team members respecting others. The actions of even one who doesn't follow this rule can ruin a workplace culture that has been carefully created. Therefore, the effect of this kind of respect is a great atmosphere, innovation, and positive employer branding.

Be respectful towards your Shareholders (bosses, company owners, chairmen, etc.)These are the people who have invested in you. Directly or indirectly, they decided to put a bet on you and gamble with their money and as well as the stability of both employees and the business partners. You respect them, not only by following your contract to the word but even exceeding it.

As I have talked with shareholders of several companies, including PE, almost all of them pointed at the same thing, "our trust is a direct result of transparent communication." 

You will be able to fulfill all of your amazing goals, as long as you can explain effectively the journey ahead to the owners of your boat and the crew. Then, as a result, guarantees you and your crew’s safety (as well as bonuses :) ) 

Whenever if I'm not sure how should I act, I act with respect and humility. So far, it has worked well. Remember Pride goes before a fall.