You’ve probably heard the old saying that Cash Is King…right? What if it’s not?
As business owners and leaders, the odds can feel like they’re stacked against us. With more than 90% of new businesses not making it through the first five years, and their demise often attributed to inadequate funding (wrong, but that’s for another day) it’s easy to understand why so many businesses chase the money. But there’s another currency you should be chasing instead.
Harold Geneen once said, “In business, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.”
Chasing the cash turns every customer interaction into a transaction. The truth is, this is very transparent to the customer, and many times they are fine with that. But there it also prevents the development of a relationship and any semblance of customer loyalty.
Now, I’m not saying you should do the work for free, but do consider what you are gaining from every interaction. There is something you can learn…and that might be worth much more than cash!