Business owners use certain core values as the foundation of their companies. These principles are usually what they aim to achieve or the things that they advocate for. This being said, there are people who put monetary gain as the linchpin of their businesses. Frankly, there is nothing wrong about it. But an enterprise that prioritizes revenue results to unhappy and unsatisfied people, may it be your customers or your employees.
Recently, a new wave of entrepreneurs has been using happiness as their business model. Under such strategy, people and their happiness are the first concerns of the business. However, it is astonishing to see that companies that adapt such model are turning to be more profitable. By putting more value on the happiness of their workforce and customers, businesses have engendered a dynamic market activity and a beaming balance sheet.
How Happiness Affects Your Business
Business owners should always remember that happy employees translates to good business. The company’s workforce is one of the biggest factors why businesses stay afloat. For one, they are the brains in your company. Your employees are the ones who propose innovative ideas in making your business better. Moreover, they are also your number one fans and brand spokespersons. If your workforce is unhappy, they are less involved and efficient.
Happy customers are also equivalent to hefty profits. If your customers are satisfied with your product and service, expect that they will become loyal customers. It is a good thing for business since “loyal customers are worth up to 10 times as much as their purchase”, as per the White House Office of Consumer Affairs. Your customers only deserve the best. If it comes to your attention that they are disappointed in your business, reach out to them and make things right.
There are various elements that impact your business. Happiness is among the most important. Your job as a business owner is to devote your resources in ensuring that everyone in the company and your customers are happy. In doing so, make happiness as your company’s number one priority. Moreover, always be proactive. Look into the things that will make your people happy.