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The People Factor in Business Success

•A clear understanding of why customers like you makes it easy to craft strategy to enhance those qualities. •Business is a people’s game and profit accrues because a significant number of people pay attention

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by FRANCIS OPENDA

Business10 November 2023 - 01:00
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In Summary


  • •A clear understanding of why customers like you makes it easy to craft strategy to enhance those qualities.
  • •Business is a people’s game and profit accrues because a significant number of people pay attention

Now, it is challenging to envision the world of business without technology. From finance to operations, marketing, and value chain management, technology plays an indispensable role in shaping the modern enterprise. However, amidst the technology whirlwind, it is easy to lose sight of the human factor. While technology is vital, people hold a more important position in the grand scheme of business.

People are at the heart of every business endeavour. On this note, it is crucial to reflect on your approach to human interactions within your business dealings. How do you treat people? Do you have a well-defined strategy for cultivating robust business relationships? It is worth noting that people prefer to engage in business with those they know, like, and trust. Therefore, it is prudent to formulate a strategy that caters to these three fundamental concepts.

Know: Reputation is significant in business. Therefore, it is imperative to send clear reputation signals in your field or area of business. What are you known for? How do you facilitate connections between people and your image? Marketing experts attest that people tend to be wary of unfamiliar brands or entities, and often, hesitant to engage. Hence, it’s invaluable to devise strategies that instill confidence in people, paving the way for meaningful connections and engagements.

Like: In our minds, our preferences often become our default settings. Once we develop a fondness for something, our minds gravitate towards it, usually without thinking. It is one reason why we find ourselves frequently returning to our best friend’s home or favourite pizza place. Similarly, when people develop a liking for you, you become their default choice. In business, a clear understanding of why customers like you makes it easy to craft strategy to enhance those qualities.

Trust: In my view, trust can easily be built and destroyed. Trust is hinged on one simple concept: consistent delivery; it boils down to making a promise and delivering like clockwork. When this behaviour is in place, trust grows naturally. Asking people to trust you is a waste of time – deliver consistently and that is it.

What can people reliably expect from your brand? What consistent behaviour have you demonstrated? What brand promises have you made and kept? When people trust your delivery, they are likely to buy from you. Ultimately, business is a people’s game. Profit accrues because a significant number of people pay attention. How much do people know, like and trust you? If enough, then you are in business.

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