The Most Important Lesson I Learned in Business School
When I was in business school we studied a lot of things. We studied price elasticity of demand, capital markets, marketing, managing employees, strategy, and financial statements. We even had a class on how to be a CEO.
The most important lesson I learned in business school was taught by Dr. Lynda Aiman-Smith. She told us,
“All business is built on personal relationships.”
That’s so important that I’m going to repeat it again.
“All business is built on personal relationships.”
You see there are a number of phases that people go through when they are learning about your business.
First they have to learn about your business. They have to see it. Shake the tree. They have to see what you are all about
Next they move on to getting to like your business and your brand.
Finally they will trust your brand.
Until your customers trust your brand, trust you, and what your company is all about, you will always be a commodity.
I’ve worked with a lot of companies. The ones that I trust, I know that they are going to do me right. They are going to charge me a fair price. I’m going to get a lot more value from what they give me than what I am paying for.
