Business Ownership and the Learning Process
KTM Solutions has been operating as a small business for almost 17 years. That time has offered a lot of opportunities to learn and grow. Recently, Paul Kumler, one of KTM’s founders, published some reflections on what he’s learned about the responsibilities of employers and business owners.
Business owners have a responsibility to two groups in particular:
To Your Customers
Without customers, you have no work and no job security for your employees. Your customers of course need to find value in the product or service you provide for the price they’re paying. But this doesn’t mean that “the customer is always right.” As Paul puts it, “The customer isn’t always right, but they are always the customer.” Even though a customer might need to be educated about what a service entails or how they can get the most value out of their purchase, they always deserve respect and professionalism.
It’s also worth noting that a repeat customer is of tremendous value to a company. Not only does a returning customer indicate that you’re providing a good service (something worth coming back for), it also saves on the high costs associated with bringing in new business. Paul’s advice? “Strive to make every customer a repeat customer.”
To Your Employees
On the flipside, without your employees, your business doesn’t exist. Part of a business owner’s responsibility is to help keep sales up so that employees have sufficient work to do. Paul notes that “as a leader, your primary responsibility is to pave the way for success.”
Are your employees compensated fairly for the work they perform? Do they know that they have the resources they need to do their job well? Further, do they have room to grow—and learn from mistakes along the way? All of these criteria are essential for retaining strong, happy employees and maintaining a positive work environment.
Owners and managers set the tone for a company. What better tone to set than one of respect, trust, and genuine care?
At KTM, we’re thankful for our 16-going-on-17 years of learning and growing as a company, with each other and with you. As always, let us know how we can help you!