The Entrepreneurial Promise Cycle
In the business world, entrepreneurs base their businesses on the promise.
You promise that your business will solve the problems and satisfy the needs of the potential customers, and if they believe you, they will buy from you. But, if you deliver your promise, automatically you are a more credible and trustworthy person that deserves their trust.
However, if you fail to deliver your promises, your credibility and trustworthiness will be zero, and that’s the end of your relationships with those customers.
It would be best if you delivered everything that you promised. Delivering or over-delivering what you promised automatically builds credibility for you as an entrepreneur and your company as a whole.
Think about situations when you buy something because of the promise on the advertising materials about that something. After trying your new toy, you conclude that the promises about your problems are not delivered. How do you feel in such a situation? Would you buy something in the future from the same company? Even they made another, better promise, you will not believe them. They are losing you forever.
Think about it the opposite way. What do you think about businesses and entrepreneurs that deliver you what they promise you? Would you buy something in the future again from them?
The Promise Cycle
Because the promises are frequently used by the entrepreneurs on one side and have a huge potential to build or destroy the company, I call this the promise cycle.
You promise something, and deliver on that promise. Your credibility is better than before.
You promise another thing, and deliver on that promise. Again, your credibility will increase.
Again, you promise, and you deliver on the promise, and your credibility has increased.
And these continue, again, again…
That’s the cycle that never ends until your business is in life. But, on the other hand, each delivering on the promise and increasing the credibility and trustworthiness means increasing your business potential energy. If you have more business potential energy, you will have more wealth for your business.
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