Discover more from Thai Newsletters
The Ignored Element That Costs Your Business Financially
Business is an act of engaging in commerce, and when you do business, you're interacting with human beings.
Your customers, staff, managers, leaders, and clients are all human beings.
When dealing with humans, many variables come into play, with incentives being the most crucial.
Understanding people's incentives and learning to work with them open the way for successful business transactions.
For instance, when a customer visits your gym, their incentives might include getting healthier, fitter, or improving their appearance, among others.
Your package offer must cater to the incentives of your customer.
By tailoring your monthly subscription to meet their needs, you motivate their desire to work with you, generating sales and profit in return.
In another example, when someone interviews to work with you and your business, their incentives could be earning money, growing their career, or gaining leadership experience, to name a few.
To find people who work well with you, it's essential to understand their incentives and create a supportive environment that keeps them motivated while aligning with the company's goals.
If you can wrap your head around incentives, you can unlock the door to more successful business transactions.