How Important is Trust? – Very

“How important is trust in establishing long-term business relationship?” – Dr. North

But have renounced the hidden things of dishonesty, not walking in craftiness, nor handling the word of God deceitfully; but by manifestation of the truth commending ourselves to every man’s conscience in the sight of God. – 2 Corinthians 4:2

Trust is important in any relationship in life. Establishing trustworthiness and honesty is honoring God. Certainly, in the business world to be successful clients/customers rely on your honesty with them in a relationship. Treat others the way you want to be treated.

Integrity is essential to building a strong foundation and reputation. This means you will have an abundance of reoccurring loyal customers. It is known that word of mouth is the best kind of advertising. You know who you would want to do business with, so be that person.

Building trust begins simply with the way you greet the customer. Energetic positive vibes will create the stepping stone needed to begin that long term relationship. After that, continuing to establish yourself as trustworthy requires many other things. Punctuality can prove to a customer their importance to you. Sincerity will also be key in letting your customer know you truly care. Be sure to nurture the relationship by staying in touch with your customer. Always take responsibility when something goes wrong. Apologize and assure your customer you will do whatever is necessary to correct the error. These are just a few things to help a customer to feel like they can trust you.

Trust is synonymous with your reputation and it begins with the very first customer. Maintaining a certain product or service will reassure them that they know what they are getting every time. This gives them confidence in you.

Again, I can not stress enough the importance of knowing your expectations as a customer because this will translate when you are on the opposite side providing the service. I have written my paper as the provider of the service but these are also the qualities I would need to see if I were the customer paying for a service/product.

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In the words of Bob Marley integrity builds the greatness of who we are in all aspects of our lives. The fact that this will make us successful in business is a nice reward.

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What Tariffs Actually Do

“Does a tariff on imports also reduce exports?” – Dr. North

Tariffs are taxes that the government instituted to be paid on imports to “protect” us from foreign competition. They restrain us from purchasing imported goods/services that we want. It makes goods/services more expensive for the consumer.

tariffs

Pro-tect-tion-ism

noun

The theory or practice of shielding a country’s domestic industries from foreign competition by taxing imports. 

Protectionism is a misnomer. The only people protected by tariffs, quotas and trade restrictions are those engaged in uneconomic and wasteful activity. Free trade is the only philosophy compatible with international peace and prosperity. – Walter Block

Tariffs will definitely reduce exports. People in foreign countries paying these tariffs will not have as much money to buy our exported goods. In turn you will not have as much money to buy their goods. When this happens no one is getting what they want but the government.

It is also important to note here that tariffs will cause a decrease in competition thereby causing a decrease in quality of product. When there are less people to sell to it only makes sense that product standards will go down because companies feel less threatened. When the product is less available and we do not have many options we will pay a higher price for a poorly made item.