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Lesson #5: Invest Your Best Capital in Your Customers
“Politeness and civility are the best capital ever invested in business,” said Barnum. “Large stores, gilt signs, flaming advertisements, will all prove unavailing if you or your employees treat your patrons abruptly.” In growing the most successful circus in the U.S., Barnum came to learn that it was not enough just to get the sale. Instead, what was important was making sure that customer would come back time and time again. Barnum was a master promoter, but he knew there was no advertising as valuable as word of mouth recommendations.

P.T. Barnum Quotes
P.T. Barnum Quotes
Adversity Builds Character (But I Prefer the View from the Top)
My greatest respect is for people who have experienced adversity and then come back. I was one of those people, in the early nineties. I went through a tough period and learned a lot about myself, and then came back bigger and better and stronger. It wasn't unlike what happened to Frank Sinatra in the early fifties. Like me, he lost focus. He took his eye off the ball and he made some bad decisions. (Also like me, it was the fairer sex that had a little something to do with his troubles, but that's another story for another time.)
FREE isnt what it used to be
Email, is indeed free but free isn't what it used to be! No Sir, in the past, getting something for free was exciting, like winning, even though you didn't have to compete for it. "You can have this for free", usually meant, I like you and want you to feel special.
Is the customer always right?
There is a power in being wrong, it demonstrates you're endowed with substance and character, certainly enough, to not indulge in the delusion of being perfect. Let's be honest, we all make mistakes, of course we do, some big and some small, but still all.
Frequent Buyer Programs
Reward your customers for coming back again and again.
How Copying Canadian Tire Can Help Grow Your Small Business Big Time
Canadian Tire CEO Stephen Wetmore is growing his “smart stores” Some store sales have grown between six and eight per cent, and some departments have more than doubled. You can grow your retail business by copying some of his proven ideas. Here’s how:
The Retailer and the Community
As the retail industry is booming, more and more people are coming in with one or the other range of products and services to earn more than what they are currently. Here are a few tips that may help you in establishing yourself as a brand in the competitive market.
The Atomic Power of Joint Ventures
Most entrepreneurs have been taught that you have three options with any prospect. However, in today’s world, we have to think in terms of viral marketing and multiple impacts. This is where Joint Ventures come in as pure gold.
Seven Ways that the “Main Street” Business Can Compete Against Much Larger Chains
This article explains the challenges that smaller businesses face in competing against the "big boys" and offers seven ways to succeed.
Entrepreneurship and the Global Economy
Entrepreneurs are the bedrock of the capitalist system, and their development has to be seen in the context of the development of societies that allow and even encourage private accumulation of capital for investment. Although traders are the foundation of a market economy, it is primarily the rise in broad-based manufacturing investment and the social division into owners and workers that distinguishes a pre-capitalist from a capitalist system.

Other patronage Related Articles

Is PR All About Image NO
Managers: a gentle reminder that your external audiences hold in their hands more than a hollow image of your business == through their patronage and support, they can impact the actual success of your enterprise.
Creating Time to Sell, Lead or Manage!
As a professional sales person, your time is your stock in trade. You trade your time and expertise for sales and increased patronage from your clients.

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