The importance of respect in business cannot be understated. Any business person who wants to stay in business has to respect their staff, customers, partner (if they have one) and their suppliers. Without respecting all the people and their needs that are associated in some way with their business, puts a business on a slippery-slope towards failing. The last thing any business wants is to undermine their own financial foundation.
To succeed and grow, if a business person exceeds the expectations of all those that they come in contact with every day will lead to good word of mouth (WOM) advertising that simply can't be bought.
As weird as this may sound, there are a lot of business owners and managers out there in the commercial world, who tend to treat staff and employees, as their own personal fiefdom. They order staff around in such a disrespectful way that the days of serfdom don't seem to have disappeared years ago. They seem to think that just because they pay their wages that this entitles them to treat people as disrespectfully as they wish. Then these 'bosses' wonder why they can't get staff!
The old saying of "You get what you pay for" also applies to people. If you aren't prepared to treat people respectfully by paying a 'fair day's pay for a fair day's work' then you will get what you don't want and you shouldn't expect more.
Respect your Customers:
The old adage of "The customer is always right" doesn't make the myth truthful. Many times, the customer isn't right but it is right to respect their dissatisfaction with your product or service. If you handle these complaints with respect, the customer will always come back because you have shown integrity and respect for them to say that they weren't happy with something in your business. This is one way to respect your customers.
Many small business owners today have to teach their staff some basic etiquette. As unbelievable as it is, too many people today don't have any basic manners. Lack of good manners is very disrespectful to everyone who has the misfortune to come into contact with them. People with bad manners should never be employed in a customer service job.
Respect Your Business partner:
Many small businesses today are a family enterprise of a Husband and Wife. The staff will treat each 'boss' as the other partner treats them So, even if you have had the worst disagreement ever before leaving home for work, don't take this attitude into the workplace. Respect your partner by showing them courtesy at all times.
If you have a financial partnership with a non-family member, then treat your silent or non-silent partner as you yourself would like to be treated.
Respect your Suppliers:
Just because you are a paying customer, doesn't give you the right to be rude to those that supply your business with goods or services. There is a world of difference between being rude and being determined. If you require something in a timely manner, being rude and disrespectful isn't going to achieve the desired outcome.
Another way of respecting your suppliers is to be sure that you pay them on time. This may not always be possible so if you are experiencing a cash shortfall (as often can happen in a small business) contact them before the due date of the bill and let them know that you are on top of the problem. They will respect you for this and you shouldn't have a shortfall of supply providing that you keep to any agreements made.
The last thing you want in your business is no goods to sell or unable to perform or complete a service because you can't get other needed businesses to do their part. Not only will you lose your customer but you will have lost a supplier.
The importance of respect for others is prevalent in all your business dealings with everyone that you come into contact with on a daily basis. Respect to others is shown by courtesy; and it isn't hard to live a courteous life and in the case of running a business, it will prove profitable too.