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Business & Leadership

Golden Rule Business

3 Minute Read

What's the secret of success? Philosophers, business tycoons and academics have argued this question since the first caveman wore a better bearskin than his neighbor. But for Dave and well-known businesspeople like Richard Branson, J.C. Penney, Mary Kay Ash and Southwest Airlines' Colleen Barrett and Herb Kelleher, it simply boils down to 10 little words written nearly 2,000 years ago: "Do to others as you have them do to you."

These EntreLeaders believe that when you follow the Golden Rule, the rest will take care of itself, including their businesses. And it works for any organization, from a small enterprise to a Fortune 500 company. So how can you apply this timeless principle to your own company? Here are four practical ways to get started on your road to building a business you can be proud of.

Extend Grace

If there's one word in the dictionary that should be on the to-do list of every employer, it's grace. Why? Because no one—including you—is perfect. At some point, everyone will mess up or have some personal problems to work through. Unless it could jeopardize your company or possibly harm someone, always err on the side of giving too much grace.

Avoid Micromanagement

Watching every step your team member takes or not trusting them to do a job has tons of negative consequences, including stifling creativity, reducing problem solving skills, and impeding growth and communication.

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There is an exception to this rule though. You can't micromanage enough when someone first comes on board. But once they're trained, step back and let them fly.

Let Money Talk

Money may not be the prime motivator, but it sure is a great way to make someone feel like they are valued. On Dave's team, for example, a staff member helped close a huge sale, even though it wasn't part of his job. Dave paid that team member the commission even though he really wasn't obligated to do so. Why? It was the right thing to do, and it inspired that team member to do it again.

Treat Them With Dignity

At Dave's office, there is not a time clock to be found. He believes there is no dignity in just punching a clock to collect a check. Make it clear your team's work is important to you and your company. Team members play an integral role in your success and deserve your respect.

Although the concept is simple, the Golden Rule is anything but. It changes lives and relationships, and it can even transform your business. Start practicing it today and watch the magic begin.

This article originally appeared in the EntreLeadership Advisor, Dave Ramsey's business and leadership newsletter. Sign up now to get it delivered straight to your inbox twice a month.