Why Good Business Conduct is Crucial
Posted by Jesse Willms on September 21, 2010
For many Internet business owners, the idea of always being 100 percent ethical seems like a lot of hard work. It’s easier in the short term to just cut corners and make a quick buck. But, that’s shortsighted thinking that will hurt your business – and the industry as a whole. The effort you put into having a clear set of ethical guidelines is an investment in your company’s future that will pay off in big ways.
When you conduct business unethically, you put your company at risk of paying heavy fines down the line. Traditional companies have been hit with fines by the government that have nearly bankrupted them. Eventually, the government will target our industry and we’ll face the same fate if we don’t behave ethically.
You also have to consider the costs to your long-term profits. Short-term profits are nice, especially when you see how much money can be made – but it won’t sustain your business. To become as profitable as possible, you need to depend on repeat business. Ethical behavior encourages repeat business. Unethical behavior in business does not.
We also have to worry about encroaching government regulation. While Internet marketing is not particularly regulated at the moment, that could change at any time. Each and every time a consumer complains to the government about the unethical practices of online marketing companies, it makes it more likely that the government will start to enact sweeping regulations that will make it very hard for us to do business.
Do you really want to have to deal with the expense and hassle of filling out tons of compliance forms when you could be concentrating on running your business? These are just a few of the reasons why we have to come together and implement rock solid ethical guidelines: It’s good for long-term profits, helps create repeat business and will keep the government off of our backs.
So, lets keep doing business ethically and honestly. It’s the right thing to do – for many reasons.