Posted on October 4, 2011 by Dave Crenshaw
Would you like more sales? More referrals? Better reviews from customers? More loyal employees? A happier, more productive workplace? Of course you would. As a business owner or executive, you're always looking for the best way to improve your business and its bottom line.Yet, are you making full use of the two most powerful words in the world? In this brief video I discuss the power of Thank You, three areas where these two important words are often overlooked, and what to do about it. Action Steps:
  1. Watch this video and ask yourself: "On a scale of 0-10, how well is my company doing with saying thank you?"
  2. Appreciate your employees by expressing gratitude verbally, through email, or with an occasional card.
  3. Evaluate if you have expressed gratitude for all the referrals you received for the last six months.
  4. In an upcoming company meeting, take a few moments to have a group discussion about ways you can genuinely express gratitude more often.
  5. Share your perspective or ask questions on this page.
Principles:
  1. A simple thank you costs you little but yields a massive return on investment.
  2. Three areas in which the "thank you" is often overlooked in business are:
    • Employees
    • Referrals
    • Customers
  3. A simple expression of gratitude can go a very long way in helping your employees feel respected and keeping their spirits lifted.
  4. Sincerely thanking customers for their business increases customer loyalty.
 
This post was sponsored by the Dave Crenshaw’s Invaluable CEO Coaching program. Would you like to work one-on-one with Dave to develop a strategy for your business? Click here to learn how to apply: http://DaveCrenshaw.com/CEO (For business owners and CEOs only) Receive coaching from Dave Crenshaw
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  • 1106Design

    Great advice, Dave. It’s oh-so-easy for a manager to take employees’ work for granted and lose sight of what they quietly accomplish day after day. I recently filled in for my project manager for a week. It was a wonderful educational opportunity that highlighted the need for better processes.

    Michele DeFilippo
    1106Design.com
    Book design and self-publishing advice. With hand-holding.

    • http://www.DaveCrenshaw.com Dave Crenshaw

      So true. Nothing makes you appreciate what you have as much as not having it anymore! This is part of the reason why I sometimes recommend that my business owner clients spend at least a brief amount of time “in the trenches” (if they haven’t already) so that they can understand and appreciate what the business systems should look like and what traits and skills are required by an employee to be truly successful in that position. Thank you,  Michele.

  • fauna smith

    I wonder about the gratitude showed when a business hands their customers over to an outside collection agency.  I have felt that this says “I don’t care if you have hit hard times, I am willing to pay an extreme amount to a collector in order to tell you that you are a deadbeat.  I also want you to know that I value your business so little that I am willing to give the collector my potential profits from your business once this hard time has passed for you.  I don’t want you back, no matter what your situation.”
    As a person wanting to pay my bills but often not able to as quickly as is convenient for everyone (due to a disability and low income).  I feel this quite often, and, so, I usually try to pay my original creditor first so that they can shovel out the money from their cash box and see how great the collection agency really is.  Do you know that one time I had paid a 300 dollar medical bill.  They had already assigned it to an outside collection agency.  Out of the 300 dollars they received 6 dollars.  After this the collection agents were insulted to receive payment from the original customer (you – the business who hired them) and so they forwarded it to an attorney who then wanted to collect an additional 1000 dollars.  Tell me truthfully, do you think that 6 dollars was worth losing a loyal customer?

    • http://www.DaveCrenshaw.com Dave Crenshaw

      Wow, fauna. Thank you for being candid with your experiences. These kinds of poor customer episodes often come from companies that neglect to instill a culture of gratitude and customer loyalty in their employees and systems.  Collections are a necessary component of nearly every business, but they can do it in a way that maintains customer loyalty and shows reason and compassion.

  • Dustin Smith

    Thanks, Dave!

    • http://www.DaveCrenshaw.com Dave Crenshaw

      You’re welcome Dustin. Thank you, too, for being a long-time supporter.

  • Bernice Symes

    Great video Dave! Those two little words are more important than we think. Those two little words really lift my spirits and morale when I hear them!  I feel appreciated….. “Thank you.”  (smile)

    • http://www.DaveCrenshaw.com Dave Crenshaw

      It’s amazing what a little gratitude can do. Thanks for taking a moment to comment, Bernice.

  • Bernice Symes

    Awesome information Dave. I shared it with my Facebook Family!

  • Bernice Symes

    Dave I enjoy listening to your mini teaching videos!  You really simplify simple things. “Thank You!”  How simple is that?   I am a walking talking testimony to the power of those two words. There is a local business that utilizes my services on call. I must say the morale of the employees is off the charts!  The staff actually laughs, jokes and sings, I repeat, singing while they are working!!!  Unheard of right!!!  It’s true!  I witness it myself each and every time I am there!

    Including me, we hug each other, exchange phone numbers, have conversations, we are concerned if anyone is out, we want to know why or what happened?  And we eat, oh yeah, they feed us!!!!  I’ve gained weight from working there!!! No one is goofing off, taking advantage of company time, and we show up when assigned!  What’s wrong with this picture?

    I tried to observe and figure out the “why” for this strange, odd and weird behavior? What planet are these people from?  Is this the Twilight Zone or what?  Have I been abducted  & taken by the aliens? What’s up with these people? Having fun at WORK is an oxymoron isn’t it? Or is it?

    One day I had an “ah ha” moment! It was right there in my face all along!  I often, I repeat, often heard the two tiny little words: THANK YOU, GOOD JOB, WELL DONE!  (well six important words!)  This business has two annual employee appreciation days!  This company posts public recognition award notices, rewards! “Employee of the Month Plaques! There is a suggestion box!  The communication is clear  between management and the staff and everyone understands what their duties are……..the doors are always open (open door policy). The only time I see the doors closed is when the work day is over!

    THE POWER OF ‘”THANK YOU”  – two powerful words that have a major impact on your staff!

    • http://www.DaveCrenshaw.com Dave Crenshaw

      I love this real life example of the power of Thank You in action, Bernice. Somewhere along the line companies began believing they could bribe or coerce their employees into being happy and engaged in their job. Yet, as you illustrated, the simplest principles put into action have the greatest effect. Thank you!

  • Anatoly Natey-Golenko

    I like this simple and powerful advice

    • http://www.DaveCrenshaw.com Dave Crenshaw

      Thanks for the comment, Anatoly.