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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Thanksgiving Inspired Business Lessons

Written By: Carol Roth | Comments Off on Thanksgiving Inspired Business Lessons

Thanksgiving and the holiday season are just around the corner. And, because inherent in the word Thanksgiving is thanks, this is the perfect time of year to give thanks for your blessings and reflect on your life. While this is true for your personal life, it is also true for your business, too. So, here are a few Thanksgiving inspired lessons that you can apply to your business:

Express your gratitude.

A common Thanksgiving tradition is when families go around the dinner table and each say for what they are most thankful. Turkey dinner notwithstanding, this sentiment is something that you should adopt in your business- for your staff, partners and customers alike.

People are much more inclined to express themselves when things go wrong, when there are issues/problems or when they are just plain unhappy. But, when was the last time you gave a pat on the back to an employee for doing their job well? Or, when was the last time you gave thanks to an important business vendor for always delivering what they promise? Or, when was the last time you thanked your customers for their business without trying to sell them anything at the same time?

Thanksgiving and the holiday season are a great time to share words of gratitude with everyone that has touched your business in a positive way. Personalized, hand-written notes are a nice touch (and don’t cost much money). Not only will you both feel good about it, but the goodwill that your heartfelt words create will go a long way to boosting your business success.

“Give” thanks.

While words are important, building upon the tip above and to quote a cliché, sometimes actions speak louder than words. That action can be through giving. Gifts and special offers can really show how thankful you are, especially to employees, who are sometimes forgotten when holiday gifts to important clients and partners take precedence over those who are working hard for you day after day. And, take it from someone who has a hard time resisting “free gifts with purchase”, nothing shows customers how thankful you are for their business like holiday gifts and offers.

And, Thanksgiving is a great time to give your holiday gifts, because aside from the obvious “thanks” sentiment, its timing is before the major holiday season, when almost everyone else does their gift giving. By giving Thanksgiving gifts instead, your gift will stand out by likely being the first one the recipient received and thus, make more of a lasting, memorable impact.

Don’t overindulge.

Many of us make the same Thanksgiving mistake year after year and eat way too much! This overindulgence causes severe pain, to the point that we need to loosen our belts and take a nap. Overindulgence can have the same effect on your business, too.

Entrepreneurs and business owners “overindulge” by overworking themselves. They often work long hours, fail to take time for themselves and don’t get the extra help that they need, especially for the aspects of running their business that they aren’t as good at or don’t enjoy as much. As a result of this overindulgence, they get burnt out and their business suffers as a result. Striking the right work/life balance is essential to avoiding that after-meal crash. It’s such an important Thanksgiving lesson that we all should learn, but many of us never do.

Apply these lessons to your business and get your piece of the pie this Thanksgiving!

Article written by
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a judge on the Mark Burnett (Shark Tank, The Voice, Survivor, The Apprentice) produced technology competition series, America's Greatest Makers, airing on TBS and Host of Microsoft's Office Small Business Academy show. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a contributor to CNBC, as well as a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011-2015) and has her own action figure. Twitter: @CarolJSRoth