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Brandirect Home > Our Voice > Archived Articles > Golden Rule - 2003-08-06

Golden Rule - 2003-08-06

"Do for others as you would like them to do for you."

- Luke 6:31, Holy Bible, New Living Translation

It may sound crazy, but there are some very successful companies who make money by putting the needs of their customer and employees before their own desire for profits. Among these companies are firms like Enterprise Rent-A-Car, Southwest Airlines, MBNA, the New York Times, State Farm Insurance, Dell Computer and eBay. Every one of these organizations makes the Golden Rule, treating others as you'd want them to treat you, the first and most important rule of business. Instead of focusing on its own bottom line, it focuses instead on building mutually beneficial partnerships with its employees and customers. And it has lead to some impressive results.

Did you know, for example, that Enterprise Rent-A-Car credits this partnership strategy for its remarkable success? While the "big two" car rental companies were struggling for growth through the 1990s, Enterprise was growing at 20% per year and has surpassed the others. Today Enterprise has over $5 billion in revenue and perhaps the highest profitability in the industry. Yet Enterprise charges less than its competitors and it pays its employees higher wages and bonuses than anyone in the industry1.

1 The Loyalty Effect, by Frederick Reichheld 1996 Bain & Co., Inc. (Harvard Business School Press).