The Power of Gratitude in Business

“Thank you” are two powerful words that can uplift someone, build bridges and strengthen relationships. It is a significant aspect of life, even in business and in the workplace. 

Gratitude and appreciation are types of affirmation of something that is good, magnifying positivity and encouraging people to perform better. With this, entrepreneurs and business owners see the value of thanking their staff members, partners, and clients and putting effort into expressing it in various ways.

For Hayden Brass, Founder and Managing Director of Zea, “This is an aspect that we find so important, particularly for our staff and customers. With our staff, we are a fully remote team even before COVID, so it is vital for us to continue to connect with them and remind them they are part of a team with a great purpose.”

There are so many ways to show gratitude towards others. David Fastuca, CMO and Co-Founder of Locomote, shared his personal take on this. “I take a really simplistic approach to this and just think, how do I want to be thanked?”

David cited some examples. “I do a role reversal. If I'm a customer of someone else's, how do I want to be thanked? There are a couple of ways. I just try to be really genuine and thank them, where I send a little video message thanking them for working with us. I don't do any of the gifts or sorts of stuff because they probably get 100 different gifts. If I gift them, it's based on me really knowing them. They might love arts and crafts, so I may send them something that's relatable to that. Otherwise, I try and help them in their role. If I know that they're in sales I try and refer customers to them. If they're a founder of a business and we've done some work together or they're a customer of mine, I'll try and reciprocate and then recommend someone to them. If they're looking for a particular type of service, I really think about it and put myself in their shoes – what would I like and how would I like to be treated, and then I try and do more of that to my customers and try and help them succeed in their roles even if it's got nothing to do with what we provide,” he said.

Studies have shown that gratitude evokes a feeling of positivity, happiness and satisfaction. It also helps in improving health and decreasing stress levels. This is why gratitude, when expressed sincerely, can be a significant factor in strengthening relationships in business and in the workplace.

Hayden also shared how they extend gratitude to their team members, partners and customers. Within their organisation, “We conduct 1-2 retreats per year, try and have a team-building exercise of some kind at least once a quarter, and regularly celebrate birthdays and other occasions in their personal life. It’s to remind them that we are human and to show that we care about them in both their work and personal lives.”

With regards to their clientele, Hayden noted, “For our customers, we are always trying to go above and beyond with their experience so that it will be memorable and will hopefully see them come back to us in the future. This is why we place such a key focus on customer service and making sure we not only answer their questions but try and give them an experience that is beyond the norm.”

When it comes to those they do business with, this is what they do as a sign of gratitude. “And finally, with our partners, such as manufacturers and suppliers, we try and treat them with respect and loyalty. We understand how difficult it can be to run a business, particularly an SME, so we are always trying to be professional but also respectful of the challenges we are both facing and coming to a solution together. When we are establishing a relationship with a key partner for the first time, it has been important for me to build trust in the relationship from the outset. Some of our longest and strongest relationships in business have been with us for the whole journey, and it all started from making a bit of extra effort and understanding from the beginning,” Hayden revealed.

There are so many ways to express how thankful we are to people who have helped us along our entrepreneurial journey. No special occasion is needed to say “thank you” to someone because every day you’ll find a reason to be thankful for something good done to you. People will remember your good gesture of thanking them and appreciating their work, help or loyalty. It will create a positive ripple effect that will later come back to you a thousandfold.

How do you express gratitude to your stakeholders? How does it help you in your business? We’d like to hear your stories through our comment section below.