Building goodwill STRONG RELATIONSHIPS ARE RETAILER'S MOST VALUABLE ASSETS

摘要

Retail propane is a people business where relationships are important.Take one rural Illinois propane marketer who each year gave one of his customers a quart of raspberries from his garden.This marketer created goodwill with his customer. Building goodwill with customers can directly increase the monetary value of a company.When a propane business is acquired,the accountant often allocates at least 50 percent of the purchase price to”goodwill”and”customer relationships.”To illustrate,a propane business acquired for $5 million likely will include at least $2.5 million in”goodwill”and”customer relationships.” Goodwill is also essential between the company's leadership and the employees.Leaders who value their employee relationships will likely have lower turnover,more motivated employees and employees who take care of the customer.Employees have a keen sense as to whether their leadership cares about the customer and the employee. The goal of every propane marketer should be to build that goodwill,leading to loyalty and long-term customer relationships.