Business ethics

Solid business ethics can help you establish a profitable, successful practice. And your clients will see your good side, too. Here are seven principles of admirable business ethics:

1. Be trustworthy. Clients want to do business with a practice they can trust. So make sure clients can rely on your character, ability, and honesty.

2. Keep an open mind. For any business to improve, the leaders must be open to new ideas. Ask for opinions and feedback from both clients and team members.

3. Meet your obligations. Regardless of the circumstances, do everything in your power to gain clients' trust, particularly if something has gone awry. Honor all your commitments and obligations.

4. Develop clear documents. Re-evaluate advertising, marketing, and educational or informational materials, making sure they're clear, precise, and professional. Most important, make sure they don't misrepresent your practice or goals.

5. Get involved in the community. Demonstrate that your business is a responsible community contributor by becoming and remaining involved in community-related issues and activities.

6. Maintain accounting control. Take a hands-on approach to accounting and record keeping. You'll gain a feel for the business side of your company, which should help you stay alert for questionable activities.

7. Be respectful. Regardless of differences in positions, titles, ages, or other characteristics, always treat others with respect and courtesy.

Robert Moment is a business coach, founder of consulting firm The Moment Group, and author of It Only Takes a Moment to Score: The Entrepreneur's Guide to Successfully Selling Business Ideas (iUniverse Inc., 2004).