Everyone knows that money can’t buy happiness, but when British economists at Warwick University studied 90,000 twenty-somethings for seven years running they found out that the opposite actually is true -- happiness can create wealth.
Happiness Equals Success
Happy merchants, as it turns out, make better decisions and believe they can handle greater challenges. They don’t get sick as often so they’re always there to pitch in. Their smiling “can do” attitude helps them expand their social network, which makes it easier for them to succeed at future projects. They usually get more attention and tend to form better relationships, making it even easier for them to thrive in the business world. So it should come as no surprise that happy merchants are more likely to experience success in their careers.
You’ve always known that your prospects respond best when a smiling professional handles them confidently and with good humor. Now you have something close to statistical evidence that happiness can drop to your bottom line.
Happiness Equals a Longer Life
And the happiness payoff involves a lot more than money. In fact, in another long-term study of 26,000 people, researchers at the University of Michigan found out that the richer you are the longer you’ll live.
Now, to be sure, the life expectancy of almost everyone, not just merchants, in the United States has been going up for decades. And according to the American Medical Association we’re not just living longer -- we’re healthier for more of our lives.
But wealth has a measurable impact on life expectancy. In fact, the wealthiest 10% of American men might live six years longer than average, and women in the same bracket might live three years longer. Even for those more modestly ranked in the richest 60% to 70% bracket, men may still live four years longer and women may get an extra year.
Why?
The study didn’t explain why this happens, but a few common-sense reasons probably explain a lot. Wealthy people can eat better, afford safer cars, endure less stress and have access to expert health care. Needless to say, having these things for yourself and for your family might make you happier, which might make you wealthier, which might make you happier…and so on.
If this is true, then businesses that focus on workplace happiness may enjoy a number of competitive advantages. Paul Spiegelman, a Texas entrepreneur who wrote the book, Why is Everyone Smiling?, offers some insightful suggestions on how you can take your business up to the next notch on the happiness meter. Perhaps you’ll be able to see a measurable effect on your bottom line.
One Merchant Guarantee for Happiness and a Longer Life
And if wealth has a measurable effect on the length of your life, then it is certainly in your best interest to accumulate all that is due to you by protecting your profitability. One of the quickest ways for a merchant to lose their smiling disposition is to get a returned check from a customer. It’s always at least as frustrating as it is costly. But you can protect your business – and your well-being – with a check guarantee service. That way, you can minimize the number of bad checks you accept and get reimbursed if one gets past you. Why risk your cash flow, your happiness and longevity when you can accept checks with a smile and a guarantee?
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