Q: I am a manager at a large Fortune 500 corporation and we do a lot of work with small businesses. Not only are they a big channel for us but they are also our vendors and part of our supplier diversity efforts. So I love small business. But one thing I have learned over the years is that they are not all equal. Some are very professional and appreciate the faith we put in them while others don’t really take advantage of the opportunity that working with us provides. Please let them know that while we are big, we appreciate professionalism – and we also really like to be appreciated too.

Richard

A: As a wise man once taught me, reciprocity is important in business, and life. And here, during the holiday season, it is especially important that small businesses remember that. It is easy this time of year to get so caught up in the hustle and bustle of the season, what with its importance to the bottom line, that we lose sight of the forest for the trees.

The typical way that most small business people say thank you of course is by giving a gift. And that’s smart, but let me also suggest that that gift does not always have to be in the form of a gift basket, or some chocolate, or a bottle of wine.

There are many other thoughtful, creative, and affordable ways that an entrepreneur can say thanks to the many people who make the dream a reality.

Give the gift of free: People love free. Free gets their attention. So, whatever service you provide or product you sell, your clients and customers will know that you really are thankful for their patronage if you give them either something extra at no extra cost, or give them what they normally pay for, for free.

Donate to their cause: Last year I bought a nice car at a local dealership. A few months later, during the holiday season, they sent me a card that read, “As a thank you for your patronage this past year, we have teamed up with Medical Teams International and are giving two month’s worth of prenatal vitamins in your name to women around the world living in extreme poverty.”

I appreciated that more than any little trinket or bakery good they could have sent me.

Host an event: If you are a retailer, you could have a special sale for your best customers only. Or you could host a dinner at your home, or at a nice restaurant. You could rent out a Chuck E. Cheese and have an event for the kids in your orbit; now that would be different, welcome, and memorable to boot.

Give the gift of time: What do your employees want this time of year? Some free time, that’s what. Scheduling them for some paid, extra time off, so that they can do some shopping or handle other errands, would certainly be a welcome gift.

Give a shout out: Another way to thank employees and other teammates for their help is to announce their great work to the world. You can give them a shout out via your social media, write a blog post about how extraordinary they are, mention it in your newsletter or e- newsletter, or what about this: Write a letter to their family, letting them know how special their loved one is and how much you appreciate what he or she does for your company. The important of course is that we do in fact take time to acknowledge those whose help make the difference.

For me, it is you.

I am sincerely grateful, humbled, and incredibly fortunate that I get to do this every week, and it is thanks to you. So my sincere and heartfelt thanks. I hope you have a happy, healthy, prosperous holiday season, and new year.

Today’s Tip: Bank of America (a company I do some work with) surveys small business owners twice a year and puts out the biannual Small Business Owner Report. This fall’s Report examined the differences between generations of small business owners, and the results were very interesting indeed.

Which generation do you think is the most optimistic about both their own business, as well as the overall economy – The Baby Boomers (ages 50-68), Generation X (ages 35-49), or the Millennials (ages 18-34)?

By far, it was the Millennials. 78% expected to increase revenues over the course of the next year (as opposed to 52% of Boomers), and 87% of the Millennials expected their businesses to grow over the next five years, compared to only 57% of the Boomers who felt that way. You can read more here.