A Quote by Esther Dyson
The best investor is your customer.
Related Quotes
For Customer Development to succeed, everyone on the team - from investor or parent company to engineers, marketers and founders - needs to understand and agree that the Customer Development process is different to its core.
Suppose you were a real estate investor with a 1/3 interest in the best apartment complex in town, the best mall, and the best office building. Would you feel like a poor, undiversified investor? No! But as soon as you get into stocks, people feel this way. Partly, people need to justify their fees.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
When you can show concern about what matters to your customer, that's Business to Customer Loyalty, and you can bet on it, you've just acquired a customer for life.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
A true entrepreneurial enterprise begins with a big idea - a unique way to solve a customer's problem. Your customer, after all, is the only justification for creating a company in the first place. Without a big, transformational idea, you can't produce a great result for your customer.
If you're a technology investor, and you decide that you're also going to be a healthcare investor or a green-tech investor, that doesn't usually work out that well. There are reasons why people make their careers studying these things and becoming experts.
The best time to do great customer service is when a customer is upset.
Customer expectations? Nonsense. No customer ever asked for the electric light, the pneumatic tire, the VCR, or the CD. All customer expectations are only what you and your competitor have led him to expect. He knows nothing else.
The most customer-centric organizations can answer any question by deciding what's best for the customer, without ever having to ask.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
Here’s how to know if you have the makeup to be an investor. How would you handle the following situation? Let’s say you own a Procter & Gamble in your portfolio and the stock price goes down by half. Do you like it better? If it falls in half, do you reinvest dividends? Do you take cash out of savings to buy more? If you have the confidence to do that, then you’re an investor. If you don’t, you’re not an investor, you’re a speculator, and you shouldn’t be in the stock market in the first place.
You don't need a big close, as many sales reps believe. You risk losing your customer when you save all the good stuff for the end. Keep the customer actively involved throughout your presentation, and watch your results improve.
I do think that impact investing is not that effective. Shares go from investor A to investor B, and the company doesn't even know it. It's inevitably an ineffective way to communicate to the company your feelings.
Sales is the most important aspect of a company, which in turn is about how well you treat your customer and stay ahead of your customer's requirements.
The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
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