A Quote by Jeff Bezos
All businesses need to be young forever. If your customer base ages with you, you're Woolworth's.
Related Quotes
If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
All the businesses from the beginning of history have struggled with product development (assuming there is a market, doing the market testing and so on). But now they start with customer development. Get the customer who says, "Yes. I want that. I need it. I wanna use it. I'll pay for it." And then you go back and work with your engineers. It is changing the world!
Your business should be defined, not in terms of the product or service you offer, but in terms of what customer need your product or service fulfills. While products come and go, basic needs and customer groups stay around, i.e., the need for communication, the need for transportation, etc. What market need do you supply?
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.
Companies cannot really see beyond their current customer base. They explicitly or implicitly do things to protect their current customers. And the last person to want real change is your customer. This is why most new ideas come from small companies that have nothing to lose.
When you understand your customer base, you have to provide them with what they want.
New Hampshire state government is a big customer for prescription drug companies. Just as businesses do, we should take advantage of the bargaining power we have as a big customer.
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.
Even if someone is already in your market space, ask yourself whether you can approach it from a different angle and thereby secure your own customer base.
I think Amazon is the preeminent pioneer in building a new way of doing commerce: personalized, database-driven commerce, where the big value is not in the purchase fulfillment, but in knowing as much about a customer base of ten or twenty million people as a corner store used to know about a customer base of a few hundred. In today's mass-merchandising world, that's largely gone; Amazon is trying to use computer technology to re-establish it.
Small businesses were slower than large businesses in adopting broadband. One of the reasons was they were concerned with putting their customer lists online or in the cloud.
The best customer service is if the customer doesn't need to call you, doesn't need to talk to you. It just works.
Only a few businesses will succeed by having the lowest price, so most will need a strategy that includes customer services.
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.
The United States is a huge market, and once you get rolling, you can replicate that model over and over pretty easily. Your supply lines are taken care of. You don't have technicians to deal with. You've got your customer base.
Businesses once grew by one of two ways; grass roots up, or by acquisition... Today businesses grow through alliances - all kinds of dangerous alliances. Joint ventures and customer partnerings which, by the way, very few people understand.
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