A Quote by Marc Randolph
You pick what your customers want, not what your entrenched business model may require you to do.
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If you have a business model that relies on customers being misinformed, you better start working on changing your business model.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
You know your business model is broken when you're suing your customers.
You have to be passionate about your business. If you don't love your business, you are doing a terrible disservice to your customers and clients, your team members and business partners, your family and yourself.
What we want to do is call attention to the fact that when workers and business work together, when you create a stakeholder model of corporate governance, where you understand that you can do well by your workers, you can do well by your shareholders and you can do well by your customers, that's how we create a virtuous cycle.
Profit isn't and shouldn't be the mission of business. The mission of business is to help people. To help your customers, your co-workers, your employees, and your partners. Success is not a number - it's not X dollars or Y customers - it's a measurement of VALUE.
If you want your company to succeed, you have to have the confidence in your business to take a bet on its future - to risk destroying a mediocre business model for the chance to have a strong one.
Genealogy of ideas. You don’t get to pick your family, but you can pick your teachers and you can pick your friends and you can pick the music you listen to and you can pick the books you read and you can pick the movies you see.
Growing your own business is great. Watching your ideas come to life, taking care of new customers and watching them become repeat customers, and successfully building your team is a feeling that can't be matched.
In business, we often say that your best customers are the customers you have now. In other words, your most successful sales leads come from the selling you've already done.
Before you can pick a social-media strategy, you have to think of your customer and what the value proposition is for them. Social media is a way to engage customers, not to give your business a 'shout out.'
Your customers are the lifeblood of your business. Their needs and wants impact every aspect of your business, from product development to content marketing to sales to customer service.
If you're constantly making business decisions on behalf of your investors first, ultimately you're going to wear down your other stakeholders. It's going to be potentially hurtful for your employees and your customers and the community you do business with.
What I tell founders is not to sweat the business model too much at first. The most important task at first is to build something people want. If you don't do that, it won't matter how clever your business model is.
Having been in the restaurant business, our job in the restaurant business is to be responsible for our customers' happiness. It's the nature of the hospitality business. You need to take care of people. You take care of customers above all others. Customers are your lifeblood.
A frustration I have is that a lot of people increasingly seem to equate an advertising business model with somehow being out of alignment with your customers. I think it's the most ridiculous concept.
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