A Quote by Meg Whitman
The fact that used cars is our largest category is a good example. We would not have sat in a conference room and said, "Hey, how about used cars?" So what can be learned that is extensible to other companies is to ask what are your customers doing with your products that maybe you didn't anticipate that they would do? How do you think of your customers as your research and development lab, as opposed to having an R&D lab at headquarters?
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Ask your loyal customers for positive comments about your products and your service. Then post these testimonials where other customers and prospects can enjoy them.
Only by moving away from the comforts of your conference room to truly engage with and listen to your customers can you learn in depth about their problems, produce features to solve those problems, and learn what drives customers to recommend, approve, and purchase products.
If your employees are disengaged, and they don't take care of your customers, it doesn't matter how good your strategy is - your customers will still go somewhere else.
Entrepreneurship is all about an idea that creates differentiated business value to one's customers. You must be able to convince your customers about the benefits that association with you or your products will give them. People are ready to pay if they are convinced about your services or products.
Not being in tune with your customers is like living in an alternate reality; the way you think your customers feel about your product is not always the same as what your customers really think about your product.
As a leader, you absolutely must expend your energy engaging your frontline employees so that they will take care of customers, who will tell stories about how great your company is to other people, who will become new customers.
Companies ignoring their customers. I think it's unforgivable. And I count using a chatbot on your website as ignoring your customers. Stop doing it.
I spend a lot of my time on the phone, pestering people. 'What's new in your lab? Can I come visit your lab? When can I come visit your lab?' I'm basically a professional pesterer.
No matter what your product is, you are ultimately in the education business. Your customers need to be constantly educated about the many advantages of doing business with you, trained to use your products more effectively, and taught how to make never-ending improvement in their lives.
Don Keough's (CEO Coca-Cola) 11 Rules on "HOW TO LOSE": 1. Stop taking risks 2. Be content 3. Never deviate from what the founder did 4. Be inflexible 5. Rely totally on research and experts 6. Concentrate on competitors instead of your customers 7. Put yourself - not the customer - first 8. Solve administrative concerns first 9. Let others do your thinking for example, headquarters 10. Rely on T-G-E: "That's Good Enough" and T-N-M-J: "That's Not My Job!" 11. Rationalize slow growth
People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.
If you burn out you aren't doing your customers or your investors or your employees any favors. You need to create a situation inside your company where you are going to be retained for a long time. I think that's your obligation if you're good.
I used to think that, by the 21st century, cars would run on electricity rather than gasoline and would have guidance systems so that they actually drove themselves. Specially equipped roadways would transmit instructions to the cars, telling them where to go and how fast. I figured this would be in the lines painted on the roads.
One of the most important pieces of advice that I have learned is to listen to your customers. They will be able to tell you how your business is doing and what direction you need to go in.
Customers are still setting the technology agenda. Not just you, our customers, but your customers as well. What more and more are telling you is what kind of services they need, and how and when they want those services delivered to them. And in fact, that is just the beginning.
Cars are not a suit of clothes; cars are an avatar. Cars are an expansion of yourself: they take your thoughts, your ideas, your emotions, and they multiply it.
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