A Quote by Tobias Lutke
If you go into business school and suggest firing a customer, they'll kick you out of the building. But it's so true in my experience. It allows you to identify the customers you really want to work with.
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Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business.
You have to realize that the customer really is king. People who go into more established businesses probably have to be careful not to be casual about that. When you have a brand-new business, and nobody knows who you are, you know you have to work really hard for your customers.
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.
The customer wants what the customer wants - when they want it, where they want it, and how they want it. And if you want to build a big business, and you want to be meaningful to a big, broad group of customers, you need to think about how you're going to meet them in the various places where they might expect to see you.
Simply because Amazon decides to pursue a market segment doesn't mean the customers are going to spend their money there, and so it means that we have to do an amazing job in providing a great customer experience that customers want.
Loyal customers, or customers who recommend their friends, give me the most pride. I think that is the biggest compliment I can get. I think in the restaurant business, it takes patience from the customer to spark up a relationship with the restaurateur, but it takes also work from the restaurateur to spark up a relationship with his customer.
The outside-in discipline requires that you have an explicit customer-based reason for everything you do in the marketplace. Managers need to create what I call "customer pictures," verbal descriptions of customers that highlight the key customer characteristics and make those customers come alive. Although managers never know as much about customers as they want and need to know, the outside-in discipline requires that they construct customer pictures anyway, basing the pictures on whatever hard data they have plus hypotheses and intuition.
By all means, fire the customers who aren't worth the time and the trouble. But understand that the moment you insist the customer is wrong, you've just started the firing process.
A lot of the philosophies of the businesses are just 'we're interested in getting customers now and if we're losing money with each customer now that's okay because we have this huge hoard of venture capital that we can subsidise the operation with and once we have the required number of tens of millions of customers and we drive our competitors out of business, then we can start to raise prices and become a proper business.'
The art of entrepreneurship and the science of Customer Development is not just getting out of the building and listening to prospective customers. It's understanding who to listen to and why.
That's a very critical phase in customer service because you can start to really understand what part of customer service has value to customers and what part is bothering customers.
Like any small business owner, I experienced the pressures of building a company from the ground up - developing a business plan, balancing the books, meeting payroll and building a customer base.
Like any small business owner, I experienced the pressures of building a company from the ground up - developing a business plan, balancing the books, meeting payroll and building a customer base
I've given my email address to all 3,000 T-Mobile stores. Serious customer escalations come directly to me. Customers get a kick out of me responding to them, and the employees do, too.
Higher education is the only business that has a ceremony for firing its customers.
The secret of successful retailing is to give your customers what they want. And really, if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.
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