If the lifeblood of any business is customer cash, then perhaps we can consider customer satisfaction the heart and soul.
As a CEO, you likely are well aware of the value of a satisfied consumer. They stick around, spend more, and often become fierce advocates for your company, its products, and services.
Sun, Oct 6, 2013 — The Pareto Principle It was business management consultant Joseph Juran who suggested the 80/20 principle and named it after Italian economist Vilfredo Pareto – citing that for many events, roughly 80% of the effects come from 20% of the causes. It was 1906 when Pareto observed that 80% of the land in Italy was owned by 20% of the population. He then noted that 80% of the peas in his garden came from 20% of the pea pods. Today, in business, many have observed this “Pareto Principle” across various company operations:
Sat, May 5, 2012 — A successful small to medium size business often runs the risk of feeling “too comfortable." Even though revenue is coming in, your customers like you, and your sales force is calling on customers regularly, you aren’t seeing the growth you are looking for. This lack of desired growth may be a result of new competitors, new products or services in the market, or that the market itself is growing stagnant. Get Outside Your Comfort Zone If any or all of these things are happening it should cause you to take a hard look at your business and consider going out of your comfort zone to continue to grow. It may be time to consider looking for new markets for your product. If you've grown comfortable selling to one or a few vertical markets, going beyond them may cause fundamental changes in your company. You may have to learn new industries, call on different kinds of buyers, and maybe have to recruit new sales people with knowledge of this new category. Market Expansion Most of all, you will have to take a hard look at your business and decide what kinds of problems you can be solving for new and different companies. Really getting into the guts of your business and looking beyond the obvious answers can sometimes be a painful exercise. You may be required to change the culture of your company in order to accommodate this new market opportunity that you have uncovered. But, the growth that comes with it is definitely worth the effort.
Mon, Jan 30, 2012 —
