Remove Customer Remove Networking Remove Satisfaction Remove Statistics
article thumbnail

You Need Customer Loyalty, Not Just Satisfaction

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your price is not the lowest.

article thumbnail

8 Tasks To Prepare You For Starting Your Own Business

Startup Professionals Musings

To keep you out of this statistic, I recommend the following steps to all aspiring business owners as they step into this new and exciting world of managing your own business: Solidify your funding plan before you start spending. These are necessary to attract customers, investors, and give you a line of defense with competitors.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Customer Loyalty Can Be a Startup Competitive Edge

Startup Professionals Musings

You hear a lot of talk these days about the importance of customer satisfaction, but customer loyalty is the real win. A satisfied customer is necessary, but not sufficient, to be a loyal customer who will come back repeatedly, refer their friends and family to you, and be faithful even when your price is not the lowest.

Customer 104
article thumbnail

10 Startup Founder Decisions That Have No Good Answer

Startup Professionals Musings

That’s not an attractive statistic if you crave control and power. Offer low cash early, with bonuses or stock options for milestones, to people in your personal network. You can’t have it all, just like your startup can’t be all things to all customers. Later you need specialists and managers. The founder succession dilemma.

Startup 130
article thumbnail

Scaling a Business by Cloning Yourself is Tough

Startup Professionals Musings

Obviously we can find many critical success factors, like finding and retaining high-value customers, which apply to companies that are product centric or services centric. Customers don’t like people who don’t show their passion and love for the job. Networking and relationships. Scaling services means cloning yourself.

article thumbnail

10 Startup Quandaries That May Redefine Your Business

Startup Professionals Musings

That’s not an attractive statistic if you crave control and power. Offer low cash early, with bonuses or stock options for milestones, to people in your personal network. You can’t have it all, just like your startup can’t be all things to all customers. Later you need specialists and managers. The founder succession dilemma.

Startup 97
article thumbnail

Products vs Services – Critical Success Factors

Startup Professionals Musings

Obviously we can find many critical success factors, like finding and retaining high-value customers, which apply to companies that are product centric or services centric. Customers don’t like people who don’t show their passion and love for the job. Networking and relationships. Scaling services means cloning yourself.

Product 91