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As organizations we have become more open and I believe this is great for businesses and their customers. We spent time out in the marketplace talking with customers, looking at their solutions, comparing ourselves with our competition and then squirreling ourselves away in our offices designing our next set of features.
New generations of customers respond better to the “ participative ” approach, where they get to provide input via social media and the Internet. Some call it a move from always “ hunting ” for new customers in the wild, to “gardening” or nurturing loyalty and value from the ones you already have.
We are living in a new generation of business, where customers drive the experience, and highly engaged employees are required to keep up with customer expectations. Everyone needs to take the necessary action, despite their fears, to continuously explore new ideas. Enlightened: open your mind and constantly learn.
One of the complaints I often hear from engaged business professionals is that their new ideas, innovations, and change recommendations are unfairly criticized or dismissed without analysis. This argument is actually not attacking the idea, but shows a generalized resistance to change.
That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer.
It seems they are both looking for more personal satisfaction and sense of purpose for their efforts. Even the simplest of new technologies, such as Zoom for remote meetings, can be a detriment to work satisfaction if workers are not trained on how to use it effectively, causing video and sound problems, as well as background distractions.
They know there is nothing wrong with having passion for a new idea, but they don’t let it influence business decisions. Don’t look to customers for breakthrough ideas. Steve Jobs and Henry Ford are famous for their assertion that, contrary to popular belief, the customer isn't always right about what they want next.
According to Reitzin, CustomerSatisfaction Rep Brett Hopkins has taken advantage of the $1,000 bonus the company pays for any logo, tattooing a logo on his leg. The whole idea for the tattoo bounty at the Los Angeles firm came in March, when Reitzin got his own tattoo on his ankle of the firm's logo.
Most entrepreneur that fail are quick to offer a litany of constraints that caused their demise – not enough money, time, customers, or support from the right players. Subtraction leads to simplicity, better usability, and easier education of your customers. Find new ways to augment. It’s still a hard road to success.
I will highlight here just a few of the many lessons that they mention, and I also recommend, to get you started down the path to the satisfaction and success you dream about: Make sure some crazy ideas are added to your list. No idea should go unspoken. A popular and effective way to generate a range of ideas is brainstorming.
Most people think success depends on first having that innovative and unique idea, but I would beg to differ. As an angel investor, I have found that good ideas are a dime a dozen, but the ability to turn them into a successful business is a rare skill, or ideal focus. Able to marshal people and other support resources.
As a small business and startup advisor, I find that entrepreneurs often love to talk about their latest idea, but not their execution. Like most investors, I’m convinced that success in business is more about the plan and the person than the idea. Ideas can’t be tracked, and tend to only morph into other ideas as time passes.
But you have to be committed to the process of building your own thing and the act of creating something, rather than just coming up with an idea. It will likely take several ideas, with the learning process of failing on a couple, before you can call yourself a successful entrepreneur. Not every idea can, or will, be a winner.
That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer.
We also shared a passion for seeing others launch new ideas and grow them. Under Hsieh’s leadership, Zappos revolutionized the apparel industry, and e-commerce in general, by being one of the first to prioritize customersatisfaction and service. Tony Hsieh, Delivering Happiness: A Path to Profits, Passion, and Purpose.
Employee engagement is a measure of emotional commitment, leading to work focus, which translates to productivity, satisfaction and happiness. For leaders today, the success factors include a progressive, open attitude to new ideas and processes, wherever they may come from. Leaders must embrace respect, reciprocity, and recognition.
I’ve seen that in courses and in design specs many times, and it’s a HORRIBLE IDEA. Of course, improving customersatisfaction is a goal, but the system would drill down to specific issues such as knowledge of store layout. Yes, I’m yelling – it’s really that bad. Remember what it’s like when you set your own SMART goals.
Warning: Kelsey''s idea will make you ask yourself, "Why didn''t I think of that?". The gowns are then dry cleaned and readied for the next customer, in the spirit of the emerging sharing economy in which goods are communally used multiple times. We keep our eye on a handful of metrics, but we’re focused on customersatisfaction.
But we all know that these are not solutions by themselves, but require integration into an innovative framework to solve real customer problems. Here are some keys to that mindset that I have seen working for successful entrepreneurs: Think customer-centric rather than technology-centric. Be forever curious and optimistic.
Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Thus, in my view, entrepreneurship is an evolution of an idea through a series of developmental stages, culminating in a self-sustaining business. Startup and development stage.
For your own happiness and satisfaction, I recommend you start instead working from that higher purpose and passion. All too often, business owners find the financial returns alone do not provide the long-term satisfaction and success they assumed would come with all the hard work and challenges that come with every business, large or small.
Here are the key reasons that I recommend that aspiring leaders focus on people before process: Customers judge the business by the people quality. Whether it be in person, on the phone, or implied in your marketing, your people and their engagement level is the key driver of customer loyalty, advocacy, and sales growth.
Based on my own mentoring experience, here are seven key lessons I have learned, and offer to you as a potential source of inspiration and satisfaction, after some success in your business: Relationships are the real key to business success. Sharing through mentoring amplifies your satisfaction.
He provides dozens of ideas and examples to illustrate how this discipline can work, and the power it brings to any organization. The idea is to seek fundamental truths that will always remain true, after you remove all the things that don’t necessarily have to remain true. Outsource services back to the customer.
Many people believe that new ideas are the critical element of innovation, but in my experience as a mentor and investor, long-term business success is more about implementation than ideas. Everyone has ideas, but only a few can make them happen. We are looking for people who can lead a team and turn any idea into a business.
Many entrepreneurs I know conclude they can never be in control, due to the constant and unpredictable need to satisfy investors, vendors, and customers. Great entrepreneurs are willing and anxious to tackle these control challenges, and get real satisfaction from their acceptance of the “buck-stops-here” position of a business owner.
Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Thus, in my view, entrepreneurship is an evolution of an idea through a series of developmental stages, culminating in a self-sustaining business. Startup and development stage.
Trying to do everything is a sure way to maximize stress, lower job satisfaction, and minimize productivity. This early stage is often called the idea stage, best populated by people who see the need for change early, or always have a vision for unmet opportunities, or a better way to do things.
A theme I often hear from the entrepreneurs and startups I advise is that once they see that first surge of traction from customers, they can relax and enjoy life for a change. In today’s world of growing competition and customer evolution , holding your own, and growing to the next level is a constant challenge that can never be ignored.
You need them to make a personal commitment to customer service, improved quality, and change to improve the future. Satisfaction and commitment come from choosing a path to move forward, evaluation results and customer feedback, and learning from all their best efforts. Promote the sharing of ideas and feedback.
That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer.
There are many levels of innovation that go beyond copying someone else’s idea, but stop short of pushing the leading edge (bleeding edge). Or you may decide that your dream was not really the great idea that you thought it was. Market research can thus be based on real customers and a previously tested market.
Investors expect a great return for their risk, so they look for people who can look beyond the technology and their own passion to see a customer need that perhaps even the rest of us haven’t yet envisioned. Able to move smoothly from idea to execution. Some people like to talk incessantly about their idea and possibilities.
Others schedule exhaustive training sessions for everyone on the team, including showcase customers, to make sure that everyone paints a consistent picture. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad. Status of the solution.
I expect questions about how a business works, or what are best practices, but I really can’t help you with removing doubts on your abilities, or providing a sure-fire idea and formula for success in business. In my view, business leaders are not “idea people,” but people who drive a given idea to business results.
I still see entrepreneurs who spend money and time for months on a new business idea without any separation of personal and business funds, and any formal accounting system for their new business. Productivity and repeatability is the hallmark of a good business, whereas a hobby usually assumes everything is custom built and personal.
Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Thus, in my view, entrepreneurship is an evolution of an idea through a series of developmental stages, culminating in a self-sustaining business. Startup and development stage.
Jim Sterne, who has written many books on Internet advertising, marketing, and customer service, tackled this complex world of social media metrics in a classic book titled simply " Social Media Metrics." Social media is the realm of public opinion and customer conversations. Measure customer response and action.
Most of the entrepreneurs I meet as an investor and advisor have no shortage of right-brain thinking, showing vision and creativity, but often don’t realize that their potential is being limited by a balancing focus on results, metrics, and customer specifics. Listen to customer feedback and tune your vision.
Too many customers have long felt distanced from many successful brands, seeing them as closed and mysterious environments, focused only on profits and killing competitors. In the idea stage, get customers involved with an engaging contest. Shared ideas and rewards (open innovation). Shared risks (open capital).
Leading change is even harder, trying to balance the demands of the customers against the needs and expectations of employees. In parallel with fulfilling your own needs, always use your power to fulfill the needs of customers and team members. You can change products and services, but service and quality to customers must endure.
These haven’t changed much over the years, but still seem to be often overlooked by business professionals and leaders in their haste to keep up with peers, competitors, and customers in today’s volatile environment. Graduate from an idea person to one who delivers results. Ideas without results kill many businesses.
Employee engagement is a measure of emotional commitment, leading to work focus, which translates to productivity, satisfaction and happiness. For leaders today, the success factors include a progressive, open attitude to new ideas and processes, wherever they may come from. Leaders must embrace respect, reciprocity, and recognition.
The lesson here is that the right actions, follow-through, and commitments involved in starting a new venture are likely more important to ultimate success than honing the single ultimate idea, or getting the solution exactly right the first time. Incent and reward new ideas with action, not more study.
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