I heard a story once about a debt collector who turned the standard business model on its head.
Instead of the manager incentivising it’s staff by the amount of revenue collected they incentivised them based upon the number of thank you cards the individual collector received.
Instead of collecting debt being the main goal, it was providing the best possible service. In turn the business grew because every person who had debts collected from them was so happy with the service they received. Whenever that person should need debts collecting there was only ever going to be one company they would want to act on their behalf.
Their customer service became their marketing.
Their motivation was doing what was right and not making money.
However the end result was they grew a successful business and made money.
NOTE: I will provide reference as to who that company was when I can track the company down. I think it was mention in Simon Sinek’s book “Start with why”
If you keep your shareholders happy you may keep your job but will you keep your customers?
If you keep your customers happy you will keep your customers. In turn keeping your shareholders happy.
So why do YOU Mr CEO put your shareholders first?
Many companies fear what might happen if someone shares something about them on social media that makes the outside world view them in a bad light.
Here is another way of looking at it.
If you are so worried about what people might think of you if they find out your dirty secrets then maybe you should not be doing that thing in the first place?
If you assumed your customers and prospects will find out everything you do then maybe you would make mutually beneficial decisions rather than ones that just benefit you?
Tips from Mashable back in 2009 on how to make your business more transparent
I found this Ted talk today about how the US government “Open government initiative“.
I have embedded the video below but if you can not see it visit this link
Watch President Obama speak on the subject
Cant see? Watch on youtube > > > http://www.youtube.com/watch?v=R2Bad3J7a4A