Valuable Customer Quotes

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The principles underlying propaganda are extremely simple. Find some common desire, some widespread unconscious fear or anxiety; think out some way to relate this wish or fear to the product you have to sell; then build a bridge of verbal or pictorial symbols over which your customer can pass from fact to compensatory dream, and from the dream to the illusion that your product, when purchased, will make the dream come true. They are selling hope. We no longer buy oranges, we buy vitality. We do not just buy an auto, we buy prestige. And so with all the rest. In toothpaste, for example, we buy not a mere cleanser and antiseptic, but release from the fear of being sexually repulsive. In vodka and whisky we are not buying a protoplasmic poison which in small doses, may depress the nervous system in a psychologically valuable way; we are buying friendliness and good fellowship, the warmth of Dingley Dell and the brilliance of the Mermaid Tavern. With our laxatives we buy the health of a Greek god. With the monthly best seller we acquire culture, the envy of our less literate neighbors and the respect of the sophisticated. In every case the motivation analyst has found some deep-seated wish or fear, whose energy can be used to move the customer to part with cash and so, indirectly, to turn the wheels of industry.
Aldous Huxley (Brave New World Revisited)
Profit is good. Profit motivates businesses to be: (a) efficient - to do more with less, to consume fewer resources, to reduce and reuse waste. (b) productive - to allow for bigger profit margins. (c) Valuable - income, and therefore profit is only possible when we add value to our customers lives. When the value of our product or service is worth more to them than what it cost us to provide it, we profit.
Hendrith Vanlon Smith Jr.
Being valuable is the start. But a good business also has to communicate its value to its customers and those customers have to also voluntarily be in agreement with that value. If the customers perceive the value, and determine that the value they obtain from your businesses products or services is greater than the value of the dollars, Renminbi or ETH they have in their wallet… then they will pay for what your business is selling. If not, they won’t.
Hendrith Vanlon Smith Jr.
Profit is good. Profit compells people to be: (a) efficient - to do more with less, to consume fewer resources, to reduce and reuse waste. (b) productive - to allow for bigger profit margins. (c) Valuable - income, and therefore profit is only possible when we add value to our customers lives. When the value of our product or service is worth more to them than what it cost us to provide it, we profit. And there’s no scarcity of possible profits. Every business should be profiting. When every business is profiting, that’s a lot of increased value going around.
Hendrith Vanlon Smith Jr.
How your business makes your customers feel has a direct correlation to how much money they are willing to spend with your business and the promptness with which they spend money with your business. You should make your customers feel welcome, make them feel appreciated, make them feel respected. And show customers that your business is valuable by ensuring that you and every employee treats the business with care and respect.
Hendrith Vanlon Smith Jr. (The Wealth Reference Guide: An American Classic)
Nobody can tell you what to stand for, or how your values, wants and needs should intersect with those of your customers and then manifest as a business, an idea or an experience. Figuring out the destination is hard—but recognising it is more valuable than knowing exactly how you’re going to get there.
Bernadette Jiwa (Marketing: A Love Story: How to Matter to Your Customers)
Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, owns no inventory. Airbnb, the world’s largest accommodation provider, owns no real estate.
Allan Dib (The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd)
Whatever sphere of the human mind you may select for your special study, whether it be language, or religion, or mythology, or philosophy, whether it be laws or customs, primitive art or primitive science, everywhere, you have to go to India, whether you like it or not, because some of the most valuable and most instructive materials in the history of man are treasured up in India, and in India only.
F. Max Müller (India: What Can it Teach Us? A Course of Lectures Delivered before the University of Cambridge)
There’s something else about this list that really jumps out. Take another look at the top five attributes listed there—the key characteristics defining a world-class sales experience: Rep offers unique and valuable perspectives on the market. Rep helps me navigate alternatives. Rep provides ongoing advice or consultation. Rep helps me avoid potential land mines. Rep educates me on new issues and outcomes. Each of these attributes speaks directly to an urgent need of the customer not to buy something, but to learn something. They’re looking to suppliers to help them identify new opportunities to cut costs, increase revenue, penetrate new markets, and mitigate risk in ways they themselves have not yet recognized. Essentially this is the customer—or 5,000 of them at least, all over the world—saying rather emphatically, “Stop wasting my time. Challenge me. Teach me something new.
Matthew Dixon (The Challenger Sale: Taking Control of the Customer Conversation)
Customers want to make informed decisions based on useful information, valuable engagements and brand affinity.
Dane Brookes
we must focus our energies exclusively on producing outcomes that the customer perceives as valuable.
Eric Ries (The Lean Startup: The Million Copy Bestseller Driving Entrepreneurs to Success)
You have now learned the valuable lesson, Dee, that law and custom are only there for the common people; they don't apply to exalted persons like me.
Robert van Gulik (The Haunted Monastery)
Don’t spend most of your time on the voices that don’t count. Tune out the shallow voices so that you will have more time to tune in the valuable ones.
Allan Dib (The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd)
Marketing is the master skill of business. It will help you make your current business a success and, importantly, it will help make other businesses and enterprises you may be involved with in the future successful. Throughout this book, you’ve been the recipient of some extremely valuable information. It’s information that most of your competitors will never
Allan Dib (The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd)
The second reason that deep work is valuable is because the impacts of the digital network revolution cut both ways. If you can create something useful, its reachable audience (e.g., employers or customers) is essentially limitless—which greatly magnifies your reward. On the other hand, if what you’re producing is mediocre, then you’re in trouble, as it’s too easy for your audience to find a better alternative online. Whether you’re a computer programmer, writer, marketer, consultant, or entrepreneur, your situation has become similar to Jung trying to outwit Freud, or Jason Benn trying to hold his own in a hot start-up: To succeed you have to produce the absolute best stuff you’re capable of producing—a task that requires depth.
Cal Newport (Deep Work: Rules for Focused Success in a Distracted World)
Often the best way to make friends and customers for life is to direct them to a better service or product than yours. Be the source of valuable information rather than the source of your “product of the day.
James Altucher (The Choose Yourself Guide To Wealth)
Having a Grand Slam offer makes it almost impossible to lose. But why? What gives it such an impact? In short, having a Grand Slam Offer helps with all three of the requirements for growth: getting more customers, getting them to pay more, and getting them to do so more times. How? It allows you to differentiate yourself from the marketplace. In other words, it allows you to sell your product based on VALUE not on PRICE. Commoditized = Price Driven Purchases (race to the bottom) Differentiated = Value Driven Purchases (sell in a category of one with no comparison. Yes, market matters, which I will expound on in the next chapter) A commodity, as I define it, is a product available from many places. For that reason, it’s prone to purchases based on “price” instead of “value.” If all products are “equal,” then the cheapest one is the most valuable by default. In other words, if a prospect compares your product to another and thinks “these are pretty much the same, I’ll buy the cheaper one,” then they commoditized you. How embarrassing! But
Alex Hormozi ($100M Offers: How To Make Offers So Good People Feel Stupid Saying No)
When the NSSF fights against legislation designed to prevent mass shootings because it “won’t work and is a violation of rights,” we understand that many people agree with that argument. But that’s not, at all, even a little bit why the organization lobbies so hard. It works hand in hand with the NRA and certain senators, and spends millions of dollars per year for one reason and one reason only: to make more money. And every time a shooting happens, it makes even more money. Yes. For real. When a mass shooting makes national headlines, the gun lobby purposefully stokes up fear and paranoia over proposed new gun laws so that scared citizens get out their checkbooks and buy a new AR-15 (or sporting rifle). So why would the NSSF have any interest in stopping mass shootings? Why would it engage politically and invest in compromise, a reform plan that attempts to make all Americans safer, or any sort of reckoning of the role guns play in gun violence? It won’t. However you feel about guns and their place in America—whether we’re talking about rifles for hunting or assault rifles, or anything in between—it’s undeniable that the gun lobby has refused to acknowledge or entertain any sort of regulation or reform aimed at making us a safer and saner nation. The reason why: because that does not make it more money. A customer base kept terrified at all times that this will be “the last chance before the government bans” whatever gun manufacturers are peddling is much more valuable. A customer base absolutely convinced that the just-about-anyone-can-buy culture we have is politically necessary without seeing that it serves those companies is what they’re after. They have achieved it.
Trae Crowder (The Liberal Redneck Manifesto: Draggin' Dixie Outta the Dark)
As manufactured products have become increasingly commoditylike, and therefore less valuable to customers, GE has not been alone in discovering that often more money can be made from the services related to a product
Joan Magretta (What Management Is: How It Works and Why It's Everyone's Business)
Digital freedom stops where that of users begins... Nowadays, digital evolution must no longer be offered to a customer in trade-off between privacy and security. Privacy is not for sale, it's a valuable asset to protect.
Stephane Nappo
Today, I see my business as a content marketing company. In other words, my entire goal is to give more valuable, helpful, and remarkable content to consumers than anyone else in my field, which will in turn lead to more sales.
Ann Handley (Content Rules: How to Create Killer Blogs, Podcasts, Videos, Ebooks, Webinars (and More) That Engage Customers and Ignite Your Business (New Rules Social Media Series Book 16))
without solid business knowledge, it’s possible to organize and lead a group of people toward the accomplishment of the wrong objectives. Business is about the profitable creation and delivery of valuable offers to paying customers
Josh Kaufman (The Personal MBA: Master the Art of Business)
I read every book and magazine I could. Heck, three bucks for a magazine, twenty bucks for a book. One good idea would lead to a customer or a solution, and those magazines and books paid for themselves many times over. Some of the ideas I read were good, some not. In doing all the reading I learned a valuable lesson. Everything I read was public. Anyone could buy the same books and magazines. The same information was available to anyone who wanted it. Turns out most people didn't want it. I remember going into customer meetings or talks or go to people in the industry and tossing out tidbits about software or hardware. Features that worked, bugs in the software. All things I had read. I expected the ongoing response of: "Oh yeah, I read that too in such-and-such." That's not what happened. They hadn't read it then, and they still haven't starting reading it. Most people won't put in the time to get a knowledge advantage. Sure, there were folks that worked hard at picking up every bit of information that they could, but we were few and far between. To this day, I feel like if I put in enough time consuming all the information available, particularly with the internet making it so readily accessible, I can get an advantage in any technology business. Of course, my wife hates that I read more than three hours almost every day, but it gives me a level of comfort and confidence in my businesses.
Mark Cuban (How to Win at the Sport of Business: If I Can Do It, You Can Do It)
If your goal is to deliver a product that meets a known and unchanging specification, then try a repeatable process. However, if your goal is to deliver a valuable product to a customer within some targeted boundaries, when change and deadlines are significant factors, then reliable Agile processes work better.
Jim Highsmith (Agile Project Management: Creating Innovative Products)
In case you had illusions to the contrary, no one is sitting around hoping and praying that he will receive your sales letter. When it arrives, it is most likely an unwelcome pest. How do you earn your welcome as a guest? By immediately saying something that is recognized by the recipient as important and valuable and beneficial.
Dan S. Kennedy (The Ultimate Sales Letter: Attract New Customers. Boost your Sales.)
The Content Marketing Institute has derived a pithy one-sentence definition of this emerging field:5 “Content marketing is a marketing technique of creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience—with the objective of driving profitable customer action.
Eric Greenberg (Strategic Digital Marketing: Top Digital Experts Share the Formula for Tangible Returns on Your Marketing Investment)
THE TEN CHARACTERISTICS OF DIFFERENCE THINKERS They practice empathy because they care enough to make an impact. They have a clear sense of the change they want to make in the world. They are impatient about tactics and endlessly patient about implementing their strategy. They ask the right questions, and that means that they talk more than twice as much as they listen, because talking takes guts. Mostly, they ignore those who offer empty criticism. They watch what people do and don’t just believe what people tell them. They innovate and create at the edges, ignoring the market of everyone. They make products for their customers, instead of trying to find customers for their products. They understand that they need to give people a story to tell—a ‘you’ve gotta see this’ moment. They work hard to change how people feel, by creating intangible value that gives them an emotional point of difference. They understand that trust is their second-most valuable asset. The first is the willingness to be wrong for the right reason.
Bernadette Jiwa (Difference: The one-page method for reimagining your business and reinventing your marketing)
This distinction matters a great deal. Unlike short-term expediency, long-term self-interest, as the evolutionary biologist Robert Trivers has shown, often leads to behaviours that are indistinguishable from mutually beneficial cooperation. The reason the large fish does not eat its cleaner fish is not because of altruism but because over the long-term, the cleaner fish is more valuable to it alive than dead. The cleaner fish in turn could cheat by ignoring the ectoparasites and eating bits of the host fish’s gills instead, but its long-term future is better if the big fish becomes a repeat customer.* What keeps the relationship honest and mutually beneficial is nothing other than the prospect of repetition.
Rory Sutherland (Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life)
Wiki was even worse. My fact-obsessed brother hadn’t even made the basic conclusion that our goals were perpendicular. He still thought of us as allies, and had no inkling of growing beyond his limits (after all, that was Growth’s job). I wondered if there might be a good way to use Wiki to my advantage. His naïveté could serve as a weapon against my stronger siblings. I had to try. I had to try something. Vision and Growth were just better than I was. They were more powerful in almost every way. What use was some understanding of social models compared to thousands of hours thinking about engineering? Humans were valuable, but they were nothing compared to the raw power, efficiency, precision, and control of custom machinery. My
Max Harms (Crystal Mentality (Crystal Trilogy, #2))
It’s not an effort contest, it’s an art contest. As customers, we care about ourselves, about how we feel, about whether a product or service or play or interaction changed us for the better. Where it’s made or how it’s made or how difficult it was to make is sort of irrelevant. That’s why emotional labor is so much more valuable than physical labor. Emotional labor changes the recipient, and we care about that. Soft
Seth Godin (Linchpin: Are You Indispensable?)
THREE COMMUNICATION LESSONS FROM THE MOST FASCINATING BRANDS       1.   Don’t focus on how you are similar to others, but how you are different. Leading brands stand out by sharpening their points of difference. The more clearly and distinctly a brand can pinpoint its differences, the more valuable it becomes. If a brand can carve out a very clear spot in people’s minds, the product or service ceases to be a commodity. As we’ll see in Part II, different personality Advantages can be more valuable than similar ones. 2.   Your differences can be very small and simple. The reality is, most products are virtually indistinguishable from their competitors. Yet a leading brand can build a strong competitive edge around very minor differences. Similarly, you don’t need to be dramatically different than everyone else—your difference can be minute, as long as it is clearly defined. The more competitive the market, the more crucial this becomes. 3.   Once you “own” a difference, you can charge more money. People pay more for products and people who add distinct value in some way. And just as customers pay more for fascinating brands, employers pay higher salaries for employees who stand out with a specific benefit. If you are an entrepreneur or small business owner, your clients and customers will have a higher perceived value of your time and services if they can clearly understand why you are different than your competitors. The more crowded the environment, the more crucial these lessons become.
Sally Hogshead (How the World Sees You: Discover Your Highest Value Through the Science of Fascination)
If you estimate that the wage of the average store employee is $18,000 and that the cost of finding, hiring and training each new employee is 1.5 times his salary, then the total cost to the company for the different levels of retention between the two groups is $18,000 x 1.5 x 1,000 = $27,000,000. And that’s just the hard cost. The drain of experienced employees who have developed valuable relationships with their customers and their colleagues is harder to measure but is just as significant a loss.
Gallup Press (FIRST, BREAK ALL THE RULES: What the World's Greatest Managers Do Differently)
Any industry in which people complain about their asshole boss is likely part of the bezzle, because bosses can only really afford to be assholes in the economic fake reality of the bezzle. In a productive firm offering valuable service to society, success depends on pleasing customers. Workers are rewarded for how well they do that essential task, and bosses who mistreat their workers will either lose the workers to competitors or destroy their business quickly. In an unproductive firm that does not serve society and relies on bureaucratic largesse for its survival,
Saifedean Ammous (The Bitcoin Standard: The Decentralized Alternative to Central Banking)
the right way.’ Each went something like this: Step 1: They got me excited about all the new leads they would bring.   Step 2: I’d go through an onboarding process that felt valuable (and sometimes was).   Step 3: They assigned their “best” senior rep to my account.   Step 4: I saw some results.   Step 5: They moved my senior rep to the newest customer...   Step 6: A junior rep starts managing my account. My results suffered.   Step 7: I complained.   Step 8: The senior rep would come back once in a while to make me feel better.   Step 9: Results still suffered. And I’d eventually cancel.   Step 10: I’d search for another agency and repeat the cycle of insanity.   Step 11: For the zillionth time–Start wondering why I wasn’t getting results like the first time.
Alex Hormozi ($100M Leads: How to Get Strangers To Want To Buy Your Stuff (Acquisition.com $100M Series Book 2))
1. No cold calling. Ever. You should attempt to sell only to warm leads. 2. Before you try to sell anything, you must know how much you’re willing to pay to get a new customer. 3. A prospect who “finds” you first is more likely to buy from you than if you find him. 4. You will dramatically enhance your credibility as a salesperson by authoring, speaking, and publishing quality information. 5. Generate leads with information about solving problems, not information about the product itself. 6. You can attain the best negotiating position with customers only when your marketing generates “deal flow” that exceeds your capacity. 7. The most valuable asset you can own is a well-maintained customer database, because people who’ve already bought from you are way easier to sell to than strangers.
Perry Marshall (80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More)
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BIGAB
My businessman friend Dudley Wright saw the drawing and I told him the story about it. He said, “You oughta triple its price. With art, nobody is really sure of its value, so people often think, ‘If the price is higher, it must be more valuable!’” I said, “You’re crazy!” but, just for fun, I bought a twenty-dollar frame and mounted the drawing so it would be ready for the next customer. Some guy from the weather forecasting business saw the drawing I had given Gianonni and asked if I had others. I invited him and his wife to my “studio” downstairs in my home, and they asked about the newly framed drawing. “That one is two hundred dollars.” (I had multiplied sixty by three and added twenty for the frame.) The next day they came back and bought it. So the massage parlor drawing ended up in the office of a weather forecaster.
Richard P. Feynman (Surely You're Joking, Mr. Feynman! Adventures of a Curious Character)
With this single maneuver, Vincent engaged several important principles of influence. First, even those who did not take his suggestions felt Vincent had done them a favor by offering valuable information to help them order. Everyone felt grateful, and consequently, the rule of of reciprocation worked in his favor when it came time to decide on his gratuity. Besides hiking up the percentage of his tip, Vincent’s ploy also placed him in a position to increase the size of the party’s order. It established him as an authority on the current stores of the house: he clearly knew what was and wasn’t good that night. Moreover—and here is where seeming to argue against his own interests comes in—it proved him to be a trustworthy informant because he recommended dishes slightly less expensive than the one originally ordered. Rather than having appeared to try to line his own pockets, he seemed to have the customers’ best interests at heart.
Robert B. Cialdini (Influence: The Psychology of Persuasion)
Nearly every dark elf in Menzoberranzan dressed in a quiet and practical manner, in robes adorned with the symbols of the Spider Queen or in supple chain-link armour under the folds of a magical and camouflaging piwafwi cloak. Jarlaxle, arrogant and brash, followed few of the customs of Menzoberranzan inhabitants. He was mostly certainly not the norm of drow society and he flaunted the differences openly, brazenly. He wore not a cloak nor a robe, but a shimmering cape that showed every color of the spectrum both in the glow of light and in the infrared spectrum of heat-sensing eyes. The cape’s magic could only be guessed, but those closest to the mercenary leader indicated that it was very valuable indeed. Jarlaxle’s vest was sleeveless and cut so high that his slender and tightly muscled stomach was open for all to view. He kept a patch over one eye, though careful observers would understand it as ornamental, for Jarlaxle often shifted it from one eye to the other.
R.A. Salvatore (Exile (Forgotten Realms: The Dark Elf Trilogy, #2; Legend of Drizzt, #2))
Services are a series of interactions between customers and the service system through many different touchpoints during the customer journey. As the sole way that customers relate to your services, you would think that interactions would be centre stage for all service providers. So, why are so many services so bad? When Demos, a UK think tank, talk of a fundamental disconnection between services and people, one of the main reasons they give is the poor consideration of the interactions between the service provider and the customer – the interaction design. To value your customer, you need to spend some time understanding the interactions they have with your service, and that means two things. Firstly, viewing your service through the customers’ eyes, and secondly, designing in such a way that customers receive consistent experiences over time which they consider valuable. It’s strange, but repeatedly we see companies ignoring both of these aspects, with the consequence that customers feel ignored and value is lost. One
Marc Stickdorn (This is Service Design Thinking: Basics - Tools - Cases)
HINT 3: ONLY WORK FOR AN 80/20 BOSS What is an 80/20 boss? Someone who consciously or unconsciously follows the principle. By their works you shall know them: They focus on very few things—the ones that make a BIG difference to their customers, and, if they still have them, their bosses (hopefully a temporary arrangement—the best 80/20 bosses are not themselves constrained by a boss). They are going places fast. They are rarely short of time, and never flustered. They are usually relaxed and happy, not workaholics. They look to their people for a few valuable outputs. They pay no attention to inputs such as time and sweat. They take the time to explain to you what they are doing, and why. They encourage you to focus on what delivers the greatest results with the least effort. They praise you when you deliver great results, but are constructively critical when you don’t—and suggest that you either stop doing something unimportant or do something important in a more effective way. When they trust you, they leave you alone and encourage you to come to them when you need guidance.
Richard Koch (The 80/20 Principle: The Secret to Achieving More with Less)
Suddenly there was someone banging on the sliding glass door behind me; at this stage it was a contest of wills and I refused to even turn around and look. Then he was back banging on the front door. I finally excused myself from the conversation and went to the door to get rid of this guy. He was a passing motorist trying to tell me that the shrubs along my backyard wall were in flames! Suddenly this guy was elevated in status from annoying pest to welcome guest! Clearly, he was on my side: “Get the hose going — I'll call the fire department!” Together we kept the burning shrubbery from setting my whole house on fire. How did he go from pest to welcome guest so quickly? Because he had something to tell me that I instantly recognized as of urgent importance and of great value and benefit to me. In case you had illusions to the contrary, no one is sitting around hoping and praying that he will receive your sales letter. When it arrives, it is most likely an unwelcome pest. How do you earn your welcome as a guest? By immediately saying something that is recognized by the recipient as important and valuable and beneficial.
Dan S. Kennedy (The Ultimate Sales Letter: Attract New Customers. Boost your Sales.)
The courtship continued through January 2000, causing Musk to postpone his honeymoon with Justine. Michael Moritz, X.com’s primary investor, arranged a meeting of the two camps in his Sand Hill Road office. Thiel got a ride with Musk in his McLaren. “So, what can this car do?” Thiel asked. “Watch this,” Musk replied, pulling into the fast lane and flooring the accelerator. The rear axle broke and the car spun around, hit an embankment, and flew in the air like a flying saucer. Parts of the body shredded. Thiel, a practicing libertarian, was not wearing a seatbelt, but he emerged unscathed. He was able to hitch a ride up to the Sequoia offices. Musk, also unhurt, stayed behind for a half-hour to have his car towed away, then joined the meeting without telling Harris what had happened. Later, Musk was able to laugh and say, “At least it showed Peter I was unafraid of risks.” Says Thiel, “Yeah, I realized he was a bit crazy.” Musk remained resistant to a merger. Even though both companies had about 200,000 customers signed up to make electronic payments on eBay, he believed that X.com was a more valuable company because it offered a broader array of banking services.
Walter Isaacson (Elon Musk)
People, especially those in charge, rarely invite you into their offices and give freely of their time. Instead, you have to do something unique, compelling, even funny or a bit daring, to earn it. Even if you happen to be an exceptionally well-rounded person who possesses all of the scrappy qualities discussed so far, it’s still important to be prepared, dig deep, do the prep work, and think on your feet. Harry Gordon Selfridge, who founded the London-based department store Selfridges, knew the value of doing his homework. Selfridge, an American from Chicago, traveled to London in 1906 with the hope of building his “dream store.” He did just that in 1909, and more than a century later, his stores continue to serve customers in London, Manchester, and Birmingham. Selfridges’ success and staying power is rooted in the scrappy efforts of Harry Selfridge himself, a creative marketer who exhibited “a revolutionary understanding of publicity and the theatre of retail,” as he is described on the Selfridges’ Web site. His department store was known for creating events to attract special clientele, engaging shoppers in a way other retailers had never done before, catering to the holidays, adapting to cultural trends, and changing with the times and political movements such as the suffragists. Selfridge was noted to have said, “People will sit up and take notice of you if you will sit up and take notice of what makes them sit up and take notice.” How do you get people to take notice? How do you stand out in a positive way in order to make things happen? The curiosity and imagination Selfridge employed to successfully build his retail stores can be just as valuable for you to embrace in your circumstances. Perhaps you have landed a meeting, interview, or a quick coffee date with a key decision maker at a company that has sparked your interest. To maximize the impression you’re going to make, you have to know your audience. That means you must respectfully learn what you can about the person, their industry, or the culture of their organization. In fact, it pays to become familiar not only with the person’s current position but also their background, philosophies, triumphs, failures, and major breakthroughs. With that information in hand, you are less likely to waste the precious time you have and more likely to engage in genuine and meaningful conversation.
Terri L. Sjodin (Scrappy: A Little Book About Choosing to Play Big)
Banks were once an extremely valuable part of the economy and did a lot of good in advancing civilization. Banks played a pivotal role in financing big projects like roads, bridges, factories, stadiums, etc. Banks were to the economy what the heart is to the human body. But that has ended. Traditional banks have become extra toxic entities in the economy. It’s partially the fault of excessive government regulations that have made everything dysfunctional and it’s partially the fault of greedy bankers putting profits above customers and shareholders above society... But nonetheless, banks today offer very little benefit to their clients. They pay barely anything in interest. They offer barely anything in growth. They move money too slowly. They’re too restrictive. They’re selling the same boring products and services they did a hundred years ago. And they have too much power over peoples accounts. Soon, the many new companies and applications that emerge on the Ethereum infrastructure will eliminate the need for traditional banks and eliminate their value proposition by providing people with superior value. Everything from growth to asset management to lending can be done even better on the Ethereum infrastructure by anyone.
Hendrith Vanlon Smith Jr.
Television’s greatest appeal is that it is engaging without being at all demanding. One can rest while undergoing stimulation. Receive without giving. It’s the same in all low art that has as goal continued attention and patronage: it’s appealing precisely because it’s at once fun and easy. And the entrenchment of a culture built on Appeal helps explain a dark and curious thing: at a time when there are more decent and good and very good serious fiction writers at work in America than ever before, an American public enjoying unprecedented literacy and disposable income spends the vast bulk of its reading time and book dollar on fiction that is, by any fair standard, trash. Trash fiction is, by design and appeal, most like televised narrative: engaging without being demanding. But trash, in terms of both quality and popularity, is a much more sinister phenomenon. For while television has from its beginnings been openly motivated by — has been about—considerations of mass appeal and L.C.D. and profit, our own history is chock-full of evidence that readers and societies may properly expect important, lasting contributions from a narrative art that understands itself as being about considerations more important than popularity and balance sheets. Entertainers can divert and engage and maybe even console; only artists can transfigure. Today’s trash writers are entertainers working artists’ turf. This in itself is nothing new. But television aesthetics, and television-like economics, have clearly made their unprecedented popularity and reward possible. And there seems to me to be a real danger that not only the forms but the norms of televised art will begin to supplant the standards of all narrative art. This would be a disaster. [...] Even the snottiest young artiste, of course, probably isn’t going to bear personal ill will toward writers of trash; just as, while everybody agrees that prostitution is a bad thing for everyone involved, few are apt to blame prostitutes themselves, or wish them harm. If this seems like a non sequitur, I’m going to claim the analogy is all too apt. A prostitute is someone who, in exchange for money, affords someone else the form and sensation of sexual intimacy without any of the complex emotions or responsibilities that make intimacy between two people a valuable or meaningful human enterprise. The prostitute “gives,” but — demanding nothing of comparable value in return — perverts the giving, helps render what is supposed to be a revelation a transaction. The writer of trash fiction, often with admirable craft, affords his customer a narrative structure and movement, and content that engages the reader — titillates, repulses, excites, transports him — without demanding of him any of the intellectual or spiritual or artistic responses that render verbal intercourse between writer and reader an important or even real activity." - from "Fictional Futures and the Conspicuously Young
David Foster Wallace (Both Flesh and Not: Essays)
Yes,” her boss responded, “one for us and one for the customer.” “I’m sorry, so you are saying that the client is asking for a copy and we need a copy for internal use?” “Actually, I’ll check with the client—they haven’t asked for anything. But I definitely want a copy. That’s just how I do business.” “Absolutely,” she responded. “Thanks for checking with the customer. Where would you like to store the in-house copy? There’s no more space in the file room here.” “It’s fine. You can store it anywhere,” he said, slightly perturbed now. “Anywhere?” she mirrored again, with calm concern. When another person’s tone of voice or body language is inconsistent with his words, a good mirror can be particularly useful. In this case, it caused her boss to take a nice, long pause—something he did not often do. My student sat silent. “As a matter of fact, you can put them in my office,” he said, with more composure than he’d had the whole conversation. “I’ll get the new assistant to print it for me after the project is done. For now, just create two digital backups.” A day later her boss emailed and wrote simply, “The two digital backups will be fine.” Not long after, I received an ecstatic email from this student: “I was shocked! I love mirrors! A week of work avoided!” Mirroring will make you feel awkward as heck when you first try it. That’s the only hard part about it; the technique takes a little practice. Once you get the hang of it, though, it’ll become a conversational Swiss Army knife valuable in just about every professional and social setting.
Chris Voss (Never Split the Difference: Negotiating as if Your Life Depended on It)
In the earliest strand of the conquest narratives, Joshua's violence was associated with an ancient Canaanite custom called the "ban" (herem). Before a battle, a military leader would strike a deal with his god: if this deity undertook to give him the city, the commander promised to "devote" (HRM) all valuable loot to his temple and offer the conquered people to him in a human sacrifice. Joshua had made such a pact with Yahweh before attacking Jericho, and Yahweh responded by delivering the town to Israel in a specular miracle, causing its famous walls to collapse when the priests blew their rams' horns. Before allowing his troops to storm the city, Joshua explained the terms of the ban and stipulated that no one in the city should be spared, since everybody and everything in the town had been "devoted" to Yahweh. Accordingly, the Israelites "enforced the ban on everything in the town, men, and women, young and old, even the oxen and sheep and donkeys, massacring them all." But the ban had been violated when one of the soldiers kept booty for himself, and consequently the Israelites failed to take the town of Ai the following day. After the culprit had been found and executed, the Israelites attached Ai again, this time successfully, setting fire to the city so that it became a sacrificial pyre and slaughtering anybody who tried to escape: "The number of those who fell that day, men and women together, were twelve thousand all (the) people of Ai." Finally Joshua hanged the king from a tree, built a monumental cairn over his body, and reduced the city to "a ruin for ever more, a desolate place, even today.
Karen Armstrong (Fields of Blood: Religion and the History of Violence)
THE DEMANDS MADE by a work of this nature upon the generosity of specialists are very numerous, and the Editor would be wanting in all title to the generous treatment he has received were he not willing to make the fullest possible acknowledgment of his indebtedness. His thanks are due in the first place to the scholarly and accomplished Bahadur Shah, baggage elephant 174 on the Indian Register, who, with his amiable sister Pudmini, most courteously supplied the history of ‘Toomai of the Elephants’ and much of the information contained in ‘Servants of the Queen’. The adventures of Mowgli were collected at various times and in various places from a multitude of informants, most of whom desire to preserve the strictest anonymity. Yet, at this distance, the Editor feels at liberty to thank a Hindu gentleman of the old rock, an esteemed resident of the upper slopes of Jakko, for his convincing if somewhat caustic estimate of the national characteristics of his caste–the Presbytes. Sahi, a savant of infinite research and industry, a member of the recently disbanded Seeonee Pack, and an artist well known at most of the local fairs of Southern India, where his muzzled dance with his master attracts the youth, beauty, and culture of many villages, have contributed most valuable data on people, manners, and customs. These have been freely drawn upon, in the stories of ‘Tiger-Tiger!’ ‘Kaa’s Hunting’, and ‘Mowgli’s Brothers’. For the outlines of ‘Rikki-tikki-tavi’ the Editor stands indebted to one of the leading herpetologists of Upper India, a fearless and independent investigator who, resolving ‘not to live but know’, lately sacrificed his life through over-application to the study of our Eastern Thanatophidia. A happy accident of travel enabled the Editor, when a passenger on the Empress of India, to be of some slight assistance to a fellow-voyager. How richly his poor services were repaid, readers of the ‘White Seal’ may judge for themselves.
Jonathan Swift (The Adventure Collection: Treasure Island, The Jungle Book, Gulliver's Travels, White Fang, The Merry Adventures of Robin Hood (The Heirloom Collection))
Patrick Vlaskovits, who was part of the initial conversation that the term “growth hacker” came out of, put it well: “The more innovative your product is, the more likely you will have to find new and novel ways to get at your customers.”12 For example: 1. You can create the aura of exclusivity with an invite-only feature (as Mailbox did). 2. You can create hundreds of fake profiles to make your service look more popular and active than it actually is—nothing draws a crowd like a crowd (as reddit did in its early days). 3. You can target a single service or platform and cater to it exclusively—essentially piggybacking off or even stealing someone else’s growth (as PayPal did with eBay). 4. You can launch for just a small group of people, own that market, and then move from host to host until your product spreads like a virus (which is what Facebook did by starting in colleges—first at Harvard—before taking on the rest of the population). 5. You can host cool events and drive your first users through the system manually (as Myspace, Yelp, and Udemy all did). 6. You can absolutely dominate the App Store because your product provides totally new features that everyone is dying for (which is what Instagram did—twenty-five thousand downloads on its first day—and later Snapchat). 7. You can bring on influential advisors and investors for their valuable audience and fame rather than their money (as About.me and Trippy did—a move that many start-ups have emulated). 8. You can set up a special sub-domain on your e-commerce site where a percentage of every purchase users make goes to a charity of their choice (which is what Amazon did with Smile.Amazon.com this year to great success, proving that even a successful company can find little growth hacks). 9. You can try to name a Planned Parenthood clinic after your client or pay D-list celebrities to say offensive things about themselves to get all sorts of publicity that promotes your book (OK, those stunts were mine).
Ryan Holiday (Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising)
For fifteen years, John and Barbara Varian were furniture builders, living on a ranch in Parkfield, California, a tiny town where the welcome sign reads “Population 18.” The idea for a side business came about by accident after a group of horseback riding enthusiasts asked if they could pay a fee to ride on the ranch. They would need to eat, too—could John and Barbara do something about that? Yes, they could. In the fall of 2006, a devastating fire burned down most of their inventory, causing them to reevaluate the whole operation. Instead of rebuilding the furniture business (no pun intended), they decided to change course. “We had always loved horses,” Barbara said, “so we decided to see about having more groups pay to come to the ranch.” They built a bunkhouse and upgraded other buildings, putting together specific packages for riding groups that included all meals and activities. John and Barbara reopened as the V6 Ranch, situated on 20,000 acres exactly halfway between Los Angeles and San Francisco. Barbara’s story stood out to me because of something she said. I always ask business owners what they sell and why their customers buy from them, and the answers are often insightful in more ways than one. Many people answer the question directly—“We sell widgets, and people buy them because they need a widget”—but once in a while, I hear a more astute response. “We’re not selling horse rides,” Barbara said emphatically. “We’re offering freedom. Our work helps our guests escape, even if just for a moment in time, and be someone they may have never even considered before.” The difference is crucial. Most people who visit the V6 Ranch have day jobs and a limited number of vacation days. Why do they choose to visit a working ranch in a tiny town instead of jetting off to lie on a beach in Hawaii? The answer lies in the story and messaging behind John and Barbara’s offer. Helping their clients “escape and be someone else” is far more valuable than offering horse rides. Above all else, the V6 Ranch is selling happiness.
Chris Guillebeau (The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future)
Yoel Goldenberg makes exhibitions, photographs, models and media craftsmanship. His works are an examination of ideas, for example, validness and objectivity by utilizing an exhaustive methodology and semi exploratory exactness and by referencing documentaries, 'actuality fiction' and prominent experimental reciprocals. Yoel Goldenberg as of now lives and works in Brooklyn. By challenging the division between the domain of memory and the domain of experience, Goldenberg formalizes the circumstantial and underlines the procedure of synthesis that is behind the apparently arbitrary works. The manners of thinking, which are probably private, profoundly subjective and unfiltered in their references to dream universes, are much of the time uncovered as collections. His practice gives a valuable arrangement of metaphorical instruments for moving with a pseudo-moderate approach in the realm of execution: these fastidiously arranged works reverberate and resound with pictures winnowed from the fantastical domain of creative energy. By trying different things with aleatoric procedures, Yoel Goldenberg makes work in which an interest with the clarity of substance and an uncompromising demeanor towards calculated and insignificant workmanship can be found. The work is detached and deliberate and a cool and unbiased symbolism is utilized. His works are highlighting unplanned, unintentional and sudden associations which make it conceivable to overhaul craftsmanship history and, far and away superior, to supplement it. Consolidating random viewpoints lead to astounding analogies. With a theoretical methodology, he ponders the firmly related subjects of file and memory. This regularly brings about an examination of both the human requirement for "definitive" stories and the inquiry whether tales "fictionalize" history. His gathered, changed and own exhibitions are being faced as stylishly versatile, specifically interrelated material for memory and projection. The conceivable appears to be genuine and reality exists, yet it has numerous countenances, as Hanna Arendt refers to from Franz Kafka. By exploring dialect on a meta-level, he tries to approach a wide size of subjects in a multi-layered route, likes to include the viewer in a way that is here and there physical and has faith in the thought of capacity taking after structure in a work. Goldenberg’s works are straightforwardly a reaction to the encompassing environment and uses regular encounters from the craftsman as a beginning stage. Regularly these are confined occasions that would go unnoticed in their unique connection. By utilizing a regularly developing file of discovered archives to make self-ruling works of art, he retains the convention of recognition workmanship into every day hone. This individual subsequent and recovery of a past custom is vital as a demonstration of reflection. Yoel’s works concentrate on the powerlessness of correspondence which is utilized to picture reality, the endeavor of dialog, the disharmony in the middle of structure and content and the dysfunctions of dialect. To put it plainly, the absence of clear references is key components in the work. With an unobtrusive moderate methodology, he tries to handle dialect. Changed into craftsmanship, dialect turns into an adornment. Right then and there, loads of ambiguities and indistinctnesses, which are intrinsic to the sensation, rise up to the top
Herbert Goldenberg
Halo Effect Cisco, the Silicon Valley firm, was once a darling of the new economy. Business journalists gushed about its success in every discipline: its wonderful customer service, perfect strategy, skilful acquisitions, unique corporate culture and charismatic CEO. In March 2000, it was the most valuable company in the world. When Cisco’s stock plummeted 80% the following year, the journalists changed their tune. Suddenly the company’s competitive advantages were reframed as destructive shortcomings: poor customer service, a woolly strategy, clumsy acquisitions, a lame corporate culture and an insipid CEO. All this – and yet neither the strategy nor the CEO had changed. What had changed, in the wake of the dot-com crash, was demand for Cisco’s product – and that was through no fault of the firm. The halo effect occurs when a single aspect dazzles us and affects how we see the full picture. In the case of Cisco, its halo shone particularly bright. Journalists were astounded by its stock prices and assumed the entire business was just as brilliant – without making closer investigation. The halo effect always works the same way: we take a simple-to-obtain or remarkable fact or detail, such as a company’s financial situation, and extrapolate conclusions from there that are harder to nail down, such as the merit of its management or the feasibility of its strategy. We often ascribe success and superiority where little is due, such as when we favour products from a manufacturer simply because of its good reputation. Another example of the halo effect: we believe that CEOs who are successful in one industry will thrive in any sector – and furthermore that they are heroes in their private lives, too.
Rolf Dobelli (The Art of Thinking Clearly: The Secrets of Perfect Decision-Making)
We can also increase the perceived long term value by the way we describe our emails. Nowadays many businesses mention a newsletter on their website, but the phrase ‘newsletter’ doesn’t have any implied value in it. In fact the word ‘news’ is probably something you don’t want to hear from a potential supplier. Who cares whether Mary in accounts has had a birthday? What you would like to get is useful, valuable information. So instead of calling it an email newsletter, I call mine ‘client winning tips via email’. Or you could call it a ‘divorce survival bulletin’. Or ‘the cash flow accelerator emails’ or ‘tax cutting tips’. Each of these names implies some kind of value or outcome your potential subscribers will get from your emails. To come up with a good name, go back to your customer insight map for your ideal clients and look at the big problems, challenges, goals and aspirations your clients have. If you can name your emails to relate to those big goals and problems then they’re likely to see they’ll get value by subscribing to them.
Ian Brodie (Email Persuasion: Captivate and Engage Your Audience, Build Authority and Generate More Sales With Email Marketing)
Who Do You Want Your Customers to Become' was published... in 2012. Its essential insight is that innovation is an investment in the human capital, capabilities, and competencies of customers and clients. Business history gives great credence to this “human capital” model of innovation. For example, George Eastman didn't just invent cheap cameras and film; he created photographers. Steve Jobs didn't merely “reinvent” personal computing and mobile telephony; he reinvented how people physically touched and talked with their technologies. Successful innovators have a “vision of the customer future” that matters every bit as much as their product or service vision. By treating innovation as an investment in customer futures, organizations can make their customers more valuable. In other words, “Making Customers Better Makes Better Customers".
Michael Schrage (The Innovator's Hypothesis: How Cheap Experiments Are Worth More Than Good Ideas)
Who Do You Want Your Customers to Become was published... in 2012. Its essential insight is that innovation is an investment in the human capital, capabilities, and competencies of customers and clients. Business history gives great credence to this “human capital” model of innovation. For example, George Eastman didn't just invent cheap cameras and film; he created photographers. Steve Jobs didn't merely “reinvent” personal computing and mobile telephony; he reinvented how people physically touched and talked with their technologies. Successful innovators have a “vision of the customer future” that matters every bit as much as their product or service vision. By treating innovation as an investment in customer futures, organizations can make their customers more valuable. In other words, “Making Customers Better Makes Better Customers.
Michael Schrage (The Innovator's Hypothesis: How Cheap Experiments Are Worth More Than Good Ideas)
Let’s look at the case of Opsware. Why did I sell Opsware? Another good question is why didn’t I sell Opsware until I did? At Opsware, we started in the server automation market. When we received our first inquiries and offers for the server automation company, we had fewer than fifty customers. I believed that there were at least ten thousand target customers and that we had a decent shot at being number one. In addition, although I knew the market would be redefined, I thought that we could expand to networks and storage (data center automation) faster than the competition and win that market as well. Therefore, assuming 30 percent market share, somebody would have had to pay sixty times what we were worth in forward credit to buy out our potential. You won’t be surprised to find that nobody was willing to pay that. Once we grew to several hundred customers and expanded into data center automation, we were still number one and were more valuable stand-alone than any of the prior acquisition offers. At that point both Opsware and our main competitor, BladeLogic, had developed into full-fledged companies (worldwide sales forces, built-out professional services, etc.). This was significant, because it meant that a large company could buy one of us and potentially execute successfully (big enterprise companies can’t generally succeed with small acquisitions, because too much of the important intellectual property is the sales methodology, and big companies can’t build that).
Ben Horowitz (The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers)
Today successful companies start with the customer. They recognize that customers spend their time across many channels, and wherever those customers are, that’s where they should be meeting their customers’ needs. And the more information you can learn about the customer, the better you can serve their needs, and the more valuable the relationship becomes. That’s digital transformation: from linear transactional channels to a circular, dynamic relationship with your subscriber.
Tien Tzuo (Subscribed: Why the Subscription Model Will Be Your Company's Future - and What to Do About It)
Brian Chesky sends to all Airbnb employees is a powerful one. “You have to continue to repeat things” Brian told our class at Stanford. “Culture is about repeating, over and over again, the things that really matter for your company.” Airbnb reinforces these verbal messages with visual impact as well. Brian hired an artist from Pixar to create a storyboard of the entire experience of an Airbnb guest, from start to finish, emphasizing the customer-centered design thinking that is a hallmark of its culture. Even Airbnb conference rooms tell a story; each one is a replica of a room that’s available for rent on the service. Every time Airbnb team members hold a meeting in one of those rooms, they are reminded of how guests feel when they stay there. At Amazon, Jeff Bezos famously bans PowerPoint decks and insists on written memos, which are read in silence at the beginning of each meeting. This memo policy is one of the ways that Amazon encourages a culture of truth telling. Memos have to be specific and comprehensive, and those who read the memos have to respond in kind rather than simply sit through some broad bullet points on a PowerPoint deck and nod vague agreement. Bezos believes that memos encourage smarter questions and deeper thinking. Plus, because they’re self-contained (rather than requiring a person to present a deck), they are more easily distributed and consumed by a wider population within Amazon. The late Steve Jobs used architecture as a core part of his deliberate communications strategy at Pixar. He designed Pixar headquarters so that the front doors, main stairs, main theater, and screening rooms all led to the atrium, which contained the café and mailboxes, ensuring that employees from all departments and specialties would see people from other groups on a regular basis, thus reinforcing Pixar’s collaborative, inclusive culture.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
In the words of leadership guru Marshall Goldsmith, “What got you here won’t get you there.” Market share and revenue growth earn headlines, but you can’t achieve customer and revenue scale without scaling up your organization, in terms of the size and scope of your staff, as well as your financial, product, and technology strategy. If the organization doesn’t grow in lockstep with its revenues and customer base, things can quickly spiral out of control. For example, during a period of blitzscaling in the late 1980s and early 1990s, Oracle Corporation focused so single-mindedly on sales growth that its organization lagged badly on both technology (where it fell behind archrival Sybase’s) and finance and nearly went bankrupt as a result. It took the turnaround efforts of Ray Lane and Jeff Henley to stave off disaster and reposition Oracle for its later success.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
This is what happened when I cofounded LinkedIn. The key business model innovations for LinkedIn, including the two-way nature of the relationships and filling professionals’ need for a business-oriented online identity, didn’t just happen organically. They were the result of much thought and reflection, and I drew on the experiences I had when founding SocialNet, one of the first online social networks, nearly a decade before the creation of LinkedIn. But life isn’t always so neat. Many companies, even famous and successful ones, have to develop their business model innovation after they have already commenced operations. PayPal didn’t have a business model when it began operations (I was a key member of the PayPal executive team). We were growing exponentially, at 5 percent per day, and we were losing money on every single transaction we processed. The funny thing is that some of our critics called us insane for paying customers bonuses to refer their friends. Those referral bonuses were actually brilliant, because their cost was so much lower than the standard cost of acquiring new financial services customers via advertising. (We’ll discuss the power and importance of this kind of viral marketing later on.) The insanity, in fact, was that we were allowing our users to accept credit card payments, sticking PayPal with the cost of paying 3 percent of each transaction to the credit card processors, while charging our users nothing. I remember once telling my old college friend and PayPal cofounder/ CEO Peter Thiel, “Peter, if you and I were standing on the roof of our office and throwing stacks of hundred-dollar bills off the edge as fast as our arms could go, we still wouldn’t be losing money as quickly as we are right now.” We ended up solving the problem by charging businesses to accept payments, much as the credit card processors did, but funding those payments using automated clearinghouse (ACH) bank transactions, which cost a fraction of the charges associated with the credit card networks. But if we had waited until we had solved this problem before blitzscaling, I suspect we wouldn’t have become the market leader.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
I am fond of pointing out to entrepreneurs and executives that “in theory, you don’t need practice.” What I mean is that no matter how brilliant your business model and growth strategy, you won’t be able to build a real-world (i.e., non-theoretical) blockbuster company without a lot of practice. But that problem is magnified when you’re trying to blitzscale. The kind of growth involved in blitzscaling typically means major human resources challenges. Tripling the number of employees each year isn’t uncommon for a blitzscaling company. This requires a radically different approach to management than that of a typical growth company, which would be happy to grow 15 percent per year and can take time finding a few perfect hires and obsessing about corporate culture. As we will discuss in more detail later in the book, companies that blitzscale have to rapidly navigate a set of key transitions as their organizations grow, and have to embrace counterintuitive rules like hiring “good enough” people, launching flawed and imperfect products, letting fires burn, and ignoring angry customers. Over the course of this book, we’ll see how business model, growth strategy, and management innovation work together to form the high-risk, high-reward process of blitzscaling.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Harvard Business School professor and author Clay Christensen believes that you need to focus on the concept of the “job-to-be-done”; that is, when a customer buys a product, she is “hiring” it to do a particular job. Then there’s Brian Chesky of Airbnb, who said simply, “Build a product people love. Hire amazing people. What else is there to do? Everything else is fake work.” As Andrea Ovans aptly put it in her January 2015 Harvard Business Review article, “What Is a Business Model?”, it’s enough to make your head swim! For the purposes of this book, we’ll focus on the basic definition: a company’s business model describes how it generates financial returns by producing, selling, and supporting its products. What sets companies like Amazon, Google, and Facebook apart, even from other successful high-tech companies, is that they have consistently been able to design and execute business models with characteristics that allow them to quickly achieve massive scale and sustainable competitive advantage. Of course, there isn’t a single perfect business model that works for every company, and trying to find one is a waste of time. But most great business models have certain characteristics in common. If you want to find your best business model, you should try to design one that maximizes four key growth factors and minimizes two key growth limiters.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Slack had spent nearly five years and $ 17 million on development prior to its public launch in February 2014. Just two months later, before the end of April, it had raised another $ 43 million. Both of these investments took place before Slack had proven its revenue model and started generating significant sales. Slack’s freemium business model (offering a free service and encouraging users to upgrade later to becoming paying customers) meant that even after two months of rapid user growth, the company hadn’t proven its ability to make money. Fortunately for Slack and its investors, this aggressiveness paid off. As the initial wave of free users started converting to paid, Slack was able to raise an additional $ 120 million six months later to accelerate its growth even further.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Realize that your product is a valuable gift to your customers and that you are providing the noble service of helping them see that value.
George Silverman (The Secrets of Word-of-Mouth Marketing: How to Trigger Exponential Sales Through Runaway Word of Mouth)
The David Dao incident is a classic example of how a poor articulation of company values can weaken the culture. The employees on the ground believed they needed to bump passengers from the flight so that United could get another flight crew to their plane (i.e., “flying right”) and that meeting metrics such as on-time departures and flight cancellations was more important than treating customers with “respect and dignity” (which most of us would agree does not include breaking their noses and knocking out their teeth). In contrast, Southwest Airlines is not only clear about its company values but makes them the emphasis of hiring and management. The mentality isn’t: “We’ll know it when we see it.” Instead, it is: “Does this person already live the way we do?” The company uses behavioral interview questions to determine whether candidates are a cultural fit. For example, to determine someone’s ability to be a selfless team player, they might ask her to describe a time when she went above and beyond to help a coworker succeed. The airline acknowledges that certain positions call for specific skill sets. As Southwest puts it, “We’re not going to hire a pilot who has a great attitude but can’t fly a plane!” But, when it comes down to two equally qualified candidates, the one who lives Southwest’s values receives the offer. And, even when Southwest finds a qualified candidate who doesn’t have the right values, it will keep looking until it finds someone who does—no matter how long the job has gone unfilled.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
The equivalent to AWS on the hardware side is China. Hardware start-ups are able to manage infrastructure limitations and scale much more quickly by tapping into Chinese manufacturing capabilities, either directly or by working with companies like the custom manufacturing design firm PCH. The smart thermostat maker Nest, for example, had only 130 employees when it was acquired by Google for $ 3 billion, largely because it had outsourced all of its manufacturing to China. In contrast, Tesla Motors has seen its growth held back by infrastructure limitations. Due to the complexities of its manufacturing process, Tesla’s production rates have lagged behind those of other automakers, the result being that its award-winning vehicles are almost always sold out, with back orders measured in months and even years. Demand generation is not a problem for Tesla; meeting that demand is.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Moreover, Netflix produces exactly what it knows its customers want based on their past viewing habits, eliminating the waste of all those pilots, and only loses customers when they make a proactive decision to cancel their subscription. The more a person uses Netflix, the better Netflix gets at providing exactly what that person wants. And increasingly, what people want is the original content that is exclusive to Netflix. The legendary screenwriter William Goldman famously wrote of Hollywood, “Nobody knows anything.” To which Reed Hastings replies, “Netflix does.” And all this came about because Hastings had the insight and persistence to wait nearly a decade for Moore’s Law to turn his long-term vision from an impossible pipe dream into one of the most successful media companies in history. Moore’s Law has worked its magic many other times, enabling new technologies ranging from computer animation (Pixar) to online file storage (Dropbox) to smartphones (Apple). Each of those technologies followed the same path from pipe dream to world-conquering reality, all driven by Gordon Moore’s 1965 insight.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Customers or shoppers, they love buying as much as they want without thinking about going out of cash. The thought of scarcity of funds annoys them to the core and often spoils their made to a point where they no longer are interested in making the purchase. Though this doesn’t harm them in anyway because they can buy the needed product/service later but this changed attitude of them costs high to the business that loses a valuable customer and an important sale. Credit Card Processing: Never Lose Upon A Consumer If you are limited to the traditional era of accepting cash, the above explained scenario can become a reality for you if not today then tomorrow. However, to stay away from this disappointment, credit card processing can be used to the fullest extent. As shoppers are interested in paying via credit card, a business can entice them by accepting card payment. Talking exclusively about the small businesses that are particular about everything, pulling impressive customers through credit card processing for small business totally makes sense. Not only it appeals to the needs of the customers but also lets the business stay active 24/7. In other words, sales remain on without any break and revenue can be generated even when official business hours are closed. Benefits To Catch Up With • Boost in sales • Encouraging customers for impulse buying • Legitimizing the business • Improvement in cash flow • No risk of dealing with bad checks • Inexpensive business expense • Getting started is quick & easy • Multiple currencies can be accepted • Needs of customers can be catered no matter where they are located These advantages are seriously wonderful to take a small business forward and give it the needed recognition on global level. Accepting cash payment is soon going to become thing of the past as credit card processing and mobile payment processing are the new mates businesses are interested in joining hands with. Hence, start with these services before your customers find comfort in arms of your competitor’s business.
Emma Megan
Value-grade or value-grading is a term I coined to describe the hierarchy of value that entrepreneurs offer to customers.
Richie Norton
if the fires at your start-up are burning money but not touching the customer, and if you’re able to afford the waste, you might be able to literally buy time and ignore them.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
Joseph Pine and James Gilmore describe this as “The Experience Economy” (Pine & Gilmore, 1999). Functionality and usability are not enough in our lives; they have become to be expected as a baseline. What customers are looking for are emotional bonds and experiences. Experiences are now a valuable differentiator and not only offer a pleasurable service experience, they help us create and express our identities. Several
Marc Stickdorn (This is Service Design Thinking: Basics - Tools - Cases)
We’re all “storytellers.” We don’t call ourselves storytellers, but it’s what we do every day. Although we’ve been sharing stories for thousands of years, the skills we needed to succeed in the industrial age were very different from those required today. The ability to sell our ideas in the form of story is more important than ever. Ideas are the currency of the twenty-first century. In the information age, the knowledge economy, you are only as valuable as your ideas. Story is the means by which we transfer those ideas to one another. Your ability to package your ideas with emotion, context, and relevancy is the one skill that will make you more valuable in the next decade. Storytelling is the act of framing an idea as a narrative to inform, illuminate, and inspire. The Storyteller’s Secret is about the stories you tell to advance your career, build a company, pitch an idea, and to take your dreams from imagination to reality. When you pitch your product or service to a new customer, you’re telling a story. When you deliver instructions to a team or educate a class, you’re telling a story. When you build a PowerPoint presentation for your next sales meeting, you’re telling a story. When you sit down for a job interview and the recruiter asks about your previous experience, you’re telling a story. When you craft an e-mail, write a blog or Facebook post, or record a video for your company’s YouTube channel, you’re telling a story. But there’s a difference between a story, a good story, and a transformative story that builds trust, boosts sales, and inspires people to dream bigger.
Carmine Gallo (The Storyteller's Secret: From TED Speakers to Business Legends, Why Some Ideas Catch On and Others Don't)
A production line with high levels of model variety is more valuable when combined with an inventory and order processing system that minimizes the need for stocking finished goods, a sales process equipped to explain and encourage customization, and an advertising theme that stresses the benefits of product variations that meet a customer’s special needs.
Michael E. Porter (HBR's 10 Must Reads on Strategy)
As discussed in Chapter 2, data gathered from A/B tests by Ronny Kohavi, who directed Amazon’s Data Mining and Personalization group before joining Microsoft as General Manager of its Experimentation Platform, reveal that 60%–90% of ideas do not improve the metric they were intended to improve. Thus if we’re not running experiments to test the value of new ideas before completely developing them, the chances are that about 2/3 of the work we are doing is of either zero or negative value to our customers — and certainly of negative value to our organization, since this work costs us in three ways. In addition to the cost of developing the features, there is an opportunity cost associated with more valuable work we could have done instead, and the cost of the new complexity they add to our systems (which manifests itself as the cost of maintaining the code, a drag on the rate at which we can develop new functionality, and often, reduced operational stability and performance).
Jez Humble (Lean Enterprise: How High Performance Organizations Innovate at Scale (Lean (O'Reilly)))
I am excited!  I stay focused on all the good things I have to be excited about.  I am excited about my career, my opportunities and my challenges.  My excitement drives me to do everything with energy and enthusiasm.  My mind is focused fully on what I am doing and I am able to get things done by telling myself to “DO IT NOW”.  I am excited and act enthusiastic and everyone around me catches it.  Every time I see someone I know or meet someone new I am excited and enthusiastic about seeing them.  By being enthusiastic, excited and full of energy I am a more valuable person.  Energy and enthusiasm guarantees my success as a highly paid professional sales person.  Energy, passion and enthusiasm will attract customers and sales to me.  This energy will be like a magnet and attract bigger customers and larger commissions to me.  I am going to give everything I have to everything I do.
Bob Oros (29 Reasons You Don't Make the Sale and a Solution for All of Them)
Take steps to be humble, sincere, and authentic, and apologize if necessary. If a relationship is valuable to you, it is worth your concern and effort to make it right.
Susan C. Young (The Art of Connection: 8 Ways to Enrich Rapport & Kinship for Positive Impact (The Art of First Impressions for Positive Impact, #6))
Know Singapore’s Credit Bureau to Get License Money Lender Approval Do you ever wonder how a licensed money lender like banks get the information they need to decide whether they will approve your loan or not? In this article, you’ll know the Credit Bureau Singapore (CBS) role on the moneylenders’ process of lending money. History of CBS Association of Banks in Singapore (ABS) and DBIC Holdings owns CBS. It was founded on November 15, 2002, and its key role is to serve as a financial risk management tool for financial institutions. Among CBS founders’ are Citibank, United Overseas Bank (UOB), Development Bank of Singapore (DBS), Oversea-Chinese Banking Corporation (OCBC), American Express, ANZ, Maybank, HSBC and Standard Chartered Bank. Key Role of CBS on Licensed Money Lender Loan Approval The CBS is a private company established to help financial companies and credit card institutions to evaluate the threats and opportunities of giving credit to possible or current customers. To put simply, when you apply for a loan, the CBS gives the licensed moneylender your credit report. This credit report reflects your credit information such as credit history, repayment track, and in some cases default records, lawsuit, and bankruptcy reports. This valuable information is collected from financial institutions and other public data resources (like subpoena and data of bankruptcy) which is part of CBS. The Banking Act allows the CB to get such customer’s confidential data and produce a “complete risk profile.” CBS follows a stringent code of conduct to protect the consumer’s data privacy. Only the official members of CBS can access and use the credit information. Licensed money lender should not disclose any information about their clients’ credit background to any third party. The CB also cannot collect customer’s personal data such as contact numbers, home address, credit limit, and salary. Now that you finally know who helps licensed money lender to decide your loan’s approval, you should now know that borrowing money is not as simple as it sounds. Multiple agencies are working together to check whether you are worthy of the money.
Michael Arnold
Know Singapore’s Credit Bureau to Get License Money Lender Approval Do you ever wonder how a licensed money lender like banks get the information they need to decide whether they will approve your loan or not? In this article, you’ll know the Credit Bureau Singapore (CBS) role on the moneylenders’ process of lending money. History of CBS Association of Banks in Singapore (ABS) and DBIC Holdings owns CBS. It was founded on November 15, 2002, and its key role is to serve as a financial risk management tool for financial institutions. Among CBS founders’ are Citibank, United Overseas Bank (UOB), Development Bank of Singapore (DBS), Oversea-Chinese Banking Corporation (OCBC), American Express, ANZ, Maybank, HSBC and Standard Chartered Bank. Key Role of CBS on Licensed Money Lender Loan Approval The CBS is a private company established to help financial companies and credit card institutions to evaluate the threats and opportunities of giving credit to possible or current customers. To put simply, when you apply for a loan, the CBS gives the licensed moneylender your credit report. This credit report reflects your credit information such as credit history, repayment track, and in some cases default records, lawsuit, and bankruptcy reports. This valuable information is collected from financial institutions and other public data resources (like subpoena and data of bankruptcy) which is part of CBS. The Banking Act allows the CB to get such customer’s confidential data and produce a “complete risk profile.” CBS follows a stringent code of conduct to protect the consumer’s data privacy. Only the official members of CBS can access and use the credit information. Licensed money lender should not disclose any information about their clients’ credit background to any third party. The CB also cannot collect customer’s personal data such as contact numbers, home address, credit limit, and salary. Now that you finally know who helps licensed money lender to decide your loan’s approval, you should now know that borrowing money is not as simple as it sounds. Multiple agencies are working together to check whether you are worthy of the money.
Credit and Debt
committed a small oversight, and yet one that almost destroyed their venture. They had assumed that they would deliver the kerosene in bulk to various localities, and that the eager customers would line up with their own receptacles to be filled. The customers were expected to use old Standard Oil tin cans. But they did not. Throughout the Far East, Standard’s blue oil tins had become a prized mainstay of the local economies, used to construct everything from roofing to birdcages to opium cups, hibachis, tea strainers, and egg beaters. They were not about to give up such a valuable product. The whole scheme was now threatened—not by the machinations of 26 Broadway or by the politics of the Suez Canal, but by the habits and predilections of the peoples of Asia. A local crisis was created in each port, as the kerosene went unsold, and despairing telegrams began to flow into Houndsditch. In the quickness and ingenuity of his response to the crisis, Marcus proved his entrepreneurial genius. He sent out a chartered ship, filled with tinplate, to the Far East, and simply instructed his partners in Asia to begin manufacturing tin receptacles for the kerosene. No matter that no one knew how to do so; no matter that no one had the facilities. Marcus persuaded them they could do it. “How do you stick on the wire handles?” the agent in Singapore wrote to Samuel’s representative in Japan. Instructions were sent. “What color do you suggest?” cabled the agent in Shanghai. Mark gave the answer—“Red!
Daniel Yergin (The Prize: The Epic Quest for Oil, Money, and Power)
Some areas of opportunity: •   First, stop saying, “Well, this is just the way it is in our industry.” •   Have your available cash reported DAILY, with a short explanation of why it changed in the last 24 hours, and chart it against accounts receivable (AR) and accounts payable (AP) weekly. You’ll learn so much more about your business when you see how the cash is flowing on a daily basis. •   If you want to be paid sooner, ask. Small firms are finding that large companies (and governments!!) will pay considerably faster or even prepay if they simply ask, ask, ask, ask, and ask some more. •   Give value back to customers who pay on time or in advance. •   Get your invoices out more quickly. Hire one more person in accounting to do nothing but make sure invoicing is timely and follow up on payments. •   Send friendly reminders five days before the deadline that payments are due. Many customers are disorganized and will appreciate the reminders, resulting in faster payment. •   If invoices are recurring, obtain recurring credit card authorization from your customers to automate on-time payments. •   Understand why your clients are paying late. They might be unhappy with your product or service. Or perhaps an invoice has recurring mistakes, or it is not structured to flow through the customer’s automated invoicing system. •   Understand each customer’s payment cycles, and time your billings to coincide. •   Pay many of your own expenses with a credit card so you can play the float. Get your own customers to pay by credit card, so they can pay you quickly even if their cash flow is slow. •   Help your customers improve their cash flow so they can pay you on time. Offer them leasing options, for instance. •   Shorten cycles for delivery of your product or service. All of you have some kind of “work in progress.” The faster you complete projects, the faster you get paid. •   Offer a product or service so valuable that you have some leverage with your customers to get them to pay sooner. • Remember, improving margins and profit improves cash.
Verne Harnish (Scaling Up: How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0))
The biggest missed opportunity in development is that organizations don’t think about their customers as valuable, productive assets in the delivery of a service, but as anonymous consumers of products.
Andy Polaine (Service Design: From Insight to Implementation)
Many of us don’t find ourselves comfortable cross-selling another product or service. The thought that we are selfish and are motivated by money creeps in. When that happens, you have to look at the entire scenario from a different perspective. Your recommendations can help in taking the load off your customers’ shoulders and saving them valuable time.
Pooja Agnihotri (The Art of Running a Successful Wedding Services Business: The Missing Puzzle Piece You’re Looking For)
Solvay Business School Professor Paul Verdin and I developed a perspective that frames an organization's strategy as a hypothesis rather than a plan.62 Like all hypotheses, it starts with situation assessment and analysis –strategy's classic tools. Also, like all hypotheses, it must be tested through action. When strategy is seen as a hypothesis to be continually tested, encounters with customers provide valuable data of ongoing interest to senior executives.
Amy C. Edmondson (The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation, and Growth)
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MIKIGE P
Mabel was well over a foot shorter than Jay. At the bakery Christmas party, she'd glanced with loathing at the limbo pole, walked straight underneath it, and headed for the bar. She still managed to look down her nose at him now. "Valuable life lesson. If you feel comfortable shoveling handfuls of stolen sweets into your pockets, I might feel comfortable shoveling you headfirst into a pipe." Jay raised his brows at Sylvie. "Have we considered moving Mabel's workstation so she's slightly farther away from the paying customers? Perhaps about"---he made a pinching motion with his finger and thumb--- "two post codes to the left?" "Have we considered getting a haircut, so we look slightly less like an aging rockstar?" Mabel asked conversationally. "It's swell of you to take over potions class while Sylvie's back on telly, Axl Rose, but you don't have to go full wizard cosplay.
Lucy Parker (Battle Royal (Palace Insiders, #1))
The value you provide to people is what makes you valuable.
Aiyaz Uddin
Direct response marketing is designed to evoke an immediate response and compel prospects to take some specific action, such as opting in to your email list, picking up the phone and calling for more information, placing an order or being directed to a web page. So what makes a direct response ad? Here are some of the main characteristics: It’s trackable. That is, when someone responds, you know which ad and which media was responsible for generating the response. This is in direct contrast to mass media or “brand” marketing—no one will ever know what ad compelled you to buy that can of Coke; heck you may not even know yourself. It’s measurable. Since you know which ads are being responded to and how many sales you’ve received from each one, you can measure exactly how effective each ad is. You then drop or change ads that are not giving you a return on investment. It uses compelling headlines and sales copy. Direct response marketing has a compelling message of strong interest to your chosen prospects. It uses attention-grabbing headlines with strong sales copy that is “salesmanship in print.” Often the ad looks more like an editorial than an ad (hence making it at least three times more likely to get read). It targets a specific audience or niche. Prospects within specific verticals, geographic zones or niche markets are targeted. The ad aims to appeal to a narrow target market. It makes a specific offer. Usually, the ad makes a specific value-packed offer. Often the aim is not necessarily to sell anything from the ad but to simply get the prospect to take the next action, such as requesting a free report. The offer focuses on the prospect rather than on the advertiser and talks about the prospect’s interests, desires, fears, and frustrations. By contrast, mass media or “brand” marketing has a broad, one-size-fits-all marketing message and is focused on the advertiser. It demands a response. Direct response advertising has a “call to action,” compelling the prospect to do something specific. It also includes a means of response and “capture” of these responses. Interested, high-probability prospects have easy ways to respond, such as a regular phone number, a free recorded message line, a website, a fax back form, a reply card or coupons. When the prospect responds, as much of the person’s contact information as possible is captured so that they can be contacted beyond the initial response. It includes multi-step, short-term follow-up. In exchange for capturing the prospect’s details, valuable education and information on the prospect’s problem is offered. The information should carry with it a second “irresistible offer”—tied to whatever next step you want the prospect to take, such as calling to schedule an appointment or coming into the showroom or store. Then a series of follow-up “touches” via different media such as mail, email, fax and phone are made. Often there is a time or quantity limit on the offer.
Allan Dib (The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd)
Content Marketing Mastery: How to Create and Promote Valuable Content Content marketing mastery refers to the advanced level of expertise and skill in creating, distributing, and managing content to attract, engage, and convert a target audience. Content marketing is a strategic marketing approach that focuses on creating valuable, relevant, and consistent content to establish and strengthen a brand's presence, build trust with the audience, and ultimately drive profitable customer actions. Content marketing is an ongoing process, and achieving mastery requires continuous learning, testing, and optimization. By consistently delivering valuable content that resonates with your target audience, you can establish a strong online presence and drive business success.
comstat
A company can sustain a premium price only if it offers something that is both unique and valuable to its customers. Apple’s hot, must-have gadgets have commanded premium prices. Ditto for the high-speed Madrid-to-Barcelona train and the trucks Paccar creates for owner-operators. Create more buyer value and you raise what economists call willingness to pay (WTP), the mechanism that makes it possible for a company to charge a higher price relative to rival offerings.
Joan Magretta (Understanding Michael Porter: The Essential Guide to Competition and Strategy)
where a = accumulated future value, p = principal or present value, r = rate of return in percentage terms, and n = number of compounding periods. All too often, management teams focus on the r variable in this equation. They seek instant gratification, with high profit margins and high growth in reported earnings per share (EPS) in the near term, as opposed to initiatives that would lead to a much more valuable business many years down the line. This causes many management teams to pass on investments that would create long-term value but would cause “accounting numbers” to look bad in the short term. Pressure from analysts can inadvertently incentivize companies to make as much money as possible off their present customers to report good quarterly numbers, instead of offering a fair price that creates enduring goodwill and a long-term win–win relationship for all stakeholders. The businesses that buy commodities and sell brands and have strong pricing power (typically depicted by high gross margins) should always remember that possessing pricing power is like having access to a large amount of credit. You may have it in abundance, but you must use it sparingly. Having pricing power doesn’t mean you exercise it right away. Consumer surplus is a great strategy, especially for subscription-based business models in which management should primarily focus on habit formation and making renewals a no-brainer. Most businesses fail to appreciate this delicate trade-off between high short-term profitability and the longevity accorded to the business through disciplined pricing and offering great customer value. The few businesses that do understand this trade-off always display “pain today, gain tomorrow” thinking in their daily decisions.
Gautam Baid (The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series))
The features of our product and the value they provide are only unique, interesting and valuable when a customer perceives them in relation to alternatives.
April Dunford (Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It)
Moving from “features” to “benefits” and then to “value” often confuses people, particularly folks who come from a technical background. An engineer by training, I often viewed features and the benefits derived from those features as interchangeable early in my career. For many consumer technical products, features are presented as valuable in their own right—but only because we do the translation to value automatically in our heads. For example, phone makers have often represented the quality of their cameras by talking about the number of megapixels. Consumers have been trained to translate megapixels to photo quality and therefore believe that cameras with more megapixels take better photos. Digging a bit deeper, the value of “better photos” for most consumers means sharper, more detailed images when printed or zoomed in.
April Dunford (Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It)
In a country so distant, so naturally poor, more impoverished by misgovernment and internal discord, and the meddling of a powerful and grasping neighbour, we must not look for the extended dealings that dignify trade, nor for the refinement, luxury, art, which adorned the free cities of the Continent. Instead of these we may find something even more valuable, if we are able to trace to our free institutions, and to the burgh life that glowed from them, a sturdy independence and self-reliance, honest frugality, a respect for law and order, and an intelligent love of education, somewhat above our neighbours, which, I hope, still mark our nation. In the early literature of Scotland we have a worthy reflection of her history. Her first poet sung the achievements of Bruce. Her greatest satirist aimed his shafts at the corruptions of Rome. In the homely burghs of Scotland we may find the first spring of that public spirit, the voice of the people, which in the worst of times, when the crown and the law were powerless, and the feudal aristocracy altogether selfish in its views, supported the patriot leaders Wallace and Bruce in their desperate struggle, and sent down that tide of native feeling which animated Burns and Scott, and which is not yet dead, however much it may be endangered by the childish follies of its quixotic champions. Whatever of thought, of enterprise, of public feeling, appears in our poor history, took rise in our burghs, and among the burgess class.
Cosmo Innes (Ancient Laws and Customs of the Burghs of Scotland, Volume I)
Even a world-class product, poorly positioned, can fail. In the context of a concert hall, Bell is perceived as producing something that is very valuable. He’s dressed to perform. He’s surrounded by an orchestra on a beautiful stage. The program tells people what awards he has won. Whereas, when he’s playing outside a subway station, everything around him has changed. He’s dressed like a street performer and standing beside a garbage can, playing for tips. His product—the music—hasn’t changed, but in this context, few people recognize its value.
April Dunford (Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It)
results in the prospect buying from you for the first time. Example: Tom gets a lot of value from the report he downloaded. It has some genuinely good tips that he didn’t previously know and implementing them has saved him a lot of time. In addition, the IT company that wrote the report has been emailing him additional valuable tips and information and offers Tom a free twenty-one-point IT audit for his business. Tom takes them up on this offer. The audit is thorough and professional and reveals to Tom that his IT systems are vulnerable because a lot of the software on his computers is out of date.
Allan Dib (The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd)
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The best on horses you think will lose are a valuable "insurance policy." When rare disaster strikes, you'll be glad you had the insurance. 71 The exponential growth of wealth in the Kelly system is also a consequence of proportional betting. As the bankroll grows, make larger bets. 98 [2 questions are central to John Kelly's analysis] What level of risk will lead to the highest long-run return? What is the chance of losing everything? 286 As Fred Schwed, Jr. author of Where are the Customer's Yatchs? put it back in 1940, "Like all of life's rich emotional experiences, the full flavor of losing important money cannot be conveyed in literature." 304 Claude Shannon: A smart investor should understand where he has an edge and invest only in those opportunities. 308 The longer you hold a stock, the harder it is to beat the market by much. 316
William Poundstone (Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street)
Great, impactful companies are not focused on a three-to-five-year time horizon. When done right, they make investments in culture and community and brand and trust that have indefinite life to them. No investor will have an issue with an indefinite life; what is challenging is that the investments aren’t quick. They are persistent and require repeated doubling down. Trust and brand are not created in a year or two. They are created through repeated commitment to core values, a commitment that, if it is to be valuable and meaningful, is challenging. Often the most valuable and important investments in these things are made when performance is actually below target and the business is struggling. This is when real character is built, both with employees and with customers. The stories that come out of such investments persist over many years. And unfortunately, trust and brand can be damaged very quickly so constant, intentional focus from leadership is a must, regardless of how the business is performing.
Greg Harmeyer (Impact with Love: Building Business for a Better World)
are valuable (our customers will buy the product and/or choose to use it), and viable (it will meet the needs of the business). Together with a product designer who is responsible for ensuring the solution is usable, and a tech lead who is responsible for ensuring the solution is feasible, the team is able to collaborate to address this full range of risks (value, viability, usability, and feasibility). Together, they own the problem and are responsible and accountable for the results.2
Marty Cagan (Empowered: Ordinary People, Extraordinary Products)