Number of words: 216 There is a big difference between repeat business and loyalty. Repeat business is when people do business with you multiple times. Loyalty is when people are willing to turn down a better product or a better price to continue doing business with you. Loyal customers often don’t even bother to research … Read more
Number of words: 508 In the 1970s, there were only two types of Colgate toothpaste. But as competition increased, Colgate’s sales started to slip. So the company introduced a new product that included a new feature, the addition of fluoride, perhaps. Then another. Then another. Whitening. Tartar control. Sparkles. Stripes. Each innovation certainly helped boost … Read more
Number of words: 226 Though positive in nature, aspirational messages are most effective with those who lack discipline or have a nagging fear or insecurity that they don’t have the ability to achieve their dreams on their own (which, at various times for various reasons, is everyone). I always joke that you can get someone … Read more
Number of words: 340 Many companies are reluctant to play the price game, but they do so because they know it is effective. So effective, in fact, that the temptation can sometimes be overwhelming. There are few professional services firms that, when faced with an opportunity to land a big piece of business, haven’t just … Read more
Number of words: 251 There is a wonderful story of a group of American car executives who went to Japan to see a Japanese assembly line. At the end of the line, the doors were put on the hinges, the same as in America. But something was missing. In the United States, a line worker … Read more
Number of words: 306 On a cold January day, a forty-three-year-old man was sworn in as the chief executive of his country. By his side stood his predecessor, a famous general who, fifteen years earlier, had commanded his nation’s armed forces in a war that resulted in the defeat of Germany. The young leader was … Read more
Number of words: 153 In a world in which so many messages are being sent to consumers in so many different ways, in a world of hurry up sound bites, I must now admit that flash is the magical substance that can cut through all the mush and send the clearest message. Richard Branson is … Read more
Number of words: 276 We agreed, at the beginning, that we would keep this alliance as simple as possible. There were no big teams of international lawyers involved. Partners in the alliance signed a five page agreement. The alliance airlines are not handcuffed to one another. If they find over time that they are not … Read more
Number of words: 166 The people who run corporations spend too much time paying too much attention to the wrong things. In virtually every company that I have worked with for over four decades, I have seen executives spending just about all of their time on operations, on questions about producing a product or providing … Read more
Number of words: 183 Soldiers don’t think of themselves – and risk their lives – as part of a huge army; they do that for people they know who deserve their trust and loyalty, people who depend on them, commonly a group no larger than an infantry squad. No matter how big your company is, … Read more
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