Remember the soup nazi in the Jerry Seinfeld television series? His soups were so good that he could dictate who he would serve and who he would send away. He owned that market. He didn’t have to listen to what his customers said – they bought what he sold.
Fast forward to 2008. General Motors, Ford, Chrysler were making cars that few were buying. An economic recession reminded them that the products they make must meet the needs, values and interests of those they hope to sell to. So if you don’t want to make a car that gets exceptional gas mileage, includes the extra safety features important to your customers, or carries a cost that is prohibitive, then customers will go elsewhere. And they did.
In the August 13, 2010 New York Times article, “Detroit Goes From Gloom to Economic Bright Spot,” writer Bill Vlasic stated, “Detroit has vowed to change before, slimming down when sales slumped or pouring resources into vehicle quality to catch up to foreign competitors. Many auto analysts say the current makeover has a more permanent feel, largely learned from the near-death experience of last year’s bankruptcies at G.M. and Chrysler.”
This is just one industry where customer disconnect and management hubris sent the large players falling. What matters most are the lessons learned; here are several of the most important:
1. In a connected world, you are never the only game in town.
2. Always know your customers – what they want, need and value.
3. You earn the privilege of serving your customers by knowing them well, responding in an exceptional way, and by standing behind your product or service.
4. To be retained, employees must add value and make a difference; there is no right to employment – it must be earned.
5. Strip the excesses from the business – run lean, efficient and effectively.
6. Develop a “here today, here tomorrow” mentality; be strategic.
In today’s world, a company must stay connected its employees and customers, and all products or services must be responsive and responsible. We are rarely the only game in town. That is okay – it forces us to improve our game and constantly focus on greatness.
Please forward this to someone who can benefit from it and contact me to help you activate your employees to create sustainable value for your customers and organization.
