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Creating Generational Legacies

Sunday, June 21, 2020

It’s all about CX - listen to your customers



Ross Perot – Listen to Your Customers


“Spend a lot of time talking to customers face to face. listen to your customers.”


Your  customers are the best source of information you have for finding out what’s wrong with your company. They’re the people who’ve used your products and services. As a result, they’re the people who are best placed to pass judgement on what you do.


Listen to what your customers have to say. Find out  what the customer wants. 


Which social media channels do they use? 

It’s all about CX - Have values and an aligned belief


Starbucks  founder Howard Schultz says: “If people believe they share values with a company, they will stay loyal to the brand.”

When customers share your company’s values, they connect to what you’re doing on a deep level.

Know what your customers want and align your business to meet those needs. 

It’s not just about  the product.... you need a great product just to get to the table - that is expected ....It’s about your values , your purpose and what your company stands for .

Saturday, June 20, 2020

It’s all about Customer Experience

Vint has nailed it - it’s all about customer service ....




Steve Jobs – Inform Your Customers

An uninformed customer is an unhappy customer.


“Get closer than ever to your customers,” he said. “So close that you tell them what they need well before they realize it themselves.”


Customers often don’t know how much an innovation benefits them until they have it in their hands. This means they may not even latch onto the exciting new product you’ve created.


Apple’s philosophy is to create something new, and then inform the customer. Tell them why they need it and you position your brand as one that’s always serving customers.



Starbucks  founder Howard Schultz says: “If people believe they share values with a company, they will stay loyal to the brand.”

When customers share your company’s values, they connect to what you’re doing on a deep level.

Know what your customers want and align your business to meet those needs. 

It’s not just about  the product.... you need a great product just to get to the table - that is expected ....It’s about your values , your purpose and what your company stands for .



Ross Perot – Listen to Your Customers


“Spend a lot of time talking to customers face to face. listen to your customers.”


Your  customers are the best source of information you have for finding out what’s wrong with your company. They’re the people who’ve used your products and services. As a result, they’re the people who are best placed to pass judgement on what you do.


Listen to what your customers have to say. Find out  what the customer wants. 

 

Which social media channels do they use





Jeff Bezos – Don’t Stagnate


”We treat our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”


“Good enough is not good enough  - exceed expectations”


It’s all about improving the customer experience in any way that you can. 


If you don’t strive to improve, you become what Bezos refers to as a Day 2 company. This is a business that’s declining towards an eventual total failure.


We want to make money when people use our products - not buy our products




“Your most unhappy customers are your greatest source of learning.”


The customer experience is key to retention.

Gates keeps it simple when he says: 


Listen to your customer - Your customers want you to recognise that they have a voice. Tney want you to take action when they tell you about something that they don’t like. 



JC Penney – Be Your Customer’s Friend





“Friendly service creates a personal connection that encourages people to come back. Every great business is built on friendship,”.


It’s the personal experience that really counts. 

“Customers don’t care how much you know until they know how much you care “


“Give them what you want and you will get what you want! “

Personal service will be a key differentiator. People don’t want to have to talk to a machine! People like to talk with people!  


Picking up  the phone can be a great way to show customers that you care




“Being on par in terms of price and quality only gets you into the game. Brilliant Customer Service wins the game.”


How you make customers feel when they interact with your business influences their loyalty.


Jeffrey Gitomer – It’s a Long-Term Process - Consistency




It’s all about relationships - and strong relationships take a significant investment of time and effort. 

The aim is to build klt - know like and trust”


“You don’t earn loyalty in a day. You earn loyalty day-by-day,” he says.


Customer loyalty comes as a result of meeting or exceeding a consistent standard.


Shep Hyken – how to wow





“What’s the difference between a satisfied customer and an advocate? “


A satisfied customer is one who received your service and got what they expected.


An advocate is one who sees that you go above and beyond whenever you provide your service. 


That’s a customer who’s going to come back for more



.



Virgin founder Richard Branson agrees  “The key is to set realistic customer expectations, and then not to just meet them, but to exceed them — preferably in unexpected and helpful ways.”

Source 



Wednesday, June 3, 2020

R&D Tax Concession Audits have eased up

The crackdown on research and development tax incentive claims has eased, with a more collaborative and fair approach to audits adopted and a number of recent successful appeals

The Small Business Ombudsman also conducted an investigation into the enforcement of the scheme, with the final report criticising the conduct of the government agencies, saying it had had a “devastating impact” on companies.

Monday, June 1, 2020

The Future of Work - is there such a thing as going back to normal?


June 2020 Update

I hope this message finds you well.  I'm finding members in my close network are split between those who love the isolation and WFH peace and those who miss the daily face to face interaction with their work colleagues.  I think this serves to highlight how different we all are and the different daily routine we need to help maintain connectivity and productivity with remote working.

Craig Saphin
 
bank finance for small business

Ghost Town

Last Monday I was on a walk with my dog, Mocha, in Sydney along the King Streets wharves and into the all-new Barangaroo precinct.  Even though it was a weekday and 11 am there were all the hallmarks of a ghost town complete with a noticeable wind and squeaky signs echoing in the empty corridors between the buildings.

Recently I saw an interview with an executive from the commercial property titan Dexus.  He maintained that commercial property was sound and that things should return to "normal" in a short time.

We hear a lot about "normal" and "new normal" these days.  The advisory and NED roles I hold with successful SMEs mostly indicate that the best we can anticipate at the moment is a division into "A" and "B" teams with just half of the staff in the office at any one time.  The other half will continue to work remotely.  For the foreseeable, this scenario seems more realistic than the overly optimistic Dexus opinion.

Humanised Workforce

Future of work or FOW features in much news feeds and blogs at the moment.  One of the trends has been the decrease in the scary and sensational components of FOW and the insertion of calming rational projections.

A well-encapsulated version I read recently was from the CEO & Editor in Chief at People Matters, Ester Martinez who said: "The future of work is not something that happens to you, it is something you create for your company."

Martinez seems to challenge all business leaders to take responsibility by working out what the required skills are for the future and how the correct training and talent acquisition can be implemented to position each business in a sustainable manner.

I was in a BBG Super Forum Zoom conference this week where Brian Sher from the Fortune Institutewas the guest speaker.  Brian has published several books and is a well-known marketing and competitive positioning expert.  Recently Fortune released an influential report: "The 14 Powerful Megatrends in a Post COVID 19 world".  #12 in the list of trends is "New Skilling" which supports the point made by Martinez. 

Reskilling at company level and individual level are going to be necessary so that workers can do the roles which are emerging and can move on from those which are coming to an end.  Part of this will involve change, so resilience and mental toughness also come into play.
 
Scaling New Heights - A Review

"Upon first leafing through Craig Saphin’s Scaling New Heights book, its structure meets well any CEO/CFO’s need to obtain expert business assistance -- fast. Simply pop onto the table of contents.  Short and referenced topics are there, as easy to spot as the author’s Expert Opinions and Sources. Quick and wise info any time.

After all, we often feel there is little time to read. Author Saphin’s Pillars are succinct and pertinent: Business Foundations, Sales Strategy, People and Culture Strategy, Strategic Marketing, Operational Excellence.  These sections strategically divide this important business book into the smart best-practices. Topics lead readers to gradually plan and evolve anew any company. The 5 Pillars become fundamental resources with sub-divided chapters, only 4-5 pages long and mapped in concise a format of "Executive Topic Summary, Content, and Actions Lists."

Mr. Saphin’s penchant for enumerating key practices frames each mini-chapter into an essential guide for revamping or simply refining a company—especially in this wildly changing world. And the minimalist illustrations, by Colleen O’Reilly, energize the book with Ms. O’Reilly’s edgy sketching style. Scaling New Heights is a vital survival kit for any business founder/owner leader in our post-C-19 global commerce arena.

As you review this book, know that you are a conscious evolutionist*.  You are a leader who is a curious, life-long learner. You manage business growth consciously. Bravo. Evolving businesses self-improve, grow, and stay in business long-term – on purpose.

Own your next business improvement plan. Grab Scaling New Heights in both e-book and paperback, so you may reference it anytime and anywhere. Boost your next business operation into a higher practice of excellence."

*Refer to: Barbara Marx Hubbard’s "Conscious Evolution" books.
Book Review by Linda Lee Ratto, Ed.M., Author, 15 books

Find out more on my website.




The coronavirus crisis should be a "wake up call" for local manufacturing.



At our BBG Innovation forum last week - we were talking about Brian Sher’s 14 mega trends that will happen post Covid-19 . 


One of these trends was the rise of local manufacture. 


In the SMH this morning, Cara Waters writes about audio equipment maker, Peter Freedman’s advanced manufacturing business , Rode Microphones - based in Sydney’s Silverwater. Rode now employs over 500 people in Australia, China and USA . 


Going against the trend of moving manufacturing to China - (Aus Manufacturing has gone from 13% - 6% of GDP over past 20 years). Rode Microphones has gone against the trend - they manufacture a global niche product -  microphones - selling over 2.5m products per annum! 


The Australian economy needs to focus on value-added exports rather than simply selling raw materials into China, says Freedman .


 “we can't just scrape the surface, whack it on a ship, sail it, that's gone. We have great raw materials - the best food - We should be the best delicatessen- not just a bulk distributor of wheat!“



Chinese manufactured goods worldwide (according to Euromonitor )

  • 35 per cent of household goods 
  • 46 per cent of high tech goods, 
  • 54 per cent of textiles and apparel, 
  • 38 per cent of machinery, rubber and plastic, 
  • 20 per cent of pharmaceuticals and medical goods and 
  • 42 per cent of chemical products 


Theory of Constraints expert - Hendrik Lourens was talking about the importance  of growing the Australian manufacturing base and not having to rely on other countries for our foods and services. 




To do this, he says that Government will need to implement various policy measures to support this.


Mr Freedman agrees that the manufacturing revival will need  a sustained push from government. There needs to be a long term commitment to the manufacturing sector.


“There are no short term solutions here, none at all." Says Freedman “Buying the cheapest is often not buying the best solution! “


The sustained long term investment in supporting Australian manufacture will provide a big payday for Jobs, Security and the general well-being of our nation.

Gary Bolles - Chair Singularity University - the Future of Work - presenting - The Great Reset: The Exponential Evolution of Work

Gary A. Bolles, Chair for the Future of Work, Singularity University and the Internationally acclaimed speaker and visionary, has kindly agreed to share his worldclass insights at our NextTech Transformation Forum on the Thursday 18 June, for our BBG members and their guests.