The organization cannot trust the individual; the individual must trust the organization.
Ray KrocRead
Look after the customer and the business will take care of itself
Interpretation
Focusing on customer needs leads to business success.
This quote emphasizes that prioritizing customer satisfaction is fundamental to the success of a business. When businesses concentrate on serving their customers well, they create loyalty, which in turn sustains and grows the business organically without needing extensive marketing efforts.
In practice
In a business seminar while discussing customer service strategies.
The organization cannot trust the individual; the individual must trust the organization.
The two most important requirements for major success are: first, being in the right place at the right time, and second, doing something about it.
Achievement must be made against the possibility of failure, against the risk of defeat. It is no achievement to walk a tightrope laid flat on the floor. Where there is no risk, there can be no pride in achievement and, consequently, no happiness. The only way we can advance is by going forward, individually and collectively, in the spirit of the pioneer. We must take the risks involved in our free enterprise system. This is the only way in the world to economic freedom. There is no other way.
You're only as good as the people you hire.
I HAVE ALWAYS believed that each man makes his own happiness and is responsible for his own problems.
I never considered my dreams wasted energy; they were invariably linked to some form of action. When I dreamed about having a lemonade stand, for example, it wasn't long before I set up a lemonade stand.
I love business. I love helping urban communities grow. I love putting people to work of color. I love making sure - like right now the whole mortgage crisis, I want to help people get back into their homes.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
To escape the curse of commoditization, a company has to be a game-changer, and that requires employees who are proactive, inventive and zealous.
When we launched a new company, I reviewed the ads and marketing materials and asked those presenting the campaign to read everything aloud to test the phrasing and concept. If I could grasp it quickly, then it passed with muster. We would get our message across only if it was understandable at first glance.
As an entrepreneur, I've learned how crucial it is to be able to call a spade a spade and avoid falling in love with a particular strategy or product. Instead, you need to let the customer tell you what she needs - and to change her as she changes.
There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested - there's never any cash. It reminds me of the guy who looks at all of his equipment and says, 'There's all of my profit.' We hate that kind of business.
Subscribe for the occasional hand-picked quote. No noise.