We really don't look at our competitors. The market is big. If you focus too much on competitors, you can lose focus on the customer. If we make our customers happier, we are going to win.
Interpretation
Focusing on customers rather than competitors leads to greater success.
This quote emphasizes the importance of customer satisfaction over competitive analysis. Eric Yuan suggests that by prioritizing the happiness of customers, businesses can achieve success, as a happy customer base is more likely to drive growth and loyalty, regardless of the competitive landscape.
In practice
In a business seminar about building customer relationships.
If you see your company culture as a family, you don't want to fire someone just because their short-term performance is not good. If you do, even the people on your team who are excellent performers will look at what's going on and say, 'Someday you might fire me too.' You'll lose everyone's trust.
Zoom does not focus on revenue goals, but rather we have confidence that focusing on the happiness of existing customers and our employees will organically increase growth.
I would never allow anyone to give me money, no difference how badly I needed it. I wanted literally to earn my living.
There are three ways to ultimate success: The first way is to be kind. The second way is to be kind. The third way is to be kind.
I had great football players. To be quite truthful, my great football players, the ones who wanted the ball at the end of the games, they weren't focused on money. They want to do something great. They want to go to Pro Bowls. They want to win Super Bowls. Those are the people that succeed in sports - or in business.
There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated.
All I wanted was to be big, to be in show business and to travel ... and that's what I've been doing all my life.
I think people have learned that Herbie Hancock can be defined as someone that you won't be able to figure out what he's going to do next. The sky is the limit as far as I'm concerned.
Subscribe for the occasional hand-picked quote. No noise.