Organizations exist to enable ordinary people to do extraordinary things.
Theodore LevittRead
The true purpose of a business is to create and keep a customer, not to make you money.
Interpretation
A successful business focuses on customer satisfaction rather than just profit.
The quote emphasizes that the fundamental aim of a business should be to serve the needs and retain the loyalty of its customers. When a business prioritizes creating value for customers, the profits will naturally follow as a result of satisfied and loyal clientele.
In practice
This quote could be used in a business seminar to highlight the importance of customer satisfaction.
Organizations exist to enable ordinary people to do extraordinary things.
Kodak sells film, but they don't advertise film; they advertise memories.
Ideas are useless unless used. The proof of their value is in their implementation. Until then, they are in limbo.
Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs.
A powerful force drives the world toward a converging commonality, and that force is technology. β¦ Almost everyone everywhere wants all the things they have heard about, seen, or experienced via the new technologies.
You want to dig your well where you have the best chance of finding water with the least amount of digging
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.
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.
We believe that business is good because it creates value. It is ethical because it is based on voluntary exchange; it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity.
We used to think that the enterprise was the hardest customer to satisfy, but we were wrong. It turns out, consumers are harder than the enterprise because the consumer will not give you a second chance.
The hard part of running a business is that there are a hundred things that you could be doing, and only five of those actually matter, and only one of them matters more than all of the rest of them combined. So figuring out there is a critical path thing to focus on and ignoring everything else is really important.
Our vision, which has not changed since the day the company was founded.
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