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.
Interpretation
Focusing on customer and employee happiness can lead to organic growth rather than solely chasing revenue goals.
Eric Yuan suggests that prioritizing the satisfaction of customers and employees is more effective for sustainable growth than merely setting revenue targets. This approach emphasizes the long-term benefits of a happy workforce and customer base, which in turn drive success naturally instead of by force.
In practice
In a business conference about customer relations.
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.
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.
If Vancouver did not succeed as Starbucks from '87 on, our entire international business, which is now thousands of stores and a significant amount of growth and profit, may not have existed.
There is a huge body of business evidence now showing that energy savings give better service at lower cost with higher profit. We have to tear down barriers to successful markets and we have to create incentives to enter them.
No young kid growing up dreams of someday becoming a businessman. He wants to be a fireman, a sponsored athlete or a forest ranger The Lee Iacoccas, Donald Trumps, and Jack Welchs of the business world are heroes to no one except other businessmen with similar values.
Too many companies are running their business into the ground, I would argue, by being myopically short-term focused on the shareholder.
If you develop a product that gets what the customer is trying to get done, you don't have to advertise; people will just pull it into their lives.
A business owner is the boss, but it's a job, a place that is stable and profitable. An entrepreneur is an artist of sorts, throwing his/herself into impossible situations and seeking out problems that require heart and guts to solve. Both are fine, but choose.
Subscribe for the occasional hand-picked quote. No noise.