Today’s newsletter focuses on the 3rd and final step of The Mine Your Own Business System, discussing the role every person in your company plays in unleashing latent profit. Please comment below!
If you want to read the other articles in this series, you can find them here:
Remember, there is significant profit lurking just below the surface of your business. The Mine Your Own Business System focuses on the connection between employees, customers and profits. Go ahead, Mine it!
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In addition to writing, I spend most of my work time helping companies unleash their potential by creating better connections with their customers. This happens through my speaking events and through Yastrow & Company consulting engagements, where my team and I help companies figure out who they intend to be in the future, and then engage the entire company in creating that future through strong "We" customer relationships.
Before starting Yastrow & Company in the mid-90s I was vice-president of resort marketing for Hyatt Hotels. My experiences in the hotel business showed me clearly that most marketing doesn’t happen in the marketing department. Customers are paying attention to all interactions with a company, not just the promises made in traditional "marketing communications."
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Steve, you continue to top yourself, don’t you, my friend? While there are no 100% fixes to the woes of today’s economic climate, ANY business owner or leader would be very well served to pay heed to what you have put together here. It is impossible to overemphasize the value of growing your business relationship (and subsequently your revenue $$$) with existing customers.
I know — way beyond any doubt — the value of simply doing a good job for a client then investing a whopping fifty cents or so in a “thank you” card with a couple of b-cards enclosed, along with the time to hand write a personal note to honestly thank the client.
There’s no shame or pain in asking an existing client for more work and business — unless, of course, the work you did for them sucked.
Dan – Thanks so much … your comments are always valuable to me, and I really appreciate these kind words!
This is the methodology we’ve been using to help companies unleash latent profit … it works. The challenge is in the execution, but there are great payoffs for those who do it!
Steve