In discussions with some of my clients, I have asked if they are reaching out to their customers directly, CEO to CEO. Some are, but some respond that everyone is so busy at the moment, they are just leaving them alone. I think this is a mistake.
Yes, we are all busy, and stressed. However, if you accept that how you act over this period will define you for the next ten years, then I think reaching out is a great investment. But don’t get me wrong, this is not about call up asking for an order. Rather, operate empathy-first. Ask how they are doing, is everyone in their family safe and well. Tell them what you are doing to get through this and what can you do to make their life easier. Prioritize in-depth relationships with customers and focus on quality over quantity, as we all know we should do when it comes to relationships.
You may find they are stress and have no one to talk to because they are the CEO. Talking, sharing ideas, being empathetic, and just listening may be the greatest thing you can do for them now. I remember a story my father told me when he had just started his industrial catering business. One day he at his largest and most important client, he stopped and asked a young junior executive how his meal was and was there anything he could get him as the young man seemed unhappy. The young man thanked my father and shared that he was anxious as his child had been taken seriously ill My father sat with him for an hour during my father’s busiest time of the day just listening to the young man talk. About twenty years later, that young man was promoted to CFO of this organization. My father sent him a bottle of champagne to congratulate him. The executive sent back a note which said, “I have never forgotten the lunch you spent with me when I was a nobody and was anxious about my son. The contract is yours for as long as you want it and I am here.”
Customers will remember how you treat them now and may do for ten plus years. A few calls is a small investment.
Copyright (c) 2020, Marc A. Borrelli
COVID has taken a toll on all of us. If you have not taken an extended vacation in a while where you disconnect, you need to now. You and your business will benefit.
I recently discussed how you must be famous for something. If you're famous for something it is easier to: focus on what you can be the best at, find your "tribe," tell people what you do, get referred, and define your core customer While we all know of companies...
Companies need cash to grow. If your cash conversion cycle is too long, you may not be able to finance your growth. Here is how to reduce it.
In a meeting last week, one of my Vistage members discussed his expansion into a new business area and how to price his services. The way he described the new market was comprehensive. As usual in Vistage, this lead to a great discussion challenging his assumptions...
Many businesses do not take full advantage of the value they offer to price effectively. Many struggle to price at a point that makes them a great margin. Here is a way to look at it see where you can price to improve your business.
I recently facilitated a workshop with several CEOs where we worked on the dramatic business growth model components. One of the questions that I had asked them beforehand was, "What is Your Profit/X?" The results showed that there this concept is not clear to many....
There is a war for talent. How do you attract talent to your company and have them apply for jobs there? You have to show why they should consider you, who you want, what you offer, and how your current employees feel.
Productivity remained during WFH with COVID. However, further analysis found that hourly productivity fell and was compensated for by employees working more hours. What was the culprit – Meetings. Want to increase productivity, have fewer meetings.
For those of you who are not aware of EOS, it is the Entrepreneurial Operating System. It seeks to improve businesses by getting six components aligned to enhance business operations. The six are: the vision the people the issues traction - meetings and goals...
COVID has affected everyone. However, companies need to examine if they have lived their core values during COVID, how they are reinforcing them in a WFH environment, and especially with the onboarding of new hires.