Listen up, folks! In this audiobook, we have the one and only Deaver Brown, Harvard AB & MBA, delivering some straight talk about the importance of customers in the boardroom. Trust me, this guy knows his stuff. And guess what? He's not just the author, he's also the narrator. Talk about multitasking!
Now, let's dive into the meat of it. Brown hammers home the point that every single board meeting should kick off with a deep dive into the minds of our beloved customers. What makes them tick? How are our franchises holding up? Are we acing the repeat business game? You get the picture. Because let's face it, folks, while financials might be as clear as day to most board members, customers are the lifeblood of any organization. And that includes not only those fancy educational institutions, but also those alumni and students who may sometimes be considered mere nuisances in board discussions. It's time to show them some love!
Who are we here to serve, anyway? Management? Shareholders? Nope, it's those customers, my friends. They are the ones that really matter. And you know what the author tells us? The key to profit lies in one simple concept: listening. Yep, you heard that right. From P & G to Coke, and even all the way to mighty IBM, the big players in marketing know the power of attentive ears. Take Lou Gerstner, for example. This turnaround expert guru from McKinsey, when he took the reins at IBM, he made sure to dedicate a solid 40% of his time to just listening to customers. He wanted to know every single thought they had, every desire they harbored. That's some serious dedication.
Why, you ask? Well, I'll tell you. A loyal customer of a seemingly mundane product like Corn Flakes or Cool Whip can bring in a boatload of cash over their lifetime. And not only that, they can be a walking advertisement, spreading the good word about your brand. Now, let's talk about the long-term car customers. These fine folks can bring in a whopping 250,000 bucks or more over a lifetime. That's some serious cheddar right there, folks. So, where should we start? You got it, with the customers. It's a no-brainer. The bigwigs at Apple and Amazon figured it out, the masterminds at Harvard and Stanford know it too. But hey, let's not forget those who took a wrong turn, like McDonald's. They got a bit too pricey for their own good, but they managed to make a comeback.
Now, if we want to unravel the magic of Apple, it's all about those long-term customers. They just can't get enough of that Apple goodness. And guess what? We all need to sit up and pay attention to this lesson. So, my friends, let's get those listening ears on and start showering our customers with the love they deserve. They hold the key to our success, and it's about time we give credit where credit is due. So, buckle up, get ready to take some notes, and let's rock the customer-centric game.
Keywords: Customers, Board, Board of Directors, Shareholders, McKinsey, McDonald's, IBM, Lou Gerstner, Apple, Corn Flakes, Cool Whip, nonprofits, business.
