067 – The Sole Purpose of Business
Brad Miller
in Business Systems, Marketing, Marketing Systems, Mindset/Positivity, Podcast, Sales, Selling Systems, Vision
Peter Drucker: The sole purpose of business is to Create and Keep customers.
Controlling Idea: THE SOLE PURPOSE OF BUSINESS IS TO CREATE AND KEEP CUSTOMERS
WHY IS THIS TRUE? Focus on the last word first. Customer!
If you’re Not careful and intentional you will be All Kind of Distracted. Your customers are who you serve…
… but without the focus we make our business about a lot of other things – all those other things are only important as they help us TO… create and keep.
Create and Keep.
- These two are what create profit. Creating and keeping customers creates profit.
Business is like monopoly – when you run out of money, the game is over for you. All the pieces go back in the box
- Creating and Keeping a customer is how the business does the thing it was created to do. The work of the business is for the Customer. Everything you are doing is for a better experience for the customer
– Even taking care of your Staff!
Who comes first – the customer or the staff. The staff BECAUSE…they take care of the customer
Stay Close to the Customer.
What does that mean?
- Be the champion of the customer
- They are not an interruption of your work – they are the reason for your work
I’ve hung out in the office just listening – trying to eavesdrop on phone calls and conversations.
It is not always GOOD – – – we can become annoyed and impatient with our customers
WHY? Because our customers do annoying things!
Love them anyway!
Tie this quote of Drucker into my other favorite quote of his
“Because of the nature of business it has two and only two functions: marketing and innovation. Marketing and Innovation make money, everything else is an expense.
Marketing and Innovation
Marketing = Create
Innovation = KEEP.
The first one is CREATE!
Some people mistakenly Misquote this and say – to GET and keep
Create is such a better word.
The purpose of marketing is to CREATE a customer.
This requires some creativity
I remember years ago from my Dale Carnegie sales trainer – – –
“Don’t look for someone who Wants what you’re selling, Look for someone who NEEDS what you’re selling.”
If you depend on people who WANT – – – that is a very small list, and you’re just waiting around for Your UP. You’re waiting for the phone to ring. Not the way to grow a business
BUT if you understand your Work and how you really Serve others – YOU ARE ATTUNED TO THE PEOPLE WHO NEED WHAT YOU DO.
THAT IS HOW YOU CREATE A CUSTOMER.
You Create Customers with Marketing And with SALES.
THE SECOND PART IS KEEP!
If you can’t Keep your customers, your business will never grow.
First because they will not say good things about your business – IF you are not Keeping them.
How do you Keep customers?
Your business is fine-tuned and you have The Best Customer Experience EVER Known to Man.
A Book on my shelf – – – Customer satisfaction is worthless, customer loyalty is priceless. By Jeffrey Gittmer
Sub-title: How to make customers love you, keep them coming back, and tell everyone they know.
It is my experience that in order to do that you need finally tuned systems that create a predictable customer experience every every every time
That is innovation. It’s thinking through every layer of your work and doing it with intention
So that when they come back – it is the same experience
That only happens with Intentional systems and Training and more Training and then some more Training!
The sole purpose of business is to create and keep a customer.
You have to Get this.
