Every business today, whether they’re aware or not, are having a low rate credit card processing, a disruptor or disrupted. The main culprit is the internet and emerging technologies. Companies that were born pre-internet are at a disadvantage versus ones that are born today. The difference? Digital first mindset.
Recently I had some issues with one of the internal fans on mi laptop, which will turn 5 years old in November; so I’m not surprised one of the fans stopped working properly. The problem is the internal components no longer exist because my laptop is a late 2012 model of the HP 15 Envy. So what did I do?
Companies get killed because they grow complacent and get disrupted by a different and better offering. Clear signals that a business is dying is when they don’t give a damn about their users.
Case in point: delicious.…
From Quora: A study from the UK just came out showing that 66 million complaints were made about products or services in 2014, almost double the number made in 2013.
Is customer service getting worse or are more people complaining?…
This Thursday we’ll discuss “Measuring an innovation ecosystem” on Innochat. Many will argue that to develop a culture of innovation you need talent, support, capital and a host of other mechanisms.
It’s such a common response that many organizations and governments around the world have created their own mechanisms to “drive” entrepreneurship and innovation in their respective ecosystems, but all their efforts don’t matter much because they lack a critical ingredient: culture.
Why? Because many don’t pay attention to culture.
Culture is not mandated, it is shaped by daily beliefs and actions. How do you shape culture?…
Customer loyalty. Oh my, today it is as important as the topic of innovation. Customer loyalty is the key to profitability. The reason is simple: It costs more to acquire a new customer than to keep a current one. Without customer loyalty, customers leave.
I’ve had the opportunity to work with companies of all sizes, from scrappy startups to large multinationals. And while there are many differences between them, there is one distinction that trumps them all: their attitude towards existing keeping customers.…
We’ve got to sell our ideas. There’s no way around it. And, we have to advocate for what we are selling. If we can’t, we’re doomed because nobody will believe in us. The catalyst for this, I believe, is a deep desire to make a difference: Our ideas should change lives so profoundly, that people can’t imagine going back to the old way.
But how do we put ourselves in this mindset?…
