Timely Insights

The Power of Customer Loyalty . . .

What matters more than client happiness? Customer loyalty! Can you measure it easily? Definitely!

All entrepreneurs want to grow their businesses in terms of revenue, profit or market share. And if you're like most entrepreneurs, you're on a constant search for the silver bullet to sustained growth. 1-800-GOT-JUNK founder and PROFIT columnist Brian Scudamore thinks he has found it.

Frank visited Tony Hsieh, CEO of Zappas, an online shoe retailer recently acquired by Amazon whose sales will increase by more than 25% this year. It’s a simple yet amazing answer that is applicable to any SME business.

Go to the full story.

The Danger of Success . . .

Every entrepreneur knows that problems are just opportunities in disguise. But some opportunities are also disasters waiting to happen.

When Ally Ghieri joined Dante Manufacturing as its CFO, she knew it wouldn’t be easy. Dante (not its real name) had even made the PROFIT 100 list, which meant it faced all the problems endemic to fast-growth companies: supply challenges, talent shortages and cash crunches. In short, the job looked like tons of fun.

Sadly, Ghieri (not her real name) soon found herself trying to put out an inferno with a garden hose. Under-managed and over-committed, Dante was hemorrhaging money. Ghieri would test her skills as never before trying to save a company that was collapsing under its own weight.

To help others facing similar problems, Ghieri shares the lessons she learned under fire. You can accept her rules for survival as genuine dispatches from the seven circles of entrepreneurial hell – a lesson well worth learning!

Go and get her heart-wrenching story at Canadian Business.

Quotable Quotes . . .

"What we have done for ourselves alone dies with us. What we have done for others and the world remains and is immortal."

-- Albert Pine

 

"When it is obvious that the goals cannot be reached, don't adjust the goals, adjust the action steps.

-- Confucius

 

"In order to change the world, you have to get your head together first.

-- Jimi Hendrix

 

"I'd rather be a could-be if I cannot be an are;
because a could-be is a maybe who is reaching for a star.
I'd rather be a has-been than a might-have-been, by far;
for a might-have-been has never been, but a has was once an are."

-- Milton Berle