It is a simple truth that every business venture has customers. However it is a myth that customers are always right. A better consideration for those working in or owning businesses is that the customer is always the customer.
This focus means that the customer should be treated with respect and should receive quality service. It does not mean that the customer can do no wrong, nor does it mean that every customer necessarily is a good customer. The customers who harass employees, demand special attention as a divine right or privilege, pay late or not at all, return purchases regularly, or constantly complain may be costing more than they are worth. FIRE THEM!
The customers who meet respect with respect, provide a fair mix of compliments and criticisms, pay promptly, and refer other good customers are worth their weight in gold. VALUE THEM!
If this seems extreme, consider that studies show that exceptional customers usually represent twenty percent of a business’s customer base and eighty percent of the profits! What do the twenty percent of bad customers represent? At least twenty percent in increased expenses!
Outstanding businesses understand who their good customers are, what those customers want and expect, and how to keep informed about the changing needs of their good customers. Outstanding businesses develop superior core processes to exceed customer expectations. Superior core processes such as supply-chain management, order fulfillment, staff training, and product development. And outstanding businesses do not rest on their immediate successes…they focus instead on continuous improvement because they know the competitive world and the customers are constantly changing.
In planning for or operating a business, it is critical to know your target customers and how you are going to meet their expectations.
