Do you really know your clients? Do you know what to talk about? Find out how in this episode of #70secondCEO with Carl Gould.
Read full transcript:
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over one minute investment every day for a lifetime of results.
If you look at franchise companies, 9 out of 10 franchise companies make it 5 years. But only 1 out of 10 companies you know, independently owned companies make it 5 years. So you ask yourself the question, what’s the difference between the two? And the easy answer is systems. Right, if I put in systems and I can duplicate what I do, I have a likely chance of more consistency. More consistent customer experience. My employees can work without trying to reinvent the wheel everyday you know. So, systems is a big part, but the main mistake I’d see, especially in early stage companies is they do not have themselves priced right, and almost always not charging enough. And they really don’t understand their ideal client at all. Right, so we talk with established companies and we ask them questions like, what are the hobbies and passions of your clients? You mean outside of work? No! Inside of work! Yes, outside of work. What do they like to do? When you talk to them, what did they say they did for vacation? Oh, I don’t know. I don’t ever talk to them about that. Well gee, wouldn’t that be worthwhile to know, if they have kids, if they’re married, where they live. So you have stuff to talk to them about.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.