How should a restaurant compensate for a bad meal? With a free meal? Wrong! Want to know why? Don’t miss this episode of #70secondCEO.
Read full transcript:
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.
We live in the age of the risk reversal. So risk reversal goes like this, I go to your hotel and I have a bad night, just doesn’t work out or just whatever, bed isn’t right, you didn’t turn it down, heat didn’t work, what would a hotel do for you? Or let’s take a restaurant, you go to a restaurant you have a bad meal, what are they gonna do for you? Copy the meal, I know most of you are on mute and like this is kind where all on mute, yes I do, you could just nod, just to make sure we’re all–that you could all hear me. So they’re gonna give you a free meal or they’re gonna give you a free night, they’re gonna account that and then they might give you a voucher for another meal or another free night. Where? At the same crappy restaurant or crappy hotel that you were just in. I don’t want that, I don’t want that room in the hotel, here’s what I want, if I had a bad night in your hotel, your apartment, not only will you refund me all the money but you will pay me–you will pay up to 50% of the contract, my new vendor of choice because your not only failed me but you wasted my time. How would you like that as a guarantee now? You liking that one?
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.