A business built upon intimately understanding and meeting customer need is a business with enduring success. A business focused on profit is a business with a limited and rapidly expiring life. Customer need is the lifeblood of any business. It is why they exist and if they connect their purpose to that need, they will find endless opportunities for profitable expansion and growth.

 

Review, Reflect, Refocus – 2018/19

It is year’s end. A time during which many business leaders seek to close out the year well and turn their minds to the one ahead. It’s a period to review, reflect and refocus. 

Each year, ‘Compete Weekly’ selects a theme to support business leaders in this process and provides a series of articles to challenge and extend their thinking. In 2018/19, the theme is ‘If Not Profit, Then What?’  

Around the world, we have seen businesses and industries challenged by regulators and communities for their profit-first focus resulting in significant impacts on their market value. 

For all business leaders, the simple question then becomes one of ‘what do I then focus on to drive the performance of my business, if not profit?’

 

 

Summer Series No. 4/7

Three Selected Articles:

 

 

Achieving A Relentless Focus On The Customer

I don’t think you will find a CEO who wouldn’t say ‘the customer is our number one priority’. Yet very few businesses ever achieve a true customer focus, and this failing places a ceiling on their success.

 

 

 

 

Active Knowledge Question:

How does your business achieve a relentless customer focus?

 

 

 

The Importance Of Drawing A Fence Around Your Customers

“Who are your customers?” Answer: “Anyone who will buy from us.” This is possibly one of the most ill-considered responses I have ever heard delivered by a C-suite leader in a strategic planning session.

 

 

 

Active Knowledge Questions:

What are the boundaries of your chosen market?

And why is the answer to this question so important to your ability to compete?

 

 

 

 

In Business, Do You Know What You Need To Be Really Good At?

Knowing what your business can do really well, better than anyone else, guides and determines the future of your business. Not knowing leaves your business at the mercy of the market and your competitors.

 

 

 

Active Knowledge Questions:

What does your business do better than anyone else?

Does everyone in your business hold the same view?