The World's Best Book Summaries
What is a brand personality? Why is a brand important for struggling businesses? One way to differentiate your company is by developing a unique approach to delivering your products or services. Even if you don’t have a unique product or service, the way you deliver it can make your company stand out and grow more successful. Continue reading for three elements that will help you build your company’s brand.
Why is it important to rank customers? Is there such a thing as a bad customer? Mike Michalowicz says it’s important to conduct a customer ranking because their rank will determine how you should treat them to ensure your company’s success. The more valuable the customer, the more you’ll prioritize their needs and desires. Let’s explore what makes a customer valuable and the categories of value your customers can fall into.
What makes a customer valuable? Do customers need to share a similar worldview as you? A quality-over-quantity mindset is essential for creating a great product, as well as focusing on the right customers. The ideal customer is one that shares your values, is financially trustworthy, and is willing to work with you. Here’s how you can define your most valuable customers.
What makes a customer bad? Can you get rid of customers that are doing more harm than good? Mike Michalowicz says you need to fire bad customers because they can harm your business by wasting time and resources. Bad customers don’t share your values, aren’t financially trustworthy, and aren’t cooperative. Keep reading to learn how to fire a customer and cut ties with them once and for all.
What’s Onward by Howard Schultz about? How did Schultz turn Starbucks around during the 2007-2008 financial crisis? In Onward, Howard Schultz highlights the obstacles he faced as the CEO of Starbucks at a time of worldwide instability. He further explains how he managed to save the company while preserving its unique value. Read below for a brief overview of Onward.
What do you do when a customer is unhappy with your service? Do you know how to improve customer experience at your business? A crucial part of ensuring your company’s success is improving your most valuable customers’ experiences. This will further increase their value and help your company succeed. Let’s focus on Mike Michalowicz’s method for turning customers’ dissatisfaction into delight.
What’s the innovation strategy of Starbucks? What cuts did CEO Howard Schultz have to make to raise Starbucks’s profits? One of Schultz’s initial turnaround strategies in 2008 was to improve Starbucks’ financial standing. He achieved this by focusing on two objectives: frugalizing operations and shifting in focus from expansion to innovation. Let’s explore these innovative changes in more detail.
What are the benefits of a business framework? How can you simplify your company’s goal into one plan? An operational framework explains one of your company’s processes in a clear and detailed way that your employees can easily follow. One benefit of creating operational frameworks is that they keep the company running smoothly as it grows. Read below for a short guide on how to create a business framework for your employees.
Do you ever think you can do things differently than those in charge? Do you have great ideas but feel like you’re not high enough on the career ladder to act on them? In How to Lead When You’re Not In Charge, business speaker and former evangelical pastor Clay Scroggins explains that you can be a leader even without holding a position of authority. You can still inspire others to strive toward a shared goal of a better future, regardless of your position. Read below for a How to Lead When You’re Not in Charge book overview.
What was Starbucks’s plan for success in 2010? How did Starbucks reward its employees in the same year? In 2010, Starbucks lifted itself out of an economic rut thanks to former CEO Howard Schultz. Schultz’s not only stemmed Starbucks’ financial downturn but also bolstered its reputation as a socially responsible corporation. Here’s how Schultz planned to keep Starbucks in a positive state after 2010.