This is The Edge Of Innovation, a business weblog for entrepreneurs. Curated by the folks at New Methods.
Business in the 21st century does not need to obey by the preconceived notions of corporate hierarchy and culture.
Below are our posts for building your business, with the newest listed first.
Are you WOWing your customers?
When it comes to customer service all the talk recently has been about Zappos. And for good reason. They’ve done an exceptional job delivering on their brand promise, “Deliver Happiness.”
The reality, however, is there have been countless companies delivering customer service at a loyalty level for decades.
One such company is Nordstrom. Their employee handbook, printed on a small gray card, might be THE clue to delivering WOW.
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Conventional business wisdom states that the more unique your company’s niche, the more potential for success.
And at its core, this makes complete sense. Finding a niche usually results in a lot less competitors, along with a loyal group of customers.
But you must also keep the future in mind.
Where do you see your business in 1 year? In 5 years? In 50?
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More does not equal better. More features does not equal a better product. More attention does not equal more customers. More customers does not equal more profit.
And, more often than not, more is not an effective strategy. In fact, it’s often a failed strategy. Especially when it comes to marketing.
Everyone seems to be after more. More attention, more followers, more likes, more ________ (fill in the blank).
Most entrepreneurs are not finance people. Most are inventors or salespeople. They believe a need exists for something and want to be the one to fill that void.
Very few entrepreneurs really understand the way business finance works until it is too late — and that often means the end of the business. I’ve seen this countless times in my 12 years as an entrepreneur and consultant. Hell, I’ve even experienced it first-hand.
Knowing what you know now, what advice would you give to a new entrepreneur?
I’m often asked this question as I travel around the country speaking to groups on 21st century capitalism and leadership. This is a great question.
I would offer these 10 11 truths:
