Omega Blog

Customer Satisfaction Relies on Company Success

Posted on 31 July, 2014

Company success directly impacts customer retention and satisfaction. The wisdom from successful entrepreneurs has been gathered and Omega Management Group shares the details.

Follow Your Heart

Dennis Crowley, CEO of Foursquare, still cites the advice of his mother, “Do what you love, and the rest will come.” Crowley continues to follow his mother’s advice and has accumulated knowledge of his own.

  • Be clear to investors on company’s do’s and don’ts.
  • Hire strategically and build a reliable team. Your great employees will stay. Train your employees that are not so great to ensure their skills and knowledge become great.
  • Maintain focus and let go of negative feedback about your ideas.

“How much? How fast? At what margin?”

Rick Alden, the founder of Skullcandy states, “The fastest route to revenue wins.” The challenge is discerning the good ideas from the bad ideas and targeting one great idea to free up the resources necessary to launch the product immediately. Alden follows Guy Kawasaki’s advice for startups, consistently ask, “How much? How fast? and At what margin?”

The right people and positions matter most

Peter Relan, founder of 9+ and Sheila Johnson of Salamander Hotels & Resorts both emphasize the importance of investing in your team. The motto is that ideas are important but even more critical is having the proper people in the proper positions to execute those wonderful ideas. Your team is your most valuable asset. Hire only the best, take care of them, and your company will profit with customer and employee retention.

Have your next hire in mind

Keep in contact with people whom you didn’t hire but liked. You never know when you may need them. Employees are never as faithful to your business as you. It’s important to have a back-up plan. Those contacts may be your saving grace.

Think only in future terms

Future thinking is the way of the entrepreneur. Reflecting on the past does little good. It is important to clarify to teams the company’s vision, what they are doing, and why they are doing it.

Be a leader not a follower

When you rely on market research for innovation, it is too late. Innovative ideas only have perception, purpose, and a passion to push forward. There is no evidence to support what has not been created. Christine Day, CEO of Luvo says, “Truly innovative companies are not afraid to let go and create the next market shift.”

There is always room for growth

As a professional you can always learn new skill sets and get to know your customer base better. Diane Bryant, Senior VP at GM states, “The better you understand your customer, the higher the probability of success.”

Start Now

Company success is being passionate and fearless. You don’t have to know everything about business to start. There is never a perfect time. Free up your time by maintaining focus and letting go of over thinking every decision and opportunity. Nike has it right, “Just do it.”

Treat people with kindness

Customer retention is about building relationships. Building relationships is about being authentic. This advice applies to every aspect of life from the way you treat colleagues to customers to investors.

Trust Yourself

The final advice given is trust yourself. You know more than anyone else the right thing to do for company success, employee retention, and customer satisfaction.

The perspectives from entrepreneurs are as varied as their companies but their abilities to maintain good relationships with great employees and loyal customers are what stay constant.