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5 reasons why many businesses are still not customer-led


mostly, it’s a leadership choice

You hear a lot today about customer-led businesses. But of course you’ve always heard that if you’ve been listening. The customer is the boss. The customer is always right. The customer pays our wages. Despite the ancient nature of this particular wisdom, I still see plenty of businesses that aren’t led by their customers. At the end of the day, customers won’t part with their cash unless you solve a problem they have — even if it’s a problem they don’t know they have. I can think of 5 common reasons for this:

  1. too much money
  2. visionary-led for too long
  3. distrust of the customer
  4. desire to sell existing assets
  5. no customer advocate

1. Too much money

‘Necessity is the mother of invention.’ Well funded efforts just don’t need to hustle as much as businesses that are bootstrapped. This is a bigger problem in large companies funding new initiatives, but can also be a startup problem in certain circumstances. If you have enough money, you can remain infatuated with your own idea rather than working on the much harder problem of acquiring and delighting a paying customer. It’s not practical to turn down money, but if you have a lot of it, set milestones and real consequences that will force hard decisions as though you were running out of money.

read more -> https://medium.com/p/6f0477f4acc7

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