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This discipline creates predictability by focusing your company on people instead of profit.
It stands to reason that the more a business focuses on customers (who are creatures of habit) instead of sales, the more likely it is that the business will succeed. If you only focus on sales (profit), you’ll lean toward competing on price. But focus on your relationship with your customers, and not only will you learn what led them to buy from you in the first place, but you’ll also learn what keeps them (or could keep them) coming back.
In other words, instead of generating random sales through pricing structures, you’ll be adding zeros through your growing base of satisfied customers who like you and want to continue their relationship with you.
Need this Discipline in Your Organization?
Hyatt, the iconic American multinational hotel chain, drives revenue by building brand preference. The company uses sophisticated, quantitative strategic analytics and predictive modeling tools to identify the most profitable customers, enabling it to leverage choice in all facets of marketing. Hyatt’s strategy is rooted in a comprehensive understanding of its customer segments, the dynamics of the markets in which it does business and the effective use of new technologies.
Airbnb is a go-between for travelers and hosts, charging hosts a 3% commission to rent their properties as short-term accommodations and charging travelers 6-12%.
Everything Airbnb does starts with its core customers. A comprehensive digital marketing strategy is centered around hosts and guests, leveraging their experiences. Airbnb encourages users to invite new members to try its services via email, a powerful referral tool, with referrers receiving a $25 travel credit when new members undertake their first trip and a $75 credit when they host for the first time.
Airbnb understands that when guests feel heard, they’ll advocate enthusiastically on its behalf, both online and off.
"Pulling Profits Out of a Hat shows why it’s so important to look at the small stuff that businesses usually ignore: emotional connections, employee engagement, employee retention, and community. But focusing on these and other overlooked areas of your business, Brad Sugars and Monte Wyatt give you exceptional tools to build exponential growth."
"Brad Sugars and Monte Wyatt know that leaders don’t build businesses – leaders develop their people and it’s the people who build businesses. But how do you get that to happen? Brad and Monte know – and they’re sharing their insights with readers. As two of the world’s leading executive and business coaches, Brad and Monte have taken their proven strategies for finding hidden value in all aspects of an organization, from the bottom up, and they’ve created a step-by-step method for exponential growth. Pulling Profits is that rare book: a truly practical guide to creating a stronger, more profitable business."
“Profit is not just money left over from sales and operational costs – it’s the reward for a job well done and a plan well executed. It’s where hard work meets team-work. And it’s the value you create that adds to your growth and legacy. “Pulling Profits Out of a Hat – Adding Zeros to Your Company Isn’t Magic.” is a gem. A 10-carat diamond in the rough. All you have to do is take it for yourself and craft your own jewel. Monte Wyatt is a world-class business coach and profit generator. Brad Sugars is a world-class entrepreneur and wealth generator. Learning from these two you can’t go wrong.”