Hello! This is my first newsletter about customers. We’ll look at other things as well, but it’s mostly about customers. Let’s set the stage: If we wanted to build out a simplistic model for a business, we could start by adding in various stakeholders and then explaining the relationships and the way money and commitments flow between those stakeholders. We might start by adding the shareholders, the people who own the business. They’re putting their capital—their money—at risk in hopes that the business will be successful. Next we’ll add employees, the people who work for the business. They want to get paid for doing work. Lastly, we’ll add customers. The employees are going to deliver a product or service to customers in exchange for the customer’s money, and if there’s more money in the business at the end of the year than what the business had at the beginning of the year, the shareholders will be happy
Focus
Focus
Focus
Hello! This is my first newsletter about customers. We’ll look at other things as well, but it’s mostly about customers. Let’s set the stage: If we wanted to build out a simplistic model for a business, we could start by adding in various stakeholders and then explaining the relationships and the way money and commitments flow between those stakeholders. We might start by adding the shareholders, the people who own the business. They’re putting their capital—their money—at risk in hopes that the business will be successful. Next we’ll add employees, the people who work for the business. They want to get paid for doing work. Lastly, we’ll add customers. The employees are going to deliver a product or service to customers in exchange for the customer’s money, and if there’s more money in the business at the end of the year than what the business had at the beginning of the year, the shareholders will be happy