By keeping production low which provides strong pricing power.
- Their brand to be something
- The colors on their brand and logo to define something
- The design to say something
- The font to mean something
- Their logo to represent many things
The truth is the customers know nothing and don't bother about anything.
From you at the first time, but it need not be the last time.
The typewriter is designed to make you type slower.
Is going faster jamming up your business?
You can read about the history if you are interested (click here)
When you fall in love for the first time.
When you get your first job.
When your wife say "Yes."
When you put on your wedding gown.
When your baby takes the first step.
When your husband cook the first meal.
When you have your first customer.
When you make a difference to someone's life.
I was reading an interview article of a CEO in a big company.
What strikes me about this interview is this.
Many people wonder how this CEO can jump from one industry to another, because the domain knowledge is all different. To which he answered, "Managing one business isn't all that different from managing another. I brought to each job management experience that I accumulated over the years. Ultimately, I'm a business manager. We manage a business, resources, human capital. In that regard, there are a lot of portable skills that I can take from one company and industry to another."
Why are CEOs able to jump from one industry to another without having to start all over? For the rest of others, we're lucky if we ever get to join a different industry, let alone starting from below.
Most human resources personnels, even managers who are doing the recruiting focus on education, skills, experiences and other attributes such as communication skills, problem solving skills, etc. In a broader sense, we can categorize them into portable and not portable skills. If you are working as an engineer, took a degree in finance and would like to apply for a banking job, your skills and experiences in engineering are not portable. But if you are involved in some budgeting works, that experience may be portable, depending on the job requirement. The rest like communication skills, problem solving skills are all portable.
Problems arise because we often view skills that are not portable as more important than those portable.
Given a pile of resumes, what do the recruiters usually do? They scan through the pile and fish out those with relevant education and experience. Then they check for other things like achievements, length of stay in each job, awards, etc. They narrow down to a few candidates and invite them for interview. From there, they will assess their other skills.
Assuming all things being equal, would you rather employ someone with experience but no desire to learn? Or would you employ someone with no experience but the desire to learn?
What if you place portable skills ahead of those not portable?
Invite all those who write in for a first meeting together. Give them a project and ask them to submit it in one week. They can choose whatever way they want to present their results. Slides, video, article, ebook or whatever. Then invite those whom you believe are the better ones for a second interview.
You'll get a lot of talents from diverse backgrounds and opens your organization to new exposure.
Imagine everyone is a CEO.
To say "Thanks."
It has becomes so difficult to say thank you.
May lead to higher wage.
Higher wage does not lead to higher productivity.
An event becomes a ritual becomes a burden.
It's not good for your culture.
For example, celebrating your boss birthday.
To pay your staff more salary doing the same thing as last year, your customers will think so too.
The brand, can your customers still know it's your product or service?
Take time to get to know people. Understand where they are coming from, what is important to them. Make sure they are with you.
So simple yet so difficult to do it.
- Clearing plates (unskilled)
- Clearing 20 plates at one time (skilled)
- Following instructions (unskilled)
- Redefining instructions (skilled)
- Doing check in for hotel guests (unskilled)
- Anticipating hotel guests' needs (skilled)
- Cleaning your house windows (unskilled)
- Cleaning office building windows (skilled)
- Hammering a nail (unskilled)
- Hammering 10 nails in 5 seconds (skilled)
I was reading a newspaper article this morning where someone commented "because skilled workers don’t have to go through training, they can contribute much quicker to faster productivity growth."
Let's say you are trained and experienced in bank teller job. We can safely say you are a skilled worker as you have the skills to perform banking transactions. If a bank employs you as a teller, they do not have to train you and you can quickly start on the job.
However, being skilled only means that you can start on the job immediately and the company saves cost on training. It doesn't lead to productivity growth.
If you perform as fast as the others, productivity stays the same. If you perform slower than the others, productivity actually goes down. A skilled worker does not necessarily translate into higher productivity.
There is productivity growth only if you are able to serve more customers in a shorter time than the others. Another factor that has to remain constant is the other tellers have to at least maintain their current level of productivity.
But if you are able to add value to the bank by proposing new banking procedures to cut down manpower requirement, up selling your other services, providing exceptional service and build trust to customers, it is a different story.
Go for people who can add value, not just skilled.
There are no good or bad locations for businesses.
There are only good or bad businesses.