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What happens when you don’t listen

Your customer’s story is the most important story in your business.

You need to know it. You need to understand it. You need to constantly be tuning in to it, so that you know the moment it starts to change.

Businesses that do this well succeed.

Starbucks started life selling espresso makers and coffee beans, until CEO Howard Schultz realised, after a visit to Italy, that European-style coffee houses were what people wanted. The company changed their business model to become “the third place” in their customers’ lives, after home and work.

Businesses that don’t listen, risk failing.

Blockbusters are probably the most famous example of a business that didn’t listen. They enjoyed phenomenal success in the movie rental business, but didn’t stay tuned in to what really mattered to their customers or how the industry was changing right under their nose.

By the time they realised what was happening it was too late, People were moving in their droves to online streaming and they were forced to file for bankruptcy.

Staying tuned in to your customers’ story requires checking in with them regularly, testing your assumptions, getting feedback and responding to what the market tells you.

Are you listening?

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