## Dissatisfied Customers

It’s easy to calculate the value of a satisfied customer. You can look at what they pay over their lifetime to see their lifetime value.

Determining the lifetime cost of a dissatisfied customer is much more difficult. How much do they pay someone else that they would have paid you if they had been satisfied? How many people did they discourage from doing business with you?

Not everyone will be happy with you at all times but it’s important to understand the cost of dissatisfied customers.

Have a great day!

Lawrence

## Change the process

When things aren’t going well there is a tendency to lower the bar in order to achieve…something.

Wouldn’t it make more sense to change your process so you can reach the goal rather than simply lower the bar?

At some point we should figure out how to reach for our dreams rather than settling for what is easy.

Have a great day!

Lawrence

## Direct, Inverse and Unrelated

Many people can see a direct correlation. This would be where one variable increases and therefore the other variable increases. In soccer, a team with a high differential between goals scored vs goals allowed will most likely have a high winning percentage. There is usually a direct correlation between positive goal differential and winning percentage.

An example of an inverse correlation would be as interest rates go up, the demand for loans goes down.

The mistake that too many people make is to not understand that without enough data, you don’t know if there is a direct, inverse or unrelated correlation.

An example of an unrelated correlation would be if a student passes a test and it is sunny outside. While those two facts might be true, it would be difficult to show any connection between the two facts.

Too often we make assumptions based on incomplete data and as a result end up interpreting data to be connected when it really isn’t.

Just a thought.

have a great day!

Lawrence

## Simplify

Somehow people get the impression that the more complex something is the more valuable it is.

Real value comes from taking something complex and figuring out how to simplify it.

Taking the simple and making it seem complex might make some people feel better about themselves, taking the complex and simplifying it can change lives.

Have a great (and simple) day!

Lawrence

## Would you rather be right?

Would you rather be right or be successful?

Are you willing to endlessly argue to prove your point rather than accepting someone else might be right and move toward success?

Do you sabotage your efforts rather than concede someone else’s approach might be better?

Accepting other peoples approach might allow you to do things quicker, better and be happier…but would you rather prove you are right instead?

Have a great day!

Lawrence

## Being a better customer

We all want excellent service and are disappointed when we don’t receive it.

Have you ever thought about how to be a better customer?

If you make reservations, be on time.

When you speak with the employee, treat them the way you would want to be treated.

Don’t expect something special because of “who you are” rather offer something special because of “who you are”.

Realize many businesses are cash strapped these days so if you order a product or service, be prepared to pay for it in a timely manner.

It’s easy to complain about bad service but do you go out of your way to compliment people for good service?

I regularly hear complaints about employees at various establishments but with very few exceptions I rarely experience anything but excellent service. I’m not sure why other then I try to treat people like I would want to be treated (or even better).

If you are regularly receiving bad service, consider that it might be as much on your end as theirs.

Have a great day!

Lawrence

## The tough decision

Your business is booming. There is too much demand and not enough supply.

The first thought frequently is to look to expand in order to meet the demand.

Keep in mind the alternative is to raise the price which might slow down demand but allow for a significantly higher profit margin.

Too often we look to increase quantity sold to increase revenue rather than increasing pricing even though the latter might be much easier and much more profitable.

Have a great day!

Lawrence

## Take the other side

When people argue about an issue, they force themselves more and more into a corner. The more they argue for their side, the less they consider the other side.

Sometimes it might make sense to argue for the other side. See if you can convince others, as well as yourself, that the other side is correct.

This is different than playing devils advocate, that is when someone is trying to argue against a point, I’m suggesting that rather than arguing against a point, argue for the other side.

You might be surprised by what happens.

Have a great day!

Lawrence

## When impossible becomes possible

Why bother trying to do the impossible? If it’s not possible, aren’t further attempts fruitless?

The other way to look at this is many things were impossible until they were possible. Running a mile in under 4 minutes was impossible until it was done and then it became very possible.

Landing a rocket and then relaunching that same rocket was impossible until it was done and then it became very possible.

What are you working on that is impossible and when will you make it possible?

Have a great day!

Lawrence

## Apathy

People suffer from apathy because it’s sometimes the safe choice.

They keep the job that they aren’t happy with because it’s easier than finding a new one.

They keep doing the same thing because, while they aren’t happy doing it, the alternative might be worse.

Personally, I think apathy might be worse than anything else.

Wouldn’t you rather be excited at trying something new (even if you fail) than being apathetic at the same old thing?

If we are apathetic with our lives, why not change them?

Have a great day!

Lawrence