“I'm making a case against how money managers are handling customers' money. The objective of the customer is not being met if the fund managers are diversifying their assets into hundreds of businesses. If they do this, they are typically performing close to the indexes. But that's not the way wealth is created.” IfsWayWealthCasesMetsCustomersObjectivesManagersPerformingFundAssetsBeing Me Author:Michael Lee-Chin
“Customers don't know what they want. There's plenty of good psychology research that shows that people are not able to accurately predict how they would behave in the future. So asking them, 'Would you buy my product if it had these three features?' or 'How would you react if we changed our product this way?' is a waste of time. They don't know.” PeopleIfsKnowsWayWantShowsAbleThreePsychologyChangedProductsWasteResearchAskingCustomersPlentyFeaturesBehaveWasting Time Author:Eric Ries
“Forcing your employees to follow required steps only prevents customer dissatisfaction. If your goal is truly to satisfy, to create advocates, then the step-by-step approach alone cannot get you there. Instead, you must select employees who have the talent to listen and to teach, and then you must focus them toward simple emotional outcomes like partnership and advice....Identify a person's strenths. Define outcomes that play to those strengths. Find a way to count, rate or rank those outcomes. And then let the person run.” IfsWayPersonsPlayRunningGoalSimpleStepsTeachFocusAdviceTalentEmotionalApproachRateCustomersOutcomesEmployeePartnershipSelectDissatisfaction Book:First, Break All The Rules: What The Worlds Greatest Managers Do Differently Source: First, Break All The Rules: What The Worlds Greatest Managers Do Differently