Putting Your Customers' Needs First

have on their customers being served. Selfishly or not, these big investors’ main interest as well as our main interest as individual retirement fund investors is in making a buck! Unfortunately, the WorldCom’s, Tyco’s, the Enron’s of the world represent the ugly extreme cases of what can go wrong in an “investor focused” company if one allows greed, personal ego, “cooking the books” and “bending the rules” dictate the growth and direction of the company no matter how well intended the purpose.

Employee Focus

Sounds great to have a company built around the employee’s best interests doesn’t it? Good wages, job security, great promotion opportunities, guarantee of a lifetime job, superb medical and disability benefits, extended paid vacations with family leave options plus a great savings and retirement plan … what’s not to like about this deal! The problem is there must be a sustainable business to finance these “employee benefits”. Unless you are working for the government, it is unlikely that you will encounter this lifetime dream. Jobs are usually built around a business model whereby certain goods and/or services are provided to a consuming public. The business might be geared to serve consumers directly or to serve other companies’ needs. In either case, the business’s existence usually depends upon their ability to serve their customers’ needs...not their own self-interests. Most large employers tend to be publicly owned and thus are subject to shareholders’ needs and interest … which usually relate to earning money proportional to their investment in the subject company…either in ever increasing stock valuations and/or regularly paid dividends. Privately owned companies and partnerships and sole proprietor companies also have financial obligations to their respective ownership groups. Perhaps more importantly, companies must have a purpose and a masterplan to survive much less thrive in a competitive environment. A quality product or service available at a reasonable price provided in a timely manner is usually a good starting point. Good, well-trained employees who are motivated to provide good service are an essential part of the equation for any good business to be successful in the long-term. You can have the best compensated and motivated employees in the world, but you better also be offering competitive products and/or services that are in demand in the marketplace or you will not be in business very long.

Customer Focus

Most companies were founded to provide a specific need in the marketplace…whether a product or service. As companies grow, they usually enhance and expand their offerings for their original target audience, modify or expand their original offerings for a different set of customers or even create new products and/or services for a totally different group of customers.