“Find out what needs your customers want fulfilled today. Then determine how well you are meeting those needs.” — Peter Drucker The annual J.D. Power customer satisfaction survey results are in and as usual, there are important insights to be derived from firms in the top positions. The Number 1 rated company in the study […]
“All organizations need a discipline that makes them face up to reality.” — Peter Drucker In my experience, companies attempt to correct sales problems by either adding more salespeople, training the sales staff or demanding better leads from marketing. While these solutions work at times, just as often they will not be successful because the […]
“The responsible worker has a personal commitment to getting results.” — Peter Drucker As the financial landscape continues to shift, big banks have certainly capitalized on market share but the bigger story I’m hearing is about the astonishingly poor customer service levels delivered by some of the industry’s major players. Financial companies who ignore or […]
“The customer never buys a product. By definition, the customer buys the satisfaction of a want. He buys value.” — Peter Drucker It’s a pattern that’s repeated often in the financial sector: New leadership is brought in and given a short time frame to boost results. As products and price points in the industry become […]
“Continuous improvements in any area eventually transform the operation.” — Peter Drucker If the industry forecasts are even half right, we know business is going to be tougher next year. Working harder won’t be enough to make a difference. Working smarter will. Now is the time to invest in training and education. Evaluate your team’s […]
“The first and crucial question in defining business purpose and business mission is ‘Who is the customer?’” — Peter Drucker It’s hard to believe we’re only 60 days out from 2010 but here we are. If you haven’t done so already, right now is the perfect time to put together a plan to succeed in […]
“People are a resource and not just a cost.” — Peter Drucker Managers everywhere are keeping an eye on various industry forecasts for 2010. While many firms had a successful year due to the refinance market, some of the predictions for 2010 are not for the faint of heart. Analysts in one report believe that […]
“Crossing the divide into the new realities.” — Peter Drucker While the recent refinance market has helped many financial companies and producers have a successful current year in production, change is on the horizon. According to an MBA forecast for 2010, the refinance market is receding and the industry is moving toward a traditional business […]
“Some of the greatest impediments to effectiveness are the issues of yesterday, which still confine our vision.” — Peter Drucker In nearly every industry segment, I see companies holding on to a “sales by the numbers” strategy where management believes if enough sales professionals are hired, some of them are bound to produce. Sales by […]
“No organization can do better than the people it has.” — Peter Drucker The way I see it, sales managers who want to improve profitability have two choices: reduce costs or increase revenue. While cutting expenses is a great start, you can only go so far with these efforts. The next step is to increase […]