Ep. 181 - A Standard of Excellence [Business 300]
FLF, LLC
FLF, LLC
4.7 • 957 Ratings
🗓️ 28 April 2025
⏱️ 5 minutes
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Summary
A standard of Excellence is reliable ground to make sure that you not only continue to serve your customers in the best way but innovate new ways to serve them better. If your aim is to exceptionally serve your customers, the standard for that service is excellence. You aim to make things better.
In this way, you make your competitor irrelevant. Sure, you should be aware of what they're doing, and what they're doing better than you. But also, you keep prodding at your work to serve your customers in your context. What can you do to improve your value-offering as you seek to get better on your own?
And, you also make short-term customer complaints irrelevant. Maybe these customers are right. But they're not. Either way, you are working to improve your offering and provide better value. Sometimes reacting to immediate complaints will set you off course and destroy the effort you need to make. Be driven by sustainable, focused, and disciplined effort to make your business better, as you pursue a standard of excellence.
Transcript
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| 0:00.0 | Hello and welcome to Business 300. |
| 0:10.0 | My name is Philip Kulenshov and this is 300 seconds about business. |
| 0:13.0 | We're all a busy people, so I have five minutes or less to get my point across. |
| 0:38.1 | This won't take long. There isn't any time to waste. The drum I keep banging here is that every business exists to provide value to a customer. That's what a customer is, a value recipient. The product or service that your business provides is valued by someone else. That's why that person is your customer. The entire business must revolve around value delivery. The way your systems and |
| 0:43.5 | processes are set up, the way the roles are defined, the way the work is done is to all converge upon |
| 0:49.1 | value delivery. The work of delivering value has standards. We typically aren't where we want to be, and so we need to get |
| 0:55.9 | there. We build our business towards a certain ideal. This is what improvement is. You improve your |
| 1:01.5 | business in order to deliver better value, deliver more value, or deliver it better. You drive the |
| 1:07.7 | improvement effort towards a standard and ideal. |
| 1:12.4 | But what sets that ideal? |
| 1:16.2 | Some business owners are constantly chasing their competitors. |
| 1:21.0 | Their standard of value delivery is the other guy who's trying to serve the same customer. |
| 1:23.6 | I need to do this because my competitor is doing it. |
| 1:26.7 | Or I need to do this because my competitor isn't doing it. |
| 1:27.9 | Whatever the outcome, |
| 1:33.0 | the motive always revolves around the competitor. They obsess about what the other guy is or isn't doing. This isn't a sustainable way to run and build a business. You should most definitely |
| 1:37.4 | be aware of what your competitors are offering and what they're missing, but that's not |
| 1:41.0 | necessarily what should drive your improvement effort. Your context is different. |
| 1:45.6 | Your team is different. |
| 1:46.9 | Your strengths, weaknesses, opportunities, and threats are different. |
| 1:50.4 | You should be aware and insightful as to what hand the other players at the table are holding. |
| 1:55.6 | Be paying attention to how they're playing and, sure, let that influence your decisions. |
... |
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