Fred Reichheld—The Shocking Difference Between Good and Bad Profits

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 25 October 2021

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s two words that can propel your business forward—but most businesses refuse to deal with them. And it’s costing them cash. Those two words? Customer feedback. The problem is, most businesses have no idea how to ask for it from customers without using another boring survey.

My guest today, Fred Reichheld, is a New York Times bestselling author and business strategist known for helping people like you create a loyal base of raving customers. (And I know you want that for your business!) Say hello to proven ways to get the customer input you need to create new products and services that make you more money. Plus, Fred shares the difference between good and bad profits -- and it will absolutely transform the way you see your customers.

3 MONEY-MAKERS:

Know the difference between good and bad profits
Ask yourself, “What’s in this for me?” That’s what your customers want to know.
Try a one-question survey with an open-ended comment box

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Transcript

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0:00.0	When employees start thinking of their mission in life,
0:03.1	is to improve the lives of the customers they touch.
0:07.0	It no longer becomes a pure financial transaction.
0:11.4	It becomes how you build meaning and purpose
0:14.2	in your existence.
0:15.5	That act of service to others
0:17.7	is the key of all good relationships.
0:20.2	And in a business community,
0:22.1	one of the special things that can offer is measurement
0:25.0	and feedback to know how often you're enriching
0:27.7	the lives you touch.
0:29.0	And it inspires teams to want to do more of that.
0:32.4	It's sort of like a drug, but it's good for you.
0:34.7	And it's addictive.
0:42.4	Welcome to Good Money, where we believe money is not bad
0:45.6	and good people should have more of it.
0:47.8	I'm your host, Derek Kenney.
0:49.9	There's one word that has the power
0:52.4	to propel your career and business forward,
0:55.7	but many people refuse to deal with it.
0:58.7	And it's costing them cash.
1:00.8	Wondering what the word is, feedback.
	...

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