Marketers usually classify businesses as B2B (business to business) or B2C (business to customers). I believe, there is only one kind of business P2P (people to people) and this is what counts.
Excellence wins is an amazing book by Horst Schulze, who led the Ritz-Carlton group of hotels. Boy oh boy, it is a fun and easy read. Just pick this up and read it. There are so many beautiful pieces of stories and takeaways that one can quickly adapt to our lives.
This book as validated my beliefs even more. I could share so many learnings from this book but this time I am going to break the rule and share the Eight key questions.
In chapter 14 Horst talks about eight key questions any leader who runs a business or is contemplating to start one needs to have answers to.
- Make a decision about what industry you are going to enter
- Decide which market segment of this industry you’re going to pursue – budget/bargain, mid-range, top-end
- Zero in what customers want in this market segment
- Start figuring out how to meet those desires as efficiently as possible
- Think about how you’re going to let the customer individualise or customise their experience
- How are you going to give your employees a sense of belonging, of buy-in, to the work
- Plan how you’re going to accurately measure what you’ve set out to accomplish
- Are you fully committed to making this happen