Business Archives

When to Fire an Employee Who Is Only “Good Enough”

How do you know when to fire an employee? Why should you fire employees who are “good” but not “great”? At Netflix, Reed Hastings’s policy is to fire an employee even if they haven’t done anything wrong. He treats his company like a sports team—you will be replaced if the company finds someone better. This may sound harsh, but it’s part of the reason why Netflix is such a successful company. Here’s why Netflix lets go of adequate employees and how to manage the potential pitfalls of this practice.

Raving Fans: Book Review, Background, and Context

What is the book Raving Fans about? What are the book’s strengths and weaknesses, and how was it critically received? In Raving Fans, management experts Ken Blanchard and Sheldon Bowles argue that successful organizations have one common central focus: providing an excellent customer service experience. And that any type of organization or business that serves people can benefit from these principles to create “Raving Fans.” Here’s our Raving Fans book review.

Blue Ocean Strategy: Pricing to Maximize Revenue

How is pricing determined in the blue ocean strategy? What are the benefits of low-cost pricing? Blue Ocean Strategy authors W. Chan Kim and Renée Mauborgne advise setting your price to maximize the number of buyers in your market. In other words, you want to select a price that will make your product attractive to as many potential customers as possible. Keep reading to learn about the blue ocean strategy pricing approach.

Surrounded by Idiots: The 4 Types and Body Language

In what ways do Red, Yellow, Green, and Blue personalities act differently? How can understanding the body language of each type help prevent misunderstandings? Thomas Erikson writes in Surrounded by Idiots, the 4 types of personalities each use body language differently. A Red might lean forward while speaking to you, while a Blue might stand back and cross their arms. If you know what to expect from a person, then you won’t misinterpret their feelings. Here’s a breakdown of the body language of each of the 4 personality types.

What “Ideal Customer Service” Looks Like

What does it mean to have ideal customer service? What steps can you take to ensure your customers leave your business happy? In their book Raving Fans, Ken Blanchard and Sheldon Bowles argue that successful organizations have one common central focus: providing an excellent customer service experience. In their business fable, they outline what the ideal customer service experience looks like and five questions you should ask yourself as a business owner. Continue reading to learn how to improve customer service at your company.

Surrounded by Idiots: Quotes by Thomas Erikson

Are you looking for Surrounded by Idiots quotes? How can understanding these quotes help you better understand Erikson’s message in the book? Erikson’s framework includes four personality types, and each has a unique way of thinking, behaving, and communicating. He shows you how to navigate conflicts, sharpen your communication, and improve your relationships with your boss and colleagues—all by recognizing their personality types as well as your own. Here are some top quotes from the book with explanations.

How to Satisfy Both Internal and External Customers

What’s the difference between internal and external customers? How can you figure out what each type of customer wants? Management experts Ken Blanchard and Sheldon Bowles explain in their business fable Raving Fans that, in order to satisfy both your internal and external customers, you first need to find out what they want. That’s why feedback is so important to a business. Here’s how to satisfy both types of customers.

Personality and Communication: The 4 Different Styles

Do you work with a wide variety of personalities? Do you ever struggle to interpret their emails or tone? Thomas Erikson, the author of Surrounded by Idiots, categorizes people into four personality colors: Red, Yellow, Green, and Blue. Each personality has unique characteristics and behaviors that can sometimes make working together difficult. Here’s how to better understand the connection between personality and communication style.

Exceed Customer Expectations to Gain Loyalty

Does your business exceed customer expectations? Why isn’t it good enough to simply meet customer expectations? In their business fable Raving Fans, management experts Ken Blanchard and Sheldon Bowles say that, if you want to create “raving fans” of your business, you need to go beyond meeting expectations. It’s only when you exceed a customer’s expectations that they become loyal to your company. Here’s why you should aim to exceed rather than satisfy.

How to Create Loyal Customers in 5 Concrete Steps

How can you turn casual buyers into loyal customers? What does customer service have to do with loyalty? The book Raving Fans by Ken Blanchard and Sheldon Bowles is all about the importance of exceptional customer service when it comes to building a customer base. The business fable outlines the importance of going beyond what is “satisfactory” so customers will keep coming back. Here’s how to create loyal customers in five steps, according to Raving Fans.