A true story – is hard effort really worth it?

Some wisdom from Australia.

An economics teacher at a local school made a statement that he had never failed a single student before, but recently failed an entire class.  Here’s the story:
His economics class insisted that Gillard/Brown socialism worked, that society where no one would be poor and no one would be rich was the great equalizer.  The teacher then said, “Okay, we will have an experiment in this class on the Gillard / Brown plan.  All grades will be averaged, and everyone will receive the same grade, so no one will fail and no one will receive an A.”  
After the first test, the grades were averaged and everyone received a B.  The students who studied really hard were upset, and the students who studied little were happy.
The second test rolled around, and the students who studied hard were tired of giving everyone else a free ride, so they studied a little less.  The ones who studies little also studied even less.  Average grade was a D!  No one was happy.
When the third test rolled around,  the average grade was an F.  As the test proceeded, the scores never increased and the bickering, blame and name-calling resulted in hard feelings — nobody would study for the benefit of anyone else.
To their great surprise, ALL FAILED and the teacher told them that socialism would ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away and gives to those who do nothing, nobody will try or want to succeed.
The lessons for us?
1)  one cannot legislate the poor into prosperity by legislating the wealthy out of prosperity
2)  we cannot multiply wealth by dividing it!
The interesting last thought…….. there is a test coming up.
 The next election.
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Invest in Customer Service – it’s just like a bank account

CUSTOMER SERVICE – everyone uses the buzzword these days.  So WHY is servicing the customer such a big deal?

Think of your customer relationship as a bank account.

Everything you do for the customer will impact your business, either positively (like a “deposit”) or negatively (like a “withdrawal”)

a)  How do you INVEST in your customer?

– get to know their likes and dislikes

– anticipate their needs ahead of time

– follow up on queries or complaints

– go the extra mile to exceed their expectations

b) What are the benefits of investing? 

– Increased revenue opportunities

– Increased competitive edge

– Stellar reputation

“I’ll buy more accessories or added services”

“I’ll buy from you again next time I need something!”

“I’ll recommend you to my friends and associates”

“I’ll ask you to provide other, new services if I trust you”

                                        $   $   $   $   $   $   $   $

c) What are the negatives, or WITHDRAWALS on customer goodwill?

– Be sloppy, late, and deliver low quality in your product/service

– Ignore the customer’s complaints

– Don’t provide warranty or “fix” your mistakes

c) What is the negative impact to you?

– Corporate revenues will decline

– Your reputation will be tarnished

– your competitive edge will erode

“I’ll tell everyone about the bad service I received”

“I’ll never come back again”

Remember that every negative event can have up to nine times the impact as a positive event — investing constantly in customer service is essential to maintain your business.

Pay constant attention:  you can go from “hero” to “zero” by one bad episode that sticks in a customer’s memory. 

Bottom Line:  Invest in great moments for your customer, and watch your business take off!


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