What could your learn from ‘Rocket: Eight Lessons to Secure Infinite Growth’ by Michael J. Silverstein (2015, 320 pages)
In this book Michael, the Managing Director of BCG (a world famous strategy consultancy) argues that passion = knowledge = sales = profit. He also states that the most important thing when purchasing is the reason for use, and so this is what you have to focus on to satisfy, or even delight, your customers. He also outlines his 8 lessons that companies need to follow to ensure that they continue to grow.
1. Don’t ask customers what they want, because they don’t know until you show them
2. Woo biggest fans as they are worth it. 2, 20, 80, 150 (2% of customer are responsible for 20% of sales, 80% sales through word of mouth and 150% of profit)
3. Always welcome customer scorn/feedback as it makes you stronger
4. Looks do count (aspirational)
5. Transform you employees into passionate disciples
6. Ramp up virtual relationships
7. Take giant leaps as you are not going to lead with timid steps
8. Relationships are not stable. Brands will head up or down. Know what is happening to your brand
Read this book if you are an executive, or want to be an executive one day. While infinite growth is physically impossible, Michael’s ideas and lessons are well supported and the result of decades helping business constantly adapt.