Beyond Profit: The True Purpose of a Customer-Focused Business
The purpose of any business must lie outside of itself. It should be deeply rooted in the community where people live, operate, and interact to thrive and grow.
In essence, the most valid purpose of a business is to create a customer. Without customers, there is no business.
What is a Customer?
A customer is someone who needs or wants a solution to a problem, which can be provided through products, services, or a combination of both. Sometimes, customers might not even realise they have a need, and this is where effective marketing and sales come into play.
Successful businesses always place the customer at the centre of everything they do. They leverage and maximise their core strengths, capitalise on opportunities, and mitigate risks as they develop their products and services.
Two Key Types of Customers
- External Customers: These are the individuals who consume and pay for the products or services. They often have problems that they cannot solve on their own due to a lack of skills, knowledge, or time. The role of the service provider is to address these obstacles and challenges and simplify complexities. This then becomes the foundation of the value proposition. Customers determine the value of the proposed solutions based on the strength of relationships, timely delivery of outcomes, cost, and other attributes.
- Internal Customers: These include employees and contractors within the business. Staff have their own needs and wants, such as trust, fairness, clear purpose, visibility of their impact on external customers, appreciation, transparent communication, and opportunities for training and skill enhancement.
A high-performing and engaged team enhances a business’s ability to deliver superior products and services, boosting brand reputation and market differentiation. This, in turn, increases the chances of growth, sustainability, and long-term success.
Conclusion
By focusing on both external and internal customers simultaneously, businesses can foster an environment that promotes growth, prosperity, and endurance over time.
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