Startup Lessons Decoded: Real Stories and Insights
The startup journey is a bumpy one.
After guiding multiple mergers and acquisitions, Iโve gained some practical insights that lead to saved time and costsโand growing a business.
This series of four posts looks at startup journeys and key learnings from working with successful founders.
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The founder of a growing B2B services firm was frustrated by constant client calls as distressed customers reached out at all hours to complain.
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Some weeks, he spent over 10 hours on the phone, disrupting plans, impeding growth, and even interrupting time with his young children.
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While customers expressed frustration over errors, it was non-technical issuesโsuch as poor communication and missed deadlinesโthat truly upset them.
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These problems caused extra work and headaches to quickly resolve the issues and diligently rebuild the trust.
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Meanwhile, the team faced challenges too as they waited for essential information and responded to numerous non-billable inquiries.
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โThe goal as a company is to have customer service
that is not just the best but legendaryโ
โ Sam Walton, founder of Walmart
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We contacted many customers and asked how things were going, what could be improved, and what were their plans.
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As patterns emerged, we highlighted these trends in meetings and trained on case scenarios and best practices.
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We acknowledged the pressures clients face while also emphasizing the importance of setting clear expectations around interdependencies, such as when we need prompt responses from clients.
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A great working relationship is built on openness and collaboration.
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Timeliness and Responsiveness
Imagine waiting for someone on a first date. Even if the person is wonderful, waiting over 15 minutes creates a terrible first impression.
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Similarly, we discussed with the team the importance of quick responses and providing updates.
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You don't need to have the full answer immediately, but it's crucial to respond promptly and acknowledge that you're working on the issue.
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We then shifted from a reactive approach (reaching out after complaints) to a proactive one by meeting all new customers shortly after kickoff.
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Proactive Engagement
Finally, we began presenting customers with useful reports and insights in exchange for learning about their feedback and business plans.
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We also organized online learning events and published blog posts to share new perspectives and information.
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These "gifts" have been well-received. Imagine your feeling if someone offers you something useful.
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Client retention has improved, and most importantly, the founder can now focus more on growth, margins, and his family.
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Deepening client relationships will lead to increased retention, more upsells and referrals, and a competitive advantageโall of which contribute to a desired exit.
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This post was written by me with AI editing. Photo by Rodrigo.
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