What business are you in? I’m not asking what sector of the economy you serve (for example, healthcare, retail, financial services). I’m asking if you are in a product-focused business, a service-centric business, or something else?
I’ve been fortunate to work with leaders at Starbucks and write two books about the company (The Starbucks Experience: 5 Principles for Turning Ordinary into Extraordinary and Leading the Starbucks Way: 5 Principles for Connecting with Your Customers, Your Products, and Your People). At the time of those writings, Starbucks CEO Howard Schultz shared a somewhat unexpected perspective on his company: “We are not in the coffee business serving people; we are in the people business serving coffee.” By emphasizing the rich “human” experience at the core of Starbucks, Howard reinforced an enduring principle of success: “All business is personal.”
Given that you picked up this book, I’ll assume you already see yourself in the “people business” and appreciate that Airbnb can offer insights on interpersonal connection. You likely understand that sustainable success involves creating value for the people you call customers by providing value to the people you call colleagues, team members, or employees. To be effective in business as well as in life, we must develop skills to understand, meet, and even exceed the needs of those we serve.
Despite the importance of determining the motivations, wants, and needs of others, many business leaders only seek to offer practical benefits through the features and attributes of the products and services they provide. In the process, leaders often neglect the unconscious, emotional, psychological, and social needs of the customers and employees they serve.
This story is from the October 2019 edition of Indian Management.
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This story is from the October 2019 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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