Entrepreneurial Journal
Week 7:
This was a very
interesting week, the topic that we were to discuss about Zappos was
enlightening. I liked how it showed me how important it is to get the right employees
into your business. Zappos is willing to pay thousands of dollars to be sure of
just that. I don’t know whether new or small businesses can’t afford the
thousands of dollars they might lose using this program or if they can’t afford
not to do it to get the very best employees possible.
We also learned
about caring for our customers and the importance of doing so. The two tie
together because the very best employees will take good care of your customers.
But if we want to be successful we need to build long term consistent
customers. If we do that we will get more value out of each customer and cut
back on costs by not having to constantly replace customers. The importance of
repeat customers comes from the 3 R’s Retention, Related goods, and Referral.
All three of
these are important and they each go over why it is such a good idea to treat your
customers well and keep them walking in your door. If you retain them you don’t
have to get them back or replace them, if they are repeat customers they are far
more likely to buy related goods the next time they come and a positive
referral is not only free but the best kind of advertising.
