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.