My first MD was a very shrewd, if difficult person. He was very good at giving one line statements which meant a lot to him, but as yet I did not have the experience to understand what he meant.
One of his throwaway lines was “Never Fall in Love with the Asset”, which at that stage I did not know what it meant.
Many, many years later we created a unique enterprise that was modelled on the Orient Express and was in effect a restaurant training utilising historic carriages. All my knowledge of marketing operations, promotion, branding, service, people were integrated into this one venture. It received accolades, awards and was a truly unique experience.
We measured customer satisfaction by contacting all passengers and they gave us rave reviews with an excellent satisfaction ratio of 94%. Unfortunately, it lost us a lot of money.
Why……… I was in love with the asset, and making emotional decisions rather than rational ones. How many times do we do that in business?
The message is, if we are in love with the asset, either get rid of it or change your behaviour towards it.
In John Groups there are no competing businesses so members can explore and work on ideas openly and honestly. Members are challenged and kept accountable for growing their business. Expert speakers and members contribute ideas and work on issues to help everyone.
Contact Us to enquire about your closest John Group and see if John can help you and your business.