Tag: incentives

Leadership

How Not to Slowdown Progress

Leo Szilard, in his book – The voice of the dolphins, and other stories has a short story titled The Mark Gable Foundation. In this short story, there is a conversation between two characters, one of who thinks that the pace of scientific change is too fast and is seeking ideas on how to slow it down. Here is their exchange: “I’m thinking of setting up a trust fund. I want to do something that will really contribute to the happiness of mankind; but it’s very difficult to know what to do with money. When Mr. Rosenblatt told me that […]

Strategy

Fueling growth from existing customers

It is a well known fact that it is much more expensive to acquire a new customer than retaining an existing customer. But as they say, common sense is not so common. We find that businesses are going out of their way to attract new customers by offering them great deals. I do not think there is anything wrong in this, but when you exclude the offer to your existing customers, you are inviting trouble.  This is a very important reason for customer loyalty to become so rare. There does not seem any  benefit for customers to remain loyal anymore as […]