Business Daily from THE HINDU group of publications Monday, Apr 09, 2007 ePaper |
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Mentor
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Interview Columns - Author, Author Build the business
John Moore
Meet John Moore, the author of Tribal Knowledge, a book that brims with `tribal truths' gleaned from the success of Starbucks. Here's his take on a few questions from Business Line: Are there tribal truths that can be useful for manufacturing companies? My experience at Starbucks tells me more businesses should worry about building a business more than building a brand. Why? Because "Building the Business Creates the Brand." If a business makes a profit, makes customers happy, and makes employees happy, chances are they will have created a strong brand. I also think more business should follow the Starbucks tribal truth of "Be the Best and Not the Biggest." Starbucks' steadfast drive to become the best coffee retailer resulted in its being the biggest coffee retailer. It can often work out that way but it never seems to work in reverse. Companies that strive to be the biggest almost never end up being viewed as the best. What insights should be apt for service sectors such as telecom and travel? "Actions Speak Louder than Advertising." So many businesses want to spend their marketing dollars on creating better television commercials. A more endearing and enduring way is to spend marketing dollars on making better products and services. The actions a company takes in better meeting customer needs/wants will always deliver longer-lasting results than any heavy-up advertising campaign. On whether our politicians too can benefit from tribal truths! Yes. The one that comes immediately to my mind is "Over-deliver on All Promises." When businesses, or politicians, follow through on the promises they've made, they're displaying an integrity that's necessary to building trust. Ultimately, how a politician follows through on his promises is a reflection of the character of that person and it shows voters how much that person cares and wants to make a difference.
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