199. Create – Targeted, Additive, Service – Vigorish

AmazonBusiness, Index, Profit Analytics

Vigorish?

Vigorish (“vig”) is the fee charged by a bookmaker (casino or loan shark) for accepting a gambler’s wager. For roulette, gamblers bet on 1- 36 possibilities. The wheel, though, has 38 slots that include 0 and 00. When the ball lands in the 0’s (2/38th or 5.26% of the time) the house takes in all bets. With a 5%+ edge and time, the house prospers.

What if your company had several, service-value edges over the competition? Or, conversely, would you want to compete against a firm that has big, additive, value and/or cost edges over you? Two cases.

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196. Praise Tight-Wads: Get Smart!

Concierge Customer Service, Core Renewal, Index

2019 Survey Results on: “The Gratitude Gap”

  1. Glassdoor exit survey: “81% of people…work harder when their boss shows appreciation for their work. Only 38% report working harder when their boss is demanding” (Before they “exit”!)
  2. Millennials and Gen Z desire “expressions of gratitude” 3X more than folks in their ‘60s.
  3. Managers, who are stingy with praise, believe in one or more of 7 myths. What’s their cure?

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195. ‘New Normal’ Is a Complete Fantasy

Core Renewal, Distribution Strategy, Index

Friends,

Find below a fun, insightful and right-on body of advice from Bill Wade. Bill is a career consultant, operator and writer for (most narrowly) the heavy-duty-truck parts and automotive parts channels. Known him for years. (Personal bias alert.) He is an excellent value-added editor of my stuff and others.

We are all in for tough times, but your competitors will really suffer if not disappear, IF you execute on Bill’s advice.

Onward!

Bruce

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