Monday, May 21, 2007

Random Quote - The Ultimate Equation

"The business equation is simple: Profit equals revenues minus cost. Or maybe it is slightly more complicated: Long term profit equals revenue from continuously happy customer relationships minus cost."
Tom Peters, Thriving On Chaos

1 comment:

pr0b0b0 said...

Great quote!
It's also worth noting that the costs are not just operating costs. There is a massive hidden cost associated with customers who do not have a continuous happy experience.

How many examples are there of poor service that causes once happy customers to become critics that actively go out of their way to spread the bad news!

'Lifelong' is a powerful term .. both ways!