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Chuck Wall - Stop, Look, & Listen: The Customer CEO Business Fable About How to Profit from the Power of Your Customers

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Sales have dropped precipitously. The board is meeting next week. Bob, founder and long-time CEO, is urged by his team to hire an expensive management consulting firm and drastically cut costs as a last ditch effort to improve the companys bottom line.

Stop, Look, and Listen is the story of how Bob puts the principles put forth in Chuck Walls Customer CEO: How to Profit from the Power of Your Customers to work. Bob has been running his company as if he controls the customers. Bob is urged to Stop, Look, and Listen, because today, the customers are in control. They are the bosses, the Customer CEOs, and they control the companys destiny.

Bob must learn to understand his customers needs, and more importantly, embrace their power. The three essential steps are to STOP seeing things from the corporate CEOs point of view, LOOK at everything from the customers point of view, even when it hurts, and LISTEN deeply for what the customers needs are. This short, entertaining business tale chronicles Bobs ultimate recognition of his customers as CEOs.

Author Chuck Wall is an expert in understanding the needs of customers, having interviewed and surveyed more than 100,000 of them in virtually every business category. Chuck has helped hundreds of companies, from the Fortune 100 to start-ups, acquire hundreds of thousands of new customers.

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About the Author Chuck Wall is the founder of Customer CEO the Austin-based - photo 1
About the Author

Chuck Wall is the founder of Customer CEO, the Austin-based customer research, engagement and marketing firm. He is the author of Customer CEO: How to Profit from the Power of your Customers (Bibliomotion 2013). A serial entrepreneur, Chuck has started seven other enterprises across multiple industries. Hes an expert in understanding the needs of customers, having interviewed and surveyed over 100,000 of them in virtually every business category. Chuck has helped hundreds of companies, from the Fortune 100 to start-ups, acquire hundreds of thousands of new customers. He is a contributor to Forbes and Fast Company , writing about the future of business and, of course, customers. He blogs at customerceoconsulting.com and tweets @customerceo.

How to Put Stop, Look, and Listen to Work

The ideas, frameworks, and tools discussed in Stop, Look, and Listen are yours to make your own. I encourage you to shape these ideas so that they fit your business. Then put them to work as soon as possible.

As an entrepreneur, I was more like Bob than Angie for too many years. And as a longtime advisor and mentor to many other companies, I have seen behavior like Bobs more times than I can count. We are taught to keep running so we can stay ahead of the competition instead of stopping long enough to see if there are better alternatives. We tend to be company- or career-centric, asking only whats in it for ourselves. And, to make matters worse, we often take our own counsel and tend to ignore the people who could make our lives a lot easier in the long run, our customers.

The companies I selected for Bob and Angie to run were metaphors for both sides of the customer coin. Goliath Sounds should have been about listening, though it clearly failed to do that. On the other hand, Kiwi was about rethinking, rebuilding, and renewing.

This is what you can do in your business career, whether you are going solo, turning around a sleeping giant, or continuing to build a truly innovative organization. By listening, you will always be surprised at what you will learn. Then the question is: What will you do with the insights?

I invite you to learn much more about the journey to putting the customer in charge at customerceoconsulting.com. Our site is filled with tools, tips, and trends that will help you profit from the power of your customers. We look forward to helping you there.

Chapter 1
Change

C raig was a man with a plan as he knocked on Bobs open door. Bob pointed at a chair across from his round office conference table.

Craig got right to the point. You said to wait until we saw how the quarter was going to shape up, and now you see. Weve got to put the plan in place right now, Bob. I wish it was different, but its not.

Bob was lost in thought as he stood near his beloved captains wheel. It had been rescued from an 1870 naval vessel dubbed the USS Goliath . Bob had purchased it nearly twenty years earlier at an auction, and it served as a reminder of who was in charge at the companyjust in case there was any doubt.

There are some good folks here, Bob, but if they knew what to do, they would have figured it out by now. I know you love this get the best folks on the boat deal, but it isnt happening. And the board is going to make someone walk the plank, my friend.

Bob was sick to death of the boat metaphors used so freely by Craig and other Goliath managers, but he had only himself to blame. He made a mental note to stop the boat talk in his next career.

Craig continued. Ive already talked to a consulting firm that can help us get this thing fixed. And the best news is that it will buy us time.

This last point got the first reaction from Bob.

Look, Bob started. I cant think about this in terms of how much time we have. Ive always done this based on my gut. I have always instinctively known the next move to stay ahead, and I just dont think some consultant will have a clue. Were not selling soap or software. They wont know anything about us. I think weve got to figure this out ourselves.

This was the Bob way: grab the problem by the horns, wrestle it to the ground, and move on. It was what hed learned growing up in Montana on his familys cattle ranch, and it was how he had built Goliath. In college, Bob had created his own brand, which he liked to call The Legend of Big Sky Bob. The story revealed Bobs rugged, go-it-alone approach to life and work. His story made him seem bigger than life, which was a good thing to have when you were a scrapping entrepreneur. It had served him well when raising money, wooing customers, and recruiting employees.

Craig was resolute in his response to Bob. These guys are strategy gurus. Youve done a great job building this by the seat of your pants. But it doesnt matter whether they know anything about what we actually do. Theyll know how to fix it. This is a new day, Bob.

Bob brought up the question of money. Can we really afford this?

We cant afford not to. And Im the chief bean counter, so if Im in favor it ought to be a no-brainer for you. Lets just hear what theyve got to say. What do we have to lose?

Alright. Set it up.

Craig had successfully set the plan in motion. But he had no idea that the result would cause a greater transformation than even he could imagine.

Chapter 2
Consultant

C raig set up a meeting with globally known consulting firm McCleary, to begin promptly at 9:00 a.m. on Tuesday. The firm was recognized as the gold standard of management consulting firms, with forty-one global offices. McClearys CEO was a highly sought-after speaker at leading forums in the global business world. The senior regional partner presenting to Goliath was Ralph Plumber. As consultants go, Ralph was the prototype. In his early sixties, he was called The Silver Fox because of his ample head of lustrous hair. He stood ramrod straight in a perfectly pressed blue suit, white button-down shirt, striped tie, and highly polished wing tips.

Ralph was accompanied by two younger associates, Laurel Worthy and Raj Arora. As Laurel plugged the presentation flash drive into the computer port, Ralph saw Craig and Bob entering the room. After a brief introduction, Bob said, Lets get going.

At precisely 9:48, Ralph sat down and asked if either Bob or Craig had any comments or questions.

Craig spoke first. Ralph, that was extremely thorough. I have a much better understanding of why McCleary is thought of as the strategy leader. I just finished your CEOs book over the weekend and was very impressed with his competitive modeling system. Can you give us a little more detail?

Bob interrupted before Ralph spoke. Youve only got eleven minutes, so use them wisely. Ralph was taken aback by Bobs abrupt manner.

Right. The McC, as we call it, is really the spark that most companies that have lost their way, like Goliath, need to jump-start their business. Our go team acts like archeologists digging through every historical item we can lay our hands on in the public domain to understand the competitive environment completely. Then, we have your team sit down for a complete brain transfer to our team to fill in the missing pieces. We are looking for what we call TPSor the positive space. The TPS map we draw paints a very clear picture of the market opportunity.

Craig asked Ralph to be more specific about cost-reduction initiatives.

Well, I realize youve made a lot of progress in migrating toward a leaner approach to manufacturing, but we find that most companies see a dramatic shift to the upside with what we call QUIT, or Quality Utilization Initiative Thinking. I see no reason for Goliath to be any different, given the fact that you havent even considered outsourcing or offshoring. Thats very rich territory, gentlemen.

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