Key Takeaways
- Great companies like Starbucks, Disney and Four Seasons understand that customers will pay a premium for a transformational product or service experience.
- Numerous surveys confirm that meaningful work is the No. 1 thing that people want in a career.
- When building your team, look for self-starters who are alert, curious, resourceful, responsive and anxious to make things bigger, faster and better than they are right now.
Attracting money for your business is tough. There are so many variables to contend with that it can seem like you’re constantly herding cats. The key to attracting money and talent to your business is to create a transformational business that provides customers and clients with tremendous value for their money — even at a premium price point.
Starbucks, Disney and Four Seasons are outstanding companies that understand this strategy well. They provide customers/guests with a unique, transformational experience that makes them willing to pay two, three, even five times as much to patronize them instead of generic coffee shops, amusement parks or hotel chains.
At our firm, we look for employees who are alert, curious, resourceful and responsive. Also, we’re looking for people who are anxious to make things bigger, faster and better than they are right now. These are what I call “batteries included people” — they’re ready to go from Day One and don’t need much in the way of training.
By the way, you don’t need to be a small company or in a startup situation to create a transformational business. It’s possible for even bureaucratic status quo corporations or government organizations. Survey after survey tells us that the most important thing people want in their jobs is to do meaningful work. Meaningful work means you’re in a situation where you’re uniquely capable of doing something. It means you feel really special, you’re passionate about what you’re doing, you never get tired of your job and the work gives you energy rather than exhausting you. When you have most everyone in an organization feeling that way, it’s much easier to attract the talent, money and resources you need to achieve exponential growth. That’s also what enables you to provide a transformational experience to your clients and customers.
A lot of books have been written about this topic. The key is to provide a lot of value and a transformational product or experience — success will happen, and you’ll attract the money. Until next time, enjoy.
Gary
