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Five Email Newsletters Every Business Leader Should Subscribe To

The 2020s has been called the age of the email newsletter, and for good reason. For business leaders, these newsletters are a valuable way to stay informed, inspired, and ahead of industry trends without scouring the internet. Many of them, much like the podcasts we highlighted in our “Tune In And Cash In: 3 Podcasts You Should Listen to Before Selling Your Business” blog from September, are also free.

Plus, there are a multitude of options for those who like to receive their knowledge in this manner. In the business category alone, there have been over 365 million newsletters launched on LinkedIn since 2017. This is, ostensibly, a good thing. It makes finding and reading relevant content more convenient than ever by providing insight into industry trends, stories, information, and expertise that is delivered straight to your inbox. But with the riches also come the spoils. And while each of those 365 million newsletters may contain valuable information, most of us don’t have time to read millions of newsletters a day. We have to be a bit discerning about which subscriptions are worth our time. Luckily, we vetted the top twenty-five business-related email newsletters and found five that we think that we think are more than worth your time. So, without further ado, here are five email newsletters that EVERY business leader could benefit from subscribing to. They are…

  1. The Morning Brew

With over four million subscribers, this is one of the most popular email newsletters out there, so if you don’t already subscribe, you should. The schtick behind this one is that each of the daily emails from The Morning Brew offers updates about the business world that can be consumed in just five minutes (or the length of time it takes you to drink a cup of coffee).

  1. James Clear’s 3-2-1

James Clear, the best-selling author of Atomic Habits, takes a unique approach with his weekly newsletter, which is also a five-minute read.  In each installment, Clear delivers three ideas, two quotes, and one question worth pondering. The result is something more thought-provoking than pedantic, making reading 3-2-1 a great (and quick) way to shake off the brain fog that comes with the work week and prompt yourself to think outside the box.

  1. Term Sheet

Perhaps the most technical newsletter we have on this list, Term Sheet offers daily news and analysis related to private equity, venture capital, start-ups, mergers and acquisitions, and high-value deals. These reads can trend slightly longer (more like ten minutes than five), but they contain gold standard content produced by Fortune. Additionally, each issue features an updated list of venture and private equity deals, exits, and funds.

  1. One Thing Better

What we love about this email newsletter is that it focuses on the mental side of business success, covering topics such as personal productivity and well-being. It is released weekly and put out by Jason Feifer, who also serves at the chief editor of Entrepreneur magazine. In it, Feifer shares useful and actionable tips on how to be more “successful and satisfied” in both business and life. If you’re looking to lead with confidence while staying grounded, this weekly read is for you.

  1. Workology

This one is HR specific, but since HR is the foundation of any good company, and since we love and trust the woman behind this newsletter, we wanted to include Workology on this list. Produced by veteran entrepreneur Jessica Miller-Merrell, this weekly newsletter focuses on HR topics like leadership and recruiting, providing advice that is simultaneously timeless and disruptive.

Of course, there are so many great email newsletters out there. (We certainly had trouble whittling the list down to five.) If you prefer learning through this format, it’s also worth conducting a quick search to see which email newsletters are particularly popular or useful to your current business needs. Whatever those needs are, you will find a newsletter that addresses them.

However, the newsletters listed above are a great place to start! Each provides insightful, thought-provoking, and even entertaining content that might have you actually looking forward to opening your inbox at the start of your work day.

Stay Connected with Our Strategic Partners

In addition to these excellent newsletters, don’t forget to explore the insights and resources shared by our Strategic Partners. From IT and insurance to finance and HR, they provide valuable knowledge tailored to business leaders.

If you’re interested in subscribing to their newsletters, please contact us or reach out directly to the Strategic Partners. In the meantime, you can access their expertise through the resources available on their websites:

WHITE PAPER

2024-2025 Tax Planning Guide

Brought to you by Cray Kaiser

To keep your taxes to a minimum, you first need to be aware of all of the tax breaks for which you’re eligible. Then you have to implement strategies that allow you to take maximum advantage of those breaks and other tax savings opportunities while staying in compliance with tax law. You also can’t forget about the massive Tax Cuts and Jobs Act (TCJA) that generally went into effect six years ago but still significantly impacts tax planning. Many of its provisions are scheduled to expire after 2025, and it’s uncertain whether they’ll be extended. There may be actions you can take this year to help lock in tax savings. Finally, you need to keep an eye on Washington, because the outcome of the 2024 elections will have a big impact on taxes in the future.

This guide provides an overview of some of the key tax provisions you need to be aware of. It offers a variety of strategies for minimizing your taxes in the current tax environment. Use it to identify the best ones for your particular situation with your tax advisor, who also can keep you apprised of any new tax law developments that might affect you.

Click here to read the full guide

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The Personal Touch: Creating Personalized Customer Experiences at Scale

 

In a recent survey conducted by Epsilon, 80% of consumers expressed that they are more likely to do business with brands that offer personalized experiences. This is believed to be a direct result of the internet and e-commerce: as personalized products and services become more accessible in our increasingly connected society, customers are starting to expect and demand a certain level of “personal touch” in the ways in which they interact with brands and companies. However, even though 85% of companies think they offer the type of personalization their clientele is looking for, customer surveys show that only 60% of businesses actually achieve this goal. There’s clearly a discrepancy there, and many experts think it can be explained by one thing: scale. Of course, it’s relatively easy to offer personalized experiences when your business is small or just starting out. Creating relationships with hundreds of people is far less time consuming than maintaining those relationships at the same level with hundreds of thousands of people. As your company grows, it’s natural to cut back on that “personal touch” in what you feel are small, imperceptible ways, but the data tells us that your patrons are feeling those cutbacks all the same. So the big question is: How do you achieve your growth goals while maintaining the personal touch that created your loyal customer base in the first place?

Embedding Customer-Centricity as a Core Value

The answer to that question is multifold, but it starts by embedding customer-centricity into your organization’s operations and values. (If you’re looking for advice on how to do that, check out our recent blog post on .) From there, the expert recommendation to small businesses faced with scaling up is to automate when and where you can. While automation may seem like it runs counter to the goal of creating personalized experiences, the reality is that automation allows you to plan ahead and create recurring touchpoints like emails, blog posts, social media updates, and offers or promotions tailored to specific customers.

For an example of how this works in practice, look at a company like Chipotle, which operates worldwide on a huge scale. By automating their text interface, they created a platform where they can blast their customer-base with promotions related to everything from Teacher Appreciation Week to Halloween. And their promotions work. Not only do these blasts have the benefit of increasing Chipotle’s sales up to four times (depending on the promotion), but customers cite them as something they appreciate about the brand. It may seem like a small thing, but a teacher getting free guacamole with her order on a week that is meant to honor her profession is the kind of “small thing” that is proven to make a giant company feel like it operates on a personal level.

Scaling with a Personal Touch in Family and Entrepreneurial Businesses

The other essential element growing businesses need to have in place to continue to operate with that “personal touch” is customer service. This includes everything from sales to help hotlines. Scaling up may require owners and managers to delegate these and other tasks, empowering their employees to engage with the customer base in ways that previously happened at a higher level. While this can feel like sacrificing control, it’s actually a good thing! The fact that your company is growing means you can’t possibly engage with everyone who interacts with your brand in a meaningful way. But a well-trained and empowered outward-facing workforce means that your business can be reachable, even when you are not. That being said, if you are face of the brand your built, you do want to retain visibility to your clientele in some manner. For family businesses, this delegation may also include close-knit family members or longtime employees who share a deep understanding of the company’s mission and culture.

Delegating and empowering your workforce doesn’t mean disappearing behind a curtain like the Wizard of Oz. While this visibility looks different for different owners and CEOs based on their personalities and the nature of their companies, some tried and true methods include weekly (or monthly) blog posts, a robust presence on your company’s social media pages, newsletters, and seasonal communications. For small and mid-sized businesses, highlighting the story behind the business – its family history, entrepreneurial journey, or milestones, can foster a deeper emotional connection with customers. However, you choose to stay in your customers’ consciouses, make sure to share your successes as you grow! If they’ve been with you from the beginning, chances are they’ll be thrilled to see you taking off!

Conclusion

For family and entrepreneurial businesses, scaling up is both a challenge and an opportunity. Embedding customer-centric values, embracing smart automation, and empowering your team ensures you can grow sustainably without sacrificing the personal touch that made you successful. Additionally, don’t be afraid to lean into your strengths – whether that’s community involvement, family values, or your personal leadership style. Customers appreciate authenticity, and sharing your journey can inspire loyalty and engagement.

Stay visible, stay connected, and let your shared experiences inspire your continued growth.

 

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EFBC President’s Message: Core Values at the Negotiation Table

Dear EFBC Members,

I am back with another themed letter, and this time I am thinking about Negotiations, and specifically how they are guided by Core Values.

Negotiations are a core part of any business leader’s role. Whether it’s a high-stakes contract or a simple agreement, we all bring to the table a toolbox of strategies—understanding our BATNA (Best Alternative to a Negotiated Agreement), leveraging data, and staying prepared. But beyond tactics and strategies lies a deeper dimension of negotiation: the alignment with our values.

In the pursuit of a win, our competitive energy as entrepreneurs can be activated, and it’s easy to focus on the tactical and analytical aspects of negotiation. However, the most meaningful and sustainable agreements often come from a softer, values-driven approach. This means prioritizing respect, empathy, and integrity throughout the process.

I am currently working through a high-stakes negotiation around potential M&A for my business. I know the tactics, and I know the data, so I am well-positioned. But I also keep re-visiting both the core values for my business and my personal principles. I am actively seeking to avoid an outcome where I have “won” but caused myself future harm by straying from what has served me well to-date.

As you go through the inevitable negotiations in your businesses, I encourage you to leverage the EFBC way of emotional intelligence, and the support of your forum and the broader EFBC community to help you stick to your personal values.

Warm regards,

Darrin Shillair – EFBC President 2024-2025

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Powerful Conversations, Powerful Takeaways

EFBCNightofKnowledge2024_0005

Two weeks ago, we hosted our 2nd annual Strategic Partner Night of Knowledge, bringing together the expertise of our strategic partners to discuss topics crucial to today’s business landscape. This year, we were thrilled to welcome two new partners, Wintrust and PSM Partners, who contributed fresh perspectives to our collaborative roundtable discussions. Members, prospects, and guests gathered around the tables to hear each partner’s insights, sharing experiences and gathering actionable takeaways. After the roundtable discussions, everyone enjoyed a fantastic dinner, where the conversations kept flowing and connections grew even stronger.

Here’s a snapshot of the night’s invaluable discussions:

  1. ALERA Group: Marcus Newman – Vice President

Marcus tackled the challenges businesses face with an aging population within their health plans. He emphasized the need for diverse insurance options that cater to various needs such as PPOs, HMOs, QHDHP, including specialized plans for chronic conditions. He also stressed the importance of educating employees about Medicare and Medicare Advantage through open enrollment meetings, webinars, benefits internet site, etc). For larger businesses (>50 employees), leveraging negotiations with insurers can help manage costs, while maintaining compliance with federal laws like the Age Discrimination in Employment Act (ADEA) ensures fair treatment for all employees.

  1. ODEA: Patty Rioux – President and JJ LatteaTechnical Marketing Manager

Patty & JJ explored the topic of AI, the evolving role of Large Language Models (LLMs) in business. The discussion highlighted 3 primary ways to work with LLMs, including techniques like prompt engineering to maximize their effectiveness. Key strategies for prompt engineering included few-shot learning, where a few examples help guide the model; chain-of-thought, which prompts the model to tackle problems step-by-step; and self-consistency, which ensures consistent outputs across different runs. They also discussed real-world applications of AI tools like Microsoft Co-Pilot, which ODEA used to create their podcast Why Brand Matters in M&A.

EFBC will be hosting an AI Workshop Breakfast Club in March 11, 2025 with strategic partners ODEA and PSM, offering a deeper dive into the impact of AI on business. Mark your calendars!

  1. Cray Kaiser: Deanna Salo – Managing Principal

Deanna shared key insights on preparing for a successful business sale, emphasizing the importance of planning, organization, and readiness for disruption. First, ensure all owners are aligned on goals and prepare emotionally for the transition, which can take months. Limit sharing sensitive financials until an NDA is in place, and carefully navigate the letter of intent, focusing on key deal terms like sale structure, purchase price allocation, and due diligence timelines. Get your financial house in order: audited statements, clear internal controls, and a solid organizational chart are essential. Finally, time your sale strategically, considering seasonality and post-tax cash flow, while identifying potential buyers within your network.

  1. Burke Law: Eric VanderPloeg – Partner

Eric shared ten essential tips to help businesses avoid costly litigation. Start with strong foundations: keep governing agreements up to date, manage credit risks, and use well-crafted sales forms. Limit liability and disclaim warranties wherever possible, and ensure your employee policies and handbooks are rock solid. Protect proprietary information, understand data privacy obligations, and include smart litigation clauses in contracts. Lastly, invest in the right insurance to cover your bases. By addressing these key areas, you can focus on growing your business without the worry of costly legal battles.

  1. Private Vista: Greg Bogdan – Senior Advisor, CFP

Greg shared a powerful giving tool: Donor-Advised Funds (DAFs). Think of a DAF as a charitable investment account that grows tax-free, simplifying your philanthropy while offering generous tax benefits. You can contribute cash, appreciated assets, or even limited partnership interests, maximizing deductions and avoiding capital gains taxes. With DAFs, you control when and where to donate, while the fund sponsor handles the admin work, from verifying charities to tracking grants. Plus, you can create a lasting legacy by naming a successor to continue your charitable vision. A smart, flexible way to support causes close to your heart!

  1. Psyched: George Karavattuveetil – President & Founder

George emphasized the growing value of flexible, holistic employee benefits. In an evolving job market, companies are focusing on benefits that promote financial security, career mobility, and personal well-being. Benefits such as flexible work arrangements, development opportunities, and financial wellness programs are more valuable than ever for attracting and retaining top talent. Employers who prioritize these benefits are seeing increased engagement and loyalty from their workforce.

  1. PSM Partners: Mike Mete – Founder and Jon Pisani – Senior Engagement Manager

Mike and Jon delved into the critical importance of Cybersecurity, Data Governance, and Risk Analysis, offering valuable insights on how businesses can stay ahead of emerging threats. They highlighted the significance of conducting thorough cybersecurity risk assessments, which help organizations identify potential vulnerabilities, allowing to strengthen their defenses and reduce risks. In today’s digital landscape, proactive risk management isn’t just an option – it’s a must. With the growing reliance on data, they stressed the need for strong governance practices to safeguard sensitive information and ensure compliance with evolving regulations. For more insights and resources on cybersecurity, visit PSM Partners’ Cybersecurity resources.

  1. Wintrust: Matt Hammer – Division Manager, SVP and Pat Stoltz – President (ESOP Finance)

Matt and Pat shed light on the powerful benefits of ESOP – a powerful tool for business owners looking to sell to employees and preserve the legacy of their companies, explaining how it can be a game-changer for both business owners and their employees. They highlighted the tax advantages, such as the potential for 100% S-Corp ESOPs to be exempt from federal taxes and the opportunity for C-Corp ESOP sellers to defer capital gains through a 1042 election. ESOPs also offer flexibility by allowing partial sales, enabling owners to ease out of the business over time while still staying involved. Wintrust’s expertise in ESOP financing helps guide companies through the process, from structuring the deal to completing the transaction

To wrap up, we couldn’t have said it better than our Strategic Partner Jon Pisani from PSM Partners, who captured the true essence of Empower Night:

“Tonight is a great example of feeling very supported by the Community and being able to share institutional knowledge. Providing that level of insight empowers me as a proud EFBC member. Sharing that information with everyone – it’s just a great feeling for life.”

 

Here’s to many more nights of knowledge, connection, and empowerment!

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Meet Drew Hill, Operations Manager at Specialty Sales LLC

 

 

 

1. Can you tell us a little bit about yourself, both personally and professionally?

I’m Drew Hill, and I’m currently the Operations Manager at Specialty Sales. I’ve been with the company for three years now, and I’m 29 years old. My role here involves a bit of everything – implementation, support, and leading. My strength lies in understanding the interconnectedness of all operations and keeping everything running smoothly. I got to where I am because I’ve always hated hitting ceilings in my career. I was in a previous role where I realized I was doing all the responsibilities of an operations manager without the title or compensation, and I knew it was time to make a change. That’s when I met Darrin Shillair, and we were on the same page from the start. Now, here I am, thriving in a role where I can continuously grow.

2. What do you like the most about what you’re doing right now?

There are two things I really enjoy about my role. First is problem-solving. I love using logic and figuring things out, which keeps me mentally stimulated. The second thing I value most is the freedom that comes with the job. Whether it’s financial freedom or just being trusted to get the job done without someone breathing down my neck, it motivates me. That autonomy is what drives me to push for even more freedom.

3. How did you first hear about EFBC?

I first heard about EFBC through Darrin, my boss. He mentioned a leadership program led by George Karavattuveetil and suggested I try it. The program aligned with the leadership responsibilities I was already taking on, so I jumped in. Darrin was the one who connected me to EFBC and their programs.

4. Can you share your experience and any takeaways from the leadership course?

The biggest takeaway from the leadership course was learning to trust my gut. George helped validate that I was already on the right path, especially when it came to team accountability. I had been implementing many of these lessons at work, but the course gave me the confidence to keep trusting my instincts.

5. Can you talk about taking the next steps from participating in the course to attending Forum Flex?

After the leadership course, Darrin suggested I join the Flex Forum group. I’m the kind of person who never says no to opportunities, so I went for it. It’s been a really fulfilling experience so far, and I’m glad I took the plunge.

6. Anything you would like to share that you have taken from your experience in Flex Forum so far?

Flex Forum has been a great way for me to recharge. It’s refreshing to be around smart, thoughtful people, and it forces me to sharpen my perspective. I’ve become better at looking at situations from multiple angles, which has helped my decision-making process tremendously.

7. Do you have any passions or hobbies outside of work?

I’m really big on decompressing after work. I like going to the gym, but I also love my downtime. After a busy day, there’s nothing better than relaxing and unwinding. It’s important for me to recharge so that I can be at my best.

 

Join us in welcoming Drew Hill to the EFBC community! Members can log in and connect with Ben via the EFBC Member Directory.

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EFBC President’s Message: Keep Calm and Persist On

Dear EFBC Members,

I am back with another themed letter, and this time I am thinking about Persistence.

I often feel in my business that my efforts aren’t working, and we’re not making enough progress on our goals. As owners, we are all too familiar with the days where it feels like every effort is hitting a wall, with no immediate results in sight. These days can be discouraging, but they are part of the larger journey. Success isn’t measured by the wins of a single day; rather, it comes in chunks, often appearing when we least expect it.

It’s easy to become impatient when we don’t see instant results. However, persistence is what separates those who build lasting businesses from those who give up too soon. By continuing to put in the effort day after day—without immediate reward—you are laying the groundwork for those eventual “chunks” of success. It’s the accumulation of small, persistent efforts that leads to significant breakthroughs.

As leaders, we must remind ourselves that the road to success isn’t linear. The key is to stay focused on the long-term vision, even when daily progress seems minimal. The challenge is to remain committed to your goals, and trust that persistence will pay off, as it always does. In time, the small efforts compound, and the big wins start rolling in.

The EFBC provides a unique and critically important environment for persisting through the lulls where it feels like your efforts are “two steps forward, one step back”. Our forums and the broader organization are full of leaders who have “been there”, can ground our individual impatience in wisdom, and provide the encouragement needed to Persist.

I wish you all strength in your Persistence through your business and personal challenges faced every day. As the recent recipient of a few step-change chunks of progress, it ultimately can pay off.

Warm regards,

Darrin Shillair – EFBC President 2024-2025

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Loss, Leadership & Lessons: Must-Know Takeaways

At our recent Fireside Chat event, we had the privilege of hearing from Judy and Jeremy Hogel, the dynamic mother-son duo who lead MegaPros, a family business that faced unexpected challenges after the sudden loss of Joe Hogel, husband, father, and founder of the company. Moderated by Deanna Salo, this intimate conversation gave us a rare glimpse into their emotional journey and the leadership lessons they learned while navigating both personal grief and business challenges. Below are some key takeaways and memorable moments from the event that will resonate with anyone leading a family-owned business.

Key Takeaways:

1.    Succession Planning Is Non-Negotiable
  • The Gift of Preparedness. Joe Hogel left behind a handwritten letter “If I Died Yesterday” back in 2013, outlining what Judy and Jeremy needed to do in the event of his passing. This foresight helped the family stay organized and focus on moving forward, even when emotions were high. Judy later took inspiration from this and wrote her own letter for her loved ones, offering both emotional closure and a practical guide.

“The best gift I got from Joe was that letter… In my grief, I had a clear task list to follow. That was his final act of love.” – Judy

  • It’s more than just paperwork. Judy emphasized that while estate plans and succession documents are essential, regularly reviewing and updating them is just as important. These plans can’t just sit on a shelf – they need to be actively integrated into the family business structure.
2.    Lessons in Estate Planning
  • Funding Trusts Is Essential. Judy openly shared a major oversight they encountered: while their trust was well-written, none of their assets were titled under it, which forced them into probate. This is a common mistake, but an avoidable one with the right attention.

“We had the trust, everything was written in the trust, but nothing was funded. Nothing was titled in the trust. Which meant that I went to probate.” – Judy

  • Beneficiary Designations Matter. The Hogels learned the importance of properly designating beneficiaries for 401Ks, life insurance policies, and HSAs to keep assets outside of probate and reduce tax liabilities.

“Ask the question: If I died yesterday, what’s going to be the implications to my significant other? What kind of hoops are they going to have to jump through?” – Jeremy

3.    Invest in the Right Advisors Early

Jeremy shared candid insights about the mistakes they made during the transition period. One key mistake was not hiring the right advisors early enough: “There was no way Joe was going to spend money on something like succession planning,” Jeremy said, acknowledging their initial hesitation to invest in professionals with the necessary expertise.

He also emphasized that cutting corners when it comes to hiring expert advisors was one of their biggest mistakes. “You get what you pay for. Not hiring the right people for big things was one of our biggest mistakes.” – Jeremy.

Jeremy praised the EFBC’s network of advisors – Strategic Partners, describing them as “the crème de la crème,” and encouraged others in the room to tap into this invaluable resource early on.

4.    Leadership Must Be Clearly Defined

While Joe had been preparing Jeremy to step into a leadership role, it became clear after his passing that there needed to be more formal communication about leadership succession within the company. Jeremy noted that while the team knew he would take over, having clear documentation of leadership responsibilities is crucial to avoid confusion.

“Joe was preparing me, but we didn’t have everything formalized. Now I understand the need for clarity in leadership transitions.” – Jeremy

5.    Adapting Company Benefits

Learning from Joe’s death, MegaPros quickly amended their policies, such as increasing life insurance for employees and adjusting profit-sharing plans to ensure that if an employee passes away, their family would receive their share of profits.

6.    Balancing Emotion and Business

Jeremy reflected on how challenging it is to separate emotion from business, especially in a family business setting. MegaPros initially leaned heavily on numbers and metrics, but after Joe’s passing Jeremy soon recognized the need to prioritize the human side as well to truly uphold their culture

“It’s not just about numbers. If you’re not good, the business isn’t good. We have to figure out the people part first, then the money will follow.” – Jeremy

7.    The Power of Community in Times of Crisis

When tragedy struck, the EFBC community rallied around Judy and Jeremy, providing both emotional and practical support. From peers reaching out to help with daily tasks to friends offering a listening ear, this sense of belonging made a critical difference during their darkest moments.

“The people in this room, the people of the EFBC, started as just a group of folks who wanted to learn… but over time, they became lifelong friends and family – people who showed up for us in our hardest moments.”– Jeremy

The Hogels’ journey after Joe’s sudden passing serves as a powerful reminder of the importance of succession planning, community support, and financial resilience. Their story shows how a family business can not only survive but thrive in the face of tragedy, as long as the right foundations are in place. Plan for the unexpected, surround yourself with the right advisors, build financial resilience, and lead with both your head and your heart.

For those who couldn’t attend, we hope these key takeaways provide valuable insights you can apply to your own journey as a business owner or entrepreneur.

Save the Date: We’ll continue this Fireside Chat series on December 11, 2024 – virtual Fireside Chat “From A Minute to Think to Leading the Way” featuring Julie Funt, a renowned keynote speaker, who will share insights on leadership, productivity and well-being; and February 13, 2025 – fireside chat focusing on mergers and acquisitions (M&A), featuring our members Jim Flanagan and Mark Wesa. Don’t miss out!

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Beyond “Faster Horses:” Building a Customer-Centric Culture

 

The late great Sam Walton, best known for founding both Walmart and Sam’s Club, once famously remarked that “There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” Though American business practices have changed considerably since Walton’s passing in the 1990s, his statement is evergreen, and stresses the importance of putting the customer first in business practices. This means developing, delivering, refining, and improving your products and services with your customers in mind. It may seem like a no-brainer, but implementing this customer-centric way of thinking at all levels of your business can be tricky. It requires knowing what your customers want and how to give it to them. It also requires balancing the needs of existing customers with the wants and needs of the customers you’re hoping to acquire while still putting the needs of your employees first.

  1. Prioritize Employees to Serve Customers Better

And, while it may seem counter-intuitive that building a customer-centric culture would begin with putting the needs of your employees first, that actually is where most experts recommend starting. In According to Annette Franz, a customer experience expert and frequent Forbes collaborator, building a true customer-centric culture means putting the customer first, but putting the employee “more first.” After all, regardless of the company figurehead, your employees are the day-to-day faces with which your customer base interacts. Happy, engaged employees tend to create positive customer experiences, naturally reflecting your business values and culture. When your team feels valued and empowered, they are better equipped to meet and exceed customer expectations

  1. Listen to Your Customers – Work From the Outside In

The second step to building a customer-centric culture is to work from the outside in. Many businesses make the mistake of assuming they know what the customer wants, but (unfortunately) “if you build it, they will come” only works in Field of Dreams. Considering the customer doesn’t mean telling them what they want, it means letting them tell you what they want. Of course, this can be done in a variety of ways, from the more formal, like surveys and feedback boxes, to the less formal, like checking heatmaps on your website and relying on anecdotal accounts from the employees you made sure to put “more first.” So, which of these should you use? The answer is D. All of the above. Experts recommend relying on a mix of formal and non-formal data collection when it comes to figuring out what your customers want, as different types of customers tend to communicate their wants and needs in different ways.

  1. Deliver on What Customers Want

Of course, once you figure out what the customer wants, you need to give it to them. Again, that is a deceptively simple statement, but it requires a lot of analysis and hard decisions. After all, the data collected from your surveys, feedback, and heatmaps may not show consistent trends, or current customers may be asking for something different than customers you hope to attract. Sometimes, you just have to make a best guess about what people want, and sometimes you’ll be wrong. At EFBC, we encountered this with our traditional Full Forums. While these peer groups were highly valued by many members, we noticed a need for greater flexibility for those who couldn’t commit to the Full Forum schedule. In response, we introduced a Flex Forum option, offering a more flexible format for members with tighter schedules. While we weren’t quite sure how it would be received initially, the Flex Forum has since become a huge success, proving that anticipating customer needs can pay off.

This is where open lines of communication become key. Make sure you have accessible and proactive customer service, and make sure your employees are able to easily raise any recurrent issues that customers are having. Open lines of communication between your customers and your employees help foster a culture of continuous improvement. Then, show that you are listening! Refining a product or service based on customer feedback is a great way to communicate to those customers that they are heard and valued, which in turn creates loyalty.

  1. Think Beyond Customer Expectations

Anticipating and responding to customer needs also can require thinking outside the box. To quote another famous businessman, Henry Ford, “if I had asked people what they wanted, they would have said faster horses.” Where Ford excelled was not in that he gave people something they didn’t ask for. In fact, quite the opposite: he was so attuned to the needs of his customers that he was able to give them the impossible thing they didn’t even know they were asking for. And if you can do that, you’ll not only continue to cultivate the loyal base you already have, but you’ll also expand that base. And that is how you grow as a true customer-centric company.