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Stress Test Your Business to Prepare for the Bad Times

How to Identify Market Opportunities that Your Competitors Miss

Shep Hyken interviews Dr. Jeffrey Magee, one of today’s leading Leadership Strategists. He is the author of Your Trajectory Code and more than 30 other books. They discuss how to stress test your business in the good times so that you are empowered to provide a great experience to your clients even in the bad times.

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Top Takeaways:

  • The global pandemic has given businesses time to focus on what customer service means and how it affects their bottom line.
  • When businesses don’t understand customer service, they are not able to recalibrate and change their trajectory to succeed in difficult times.
  • A personalized service compels customers to continue doing business with you. Empower your employees to provide personalized service because in business, he who goes the extra mile, wins.
  • When the leaders are willing to jump in to make success happen, it creates a culture where everyone is invested in creating a positive experience for the customer.
  • When you’re the customer and you have an experience that makes you say, “Wow! That’s amazing!”, make a note. When you go back to your business, think of how you can translate that to wow your own customers.
  • The friendship factor is when your customers feel welcomed by you. This relationship makes your customers go out of their way to do business with you.

Quotes:

“Everyone can adjust when they need to but a lot of times, people don’t think about other market opportunities in good times or in bad times.”

“You should still be innovating during the good times so when you are pushed to innovate in the bad times, you are equipped to find phenomenal success pathways.”

“When the leadership sets the tone, everyone goes the extra step to deliver great customer service.”

“Success starts with the right mindset and the right attitude. When you have the servant mindset, everyone wins.”

“Your legacy is what other people do with what you have given them.”

About: Dr. Jeffrey Magee is the author of more than 30 books, three college graduate management textbooks, four bestsellers, and is the Publisher of PERFORMANCE/P360 Magazine, and a Human Capital Developer for more than twenty years. He brings over two decades of Executive and Corporate Development Expertise, with the last decade working in both the start-up to the mature-growth market business sector.

Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio.

This episode of Amazing Business Radio with Shep Hyken answers the following questions … and more:

  1. What is a stress test in business?
  2. How do you stress test a business model?
  3. How to identify market opportunities in business?
  4. What is the role of innovation in business?
  5. How does leadership affect customer service?

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