When you hear about People > Profits...
You'd probably think,
"What nonsense is Herek talking about?
Businesses exist to make money!"
You're not totally wrong.
Yes, businesses need to make money.
Cash flow is the lifeblood of all businesses.
Businesses without cash flow will die.
That's why many businesses focus on Profits > People.
Every step they take is to make more profits.
And that's the source of all the problems happening in the world right now.
Look, there are only 2 types of businesses:
One focuses on People > Profits.
The other one focuses on Profits > People.
Here's how you differentiate them:
People > Profits businesses exist to help people solve problems.
They get paid for delivering value...
And improving the lives of the consumers.
They serve the interests of their audience first.
They treat their clients and customers as humans... Not numbers or dollar signs.
Simply put, they care for the people they serve.
The core belief is: When you serve people well, profits come naturally.
People don't want to stop doing business with you.
Profits > People businesses come in many forms.
Some PRETEND to solve problems for people... When they actually don't.
Some create more problems for the people... Then sell them the "solution".
Some intentionally withhold part of the solution...
And make you pay more to get the full solution.
One thing's for sure: All Profits > People businesses DON'T care about people.
They treat people as numbers, statistics, and dollar signs.
To them, people are disposable items.
People are simply a means for them to extract money.
They don't care if people get hurt... Physically, emotionally, or psychologically.
Another common tell-tale sign of Profits > People businesses:
1) They don't use their own products or services.
2) They also don't let their family members use their products and services.
But they are OK with selling it to others.
Using the criteria I just stated...
It's easy for you to identify which businesses are Profits > People.
Or People > Profits.
Which type of business do you think is more ethical?
Which do you support?
I believe businesses should exist to solve problems... Not create problems.
I believe we should help people to the best of our abilities and get paid.
I believe in People > Profits. Always.
You may have experienced these as a client:
- Poor service.
- Overpromising and under-delivery.
- Incongruency from your coach or mentor.
- Change in attitude once your money reaches their pocket.
- Neglect.
You may also have experienced this as an employee:
- You're overworked and underpaid.
- Your manager only cares about your KPI. Not your well-being.
- Not getting the promotion despite performing well.
- You're given tons of work with tight deadlines.
- You feel burnt out.
These are the classical signs of being involved with a Profits > People business.
It affects both the team member and the consumer.
Team members eventually leave the toxic work environment.
Clients eventually leave and stop buying from them.
That's why I say...
Retention is retention.
It applies to your partner, team member, client, and even your spouse.
The principles of retention are the same.
And they're evergreen.
People > Profits. Always.
Remember:
Tactics change.
Strategies may evolve.
Principles are forever.
- Herek
P.S. If you'd like to explore more of my Client Retention content...
Feel free to follow me on the following platforms:
- LinkedIn.
- YouTube.
If you'd like to have a peek at my personal life...
I post more personal stuff on:
P.P.S. In case you missed it... Read the Client Retention Top 10 FAQs HERE. Then you'll understand our philosophy behind everything we do.
I look forward to sharing more with you in the next post.
If you enjoyed reading this post... Feel free to check out the other posts!
#8: What Is The Retention Architecture model: The 3 layers Explained
#9: the hidden costs of ignoring retention principles (No one talks about this)
#10: Why clients still leave despite enjoying great service?
#11: Why have traditional marketing tactics lost effectiveness?
#13: Why businesses lose clients: The hidden role of trust leaks
#16: Where Does Client Trust Break Down? The Trust Leak Stages Explained
#17: Why tactical optimization can't fix weak business foundations
#18: What should consultants do when clients insist on their ideas?
#21: Why do clients request a refund? (It's not what you think)
#22: Case study 1 - how retention principles saved a marriage...
#25: Read this if you use AI in business (It's killing client retention... And more)
#29: How To Increase Client Lifetime Value Using Retention Principles
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