It is easier to…

It is easier to lose your existing customers than it is to gain new ones

This article has a great summary of what went wrong at JC Penney during Ron Johnson’s turnaround contained this bit of wisdom that’s too often forgotten. Sometimes you need to lose a few customers, especially early ones as your company matures and pivots. For a mature company in a tough market like JC Penney, unless you’re careful you’re just as likely to lose your core than to steal someone else’s.

Published by Steve Banfield

Kentucky born, Seattle based. Entrepreneur. Team Builder. Photographer.

Leave a comment

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: