This Week’s Happenings: The Key to Sustainable Advantage, and an Inside Look at Detractors and Promoters

This Week’s Happenings: The Key to Sustainable Advantage, and an Inside Look at Detractors and Promoters

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Are you SBA’s Next Winner?

Small business owners with a stellar success story have the opportunity to join the ranks of businesses like Ben & Jerry’s, Stonyfield Farm, and Chobani, all businesses that have previously won the SBA’s National Small Business Week Award. There are 14 different nomination categories for the SBA’s Award, and applications are open until early January 2017.

How Wells Fargo’s Work Culture May Have Cleared The Way For Scandal

“To every organizational leader out there—what should keep you awake at night is what you don’t know because employees are afraid to tell you.” – Andrew Faas, The FaasFoundation, which promotes healthy work cultures.

It’s no secret that employees tend to alter their actions based on the kind of successes company leadership celebrates. Wells Fargo—which was just fined $185 billion due to employees opening unauthorized checking accounts and credit cards—may have caused their recent scandal by creating a culture of fear.

[Video] Core Competence

One key to a sustainable competitive advantage is identifying and understanding your company’s core competencies. Harvard Business Review presents an illustration of what this means, how successful companies have used it to rise above competitors, and how ignoring it can end in failure.

[Infographic] The Anatomy of a Customer

Earlier this week, we experienced an interaction with the owner of one of our favorite small businesses—a local Cuban restaurant—that turned us from from unhappy detractors to their next biggest fan club after the owner personally delivered a lunch order to our office after a mix up with the order delivery service. The restaurant owner understood the anatomy of her customer and how to turn an unhappy office into an outspoken group of promoters. Learning the characteristics of your customers will help you determine how you can treat promoters, passives, and detractors to create brand ambassadors and bring in more business.

Tweet of the Week

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About the Author — Lydia serves as Content Manager for Nav, which provides business owners with simple tools to build business credit and access to lending options based on their credit scores and needs.

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