The New York Yankees have been a great team from 1995 - 2013. The reason is their business model. Pay as much as possible for the best players. Great players help you win championships and champions draw fans.
Now of course if your players don't perform or you overpay for the value of your players this business model could cause your business to fail. But the basic message is that if you want a great team or company means to hire the best and reward them for their performance.
Saturday, October 5, 2013
How Not to Run a Business like #GNC
GNC (General Nutrition Center) is a retail store that sells health products. They compete with Vitamin Shoppe in the NYC area.
I recently went in to purchase a box of low carb cereal. They did have a product but at the cash register I had a frustrating experience.
First they try to sell me a membership card for $15 that gives me discounts. I probably should have bought one a while ago, but I didn't. It didn't seem right to charge me money to save money. So strike one. I'm pissed off.
Then the cashier asks if I want to donate money to charity. I feel awkward saying no but I say it anyway. Strike two.
Then I'm asked if I want to leave my email address to receive coupons. NO!!! Strike three.
Then, "would you like to by some vitamins?" NOOOOO!!!!!!
And finally "did you get everything you're looking for?" I would have asked. Don't ask me such a stupid questions.
I hope GNC studied the gain from these schemes to the good will they lose. I don't think I'm going back there.
What has your experience been?
I recently went in to purchase a box of low carb cereal. They did have a product but at the cash register I had a frustrating experience.
First they try to sell me a membership card for $15 that gives me discounts. I probably should have bought one a while ago, but I didn't. It didn't seem right to charge me money to save money. So strike one. I'm pissed off.
Then the cashier asks if I want to donate money to charity. I feel awkward saying no but I say it anyway. Strike two.
Then I'm asked if I want to leave my email address to receive coupons. NO!!! Strike three.
Then, "would you like to by some vitamins?" NOOOOO!!!!!!
And finally "did you get everything you're looking for?" I would have asked. Don't ask me such a stupid questions.
I hope GNC studied the gain from these schemes to the good will they lose. I don't think I'm going back there.
What has your experience been?
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