Customers
What is the essential, actually mandatory, prerequisite for a business to exist?
I have asked this question of hundreds of managers and business owners and their usual answers include an idea, money, capital, a product, funding, staff, a name, a brand, a registered legal entity and so on.
It is always a surprisingly long time before the correct answer emerges.
As Peter Drucker says, "the purpose of business is to create a customer", for without customers it doesn't even exist. This applies to all levels of the business. Every staff member, manager or executive exists to support the overriding purpose to create a customer.
Where are customers in your thinking and priorities?
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