Over the years, I watched too many companies close because their cost structure didn’t let them compete in the marketplace. So, we committed to no overhead or employees in our business, which served us well.
One year we qualified for the Inc. 5000 list of fastest-growing private companies, and I bragged about achieving success with our business model.
Today, I’m bringing on my first employee. Although I loved my business model, I love my customers more. My model was no longer meeting their needs, so I had to make a change.
After reviewing my company’s Premise (the marketplace behavior a business serves) and Promise (a company’s behavior serving the Premise), I realized I wasn’t living up to my Promise. My business serves customers who want their branded merchandise delivered as ordered, on time and on budget.
Initially, I worked with my supply chain partners on a solution, but I realized I needed to add an internal resource dedicated 100% to my customers.
In hindsight, I realize I was focused on the business model and not my company’s Promise.