6 Entrepreneurial Lesons I Learnt from Jeff Weiner and LinkedIn

I recently watched Cory Johnson interview Jeff Weiner on Bloomberg Television’s “Bloomberg West” and it was mind-blowing for me as an entrepreneur and that’s why I’ve decided to share. You also might learn a thing or two.

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ON THE MAJOR CHALLENGES FACED BY HYPER-GROWTH COMPANIES

The challenge we had before are similar to the ones we have now; remaining focus clearly defining the core of the and staying true. (With) Hyper-growth companies it’s easy to get distracted by the numerous opportunities ahead of you.

One of my favourite lines in business is managing hyper-growth is like putting a rocket out in the space; if you’re off by inches at launch you can be off by miles in orbit.

ON SCALABILITY

Making sure you have the right foundation so you can scale. Not only having the right team, which is paramount, but also the right infrastructure, the right processes and I think that has made a huge different for us.

ON THE SPEED OF GROWTH
…Making sure you’re prepared for the variability. It’s a very dynamic environment so you have to be comfortable with change. I think you have to be really focused

We talk about focus so often, we actually created an acronym:

F- Fewer things done better
C- Communicating the right information, to the right people at the right time.
S- Speed and quality of our decision making

ON OPEN COMMUNICATION

I hold town meetings every other week. I think open communication is so important and again it comes to the notion of managing speed. The more optics we can provide to our employees, not only of what’s working but also of what’s not working, the better we can all come together to improve what needs to be improved upon or to learn from the things that are working and to continue to invest and share that across all 26 cities that we operate around the world.

ON CULTURE AND VALUES
…For us is taking the time and investing in our culture and values, defining what those mean. For us culture is the collective personality of our organisation and it’s not only who we are, it’s who we aspire to be.

And I think that adding that element of aspiration gives you the permission to dream a bit about the kind of organisation you wanna build

Values are the operating principle we use to make day to day decisions which is a subset of that culture. And once you understand those elements of your organisation you’ve gotta hire against it, you’ve gotta ‘unboard’ against it, you gotta do learning development against it, you gotta evaluate performance against it and it’s all about leadership manifesting it day-in day-out. It’s not enough to put it on the wall, you’ve gotta leave by it.

ON TRANSFORMATION
They key word about this company is transformation; cultural transformation and We think about that in 3 ways:
– We think about transforming the trajectory of our employees’ careers
– We think about transforming our company and realising the full potentials of our platform
– And we think about transforming the world and realising our vision to create economic opportunity for every professional in the world. Where we’re defining professional as the 3.3billion people in the world of course

Jeff Weiner is the current CEO of LinkedIn and former Vice President of Yahoo’s network division. LinkedIn is a a business-related social networking website with over 25 million users around the world.

By  Adejuwon Isola-Osobu, CEO 1500naira.com

Technopreneur: Adejuwon Isola-Osobu

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GOOD CUSTOMER SERVICE

“Good customer service is making customers feel more important than they really are; and trust me customers are really important.”

Customer service

I once had an issue with my blackberry subscription and I went to my network provider’s office to make my complaint. The agent was very apologetic and empathetic towards my plight. He listened carefully when I complained, tried to fix the problem and when he discovered it was beyond him, he promised to escalate it to their technical team. However, It was the next thing that really surprised me. I asked how I could keep track of the progress as I would not like to go through the stress of coming back and he suggested that we exchange numbers. The issue wasn’t resolved for another 72 hours but it wasn’t so bad because of his help all through.

“Attracting a new customer costs 5 times as much as keeping an existing one”. customer-service

A lot of companies are channeling efforts towards marketing and social media. While all of this works, it cannot replace the good old Customer Service. Good customer service is all about bringing customers back. And about sending them away happy – happy enough to pass positive feedback about your business along to others, who may then try the product or service you offer for themselves and in their turn become repeat customers. Here are some tips on effective customer service:

1.       LISTEN

Problem shared is half-solved as the popular saying goes. Hence, being attentive to a customer’s demand halves the problem. Is there anything more exasperating than telling someone what you want or what your problem is and then discovering that that person hasn’t been paying attention and needs to have it explained again? From a customer’s point of view, I doubt it. Let your customer talk and show him that you are listening by making the appropriate responses, such as suggesting how to solve the problem.

 2.       SOLVE PROBLEMS

It’s not enough to just listen and understand the customer’s complaints; you must be able to proffer solutions. Even when the solution to a problem is above you, you should be able to offer temporary respite to the customer.

3.       DON’T MAKE PROMISES IF YOU DON’T INTEND TO KEEP THEM

Reliability is one of the keys to any good relationship, and good customer service is no exception. If you promise an order will be delivered on a certain day or that an issue will be resolved by a particular time, make sure it’s done within the specified timeframe. With customers, it’s always better to” underpromise” and “overdeliver”.

4.       ADD A PERSONAL TOUCH

Customers are humans and as such they have emotions. Be nice to customers just for the sake of it. Good customer service should be taken out of the manual and be inculcated into each team member’s way of life so that it’s effortless. Don’t be afraid to go the extra mile to please customers but be careful not to violate company rules or compromise personal safety in the process. They may not say so to you, but people notice when people make an extra effort and will tell other people.

 customer service agent 3

Happy customers who get their issue resolved tell about 4 to 6 people about their experience. Once your business is known for good customer service, the testimonies will bring you more loyal customers than promotions and other marketing ever did!

 

Isola-Osobu Adejuwon

CEO 1500naira.com