Week 5 - MBA 6101 - Ascend your Start-Up

 

Hello,

The voice of the customer might as well be the voice in the wilderness, for a business. If there are no customers, there is no business. There is no business because without customers, there is no cash flow, starving the business of that vital lifeline. As such, a start-up must understand the needs and hear the voice of the customer. A symbiotic relationship needs to be formed, as the start-up helps the customer accomplish their goals, and in turn the customer helps the start-up grow.

The voice of the customer can only be heard over the roar of daily activities if there is a clear line of communication. The customer can reach the start-up and vice versa, communicating what is needed and providing updates. The start-up cannot sit idly by, waiting for the phone to ring. The start-up needs to take the initiative, reaching out to the customer. Inquiring what the customer needs and how the start-up can provide better service.

This proactive communication builds trust between the start-up and customer. Trust will carry both through the good and difficult times. Toyota understands this concept with both its customers and vendors. Toyota works to operate transparently and conduct itself fairly with its business partners (Toyota, 2022). When massive companies such as Toyota utilize this transparency and communication to improve their business, the start-up knows this is a proven approach. The start-up must go out into the market with their ear’s open, and minds set to the customer experience.

 

Citations:

Toyota. (2022). Collaboration with Business Partners. Retrieved from                 https://global.toyota/en/sustainability/esg/partners/