Companies That Thrive During Tough Times Share These Traits

By Ernan Roman, ERDM Corp

In the same economy and same consumer market in which thousands of retailers and brands are struggling, others are thriving and growing. Why? What drives the outcome of “something went wrong” versus “things are going great?”

Their “secrets” become apparent by understanding who they are, who they serve, and how they connect with customers in a value-driven, sustainable way. It all starts at the very top.

“CEOs must create a culture where the key measure of success is the success of your customers,” said Serge Saxonov, CEO of biotechnology company 10x Genomics. “To achieve that, the company must constantly seek unbiased, unadulterated, and blunt feedback from customers and prospects. That will keep the company from creating its own version of ‘marketplace reality.'”

Employees also factor into the equation. “CEOs must ensure that every employee cares passionately about the success of customers and make decisions based on ensuring that customers succeed,” Saxonov told me. “This will drive the sustainable success and growth of the company.”

Here’s a look at three success traits traits driving success at a trio of top brands.

See full article here.

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