Accept business only at a price permitting thoroughness. Then do a thorough job, regardless of cost to us.
Arthur C. NielsenRead
Be influenced by nothing but your clients' interests. Tell them the truth.
Interpretation
Focus on serving your clients' needs and be honest with them.
This quote emphasizes the importance of prioritizing clients' interests above all else and maintaining transparency and honesty in those interactions. Arthur C. Nielsen advocates for a client-centered approach in business, suggesting that success and trust are built by putting the needs of customers first and communicating with integrity.
In practice
In a business seminar, you could use this quote to emphasize ethical practices.
Accept business only at a price permitting thoroughness. Then do a thorough job, regardless of cost to us.
In business, staying focused requires that you turn most opportunities down.
Know your numbers' is a fundamental precept of business.
As a multisport athlete, I was always fascinated with competition and how to win. At HBS and later at the Harvard Department of Economics, I was drawn to the field of competition and strategy because it tackles perhaps the most basic question in both business management and industrial economics: What determines corporate performance?
I think one of the things people don't understand is we can build more shareholder value by lowering product prices than we can by trying to raise margins. It's a more patient approach, but we think it leads to a stronger, healthier company. It also serves customers much, much better.
When a company or an individual compromises one time, whether it's on price or principle, the next compromise is right around the corner.
If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
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