Got a little time over the Memorial Day weekend to do some reading. I’m not too far into the book “Linchpin” by Seth Godin but I found this passage interesting:
“Consumers are not loyal to cheap commodities. They crave the unique, the remarkable, and the human. Sure you can always succeed for a while with the cheapest, but you earn your place in the market with humanity and leadership. It’s certainly possible for a shopper to buy food more cheaply than they sell it at Trader Joe’s. But Trader’s keeps growing, because the combination of engaged employees, cutting-edge products, and fun brings people back. Even people trying to save a buck.
The cheap strategy doesn’t scale very well, so the only way to succeed is to add value by amplifying the network and giving workers a platform, not by forcing them to pretend to be machines. The fickle nature of price-shopping consumers is bad new for many companies, the companies that tried to be cheap at all costs, because now they must figure out how to make a profit from expensive, unique, disobedient employees.
Those are the only two choices. Win by being more ordinary, more standard, and cheaper. Or win by being faster, more remarkable, and more human.”
I’ve heard the expression, “the person who owns the relationship owns the business”. Do you think this holds true in the fastener industry?
Which companies in the fastener industry are trying to win by “being faster, more remarkable, and more human”?