O’Leary: boost customer service, unshackle sales to succeed

In a Wednesday afternoon keynote, Kevin O’Leary, an entrepreneur and investor known for the TV shows, “Dragons’ Den” and “Shark Tank,” shared insights on business success including the importance of high customer service and putting no limits on how much successful sales people can make for growing a company.

O’Leary said success will follow companies that significantly increase customer service levels beyond what competitors can deliver. Companies with the best customer service, he added, can increase prices and thrive, while the customer service laggards will suffer. “If you let your customer service slip into the third or fourth quartile, your competitors will eat your lunch,” he said.

Known for his tough-edged views on business, O’Leary said employees are “valuable assets,” but not necessarily your friends. The best that company leaders can do with employees, he added, is to set clear goals, “and then get out of the way and let employees do their jobs.”

He also advises that no caps should be put on pay for successful sales people, even if they end up making more than top executives, since ultimately, it’s sales that grow a company. Companies should continue to invest in systems like customer service management (CRM) or logistics systems that support sales and improve customer service, he added. “Use [technology] as a weapon,” he advised.

Modex 2016 is scheduled to be held April 4-7, 2016 in Atlanta’s Georgia World Conference Center. The tradeshow will showcase the latest manufacturing, distribution and supply chain solutions in the material handling and logistics industry. Modern’s completeModex coverage.