Monday, April 19, 2010

The Three Ps

A banker friend of mine told me her financial institution was successful because they focused on three Ps:

Her bank (a huge one, fyi) has spent countless hours creating products they think are relevant and will stand out in the marketplace. They have processes to handle virtually every client interaction in the right way. And, they've focused on hiring the right people in the numerous markets they're in.

My friend told me this system works and that if she left that company, she (the people "P") could be replaced with someone else who will follow their processes (another "P") and offer their products (the other "P").

I applaud any corporation that simplifies its approach so that it's memorable and achievable.

A thought I have when hearing her Three Ps: none of this works well without the right person. The right person can take a mediocre product and a non-existent process and still serve a client well. If you offer phenomenal products and a superior process, yet have a detrimental sales force, you're sunk.

The fact that she was proud of their Three Ps and shared it with a customer shows me that her company made a great choice in hiring her--they got that "P" right. And she gets all my business because of that.

Barry LaBov
LaBov & Beyond
LaBov Sales Channel
PB&J Newsletter

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