Perception is Everything - Part 2

I have a friend who was the founder and CEO of an international logistics company.?

One year for Christmas, he gave everyone an extra paycheck as a bonus.?

It went through their payroll service and of course, all the payroll taxes were applied. They were happy, but not overly so.?

He told me his feelings were hurt that his employees weren’t more grateful.

This CEO had hundreds of thousands of miles in his airline account. It was a logistics company, after all. And he did quite a bit of courier work between the United States and Europe. So the following year he decided to give everyone two free airline tickets.

They were ecstatic. They found this gift to be far more valuable. It cost him nothing.?

He still expresses marvel at this turn of events..

In Tuesday's Newsletter, I spoke about perception in the context of politics and the economy. Perception can also impact business in positive ways.?

Let’s say, you have a big customer who wants you to give them a discount. This customer loves football more than anything. She eats and sleeps green and white. She is a Jets fan.

The same year that she asks you for a discount, the Jets make it to the Super Bowl. (Yes, anything is possible.)

You are able to buy two tickets to the Super Bowl through a friend of a friend. You take her to the game. She perceives this as far more valuable than the money she would get with a discount. (Make sure you are following compliance rules in this case.)

The secret to this type of transaction is you have to figure out what your employees or customers perceive as valuable.?

Do this by talking with them. Ask them what they like to do. What is their favorite thing in the whole wide world??

If you can do that, you can create value and satisfaction for all the people that make your business run. It’s a win-win.?