Mayl 2008 | Vol. #6

Best Wishes in an Uncertain Economy

Travelling around the world, I am struck by all the angst and economic anxiety. While no one can discount the impact of increasing gas prices and the US credit crunch, I am amazed by how many people have been swept into a “sky is falling” mentality. This has prompted me to cling to the words of Jimmy Dean who once said “I can't change the direction of the wind, but I can adjust my sails to always reach my destination.” For the remainder of the year may you set and modify your sails in response to the prevailing winds in order to safely arrive at your desired destination.

The 5 Principles of The New Gold Standard

In July my new book, The New Gold Standard, will be released. The book afforded me the opportunity to share my analysis of the key components that have led to The Ritz-Carlton Hotel Company’s legendary service. While obviously I would delight in you purchasing and reading the book in its entirety (hint, hint), I wanted to give you a mini-preview of the 5 principles that I identified as elemental to creating Ritz-Carlton’s memorable customer experience:

v Define and Refine

v Empower through Trust

v It’s not about You

v Deliver WOW

v Leave a Lasting Footprint

While the details are spelled out in the book, the essence of these principles lives in a fastidious commitment to defining core elements of the work culture, attentive listening to the needs of employees and customers to refine service offerings, disciplined selection and training processes, management for outcomes, an unrelenting focus on service and the needs of others, a passion to produce transformational and memorable experiences, and a prioritization of systemic corporate social responsibility.

Here are a few simple questions to ponder consistent with the theme of The New Gold Standard:

v What is the experience you want people to have in your business?

v How clearly and texturally have you articulated that experience?

v Can the front line readily define and work to produce that experience for each customer?

I will share more about The New Gold Standard in my quarterly visits to your inbox!

Resources

The Podcast

The FREE 3 to 5 minute weekly podcast The Starbucks Experience is available streaming online or available for download at

http://www.josephmichelli.com/publications.podcasts.html

The Book

Although the new Ritz-Carlton book entitled The New Gold Standard will not be released by McGraw-Hill until the summer of 2008, it can be pre-ordered:

The New Gold Standard 5 Principles for Creating a Legendary Customer Experience Courtesy of The Ritz-Carlton Hotel Company

Thanks for reading/listening and for all your support. I'll drop into your email box again in three months!

Trim that sail, I feel a strong and powerful wind blowing.

Joseph