Gyaan Sutra On entrepreneurship and technology

This is how you do business.

When I started looking for a place to host this blog and the company website, Mr Google told me that there were thousands of places where I could do it. Eventually, after a lot of digging I reached this site called HostMySite, and a couple of other web hosts, and I mailed them my requirements.

Most of them never came back to me. Some of them mailed automatic responses, yet this one, HostMySite.com, replied within 20 minutes. At first I thought, it was like a one-hit wonder, so I mailed them again. Another 20 minutes later, they were back, with the solution. I liked it so much, I bought everything there.

This is basically what you need to do in order to succeed in business. It is not about how big your company is, or how much revenue you get, but about how well you can respond to your customers needs.

And just yesterday I came across this article on ITSolutions. It is about how HostMySite has managed to grow by 573% in 3 years. If you are still not impressed read on

HostMySite shocks customers with a bold solution to the problem. Rather than listing supported products, HostMySite topples convention with unlimited ‘best effort’ support for any product under the sun. If it goes online, HostMySite will help. Many hosts cringe at offering this level of service, because it’s difficult to control costs and it creates an environment where customers call you first for assistance. But the upside is huge.

Ecstatic customers create a flood of word-of-mouth business. This lowers advertising cost and reduces churn. Customers are spoiled by the service and become ‘un-switchable’. The odd customer that leaves for price usually returns. In this commoditized industry, HostMySite has never had to lower prices yet has grown an astounding 573% in 3 years. These stats landed them the 190 spot on Inc.500 Magazine’s list of the 500 fastest growing privately held companies.

This is exactly what I am doing - Telling you about these guys.

Business is not just about the business model. It has to stay in the background. Agreed that you have to earn money, but the fact remains that your product, or service needs to make the consumers so happy, that they can’t stop talking about it.

And this doesn’t come easy. Keeping people happy is a full time job in itself. Doing that with your daily job, with all the pressures of life, is what separates good businesses from bad.

Nobody ever business was easy.

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