If anyone knows about what it takes to launch a successful startup, it would be GPB’s Senior Advisor on Waste Management, Rod Proto. Within the course of his 30 plus year career, he has turned floundering companies on the verge of bankruptcy around to massive growth, and this is the very same strategy he recommends to startups, so they don’t ever hit that major bump in the road.
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What Is GPB Capital?
The important thing to remember when taking advice from anyone whatsoever would be to look at their background. When hearing what Rod Proto has to say, it’s likewise important to look at the company where he works. That would be GPB Capital, but what is that? Very good question!
Take a look at what they do and you’ll understand just how important his position and viewpoints are. GPB Capital is an alternative asset management company located in New York. The focus of the group is to acquire or invest in companies that produce income – but that’s not all they do! Their strategy is to carry those concerns to new heights in profitability and to date, GPB Capital has raised a sum of money totaling a figure higher than $1.5 billion USD. Now, that’s a major accomplishment.
What Rod Proto Sees as the #1 Key to Success
Rodney Proto says that many new companies fail because they are looking at success from the wrong direction. They know they have developed a great product or service, and that’s where their focus rests – on making that product bigger or better – but in their eyes!
“That’s the biggest mistake a startup can make,” he says. “What I have found to be most successful in my years of turning failing businesses around is that they have totally lost sight of the customer.”
Is Customer Service on Its Last Legs?
When Rod Proto turned around a failing waste management company in the early days, he found that companies have lost sight of the end game, i.e. their customers. If you want to succeed as a startup, you need to be willing to hear, really hear, what the customer is saying. Some entrepreneurs simply write off negative reviews because they, after all, are the experts, right? That’s a terrible outlook, says Rod Proto. You must focus on the customer if you are to succeed. Bottom line? Keep customer service alive Keep customer service alive!
Who Is Buying That Product or Service Anyway?
If you want to create something that makes you happy, then do it for your own pleasure. On the flip side, if you are hoping to give consumers (private or corporate) something that they want, you need to focus on what appeals to them, not to you. After all, it is their money being laid on the counter, not yours, so give them what they want!
The best advice to give to any startup is to always remember who is paying your bills. Without those customers, you will be nowhere except in debt, and that is not a fun place to be. Focus on the customer and it will always be a win-win proposition. That’s what every startup needs to hear.