At lunch today I was talking with my friend about a new business he was starting. We got into a good conversation about different pricing and business models, especially in relation to what was in the market already. During the conversation, I expressed how passionate I am about aligning the company’s interests with that of the customer. Some common examples come to mind:
- Have monthly contracts (unlike most cell phone companies)
- Only charge if a transaction was successful (like Google Pay Per Action or eBay Motors)
- Provide an unconditional money back guarantee
By building these types of programs into the business model from day one, the company adapts and grows around them such that in the long run the company’s interests stay aligned with the customers’.