Michael Rapino Quotes

Only a few businesses will succeed by having the lowest price, so most will need a strategy that includes customer services.

We can learn from IBM's successful history that you don't have to have the best product to become number one. You don't even have to have a good product.

Market share is key.

If you don't listen to your customers, someone else will.

If we can keep our competitors focused on us while we stay focused on the customer, ultimately we'll turn out all right.

The best mental effort in the game of business is concentrated on the major problem of securing the consumer's dollar before the other fellow gets it.

Make your product easier to buy than your competition, or you will find your customers buying from them, not you.

Look, I think that when we started Virgin Atlantic 30 years ago, we had one 747 competing with the airlines that had an average of 300 planes each. Every single one of those have gone bankrupt because they didn't have customer service. They had might, but they didn't have customer service, so customer service is everything in the end.

You can win with the best product, the best price, or the best experience.

Customer service will become the primary value added function of every business.

Whether you have incredible products like at Apple or a great service business, it all comes down to fundamental trust and relationship-building with your customers.

It was our belief we should have a customer base and that the catwalk was actually supporting and increasing the business.

One of the things that slightly annoys me in business is that we use words like innovation. Young people often think innovation is about doing something new, but actually it's not. It's about doing something better than your competition.

There are millions of business ideas out there but only a tiny percentage of businesses succeed.

The only real way to differentiate yourself from the competition is through service.

You have to treat your employees like your customers. When you treat them right they will treat your outside customers right.

The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.

The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more products and services.

It used to be that companies with industrial economies of scale created business success. Now, success will come from the information economies of scale, either the ones with complete breadth, or complete depth.

If you make a sale, you can make a living. If you make an investment of time and good service in a customer, you can make a fortune.

Customers don't just buy a product - they switch from something else. And customers don't just leave a product - they switch to something else

To be successful, innovation is not just about value creation, but value capture.

You can look at the cost structure of an incumbent company and discover: where are they not going to be able to drop their prices... because that business model is fundamental to the existence of the company.

Best way to succeed is to do things for the customer, not to the competition. Very few people buy a product in order to help you hurt the competition. To think otherwise is lunacy.

Building a business and becoming a billionaire is it's not championship. It's the competence; the competence in your sector with other companies not looking to have some kind of records in this issue.