Is There Really Such A Thing As “Bad Profits?”
Isn’t “any profit” good profit? Not at all. In fact, “bad profits” can absolutely destroy a business. In his excellent book, The Ultimate Question*: Driving Good Profits and True Growth, Fred Reichheld explains (paraphrased) that bad profits are profis that come at the expense of customer satisfaction. In other words, just because someone buys from your company,…