Are you a company that makes business decisions based on what will look good on your quarterly earnings announcements? This is a real customer experience killer. Focusing on short-term profits is a quick way to destroy your customer experience. It was even satirized in the well-loved HBO television show Silicon Valley. “The product isn’t the platform, and the product isn’t your algorithm either, and it’s not even the software. Do you know what Pied Piper’s product is?” “Is it me?” Richard asks, as inspirational music builds behind him. “Oh, God! No! No!” Jack shrieks. “Pied Piper’s product is its stock. Whatever makes the value of that stock go up, that is what we’re going to make.” In an interview with NPR “Fresh Air’s” Terri Gross the shows creators talk about the irony of the Silicon Valley itself, where Bay Area hippie culture meets the realities of cut-throat tech scene. Let’s take a lesson from JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, who recently told Bloomberg “corporate leaders shouldn’t give earnings guidance because they can’t predict the future and should focus instead on long-term performance.” In a Bloomberg Television interview he recently said some CEOs “start making promises they shouldn’t make. Don’t make earnings forecasts. You don’t know what’s going to happen every quarter. I don’t even care about quarterly earnings.” Do you think that the amount of knee jerk reactions that actually end up hurting companies decrease if companies abstained from quarterly earnings announcements?
Note: Actor’s name is Thomas Middleditch.
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