The process of writing about my problems with Hubway – eh hem, Blue Bikes – and their ‘green light’ system reminded me of other frustrations I’ve experienced over the years with various company policies. These stories (each one unique to me in terms of the details yet likely very common to those aware of the various ways companies frustrate their own customers) helped me understand the difference between a good company and a great company: a good company helps you when things are going well while a great company helps you when things aren’t going well.
A good example comes from basic banking practices. Many institutions offer tiered services where they wave maintenance fees if the customer reaches a certain minimum balance threshold. Let’s think critically for a moment – what kind of customer is likely to reach any threshold? What kind of customer is likely to fall below any threshold? When times are good, I’m not going to the bank to make withdrawals on my fee-free account; when times are bad, the bank is ready to pounce by gradually reintroducing various charges and fees.
There are a lot of good companies out there and I think this is why these practices are ubiquitous. As individuals, we are accustomed to following good examples and companies unsurprisingly do the same. But in the organizational context, perhaps great is a better barometer. Good is subject to the whims of many variable forces – the economy, the flavor of the month, the 'wisdom' of the crowd. Great tends to have less interest with these concerns, sticking instead to the deepest principles at its foundation. A great organization endures by setting policies that profit through partnerships rather than exploitation. The logic is simple – customers will always need partners, especially when they can't afford to throw money into profits.
