Friday, March 01, 2013
Groupon CEO's parting words
In a letter to the employees of Groupon, Andrew Mason the co-founder and CEO [who was just booted out by the board this week] left these words:
"If there's one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on what's best for our customers."
You may ask yourself what he used for decision making if not data or his gut.
My take is that he knew Instinctively what the right thing to do was, based on what he knew his customers were demanding (personalization perhaps?). But he allowed the board to demand more empirical evidence before making the investments. Classical analysis paralysis, Then holding the team (or in this case the CEO) accountable for not meeting goals.
I applaud Andrew for standing up, even on his exit, for what he believed.
He was awarded a whopping $378.36 in severance. That is adding insult to injury.
But not to worry. The quirky Mason won't be leaving as a pauper, though. Mason holds nearly 47 million shares of Groupon, worth about $213 million at Thursday's closing price.
What would your parting comment be? Are you listening to your intuition about the customer?
In reference to " Richard Anderson, Delta Air Lines (5Q Interview) " As a follow on to my earlier article last week about doing...
I am now going to shift gears away from online technology and the role that they play in the travel distribution ecosystem to a topic that I...
You fully understand that rung #1 of the ladder is spamming and you've gotten past rung #2, noise. You get it -- that in order to reall...
UPDATED - March 12, 2014 Well, in the world of travel distribution on the OTA side of the equation, if Travelocity was the "come...
Part 2 of a 2 Part Series on Individual Relationship Management (IRM) versus Customer Relationship Management (CRM) which is flawed B...
2011 starts today – The Era of Social Commerce is here - Solutionz Media and GuestCentric Systems partnership announcedIn the "The Future of the Social Web," report released by Forrester in April 2009, by Jeremiah Owyang, a Forrester senior analys...
This week, Bloomberg announced that Sabre raised $627 million in its IPO. Actually I don't think you should be allowed to call ...
If you are familiar with the game of dominos, there are dots on each domino and the placement of a domino on each turn requires that you mat...
Although the customer is now decidedly multi-channel, the components of the travel cycle have not really changed over the years. ...