29 Apr Proud Capitalists
From time to time, when I give the “elevator speech” about what we do at Tenacity, people will respond by asking how we ever got into the business of client retention in the first place. A witty, but not entirely untrue, reply is that we had already learned everything we needed to know about how to lose clients!
My partner John Gamble, acted boldly on the unmet need he perceived, to help companies, systemically, get better at retaining the clients they had worked so hard to acquire. Now, 27 years later, Tenacity, Inc. protects well over $20 billion in management contracts for some of the world’s leading services management companies.
John’s idea, along with the courage, skills and the blessings necessary to act on it, is a great real life demonstration of the free enterprise capitalist system at work. Let’s look back and assess the impact of John’s idea and the value that has been created since:
- Tenacity has created jobs, well over 100 of them, we believe. Because we have flourished in a system allowing for the free and voluntary exchange of capital in return for value, many direct and indirect associates and their families have been sustained, educated and empowered.
- Since value was being provided that others were willing to pay for, significant wealth was created. Profitable and sustainable business is the only entity in the world that actually creates wealth – nearly all other institutions exist by consuming it. The wealth Tenacity created has flowed back into the US economy and others and helped to create even more jobs indirectly. As John and Marty will attest, manufacturers of airplane parts, FBO’s and other associated businesses have fared particularly well from the client retention idea.
- Along the way, we (and they) have paid plenty of taxes. We trust that those tax dollars have been spent and invested wisely by our leaders in helping to build our nation and to keep it safe and our people nourished and cared for. As we owe taxes to them, they owe those assurances to us in return.
- Myriad more mouths have been fed around the world, in some of the poorest places imaginable, through charitable gifts and philanthropy generated by our partners, associates and friends. Clean water, micro-financing, educational opportunities and many other initiatives are hard at work transforming these “neighbors” of ours (“the least of these”. The impact of wealth creating businesses that understand what is required of those to whom much has been given, is life changing – for everyone involved!
We are proud of John and of all that Tenacity and Clients for Life® has accomplished to date. Our story is not unique though – it has been replicated in other formats millions of times. We are unapologetic, free enterprise, capitalists. But we also recognize that this amazing system that has built and sustained our nation for so many prosperous years, is under attack. For the last 40 years or so, socialism has been “creeping”. Now it’s leaping and, alarmingly, it is finding a host to take root in the soft underbelly of an increasing number of our nation’s young people.
We’re going to explore both the problems and potential solutions over the next few weeks. We hope you’ll stay tuned and stay patient through this quasi-political season of our blog and give us the benefit of your comments and feedback.