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A service lesson for the “Vampire Squid”

March 14, 2012

Working for Goldman Sachs for 12 years afforded one of their executives to air his exit interview thoughts today in the op-ed section of the New York Times. It’s an inside baseball look into the belly of what Rolling Stone writer Matt Taibbi called “the vampire squid” of investment banking. In simple terms, “Why I Am Leaving Goldman Sachs,” by Goldman executive director Greg Smith, tells the story of a gradual culture shift from customer service to making money. Mr. Smith claims Goldman once made money by delivering great service to customers, but now has an upside down culture focused on making money at the expense of customers. At the end of the piece, he offers his former employer a simple solution:

Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist.

That’s great advice for any service provider.

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