Want to grow your business by focusing on what truly matters? The 80/20 rule helps leaders and customer experience professionals prioritize high-impact areas, maximize efficiency, and drive profitability.
In this episode of The Modern Customer Podcast, I sit down with Bill Canady, CEO of OTC Industrial Technologies and Arrowhead Engineered Products, and author of From Panic to Profit, set to release on April 29th.
Under his leadership at OTC:
- Revenue grew by 43%
- Earnings increased over 80%
Key Takeaways from This Episode
AI’s Role in Business and Customer Experience
Unlike many who fear AI’s impact on jobs, Bill sees AI as a workforce enabler. He shares how Elmhurst University’s AI-powered multilingual chatbot is improving global student engagement and enhancing efficiency—without replacing human roles.
The Power of the 80/20 Principle in Business Growth
Bill explains how the 80/20 principle (Pareto Principle) can be applied to business growth, profitability, and customer experience. By focusing on the most profitable customers and products, companies can streamline operations and maximize efficiency, rather than getting lost in low-impact activities.
Turning Difficult Customers into Business Insights
Challenging customers often provide the most valuable insights. Bill explains how listening to difficult customers can reveal blind spots, drive innovation, and improve service delivery. Instead of avoiding them, businesses should use their feedback to refine products, processes, and overall customer experience.
Leadership’s Role in Aligning Employees with Customer Needs
Bill emphasizes that modern leadership requires shifting from a command-and-control approach to coaching and empowerment. He highlights how employee ownership, tool mastery, and cultural alignment create stronger decision-making and a more engaged workforce.
Don’t miss this conversation packed with Bill’s insights on scaling efficiently, prioritizing impact, and leveraging AI for smarter growth.
Listen to the episode on Apple Podcasts, Spotify or your favorite podcast platform.
Blake Morgan was called “The Queen of CX” by Meta. She is a customer experience futurist and author of three books on customer experience. Don’t miss her new book, “The Eight Laws of Customer-Focused Leadership.” To learn more visit www.8CXLaws.com.
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