Their approval processes were too slow. Their products weren't good enough. Similarly, it is useful to consider who aren't your competitors and why. You can also look at who aren't your investors. We can do so by gathering data but, most importantly, we must question our mindset.
Successful firms recognize that only by being dissatisfied can they succeed in the long run.
Any time Peter Drucker speaks, we all should listen. His recent article in your magazine is no exception. However, I'd like to offer a differing view on one aspect of Mr. Drucker's thesis. The cost of obtaining a new client far exceeds the cost of keeping and expanding a relationship with an existing client. Thus, I place great value on knowing the customer.