Explore the concept of 'buying the company' and the diverse considerations that shape our purchasing choices. Learn how consumers vote with their dollars and support forward-thinking initiatives. Understand the significance of brand reputation and trust in consumer decisions. Discover the importance of customer service, longevity, and alignment with company values when choosing a product or service. Consider the impact of personal disagreements and polarizing figures on consumer choices. Learn about leveraging secondary byproducts as a competitive advantage and the value of exceptional customer support in building a brand.
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Quick takeaways
Purchasing decisions express support for a company's innovation, ease of use, values, or specific ethos.
Reputation and longevity are crucial factors when buying a product or service, especially in the SaaS industry.
Deep dives
The importance of voting with your purchases
When making a purchase, it's not just about the product itself, but also what you're voting for. This can include factors like innovation, ease of use, taste, or the values and choices of the company you support. Choosing to support companies that push boundaries and rethink industries, like Tesla, can be worth it even if there are trade-offs or criticisms. It's also okay to have different criteria for different buying decisions, supporting companies based on specific areas of importance.
The significance of reputation and longevity in buying decisions
Reputation and longevity are important considerations when buying a product or service, especially in the SaaS world where trust in the vendor is crucial. Opting for companies like 37 Signals, which provide excellent customer service and have a track record of stability, can be a priority for buyers. Factors like a company's involvement in open source projects or support for other activities can also play a role in influencing buying decisions. Reputation can be a competitive advantage that allows companies to go toe-to-toe with larger competitors, and customers' perception of a brand influences their purchasing decisions.
The power of revisiting and changing buying decisions
It is possible to change one's mind about a company or product, demonstrating the capacity for fluidity in purchasing decisions. Revisiting prior conclusions and being open to new information or different perspectives can lead to a change in perception. Recognizing this and allowing customers the opportunity to reassess their views can be beneficial. Being open to change and embracing the capacity to reconsider one's choices promotes growth and fosters better interactions with customers.
Every time you make a purchase, whether it's a tangible product or a service, you're casting a vote with your dollars for the type of company you want to support and the choices they make.
So, what are you REALLY buying?
Join host Kimberly Rhodes as she sits down with Jason Fried and David Heinemeier Hansson to explore the concept of "buying the company" as they dive into the diverse considerations that shape our purchasing choices.
From supporting forward-thinking initiatives to valuing customer service and longevity, Jason and David illuminate what customers are truly investing in when opting for a smaller, bootstrap business like 37signals. Plus, a look at the ever-evolving nature of consumer preferences.
Tune in for a thought-provoking exploration of the layers beneath purchasing decisions and valuable insights into crafting a brand that authentically mirrors your company's values.
How you’re voting with your dollars when making purchasing decisions, and expressing support for a company's innovation, ease of use, company values, or a specific ethos.
Companies that challenge the status quo and push boundaries can attract consumers who want to support forward-thinking and innovation.
Consumers don't have to apply the same criteria to every purchase, allowing for flexibility in decision-making based on individual values and needs.
A strong brand reputation can lead people to choose a product because they trust the company.
Embracing the fluidity in consumer choices—people can change their minds based on evolving perspectives AND company actions.
How you engage with your customers leaves a lasting impression and contributes to your company's reputation. Whether it's exceptional customer service, longevity, or a commitment to transparency, companies should actively promote the values that set them apart.
Rework is a production of 37signals. You can find show notes and transcripts on our website. Full video episodes are available on YouTube and X (formerly known as Twitter).
If you have a question for Jason or David about a better way to work and run your business, leave us a voicemail at 708-628-7850 or email, and we might answer it on a future episode.