In today’s episode of Framework, Jamie talks with Tom Rollins, the founder of The Great Courses and The Teaching Company. Through his work with The Great Courses, Tom has helped shape the way millions of people learn.
As a student at Harvard Law School, Tom found himself in need of some last-minute information for an exam. After watching 10 hours of tapes on the subject from a world-class teacher, he realized the power that having the best teachers in the world could have on someone’s education.
Out of law school, Tom worked in government, and during his time working with the Senate, he inquired into how we were teaching math and science curriculum. The problem with how we teach and how we fund education was bigger than he could have known. Armed with the knowledge that there was a better way and that he wouldn’t be able to take the traditional path for improving education, he set out to build The Teaching Company.
Tom talks with Jamie about his bumpy start with The Great Courses, how he got it to where it is today, and what he learned along the way. He also shares his insights on why everyone, from CEOs to part-time employees needs to be aligned on delivering value for stakeholders and customers.
(27:25) “You have to match what you promised, what you deliver, and hopefully deliver more than that. And then customers are experiencing surplus, they’re experiencing profit. And if you and I are trading with a company and I effectively make a bunch of money because I get a bunch of customers surplus, every time I do business with them, I want to do business with them more often! ” ~ Tom Rollins
- You have to match what you promise. Deliver what you say you will and then more.
- Customers, employees, and business owners should be working to create value for each other. When done properly, it creates more value than just focusing on one or two groups.
- While it sounds simple, the more satisfied the customer, the more likely they are to give your firm more money to manage. It’s important to turn those who rate you 7/10 into 10/10.
- Everyone from shareholders and board members to part-time employees needs to be aligned on the view that helping all groups in the business creates more value for everyone.
Links and Important Mentions
- The Great Courses
- The Great Courses on Twitter
- David Ogilvy
- Richard Thaler
- Irving Younger
- Influence: The Psychology of Persuasion by Robert Cialdini
- The CEO Formula: How Profits, Justice, and Vengeance Make or Break Companies by Tom Rollins
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