Fred Reichheld: How to Build a Business Customers Can't Stop Recommending | Entrepreneurship | YAPClassic

**Hala Taha** (0:03)
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Hey, YAP fam, we're about to launch something that might be my favorite thing we've ever done on the podcast, a brand new series called How We Profit. Now, I've been doing Young and Profiting Podcast for eight years and my listeners are successful. We are real entrepreneurs with real businesses and a lot of you guys are crushing it behind the scenes. You may not be super famous, you may not be a billionaire yet, but you've got a business that you've learned how to scale and we want to hear from you. One of the best ways to learn as an entrepreneur is from your peers. I found it super helpful to be in these peer entrepreneurship groups and learn from other entrepreneurs who are at my level, but just in a different industry. That's what I want to bring to this podcast. I want this to be our own peer group, but on the podcast and so I'm going to be interviewing people who are making anywhere from $500,000 to $10 million a year. They're not super famous, they're not the typical billionaires that are on my show, these are real entrepreneurs who are crushing it behind the scenes and we're going to uncover what they do to sell, how they get their customers, what their profit margin looks like, how they market and so much more. If this sounds like you and you want to be featured on Young and Profiting Podcast for our How We Profit series, just head to youngandprofiting.com/apply and share your story. Let me know why you think you should be featured on the show. Again, that's youngandprofiting.com/apply and who knows, maybe you'll be our next guest on Young and Profiting Podcast. What's up, YAP fam? Your customers can be your best sales team, but only if you give them something worth talking about. I've seen this in my own business. So much of our growth has come from relationships, referrals, and people having a great experience with YAP Media and wanting to spread the word. That's what Will Gadara taught us on Monday. Hospitality makes people feel seen, valued, and remembered. Today's YAP Classic is the perfect follow-up because great hospitality creates great customer loyalty. So today, we're bringing back my conversation with Fred Reichheld, the creator of Net Promoter Score and one of the top voices on customer loyalty. Fred reminds us why the best businesses do not just chase new customers, they create loyal fans who come back, bring their friends, and help the business grow. So with that, let's get into my conversation with Fred Reichheld. Hey, Fred, welcome to Young and Profiting Podcast.

**Fred Reichheld** (3:18)
Thank you. Great to be here.

**Hala Taha** (3:19)
I am excited for this conversation. Thanks for joining me. So before we get into customer loyalty and what it means to love your customer, I would love to back up. And I feel like a good place to start is right after college. From my understanding, you've been working at your job, Bain & Company, since you graduated in 1977
It's not often that somebody stays at the same company throughout their whole career these days. So granted, you are half time now, but you still rep that organization. And to me, it seems like you really took a different approach. You were an entrepreneur within the organization. You launched iconic products like NPS. You've been speaking, writing books, and I'm sure that kept things interesting for you. So my first question is, why did you stay so long at Bain & Company? How have you kept it spicy all this time? And why did you decide to stay there your entire career?

**Fred Reichheld** (4:08)