If you're a casual sports fan at most, chances are you haven't heard the name Scott Boras.
He's responsible for negotiating more than a billion dollars worth of contracts for Major League Baseball players, by far the top agent in the sport.
However, Boras' masterful negotiating skills aren't necessarily what sets him apart in the cut-throat sports management industry.
30% negotiating, 70% performance improvement
Boras' subsidiary companies include the Boras Sports Training Institute.
According to this Men's Health article, the institute features a gym, pool, rehabilitation unit, weight room, yoga studio and track, while employing five strength and conditioning coaches and two sports psychologists to advise and train the athletes Boras represents.
"Boras doesn't charge for the services at BSTI," the article indicates. "He argues, idealistically, that better athletes make for better baseball ... He sees his job as '30 percent negotiating and 70 percent performance improvement.'
"Helping those athletes optimize their bodies and athleticism helps him optimize his assets."
Like what you're reading? Don't miss a drop of knowledge. Get my weekly column sent straight to your inbox.
The Scott Boras business model
If you take the phrase from above -- "better athletes make for better baseball" -- and substitute the word athletes with customers, and baseball with business, here's what you get:
Better customers make for better business.
In other words, improving the lives and experiences of customers will consequently improve your business.
Boras isn't the only one who understands the importance of customer experience (which is expected to become the number-one factor in a consumer's decision-making process by 2020, ahead of price.)
Charmin has an app that shows people where they can find clean public restrooms.
The W Residences & Hotel in Israel helps locals and visitors better enjoy the city in which it's located.
B2B jewelry manufacturer GelinAbaci provides its authorized retailers with social media and content marketing assistance.
Want to boost your business and establish a competitive edge in your industry? Start by improving the lives and experiences of your customers.
Josh Hoffman (better known as Social Media Josh) is an international social media consultant, instructor and speaker, as well as the creator of The Social Media Freelancer (a digital hub exclusively for current and aspiring social media managers, consultants and strategists who want to build or boost their freelance business).
Check out more of my content via my content hub >>