Cost reduction for high-end markets

If you sell at the top of the market (luxury travel, services to Fortune 500 companies, financial services for the wealthy...) you might be tempted to figure out ways to cut costs and become more efficient.

After all, if you save a dollar, you make a dollar, without even getting a new customer.

Resist.

The goal shouldn't be to reduce costs. It should be to increase them.

That voice mail service that saves you $30,000 a year in receptionist costs--it also makes you much more similar to a...