When is a good business model a really good business model?
customers keep coming back for more (76 million per year)?[i]
consistently outperforming you industry rivals (record breaking profits in Q1
shareholder value is growing year on year?[iii]
consistently drive out costs and grow revenues?[iv… receive positive feedback from yourchosen
strategy is clearly stated and easy to understand by employees, management,
shareholders and customers alike[v]?
the Irish airline is a terrific and much envied success. And yet you may hear many criticisms
of Ryanair however as Michael O’Leary, their ebullient CEO points out, they are
not Ryanairs customers.
In fact he wishes they never darken his door again as the Ryan Air offering is specifically
not aligned with “picky, choosy time wasters” (his words not mine).
Part of the magic is a complete focus on understanding their chosen customers successful outcome, and while that may not
include you or me, it is certainly the bulk of travellers in Europe whose
repeat business has helped Ryan Air outperform the sector for the last decade.
So have you personally and has your business really clearly articulated who is
your customer and then defined the business you are in?
objective is to firmly establish itself as Europe’s leading low-fares scheduled
through continued improvements and expanded offerings of its low-fares
to offer low fares that generate increased passenger traffic while
cost-containment and operating efficiencies. (http://www.ryanair.com/doc/investor/Strategy.pdf)