I recently went one on one with Michael Podolsky, the co-founder and CEO of PissedConsumer.com, a consumer advocacy website. With over twenty years of experience on Wall Street, Michael went from a customer service manager to an independent entrepreneur. Since 2006 Michael has been involved in technology development, search engine optimization, legal strategy, and overall management of the site. Michael is a known consumer rights advocate.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?

Michael: I’ve studied a lot and completed two degrees - in computer Science and Finance. I spent twenty years on Wall Street going from the Help Desk Assistant to the Director of Investor Services Technology for one of the largest Hedge Administrators on Wall Street. I’ve always looked into the direction of entrepreneurship and was determined to start my own business one day.

Eventually, 14 years ago, it happened that I got into a very unpleasant situation personally.  I was sent on the wrong vacation, and all my attempts to resolve the complaint through the hotel, travel agent or credit card have failed. I got pissed, turned around, and started a business with my partner. We’ve created a platform for “pissed consumers” where they can voice their issues, draw attention to their problems, and find solutions. This was something I needed at that time when I faced the disappointment as a customer. 

At that time I realized that when someone is upset, it’s a powerful emotion that can inspire you to get things done.

Adam: How did you come up with your business idea? What advice do you have for others on how to come up with great ideas?

Michael: The negative experience during my vacation led to starting the business. As an unsatisfied customer, I was determined to find a solution. Although my issue wasn’t resolved, the situation led to the idea of creating a business. 

I figured out that people often get in such situations, and it would be great to create a platform that helps them reach out to companies and other consumers, and bring attention to their consumer issues. I was passionate about the idea and wanted to bring it to life.  Publicity brings a difference to resolution of issues.

So, I would advise entrepreneurs and young businessmen to follow their instinct and passion. This passion made me more productive because I invested time in business and its growth. Personal time investment is always more valuable than money. You can earn money, but you can’t bring back the time. So, if you feel like you’re ready to invest your time and you are passionate about it, then you’re on the right track.

Adam: How did you know your business idea was worth pursuing? What advice do you have on how to best test a business idea? 

Michael: As has been said, the business idea is worth pursuing if you are passionate about it. However, that doesn’t mean you have to dive headlong into it. At PissedConsumer.com, we don’t jump into new ideas. First, we think, analyze, and test everything to see what works and what doesn’t, and only then, we implement. Once we implement, we analyze the results and collect users’ data to see if our newly implemented ideas are justified. So, you need to take many tests and analyze results before you take your idea to the next level.

Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?

Michael: The greatest asset for any business is people. It is challenging to find the right talents to work with you. Most importantly, a great team is the one that shares your passion and ideas. When you start to grow a business, your key challenge is people. 

When people are motivated to work, have a safe environment, and feel the support of top management, you’ll see great results achieved within an organization. And these results will directly impact your business.

The idea could be roughly reflected in the “1-7-49-100” scheme.

For a business owner, it’s always a challenge to pass the culture of the organization through middle management tiers to lower-level employees, to maintain the culture of the organization as it grows and expands. 

So, here’s how this scheme works:

First, there is one (1) person at the top who manages their time. Judging from my experience, this one person can manage up to 7 people as a team. If this number is exceeded, you need to hire more managers and start thinking about education and the ways to maintain the team’s growth.

Then, underneath this team of 7 people, you’ll have up to 49 new members managed by them. 

Now, as the top person who was one of the first to start the business, you are two levels away from the rest. And once you get there, you have to do your best to maintain the corporate culture, to keep educating your team through senior management, and make sure that everyone in the company shares your values, vision, and passion. 

Finally, when you have over 100 personnel in your organization, you become a corporate institution that requires senior management as well as time to grow and build a corporate culture.  It is important not to lose the culture and passion that business has been found by.  

Adam: What are your best sales and marketing tips?

Michael: There’s no one-size-fit-all marketing tips because it always depends on the business and industry. However, I can point out the service.

My advice would be: provide excellent service to your clients and they will refer back. It’s a common marketing practice. For instance, many business owners underestimate the impact of customer service for their companies, though it’s the vital marketing instrument for your growth and expansion.

When you provide good service and you have responsive customer support, your business earns loyalty and respect. A loyal customer is worth many new ones. Even if you fail at some point, it’s very important to admit failure, respond to it, and offer a solution. You need to make sure customer satisfaction is kept at a high level. It’s not about giving people what they want, it’s about listening to them, communicating with them, and building a community of loyal customers who respect you and your brand. 

The excellent service will ensure the customers’ loyalty. Your customers will praise your product or service and spread the word. And that’s how your clients become your brand advocates. 

We’ve already opened other businesses based on recommendations from our returned clients. So, my advice would be look into your product and service, monitor your customer satisfaction, analyze data, and then use these insights to improve your marketing strategies.

As a CEO of a review platform, I can say that the majority of issues faced by consumers concern the quality of service and customer support. We see hundreds of complaints about companies that don’t deliver on their promises. There are many consumer complaints stating that customer support haven’t dealt with their issue. So, if you want to have more sales, your best marketing strategies should focus on providing the best services and the best customer support.

Adam: What are your best tips on the topic of customer service?

Michael: Every business faces problems at some point. When it comes to customers, issues occur due to miscommunication between brands and clients. It’s not just customer service. If the advertisement screwed up, it’s the customer service that suffers as a result because they are the front-workers at any company.

The customer service should be able to propagate messages through the right channels to top management. They need to ensure that the client’s message is correctly understood and delivered. And the vital part of any company is to listen to their customer service. If something doesn’t work, the customer service will be the first unit attacked. 

So, the role of customer service is not only to resolve customers’ issues, but to listen to them, to communicate with them, and deliver the right message to appropriate management. 

Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?

Michael: An effective leader is one who provides guidance, encourages people, and shares their passion. First of all, as a leader you should be able to recognize talent. It’s important to hire the right people that will follow your passion. More to it, the right leader is one who listens to their team. Of course, it’s up to a leader to make decisions. At the same time the input from your followers is important, so don’t ignore it. 

Sometimes your team’s ideas can spark the light of something essential for your business strategies. You should listen, give everyone within your team an opportunity to express their thoughts and share feedback. By ensuring effective and meaningful communication, you can recognize new talents and inspire their growth. It is also about commitment. Those who follow your passions are empowered by you and will stay committed. 

Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?

Michael: Be it an organization, a company, or something else, the leader is a key figure and example in the eyes of others. It’s not easy to be a leader, however, once you step into this tough role, you should: 

1. Spend more time listening rather than talking.

2. Let your actions speak for yourself. 

3. Highlight the benefits of what you do, mark it.

And the order of suggestions here is very important.  

Adam: What is the single best piece of advice you have ever received?

Michael: There’s one good piece of advice I always keep in mind: “You cannot be promoted if you cannot be replaced.”

We build a fluent organization where I can move my team members from position to position based on their talent and assets. Most importantly, we keep learning, we listen to each other and keep up with progress. That said, you don’t just stand still. You go out of your comfort zone, you read more, explore more, and grow.