•You will hear a radio interview with Martha Flowers, the Managing Director of the MAX chain of sandwich bars. •For each ques

Man: Martha Flowers, you’re the founder and managing director of MAX Sandwiches. First of all, thank you for agreeing to speak to us.
Woman: You’re welcome.
Man: I’d like to begin by asking you to tell us something about how you started what is now a very successful business.
Woman: OK, eh. I started it because I was hungry really. There was nowhere to buy something cheap yet healthy at lunchtime. And I spotted a gap in the market. I set up the business with a partner.
Man: What? Someone who knew the business?
Woman: Yes, he’d had lots of hands-on experience. However, the first three years were difficult. We worked all hours and hardly made any profit. We just didn’t have sufficiently clear ideas of what we wanted, and frankly we were lucky to survive. These days we are very much more focused.
Man: Martha, would it be fair to describe MAX as just one more fast food company?
Woman: No. We’re definitely not that.  For us, it’s all about selling naturally made products at reasonable prices, not selling cheap food fast. Having set that, the fast food chains do some things very well. And I’d like us to imitate the good aspects of how they operate. What I mean is we should cut out waste the way they do, not waste time or materials.
Man: All right, so that’s the aim. Now I’d like to ask you something about how you actually run your business like.  Are you, like so many executives nowadays, a slave to your diary?
Woman: No, I am not.  I don’t even own one.  I find this lack of structure gives me immense flexibility. I really don’t see how you call get things done if you’re tired down all the time. I am sorry for my secretary, who has to cope with the way I work, but for me it’s the only way.
Man: But how are meetings scheduled?
Woman: Well, this is another thing.  I hate meetings. The only regular feature of my week is the senior management team meeting.  And we focus there not on details but on major issues. This means I can actually spend about 95% of my time listening to customers. And this is really the key to how I nm my business life-listening to our employees, because they can often tell you how to get things right.
Man: Your approach certainly seems to be working. Your company is expanding all the time. How do you account for this success?
Woman: We’re a high volume low margin business. We only make a little profit on everything we sell, so basically we have to sell a lot. And the secret of success in a business like this is a loyal customer base.  It’s as simple as that.
Man: Well, obviously the next question is what exactly do you do to keep your customer’s loyalty?
Woman: We have to look at three things. The price of the product, the quality of the product and the attitude of our employees. They have to understand one thing very well indeed, and that is. it’s the customers who pay their salary.
Man: Martha, if you were asked to give just one piece of advice to someone who is staring out in business today, what would you say?
Woman: I’d say, look at what other people in your line of business are doing. It’s absolutely vital.
Man: But doesn’t everyone monitor what their competitors are doing?
Woman: Perhaps they do, but the important thing is what action you then take. A lot of people seem to monitor what’s going on so they know what their feelings are. Then they do nothing about it. I find it most extraordinary.
Man: Martha Flowers, thanks very much for talking to us.
Woman: You’re welcome.