Fluid...... a substance that moves, transforms, or adheres to current conditions. It is a metaphorical survival guide to contemporary business. Today's entrepreneurs need to be malleable, FLUID, and diversified. One minute you are in the heat of the business hot seat, and in the next you are yesterday's news. One must always adapt and change to market trends, social media, and current directives. As in a personal stock portfolio, if all of your eggs are in one basket..... you know the adage. In regards to this brief post, if all of your business investments are in online advertising, or virtual marketing, and things go awry because your sponsored search engine changes the rules.... back to square one. For another example, if your business invests heavily to promote or use "Adsense" solely or secular SEO strategies for marketing or sponsored advertising, and trends online shift like the breeze, you will be left behind.
The heading to this particular brief blog is fluidity. It is more important now than ever in a fickle local, national, or global market. Adaptation to market changes and trends for survival and growth is crucial. Do not wed traditional medias and marketing for the long term. In the drop of a hat a new platform may emerge where gaining and edge or catching a rising tide will mean the literal difference between sink or swim for your business. Look into hiring a brilliant, fore thinking and well sought after marketing agent or publicist. It will be well worth your dollars if invested wisely. Entrepreneurs must be constantly vigilant in their research, observation and dedication to emerging markets or technology trends. The day does not run 9-5 for successful business owners. They are on call 24/7 to answer the call of trends, and emerging marketing. Keep that phone handy and those synapses firing. It is your best weapon to combat the fluidity of ever changing markets and fickle global trends!!!
Monday, July 22, 2013
Thursday, July 11, 2013
Your Business is Only as Strong as Your Weakest Team Member!
In today's rapidly moving business world, the old adage, "strength in numbers," does not necessarily apply. Contemporarily, the opposite is true. Strength in QUALITY, not numbers should be a focus for entrepreneurs. The most successful businesses today have an emphasis on team-building, an instilled belief in a company motto or moral code, and a shared focus for success. Accountability to one another from a CEO on down to sales staff is critical for a happy workplace. From a happy workplace stems happy employees, and from happy employees stems happy clientele.
We have all seen shows like Undercover Boss, etc. This lightly touches on the issue I am speaking about here. Most of those shows highlight a big Fortune 500 company. These companies have vast overarching policies regarding demeanor, etiquette, dress, etc. These "morals" or "company standards" get lost in the sheer myriad of employees within a given company. I am not emphasizing that these companies do not hold their standards high and expect great things from their staff, however, by sheer magnitude, it can get lost in translation with a bigger focus on product volume. However, there are some large companies that do emphasize quality over quantity. Ask any Google employee what I am talking about, or Hari Mari. Think of this; when was the last time you went to a major fast food chain, department, or superstore and were floored by the customer service or products? Answer with RARE exception? Hardly ever. There are ways that these companies can better instill these things in their employees if quality was a priority over quantity. My advice? Revamp an orientation program to focus on five star service. Focus on pointed company beliefs/standards heavily to instill them in your staff. If they do not buy into what you are doing or the quality you are providing, neither will your customers.
Smaller businesses live or die by quality. These entrepreneurs have a few, if any, employees. If they don't nail an exchange, sale, or experience from a new or prospective client, they are toast. Small businesses primarily rely on repeat customers. They work hard to build relationships with people in all aspects. I have seen this in sales, marketing, restaurants and bars, etc. Everyone know a "regular" when they stroll in or call. This is the lifeblood for small business. Happy clientele equals returning revenue (or the ever important REFERRAL!). Side story, I absolutely love my dentist. I grew up thinking dentists were the spawn of Satan only to be placed on earth to torture humankind. My dentist's office today has a very small staff of highly trained people who make me feel wanted, special, and well taken care of. The doctor himself heavily invested in community, training, hospitality, and quality before opening his practice. Initially it was expensive, but it has paid tenfold in itself as he has more referrals than his office can handle. They have patients on a waiting list trying to get in! Each employee he has believes in what his office represents and that the care they give is the best in the city. Go to the best restaurant in your city and you will probably find the same thing; a line waiting out the door or no way to get in without reservations for weeks. I guarantee you it is not for the burger alone, it is the experience and the TRAINED staff/team that is taking care of your night out.
My point is this; investing in your business beliefs, expectations, training, and the human factor will pay dividends. Whether you open a small dry cleaners office down the street, or the next Google, the initial time and sweat equity of creating a happy team around you will be more than worthwhile. Bring focus to a well-founded orientation or HR program for new hires. Have a rotating refresher for your staff every year. These simple things will pay off exponentially. Not just morally, but fiscally as well. More and more, these two seemingly separate entities are weaving themselves together in our business world today. Believe that people are important (customers AND employees), and all will fall into place. Remember, your business is only as strong as your weakest team member!
We have all seen shows like Undercover Boss, etc. This lightly touches on the issue I am speaking about here. Most of those shows highlight a big Fortune 500 company. These companies have vast overarching policies regarding demeanor, etiquette, dress, etc. These "morals" or "company standards" get lost in the sheer myriad of employees within a given company. I am not emphasizing that these companies do not hold their standards high and expect great things from their staff, however, by sheer magnitude, it can get lost in translation with a bigger focus on product volume. However, there are some large companies that do emphasize quality over quantity. Ask any Google employee what I am talking about, or Hari Mari. Think of this; when was the last time you went to a major fast food chain, department, or superstore and were floored by the customer service or products? Answer with RARE exception? Hardly ever. There are ways that these companies can better instill these things in their employees if quality was a priority over quantity. My advice? Revamp an orientation program to focus on five star service. Focus on pointed company beliefs/standards heavily to instill them in your staff. If they do not buy into what you are doing or the quality you are providing, neither will your customers.
Smaller businesses live or die by quality. These entrepreneurs have a few, if any, employees. If they don't nail an exchange, sale, or experience from a new or prospective client, they are toast. Small businesses primarily rely on repeat customers. They work hard to build relationships with people in all aspects. I have seen this in sales, marketing, restaurants and bars, etc. Everyone know a "regular" when they stroll in or call. This is the lifeblood for small business. Happy clientele equals returning revenue (or the ever important REFERRAL!). Side story, I absolutely love my dentist. I grew up thinking dentists were the spawn of Satan only to be placed on earth to torture humankind. My dentist's office today has a very small staff of highly trained people who make me feel wanted, special, and well taken care of. The doctor himself heavily invested in community, training, hospitality, and quality before opening his practice. Initially it was expensive, but it has paid tenfold in itself as he has more referrals than his office can handle. They have patients on a waiting list trying to get in! Each employee he has believes in what his office represents and that the care they give is the best in the city. Go to the best restaurant in your city and you will probably find the same thing; a line waiting out the door or no way to get in without reservations for weeks. I guarantee you it is not for the burger alone, it is the experience and the TRAINED staff/team that is taking care of your night out.
My point is this; investing in your business beliefs, expectations, training, and the human factor will pay dividends. Whether you open a small dry cleaners office down the street, or the next Google, the initial time and sweat equity of creating a happy team around you will be more than worthwhile. Bring focus to a well-founded orientation or HR program for new hires. Have a rotating refresher for your staff every year. These simple things will pay off exponentially. Not just morally, but fiscally as well. More and more, these two seemingly separate entities are weaving themselves together in our business world today. Believe that people are important (customers AND employees), and all will fall into place. Remember, your business is only as strong as your weakest team member!
Sunday, July 7, 2013
Today's Name of the Game....
Throughout history, there have been monumental paradigm shifts that have shaped, re-aligned, or restructured the world we have lived in. Whether it was the taming of fire, discovery of precious metals, the Renaissance, or World Wars, the name of the game for survival was MALLEABILITY. This holds true for today's business world as well. I am a strong believer in this term. Malleability is usually used when referring to metals, but is also a terrific metaphor for survival. Initially in history, metals were heated, distressed, bent, smashed, hammered, and reshaped into new and useful items of value. The more malleable and durable the metal was, the better it became as an asset (steel vs. iron vs. bronze, etc).
In an ever changing and rapidly shifting business world, this term is key for survival and longevity as well. Today's most successful new businesses have this ability and do it remarkably well. They adapt to new markets, non-traditional techniques, they break from the norm, invoke new business mantras to meet new needs. Think of Newsweek dropping paper print and offering only digital copies of their media. The development of cloud service industries that have eliminated tangible store houses, rooms, and entire departments staffed by people saving millions for businesses is another great example. Amazon is a juggernaut in this sense. Also think of social media enterprises and the promise they offer, mobile apps and the ease of interaction with consumers now available. New businesses should move and flow fluidly, increasing the chance of start-up survival. Ebb and flow is necessary in todays world. Adopt new technologies, develop fresh ideas in new markets/industries, research what has been done, and invest on what has not.
If new businesses are married to traditional business styles, plans, marketing, and advertising, they will be devoured by quicker moving, adaptable, and malleable businesses. Traditional business plans and styles will become the likes of Ancient Rome, Greece, or the Inca. Unable to adapt or shift to a new world rising around them, they crumbled to the ground as the rest of the ranks swelled, gradually drowning these once great empires into memories. Change is inevitable, and good for business if you can survive it.
In an ever changing and rapidly shifting business world, this term is key for survival and longevity as well. Today's most successful new businesses have this ability and do it remarkably well. They adapt to new markets, non-traditional techniques, they break from the norm, invoke new business mantras to meet new needs. Think of Newsweek dropping paper print and offering only digital copies of their media. The development of cloud service industries that have eliminated tangible store houses, rooms, and entire departments staffed by people saving millions for businesses is another great example. Amazon is a juggernaut in this sense. Also think of social media enterprises and the promise they offer, mobile apps and the ease of interaction with consumers now available. New businesses should move and flow fluidly, increasing the chance of start-up survival. Ebb and flow is necessary in todays world. Adopt new technologies, develop fresh ideas in new markets/industries, research what has been done, and invest on what has not.
If new businesses are married to traditional business styles, plans, marketing, and advertising, they will be devoured by quicker moving, adaptable, and malleable businesses. Traditional business plans and styles will become the likes of Ancient Rome, Greece, or the Inca. Unable to adapt or shift to a new world rising around them, they crumbled to the ground as the rest of the ranks swelled, gradually drowning these once great empires into memories. Change is inevitable, and good for business if you can survive it.
Monday, July 1, 2013
Local is the new Black
Look around at all forms of media today. Listen closely to radio, TV, and online ads. There is a lot of noise and buzz. If you tune out the junk and jargon, there is one theme that runs like an undercurrent through all of these medias. LOCAL IS IN. Whether you are watching conglomerates like a McDonalds or Wal-Mart ad where they are talking about the community, family, and the freshest ingredients, or a radio blip from a local farmer talking about the weekend farmers' market downtown, their theme is the same. It is targeted on ultra personal service with a nod to aiding the community on the part of the consumer. Personal responsibility and servitude is a hot topic now in schools, scouts, and youth programs. I taught middle and high school for eight years prior to moving back into the business world. These themes were essential in curriculums across the subjects. As a younger population ages into adulthood, successful companies have begun to tap into this type of marketing. This idea of personal servitude is established in small communities as a support structure for "people" and "businesses" you know like family and it has become rapidly rewarding for some major companies. Companies like Nantucket Nectars, Polar Seltzer, Dole fruits, Florida's Natural Juice Company, etc, have built major national corporate empires based on local markets. Hot new companies like Tom's shoes comes to mind as well. With every pair of Tom's purchased, a pair of shoes is shipped to a child in a third world country. My point is this. Local is in and local is very hot right now. If a company can market a good or service in a small locale successfully, you are on the right path. If that company also reinvests some of that revenue into the community that helped it grow, you will forever have a dedicated and thankful army behind you. Nike in Oregon, Miller brewing company in Milwaukee, Detroit's big three. Small companies looking for a big break while exercising conscientiousness should follow through on research for these growing hot spots. Places like San Francisco, Portland, ME, Portsmouth, NH, and Charleston, SC. These hot spots have large populations of young middle and upper-middle class consumers and entrepreneurs. The bottom line is that a healthy community can nurture a business into the growth and expansion phase if they themselves feel like they are being taken care of. Word of mouth is invaluable. Trust is quality number one for businesses when it comes to consumers. Start by giving first and then watch the revenues roll in.
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