New 4Ps of Marketing: Part 4 of 4

Part 4 and the last of the new 4Ps of Marketing is Performance. Ultimately, performance is the most important of the New 4Ps of Marketing. Why? Because all marketing related activities are investments and as such, they need to be measured, tracked and compared to other investments to ensure that they yield the highest rate of return to the business.

 

So, how do you measure and track marketing performance to ensure that you are receiving the anticipated return on your marketing investments? Continue reading…

Run Through the Tape …

“Do you know that in a race all runners run, but only one gets the prize? Run in such a way as to get the prize.” – 1 Corinthians 9:24

This is the time of the year where things really get exciting for most businesses. Whether making a mad dash to close out 2021 strong, or starting work on those 2022 plans, one thing all business owners should have in common – you better be running!

To stay ahead of the pack, you must have a solid game plan and execute to perfection.

Much like a runner, your objective should always be to run through the tape (not to the tape) to achieve your goals and thus improve your odds of success.

Whether you are gearing up for a strong end of year push or setting the table for 2022, here are five things to consider. Continue reading…

Doing Business the R.I.G.H.T. Way

There is only one way to do business, the right way. But, what exactly does that mean for your particular business situation?

Don Hicks, founder of the Hispanic American Business Development Group in Fort Worth, Texas http://bit.ly/10bL07 got me thinking about this topic recently when he posed the question “Would you do business with yourself?” to the group at a networking breakfast. It’s one of those great defining questions that every business owner should take time to reflect upon. Continue reading…

Starting a Mastermind Group – Part 2

Part 1 of this two-part article focused primarily on the pre-launch planning and preparation necessary to develop a successful mastermind program.

Part 2 will provide you with additional tips, suggestions and strategies to consider for both your pre- and post-launch planning endeavors as you and your new mastermind group participants begin to focus on the major elements of the program that will ultimately deliver business value to its membership.

A sincere willingness by all members to provide open, honest and respectful communication is an absolute must to enrich the mastermind experience. An open platform for discussion enables business leaders to engage in an active dialogue and information exchange, without reservations.

As participants become more comfortable with each other, the group will begin to function as a peer-to-peer Executive Board, offering expert knowledge, guidance, inspiration and support to benefit each member’s particular business situation. Continue reading…

Starting a Mastermind Group – Part 1

In his book, Think and Grow Rich, Napoleon Hill described his concept of a mastermind group as, “A friendly alliance with one or more persons who will encourage one another to follow through with both plan and purpose.”

Today, like-minded professionals regularly come together through a plethora of available mastermind programs and related support groups to help each other achieve success, thanks in part to Napoleon Hill’s original idea.

Note: This two-part article is intended to offer you some valuable tips, suggestions and observations for those readers who are planning to start a mastermind group, or seeking to become an active member of a mastermind group in the near future.

Before starting a mastermind group, do your homework. Carefully select the topic(s), and solicit the advice of others who have started similar mastermind programs, so you know what to expect. Attend several mastermind group meetings to assist you in determining the appropriate structure for your group before proceeding.

Continue reading…

10 Basic Tenets of Great Companies

Is your company a “great” company today? What constitutes a great company? Are there established criteria, like the Good Housekeeping Seal, that all great companies must adhere to in order to be deemed great?

Each year Fortune magazine completes the most extensive employer survey in the corporate world and publishes its list of the “100 Best Companies To Work For”. The survey ranks the top companies in a variety of major categories including size, job growth, low turnover, no layoffs, women, diversity, etc. Continue reading…

Serious Business Owner or Playing Office?

Most of us think of ourselves as serious business professionals, committed to the success of our businesses. But are we really? Do our actions truly reflect a serious commitment to success?

Are you a serious business owner or playing office?

A Kauffman Foundation study of 549 successful businesses showed that 93% of the business owners surveyed cited “not putting in the time and effort required” as the #2 most common barrier to entrepreneurial success next to failure to take risk. Are you devoting the time and effort required to grow your business and reach your personal and financial goals?

The following is a simple test that should help provide you with some clarity and answers regarding your focus and level of commitment to building a successful business. Continue reading…

Sales & Marketing Plan Check-up Time

Now that the 2nd half of the year has begun, it is time for some routine maintenance.

Much the same as your car or home, you should also schedule periodic check-ups of your sales and marketing plans to ensure that you are receiving the optimal performance and results.

These check-ups should be done on a monthly, quarterly and annual basis as part of the business planning process. Regularly scheduled plan reviews will enable you to capitalize on emerging business and market trends, and make necessary course corrections to minimize potential shortfalls.

At a minimum, the areas that are listed below should be audited as an integral part of your business plan reviews to determine your company’s sales and marketing effectiveness. Continue reading…

Improve Results in a Recovery-Based Economy

The economic indicators during the past couple of weeks have given us eternal optimist’s a glimmer of hope that the recession has finally run its course, and the worst is now behind us.

Although we should continue to proceed with caution until all signs clearly point to the north, there are some things you can do and should be doing now to improve your business results in the recovery-based economy that is ahead of us. Continue reading…