The holiday season is a great time for both reflection and renewal, and a perfect time to work on your “lists” of things to accomplish in the new calendar year, while enjoying quality time with family and friends. So, let’s get started on your lists.
Here are my suggested Top 5 DO and Top 5 DON’T lists that I hope will serve as a guide to help you put together your New Year’s resolutions and 2010 goals. Continue reading…
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…
When I think of the challenges most companies face in aligning their organizational goals with the vision for the company, I’m reminded of this quote by Isaac Asimov:
“Life is pleasant. Death is peaceful. It’s the transition that’s troublesome.” 
Our mastermind group has been focused on The Visioning Process for the past month or so, and the members have completed weekly exercises to help them re-define the Vision Statement and Mission Statement for their respective companies. As the group has come to experience, it’s hard work to go through the process when taking into account the past, present and future in order to find a better pathway to success.
Do your goals align with your vision? Continue reading…
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…
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…
Globalization, mergers, acquisitions, downsizing, bankruptcies, and the pandemic have collectively turned our economy and traditional business models upside down. However, despite the churn, despite all of the complexities and changes that we have seen to our business ecosystem, there still exists one simple, basic business truth.
“Nothing happens until somebody sells something”.
The sales organization is the most important resource for any business, and your sales people are the life-line to the customer. Building a high-performing sales organization is absolutely crucial for any company that wants to achieve sustainable business growth and profits. Continue reading…
Where does improving the results from your advertising, sales and marketing rank on your company’s “bucket list”? If it is not one of your top priorities for 2021 and beyond, then you are putting the business at risk!
The first words I often hear from business owners these days are “I don’t have any money to invest in marketing the business right now”. And my standard response has become … “Well, should we start talking about an exit strategy then?” The bottom-line is this, if you are not investing in advertising, sales and marketing to grow your business, the business will not be successful.
If you are one of those business owners who is peering out the window hoping Jack will come sliding down the bean stalk with those magic beans to turn everything around for you, well guess what … it’s over. Just turn out the lights, lock the door and put the For Sale sign in the window. Because Jack is not coming!
Or, you could try another approach, and chart a new direction for the business that could lead to future success and profits. Continue reading…
In “Become a Leader in Your Market Niche – Part 1”, I covered some of the basics of how to get started in positioning your company as a leader in your industry. Now it’s time to fill in the blanks. At this point, you have completed a competitive analysis, a customer assessment, compiled your list of JVs and partners, and received expert advice on how to integrate social media marketing into your overall business plans.
So, what’s next?
Identify your leadership target(s). What do you want to be known for, or a leader in? And what are your recognized strengths that can be leveraged as a competitive advantage? Are you perceived as an innovator or technology leader? Do you offer superior products or services? Is your company recognized for quality or operational excellence – i.e. Six Sigma, ISO 9001? Do customers rank your company’s service ahead of the competition?
Does your company receive high praise from its employees as a great place to work, or from the community at-large for its charitable donations and volunteer work? Select your leadership target(s) carefully, and make sure they are in alignment with how the market perceives your business today. Continue reading…
“If you’re not the lead dog on the sled, the scenery never changes.”
The same thing is true in business, isn’t it? Unfortunately, there can only be one market share leader in any given business segment, but there are other ways to become a leader in your market niche. So, where do you start if you’re not a leader today?
Know the competition. Learn all you can about their products and services, who they are selling to, and how they price, advertise, promote and market their offers. Michael Porter, a Harvard Business School professor and the author of Competitive Advantage, stated that “A firm differentiates itself from its competitors if it can be unique at something that is valuable to buyers.”
Once you have completed a thorough competitive analysis you can then identify the key areas of differentiation, and begin to communicate your competitive advantages to the outside world in a way that is compelling and entices prospects to buy from you.
Know your customers. Why are your customers buying from you, and what do they like and dislike about your business? Continue reading…