Are You Paying Attention to the Signs?

This article is an introduction to a new blog series around “Globalization: The Leadership Challenge Ahead” the topic of my presentation at the Colleyville Area Chamber of Commerce luncheon on January 6, 2011 to kick-off the new year.

To put things into the proper context, globalization is fast becoming a business imperative for survival and growth, whether you recognize it or not. This is true for both solo entrepreneurs and small local businesses, as well as large multi-national corporations.

Are you paying attention to the signs? Continue reading…

Before You Say ‘Good-Bye’ to 2010 …

Yes it’s true, another year is almost over. We are now into single digits and counting. And for some business owners, the end of the year can’t come fast enough.

But hold on just a minute!

Before you say good-bye to 2010 here’s a few “To Do” list items you should consider to help get the New Year off to a fresh start …

Continue reading…

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…

New 4Ps of Marketing: Part 2 of 4

Part 2 of the new 4Ps of Marketing focuses on Promotion, the only carry-over from the original 4Ps of Marketing, but with a twist. Promotion in today’s marketing emphasizes education and information much more to distinguish your brand and differentiate your product or service from competitive offers.

 

As you have experienced first hand, there numerous ways to advertise and promote your product or service depending on the media you select. Marketing companies, for example, rely heavily on Internet advertisement, special events, endorsements, and newspapers to advertise and promote their products and services.

The key question for any small business is where and how to cost effectively get across your marketing messages to your target market? For your small business, will you reach your target audience by TV, or radio, or on billboards? What about direct marketing, flyers, door hangers, or on the Internet? Those are a few of the more common advertising and media choices to consider to help you get the word out. 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…

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…

Where Is Your Business Headed?

Depending on whose statistics you believe, 50-75% of all new businesses fail in the first 2 to 3 years. So, if your business is still in its infancy, and your results are lagging, then you should be concerned and prepared to take immediate action to turn things around.

If you look closely at root cause, there are three fundamental reasons for most of these new business failures: 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…

Make Marketing Your Business a Top Priority

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…