The 6 Fundamental Concepts Behind Every Successful Business

22 08 2006

1. Supply and Demand. The fundamental idea behind business and a market economy. Want to determine where to sell or buy, or predict if prices will be going up or down? Understand the concept of supply and demand.

2. Cause and Effect. Physics applied to the business environment. What you do will affect your competitor and the market and vice versa.

3. People like to feel important and special. Learn this and you’ve discovered one of the fundamental qualities of a great salesperson or marketer.

4. Simple clear communication, on-time. Don’t make it technical, keep it easy to understand. Answer all questions when asked, and never forget to call back and follow-up.

5. Get the work done, on time, and with the highest degree of quality possible.

6. Ask lots of questions and get all the answers.





International business traveller – ambassador, explorer, map-maker

21 08 2006

The critical roles played by international business travellers.

International business travellers play an incredibly important role as ambassadors, explorers and “map-makers” inside their organizations and with their overseas contacts.

Ambassadors, Explorers, and “Map-Makers”

Ambassador of your country and culture. During your trip your actions and reactions are being watched by others. They are trying to confirm, deny or create stereotypes of your country. Everything including your inter-personal skills, business negotiation skills and manners, the way you dress and eat, your choice of hotels, table manners, social skills, and the ability to make small-talk and conversation will be watched, examined and commented upon after you leave. Keep this idea clear at all time during your trip, it is important.

Ambassador of your company. Prepare and bring all materials required for the negotiations and business interactions. Project an aura of professionalism, a willingness to learn and share, and honesty. Create relationships with a long-term vision. You may be promoted or leave the organization some day, but your international contacts will continue to do business with your company.

Ambassador of you. International business is all about relationships, and your behaviour and attitudes are critically important as the liaison and trusted representative. Make promises you can keep, follow-through on the projects and projects. Project honesty and a concern for doing business and maintaining relationships. Your actions should focus on creating a climate of trust and open communication. Don’t try to be someone you are not.

Explorer. The international business traveller, technicians, and sales and business development executives have the added responsibility of verifying existing information, establishing new contacts that will be beneficial in the future, and discovering new ideas and opportunities. It requires an inquisitive character, a bit of courage and a spirit of adventure.

Map-Maker. Often neglected by organizations is the cultural, political and personal information gathered by international business people. This information (or data), should be gathered, filtered and consolidated, and available to the organization after every overseas trip. “Maps” should be made for future consultation and reference. The map-making role requires the separation of the facts from interpretation, personal anecdotes and opinions. This information becomes the foundation for all future strategic and operating decisions.

Related Links

7 Tips for International Business

16 Essential Questions – International Business Traveller’s Quiz

How to do Business in Mexico, Parts 1 – 28

International Business Trip Planning, Part 6





Intellectual wealth, sharing ideas and knowledge

17 08 2006

There is a quote attributed to Carlos Slim, the richest man in Mexico, about wealth.

“Economic wealth is like an orchard, it must be protected and cultivated carefully so it can grow and expand. If you leave it unprotected, or try to divide it among all the people it will soon be destroyed and cease to exist.”

That might be true for economic wealth, but what about intellectual wealth, created by ideas and knowledge?

Ideas are valuable and important. They should spread and be disseminated to as many people as possible. Once these ideas are processed, filtered and modified they provide us, and society with richness.

Intellectual wealth (which benefits us all) can only increase if we share our ideas and knowledge.

Remember this the next time you’re in a meeting and have an idea but are afraid to mention it

Remember this when a new employee begins work in your company.

Remember this when speaking with children and young people.

Remember this when talking with customers or creating marketing campaigns.





Reached our limits or just bored?

15 08 2006

Who or what is or will be the next NASA?

What organization today represents the maximum in scientific knowledge and cutting edge technology and goals?

Who is shooting for impossible goals, capturing our imagination, defining the limits of human achievement?

The companies are out there, we may even be working for them.  Why don’t we know about them?

Are the now too many of them, and our attention is distracted?

Or is it that we don’t care anymore?





Build your organization, don’t destroy it

14 08 2006

Pragmatic business people know that strategies must be reviewed before, during and after implementation. Difficult questions must be asked and answered throughout the organization. Results analyzed and reviewed in order to identify flaws and errors.

Many times this exercise can push us into seeking and identifying problems instead of solutions. Too much time spent on what can go wrong and not enough focus on what can be created. Gridlock sets in, no solution is good enough, there is always a flaw.

All to often we find ourselves criticizing the work of others and the efforts that did not succeed as expected. We spend time taking things apart to find out what went wrong, and seeking to identify who was responsible for the “failure”. Our days are spent destroying the ideas of others.

Why not focus an equal amount of time on the positive aspects?

What did or will work, and why?

Creation is much more difficult than destruction. Support the creation of ideas and solutions in your organization, make your first analysis focus on the successful or positive aspects.

Ask yourself, “what am I creating today”.





International business travel, the end of an era?

11 08 2006

Once again the airline industry is about to have their security guidelines changed in order to accomodate new perceived threats by terrorists. The arrest of 24+ people in London involved in plotting terror attacks aboard airplanes is being heralded in the press and blog world as the end of business travel, the end of an era.

It’s true that business travellers will be the most affected group if new security regulations are put in place to limit carry-on luggage, liquids and electronic equipment. International business travellers will surely suffer most, 8 to 14 hour flights beg for a carry on bag crammed with items that may now be eliminated by new regulations.

The thought of making the trip from LA to Hong Kong, without my water bottle, my contact lens solution, saline spray, Ipod and reading material would make me seek an alternative. Perhaps I would pass the opportunity to meet face to face, and try to do the business via telephone, VOIP, or fax, accepting that fact that the outcome wouldn’t be the same. How many others would do the same?

I believe face to face meetings are an essential part of doing business, and more so for international relationships. But there comes a time when the trip itself is so painful and uncomfortable that we do seek alternatives that are easier and more pleasant, or we charge more in order to suffer the inconvenience.

Two thoughts come to mind:

1. How will global business be affected? How many of us will seek an supplier or customer that is closer to home? How will business change if international travel is severely affected? Will business travellers embrace communication technology in order to make things happen as they used to? Will international business travellers request more compensation, raising the cost of doing business?

2. What will the airlines do to adapt and make it safe and comfortable for their business travel customers? Will they provide, contact lens solution, creams, and bottled water for their customers as part of the standard service? How can they turn this gigantic lemon into lemonade?





Sales and marketing terrorism

10 08 2006

The recent media coverage of political terrorism throughout the world has me reflecting on terrorism and extreme sales and marketing tactics in the business world.

Every industry has individuals or organizations that use drastic, pointless, unethical or dangerous economic tactics in order to increase income or market share in the short term. This use of drastic and irresponsible actions can be called sales and marketing terrorism.

The goal of sales and marketing terrorism is to create immediate change, instill panic and chaos, or further the goals of one group who cannot or are not willing to work with the current system of rules, regulations and norms.

Many times the reaction to these isolated incidents will severely impact the industry, market or specific businesses. Reactions can result in increased government legislation, more government or industry intervention, increased costs of doing business, loss of revenue and reduced customer confidence in the organization or industry.

Some examples of “sales and marketing terrorism”:

A competitor who initiates a campaign of extreme discounts or low prices (dumping) in order to eliminate a competitor or increase market share.

A marketing campaign that uses lies and innuendo to reduce the reputation of a competitor or industry segment.

Products of extremely poor quality (below expected consumer beliefs or expectations) substituted for products known for their quality.

Don’t confuse sales and marketing terrorism with innovative ideas and paradigm shifts in how to do business. The difference is that a sales and marketing terrorist has no plan other than disruption.

Sales and marketing terrorism is a short term strategy or single event that has no regard for long term collateral consequences. They believe their actions will be justified because of short term increases in profit or market share. Rarely do they succeed, but often create chaos and disorder in the marketplace that have an impact on the industry and consumers that can last for a long time.





The “Lightning and Thunder ” sales and marketing strategy

7 08 2006

Thunder and lightning are impressive natural phenomenon that have the power to frighten, exhilarate, and inspire awe. We’ve seen severe lightning and thunderstorms hundreds of times, and yet can be continually surprised or shocked by the power and ferocity of the thunder and lightning.

Lightning is swift, if you blink you might miss it. It is always an unusual and unique form that appears in the sky. It is dazzling, it can light up the entire sky for an instant. We cannot predict where it will strike or what type of damage it may cause. It’s wild and uncontrollable. Unforgettable because it is unique, elusive and enormous.

Thunder always follows the lightning. You can’t miss it, whether it’s a sudden roaring clap or a booming rolling bass note. Thunder is often impressive, and one relates the sound of thunder to the power of the lightning bolt that precedes it. In fact thunder is all about power. It’s the announcement that lightning has passed through, and the thunder’s volume and duration represent an event that has passed away. People rarely forget a huge thunderclap.

Are you giving your customers thunder and lightning with your products, service, sales and marketing?

Do your customers see a brilliant “flash” from your organization, do they hear and feel the power of the thunder after the event?

Are you offering products or services that dazzle and amaze, that light up the customers sky for a moment?

Do they see the lightning and hear the thunder from your efforts?

If your organization is only creating cloudy skies or drizzle for your clients, it’s time to change and create something to make them sit up and take notice. Make some lightning and thunder.





First jobs and “front line” workers – are we willing to accept mediocrity?

27 07 2006

Everyone starts out with a job at or near the “bottom rung” of the career ladder; initial positions are often low paying, low level of decision-making required, repetitive and/or part-time positions.

These first jobs are often “front line” jobs and require the following skills and abilities in order to do the job well:

Retail – Discipline and punctuality, attention to detail, active listening, power of persuasion, work under pressure, time-management, knowledge of products, knowledge of the corporate culture, problem solving, enthusiasm.

Restaurant, Food and Beverage – Discipline and punctuality, attention to detail, active listening, work under pressure, knowledge of products, knowledge of the corporate culture, communication skills, and enthusiasm.

Manufacturing, Assembly Line – Discipline and punctuality, consistency, attention to quality, communication skills.

Services – Discipline and punctuality, consistency, communication skills, power of persuasion, knowledge of products, knowledge of the corporate culture, problem solving abilities, enthusiasm.

It appears that the skills and abilities required for these positions are important and sought after for ANY position in the company no matter the title or salary level.

There is a massive difference in the quality of your experience when you interact with a superior retail employee, a motivated trained restaurant worker, or diligent member of a manufacturing company.  We all know this, so why are there more bad or neutral experiences as compared to the good or great ones?

Why doesn’t your organization spend more time on training, motivating and compensating these critical “front line” employees?  They are critical to the company’s image, sales and quality and eventual success or failure in the marketplace.

The argument used by many employers is that it doesn’t pay to train this level of employee.   Upper management is content and satisfied with paying low salaries, avoiding training costs, and live with high employee turnover…. and by logical association are willing to accept mediocrity and sub-standard performance in their organizations.

Perhaps the problem is not with the employer, but lies with the educational system.  Are we teaching and reinforcing the skills and abilities required for life and career success?  What is the role of our schools, to “baby-sit” for 12 years or prepare the minds and develop the skills required for success in the future?

Is it all about money? 

Are consumers and employers willing to accept mediocrity and poor service as a trade off for low costs?  

Is this as good as we want it?

Related 

First impressions, what can you do to change yours? 

Leadership is not about watching the competition 





13 Tactics Guaranteed to Kill any Project

26 07 2006

How many of these tactics can you identify and how many are at work right now in your organization?

13 tactics guaranteed to kill any project

1. Assemble and invite a huge group of people to participate, most of whom have no stake in the outcome.

2. Do not assign or elect a leader, or better yet, assign leadership to several members.

3. Never make the goals and objectives of the project clear. Leave them as vague as possible.

4. Never assign responsibilities to specific members and never set firm dates for the completion of tasks.

5. Stifle and block all new and alternative ideas, never allow questioning of procedures or goals, eliminate all creativity and any dissension.

6. Plan lots of long, unplanned meetings without an agenda, where nothing is achieved, goals are not reviewed, and no new compromises are agree upon. Especially good are meetings very late in the day, on Fridays.

7. When asked for information and interaction with other members, take a long time to answer and do not give them what they are asking for. Never respond to emails from other members.

8. Never participate during a meeting, but outside the room complain to everyone that the project is doomed and that everything is wrong.

9. Allow meetings to be interrupted by phone calls and visitors, let everyone answer emails and do work on their laptops during the event.

10. Make sure there are no resources assigned to the project or members, this includes time and money.

11. Give all the decision-making power to one individual, and make sure they never make a decision. Good lines to use to delay decision-making include “this is an important decision, I think it should be reviewed and studied further”, “we don’t have all the facts yet”, “I’ll take it under advisement”. This person should also travel often and be difficult to contact.

12. Big decisions that affect the project should be shared with only a few of the participants.

13. Always blame other members for anything that might be wrong. Attack aggressively, loudly and in public if possible.

Related

Effective Business Meetings

Create a debate – find out who really wants the project to work

Step by step beginner’s guide to project management





Who cleans up the problems generated by upper management at your company?

25 07 2006

I’ve often seen hard-working successful salesmen and purchasing managers devastated and years of relationship  development undermined when upper management changes a deal, strategy or situation without consulting or advising those directly involved. 

The success of salespeople and purchasing managers depends upon trust.  Trust between your company’s representative and the unique individual from the other company.  Trust based upon past performance and promises kept.  Trust developed through quality products and services.  Trust developed by creating a dialogue, listening and exchanging information in order to develop mutually beneficial solutions.  Trust takes time, patience, and a series of negotiations and transactions over time.   Trust that your company is supporting, and will continue to support sales and purchasing and existing relationships.

How many times have you seen executive corporate decisions provoke severe disturbances in the level of trust developed by sales and purchasing departments with their clients and suppliers?

Why don’t upper management executives value and protect these relationships? 

I think it is in large part due to the fact that most executives don’t have to “clean up” their own mess.  Executive management has no individual responsibility for their decisions that affect trust in other parts of the company.  They also expect customers and suppliers to accept that conditions can and will change at any moment, and in effect, are reducing the future effectiveness of their own sales and purchasing departments.  They rely on other departments to “clean up”, to explain, to renegotiate and to make the new policies work.  It’s considered part of the perks of executive management, to make decisions, but let others implement them.

Are there policies and procedures in place at your organization to review the effect a strategic or policy decision will have on trust and current relationships with suppliers and customers? 

Who is capable of “making a mess” at your organization? 

Who is responsible for “cleaning it up”?

Do you think that’s the way it should be?

 

Related:

Corporate Leadership and Managers still aren’t listening

Who do YOU trust?





When leadership fails – an example – the Mexican shoe manufacturing industry

24 07 2006

It’s quite interesting to watch certain businesses and industries succeed and fail, and try to identify the factors that lead to these very different outcomes.

For example in Leon, Guanajuato, the shoe-making capital of Mexico, the industry is under severe pressure from imported product, and lower costs from China, Vietnam, Brazil, and other countries.

It’s quite clear to everyone in the industry that there are several solutions to the problem.

  1. Ask the government to create trade barriers and import tariffs. This will only support the inefficiencies in the national industry, postponing the inevitable.
  2. Invest in design and create a brand. Shoes are purchased for two reasons, fashion and protecting your feet. The fashion market has much higher profit margins, but requires constant investment in research and development and marketing.
  3. Invest in technology. If your product is focused on low prices in the market, you must have low costs, and lower costs than your competitors. This might be achieved with new technologies.
  4. Create alliances within the industry. If China production costs are cheaper, but it takes 60 days for the product to reach the US, doesn’t it make perfect sense to create an alliance where the initial production comes from Mexico (5 days to market), followed by the mass production from China?
  5. Purchase the shoes from the overseas competition and close your production facilities.
  6. Create new markets, export to new markets.

Those are the choices, and what do you think is happening?

The majority of companies are pointing out the danger and requesting government intervention, but not implementing any other strategies to avoid the “doomsday” scenario.

The few companies (industry leaders) that have invested in branding, design, technology and purchasing from competitors are thriving, earning money and making profits.

Why is avoiding the obvious or inevitable, such common behaviour in most organizations and groups?

I believe it has to do with the failure of the leaders to move out of the Thinking-Identifying stage and into the Planning and Implementation stages.

The cycle of business leadership and management consists of:

  • Thinking-Identifying. Thinking and identifying important internal and external factors and understanding how they interact.
  • Planning. Using the data and information to formulate a plan and strategy
  • Implementing the strategy. Putting the resources and motivation behind the plan and “making it work”.
  • Reaction-Modification. Reacting and modifying the plan as the conditions change.

Many leaders are uncomfortable or unable to identify the major factors that are and will affect their companies. They are unable to create strategies and delay important and critical decisions because they lack data, or have too much of it, or don’t know how to properly analyze it and find conclusions. Without a strategy there is obviously no implementation, and the organization begins to react to situations created by others (crisis management).

This inability to read the market, identify market forces, create strategies and adapt to changing conditions will eliminate those organizations from the market. Creating strategy is not easy, and creating successful strategies is even more difficult. It requires excellent leadership and management decisions.

What are the known problems in your organization and industry?

What strategies are waiting to be created and implemented in order to prepare your business for the future?

Why isn’t it happening now?





Leadership is NOT about watching the competition

21 07 2006

Who is the leader in your industry and why? 

Is their leadership position related to: cost structure and distribution, creativity and innovation (research and development of new ideas and products), image and marketing (selling better), leadership and vision (creating the future and successful strategies)? 

At Slow Leadership, there is an excellent piece entitled “Slow Down and Play to your Strengths” which puts the idea of leadership and monitoring the competition into perspective.  It asks the question, do you have the courage, focus, patience, and thoughtfulness to manage and grow your organization on your terms? 

At first glance it appears very safe to follow, copy and react to the competition.  But what if the competition is watching and reacting to you?   This can only lead to a slow spiral of mediocrity and eventual stagnation and death of the participants. 

  • What are you creating and selling?  Why?
  • What strategies are you evaluating?
  • What risks are you willing to take to reach your objectives?

This concept also can be applied to your role and position at your company.

Who are you watching and copying or reacting too?

What strategies can you embrace or create, to become a leader and innovator inside your department or organization?

Related Links

Slow Leadership (Link)

Business Strategy, has it become a commodity? (Link)





9 steps to better decisions

21 07 2006

Trying to pin the blame for a bad decision on an individual or group is fairly common corporate activity.  We believe that errors are not to be tolerated, and that anyone who commits an error should be identified and punished.  Too often this search limits and inhibits people from speaking up and making good, creative and bold choices in their organizations.  The fear of failure prevents action. 

We have to “blame” the process more and the people less. 

But who doesn’t make bad choices, mistakes, and accidents due to omission or over confidence? 

It’s part of life and learning.  The more I learn about chaos theory, and the butterfly effect, the more difficult it is to identify an individual who can be singled out as the responsible party for a “decision gone wrong”.  The trial and error decision-making process is still prevalent in the natural world, and will continue to be part of the corporate world.

What would happen in your organization if you stop seeking someone to blame, and focus on the decision-making process itself and the evaluation of results, independent of individuals? 

Where there is a failure, first take a look at the following list, answer the questions to determine if the decision-making system was at fault, or if it was an individual failure within the process. 

Run de-briefings and analysis of outcomes, good and bad, and find elements that were responsible.  Let your people know that mistakes can happen, and can be tolerated, but that a systemic process should be used in order to eliminate or reduce errors. 

9 steps to better decisions 

  1. What are our objectives and expected outcomes?
  2. What information should we accumulate in order to make a decision?
  3. What information is not important for this decision?
  4. Who is evaluating and processing the information?
  5. What criteria are being used to evaluate and process the information?
  6. What are the possible scenarios based upon the present information?
  7. What is the most likely scenario or best decision for the company at this time?
  8. Who are the decision-makers for this issue and why?
  9. What elements are critical and essential for success?

Shift your focus from the person to the process itself, what is or was missing?  Why? 

Related Links

More access to information – more mistakes

How to set up a beginner’s “Business Intelligence” system 





Serendipity as part of business development

19 07 2006

There is something missing from most business development project evaluations, serendipity.

Defined by Merriam-Webster dictionary as “the faculty or phenomenon of finding valuable or agreeable things not sought for”.

Seth Godin has outlined why companies fear business development (Link). It’s hard to justify the expense and risk on new ventures and projects. The control aspect asserted by legal and financial people reflects one reality inside the company, but don’t forget the other side reflected by the sales, marketing and business development people.

If it’s a good to great idea, and the cost is low, and the chance of success is moderate to good, and the possibility of adding knowledge to the organization is part of the project, then go ahead and try.

Can your organization consider and discuss “serendipity” as a factor in your next business development meeting?

Related Links

Seth Godin: Careful consideration and analysis





Ideas from the “World’s Best Companies”

19 07 2006

I was reading the April 2006 issue of Business 2.0, entitled “Best Kept Secrets of the World’s Best Companies”. What struck me was that the companies profiled are jumbo, mega-corporations (immediately causing a frown and the question “why aren’t there any small or medium sized companies?”.

I doubt that these are the company’s best kept secrets, but the ideas are interesting if you remember they were designed for and implemented in large organizations (which we seem to associate with success).

The ideas presented were:

  1. Benchmarking – compare everything to the competition
  2. Lending library – have materials available that can provoke creativity
  3. Devil’s advocacy- promote debate
  4. Physically put the boss in the day to day operations
  5. Look for bad news and talk about it
  6. Use external consultants to promote ideas and research
  7. Creative equity arrangements for start-ups, new projects
  8. Everyone is the HR department
  9. Review and question strategy
  10. Peers chose their leaders
  11. Creative economic solution to avoid theft and loss
  12. Executive pay determined by results and collaboration
  13. Prediction markets
  14. Graffiti, promote communication outside “normal” channels
  15. Use greed to motivate, sell and inspire
  16. Maintain work related contact with retirees
  17. Crowdsourcing and open-source advertising
  18. Use employees to watch trends and monitor the market
  19. Hire someone to watch shareholder interests, not the CEO
  20. 3 minute daily morning meeting
  21. Get board members out regularly with customers and front-line workers
  22. Get executives out with customers and product/service users
  23. Pay your people if they save you money
  24. Take the “hard sell” out of your sales force
  25. Become a customer of your own company

First thought: Is it practical or necessary for small and medium sized companies to embrace and implement these ideas and strategies (In a large organization there are large problems, in a small organization there are small ones)?

Second thought: Given the multi-tasking of all employees and executives in small and medium sized organizations, is it realistic to expect results that echo the large corporations if these ideas are implemented on a smaller level? If you believe that a large organization will be populated by specialists and in small organizations generalists are predominant, are the ideas presented applicable to both environments (What’s good for the goose may not be good for the gander)?

Third thought: How much of the success attributed to the ideas and strategies are because employees feel part of a large important project that has purpose (Everyone smiles during the parade)? How much of the positive response is because workers feel that leadership is aware and concerned about them and their problems (I am important, my contribution is important and they know it)?

How many of the 25 ideas are related to communication, strategy, customer feedback, cost savings, knowledge of the industry, knowledge of the customer, agility and flexibility….aren’t all these factors inherent in a small business? In fact, without competence in these areas the small business fails quickly.

Perhaps a great idea, number 26, for big corporations would be to take a look at the core competencies required by successful small business owners, and insure that these specialties and areas of expertise are well represented and disseminated throughout their large organization.

Related Links

Crowdsourcing, a potential resource for your business





Business Strategy, has it become a commodity?

18 07 2006

Here’s something I’ve written about earlier, but worth thinking about often.

Umair Haque has written Laws of the Post-Network Economy: Strategy is a Commodity in the BubbleGeneration blog.

His basic idea is that organizations are all creating and implementing strategy, it no longer provides clear differentiation from other companies as it did in the past. Strategy has become part of a “standard operating procedure”, it is a commodity process found in every business.

The playing field has been levelled.

Strategy is necessary, but no longer the important tool of change and value creation it was 20 years ago.

He suggests that the next value creation “tool” that organizations are and will be using is that of creativity.

“I think it is going to have to do with creativity. In a world where strategy is a commodity, creativity becomes the vital factor from which value flows. When everyone can think strategically about everything, the locus of value creation shifts from out-thinking everyone to out-creating them. The prime mover of value creation becomes putting the ability to create (goods, services, processes – even strategies) at the heart and soul of the firm.” (Link)

I’m a big believer that the best business ideas are those that no one else is currently using (Link). Once your business tools, human resources, sales and marketing and finance departments are all doing it like everyone else, it’s not going to be great, it’s not going to be exciting, it’s not going to create a profitable future.

What could happen to your organization and your industry if creativity is viewed and promoted as the most important business tool you have NOW, to create and prepare for the future?

On the other hand, what if Umair is wrong, and strategy is not a commodity?

What will occur if the future requires that we constantly “out-think” the competition?

Related Links

Strategy Redux – The Execution Economy

There are no new management and leadership ideas





There are no new management and leadership ideas

15 07 2006

Business, management and leadership ideas and trends are as changeable as the weather or women’s fashion.  In fact there are no new ideas, just old ideas in new packages.

Just as hem lines go up and down over time, and ties move from thin to thick, “new” ideas on how to do business re-appear with regularity.
The funny thing is that the “new” business ideas do work.  The ideas really work until everyone is copying them, and putting them to work in their own company…then it’s boring.  Once it becomes standard operating procedure, everyone is operating at the same level.

But lucky for us, there is always a crafty, creative, dissenting voice who says “hey, why not do this?”….and we do.  Old fundamental business ideas in shiny new boxes.

What do I mean by old fundamental business ideas?

  • Pay attention to your objectives, take the time and determine what you really want to achieve.
  • Pay attention to quality in your service, your products and your people
  • Support and seek constant innovation and creativity in your people, products and services
  • Keep your people motivated and demand results
  • Invest and reinvest in the best people, ideas, and technology in your industry
  • Listen to your customers
  • Educate your customers
  • Question how and why you are doing business, all the time
  • Be flexible
  • Don’t be afraid to make mistakes
  • Keep learning

I’m sure there are hundreds more, but the more I see the business fads come and go, the more sure I am that what really works is doing something different from the status quo.

Related Links:

The New Rules, Fortune takes a shot at Jack Welch

Tearing up the Jack Welch playbook

BizInformer 





First impressions, what can you do to change yours?

15 07 2006

First impressions do matter.

Seth Godin writes about his recent experience with a receptionist (Link), and has some observations on how this first contact could be made memorable, interesting and important.

I had two immediate thoughts after reading the piece. The first related to the Japanese custom of placing greeters at the front door of the department store….what message are they providing to customers by this action?
Second thought, what happens when everyone has a greeter, and the experience is no longer “special” but accepted as normal business procedure? You would notice if it was not there, and you would notice if it evolved and changed into something different.

Today everyone has a receptionist, it’s part of the normal business procedure, and as Seth points out, it is considered a necessary but usually low paying, low creativity position.

What could you do to change the receptionist and the first impression of your business into something special, different or unusual for the customer to remember?

Why aren’t you doing it?





16 Essential Questions – International Business Traveller’s Quiz

6 07 2006

16 Essential Questions – International Business Traveller’s Quiz

Every international business traveller should be able to answer these questions about their destination before getting on the plane.

  1. What is the size of the country; population and area?

  2. What are the top 3 or 5 cities, and why?
  3. Who is the President?
  4. What are the main political parties?
  5. What are the official languages?
  6. What is the ethnic makeup of the country?
  7. What is the climate and weather throughout the year?
  8. What are some of the important geographic features (rivers, mountains, lakes)?
  9. What are the major religions?
  10. What countries are neighbors?
  11. What is the currency and exchange rate?
  12. What are the countries biggest industries; national and export?
  13. Who are your competitors, and how long have they been established in the country?
  14. What are 3 significant issues affecting your industry in this country?
  15. What are 3 significant national issues that are in the news in the last 2 weeks?
  16. What national holidays or events will be celebrated during your visit

If you can’t answer every question. Set aside an hour, fire up the Internet, and do your homework.

It may be the most important hour you spend preparing for the trip.

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