2016 Budget ROI – Are you leaving out the most critical investment? Warren Buffet’s buying criteria for stock and/or companies has always been that they have “strong competitive advantage” and “a solid management team”, yet few mid-market companies have any disciplined process in place to ensure they have and maintain leading differentiation. In the last…
Marketing guru, Jay Conrad Levinson once said, “I believe companies should focus solely on competitive advantage and nothing else, for it is the wisest investment a company can make.” I have come to not only believe him but be able to prove his point. This is truly a lost discipline in most businesses today. …
The N.Y. Post recently recounted the woes of Broadway bombs and the reason for their business bruising. Not unlike every business, they need to keep costs under control, know who their target audience is beyond a doubt, and market in the right medium (venue). A stunning fact: 80% of Broadway shows end up with red…
A good metaphor for your business is to think of your salespeople as race car drivers. They know how to drive, take the turns, and avoid crashes (you hope). Yet, every winning driver needs a stellar pit crew. It’s surprising how shortsighted managers forget this fact and wind up handicapping their sales people. You…
Have you lost your “Cadillac” legacy? Recently, Chuck Stevens, CFO of GM was interviewed by the Wall Street Journal. He lamented the lost luxury of Cadillac as “the luxury” vehicle. He declared that at one point it “was the definition of the luxury in the world.” However, he confessed that they “underinvested in the brand…
How Important is Trust as a Buying Factor? It’s critical – especially if your product/service commands a price premium. Companies aren’t likely to pay for anything if they don’t trust the seller. We are all familiar with the adage “trust isn’t given, it’s earned.” So, how can your company quickly prove your trustworthiness? You can…
Which Prevails in Your Company? What kind of surprises has your company had when you lost a prospect because you didn’t know what was most important to them, and you missed talking about it? This can be avoided with a disciplined approach to gaining and/or acting on the customer perspective. How organizations gather customer input,…
Make sure your company’s business planning and investments reflect your customer’s most desired deliverables. Don’t be overly focused on new product features or things you think are important if your customers don’t value those same things. We have seen too many companies offer innovations “because they could” when the customer didn’t value them at all. …
7 Steps to Avoid “Head in the Sand” Syndrome Meaning: Refuse to confront or acknowledge a problem(from the Phrasefinder website): Origin: “… The notion is that the supposedly dumb ostrich believes that if it can’t see its attacker then the attacker can’t see it. Competitive Disadvantages: How hard is your competition attacking you? Do you…
Nothing grabs the attention of prospective customers quicker than showing them how much money, time and effort they can save by doing business with you. But, it’s up to you to quantify those savings. Make a list of your actions/products/services that make your customers’ job easier and more profitable. Perhaps you provide free employee training….
