Competition Is Not a Bloodsport

Unlike the early days of the industrial revolution, competition is not a bloodsport in the rapidly evolving, global marketplace of today. Instead, coopetition and collaboration have become the watchwords for this new era of global expansion and commerce.

When AT&T first entered the computer industry in the mid-1980s, it was their clear intent to dominate an industry controlled by IBM, Digital Equipment Corporation (DEC), Unisys, Wang, Data General and others. Although AT&T had been the defacto market leader in telecommunications since its inception, they soon learned that different rules of engagement applied in the computer business.

Fencing Sport

In order to survive and thrive as a new entry into the computer industry, AT&T had to learn to “plug and play” with everyone, including its direct competitors. To meet their over-arching business goals it was no longer about crushing the competition, but more about developing collaborative solutions that addressed the needs of the marketplace, by working together.

You don’t become a market leader in today’s fast-paced global economy by attempting to lord over the competition or your customers. Continue reading…

Relaunch of the Business Leaders Forum℠

Are You Passionate About Spending More Time Working ON Your Business And Learning Strategies To Help You Achieve The Results To Move Beyond Your Vision?

Growing a business in today’s challenging economic climate can be a daunting task for any business leader. Are you struggling to find the right formula for success to take your business to the next level and beyond? Do you need expert advice to help you …

  1. Develop a “game plan” to improve your sales and profits outlook, launch new products or services, and/or marketing initiatives?
  2. Change your business direction, enter new geographic markets or develop new sales channels?
  3. Get a new business venture started and develop the blueprint that will lead to future prosperity and growth?
  4. Develop new leadership skills and competencies, and discover YOUR personal plan for success?

The Business Leaders Forum℠ mastermind program can help you address these critical business challenges, and achieve the results to move beyond your vision in a balanced way!

I know what you’re thinking … here we go again with yet another hollow sales pitch that makes wild claims but delivers little to no value in return. Well, not this time! The Business Leaders Forum℠ is a proven strategic mastermind program first launched in September, 2009 that has helped numerous entrepreneurs, small business owners and business leaders over the past several years dramatically improve business performance, while helping them achieve their personal and professional goals.

NOW, we have incorporated the very best elements of this highly regarded mastermind program into a new, advanced business leaders’ series. Continue reading…

Prospecting: Like Hunting for Werewolves

Prospecting can sometimes feel like hunting for werewolves, particularly if there is no full moon. And what better time to talk about werewolves than at Halloween, right?

Yes, prospecting can be a scary, time consuming and frustrating process. There are lots of ghouls, goblins and things that go bump in the night out there that can derail your efforts to secure new business and achieve your revenue goals. If you don’t have a solid game plan to reach your intended targets, you can spend a lot of time, energy and resources chasing your tail, with little or no return on investment (ROI).

Werewolf Marketing

So, what is the best way to maximize the return on your prospecting investment, and avoid getting caught in the jaws of the prospecting beast? Continue reading…

Customer Experience: It’s a Journey

The customer experience truly is a journey. If your goal is to build customer relationships for life, then there are some logical steps to take to move those relationships forward in a positive way.

In the previous two articles we addressed ways to dramatically improve financial performance without major investments, and the importance of retaining profitable customers for life. Now let’s discuss how to establish those lifetime customer relationships.

Customer Experience

The life-cycle of any great business relationship begins with the initial contact and progresses forward from that point. However, the experience doesn’t have to be overly complex. At the end of the day we all want the same thing when it comes to the customer experience. Each of us wants to feel important.

How do we enrich the customer experience, and begin to establish those lifetime business relationships?

Continue reading…

It’s Time to “Up the Ante”!

Yes, it is almost that time again. Mid-year is just around the corner and you know what that means. The halfway point of the 2nd quarter is generally when muscles begin to tighten (you know which ones I’m talking about) for many business owners as they reflect on their year-to-date financial performance.

BIG QUESTION: How are you going to overcome the current budget shortfall with only 2.5 quarters remaining in the calendar year?

Time to Up the AnteIf you’re behind in your financial projections, it’s time to “up the ante”! No, I’m not suggesting that you just open up the check book and toss money at the problem. In fact, here are some recommended ways to dramatically increase revenues and profits with only minimal investments.

There are three basic ways to grow a business – increase prices, sell more to existing customers and sell to new customers. The primary goal for any business owner should be to get more customers to buy more, and more often. So, start with the basics and go from there to determine what actions are necessary to improve results. Continue reading…

Competitive Advantage: A Fleeting Fancy

Competitive advantage is the favorable position an organization seeks in order to be more profitable than its competitors. It involves communicating a greater perceived value to a selected market(s) than the competition currently provides.

In effect, competitive advantage occurs when a company acquires or develops an attribute or attributes that allows it to outperform its competitors. Notice the words perceived value and currently have been underscored above to make a point. A competitive advantage can be short-lived because of three critical factors – market perception, innovation and time.

Competitive Advantage

Now, there are a plethora of ways to differentiate your product/service or company from competitors in order to gain a perceived competitive advantage. Some of the more common ways include: Continue reading…

Entrepreneurship: The Path to Prosperity

It is a path well-traveled, but not without peril. Being an entrepreneur is risky business and the odds are stacked against you. You’ve seen the statistics, 50% to 75% of all new business starts fail within the first 3-5 years.

So, why do so many people choose entrepreneurship as the path to prosperity?

The reasons ‘why’ are numerous and whether entrepreneurship was thrust upon you due to a job loss, or born out of a desire for change, we all share a common goal. All of us are seeking a better life and to build something special that we can take pride in.

Prosperity

Although the path to prosperity can’t be assured, here are some things to keep in front of you that will help you reach your destination. Continue reading…

My Birthday Gift to You – Pay It Forward

Well, I have finally put the bow around my surprise birthday gift to you. Last week was great fun. We traveled to Saint Louis for some much needed R&R to celebrate my big day with family and friends, and to attend Laura’s (my wife) high school reunion.

Now this week, we’ve planned a family outing with our adult children for the second leg of the birthday activities. I know, I know. That’s not why you are here. You want to know what your surprise birthday gift is, don’t you? Well, I can tell you this – it’s something out of the ordinary. But before I tell you any more, you must agree to pay it forward. Okay?

So, what exactly is my surprise birthday gift to you? Continue reading…

Marketing Secrets for the New Economy – Part 2

In Marketing Secrets for the New Economy – Part 2 we will explore why globalization has become a key strategic imperative for sustainable business growth and survival in the new economy.

Yeah, yeah, I know what you’re thinking. There he goes again, beating that globalization drum. Doesn’t he understand that I own a small local business and have no plans to expand globally?

Yes, I get it … but that is today’s reality. We are talking about the future opportunities for growth in the new global economy. Your opinion may change after you have read Part 2 of the article and had time to consider the following chart in more detail.

Global Wealth Distribution Chart

Let us start the globalization discussion by acknowledging the fact that there is no such thing as a local business in today’s rapidly changing economy. Millions of “eyeballs” around the world can gain access to your business from your web site, social media, email lists and other sources, and vice versa. As such, our world has become interconnected, interdependent and open. Continue reading…

Marketing Secrets for the New Economy – Part 1

Marketing Secrets for the New Economy – Part 1 overviews the opportunities we have as entrepreneurs and business owners to dramatically increase revenues and profits in the ‘new economy’. Part 2 will address the importance of globalizing your business for sustainable long-term growth.

We have all heard many times over that most millionaires have a total of seven income sources. In the first part of the article, you will see examples of how you too can systematically create multiple income streams for a business around your greatest asset – YOU.

The image below reflects what these multiple income sources might include for a typical emerging business. I refer to this chart as the “Circle of Life” because it also provides an evolutionary path for scaling a growth business through the various life-cycle stages.

YOU

Now let’s explore each of these potential revenue streams in a little more detail, so you have a better idea of how applicable they may be for your particular situation. Continue reading…