Archive for May, 2007

Artistic Genius – Leonardo daVinci

Our society is moving toward a view of artistic genius that is both new and old. It is new in the sense that truly incredible tools and technologies are now available for creative work. It is old because our present view of the artist’s place in society has much more in common with the Middle Ages or the Renaissance than with the 19th or early 20th centuries.

To make this clear, and to help you connect with the creative elements in your own character , which you may or may not have recognized in the past , our focus in this session is on a true genius who really exemplified the times in which he lived. Leonardo da Vinci, along with Michelangelo, is generally recognized as the quintessential artist of the Renaissance.

Here at the start of the 21st century, we are getting rid of the idea that a creative person is someone who wears a beret and lives in a garret. The model of the isolated artist will not work anymore. In this sense, Leonardo is probably much more relevant to the circumstance of your life than you might think.

Leonardo was born in the small Italian town of Vinci, in the year 1452. He began life with certain obvious advantages, and some disadvantages. His father was a rather wealthy country gentleman. His mother, however, was a servant girl whom his father had no intention of marrying. In later life, he would describe himself as a “man with no education.”

When he was about 14 years old, Leonardo was sent to Florence to become an apprentice in the studio of a prominent artist. The artist’s name was Andrea del Verrocchio, and he was both a painter and a sculptor. Leonardo learned a lot from this first master. And around 1470, after being with Verrocchio for about four years, Leonardo got a big break. He was assigned to paint an angel in the corner of one of Verrocchio’s major commissioned works. According to legend, when Verrocchio saw the angel he realized it was infinitely better than the rest of the painting. In fact, it was so much better than anything Verrocchio had ever done that he gave up painting forever, right then and there. This legend may or may not be true, but the young artist from the countryside was definitely on his way.

Right now, as the most basic element of modeling artistic genius, I would like you to recognize exactly what artistic genius is. It is simply taking a picture that is in your heart and using some medium to move it into the hearts of other people. It does not matter what that picture is, and — at least initially — it does not matter how technically adept you are with the medium you have chosen.

Leonardo had incredible technical skill. His ability for drawing and sculpture was truly superhuman, and he was extremely adept at the mechanical and engineering tasks demanded by large-scale creative work.

Your artistic genius does not have to be in the fields of drawing of sculpting; it does not even have to be technical. Your skill is in whatever attracts you, whatever moves you to express your creativity, even if it is just another form of personal expression that you do not intend to show anyone else.

From business to BUSINESS! See it and believe.

Here’s a thought – Imagine two years down the track (visualise clearly now) that you have a business that is running itself, and people call you saying how brilliant the staff are, the range of services is to die for and they love the level of service they get! You drop in to the office every now and then and tele commute. Your income is worth the effort you took to build the business.

Now ask yourself,

  • What do the clients look like?
  • How much will they spend with you per year?
  • How many of them are needed to take the business to this level?
  • How do you beat the competition hands down every time with exceptional ease?
  • What sorts of exceptional people have you poached, and recruited (attitudes, personality, looks etc…?)
  • What sort of office or work set up is everyone working in that sets the standard and then some!?
  • How come the systems they use are so elegant?
  • How is it that your business attracts all the right attention and is seen as a ‘darling’ by the media, in fact they chase you for stories!?
  • Why is it that prospects become customers with such ease and then on to clients and raving fans about the business in no time at all?
  • How is it that your business rewards the staff so handsomely they do not want to leave, they in fact are head hunted and refuse to leave.
  • What is it about the way your team market the companies services that they have no challenges recruiting new prospects and influencing them to becomes customers…?
  • What personality, attitudinal and energy changes would you need to alter to ensure all of the above can come to fruition?

What does all of this look like… REALLY, imagine it, visualise it, develop a plan, a five year strategy perhaps based on the above… Then break it into achievable chunks.

Are there other questions you can add to the list to make the picture clearer, stronger, brighter, bolder, better….

Dare to dream, dare to live, dare to strive for the highest, dare to step outside of your comfort zones, dare to be the best, and then better that, dare to set bold goals, dare to be the one that makes powerful differences in the lives of those around you by setting incredible standards.

Don’t just sit there, Grab a pen and some paper create a plan and make the world yours, consider it like a bud about to bloom, and when that ones is finished there is another and another just coming into bloom! and watch as bees come and take the pollen and your flowers become the pick of the crop for the bees…

The business of business can be a tricky road to traverse, but with the right attitude, mindset, skills and ability you too can make it a golden one.

Strategies for Building Your Business

How do you know which strategy will grow your business most effectively in the short and long term? Market penetration, market extension, product development or diversification are the primary strategies for building your business. You can also grow organically (growth in your own business) or by acquisition (of another business). This article summarises what these strategies are, and when you would be most likely to use them.

Market penetration is based on taking the opportunities to sell more of your products or services into your existing market, or penetrating deeper into your market.

Since it costs on average 5-10 times more to source new customers than to work with your existing customers, it makes sense to adopt this strategy if you can.

It will be most applicable if:
- You have a reasonably large base of potential customers in your existing markets
- There is an opportunity for you to sell more of your products/services to your existing customers, and to sell to new customers from the same existing market segment
- You want to sell more of you existing products/services
- Your products/services are still competitive

How to implement this strategy:
- More aggressive promotion and marketing
- More, or more effective, channels to market (whether direct sales or via third party distributors)

An example of this strategy would be Telstra and it’s mobile service. Telstra has penetrated deeply into its existing market (Australia in broad terms), using extensive promotion and advertising, and a continually expanding distribution channel of resellers and its own retail outlets. As a result, it has the largest share of the mobile market.

Market extension is when you identify new markets to sell your existing products and services into, whether they are new geographic markets (interstate, regional, international) or new segments in the same geographic market.

It will be most applicable if:
- You have secured a strong customer base in part of your defined market, and still have other areas or segments that still offer opportunities to you.
- You are reaching saturation in your existing market (you have the dominant share)
- You are able to access new markets through the right distribution channels or through your own presence in those markets
- You have the cashflow to fund the time and cost it takes in breaking into new markets
- You have researched the market thoroughly and understand the potential gain and the risks
- You have the ability to service those new markets well

A simple example of this is when companies open offices or branches interstate, to replicate the success they have had in their own market.

Product development is when you develop new or improved products for your existing markets. Product development may take the form of a new product altogether (for example a new software package), an extension to a product (for example a new feature set/enhancements to the existing software package), or a product add-on (for example, a new software module).

- Products and services are often developed when there is customer demand for them, or when technology results in newer versions being available or created by your competitors, or when you have a great idea and research indicates there would be a market for it.
- Product development requires funding, planning, research, testing, marketing, selling through appropriate channels and more testing.
- If you develop new products or services you must do so objectively, and listen to your customers, take notice of the market research and feedback, and be honest about how competitive your new products will be. Don’t waste time or money launching products or services that won’t sell, or won’t sell enough.
- Product development must be an ongoing process to some extent, as no company can survive on an unchanging product or service, year in and year out.
- Generally it’s fair to say that if you don’t develop and enhance your products, then your competitors will and will overtake you.

An example of somewhat extreme product development is Coca-Cola now selling Lemon Coke, Caffeine-Free Coke, and Vanilla Coke into its existing markets, alongside regular Coke and Diet Coke. This strategy has similarities to the one used back in the ‘80s, when Coca-Cola had Classic Coke, New Coke (when they changed the original formula), Cherry Coke, regular Diet Coke, Caffeine-Free Diet Coke, Tab, Caffeine-Free New Coke and Caffeine-Free Tab. It created a lot of consumer confusion, and eroded the brand power of the original Classic Coke.

A simpler example of product development is the breakfast cereal manufacturers developing breakfast cereal bars, for breakfast ‘on-the-go’.

Diversification is the strategy of developing new products for new markets. This strategy requires a cautious approach as it is based on many unknowns: a new market, an untested product, probably new distribution channels, and probably existing suppliers already competing in the target markets.

Use this strategy if:- you have a large budget for product development and market research
- you can support this strategy (and the time it takes to start generating revenue) with existing cashflow from the business

Acquisition is a strategy used to fast-track business growth by acquiring, rather than building, new business. You may acquire another company for several reasons:
- to acquire their customer base
- to acquire their revenue and profits
- to generate economies of scale (and reduce costs) for the combined entity
- to acquire their products
- to acquire their expertise
- to access new markets
- etc.

The acquiring company retains overall control of the combined business, and may agree to buy all or part of the other business. Future articles will cover some of the key considerations regarding acquisitions.

12 Flat Spots That Can Cause Business Trouble.

As you watch the graph on your business rise as things get moving, you will no doubt be delighted, but then as you measure more things you may notice a few flat spots, or worse still some downhil slides on the graph. Check against this list and make a list of your options, before long you should be able to turn the graph around and make it head skywards again. As a guide the following retail scenario was used.

  1. Closed - Due to a family issue and no sales were made, no one to run the business. This can be a flow on effect from a late opening day an early customer sees the closed sign and spreads the word that they seem to be closed all the time. Interesting perception, not really the truth though. Have a staff member, a temp or casual even to cover for you, if your sign says open at 9:00 then be open.
  2. Marketing – In the case of a start up business it may be that friends caused the initial sales, then once they run out, a flat spot is reached as the lack of marketing (perhaps poor signage in a basic retail scenario). Revealing a hole in the system. Your aim is to find out what it is, and there is no excuse for poor signage, you want people to notice the business not avoid it. The same with all of your marketing materials, people should see your business as the number one choice.
  3. Seasonal factors – Really hot or cold days can prevent people from coming to your store to buy, so there is not much you can do about that, so make sure you keep your business full of customers to make up for the quieter times in those seasons.
  4. Lights not on – People drive or walk by, see no lights on and keep going, they perceive its closed. Some retailers see this as a cost saving measure. It’s not. If business is slowing down there is a good reason for it, do an assessment first and make other changes BEFORE turning off or down the lights.
  5. Are you renovating? – Over time some operators develop “store blindness” where they can not see the deteriorating conditions of the store, dust on displays, things not where they are meant to be and so on. The prospective customer walks away. Remember they see retail outlets of all types during the day, if they have seen brilliant layouts and professionally displayed stock then come to your store and find things in a mess they will vote with their feet.
  6. Bad service or bad attitude? – Over time bad service can damage the businesses reputation, most people do not set out to provide bad service but various factors can cause us to end up providing it. In fig b, people may have initially bought and had good service, but the second flat spot may be due to a staff member with a poor attitude being employed in the second rise on the success indicator, then the customer numbers and sales can flatten out as word spreads.
  7. Personal factors – The business owner might start off working 6+ day per week and be very excited about it, then things start to sour as their family and friends become affected by the loss of contact with the business operator. They lose heart and become despondent, what looked great in the past is now looking like a millstone.
  8. Bad attitudes – Okay for you to run the business 16 hours a day, but employees often don’t think like that and want to work reasonable hours… add to this the possibility that you may not be as great at managing people as you thought in the first place and that can cause a motivated employee yesterday to become disgruntled. The result a bad attitude that has an ongoing effect on your sales. Learn to lead, to coach, to mentor and support.
  9. External factors – The local council decides to do road works outside your business, they hold up the parking and create a mess for a few months. The result, a slump in your success indicator.
  10. No one wants it – Perhaps what you had in the store to begin with had some value at first, and now things have moved on e.g. a computer store would need to be ahead of the game and only stock things that are needed now old technology is just that, OLD.
  11. Lack of innovation – If you want things to be consistently happening to be ahead of the game, you need to figure out how to innovate. Know what the competition is doing, be one or three steps ahead of them, and make sure you use the collective intelligence of your staff to make it applicable. If however you have collective stupidity and not intelligence you might need to work harder at your HR skills than you thought.
  12. Poor sales skills – Its one thing to have a prospect walk in, and another to convert that into a sale. Make sure all staff that come into contact with the prospects have the ability to build the relationship – find out their needs – offer them a solution – close the sale.

Now you know what might be causing the flat spots, its time to turn things around so you can be ahead of the game. Assess your business carefully against each of these points and take action to make it succeed.

Learn to Manage Interruptions

Managers are especially torn between trying to be both accessible and productive. They want to be modern, sensitive bosses who will hear out customer complaints and employee problems — but they also have planning to do, projects to complete, paperwork to handle, goals to meet, and higher-ups to satisfy.

Here are some techniques for striking a balance:

- The telephone, Alec Mackenzie suggests, is one of the biggest time-wasters. He gives several strategies for dealing with interrupting phone calls, such as call screening, voice mail, and the like. However, perhaps the simplest solution is to put a three-minute egg timer on your desk. When the sand runs out, you know to halt diplomatically all but the most critical of calls.

- An open-door policy is fine, but it can destroy your efficiency if taken too far. Roger Dawson, in 13 Secrets of Power Performance, offers numerous ways to lessen drop-in visitors. One, arrange your office so you are not readily visible and thus a target for people passing by with time on their hands. Another, set a block of time — usually early in the workday or near the end — when employees do a lot of socializing, and make that your official “closed-door” period when you can hole up and not feel guilty.

- Go to lunch at an odd hour; say 11 a.m. or 1 p.m. Not only, Dawson believes, will you get a better table and service at the restaurant, you will be working when everyone else is out to lunch, and will therefore minimize distractions. Thus, your productivity will soar.

Dwight Eisenhower – Leadership Genius

One of the interesting things about great leaders is the degree to which they’re tolerant of people who are very different from themselves. Under the most difficult circumstances in the Second World War, Dwight Eisenhower managed to create a coalition including the egomaniacal Viscount Montgomery, the self-effacing Omar Bradley, and the gifted but totally bizarre George F. Patton – and the result was success in the Normandy Invasion.

In fact, Eisenhower’s ability to deal with different kinds of people may have been his greatest asset as a leader. After the war, he made the somewhat unlikely switch from leading a huge army to being the president of Columbia University. The transition wasn’t without a few bumps in the road. At that time, there was a Professor at Columbia named Isidore Rabi, who had worked on the development of the atomic bomb and who subsequently won the Nobel Prize. At a faculty ceremony in honor of the professor’s achievement, Eisenhower made a brief speech. It included a remark about how it was always good to see an employee of the university get recognized. At that point, Professor Rabi interrupted him and said, “Excuse me, sir, but the faculty are not employees of the university. The faculty are the university!” This was a witty and somewhat confrontational remark – and Eisenhower might have taken offense. But he loved it! Rabi became his closest friend on the faculty – and when he became President of a somewhat larger organization than Columbia, he appointed Rabi to a number of influential positions.

As you learn to access leadership genius, you’re bound to find yourself in some difficult conversations. Here’s a technique that cannot only express tolerance, but can also clarify people’s thinking in a very productive way. In my listening programs, I call it the Monk’s Feedback Exercise and it works like this: Person A states a position. Person B restates A’s position, and then states his or her own position. Person A has to restate B’s position before replying to it, and so on. I guarantee this exercise lowers the intensity of emotional conversations and helps each side see the other’s points of view. Use it and I also guarantee it will enhance your credibility as a leadership genius.

So, are you a dream builder?

Businesses help to build a $1 Million dream…

A 22 year old entrepreneur aims to make $1 Million whilst bed bound with a dislocated hip and small businesses are helping out. Richard Stratton came up with the theonebigad.com business web site whilst bed bound with a dislocated hip. He plans to use the money to promote his start up company and to provide one other company with the ultimate advertising budget of $250,000.

Free Business Tips.com.au has decided to come to his aid. I found the entrepreneur while surfing the net for business information. I saw Richard’s plight and thought why not help out and see what was possible?

Richard, who is funding his company himself, by working part time jobs, says he didn’t want to borrow more on top of his university debts.

While in bed with a dislocated hip, he decided to teach himself web design. Richard set out to create a site he had been thinking about for a while and to ultimately generate some money which would pay for his living expenses and help his business venture for which he could do little else due to his dislocation.

Richard explained the concept of theonebigad.com, “advertisers submit a banner for $10. Once 100,000 banner places have been sold one business is selected at random to receive The One Big Ad, the ultimate advertising budget of $250,000.” providing the potential for a television advert on a major network, not to mention all the press attention that would go with it.

To encourage initial sales the first 500 banner entrants will have their banners displayed on a page on theonebigad.com site.

Asked what he will do with the money raised, Richard said, “I hope to make my company as successful as possible, it’s something I have dreamt about for years and I will do anything to make it a reality. Although my dislocated hip seemed like a major setback, maybe thanks to theonebigad.com it will actually end up being a bonus in a somewhat painful disguise!”

Frankly, I don’t expect to make a lot of sales from our ads on Richard’s site, but that’s not the point. The point is he has come up with a good idea, and he has put it out there to have a go. I like that.

And if I can contribute a small amount to help build a dream? Why not?

Networking – How to make profitable relationships in 7 easy steps.

Networking is not just about numbers, it’s about relationships. It’s quality over quantity. It’s not about meeting as many people as you can; it’s about helping as many people as you can.

We network to create mutually beneficial relationships with our peers, clients and potential clients.

So how has it come about that networking has ended up with a slightly tarnished reputation? Why does networking often conjure up images of super keen network marketers or sales people shaking hands and thrusting as many cards as possible into as many hands as possible whilst asking, “How can I help you today?”.

Perhaps it has to do with the fact that too many people have used just that strategy too many times before, and it is what we have come to expect from all the “meet and greet” networking events we are invited to.

So, how do we network more effectively (translate; profitably)? Let’s break it down into seven easy steps.

1. “It’s the vibe man…” Find the right group for you.

Find the right group for you and your business. If you target market are new mothers for example, a nursing mothers group will be more effective for you than the local Chamber of Commerce.

Don’t just limit yourself to organised networking events, what about trade shows or expos, trade association events, and education events.

Think of who your clients are and where they will be. If your target market is real estate agents, consider joining their trade association as a supplier or service provider.

Focus on quality over quantity, getting the right type of prospect is more important than getting in front of lots of prospects.

2. “I can write it down on this serviette, mind the mayonnaise…” Carry cards.

This seems kind of obvious doesn’t it? Believe me, I wish I had a dollar for every time I was at a networking event to find that the person I just spent 10 minutes with doesn’t have a card to give me.

Carry cards with you all the time. Have some in your pocket, in your car, your partner’s car, your office, your gym bag, you get the idea.

My family often kid me because I will always have a card handy, even at family functions. Why wouldn’t you? You never know when the next big job is going to come from.

I am not suggesting you thrust your card under the nose of everyone you meet, far from it. Merely suggesting if you don’t have a card ready when you need it you may miss an opportunity.

3. “Nice guy, bad breath…” Make a good first impression.

First impressions count, and you only get one chance.

Be on time. Late is late, on time is on time.

Press your clothes, brush your teeth and hair, and don’t drink before networking. At some stage you may be asking this person for a sale, you must make a positive impression the first time you meet them.

Smile, shake hands, look people in the eyes, and be politely confident.

Pay attention to the other person, listen carefully, and take an interest in them and their business.

4. “Nice guy, what did he do again?” – Know what you can offer

The common term for this is an “elevator speech”, that is, I speech that you should be able to reel off in one elevator ride and clearly state what you do to a stranger.

A big mistake with this type of speech is to forget the WIIFM rule (What’s in it for me?) An elevator speech filled with industry jargon will only confuse the person you meet.

Keep it simple, and focus on the benefits you can provide with your service.

State the “What, Who, & Why”

What you do, Whom you do it for, and Why you do it.

For example; “I work with medium and large businesses to help increase their sales and profits by providing targeted promotional campaigns using branded merchandise”

This will probably prompt the listener to ask for clarification, if they do, tell a story, people like stories.

For example; “One of my clients sells weed control chemicals to retailers whose target market is farmers. They wanted to increase sales of a particular weed spray, so we provide them with a trade loader campaign. By purchasing two bottles of the weed spray instead of one, the farmer was given a free gift, a branded woollen beanie. This doubled the sales of the weed spray for that season, all for the cost of a woolen cap!”

Remember though, it is great to be great at what you do, but the prospect will be interested in what you can do for them, so listen carefully for clues….

5. “She didn’t hear a word I said…” – Listen more then you talk.

My grandfather used to say, “You have two ears and one mouth, therefore you should listen twice as much as you talk”

Carefully pay attention to what your prospect is saying.

Importantly, this is the time you can be mentally checking off your qualifying list and deciding if you wish to do business and pursue the relationship with this person, if you are not listening you might miss some important clues.

Make eye contact, remember their name, use affirmative gestures like nodding or inclining your head.

Ask open ended questions to encourage your prospect to clarify points for you.

At the end of the night, you may just be the most memorable person they met that night, just because you listened to them more than anyone else.

6. “I must check his website out…” – Be a resource

Be generous, you reap what you sew.

If you can, refer business to the people you meet, offer them advice if appropriate, and volunteer for the board or organising committee or a community project.

Remember networking is all about building relationships, not instant results. The more generous you are with your knowledge, time, or effort the more you build relationships.

A perfect example of that is this website and forum. By building a free resource for my target market, I am building relationships with people from all over the country and world. The long term goals will be rewarding and make up for all the late night sessions at the computer!

Be available and be a resource, the “go to guy”

7. “I hope they call me…” – Fortune is in the follow up

This is an over looked but vital step in networking. The follow up is vital as another step in the marketing process.

It is said that it take 6-8 marketing contacts to build a relationship with a potential client. The follow up can be probably the most important one.

The day after you meet the new prospect, drop them an email or a phone call or a scribbled note on a “with compliment” slip.

Thank for taking the time to talk to you, mention some points they talked about, for example “Good luck with that large contract, I hope you get it” This shows you were actually listening.
Keep it short and sweet, and very importantly ask for their permission to add them to your contact list.

Australian law (check your local laws) allows you to add a person to your email list if you met them networking, but only if you have verbally asked them to do so. By asking in an email, you get it in writing.

Then keep in touch via email, letter or phone call in the future, remember you are building a relationship.

Networking doesn’t have to be difficult or awkward, lets face it, all you have to do is find the right people, carry a card, look presentable, know what you can do, listen, be helpful, and then write an email.

With a small amount of effort you can really make yourself stand out from the handshaking, card spewing, networking sharks, and start building relationships.

Business Profiling a 3 Tiered Approach.

This could be the start of a new era in understanding business. Okay I might be overstating things here, but at least take a look and check out the three levels of business and then check out where your business might fit. At any of the three levels businesses can be successful, and the descriptors utilised are to give a raw appreciation of the general lay of the land at each level. Enjoy I hope the comments will be thick and fast…

Business Profiles

This link will download a PDF file for you to look at. For those who have downloaded a pre Sept 07 version, this one has a few new additions to add depth to the discussion.

Great Service Is Its Own Reward

Some times it’s too Easy to see the bad stuff in customer service, so now lets use this as motivation to get really good at customer service.

Ask…

  • What does our team do at the first greeting of a prospect? (imagine a retail environment).
  • What do they do BEFORE the first greeting (customer is looking in the window, about to walk in…) do your people appear friendly from a distance, through the window, as they approach the prospect?
  • How do they build the professional relationship with the prospect, and then the customer. What do they do to thrill the customer with readily repeatable service standards.
  • How do they go with capturing info for a mail out from every customer (and how does your business handle that too?)
  • How effective are they at portraying a radiant positive glow that is elegantly and fantastically infectious (YES INFECTIOUS!!!!) so that customers are UPLIFTED as they depart the store.

Some call it Blow Them Away Facilitation BTAF, the thought is they should be bown away with the level of excellence in service they got, and even more blown away that it is repeatable.

I was in a training situation for a franchise 18 months ago and found although the company put forward the impression they were big on service they did not include any customer service info in the weeks long training… so it became a thing the franchisees had to develop themselves.

So how is your service, and the team that serves, what’s in writing, what do you expect and what do they deliver. If you ask old hands in the business for feedback on this one they will say we do okay, then ask “Compared to what, or who?” while they are stumped give them a kick in the shins, just as a wake up call…

Now, make your service brilliant. Then be prepared for the hoardes of fabulous customers that will follow!

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