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Archive for September, 2007

Crafty management

Sep 30

Posted by Steve Gray in Excellence!, Innovation and Creativity, Leadership, People!, Personal Development, Planning, The Board Room | No Comments

A blog that chats about the craft of management now that’s useful! Check out the ten x 3 article I liked them all!

Management as a craft seems to resonate with the idea of the manager as an artisan, with a unique blend of artistic and practical skills. If this is the case the business could then be evaluated for its beauty, craftsmanship, structure, design and practicality. In a cultural context there is probably a lot more philosophy and depth that would show through as well.

I think if we take it further and imagine the artisan creating a clay bust for example, it needs to be built around a solid armature and the end use needs careful consideration, if the craftsman gets it wrong the bust could crack, not hold the clay or be unusable for a range of other structural reasons.

On the other hand if it is well constructed and suits its purpose the result will be a thing of beauty with a sense of elegance that enthralls the viewer. Now that’s the art of business.

Some of the favourites

Sep 29

Posted by Steve Gray in Excellence!, Growth, Innovation and Creativity, People! | 3 Comments

I get asked which of my posts are my favourites and have been asked to put a few in here for people to find. That’s hard to do in a sense but hopefully you will agree with my points.

Business spirituality this happened as the results of reading a school newsletter it was so interesting and easy to adapt the principles across to business.

Excellence this one is short but I wanted to get to the point fast!

Your annual report why just the big guys? Do your own and really get to the bottom of things.

Remember these are my favourites and if you are new to this site you might find many others, go searching and have a read or three! if its business ideas you are after there are plenty to choose from.

You do NOT have my needs!

Sep 28

Posted by Michael Crooks in Innovation and Creativity, Starting out in business, The Customer Service Dept, The Marketing Dept, The Sales Dept | 3 Comments

Printed on the sign were these words, “We have your plumbing needs.”

No they don’t. You see, they can’t have my needs. Only I can have my needs.

If I need a sink-stopper thingy, I seek out someone who has a sink-stopper thingy. I don’t need someone who has my sink-stopper thingy needs. Because if they have my sink-stopper thingy needs — that means they need a sink-stopper thingy too!

Mr. and Mrs. Retailer please, if you are currently saying, “We have your ______ needs”, please change it to:

“We Satisfy Your ______ Needs.”

Here’s the difference:

1) “We Have Your Sink-Stopper Thingy Needs”
2) “We Satisfy Your Sink-Stopper Thingy Needs”

#2 is a lot more inviting and quite frankly it tells prospects, clients and customers that an answer, a solution or possibly satisfaction is just beyond that door.

Please remember this as you put together your adverts: You don’t have the consumer’s needs, rather, you have what can satisfy the consumer’s needs.

Job satisfaction and you.

Sep 28

Posted by Steve Gray in People! | No Comments

My dad always revered job satisfaction and would ask me “are you happy at work?” Mostly I was, but more due to the role and the environment rather than any management on mine or the organisations behalf.

There is an age old debate about the satisfaction and $$ debate as to which is more important, to me I guess they go hand in hand, there would be a threshold where if the $$ did not cover living expenses then any satisfaction gained might start to fade…

So I figure itgoes the same for the business owner as well as the employees, there needs to be a balance, but lets just focus ont he satisfaction side for a while. what sorts of things provide job satisfaction? here’s my list.

- Job challenge – Not challenging to the point where it goes over your threshold, but it keeps you thinking and acting in useful and effective ways.

 - You can do it - You have the skills and attitude to do it, perhaps not straight away, but in time the role will readily become yours, with the right skill set you would be able to do it elegantly. With the right attitude you will fit into the business environment suitably.

- It works with your motivators and drivers – There is a fit that takes place for your motivational needs, be that as an achiever, power and control, security or affiliator, whichever one/s you are the job fis to that in appropriate ways.

- It fits to your personality type – Your personality thrives in the role you have, if not you might feel on the outer and people in your team and customers would soon recognise that if you are a thinker type in a socialiser type role you would be a fish out of water… not good!

All these things go to making up the profile I believe makes for job satisfaction. Check it out and see if you have the right balance for your role or buisness, you may have to change a few things to make a really solid fit.

Find the champions

Sep 27

Posted by Steve Gray in Excellence!, Leadership, People!, Personal Development | No Comments

I live in Geelong and as we come up to the final of our Australian Rules football season Our Geelong team is a hot favourite to win, so to find a champion down here at the minute is very easy! Just name any one of the team members and I will agree!!!

These kinds of chapmpion are easy to find because they have been consistent performers all year and the winning streak of 16+ games was sensational.

How about in buisness? In particular your business, your team, or your division?

Might I suggest you find a few ways to do just that and discover what are the qualities you might look for in a champion.

Make a checklist of possibilities, then award a weekly champion and record it, then a monthly one, and so on, in the end the champion of the year would be the one with the most wins. The results? maybe mixed, some might embrace the idea, while others might squirm, so go with the positive outcome and invite a few of the team to push the idea and become involved in the process of selecting the champion.

People generally like to be noticed so notice them, for all the right reasons.

How viable is the business?

Sep 26

Posted by Steve Gray in Finance, Franchising, Planning, Risk Management, Starting out in business | No Comments

In all the things that a business is, the number one thing should be viability. It’s great you have an idea to pursue, it’s great you have a mission and vision, it’s fantastic you have the skills to do it as well!

But…

How viable is it?

Let’s be perfectly honest, business is about profit, and your role in the scheme of things (having all the other traits), is to ensure it is a profitable operation. Okay there is probably a moot point about how much profit you make at the end of the day, but it is important to have one nonetheless.

Consider…

Will the business be seasonal? -It’s great to grow something and sell it but the in between time might make things tough.

Will there be a demand for it? – Your friends say so, but how will you really test it? We call it market research, go google that and find a checklist or system to do it.

Will you be able to hang on? – There is often a lag between start up and profit… Will you have enough cash at hand to handle that?

Can you do it? – It’s one thing to be trained to do something and entirely another to have the right attitude and emotional stability to do it as well.

How much work is involved? – Planning, permits, licenses the list can seem endless, please do your research thoroughly to save a lot of hassle, that way you will have some strength left when it really gets started.

If you put up cash, how long before you get it back? – Putting cash in is one thing, getting is back is another. Do some cash flow forecasts and figure out how long it might take, make sure you err on the side of low income! Better to be safe than sorry. Imagine projecting a return in five years only to have a lease run out in four… OOPS!

Sell it to experts… – Find some people to pitch your ideas to and see if the numbers you create for it REALLY stand up… this might be your accountant (Don’t have one yet? Hmm perhaps now is a good time…) This panel of experts should be people who have a real knowledge of business and can ask more the the right questions you need to focus on for viability.

These are teaser points to get you thinking about the viability of your idea, so if you are setting out on the glorious trail of business, consider using them to keep the trail sunny and warm, you will pareciate the views more that way.

For more info on getting started in business and understanding the profiles of business try this.

Transparent, secure and solid.

Sep 26

Posted by Steve Gray in Excellence!, Finance, Growth, Leadership, People!, Planning, Risk Management, The Board Room | No Comments

In Australia today, a transport company in Sydney McArthur Express has gone into receivership and has been found to be insolvent. This means the company is not viable and they will sell everything and pay out the creditors as best they can.The plight is a miserable one for workers, the creditors and operators of the business, let alone the customers… so the aim of this blog the idea of creating a secure and solid company through transparency.

I want to provide two ideas here… The first idea mooted is an old one it’s called open book management, the aim being to provide all staff with the opportunity to see exactly what’s happening in the organisation and I mean everything. In short the aim from doing so is to provide an environment and foster a culture of openness inclusion and interest. The second idea is to create a solid foundation for any sized organisation but in this case for a larger employer. The idea is to create a debt reserve fund, or a wealth account.

By being open with the “books” those interested can ask questions, see the stability and get a feel for the organisation as a whole. In reality many people do not take up the opportunity however the resultant positive effects can speak volumes in terms of trust and honesty. It tends to send the message that the company cares. The idea is simple enough but it often takes courage on behalf of the business operators to be so open as for most its “Their baby”. I tend to hold the view that sure its your baby, but the minute you employ someone its a shared baby.

The second idea of a wealth fund or debt reserve fund is to create the ultimate backstop, one that you hope will never be used! The idea is simple, out of the profits the company makes a % of that is put into a bank account, when it grows to a set size some of the funds can be put into other assets that earn a higher return. The amount int he initial account grows again and so on. As the company grows there is a point where the initial account amount should get bigger before the % amount leaves the account for bigger things… this gives the Co the liquidity it requires in an emergency.

The trick with both of these ideas is having the strength to do them, the will power to keep them growing and the sense to make sure they stay in place to build a solid foundation for everyone int he company and not just the owners.

To all involved in the crushing blow to McArthur Express, my sympathy, to those wanting to avoid these sorts of tragedies, I hope the ideas I present are useful…

Use Pens As Effective Promotional Marketing Tools

Sep 25

Posted by Michael Crooks in Innovation and Creativity, Planning, Starting out in business, The Marketing Dept, The Sales Dept | 1 Comment

Everyone was screaming. Chaos ruled. Then, from nowhere she appeared. With surgical precision, she dismantled her pen, quickly cut a slit into the man’s neck and inserted the pen barrel. As color returned to the man’s face our hero wipes her brow and everyone cheers for joy.

Isn’t TV Great? You may never use your pen to create an emergency airway, however, you can use a pen to breath some fresh life into your promotional marketing activities.

First, a word of warning. There is a huge difference between a cheap pen and an inexpensive pen. Remember, even if you desire to simply hand out a pen to every Jill, John and Samantha that walks by your trade show booth, the quality of what you hand out is a reflection of you and your company.

Let’s assume you’ve chosen a pen that is appropriate for your need and your budget. Let’s explore some ways to use that pen to promote. While not all of the following may be appropriate for your particular situation, I’m going to paint with a broad brush in an attempt to generate a number of possible ideas for you.

Lumpy Mail. A pen is lightweight yet causes a regular envelope enough distortion that it will usually get opened. If you’re sending a letter to prospects and you want to increase the chance your letter will get opened, a pen will do it. Combine this idea with Prize Derby or Design Contest (explained later) and you could have a real promotion on your hands.

Targeted Placement. Where does your target audience hang out? Does your target audience frequent a local coffee shop? Maybe the hair salon is the best place to target your market. I often leave promotional items such as pens and note pads on the counter at the local chamber of commerce where I’m a member? How about your Gym or health club? Where ever your target hangs out or frequents, ask the owner or manager if you can leave a supply of your pens there.

Quick-Draw McGraw. About four times a week I’m somewhere when someone asks, “Who’s got a pen?” I am usually the first to hand over my imprinted pen. Key Point:A pen that is received at a time of need is more highly regarded than one that’s simply given when no need is present.

Forget Your Pen. Use your pen and leave it every time you sign a credit card receipt. It doesn’t matter if it’s at the gas station, a restaurant or retail store. Leave your pen, ya know … as a public service!

Permission Based Usage. Consider making friends with local sit-down restaurant owners whose clientele may be your prospects. Then get permission to supply the wait staff with your pen. Encourage them to allow patrons to “swipe” the pen. If you choose the right, low –cost retractable pen, they will want to.

Pen Design Contest. Have your clients and prospects supply you with ideas on a unique design for the imprint of your pen. Post the top designs on your website letting your clients and prospects know through e-mail or snail mail that the designs are up. Let them cast their vote for their favorite. Make sure you get their e-mail and other appropriate contact information as you are now building your database.

The winning design wins 50 of the pens. You can bet they’ll show them to everyone they know. This whole tactic is designed to drive people to your website. Of course everyone who votes gets a pen.

Prize Derby. Pay extra, if possible, and have the pens sequentially numbered. Imprint the pens with “Go to www. _______.com.” and if the number on this pen matches a number on the prize page you win!

Prizes can range from other promotional items (mugs, t-shirts, tools) or your product or service such as free samples or special package deals. Every couple of weeks you change the numbers on the web site so people have a reason to hang on to the pen and check back every couple of weeks.

Search, Explore and ASK! Look around. I go to tradeshows where a booth will want people to fill out a sign-up card with plain-Jane pens. Sometimes they let me replace their plain pens with mine. Every now and then the tube canister at the bank drive though doesn’t have a pen. You bet I stuff one in there. Opportunities are everywhere, especially with non –profits. They can always use a few extra pens. Perhaps they’d agree to send your pen out with their next mailing asking for donations.

Pens can be a powerful promotional marketing medium when supported by an effective, appropriate and creative idea. Opportunities to promote yourself are all around. But if you don’t look, you won’t see. And if you don’t ask, the answer will always be, “no”.

Customer profiles

Sep 25

Posted by Steve Gray in Negotiation, People!, Personal Development, Planning, Starting out in business, The Customer Service Dept, The Marketing Dept, The Sales Dept | No Comments

There are customers and there are CUSTOMERS! it can be very useful to know who you are deailing with so you can figure out the best way of working with them so they are influenced to purchase and deal with your organisation.

there are personality profiles, psyche profiles and marketing type profiles here is one we can explore.

1. Deal Makers,
2. Price Seekers,
3. Luxury Innovators
4. Brand Loyalists. 

There are other ways different ‘schools of psychology’ describe  these but for this is one way.

Lets start to build a profile of these and see what descriptors we can come up with to fill in the gaps (its one thing to have a title, and another to have the depth of understanding to make it useful). Some sales people run into the trap of imposing their own profile on customers, e.g. price seekers, just because  you might like to buy on the cheapsest price, does not mean all customers want to, so talking price only is of little value. Being able to relate and connect with the various buying types is therefore very useful.

Deal Makers - They want to negotiate – They want the thrill of pushing and pulling and thinking they have got good value for money – They may not want the latest release of an item because it might not have much bargaining power for them – They are not fussed about brands too much.

Price seekers - Is it the cheapest? – Will I have buyers remorse if I see it cheaper elsewhere? – Not interested in the latest technology, they know it’s expensive in teh start up phase of it coming on to the market – Brands are almost meaning less, its more of a back up to a ‘wise purchase’.

Luxury Innovators – “I only buy high end luxury items” – They buy the latest for its show off value – Price is often a secondary or lower value – they want their friends to notice – They know the top brands but are not loyal to any one of them they want the latest and the more luxurious it makes them feel the better!

Brand loyalists -  These guys stick to brands they love in all products – They belive they are getting value becasue they know that quality is important and the right brands seem to produce quality that lasts.

Using these profiles you could figure out the types of customers your offerings might attract and therefore how you might lure or influence them to buy from  you.

The “easy in” franchise start up.

Sep 24

Posted by Steve Gray in Excellence!, Franchising, Human Resource Management, Innovation and Creativity, Negotiation, Risk Management, Starting out in business, The Customer Service Dept | No Comments

For the Franchisor: How do you make the start up phase easy for the Franchisee?

For the Frachisee: How does the Franchisor make the start up phase easy for you.

This is the sort of question both parties should be asking themselves and for the Franchisor reviewing it often to make sure they have the best systems in the business.

Lets take a look at perhaps a usual scenario… the Franchisee joins the business, signs up and does the training, they start the business and pay the usual franchisee fees in the first month or so… it’s baptism by “deep end” immersion!

Lets step back a bit further and take a look at what really happens. For some this business opportunity is a start up, no business experience, and while there is probably great support systems in place after the training, some may not know how to use them, or perhaps might feel as though they would be embarrassed to use them. Although the Franchisee is keen to start there will probably be a range of issues they have to contend with, a new start, a change of work habits, new systems, training to learn… and the list could go on… and ON!

It might be suggested that the Franchisor’s role (in part) is to make this transition phase as simple and easy as possible so they can build the esteem of the Franchisee (vital really). So here are a few suggestions that could make a solid point of difference to the way your franchise business starts its new recruits (remember to use these as selling points!)

Fees - Consider not having the first two or three months of fees, and or making the fees a low start option (e.g. they pay an increasing percentage in the start up phase) To redeem the loss you include it in the start up fee for buying the franchise.

Income – During the training period and the first few weeks of set up, there is probably a loss of income, if you do not have an income guarantee, include a short term one to take the pressure off. Let the franchisees focus clearly on the training and getting things right.

Support – coaching – mentoring – training – Training is usually a given, the coaching, mentoring and other forms of support may be voluntary, or the onus put on the Franchisee. The aim being to ensure the Franchisee is a “happy camper” your role is to make these aspects more robust and easy to implement. If the new recruit is thrown in the deep end, how can you provide ‘services’ to ease the pain and ‘stop them from drowning”? Lets face it there are too many Franchise horror stories and the time stop this is at the start. If you have support staff in contact with franchisees how well do they coach, mentor and support?

Advertising – A vital part of the business mix, advertising can make or break a start up business. How many ways can you build extra value into the start ups advertising to ensure added value and possibly more customers? Show them the Press Releases you have sent out to their local media, then scour their local papers for articles that have been printed and show them, look for opportunities in the local media and utilise those to ensure the start up phase is happening with a lot of interest. Perhaps consider teaser adverts to build intrigue. Of course all the extras are in the price of the franchise.

List – Frequently asked questions for new franchisees (perhaps in an intra-net) and provide a whole range of support materials for them, from simple short video examples to PDF type documents or power point presentations they can get answers with very quickly. give the peace of mind in knowing the answers are there 24/7 so they do not have to wait for an “Area Manager” to call them back with an answer on Monday and it’s Friday night!

Family – A little touched on area of business… but the family support is vital to how the new franchisee feels. What material can you provide to raise their awareness of this new change to their lives? How it might effect things, the rewards it might bring later on… and so on. Most of all though provide something, even a brochure or leaflet is better than nothing and encourage them to get involved. For smaller franchises it might be as simple as inviting them to help out with the bookkeeping (if they have those skills) or delivering pamphlets in the territory. Any way they can help out can be very useful to the family stability in the early phases.

Thats the list for now, but keep searching for ways to help the new recruit. For Franchisees, look for franchises that offer as many of these support devices as possible and ask existing franchisees about how well these worked in reality.

For more franchise info…

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