Posts Tagged ‘marketing’

Who is My Customer?

When I look at some businesses I sometimes think they have never considered the basic question, “who is my customer?”

My Customer is Everybody!

Some businesses think everybody is their customer, but the truth is not even Walmart can say that. Some people simply will not shop there. But, let’s get back to your small business. You are Read the rest of this entry »

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The Dynamic Business Model

Have you ever wondered why what was once a thriving business seems to suddenly be struggling? Much of this I believe can be contributed to not embracing what I refer to as the dynamic business model.

Some Insight

Several weeks before writing this I read an article discussing how the business models for several of the social media companies were changing. The underlying reason was that the way consumers consumed information and communicated was in flux. While much of this change is being driven by Read the rest of this entry »

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Business Plan Framework

My last posting, The Flexible Business Plan, discussed the benefits of having a simple business plan that easily modified rather than a complex and detailed plan. Let’s now take a look at a way to do this.

A Little Anatomy

As you certainly know, a doctor doesn’t just study the outside of a human body. They need to know what is inside, including the skeletal framework on which everything hangs. Artists do the same thing when they study anatomy to understand how the skeletal structure impacts appearance of the rest of the body. With that understanding the artist is able to more accurately depict the human form.

A business plan has a skeleton as well that I refer to as Read the rest of this entry »

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The Flexible Business Plan

Things change faster now than ever, and that includes business. Is it time to rethink that complicated business plan?

Some Background

In another post called The Business Plan – Hold On to the Napkin we looked at some of the reasons a simple business plan that can essentially fit on a napkin may prove more useful in the long run than a detailed and complex plan. Again, this is not to say that the detailed plan does not have a place, but it is to say that often it is overkill.

Why a Flexible Plan?

Since things change so often, if the only thing your company has is a long, detailed plan you may find it Read the rest of this entry »

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Generalist or Specialist?

There is an ongoing debate as to whether a business should hire those who are generalist or those who are specialist. Here are a few thoughts on that.

Generalist

A generalist is a person with a diverse base of knowledge. They are sometimes viewed as not being particularly strong in any one area, although they would obviously be stronger in some areas than others. While I am sure there are some who fit that mold, my belief is that the role they fill often distorts our perception of Read the rest of this entry »

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Change or Become Irrelevant

What do all of the following have in common? Hudson, Henry J., Crossley, Packard, Studebaker, Oldsmobile, Plymouth. They are all automobile brands that are no longer produced. At one time some of these were significant players in the automobile industry. So what happened?

Relevance

When these companies were successful they were relevant to the auto world. At one time some were highly successful. Although they all ended their run at different times, they all have something in common. They lost their relevance in the sense that people stopped desiring these vehicles. But why did this occur?

Change

These companies failed to sufficiently Read the rest of this entry »

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A Time to Change

Have you ever wondered how to know when you need to make some changes to your business?

One Clue

Not too long ago I wrote a piece called Ready for Some Change? in which I reflected on how business today is subject to constant change. The reasons for this are varied and include such things as changing demographics, shorter product life cycles, and increasing rates of technological advances. So, the first clue to knowing when you need to change is to understand that change in today’s business climate is ongoing. True, you may Read the rest of this entry »

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Breaking the Business Mold

You’ve probably heard some version of any or all of these statement, “If it’s not broken, don’t fix it” or “If it’s not broken, it will be” and finally “If it’s not broken, break it.” The important thing is that we examine these statements and Read the rest of this entry »

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Managing Customer Relationships

Many companies try to avoid the reality that they must be actively managing customer relationships. The truth is that we must do this. I touched on this a little in a previous blog post, Are You Delivering Value?. A large part of that post was devoted to the idea that we must determine exactly what it is that we are selling.

What Must Be Considered?

Picking up on the thoughts in the blog referred to above, we will find that what we are really selling is Read the rest of this entry »

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Is That Really the Truth?

We live in a time when we are inundated with news, facts, figures, claims, statistics, and other information. This growth in available information is accelerating as the methods of spreading it are added. We now have word of mouth, mail, email, websites, Google and other search engines, Linked In, Twitter, Pinterest, Google+, and the list continues to grow. In fact the available ways to send and receive information can be overwhelming.

But There’s a Problem

With all the information with which we are bombarded, how can we tell what is true, and even if true is it valuable? First, what is truth? I once heard a definition that I think is helpful. Truth is anything (symbol, word, etc.) that corresponds to reality. So, for example, the word light corresponds to the reality we know at light, and likewise the word two or the symbol 2 correspond to a particular value we know.

The Problem is Truth Claims

Each day we hear numerous statements, some of which Read the rest of this entry »

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