A change of scenery October 26, 2009
Posted by petemcd in Marketing, Strategy.add a comment
I met a few friends or business connections today in two locations here in the Seattle-Bellevue area. I met one person at the Bellevue Hyatt Hotel and another at the University Village Starbucks (near UW).
The Hyatt had a huge addition put on over the past two years and has been open for a few months. The connecting area between the original hotel lobby and the new one is a gorgeous atrium- a very attractive and comfortable place to sit and converse. The new tower has new ballrooms and meeting rooms and the entire facility says ‘1st Class’. If I was visiting Bellevue or the eastside on business this is where I would stay.
The Starbucks in U-Village has been remodeled also. It’s well done- very warm and comfortable and it strikes me as a step away from the almost too sterile, too perfect, too predictable Starbucks that we see everywhere. In my opinion, Starbucks has been in need of an upgraded and different look at their stores for quite a while. I don’t know if this is a test store for them or not. To me, the colors and mood of the place seem more coffeehouse like, and I liked it.
Whatever business you’re in, it probably makes sense to hit the reset button periodically to refresh your image. Every major company does this and small businesses would be wise to do so also. McDonalds comes up with a new slogan every year or so. Microsoft uses their Windows logo and colors in new ways. Nordstrom has been gradually changing the interiors of their main stores. IBM does variations on its famous logo and its tag lines. The auto companies change their messaging to fit the buying public’s latest hot button.
The world around you is constantly changing. Your customers are always looking for something new and/or different. What are you doing to reinvent yourself and be seen as fresh, exciting and relevant?
© 2009 Peter E. McDowell
PERFORMA Business Development
Different View/ Better Results
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Web @ http://www.performabusdev.com
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Recapping the business October 19, 2009
Posted by petemcd in Marketing.add a comment
I’m always attempting to convey points of view and information that have real value for people in business- things for you to think about and possibly nudge to get you to take action to improve your situation.
Recently, my newsletter and blog articles have stressed the need for business owners and managers to relook at or continually look at their businesses to see what needs to be different in order to move forward. This is strategic thinking first, followed by tactical thinking and execution. I’m no different than many of you! I do the same with my business and have evolved my offering and messaging over the past year to better reflect what it is that I do. I thought that I would share that with you so that you’re clear on the scope of my work. You may find value in what I have to say about my own business as it relates yours.
My Belief: Businesses must be marketing and sales focused first and foremost. A sales driven culture, one where everyone in the organization is focused on the customer, is the key. It’s no good to be great at production or innovation or accounting or whatever if your market isn’t clear and you can’t sell your product or services into that market and provide outstanding ongoing support.
The Real Business Problem: lack of a cohesive, aligned and powerful strategy to drive customers to your business and to increase cash flow in order to grow the value of the business for the shareholders and benefit all stakeholders.
My Solution and Work: I help business owners and their top managers to see their work from a different perspective, beyond the horizon in order to get better results such as higher sales, better cash flow, more profits, less turnover, higher business valuation and more. As a trusted advisor and consultant with experience in growth companies and turnarounds, I help my clients with sales focused business strategies, business best practices and business strategic planning. These are all linked and aligned to build a sales driven organization. I work with business owners in the business to business (B2B) segment whose businesses have revenues from $5million to $50million. These businesses are or in the past have been profitable and have a real need for sound marketing and sales strategies as the drivers of an aligned business strategy that leads to long term prosperity, health and wealth.
You may have noticed these key words: marketing and sales focused, sales driven culture, sales driven organization, cohesive, linked, aligned. A bit repetitious maybe, but every business needs to have disciplined repetition in its approach. Stakeholders become an aligned and cohesive group with repetition of a company’s strategy. And, a successful company is one in which its strategy is sales driven.
© 2009 Peter E. McDowell
PERFORMA Business Development
Different View/ Better Results
email me to request getting my e-newsletter!
Web @ http://www.performabusdev.com
Blog @ http://petemcd.wordpress.com/
Connect with Pete on biznik, Contribution Networking Party, Eastside Entrepreneurs, Facebook, Linked In, Plaxo and Twitter.
Spin September 2, 2009
Posted by petemcd in Culture, Marketing.add a comment
Here’s what Wikipedia has to offer on spin-
In public relations, spin is form of propaganda, achieved through providing an interpretation of an event or campaign to persuade public opinion in favor or against a certain organization or public figure. While traditional public relations may also rely on creative presentation of the facts, “spin” often, though not always, implies disingenuous, deceptive and/or highly manipulative tactics.
Politicians are often accused by their opponents of claiming to be honest and seek the truth while using spin tactics to manipulate public opinion.
Because of the frequent association between “spin” and press conferences (especially government press conferences), the room in which these take place is sometimes described as a spin room. A group of people who develop spin may be referred to as “spin doctors” who engage in “spin doctoring” for the person or group that hired them.
I’m not sure about you, but for me the political spin from the two main political parties is getting really old. Yes, I know it’s been going on for decades but it actually seems to be getting worse. I’m sick of it and so are many others that I know. Wouldn’t it be nice to have real dialogue?
If you regularly spin your business story you’ve got deep functional and values problems and sooner or later spin will bite you. “Oh come on,” you say, “we don’t spin our story.” Well maybe you don’t, but there are plenty of organizations, large and small, that do on a regular basis. They fudge facts about their performance. They fudge information about the company’s capabilities. The fudge information about problems they’ve solved, experiences they’ve had or customers they’ve served. And when questioned deeply they spin a story to explain away inconsistencies or lack of execution. I’ve read stories over the years in newspapers and journals, have seen it firsthand and I’ve heard about it through others.
It’s really inexcusable and quite sad. It tears away at the credibility and trust of the specific company and ultimately it can affect an entire industry or business in general. Spin means something really isn’t honest or truthful.
Is that the way you want your business or industry to be seen, as untruthful and one that rationalizes or manipulates for gain or advantage? I hope not and I doubt it. You’re better than that. You probably present yourself and your business as real and genuine, and that’s good. And, you should also expect that those who you do business with behave in the same way- to be people who are straight shooters and can deal honestly with the facts and situations as hand.
So, here’s an idea for you: go spinless for the rest of your business career.
© 2009 Peter E. McDowell
PERFORMA Business Development
Different View/ Better Results
email me to request getting my e-newsletter!
Web @ http://www.performabusdev.com
Blog @ http://petemcd.wordpress.com/
Connect with Pete on biznik, Contribution Networking Party, Eastside Entrepreneurs, Facebook, Konnects, Linked In, Plaxo and Twitter.
I’m sorry, your product is no longer economical August 28, 2009
Posted by petemcd in Business, Marketing.1 comment so far
I read an interesting article in the front section of the WSJ yesterday, by Ann Davis and Russell Gold: U.S. Biofuel Boom Running on Empty. It made perfect sense to me. It’s another example of the lack of solid business strategic planning and business best practices.
The article states the following-
The biofuels revolution that promised to reduce America’s dependence on foreign oil is fizzling out. Two-thirds of U.S. biodiesel production capacity now sits unused, reports the National Biodiesel Board. Biodiesel, a crucial part of government efforts to develop alternative fuels for trucks and factories, has been hit hard by the recession and falling oil prices. The global credit crisis, a glut of capacity, lower oil prices and delayed government rules changes on fuel mixes are threatening the viability of two of the three main biofuel sectors — biodiesel and next-generation fuels derived from feedstocks other than food. Ethanol, the largest… and the article goes on.
Here’s why it makes sense. Every business in every industry must have the following: a legitimate and real market for a product or service (the market has a real need for the specific product) and one that economically makes sense. Products and their inherent benefits or solutions to problems will make sense economically when people demand the product and there are not other less costly alternatives.
This market never made sense to me. It’s a good example of government push and industry hype (usually these two combine to be a joke). Now, here’s a nice little tid-bit that most people forget about ethanol: it takes thousands, if not millions of acres of corn (so far, the most common source) to make even a small dent in the energy market. There is not enough acreage available in the U.S. to grow corn for all of its possible uses, especially including a huge shift to corn converted into ethanol as a major fuel alternative.
In Washington state, there was an article in either the Seattle Times or now defunct Seattle P-I about a year ago that reported on and analyzed the new ethanol plants coming on stream in the state. It talked about the large investment capital and the projected output and the need. I was astounded by two things- (1) as far as I can recall, there was no mention of and or analysis of potential global economic scenarios (what I call Risks or Threats) that might derail this venture (2) there was mention that just to fuel the state of Washington it would take something like two entire states of Iowa (I’ll admit that my facts are probably not exact, but you get the idea). Let me tell you, there is not a lot of corn in the Northwest. You are going to have to bring your corn resource in from somewhere else (probably on a diesel fired truck or train!).
You all might remember the stress on the corn markets with all this hype when the commodity was pushed up to unrealistic highs and had the negative effect on corn food products (the tortilla price run up in Mexico is one example, a run up that hurt the poor who use the product as a prime food staple). Ahh, so many instances of unintended consequences.
Be clear that I’m not picking on the biofuel industry. I am calling attention to the point that your business can wither away or die quickly if you have not done your homework on your market and included a deep SWOT analysis, especially the Weaknesses and Threats. Most marketers are optimistic about potential, so they spend most of the time on Strengths and Opportunities, because those are growth oriented and full of exciting possibilities. You cannot invent a new market or a new option in a market without fully understanding all of the holes in your plan and the things that can derail you, the ‘what ifs’. A business best practice would be to give high weight to these areas of Weaknesses and Threats. What is out there that could economically kill your business, maybe even before it gets started?
© 2009 Peter E. McDowell
PERFORMA Business Development
Different View/ Better Results
email me to request getting my e-newsletter!
Web @ http://www.performabusdev.com
Blog @ http://petemcd.wordpress.com/
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No frills July 8, 2009
Posted by petemcd in Marketing, Strategy.add a comment
I like to read the Wall Street Journal, to get a different slant in the news than what is reported daily in the local Seattle media. The WSJ always has interesting articles that you won’t find elsewhere. On Monday, one article caught my attention because it has relevance to every business, I think. This is a great example of business strategic planning in the midst of challenging times.
C.F. Martin, the maker of Martin Guitars, is using a Depression Era strategy to keep production flowing and avoid layoffs. By the way, the guitars are a $472mil industry, much larger than I thought. Their strategy? Simplify the product and sell it at a much lower price. Take out the frills and extras. Take out manufacturing costs of labor and material to provide a very decent product that meets today’s consumer’s low price needs. Their top end guitars sell for as much as $100,000 and much of their line is in the $2,000 to $3,000 range. These newer, low cost guitars are well under $1,000. Martin’s strategy is to keep their lines flowing and maintain a strong presence in the market.
We’re seeing similar strategies played out in other industries as well. The restaurant business, especially those in the higher end price range, is delivering high quality meals with lower pricing or providing incentives to customers to come in and spend. Witness the countless Happy Hour offerings under $5 on items that used to command $8 or more. Or, the three course dinners for around $30. The mentality is to drive volume and cash flow, and continue to have a strong, recognizable brand. You don’t want to risk losing customers or top-of-mind-awareness. It’s important to survive, be seen and to be in a position to grow strongly once again when the market turns.
What can this type of business strategic planning mean for your business? Where can your production or service expertise deliver real value at lower cost and still provide workable and acceptable margins in order to contribute cash to the business and retain valuable and experienced employees? It’s something to consider whether you provide a physical product or tangible service. It takes combined best thinking of your entire team to reap the benefits.
© 2009 All Rights Reserved Peter E. McDowell
PERFORMA Business Development
Different View/ Better Results
Web @ http://www.performabusdev.com
Blog @ http://petemcd.wordpress.com/
Connect with Pete on biznik, Contribution Networking Party, Eastside Entrepreneurs, Facebook, Konnects, Linked In, Plaxo and Twitter.
