In business, we often strive to make all of our customers happy by being good at every feature or service we offer them. The problem is that being good at a lot of things makes it difficult to be great at any one thing. Why do we do this? We think we can excel in any one area when the reality is we are just good or average in all areas. Have you ever thought about trying to be bad at something you do so that you can grow your business and increase your market share?
-
Thankful for Abundance
This week not only represents the start of the holiday season but also the coming together of family and friends. We all come together and sit in front of an amazing spread of
food to celebrate how thankful we are for the sacrifices our forefathers made to journey so far and under such risky conditions in order to start a life in this new land, which was not so plentiful at times. They did this, so they could have a level of freedom that they were not experiencing in their home country. -
Get Your “Why” and You Will Get Your Customers
I have written before on finding your purpose and discovering why you do what you do. It is important to understand your “why” because it changes the way you communicate with your target audience in order to sell your products or services. Most of us communicate with others by discussing our features and benefits, which is the “how” and “what” of the work we do.
Discovering and sharing your “why” with your audience connects them in an emotional way that motivates the decision making process. In Simon Sinek’s TED video, “How Great Leaders Inspire Action,” he shares his discovery of the “why” and understanding why you do something and why your organization exists.
-
How To Be Happy During Challenging Times
When I was in Istanbul, Turkey back in September, I heard Harvard lecturer and Good Think CEO Shawn Achor give his presentation focusing on research around happiness. This was fascinating, filled with humor, and centered on the power of happiness can spread and lead to more productive workers. Sharing this now seems very appropriate, given that half the voters out there are not very happy about the outcome of the election. I myself feel like capitalism has been pushed aside in favor of a bigger, more controlling government. I believe economic growth and jobs come from entrepreneurs, and big government only gets in their way, so this doesn’t motivate me to do a happy dance. So how can we all increase our happiness during challenging times?
-
Unearthing the Latent Demand to Grow
Over the past few weeks, we have been discussing the change in the marketplace oversupply. If we are going to grow our companies, we need to figure out how to zero in on the right demand sectors. To do this, you first must figure out your demand profit pools. So, what are those? Demand profit pools are the areas of untapped demand that we as business owners may not be aware of because we haven’t dug deep enough.
In “How Companies Win,” Kash and Calhoun discuss this and cite an example of the dog food industry. This industry provided bags of food under standard segments based on large, medium, and small dogs.
-
Our Economy’s Transition to Oversupply
Last week, I said we would discuss how to zero in and better handle the demand economy, and we will also look at how to make your offering target the demand that you want to create. We will actually do that nextweek, so we can first understand how we have transitioned into an economy of oversupply. Let’s review why economic demand has changed. In the book “How Companies Win,” Kash and Calhoun describe four phases of transitions moving from a supply based economy to a demand based one.
-
Does Your Business have a Demand Problem?
Looking at what has been happening in the world with the slow economy, you would think it all has to do with a bad recession or political activity that is less than favorable to the business world. Look a little deeper, and you will see things are changing. We should be aware of all that is going on for the sake of positioning our businesses for the most potential possible.
I believe, as a leader of a company and the one responsible for putting us in the path of future waves of opportunity, my purpose is to read and learn as much as possible. To achieve this, I participate in the EO University Conferences, attend the Verne Harnish Fortune Conference, and read a large number of books every year.
-
Mobile Apps, Change You Can Believe In!
The world is changing quickly. Many times we find ourselves looking up from whatever we were doing and wondering, “Where did that come from? Why are people doing it that way? How does everyone seem to know about this except me?” In the world of the internet, we all stay connected at all times and all locations, so when changes occur, they are downloaded and spread in real time. Some of us simply choose to see it on our own time frame.
Look around when you walk into a restaurant, when you’re waiting in line, when you’re sitting around the airport or subway station.
-
Steve Jobs And The Power Focus!
I am writing this week’s blog on Friday, October 5, which has great significance for me. My partner of 20 years back in my investment days was born on this day, along with my lifelong best friend Ronald Poles. It is also one year from the day that Steve Jobs passed away. Verne Harnish reminded me of this in his blog, and he shared this video put out by Apple. It is a nice tribute and a great reminder of what he and Apple have done for our everyday lives.
-
A Better Version of Myself
I have returned home from my EO adventure in Istanbul, Turkey. What an amazing time with 800 entrepreneurs from 91 EO chapters in 39 countries around the world! We heard many interesting speakers, including the Turkish Prime Minister Tayyip Erdogan, who sent a recorded message for us. He told us about their country’s openness to trade and commerce. They are the fastest growing G-20 nation at 8.5%.
