Sync & Swimm

Marketing, Stocks, Sales, Radio & Rants

Archive for the tag “Business”

Traditional Media’s Free Lunch

So, everyone is upsetfree-lunch-is-only-found-in-mousetraps (1) that Facebook has changed their policy and is suppressing media and business posts in favor of friend updates.  Keep in mind that for many people their Facebook feed is where they get ALL their news.  Crazy right?  Well, the media let it happen.   

Let’s go back about 10 years.  Before the great 2008 recession. Back when a hash tag was just a pound sign.  Let your mind drift back and imagine everything you seen and heard on mass media.   I’ll help you out a bit.  Most (at one point almost all) advertising had one central message…..”Like us on Facebook”.   DJ’s had contests to get the most fans and likes. The Facebook logo graced the end of every local newscast. Every major brand had one mission—Build their fans & likes.

It was as if overnight everyone forgot there is no such thing as a free lunch.  “A way to connect with our customers for free”  Wow!…Yea  wow.  The media spent ten years turning all the power over to Facebook and now are upset that their relevance has declined…..A lot.

Radio, television &  print all thought that Facebook put them closer to their audience, and traditional media would always be the first choice.  Instead of building databases, investing in new social media platforms and better websites, traditional media took  the easy way out…Connect for free on Facebook.

And Facebook, much like a drug dealer handing out free samples, kept giving and giving….Until they didn’t.

The easy path is rarely the best path.  So congratulations Facebook.  You got the entire world to help build a database over a billion strong…For free.  So maybe there really is a free lunch?

 

 

 

 

 

(For my Sales Friends)–Feel the Fear

fear

  1. Pick up the phone to make a new cold call—-Feel the Fear….Do it Anyway.
  2. Making a big presentation to a board of twenty skeptical bankers….Feel the Fear—Do it Anyway.
  3. Pulling over and walking into a brand new prospect…Feel the Fear…Do it Anyway.
  4. Giving yourself a goal to beat your budget by 20%…Feel the Fear….Do it Anyway.
  5. Giving yourself a goal to call on 100 new prospects this Qtr….Feel the Fear….Do it Anyway.
  6. Giving yourself a goal to send out 80 new marketing pieces this month…Feel the Fear—-Do it Anyway.
  7. Hitting $200,000 in earnings in 2016….Feel the Fear…Do it Anyway.
  8. Asking for a million dollars of business this Qtr….Feel the Fear—Do it Anyway.
  9. Making one more call EVERYDAY before you go home…Feel the Fear….Do it Anyway.
  10. Doing something outside your comfort zone…. Feel the Fear ….Do it Anyway.

The Art of Competiton

everybattlebefore Nothing in this world fails quite as well as success. You see it all the time.  A company starts to feel, for lack of a better word, entitled, thinking that they actually earned the success. When that mindset creeps into the organization the battle is lost. There is always someone who is hungrier, faster, and smarter. A competitor who is just waiting for you to put your sword down, so they can make their move and take the top spot.

Think about it for a second.  When you are hungry, being in second place is a pretty good area to be.  Every victory rallies the troops and puts you closer to that number one slot. The top company is SUPPOSED to win.  It is expected of the best, so every loss demoralizes the team more and more. As the hungry organization tally’s up wins and increases morale, the entitled one loses a little more control until they are looking though the windshield instead of the rear view mirror.

It’s a double edge sword. A team works their tails off and expects a little R & R, which is fine.  The problem is a reward and a break are two different animals.  I believe in celebrating all victories, no matter how small. However, as soon as the champagne glasses stop clinking, its back to work with the mindset that even one down day could be the difference between winning and losing.

Pie Are Round!

From the moment I heard my 6th grade teacher say “Pie r Squared” I knew numbers could lie because everyone knows “Pie r Round”.   Flash forward a few years and I’m in first place for a major sales contest.  The top prize will go to the biggest percentage gain.  I was at $50,000 up 10%.  The person who beat me was at $10,000–up 50%.  Drats!  Numbers lied once again, (and now it’s costing me money!)  It didn’t matter that I brought in 5 times more money, what mattered to management  was the percentage increase. 

My latest round of being bullied by the figures?  In the past week I went to a local sporting event.  A three year old on a Casio could have counted up  1,500 people in attendance  in about 30 seconds.  The official number that was released by the team?  3,600…Absolutely crazy…  Numbers can be made to say anything.  I now question everything.  Do four out of five dentists really recommend Colgate?

I know many accountant types will read this and argue that numbers are pure and there is always a right and a wrong.  No arbitrary teacher to give you a C minus on your explanation of WWII.  No sir, right or wrong..No gray area.  The beauty of life by the numbers.   I get all that, and some things in life do come down to right or wrong.  However, when you can make statistics basically say anything,  you come to realize the world has many shades of gray.  The person who knows the facts the best, and can clearly articulate  them, usually gets their way on which shade.

Don’t just take every stat you hear as fact.  Do your own research. Ask your own questions.  The history books are usually written by the victors, and sometimes you need to dig a little deeper.

 

 

 

You Can’t Cut Your Way to Growth

When will people learn that in business revenue drives everything—Everything—If you put every worker in America on some type of commission plan, we would never have another recession. If you fix the top line, the bottom line takes care of itself–eventually

The problem is revenue requires training a sales force..investing money…waiting for the crop to grow. That takes a lot of patience, time and money. In with our “next qtr” mentality, that does not help the bottom line now. The best way to affect the bottom line today? Cut expenses. Makes sense right?—Sure it does if you only get rid of the bloated fat, but we are way beyond that in this economy.
I think a few examples and analogies are needed:
Company A $100,000: revenue
$50,000: expenses
$50,000: profit How to get to $75,000 in profit quick? Cut expenses by another $25,000……Done—magic pill—Everyone is happy– (except those laid off, and the people who have to do twice the work) But here is the real problem—You can’t cut your way to growth. What will now happen is the sales reps will discount and a new norm will be set—A dropping tide lowers all ships. It is like when you feel your pants getting a bit tight because you put on a few pounds…You know that feeling..Bloated, binding—generally uncomfortable. Then you go out and buy a new pair of pants a bit larger in the waistline—A new norm has been set—You no longer feel fat, so now a 40 inch waist is the benchmark—This happens every few years until you wonder why you are so fat.

Same with cutting expenses and the discounts that usually happen at the same time as a company panics and tries to hold onto market share..After a while they look around and there is no staff, and pricing is half of it once was…”Didn’t we used to charge twice as much”?—yea….back in the “good old days” –Once a new norm has been set—It’s a slippery slope…

…Now how do we find a long term solution and end up in a much better place with a little patience?….Increase expenses by $25,000 with sales training and marketing….What? Increase expenses? That’s blasphemy! Stay with me. With the right program, $25,000 in marketing and sales done right should produce at least $50,000 in additional revenue. …So now we have this scenario
Company B $150,000: revenue
$75,000: expenses
$75,000: profit …Same outcome. One takes a year to get to, one happens instantly.. But look what you are left with for Company B….You didn’t discount..You still have a full staff….And you made the same profit as the expense cutter. As an added bonus when the economy turns around Company B is going to leap light years ahead…And wait to Company A tries to get prices up again—Good luck!..

I understand that some times, hard decisions have to be made immediately..But face it….Most companies have already made the rounds on laying off the non-essential workers and expenses. The saddest thing in business is when a company cuts, cuts, and then cuts some more—And then—they go bankrupt anyway

Blackberry–Apple? Or Wang?

So–I love my Blackberry–I mean really love it–I stream Pandora, I take snapshots of QR codes—Post videos right to YouTube–It does everything I want it to do–Yes the blackouts really sucked last month, but I don’t get rid of my car because I need an oil change–Blackberry has done  so much good, and it is disheartening when the world turns its back so quickly.  I also have a Playbook which I love–Imagine, the ability to log online tethered to my Bold with no extra monthly sees–And in Flash!  Ok, so flash is going away–but still…

Yes the Apps are awful–Blackberry is not known  for their apps, but even that is getting  better–So my question…Will Blackberry make it?  Be bought up by a company like Vodaphone?  Can it re-invent itself?   Or will Blackberry be thrown on the  Wang garbage heap. 

Is the new Bold or Touch the savior of Blackberry? Or  is to little to late?—Take a  peek at the new specs and let me know what you think

http://us.blackberry.com/smartphones/blackberry-bold-9900-9930/?CPID=KNC-kw405007_p6&HBX_PK=rim|0872d6b8-f1f4-d7a9-2348-00004f645017

Post Navigation