Being Meaningful
August 17, 2010 by Ed McLaughlin
Shortly after his return to Apple in 1997, Steve Jobs defined the company’s purpose to employees. The brief video below captures the essence of this message.
Belief in the mission matters. Do you believe in yours?
Tagged: apple, belief system, business, employee motivation, entrepreneur, entrepreneurial thinking, leadership, marketing, steve jobs, values, video
It’s All About Price?
August 11, 2010 by Ed McLaughlin
“All that my customers care about is price.”
Be honest – have you ever said those words? If so, I’ve got news:
You’re right.
But do you know why?
It’s because you haven’t really given customers much else to care about in the first place.
Tagged: business development, business growth, customer buying motives, customer loyalty, entrepreneur, marketing, pricing, sales
Loyalty Isn’t a Program
August 9, 2010 by Ed McLaughlin
I went into the bookstore of a major chain the other day. As I was checking out, the clerk asked, “Are you a member of our loyalty rewards program?”
“No…” I smiled, wondering if she would persist.
“Would you like to become one?”
“Not really.” Then, of course, I got curious. “How many people say yes?”
“Almost no one,” she said. “But I’m supposed to ask.”
No surprise there. Loyalty programs, once something of a novelty, don’t actually work. Consumers are smart enough to know that they’ll wind up with too much SPAM and a weekly newsletter they don’t want to read. Yet companies love to push them.
Here’s the tip: real customer loyalty has nothing to do with a program. If the experience or product is great (think The Apple Store), then we’re in. That’s it – no discounts, freebies or plastic cards necessary.
Tagged: business, business development, business growth, customer loyalty, customer satisfaction, customer service, marketing, small company growth
Legacy
July 28, 2010 by Ed McLaughlin
Fingerprints don’t fade.
Especially those placed on the lives you’ve touched.
If you can explain why we do what we do in fewer words, you win.
Tagged: business, character, entrepreneurial thinking, ethics, family, leadership, legacy, purpose, talent management
Three Words
July 21, 2010 by Ed McLaughlin
Character counts. Always.
Yet somewhere along the line, companies started to favor rhetoric and excuses instead of results and accountability.
How do you know when a company lacks character? Simple. When discussing poor results, leadership:
- Makes excuses
- Rationalizes limited progress
- Formulates arguments to minimize accountability
Not so with companies of character. They tell the truth. They take responsibility for shortfalls and failures. And they refuse to play the victim just so they can feel good about themselves.
Character is a choice. And one alternative is more likely to lead to success than the other.
Choose wisely.
Tagged: accountability, business character, character, decision making, entrepreneur, entrepreneurial thinking, ethics, leadership
Going, going…
July 20, 2010 by Ed McLaughlin
Gone! A grand slam!
My son’s first baseball game was more exciting than expected. After spending the first four innings watching a back-and-forth struggle, one of his favorite players hit a grand slam – the giant home run that changes the outcome of a game.
Not surprisingly, the media coverage that evening focused almost exclusively on this particular moment in the game. Apparently, the little things that occurred earlier in the contest weren’t as fun to talk about.
But sports teams that rely on the home run cannot win over the long term. Neither can entrepreneurs and business owners.
That sure hasn’t stopped them from trying. Companies love to develop business plans that are little more than a series of attempted home runs. And while occasionally someone hits one, this approach doesn’t lead to sustainable growth.
A better strategy is to concentrate on hitting singles. It may be less exciting, but think about it this way: if you try for home runs and miss, you’ve accomplished nothing. Modest wins, on the other hand, mean that you’re always growing. And over time, steady growth will transform even the smallest of firms into a powerhouse.
Which is a lot better than the occasional big inning.
Tagged: baseball, business development, business growth, business plans, home run, marketing, small company growth, sports, strategy
Shake It Up
June 8, 2010 by Ed McLaughlin
My friend Shawn Murphy doesn’t follow. He leads.
Shawn (@shawmu on Twitter) just launched the Wake Up and Shake It Up blog series. Need a push to think bigger than you have before? Here it is.
The first post, Big versus Small, went live this morning. I think you know the author – check it out.
Tagged: business, business growth, career, change, corporate culture, entrepreneurial thinking, leadership, marketing, shawn murphy, strategy, wake up & shake it up
Two Questions
June 3, 2010 by Ed McLaughlin
Invest a few minutes and watch the video below. Then answer two questions:
- Do you get it?
- What now?
Tagged: change, innovation, internet, media convergence, media landscape, social media, statistics, technology, video
Yes, But
May 29, 2010 by Ed McLaughlin
How many times have you heard someone say “yes, but”?
“Yes, I’d like to ship that for you, but you can’t use that box.”
“That’s a good idea. I’d like to say yes, but this isn’t the time to try something different.”
Somewhere along the line, people were conditioned to say no. What would happen if everyone in the company had to look for a reason to say yes?
Don’t Change Your Story
May 23, 2010 by Ed McLaughlin
It’s frustrating to listen to people, companies, and politicians say they stand for something while at the same time they try to please everyone. It doesn’t work that way, no matter how hard they try to convince us otherwise.
A company’s story can’t be about convenience, low-cost, premium-value, and great selection.
A politician can’t talk about lowering taxes, increasing services, attacking bureaucracy, and reducing the deficit.
A Little League coach can’t preach health and fitness to his team and then sneak a cigarette while the kids are running laps.
I realize that it’s hard to take a stand, to tell people what they don’t want to hear. But it does no good to change your story to suit your audience. Sooner or later people will figure out that you don’t stand for anything at all, which means you’ll be gone tomorrow.
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