From the category archives:

Business

Your Customers Are Not Morons

by Daria Steigman on January 31, 2012

Customer Service, Empowered Customers are not ClownsThis should be obvious, right?

[Insert BIG SIGH here.]

There’s a lot of talk these days about “empowered consumers” and what this means for companies. It’s an issue for  pricing and sales, and for what consumers want and expect from the brands we interact with.

We have more information than ever a mouse click, search term, or social scroll away.

There’s a big gap between the empowered consumer and many sales and customer service teams.

Case in point. I was shopping around the other day for information on Internet service providers. Mine has been very reliable–but the price has gone up astronomically. So here’s how the conversations went.

1. Existing provider said they felt my pain. Customer service agent put me on hold for a couple of minutes while he (maybe) went off to see if he could give me a different service or a better price point on this one. Came back and spouted a company line about having only one speed of service and that I was paying the standard rate for that. I told him I was going to cancel. Said he would be sorry to see me go.

The rate I was paying was $7 over the highest rate listed on the company’s Web site. The base rate was 40% lower than what I was paying.

2. Prospective company’s sales guy wants to know what I’m paying now. Not relevant, I reply, I want to know what options you offer. Sales guy asked what provider I have now. (Nice try, same answer.) Then he starts talking about bundled new services–which I say is not what I’m asking about either. Finally, he quotes me a price.

The price he quotes me is 25% higher than the rate listed on the company’s Web site. And it’s for completely unbundled service–and I already have one service through this company.

They must think we’re morons.

Clearly, companies have a long way to go in understanding how the Internet–let alone social platforms–impacts the business/customer relationship.

Photo by macinate (Flickr).

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What Andy Warhol and Joe Paterno Have in Common

by Daria Steigman on January 26, 2012

Warhol was right: At the end of the day, others will define your brand for you.Have you ever listened to Songs from Drella?

The album is Lou Reed and John Cale‘s brilliant tribute to Andy Warhol‘s life and art. It’s fascinating, personal, and emotionally raw.

The penultimate verse:

They really hated you, now all that’s changed
But I have some resentments that can never be unmade
You hit me where it hurts I didn’t laugh
Your Diaries are not a worthy epitaph

Your legacy is all your atoms and bytes.

When Joe Paterno died on Sunday, I wasn’t so much surprised as saddened by all the glowing words being said about him. Calling him a “flawed hero,” or talking about how he handled the Penn State scandal “with grace” (seriously?). Somehow I don’t think this is what my high school English teacher had in mind when she was teaching us about Shakespeare and Aristotelian tragedy.

You can be really great at something (for Warhol, art; for Paterno, winning football games), but you don’t get to write your epitaph. And the consequences of your words and your actions all become a part of your legacy.

Your brand, at the end of the day, is what other people decide it is.

Here’s the question: What would you like your epitaph to be? Will it?

Photo by Podknox (Flickr).

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Are You Embracing Risk?

by Daria Steigman on January 23, 2012

Why Mistakes Are Good, Business, Entrepreneurship, Independent ThinkingI had a conversation with my mom recently about an apparel retailer that is going out of business. She had attributed their fate to a declining economy. My own take: the clothing was staid–and there’s a limited market for boring. The company never took a risk. It didn’t try to refresh, modernize, reinvent for changing styles.

Successful businesses don’t sit still.

There’s a reason abandon is one of my 3 words for 2012.

There’s a terrific piece on Inc.com about taking risks and making mistakes. Author Paul Schoemaker points out:

If you have ever flown in an airplane, used electricity from a nuclear power plant, or taken an antibiotic, you have benefited from someone’s brilliant mistake. Each of these life-changing innovations was the result of many missteps and an occasional insight that turned a mistake into a surprising portal of discovery.

His point: you have to take risks, and test things, and be willing to fail (i.e., make a mistake). It’s a short article and well worth the read.

Photo by Brett Jordan (Flickr).

 

 

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Why the Small Business Haters Have It All Wrong

by Daria Steigman on January 19, 2012

Small Business Hidden Treasures, Independent ThinkingHave you noticed a trend lately disparaging small businesses (especially solo-owned ones)?

It’s a bit ironic that the people who are taking chances, thinking creatively, and testing out new products and services are getting slammed for not creating  jobs at a time when the economy is mired in inactivity.

The haters have it all wrong.

We’re not too big to fail. But we’re small enough to succeed.

One big thread in this conversation seems to revolve around employment. At one level, the naysayers have it absolutely right: I’m not hiring.

But that’s not my business model. My model is to partner. Which, last time I checked, generates income for other people so that they can pay bills, buy groceries, and shop at the mall–all the same stuff that salaried jobs enable, albeit at a much smaller scale. But I’m just one small business among many.

It’s not just about jobs.

There is a jobs crisis. But don’t blame small businesses for it.

I’m not an economist, but jobs don’t spring from nowhere. We need a reboot, and that’s going to require innovation, creativity, research and development, and risk-taking. (These and a bunch of other things too.)

Ashvini Saxena had a terrific post recently on how Entrepreneurship Benefits the Economy More Than Just Generating Jobs. In it, he talks about four other factors:

  • Entrepreneurs invent.
  • Entrepreneurs optimize.
  • Entrepreneurs find hidden demand (and create plans to exploit it).
  • Entrepreneurs hire people with skills.

Read Saxena’s post as well as the smart conversation in the comments.

Have you noticed an attack on small business? What’s your take?

Photo by Jan Tik (Flickr).

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3 Strategies to Excel in a Tough Market

by Daria Steigman on January 12, 2012

Business strategy is a balancing act. Are you a pioneer, a pouncer, or a hedger?How do you manage uncertainty when, by definition, it involves wrestling with stuff that’s difficult–and sometimes impossible–to predict?

It all starts with understanding (and then leveraging) your competitive advantages, says Keith Bickel, author of Mastering Uncertainty. The book posits three different business models to optimize your competitive edge.

Are you a pioneer, a pouncer, or a hedger?

Read about the three strategies in my book review.

Photo by Steve Snodgrass (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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