Posts tagged as:

Strategy

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).

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Bigotry is Not a Business Strategy

by Daria Steigman on December 13, 2011

Lowe's Bows to Bigotry, Creates Bad PRYou’ve probably heard that Lowe’s pulled its advertising from reality TV show All-American Muslim. The home improvement company says it made a business decision based on its assertion that the show is a ”lightning rod” for “strong political and societal views.”

The show isn’t the problem.

Lowe’s made a reactive decision based on a fringe Florida group’s disapproval of the company’s initial decision to advertise on the TV show. Now, somehow, Lowe’s is surprised by the backlash.

Like most business owners, I choose to work with people and companies I like. And I’m conscious of my brand. And my reputation. I also “own” my choices and my decisions.

So far, Lowe’s has done neither.

Bigotry is not a business strategy. Unless, that is, your strategy is negative PR, a firestorm of media attention, and a lot of customers who won’t be back anytime soon.

Photo by Niloy (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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Why Every Deal Is Not a Bargain

by Daria Steigman on December 12, 2011

sales, marketing, value, Independent ThinkingWhat’s up with the “2 for 1″ sales trend these days?

My thinking on pricing,  rates, and value is pretty clear. And I don’t understand why some people think every deal is a bargain:

  • “Buy 1, get 1 free” suggests the item is overpriced.
  • “Buy 1, get the second free (just pay separate shipping)” suggests the product is so cheap that all the profit is built into the shipping cost.
  • “Used to be [a lot more], but really great price today” tells me the product is pretty close to worthless. And no one’s buying it and we desperately want to get rid of our inventory.

I’m all fine with sales–everyone knows that’s a temporary drop in your profit margin. (And “2 for 1,” used judiciously, can serve that aim.) But when your business model is all about discounting, then I start to get worried.

What about you? Seen any deals lately that aren’t bargains?

Photo by Anthony Easton (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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Can a Personal Brand Coexist Within a Corporate Ecosystem?

by Daria Steigman on August 9, 2011

personal branding, business, social media, Independent Thinking, Steigman Communications, llcLove it, hate it, or deny it exists, personal branding is a hot topic.  And it’s going to be THE topic today for #sm122, a weekly tweet chat around the business of social media.

Join me at 12 noon EST as I host a conversation around personal branding. We’ll explore:

1. Personal branding — good idea or bad idea?

2. Can a personal brand coexist within a corporate ecosystem? Can your stars be stars and keep your brand intact?

3. Is it okay for companies to ban their employees from blogging?

4. Should companies have a succession plan around star employees?

Before diving in, I recommend reading Jonny Bentwood’s excellent post on Forrester’s decision last year to ban its staff from having personal blogs.

Looking forward to the conversation. And, as always, feel free to leave your two cents in the comments below.

UPDATE: The transcript of the tweet chat is posted here.

Photo by J.D. Hancock (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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Going Fireworks

by Daria Steigman on June 30, 2011

Going Fireworks, Happy Anniversary, Independent Thinking, Steigman CommunicationsSome people go fishing–I’m going fireworks.

I’m off for a few days of much-needed downtime. I’ll be back with new posts right after the Fourth of July holiday weekend.

Meanwhile, in celebration of three years of blogging (The Independent Thinking Blog turned 3 this month), here are three posts from the early archives you might want to check out:

See you back here on Tuesday.

Photo by therealbrute (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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