Posts tagged as:

Strategy

Are You Long-Term Greedy?

by Daria Steigman on March 9, 2011

Long-Term Greedy, Business Continuity, Independent Thinking, Steigman CommunicationsMy friend Deborah Brody wrote a terrific post about business planning. It’s not a sexy topic–but can anyone say they don’t need a Plan B for when things go wrong?

Most businesses, if they plan at all, focus on the “how are we going to handle the whole disruption-to-our-business” question. Few take that critical next step and ask: How are we going to help our clients, customers, and/or vendors fill the gaps?

Sure, a problem with my business is about me. But it’s also about the impact on everyone else who depends on me.

So Who Are You Going To Call?

Hopefully, you’ve put in place a Plan B to help your customers solve their problem while you’re busy solving your own. Because there’s nothing sadder to me than a business that is unable or unwilling to make a referral. It suggests that they either:

  • don’t trust their clients not to like the other guy better, or
  • think no one else can measure up.

People lose business every day. If someone likes your competitor better, learn from that and adjust your business (if necessary) accordingly. Chances are, for every one person who finds a new home, nine others will be grateful that you found them temporary shelter during your crisis. If you think no one else measures up–well, get over yourself (and/or warn your customers that this might not be the best solution, but that you wanted them to have a solution until you’re back up and running.)

In The New Small, Phil Simon talks about how smart business owners will turn down (the wrong) work rather than take on a project they know will fail. I do this a lot. You’ve probably done this too. He calls it long-term greedy (a phrase coined by someone at Goldman Sachs to refer to focusing on long-term gains rather than worrying about short-term losses). The alternative, I guess, is short-term stupid. Which is how I’d describe a business so focused on itself that it isn’t helping its clients and customers.

Are you long-term greedy?

Photo by Evelyn Giggles (Flickr).

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Why Marketers Are Getting the Axe

by Daria Steigman on July 22, 2010

This recession has not been kind to marketers and other communications pros. Especially at the senior level.

Frankly, I’m not surprised.

Just look at how we typically refer to ourselves. Marketer. Public Affairs Specialist. Writer. Editor. Media Relations Manager. Videographer. It’s all task-based.

IABC has the word “business” in it, but our titles rarely do. And too often we haven’t made the case that storytelling is key to selling widgets (or sneakers, politicians, goodwill, or support for your cause). That communications is a core business function, as necessary to organizational success as product designers and the sales team.

We talk about transparency and authenticity. Our bosses care about sales, opportunity costs, and ROI.

I’ve heard a lot of hand wringing about how communicators don’t have a seat at the table. Yada, Yada, Yada. Feel better?

Now, what are we going to do about it?

The comments are yours.

Note: This post originally appeared on IABC’s Communication World blog.

Photo by Randy Son of Robert (Flickr).

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The Truth About Planning

by Daria Steigman on May 11, 2010

Business Planning: GPS (and a map & real-time info)For years I thought I was an accidental business owner. I mistakenly believed that I’d fallen into business ownership out of a determination to avoid bosses and office politics, which eventually led to an aha moment when I figured out that—yes!—I like the business of running a business.

What really happened was that I identified a market need and the appropriate universe of prospects, created services and pricing, developed a marketing strategy, and got to work selling. In other words, I had a plan.

And that’s the short secret to business success–and the topic of my latest column for IABC’s CW Bulletin. It features wisdom from Tim Berry, entrepreneur, founder of Palo Alto Software, and author of The Plan-As-You-Go Business Plan, who talks about misconceptions about planning and offers three planning essentials.

Read the complete article here.

Photo by w00kie (Flickr).

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Each week I’m highlighting 3 or 4 posts, surveys, and other news that I have read and/or tweeted about that you may not have seen. As the name implies, I think they deserve a second look.

  • How Ford Got Its Mojo Back: A must-read post about smart business strategy reveals how Ford CEO Alan Mulally valued employees and used a combination of transparency, energy, and long-term thinking to bring the automaker back from the brink.
  • Driving Value in Health Care: “Today’s health delivery system and payment framework does not reward innovation around health management, prevention, and real-time consumer engagement… To truly shift the business of health, we need to drive the right combination of structural change, innovation and use of technology to create a better system–essentially, drive real value for every dollar spent.” Smart thinking around shifting the model.
  • China’s First Entrepreneur: The BBC looks at the courage, smarts, and serendipity it took to become China’s first licensed entrepreneur.

Photo by omniNate (Flickr).

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Chris Brogan, Day Rates, and Value

by Daria Steigman on March 9, 2010

I was a little surprised last week by all the attention surrounding Chris Brogan’s day rate. A little of it reminded me of when I started my business and a few (former) friends decided I was really sitting around eating bonbons and cashing trust fund checks. Mostly it reminded me that too many people don’t know how to value their work.

My day rate may not be $22,000, but I do not allow organizations to pick my brain by the hour. My hourly strategy rate is primarily used to establish a retainer or a project fee–both of which build in start-up, research, concepting, and so forth. Not to mention intelligence, know-how, and expertise.

Why would anyone walk into a room and discount that?

Photo by Esparta (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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