Independent Thinking » Value

Why Every Deal Is Not a Bargain

Daria Steigman — Mon, 12 Dec 2011 16:45:26 +0000

What’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).

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Does “Shuttle Driver” Work for You?

Daria Steigman — Thu, 01 Dec 2011 08:03:40 +0000

I met “Shuttle Driver” the last time I stayed at this hotel in Atlanta.

His actual name is Ghassan, but you wouldn’t know that from the generic business card his employer provided him. Same for the reception desk staff. And Michael, the awesome dude who cajoled me to eat some breakfast before I left, apparently didn’t merit a business card at all.

It’s Not About Printing Costs.

Once upon a time I was given business cards with the wrong phone number. When I pointed it out, my boss told me to cross out the number and write in the correct one because it was too expensive to reprint the cards. Not surprisingly, the job wasn’t a good fit.

It wasn’t about printing costs then, and it’s not now.

What message are you sending to your staff?

Photo by Sgt. Pablo Piedra (Flickr).

Blogging for Business Value

Daria Steigman — Thu, 04 Jun 2009 14:55:03 +0000

Have you ever wondered why a growing number of small businesses are investing time and resources into starting and maintaining a blog?

My latest column for CW Bulletin is out, and the topic is blogging for business value. While there is no magic formula for business success, a well-written, well-focused blog can be an effective way of promoting yourself by adding value for your multiple stakeholders.

The column looks at three key reasons why, if you don’t have one, you might want to consider starting a business blog:

content
thought leadership
street cred

Plus it features insights from Marc Meyer and A.J. Leon, both of whom know a little something about successful business blogging.

Read the column here, then come back and let’s talk about why you are (or aren’t) blogging for your business.

On Twitter: Can You Have Too Many Followers?

Daria Steigman — Tue, 18 Nov 2008 22:23:56 +0000

First there was a debate about LIONS (LinkedIn Open Networkers) on LinkedIn, and now there’s dialogue about collecting followers on Twitter.

Guy Kawasaki generated a huge conversation with his post last week onÂ theÂ topic. His advice ranged from tweeting top social media folks (“all you want to do is appear like you have a relationship with them to enhance your credibility”) to repeating your tweets throughout the course of the day. Less controversial were Kawasaki’s tips on establishing yourself as a subject matter expert and using the right Twitter tools.

My issue with Kawasaki’s post is that its focus is largely on the vanity of collecting followers and not the quality of the conversation. And he’s by no means alone in voicing this perspective. I’ve seen a number of people tweet or retweet that they’re close to a milestone number, and will you please follow them too?

Why should I? Are you interesting?

If you have 5,000 or 25,000 followers, how many are you listening to — let alone engaging with?

I know some people with multiple followers who are superheros in their ability to engage their online communities. Or they’re providing so much useful information to their followers that it makes sense to follow their tweets even if it’s primarily a one-way communications channel. But they’re the exceptions.

I don’t know at what number you max out and start filtering tweets so you’re really only engaging those followers in your inner community. And while I can list a number of ways that having lots of followers can be of value, I just think we each need to make sure that value flows both ways.

Trump & McMahon: Business is Personal

Daria Steigman — Mon, 18 Aug 2008 16:55:09 +0000

You may have heard that Ed McMahon’s in mortgage trouble and that Donald Trump has reportedly offered to purchase McMahon’s Beverly Hills home and rent it back to him. While the two men are friends, I’m sure McMahon never thought he’d need a financial boost from The Donald.

The point is this: You don’t know what you’ll need, so why burn bridges? Too many companies adopt a transactional approach to business rather than building relationships. While GE, CVS, and other larger companies may get away with treating people as ATMs and data points, small business owners need to be especially careful to build value with clients, customers, and casual contacts. You never know when the guy sitting next to you at the ballpark might lead you to your next great business opportunity.

Five Rules for Creating Demand

Daria Steigman — Sat, 02 Aug 2008 14:32:21 +0000

Fast Growth Focus columnist Doug Davidoff writes about the five rules for creating demand:

Know your customers.
Identify problems they may not know they have.
Educate clients on their problems by focusing on results and creating value.
Don’t tell clients what you do; instead, “start building the bridge.”
Monetize the value of your solutions.

Read Davidoff’s excellent article here.

Sales v. Consulting

Daria Steigman — Thu, 24 Jul 2008 14:04:59 +0000

Sales people are always trying to sell something. That’s what they do. I know one terrific salesperson who could sell you the Brooklyn Bridge and convince you that you could move it into your back yard. Great, until you find out the promise and the reality don’t mesh.

Too many consultancies operate like sales operations: they close the deal and then try to figure out how to do the job. But consulting isn’t transactional; it’s about adding value.

Are you willing to tell a potential client their premise is flawed or what they want to do won’t work? I’d rather lose a job upfront than set everyone up for problems later.