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Archive for February, 2011

The Dark Side of Change

Monday, February 28th, 2011

As businesses start growing again, there will be a tendency by some Boards of Directors and some business owners to bring in “The Change Agent”. Unless the business is in dire straights, on the verge of bankruptcy or has major image problems with it’s customers and the public, The Change Agent is not at all whom you need.

 

The phrase itself, change agent, has become a pejorative in the minds of many. And this has been reinforced by the likes of Chainsaw Al Dunlap and his escapades at Scott Paper (Al Dunlap was a turnaround specialist who used ruthless methods to turnaround companies like Scott Paper). And unless we think that change agents such as this are a thing of the past, look at Jack Griffin, who held the CEO position at Time Inc. for less than six months.

(http://blogs.hbr.org/hbr/hbreditors/2011/02/jack_griffins_ouster_lessons_f.html)

 

Organizations do not have to be eviscerated to catalyze change. Employees do not have to be humiliated and terrorized to motivate them to action. This is naïve and ineffective behavior, let alone cruel and unprofessional. Yet, that is in effect what some change agents attempt to do.

 

While the idea of dramatic change may seem appealing, it is often extremely harmful to the organization to the point where it will actually deteriorate performance. Change is needed in all organizations. Organizations that do not change (and growth and adapting to growth is a form of change) will cease to perform effectively.

 

In any change process, however, it is important to understand what is going well, what serves as the base to build a stronger company, and who is helping and contributing to the organization (in addition to what and perhaps even who is not). Until this is done, the change agent will lack credibility, will be seen as neither respecting the culture nor understanding organizational strengths. This type of change agent will be treated like an antigen invading an organism. The antibodies will mobilize to devour it. Unfortunately, it may kill the organism in the process

 

It’s important to approach change rationally and in many cases this entails progressively, in the very least of approaches, to thoroughly assess what’s needed and communicate to employees and stakeholders about the change.

In this week’s Quick Tips we will look further at positive ways to affect change.

 

Copyright 2011 Kubica and LaForest

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Posted in Business Growth & Entrepreneurial Strategy, Leadership, Management & Management Transitions | No Comments »

The Networking Continuum: Balancing Online and Offline Approaches

Thursday, February 17th, 2011

On Monday we indicated the importance of balancing your approach to and strategies in networking: combining the benefits of social media networking and in-person networking activities.

There is tremendous power in a balanced approach, although the feedback we often get when talking to people about this balanced approached is along the following lines: “I really don’t have time to do both, which one should I focus on?”; “I hate having to be put on the spot in meeting other people”; and, “in-person networking takes time and money – both of which I’m short on….”

Before addressing these issues, first answer 3 questions:
1. Are you a product company or a service company?
2. Do you sell your products or services exclusively (or almost exclusively) online, or in person?
3. What is your customer demographic profile?

How you answer these questions doesn’t negate the importance of a combined approach, what it does do, however, is guide you on how you should allocate your online and offline time investment.

Keystones for your Networking Approaches:
1.Online Sales Focus – If you exclusively sell your products or services online, than you should invest a large portion of your time in online networking. (You should, however, supplement this by attending at least one conference or professional event per year, where you are likely to find your buyers or the type of people who are likely to buy from you.)

2.In-Person Sales Focus
If you do not sell your products or services exclusively (or perhaps not at all) online, then meeting people in person is the most powerful business development strategy. It better enables authentic relationship building, and people buy from (and will sell to others) people they like and trust.

3. Demographics
Demographics help further focus and refine your approach. For example, if your primary customer base is the Gen X and Gen Y generations, then more emphasis in online networking makes sense, as these generations are prone to (have been raised with) using social media.

4. On Time and Cost: Return on value trumps either.
Both online and offline networking take time, and ultimately how you spend your time equals money (or lack thereof). Whether offline networking costs significantly more than online marketing depends, as consider this: How much time you spend on LinkedIn, Facebook, Twitter and other social media sites, and what is your return in business? And, the opportunity to build a network of colleagues who will support you and refer you, in addition to meeting prospects, is worth the investment to attend.

Social networking has “leveled the playing field” for small businesses, though it’s misguided to focus solely on an online approach (unless you are a solely a online service.) A balanced approach (in relation to the type of business you have and the demographic you serve) shows the highest return for most small businesses today.

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The Blindside of Social Media Networking

Monday, February 14th, 2011

Using social media as a business growth strategy is a sound idea. In fact, if you are not, you are rapidly falling behind the competitive curve. Even healthcare organizations, widely recognized as late adopters for many non-medical technology initiatives, are getting into the game (i.e. Mayo Clinic). LinkedIn, Facebook and Twitter, to name the “big three” are changing the way we do business. Ignore them at your peril.

But there is a caveat: too much of a good thing can be dangerous to your business health. Just look at the evolution from talking to someone on the telephone when contacting a company to being caught up in the telephone electronic triage systems. We have yet to find many customers satisfied with this change.

In putting together your business growth, marketing, customer/client/prospect awareness strategy, it is important to understand that using social media exclusively can in fact hamper your efforts to grow. While social media is pervasive and expansive in its ability to reach large groups of people – literally- throughout the world, it is also devoid of the personal touch. Unless you are a very skilled writer with the ability to communicate clearly with your words or you are a prodigious user of emoticons (which is controversial for many), communication is risky and open to misinterpretation when done electronically.

There is one inescapable fact; businesses grow based on relationships, especially small businesses. Relationships build trust and trust catalyzes positive action. People like to deal with people they know and trust. And meaningful relationships are built using face-to-face contact: Meeting the person, discussing likes, shared interests, and finding common ground.

We encourage a balance between the online world and the offline world of networking.

Social media can be used to provide an introduction. It can also be used as a stay in touch mechanism. It can be used for announcements about the new products and services you are offering. But it should not be used as the sole strategy for growing your business. Does this mean you may have to travel to meet a prospect? Yes, we believe that it does. Does this mean you should personally visit your clients? Yes. Does it mean that you can benefit from professional associations meetings and networking events? Yes, absolutely.

We believe the real advantage lies in combining the reach of social media and the power of in-person meetings. Using both appropriately will differentiate you and provide you with the best of both worlds. Think of a scale with social media on one side and in-person networking on the other: the scale is balanced.

Social media has many advantages and is certainly changing the way business is done. But it is not, and shouldn’t, a substitute for building and maintaining the solid relationships required to truly grow your business.

Copyright 2011 Kubica and LaForest

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A Current Fact About Entrepreneurial Activity You May Not Have Known

Thursday, February 10th, 2011

If you are like most people we talk to, you are likely to think that entrepreneurial activity is highest among the Gen-Y group (aged 20 – 34). And this would be understandable (Facebook, Groupon, Google), and it would be incorrect.

According to the Kaufman Index of Entrepreneurial Activity (http://www.kauffman.org/research-and-policy/kiea-interactive.aspx), the two age groups tied for the highest entrepreneurial activity were the 35-44 and 55-64. And the age group we often think about as being the most entrepreneurial (age 20 – 34) actually had the lowest activity.

Martin Zwilling, writing in the Business Insider, titled his article on this topic: People Having Mid-Life Crises Are Starting Companies (http://www.businessinsider.com/boomers-are-driving-a-new-entrepreneurship-boom-2011-2). Certainly an interesting perspective.

So what is this likely to mean to the business market and you? Considering that the Baby Boomer generation is reportedly 76 million strong and has been influential and disruptive at the same time, it will mean a lot!

Clearly, three reasons for new business formation in this age group are due to: 1) the economy, 2) pensions, and 3) lack of savings to prepare them for retirement. And there are other explanations also. Meaning, many simply are not ready to retire – even if they could. Their health is better, and the idea of protirement (more interesting and meaningful work post a long career) is gaining momentum.

Can this result in a positive disruptive event – that is an increase in the impact small businesses will have on the economy. We believe it can. The impact of the baby boomer generation was first seen in the 1960s. The generation took on the Vietnam War and the results are now history. It is now taking on health care and redefining retirement. And one part of that redefinition is the increase in small business formation and the lobbying and influence this generation will have on the political support for small business interests. Simply stated, federal and state governments and politicians cannot ignore this group.

And along with their interest in starting a new business, a multiplier effect will be created. That is, these new small businesses will generate employment, will need goods and services to start and grow their business. Many, although having years of corporate experience, will not fully understand how to grow a business (we referred to these as the corporate refugee http://www.foxbusiness.com/personal-finance/2010/08/22/corporate-refugee-entrepreneur/) and will need help to succeed. All of which creates new opportunities and generates economic growth. Here’s to the boomers!

Copyright 2011 Kubica and LaForest

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Posted in Business Growth & Entrepreneurial Strategy, Professional Growth & Development | No Comments »

Branding and Culture Drive Market Results

Monday, February 7th, 2011

As a business owner or organizational leader, understanding your target market, market niche and position within that market is essential to growth. Developing a brand and branding message drives the consistency you need for the market to recognize you and then work with you. It creates the promise. So then you are done – right? No! In fact, if you stop there, we can say with certainty that your chance for long-term success and competitive dominance is dim. Why? Because unless you consistently and exceptionally deliver on that promise, you have set your business up for a fall.

Once you identify your market (customer and audience) and the message (brand expression) you want to send into the market, it’s time to deliver. And it is your company or organizational culture that creates and ensures the delivery. Culture is “how work is done around here”. And it enables delivery on your promise.

Think of it like a triangle. On top you have the market, where you are “pointing” your efforts. The other two bottom corners that establish your base are culture and branding. Without a strong base it is impossible to deliver consistent and high quality products and services to your market.

Culture is not the soft stuff that many believe it is. It drives how decisions are made, how responsibility is assumed, your behavior in front of customers and within your group, the standards and consistency with which you deliver your product or service

While brand sets the promise, culture drives your ability to deliver on that promise. One of the worst things you can do as a business is to set a promise and not deliver on it. It’s the empty words we are all too familiar with. Such as “your call is very important to us – please stay on the line and your call will be answered by our next available agent”. Ten minutes later the call that was so important to them may or may not yet be answered. We are certain, that you can generously add to this example.

Identifying your market and building a strong base (culture and brand) to deliver to that market is a competitive differentiator. Why, because many of your competitors (and would be competitors) will not take the time to do this. Believe us when we say your clients and customers will notice and will reward your efforts.

Copyright 2011 Kubica and LaForest

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Posted in Brand Building, Business Growth & Entrepreneurial Strategy, Culture Building: Creating a Talent Gravity Organization | No Comments »

Startup America and Small Business Funding Information

Friday, February 4th, 2011

Is this the year of the small business? Possibly. And one thing we believe is very important to you as a small business owner, entrepreneur or someone who is seriously thinking about starting a business is understanding the business funding landscape. It’s no secret that funds were scare over the last few years, which inhibited growth or worse, resulted in business closures. Will 2011 be better? Perhaps.

In President Obama’s State of the Union Address, he presented a Strategy for American Innovation as a path to economic growth and job creation. Out of that came Startup America. The White House described this as an “initiative to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation”.

Small Business Trends published a piece called Small Business News: Small Business Funding Facts. It presents 10 links to articles addressing various small business-funding issues.

Check it out – it’s quit informative.

Link: http://smallbiztrends.com/2011/02/small-business-news-small-business-funding-facts.html

We’ve also address small business growth issues in our February Newsletter.

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Your Branding Must Be Consistent with Your Target Market

Thursday, February 3rd, 2011

In Monday’s Blog, we wrote about identifying your target market and your market niche. This is important because your branding message must be consistent with your market.

Message consistency is important. Think about the message you send when you do not have an email signature that shows the reader how to reach you. Or if your email address ends in @aol.com, @gmail.com, @yahoo.com or some other generic email service. With regard to this small detail, we have had people tell us that it doesn’t matter. They say what matters is their skills and their ability to do outstanding work. OK, let’s say that’s true. Let’s say they really do outstanding work. If that’s the case, why risk setting up an artificial barrier that may create doubt (AKA: low credibility and professionalism) in the buyer’s mind? Remember, the buyer does not know you or does not know you well. Why would you want to raise an inconsistency in the buyers mind?

If you are targeting CEO’s as buyers for your services, it is not likely that an aggressive Facebook strategy would be the best approach. LinkedIn, however, would be a much better approach. It started as a businessperson’s social media tool, while Facebook has been used for more personal connectivity. And, LinkedIn gives you the opportunity to participate in the same Groups where your target client participates. Through thoughtful answers to the questions and statements posed, you have an opportunity to network and add value – this should peak some interest if indeed you can rise above the noise.

Once networking was done exclusively face-to-face. And while this is still the preferred method (one reason is that it helps build business relationships), social media like LinkedIn provides an introduction that can serve as an ice-breaker, often because you can connect through a mutual connection or professional interest or commonality. When you do finally meet, you already have had an opportunity to share business ideas. But in your responses, you have to position yourself as an intellectual equal and ideally add value – that is, be of assistance to them in some way.

Your target market also drives what you want your communication tools to look like. Theses include: letterhead, logo, voice mail identification, fax sheets, marketing pieces, invoices. You in effect create an image; an image that supports how you want to be seen and perceived.

In the mind of the buyer perception is reality and branding helps to establish and reinforce that perception. Since you have a choice, make a strong, positive impression.

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