Grow Your Business

Have you ever watched a movie or listened to a speaker at a conference that put you to sleep? You just get numb from the uninspiring information and delivery. A bad economy will do the same thing to your business. After 18 months of recession slow down and back-stepping, business leaders can get into a malaise that feels like the numbness experienced listening to that boring speaker.

Once this habitual plodding happens, business leaders miss good opportunities because their minds are more focused on just getting through one more month instead of looking for big jump opportunities.

Ask yourself these questions:

• Is your budget for this year set with expectation of improvement or with the fear of repeating 2009?
• Do you have wiggle room to capitalize on a fresh opportunity or do you feel overwhelmed in time and financial resources; therefore, you only hope to make it through the year?
• Are you on high energy rush and expecting to have a record performance year, or are you using the same mindset you used to survive 2008 and 2009?

Opportunities for every business will be available this year. Those leaders who are looking for them will find a way to take those opportunities and turn them into long-term success. Others will be waiting on the right time to take on such new ideas, which means those business executives will go lacking while the aggressors take more market share.

Use this month to awaken your senses, get your people vibrant in their attitudes once again and grab your share of opportunities that are ripe with potential. In talking with a gentleman who owns 600 rental properties, someone asked him if he was feeling the pinch of the economy where people were not paying or he was left with open properties. He didn’t even respond to the question, he just offered a different perspective.

He said, “I’m not worried about how many open properties I have because now is the time to focus on the great opportunity to buy more properties, so I’ve been on a buying spree getting some great deals.”

Think of your perspective. Are you more focused on the negative impact the economy has had on your business, or are you focusing on the opportunities that can be grabbed while everyone is looking the other way? This is your wake up call.

I had a message on my desk the plant manager wanted to see me. As a newly promoted fresh-faced department head I hadn’t been jaded to the fact I was wanted in the plant manager’s office. To my eagerness this was an opportunity for face time. To shine. To please my boss.

He asks me to close the door and have a seat. The tone was stern and unemotional. His first question to me was, “Russell do you want to be a success in this business?” Of course! There was never a doubt. How could he question this? I answered immediately, “I’ll do what ever it takes to be the best manager I can be.” He smiled, sat forward in his seat and said, “I knew you’d see it my way.”

He continued, “The first thing you need to do is get rid of the boots.  (There were plain black not the red ones) I don’t care how polished you keep them and how nice they are, they’ll always be sh*tkickers in my book and no one in management in this company wears those things to work. Second, you have a personalized license tag on your car and Read more »

Back in the dark ages I owned record albums with “hidden” soundtracks and “backmasking.” Monty Python’s Matching Tie and Handkerchief album had a second, or “hidden,” groove on one side of the album that only played if the stylus hit it accidentally. We called this the “third side” of the album.

The Beatles White album has a message recorded backwards under the song Revolution Number 9. I had access to a radio studio turntable, so I could play the album backwards and hear what the words really said. These were the surprise prizes that were shared from person to person; the “inside” information made us feel in the know, clever for having figured it out, and part of a special crowd.

DVDs now do the same thing with Easter Eggs. They are exciting to discover, and the customer feels special and rewarded. And the best part for the customer — sharing the “secret” with someone else! For example, the Cars DVD has hidden treasures aficionados enjoy. If you’ve seen “Boundin’ with Mater,” you are an Insider!

Even TV shows. The little icons prior to commercials on Fringe spell words in code.

What are you doing to create the buzz of word of mouth marketing for your surprise prizes?

Do you know about the “secret menu” at In and Out Burger? Have it “Animal Style!” Are you a Maker’s Mark Ambassador with your own barrel of private stock bourbon? Now you want to be an Insider don’t you?

Define the “Insider” Read more »

Lately I’ve been listening to people who are always upbeat and excited about life and their optimism is great but it’s missing something. “Sure the economy will turn around.” “I have my health.” “There are a lot of people a lot worse off than me, so I have nothing to complain about.” Some of the optimism seems Pollyanna to me and wishing and hoping optimistically isn’t enough! You need to be opportunistic!

When I bought this house I live in on the lake I was looking for not just a nice house but a good deal and great investment opportunity. That fact that we found a house underpriced because of an acrimonious divorce just wanting to get rid of the last connection they had was my good fortune! Had we not signed the papers the day we did the opportunity would’ve been lost because literally there was a couple flying across the country from Seattle to come put a contract on it. They were in the air when we inked the deal! Oh yea! That’s opportunistic!

Those reading this can scoff but winners take control and grab opportunity when it presents itself. I got to watch the Panthers beat the Packers at Lambeau Field because I grabbed opportunity. I got to see a Styx concert in Vegas for free because I grabbed opportunity. I met my breakeven figure for the year before the year started because I grabbed opportunity.

Opportunistic seems to have a negative connotation to it, I figure that’s because there are more people who miss out on opportunities than those who grab it. Be the one to grab opportunity and elevate your optimism to opportunism.

Do you know where to focus your growth efforts?  Do you know what your break-even point is?  Do you know how your numbers compare to your peers – and not just your revenue numbers?

These are questions that I work on daily with small business owners.  Most business owner’s think in terms of one line item when they try to grow their business – revenue.  This is logical choice.  After all, if revenue is higher, you must be making more money, right?  Wrong.  While this may be the case in a perfect world, it often leads to business owners struggling for years to make ends meet when the mathematics of the business just do not work.  What can be done to fix the problem?  It’s simple.  We just have to change the number so that the math works.

We recently helped a client who had been consistently loosing money for seven years – at a rate over of about $175,000 per year.   When talking with the client, his solution was that he needed more sales.  If he could just get more sales, he would be profitable.    We sat down with him and did a thorough break-even analysis.  Using his current cost structures, it was going to take nearly $3 million in sales for him to breakeven.  He was currently sitting at $700,000.   The answer to his problem was not sales, it was his cost structure. Read more »

I remember growing up playing with a Super Ball. I could bounce this ball from shoulder height on the driveway and have it bounce higher than the rooftop on my two-story house! People and companies need to have that type of bounce ability when facing tough times.

We are well versed in people and companies who struggle in bad times. It’s almost become sport in this county to see who falls on their face next. The falls make the headlines but what about the rest of the story after the fall? Those stories rarely make the headlines and that is actually where the greatest lessons exist in how well people and companies recover from their falls. Whether it’s personal or corporate there is going to be adversity in our journeys and how we respond and how quickly we respond demonstrated out bounce. You have options in your bounce ability.

What about the people who fall, fail or flounder only to bounce back stronger than ever? Robert Downey Jr. has good bounce. Vanessa Williams has good bounce. Starbucks has good bounce. How about you?
Read more »

In talking with a group of managers about the Next Generation I was trying to explain the differences between the generations and this guy from my audience says, “I don’t know what’s up with my younger employees but someone was handing out stupid and they were grabbing all they could get!.” Sure everyone laughed, but he failed to see the joke – because he didn’t have a mirror in front of him.

This new generation of workers is more intelligent, more technologically savvy, and better able to accomplish a multitude of tasks than generations prior. They are not stupid.

They also will not tolerate boorish managers, incomplete information and lack of proper training. There is where the stupid lies – in how managers are treating this generation that have the potential to make your organization soar! Read more »